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Has anyone who has seen “M” also checked the link theory? Just to confirm, the link theory is seeing a grey and white ACCA page right?
Just to confirm; people who are seeing S can’t see the tick box, and people who see M can see the tick box?
On E- business, the welcome page – If you press Ctrl U row 215 to 226 what does it say?
If I google ACCA e business and log in – I get student @ ACCA etc . However if I click on the exam results it takes me to the members part of ACCA website ( CPD)
Hi All
Really tough exam for me; here is what I can remember..let me know your thoughts..
Q1
a – I wrote about how SSE would apply and the loss isn’t allowed
In regard to selling the trade assets, I calculated the base cost of the building (oribi I think) with the revised based cost as ROR was used previously. The other building was NGNL as within group but would be chargeable when the company is sold.I remember something on VAT regarding the buildings? Spoke about how <3 yrs is auto but in general exempt, if they opt in VAT is claimed on the input running costs etc, also if they opt the selling price may be pushed higher and will also give them a cash flow advantage
.The tax avoidance/evasion was pretty straightforward.
Q2 – Tough – I only calculated the tax for Dee and not her husband who was UK res but non dom – what did people do for this?
Couldn’t remember the part about the gift… I pretty much summed it as the husband is a basic rate tax payer therefore should receive more of the share to utilise the lower tax brackets
Q3 – Cant remember, mind is blank!
Q4 – couldn’t remember a great deal, although how to deal with the motorcycle bugged me!! Its a capital gain for the individual right? No sure on the company…
I put you can capitalise the 2m for legal fees, however there was an impairment indicator as the FVLCTS was lower than the CV…anyone else put something similar?
Hi all
How did we find it?
I thought the question 1 was kinda straight forward – I had two subs to consolidate (80% for alston and 70% reduced to 60% for Plymouth).I got a negative GW for Alston(28m)I believe. Impairment was tested a lot, I had the PPE as impaired by 14m. The only thing that stumped me was the NCI movement of the disposal and finance instrument. I showed the instrumerment at FV at 49m with the gain to OCI?
Q3 was okay – more essay than numbers.
I didn’t like the look of Q2 so picked Q4..interested to know other thoughts?
Sean
Thanks all – did anyone else do a SWOT analysis for question 1 part a) evaluate the current performance of the company over the 10 years? 12 marks, assumed 4 marks per heading? I spoke about the financial but mainly SWOT and how the strategy drifted from the market trends?
Hi All
How did you all find the exam?
It was a fair paper for me, for part a.) I mainly discussed SWOT for the 12 marks for evaluating the performance and included the strategic drift in the summary – which models did people use?
I suggested Rupert mainly used the lens of experience, as he was against try new things, i.e. website development. The new owners where very much the rational planning model approach, mission statement – corporate appraisal and environmental etc.
CSF & KPI mainly spoke about the VC was more profit driven etc, CSF – profitability YOY, grow market share, few others. KPIs- ROCE etc
Mission statement and IR was okay, spoke about how mission statements should offer value, strategy and purpose – the mission statement seemed to specific and didn’t address the above. Also, as it was the first mission statement, stakeholder may already have an ideal mission statement given the change over.
2.) I had Supreme holiday as a cash cow and heartland business, big profits, first acquisition so understood it well.
Virtual gym – question mark, huge growth potential, however slow to catch up in profit – can allocate and invest or diversify away.
Pro Drinks – Dog and alien business, ALG didn’t understand the market after failed attempts, slow growth and poor profits, should sell off.
Benchmarking – spoke about internal, external, functional and strategic, didn’t see it was only for the customer service part though!!!!
4.) Wasn’t my greatest attempt, post implement review i put was comparing the implementation to original plan, benefits realisation to original plan to ensure these were realised and post project review was comparing each part, i.e. initiation, plan, execution and control to what was originally set out.
Interested know how other people’s approaches to the Q’s!!
