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anyone say Z and A were in corp tax group etc thus upper and lower limits divided by two?
Can anyone tell me if they calculated the car benefit in Q3? i dont think that wes required as it wasnt a company car and he either purchased it outright or leased it himself ?
Agreed impossible exam i have left feedback and think we should all make the Examining team aware of how impossible the exam was. I prepared so hard for this exam and like you went in with so much confidence, i have done difficult papers before and failed but never felt short changed because although they were difficult they were fair
This exam just wasnt fair, it didnt even give us a chance
@bushra0525 said:
i received the feedback email today and I completed it.but I feel I need to do more to make sure ACCA and the examiner know what this paper has done to many students.
especially when students don’t know what wrong they did.
this was my second attempt of the paper. my first fail was to do with time management and it was a fair paper. I have worked on my time management since then, attempted all questions in the Kaplan exam kit. I sat all assessments and revision mock in time condition.
the day before the exam I sat the qbd Kaplan exam paper and I got 58%. I went in there with so much confidence.
what else does the examiner want us to do. I am really emotionally touched with what happened and I want ACCA to know.
does anyone else know what to do apart from the feedback?
Hi Robert
May i know what the secret to your success is? Is it past exam paper practice? Do the BPP materials adequately prepare you for this? Or is there more to it?
“To whom it may concern
I would like to formally voice my utter dismay and concern around the current status of the P5 examination.After now sitting this paper three times (after no doubt failing the March 16 session), it is clear that the examiners approach to this paper is simply impossible. You only need to look at the current trending forums to realise that the ACCA needs to wake up and do something about this.
I wont go into the detail as no doubt many many students have now made you aware of what’s happening here- all I will say that day by day the truth about this paper is being exposed to every student all around the world and is deterring further students from sitting P5.
I for one am giving up on P5 and switching to an alternative option, not because I don’t think I’m good enough to pass this paper, but because I know that deep down no matter what I do, I will fail this paper as the exam is a lottery and the 30% pass rates are simply unrepresentative.Those whom I have spoken to who have managed to pass this papers DURING Alex Watts tenure have also said that the way they performed in the examination had no bearing on the passing the exam as simply it doesn’t make sense. I fear the ACCA are damaging their reputation massively, if not already have when it comes to P5.
It seems like the only way to remotely complete this paper is to write in note form with brief answers without thorough digesting the text, as if one if expected to write ‘quality answers’ per the examiners suggestion then doing this in 3 hours is simply impossible.
I will now discourage anyone from trying to attempt this paper as it is clear that P5 is simply becoming a cash cow.Regards
Michael
I have also complained. If there were such things as an Accounting Body ‘Ombudsman’ they surely would have shut down the ACCA by now due to the negligence shown on the P5 paper
Perhaps a serious petition should be started to highlight how impossible the exam is.
How on earth are you supposed to have time to write full sentences, let alone provide quality answers!?I felt that in order to get anywhere near to completing it, i had to bullet point answers and write in almost note form. Even then i only answered about 70% as the rest of the time was spent reading through the text
Somethings got to give here- clearly the ACCA are making a lot of money out of this so perhaps we all just sit other options instead which will mean nobody sits the P5 exam and then they may make the exam realistic – hit the ACCA where it hurts most
I am going to be writing a letter of complaint
I know ACCA do not reveal examiner names anymore but does anyone have any info or educated guess on when the next new examiner will take over for P5?
Third attempt and this was the worst of the lot.
Just could not calculate anything in Q1 and what on earth did it want me to recalculate?Funniest post ive ever seen!
@stuartpearce said:
Very time pressured. I made the mistake of leaving Q1 once I had run over the allotted time, at which point I had hardly started the question.Then I returned to it in a hurry, trying to think of business risks with what I could remember of the scenario – all I could remember was the rabbits.
I thought of one risk now – which is customers could buy the bunny rabbits thinking they might do something funny and then returning them when they are not funny. Maybe the risk would be understatement of warranty provision – however do rabbits come with a warranty?
The flip side is the risk that someone buys a rabbit that is funny and they put it on youtube and blame it on the pet shop. The risk would be to reputation and hence possible overstatement of inventory?
Staff are well trained so they should be able to advise that rabbits are not supposed to be for human entertainment – although that will be a hard sell as most people won’t understand.
Also what packaging do the pets come in? If they are too snugly packed they might not survive unless they are a spider or something.
What about the risk is that someone might buy reptile thinking it can do stuff which it can’t – like change colour.
Or they might buy one that does change colour and then return because it wasn’t following the rules.
Also the risk that some of the inventory may be consumed by some of the other inventory – you only need to type snakes into youtube to see what could go wrong here.
I think of all this stuff now – something tells me I haven’t passed.
Also did anyone make comments in relation to ‘implied’ options in the basis for opinion as insufficient info was available for provision and cash based payment to foreign bank?
Looking at these thoughts on Q1 i completely missed out IAS41 and mentioned something about risk that refurbishment costs are not capitalised in accordance with IAS16
Also re compliance risk i mentioned health and safety of employees in the event they were injured by the animals or insects
Am i way off the mark here?
I struggled to think of ROMM , just had a mind blank
Not hopeful
Guys seriously tell me what do you think the examiner really thinks about shocking handwriting? I find that for Q1 my handwriting ok and then it just goes downhill from there on as the time pressure increases. In the past however i have passed exams with truly shocking handwriting though not all the time.
Just how bad is everyone’s handwriting? Do you think the examiner really punishes us for the handwriting, i mean ultimately as long as he/she can read it (even if it takes them time) then we’re ok?
Did anyone get negative EVA after assuming 100% debt to equity means multiplying by 100% as opposed to 50%? Or have i got this horribly wrong and love marks for having a much lower recalculated EVA?