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Sir and what about the last point i have made on how to exploit opportunity by using strength?
Thanks Sir, but can it be come to a threat as these profits would link to the dividends and if shareholders are not satisfied then they might eject their money?
@majedjam said:
Q1 was fair
Q2 was terrible especially part c had no idea what was going on lol. although part a and b their were easy points on quality control such as: auditing standards not being properly applied, not reported to cwg internal control deficiencies etc.
Q4: Had run out of time but wrote some points on threats and whether its prohibited or not
Q5: Was similar to December exam. however,was not sure on part a what was exactly required. anyone any ideas?
Last part i also mentioned material uncertainty para to be added as management disclosed in the notes.Q5 in December 16 was on KAM nd in this session there was nothing related to KAM bcz if material uncertainty adequately disclosed then auditor should include a separate para M.U regarding GC.
@qazimarsalan said:
i didnt take into account of listed status but identified the same risksIESBA code states that firm can only provide non audit services when the client is not listed and for listed clients services shouldnt be material…
that’s why in 2nd client we were given figures to calculate materiality.@qazimarsalan said:
i made a massive blunder of not giving conclusion in q1i totally forgot about that and moved on
Hahaha I also forgot but in the last 2 minutes when i was rechecking i found this nd gave conclusion. when i finshed this announcement made to stop writing 😛
@qazimarsalan said:
mine are almost the same as yours, what threats did you identify in q3self review, self interst, intimidation and advocacy..
2 clients were listed, 2nd client was listed but immaterial..@mschembri said:
i identified 12 risks.i found more than this but available marks do not allow me to write more than 10..
There were too many calculations invovled and according to examiner’s comments she give 1 mark per relevant calculation.@qazimarsalan said:
what were the risks identified in question 11- misclassification of subsidiaries
2- capital exp
3- inconsistency in revenue nd operating exp
4- tax exp
5- finance cost
6- goodwill impairment
7- indefinite life of brand names
8- bank loan
9- DTL
10- research exp@xamii said:
Anyone guide me about the risks which i identified in RMM
NEW CLIENT(RAMM PROCEDURES)
IFRS8
LISTING COMPANY ISSUE
30M LOAN UNDRRSTAte LIABILITIES UNDERSTate EXP
BUSINESS RISK:
1 supplier
Change regulations
Difficult to acquire new runway due to space
Theft issue
Are these ok????Or all RMM wrong
New client risk is detection risk nd the ques asked for ROMM, it means only control risk nd inherent risk
@seanog91 said:
Correct me if I am wrong and I do not want to panic you but see below :The functional currency for Minor was Euro as they sold to the competitive market in Euro. this is the main criteria of 21. they only bought goods in dollars from the parent but converted to euro in Portugal.
Also, ther was no Active market in the scenario so we can not use level1. We have to use Level 2 as they were all listed companies. The definition they had for an inactive market was wrong as well.
I agree to you. The functional currency for minor was euro. one of the reason was that too that its local govt determine the price for the products imported from its parent.
@teeya said:
Failed with 49% 🙁Don’t worry dear better luck next time ?
@isaacfieh said:
Yes the break -even revenue was 90, 000. then question was what will be the profit if the company decides to train only 500 athletes. when you traces from the graph, you could see that, at 500 athletes, the total revenue will be $140, 000 and the total cost will be $120,000. profit is JUST, P=TR-TC. 140,000-120,000.
So the profit will $ 20,000.@isaacfieh said:
Yes the break -even revenue was 90, 000. then question was what will be the profit if the company decides to train only 500 athletes. when you traces from the graph, you could see that, at 500 athletes, the total revenue will be $140, 000 and the total cost will be $120,000. profit is JUST, P=TR-TC. 140,000-120,000.
So the profit will $ 20,000.Right?
@hoangduchung1903 said:
No answer yet ?Will be uploaded in a couple of weeks.
@mhtacca said:
God the tansfer pricing question gets me so confused…and I really should review the examiner’s report as the last MCQ is almost identical to the one highlighted on the report!yeah it was too identical nd i chose D in that mcq.
However, transfer price ques was not that much difficult as compare to the last one.@shehzadhussain said:
Ohh what were they to nearly ?And sorry but last question what was your school choice clousier
I did the School 1 to be closed.
And also suggested 24 to 37 transfer pricing in question 4.In variance question part B we had to explain the sales planning nd operational variance and then had to discuss on performance, right?
i supposd explanation of 2 marks and discussion on performance of 3 mrks.@dnobleone said:
need some clarity on question 4 – the profit we had to calculate was at the current transfer price of $40 and not the external supplier price of $37???March June hybrid paper is out – https://www.accaglobal.com/content/dam/ACCA_Global/Students/fun/f5/j16_hybrid_F5_q.pdf
i Calculated profit per unit if we buy component from external at 37 and calculated current profit (contribution less fixed cost) and then their differnce was the incremental profit if we chose to buy from external.
@shehzadhussain said:
Ohh what were they to nearly ?And sorry but last question what was your school choice clousier
I did the School 1 to be closed.
And also suggested 24 to 37 transfer pricing in question 4.li’ll different than u in ABC.
yes transfer price i also suggested the range of 37 ad 42.
school question, i clearly don’t recall but it was i think either 1 or 3.@shehzadhussain said:
Thanks for that I did the sameAny idea about ABC question
I add those 22.20 and 22.40 for boath services and both were under about nearly 70.00 and nearly 60 i Think
Any idea for thatYes i also included the cost without overheads bcoz we were asked to calculate full cost per unit. but the ans u r saying is differnt from mine.?
@burhansalah said:
It was a tough exam as usual. I managed to attempt all questions. I misread question 1. In my opinion question 4 was a bit tricky.what did u think about Q1?
@shehzadhussain said:
Well just hope so
Do u know about mkt share & mkt size question ?@shehzadhussain said:
Can anyone pls tell his / her views on Q1 part B market share and mkt size pls pls plsplanning variance for product 1 one favourable nd product 2 adverse.
operational was the same 1st fav nd 2nd adverse but amounts were decreased.