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I received my results in September and not only passed first time but got an A thanks to Gillian Moorse.
I started the project very late, about two months before submission, and therefore I was under even more pressure than most students. Without Gillian’s help and guidance there is no way I would have had it done on time. I also had some family emergencies while doing the project and Gillian was very understanding of me missing deadlines by a couple of days.
Gillian always gave excellent, detailed feedback. It may feel annoying at the time to make changes that seem like small things but just trust her, she knows what she is doing and putting in the extra work will be worth it in the end.
Just got my email and got an A which means I got an upper second class. I thought I was going to fail so I’m very surprised!
GillianM – OBU Registered Mentor wrote:Most of my students are still waiting for their results umarkhan5 – patience is obviously something you still need to learn!
I doubt it. It’s probably sorted by something like ACCA number or submission number
umarkhan545 wrote:BTW what are the cheapest options of to the UK after this degree for international students? And I have heard that once in the UK you get hired for full time but your official wage is for part time due to visa restrictions however they pay the rest of your wage unofficially in cash. And that this way you can make 1500 pounds a month?
I doubt any legit accounting firm would do that considering it would be illegal.
Still waiting in Ireland. Did anyone get an email to say results would be released today? I know in previous years people did but I haven’t had any correspondence since I paid the fee.
umarkhan545 wrote:BTW what are the benefits of getting a degree from OBU? Can you use this to get a job elsewhere? I mean it is a so called UK degree so what are the benefits of getting this UK degree?
I did it because I want to move to Canada and you get extra points in the immigration system for two degrees, ACCA also counts as one. Plus having a degree makes it easier to become a Canadian CPA, as they don’t recognise ACCA as a degree for the purpose of mutual recognition.
Like loads of other people I was convinced I failed but got 64%! I thi bnk they might have marked it easier because they didn’t want the first sitting of the new format to have a high fail rate but I don’t care because no more ACCA exams for me!
@andrewmark89 said:
A point on the cow place. They do charge GBP 99.While this place is and always has been free! (Just a FYI for anyone considering)
They do, but compared to the price you would pay for most course thats a steal, plus they are really supportive.
I went to lectures for all of my exams but ended up not being able to sit P2 when I planned because I was sick and failed P5 by 2% so had to resit. When I was studying for them again I used the website with the cow that open tuition won’t let me mention, probably becuase it’s their competition and it was amazing, he explains everything so simply and clearly unlike the lecturers I had. He doesn’t assume you know everything from previous exams and he tries to make it more fun and interesting which helps alot. I definitely recommend using them
@anthonyrobson said:
My first exam sitting for 3 years,I did University, got my exemptions from the F papers and literally didn’t do anything for 3 years except for work but decided I should really complete my studies now… only got 4 exams left… oh you know what? i’ll try and do that SBR first (no idea why i didn’t do SBL first)
So yeah i kind of see that exam as a trial run as I am certain I will be back in 3 months time doing the resit
I sat the UK Variant (mainly because I want to open my own practise later on in life and apparently you need to pass the UK variants of these exams for the certificate? correct me if i am wrong) and I would say there was probably around about 10 achievable marks for UK specific answers. It gave a scenario about Intangible assets and development costs and you would have to identify why the situation would be different under FRS 102.
But as regards to the whole exam… where was the big consolidated statement!?!? I felt like I was writing a series of essays not doing an accounting exam, my hand was cramping beyond belief. hopefully on the resit there is a big consolidated statement question because I actually find them quite fun to work through…
Anyways, see y’all for the resit in Newcastle 🙂
In Ireland I think you only need to do the Irish version if you want to work as an auditor, but not sure if its the same in the UK.
Agree with the cramping hands, mine is still sore today! I’ve sat 15 ACCA exams now and this was by far the worst my hands felt after!
@velilevera said:
Guys please stop discuss the answers, some of us will commit suicide, this paper was difficult.I don’t know how people can even remember what they wrote! As soon as I leave the exam my mind just empties haha
It’s a nicer paper than P2 was but I still failed and my hand felt like it was going to fall off by then end.
Passed my first attempt of the Irish variant with 54%, disappointed I didn’t do better but thought I failed so happy days. Just one ACCA exam left to do now, but more importantly I can now register for the separate Irish Tax Institute exams because I’ve passed P6!!
