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Its sceptism, if you make a point you have to say why the figures may not be right. Data collection may be vague, not precise etc.
You make your points then you bring in the professional marks. I’m sure your issue is the professional marks.
Improvements to the business, you need to follow the cycle and say they will in time improve customer satisfaction and revenue, thats business acumen.
It takes practice but once you have it, you learn its not necessarily knowledge its how you make your points in relation to professional marks.
Good Luck
Think about the professional marks, I’d assume it’s your points are not targeting the professional marks
First time pass 58, now affiliate with all first time passes
@KimSmith
I’ve seen a definition of a marginal fail on the acca website as 45-49. Mitigating circumstances would only help if the score is within these parameters – is that correct ?
The building blocks was fine too. Quality measured by revenue and repeat customers. Could bring in awards and undertake customer surveys.
Innovation had the most – but to measure it you’d need to get the amount of customers using the online ticket sustem. Number of online visits.
Resources utilisation mention the fact that the staff costs per phone call is imprecise, revenue per sales call is better, also doesn’t measure all staff on phone the measure given.
Customer measured by repeat customers but other factors could be suggested.
The question on the unified database was straight forward. Better pricing, better marketing saving costs, offer complimentary holiday tours based on information from electronic ordering
The last question was horrible on variances. One was fine two was fine
Sustainable roce needed figures from competitors and I also mentioned that EMA could be useful. Get the expenses out so they could see the environmental costs and seek to reduce them whilst maximise profit
What a hard exam – messed up the variances I think
Q1 had a lot of marks to find – no real non financial indicators sustainability of returns – didn’t give capital employed — balanced scorecard was seemingly following that method., bringing in other parts of scorecard. Narrative commentary gave a risk, Growth figures mentioned percentage points not actual growth
Second part explanation of ir and capitals – maintainence creates value etc.
Last part got 6-7 factors for the benchmarking. Cost per staff member, operating profit per investment in projects, roce, revenue growth, average score for project value assessment thing.
Question two with the holiday company was fine, building blocks likes the warning. I think it wanted other metric suggests if nessary, online booking etc, costs per sales sales was narrow should be revenue per call, so call is more resource utilised
Hated question 3 did three variance but was it wanting that reconciling to the overall figure – other part was easy
62% first time pass
Amir the key is in how you write answers
Do Kaplan questions on repeat
No stamp duty due on the sale of the building as it left the gains group over three years after a no gain no loss transfer
As I say it sounded right – probably wrong lol
With Bpr on the death estate you still need to hold the asset or they need to have been replaced with the qualifying business assets – it sounded right but was probably wrong. Questions 1-3 were fine, the first part of four with the over six year old property so you need to work out the additional benefit. The last part of 4 was a disaster. The PE election was easy irrevocable save corp tax at 6%, can’t gain relief on losses abroad. Ethics was easy too ACCA guidelines, put a little about engagement letters etc. the last of 4 was a disaster. 12 out of 100 isn’t too bad usually have an issue area.
I got the gift holdover relief investment business – it needed to be a trading company
As it was a single asset just put some geibberish about if it had been sold on death it needed to be replaced. Two year holding period. It wasn’t a business it was the individual asset of a business so brought that in too. A lot of it seemed to make sense
I added the gain between the exercise price and the market value at excercise to the cost of the shares and worked out from there. I feel that was very wrong
The first three questions were fine ish. The first question didn’t really require many calculations if any. It had a few elements restricted pre entry, transfer pricing with the no double tax treaty exemption. There was PE stuff in there as well. Inheritance tax was really straight forward, as was the partnership calculation. The housing benefit on four was tricky because it involved a house sale as well and you had to involve that. Hated the csop question – always a question like that that I struggle with I got the time limit and the 30000 option limit, calculation was a pure guess. Business property relief was fine.
Hi M
matthewthomas0123 wrote:Sitting in December, any advice/study platforms or is OT and an exam kit enough to pass?
Hi mate, i have an in date kaplan exam book which you can have for a tenner. The kaplan book as well as open tuition is all i used.
The ethics question is easy marks, and the kaplan book has lots of examples. Do the book questions over and over again.
I think the point I was trying to make was the customer didn’t have to take the licence so the decision is made via the performance of the service contract. The information in the service contract is consumed over time as it is performed over the six months period. If it’s recognised on the granting of the licence how do you recognise revenue for customers who do not take a licence as nothing is performed?
Happy if I’m wrong as if I’ve failed will help me to improve next time
Apologies for my tone graceola, sincerely hope we all pass. I hate the pressure of these.
I’m sure you have 🙂
The customer could make the decision to exit the service contract at any time if the data showed negative results
It’s a service that is simultaneously consumed as it is performed because the customer receives ongoing reports and data. If the customer got nothing it would be a point in time. That point is was v important. As per IFRS15 the single performance obligation for the service and licence is recognised over time not at a pint in time.
Thought it was straight forward lol.
The last part of question one I was sure asked for goodwill to be calculated as at 20×7 unless I’m remembering the wrong question.
Thinking back I don’t think it asked you to calculate goodwill – but the net assets of the joint venture were impaired the question gave you the amount needed for the impairment calulxation
You still carry your share of net assets in the joint venture which can be impaired
The customer received the data over the time of the service contract with presentations and reports at specific times – it was one performance obligation but the control over the data was passed over time with the presentations
You seem to have missed that bit
The investment in joint venture can be impaired can it not – the question asked you to calculate goodwill ?
