[seaweed12]

There were no calculation part except for JIT?

[seaweed12]

Hi
I got another variant, no hard questions but very time pressured.

1st question was on change in management systems whereby an electrical company wants to adopt kaisen costing, JIT and Six sigma in different departments and we have to assess whether it would fit the organaisation. Not much details were provided on the company, it was hard to relate the scenario to the answer.

Q2 was on variables used to assess students and lecturers in university and whether the variables were appropriate. For student, i said that some variables were not appropriate as time spent on learning platform did not mean that they were actually studying. I suggested that number of clicks on the platform would be better a Performance measure. 2nd part was on measurement for lecturers. I said that the measures were not appropriate at all as the lecturers had no control on the amount of time a student spent on the platform.

Q3 was on BSC in a hair saloon chain. The 1st part was on whether the metrics were balanced, and included exernal internal short term long term factors. Then on problems linked to implementing BSC. Quite straightforward question this one.

[seaweed12]

Hi Mihaela, for Q1, i said yes for the $1m as well but added an assumption stating the CEO stays in the company for the 5 years. For the impairment i said that goodwill impairment cant be reversed and any increase should go in OCI.
For Q2 there was a threat to her professional competence as she does not have much knowledge on big data? in the end i wrote that she shouldnt accept the position there

thank God i didnt get the paper with segments…this topic is quite rare

[seaweed12]

Section B Q1 was on APMs and the need to re calculate ‘adjusted profit’ due to a restructuring and a pandemic. The skeleton provided was a bit weird and I didn’t know where to put the adjustments… some costs were included in the adjustments which were not related and we had to remove them and explain why they should be excluded from the adjustments.

Section B Q2 was the sale of a Park and how the deferred revenue (probability of future profits receivable) should have been accounted. I used EV to calculate at start and at end, and increased the deferred revenue at year end.
Then there was a question on the valuation of a building (PPE) and the land. Not sure I got the right figures but the value I got for building was $5.5m and land $15m… not quite sure because the building was at cost of 30.5m at start. The impairment/depreciation seems huge (30.5-5.5).

Section A Q1 goodwill. Then impairment and reversal of impairment? Can’t remember. Then part 2 was on associate? I said that the other 60% could take decisions together and profits were shared equally. There was also a calculation question but I didn’t have time to attend this question…

Section A Q2 ethics was ok-ish

Let’s just hope I get enough marks to pass!
I’m sitting for APM this June 2023, if anyone is willing to be my study buddy, feel free to send me a message on scarlet.ed.v@gmail.com, thxs.

[seaweed12]

My NPV was around negative 15m… not sure i did good… but i guess it was supposed to be negative, then we have to say something like with the option to delay/sell, then the npv could become positive? The capital expenditures were so high ?

[seaweed12]

The exam was a bit weird…
Q1 was on currency and interest hedging, which included interest futures but to hedge against currency fluctuations… not sure i understood the question.
Q2 was on Npv which was negative? And a big theory question on how BSOP could be used to add value to NPv analysis (this one was ok)
Q3 was on forecasted cash balance and Balance sheet (weird that this type of question appear in AFM, usually i would expect this in FR) and on how the type of finance was viable and acceptable by the debt providers…
Felt like i did really bad in this one…

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