@paulcostelloe1000 said:
She was transferring the business to a favourite niece/nephew, so she would have been entitled to RR for 3million, however, she has used 150 of her alliance already, thus reducing her RR entitlement to the 2,850,000. It would have been 500k if the disposal was to a third party, reduced from the normal 750k if she was between 56-66. I think this is rules, but me head is fried from the hot weather and tax legislation. I don’t feel confident of a pass, kinda was thrown stuff down without answering the requirements. The two sittings a year is a Joke, it should be raised if possible to bring it to 4 in line with the international papers.Oh crap haha well you learn something new everyday!
I really hope I passed, as I was planning on starting the Tax Institute exams in October but won’t get exemptions for part 1 until I pass P6 🙁
It’s crazy what exam stress does to you, i was forgetting basic stuff that i do every day in work!
@paulcostelloe1000 said:
Hi all,I sat the Irish variant too, however, I can’t seem to remember the questions very well.
Do you remember in Q1 the various transfers Lorraine was making i.e the business premises and apartment, would the transfer not have been tax free as they were between spouses ?
Then to follow on, the better option was two because if Charlie occupied the apartment for three years after the transfer he could sell it on then availing of PPR. Lorraine in turn could sell the business premises and avail of RR because it wasn’t practical for her to transfer the business premises to Charlie because he was only 36 and would have to wait 20 years for the relief.
What are your thoughts on this ? This requirement sent me all over the place, I couldn’t iron out was going on, I needed more time to think the scenario through.
Then the last 18 marks confused me too. Lorraine was able to utilise her remaining RR of 2,850,000, the value of the company was no where near that value so RR fully covered the liability.
Her favourite niece had 30k left as a class 1 threshold after using 280k from a gift from her mother and she availed for Business relief and there was no CAT liability.
Something must have went tits up with that question for me ?. I think I could have thrown it away on Q1. I didn’t remain composed.
I found it time pressured being honest. Time management is hard.
Thanks mate
Where did you get 2,850,000 for RR, was that a typo? The max RR was €500,000 because of her age.
I completely ran out if time towards the end and was throwing anything onto the paper. Finally figured out what to do in a question just when time ran out 🙁
@rogman228 said:
I sat the Irish variant.It was hard as any high level tax exam is bound to be but if you knew your stuff and practiced enough past paper questions to learn then it become an okay exam.
I think it is a fair examiner. The exam is time pressured but still more than doable in the 195 minutes.
I highly recommend Julie from accountancy school if anyone is looking for tuition for the Irish variant. Her lectures and advice are brilliant.
Q2 was very, very similar in parts to a question asked in 2012 on revenue audits. If you practiced that one then you knew at least 3 of the 7 issues well enough to score full marks for this question I reckon. There were minor twist like I think the staff in issue 4 IIRC were low paid this time where they were high paid on 2012 so you used the lower tax rate. But that is all.
Some issues with the exam hall which I will leave for the ACCA feedback forum. We could hear girls on a school tour giggling at times during the exam making a lot of noise and then all the exits except the lift were closed off when leaving the exam. A normally excellent venue was disappointing this time.
Overall I gave it my best and have no regrets. Answered all parts, nothing scared me too much, etc. And the difficulty of the exam vs time was well balanced.
I’m glad I’m not the only one who was annoyed by the kids outside, it was really distracting. Also the room I was in the desks were facing a massive window with sun beaming in.
I noticed that about question 2 aswell so hopefully picked up some marks there, although I put deliberate behaviour for most of them because it seemed like clear tax avoidance.
I made a complete tits of the exam though so I’ll be resitting in December. Which is another annoying point, it’s not really fair that the Irish paper can only be sat twice a year!
Failed in December with 48%, but got 50% this time! Not the best result but considering I only studied for about a week because I was sick and wasn’t even going to do the exam I’m delighted.
66% and 60% on P1. 10 exams done in 18 months and passed all first time.
Only 4 to go, I can taste the freedom!
@crennella said:
The Fixed costs in the NPV didn’t apply has they already existed independently, i.e. not incremental as the existing factory incurred them. Did anyone agree with this approach?Tax was stated paid in arrears, so T2? Think my answer was $1.2m.
Yep i left them out too and gave a written explanation as to why. My lecturer always said if they weren’t project specific to ignore them, which I think was the case in this question as they would be incurred regardless of if the project expansion took place or not.
The tax threw me with the tax being in arrears and the depreciation being from the beginning of the first year of operation. I think I just put it at the start of year one because there was no profit to set it against in year 0 but don’t think that was correct.