Hi All
How did we all find it? This was my first professional exam and first sitting, found is very time pressured and tricky, especially Q1. I done two NPVs, one for P country and the other to show the effect in any CAPS country. 1 Positive and 1 Negative. Messed up on the exchange rates for P/$, found it very tricky so used OFR based on the current inflation. Also missed off the 60& contribution and apportionment back to the US company ! ! !
I chose Q2 and Q4 – thought they were okay considering.
Interested to know other thoughts.
I think i put 500K for that, wasnt it 1.5m in development, and was being sold over 3 years?
I picked 56,500, wasn’t it FV less cost to sell which were 2% sales tax and $1 per one sold?
Hi, my response below:
1 – I had 6400 i think. 100K – discount – £5K transaction cost @ 8%
2 – yeah credit 4290 i think
6 – same
9 – same
10 – receive 2500 cash 1500? think it was A
11 – 3 options, think it was D (present, probable, reliable estimate)
12 – A was a sub, think i worked it out as it held 144 of 280 votes, which is more than half. the other wasnt as it held 45% regardless of whoever doesn’t challenge themCant remember the rest, Section b was ok. Interested to know other thoughts.
Sean
hi all
May be wrong..was I the only one who had 150M for the loan on Q32? 20m Shares @ 75% = 15m / 100 loan notes issues per share acquired, x $100 a loan note? Again, did anyone get 2 PUPS? (the 700K also)
Ah, I wasn’t sure if you were allowed to net of the revaluation against the same/different assets, lesson learned. Looks like I may of messed up Q32, didn’t disclosure separately, just adjusted for all transactions, then again I was running out of time.
Hope we all pass ! 🙂
Hi all,
How did we find the exam? It was pretty fair.
From what I can remember:
Section A : okay, wasn’t sure on that group profit and NCI?
Section B: for the revaluation on property and plant, I offsetted the impairment to the gain giving me 225k?
Section C: share issue of 32m loan of 150m and nci of 9m, the provision confused me and ended up deducting from net assets to give me goodwill? Think I should of added and it would of been added to ppe.
Am I right in thinking we had 2 PUPs?? One for the inventory then the additional for the 700k?
Question 31 was okay, I adjusted for the rent and management charges based on the actual figures then took off the non core?
Sean
How did you find the exam? I’m awaiting F8 as well, felt like I was repeating myself but overall was okay!
I said 1 Nov for that one..the threshold was breached in Sept 15, have to inform HMRC within 30 days and start charging VAT from the next month i.e Nov.
No idea if it was right or not
Hi All
Overall I thoguht it was straight foward with challenging questions in some places, could of been worse!
What from I remember:
Section C
Q31 – Worked out as normal income tax payable, NIC etc. Then the same if he didnt take the £8000 and 45600 in dividends, compared the savings. Think I got around £8K better off.Q32 I got a tax adjusted loss of £7930 I think, off set it against employment income. (Didnt deduct the second subcription)
Q33 – cant remember much on this one,
I got a balancing charge for the ceason of 15,300. Done the decuts/add back as usual. Pretty sure you still get capital allowances on pool cars? I also took the laptop into account.Few things that bugged me:
– VAT section B – I had the input VAT as £180, didnt take into account the surcharge?
– Unsure on the last two for IHT on section B, guessed.
– Loss of 108800, took it against total income, had a loss of 6500 b/f?
– Cant remember the other MCQs in section A…Roll on 17th Oct! Best of luck all
Sean
How did you find F5?
They have relased the answers to the Mar/Jun paper on ACCAs website!
Also waiting for F5 results 🙂
TP Quetions – suggested a TP price between 20 (VC) and 37 (external). Should transfer all units as has the capacity to do so.
BEP Q – Discussed the semi variable, step up, difference selling prices etc.
Q5 – Sugguested to close school 2, found this Q hard. Pretty much totalled the costs of disposal and went from there.
ABC Q – I sgot around $75 for the first, and $99 for the second? Anyone near me?
Guessed the MCQ’s mentioned for learning rate and mark up, what did you all put for that through put MCQ for multiple limiting facors (labour and machine hours)?Really stumped me!!
Overall tough paper, best of luck to everyone in 6 weeks!