[sudhir]

hey does anyone know if z score to identify financial distress in syllabus there is no question in kaplan kit .

[sudhir]

q1
what i wrote

complex structure subsidiary consolidation
manufacturing industry lot of inventory not stated at correct cost
overseas subsidiary economic risk
not following good governance prone to earnings management
if sale was sale and lease back arrangement
sale might be on higher profit increasing earnings for group
profit element and acquired assets were material to sub
not proper organisational status for internal audit control risk additional procedures.

[sudhir]

assurance can be provided but audit + assuarnce was the issue which will result in self review.

[sudhir]

there were 2 figures given one for plan assets and one for plan liab, but don’t know how mateliality of plan liab could be valid based on plan assets . there might be some other reason for that

[sudhir]

madisonaubin

I am talking about q4 part c ethics, q5 I did write emphasis of matter paragraph, also wrote communicate to those charged with governance and management , if still not resolved then emphasis of matter paragrah . I dont know why wrote it could question integrity of management if they do not disclose a note and further audit procedures should be performed .
If further problems then exercise right to heard in shareholder meeting take legal advise consider resigning .
there was no quality in my answer all mixed . I hope above points might be valid .

[sudhir]

how could i calculate materiality it only had plan assets and plan liab figures. initially I thought it was modified opnion so I could write about whether matter has been resolved. but then it was unmodified opinion 6 marks for this part , I hope I can full marks in part a and b

[sudhir]

what was q2 testing p7 or p4 . I could not figure out what to write, done it last 5 min i thought it might be asking procedures, I only wrote 2 lines agreed upon enquires and analytical . did think about writing org structure, ratios etc but no time .

Could some tell me if I will get 1/2 or 1 mark for those 2 lines.

[sudhir]

hi , what was the ethical issue in part c apart from valuation service not allowed for listed clients ?. why were those numbers given ?.

[sudhir]

Thank you , for explaining this sir . I have p7 on monday, had been revising that from last 2 days .

Is there any chance you could give us 10-15 questions from Kaplan revision kit that would cover most of the topic on last day.

I am not very confident about swaps, collars, floors, caps i guess that is going to take most of my time last day.

[sudhir]

Hi,

could some one please post that link here. I don’t understand this 1.64 if 5%and 2.33 if 1%

[sudhir]

.4708 is incorrect

.15415 + (.08125*2) = .3167

[sudhir]

yes thank you so much I wasted 3 hours on this . many thanks.

[Author]

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