Forum Replies Created
- Posts
I had APV 50 mark question as well. I am kicking myself, I seem to have messed up the ungeared Ke section. I don’t know how, I had done it so many times. My result was 16% for some reason.
Forgot to add back the tax depreciation as well. Don’t think I got the swap right.
I attempted the other 2 questions but probably didn’t do enough for a pass given all the mistakes.
I had the same paper as you. There wasn’t that much to say about operating segments, in my opinion? I added some things but not sure if it would be enough.
No revenue or leases at all.
The first question in Section B was also quite tricky Fernanda Co. Totally messed up that one.
Passed with 74%, also passed FR in this sitting so off to the professional exams in December! 🙂
I struggled with that one as well, as sample taken by intervals should be systematic sampling and there was no option for that. I went with monetary unit sampling only because the monetary unit was taken into account in the selection process (however, the balances were not weighted).
I went through the course notes after the exam but this is still not clear.
No, there are 100 marks in the exam not 120. So if you get 65% right your result will be 65%.
The exams can be different when it is a CBE. I had the same question as you on the general and application controls.
I had the same questions as you. The one about the tax and administration fees I put neither as well, but it was a guess.
The one about the journalist and the disclosure of information I marked that the the auditor could not disclose the information without the consent of the company because it related to laws and regulations. But I thought there should be an answer saying that the auditor could not disclose without the consent of the company (but not mentioning laws and regulations). In any case, I selected that because it seemed to be the closest to what I thought it should be.
You are absolutely right! I found the MCQs the hardest part of the exam. I had practiced a lot and completed all multiple choice questions in the BPP revision kit twice, but had no idea how to answer some of them. Of the 15 question, I think I was certain of only 5 or 6? The rest were guesses based on context.
The long questions were really straightforward – I got audit risk, control deficiencies and recommendations, and substantive testing of revenue, bank loan and NCA.
@rhydem said:
I had a table of the figures and used formulas rather than calculating manually.So if I moved any line – the cell references would change completely. Was really annoying, I forgot to include the fixed cost and it took me an extra 20 minutes to rework it and ensuring all the references were now correct
I think this is the biggest problem with their version of Excel. I always use formulas to do the questions and if for some reason I forget something and need to insert a line, I have to copy and past and re-do the formulas. It makes no sense that the formulas don’t change automatically when copy paste is used. Or that you cannot insert lines.
In any case, the version is still better than the BPP or Kaplan mocks, their Excel is an absolute joke.
@Mattbryan66 said:
I think it was Non-current Assets which increased by 11% which might be where the confusion was. But you will still get Mark’s for all the other bits filled in even if a few bits are wrong so I wouldn’t stressHa! That might have been it. I got a bit annoyed with this question and guess I read it wrong. I did the same you did for the rest of the question do hopefully will be enough 🙂
@Mattbryan66 said:
I got this question as well. Once I worked out the values the Assets balanced against the Equity and Liabilities so I’m hopeful I got it right. If you copied the heading from the current year and added in a new line for the 8% Loan raised to finance expansion, filled in the figures given such as 700 cash 3000 overdraft 6618 profit to retained earnings this just left the Inventory Trade receivables and Trade payable to be filled in using the new Revenue and cost of Sales figures. I could be wrong though!!I think one of the things that confused me in this question was that it said that non current liabilities would increase by 11%. But the loan notes alone would increase the non current liabilities by more than that if added to current figures. I don’t know, I got a bit nervous with this question and might have missed things. In any case, I’ll see in 6 weeks hahaha
@jaclyn97 said:
I feel like they didn’t cover enough material?.. it was so much loan and get, which is a topic I didn’t cover too well but fingers crossedYes, I felt the same way about my exam. I got a lot of questions in the same topic. I had spent a long time studying CAPM, theory on cost of capital, theory on WACC, calculation of cost of capital, risk and uncertainty, etc and in the end there were maybe 2 or 4 marks for all of those topics combined.
@nancyox96 said:
No, I had the same question and was completely thrown because hadn’t seen it in any past paper questions! What did you do?I added the investment as NCA.
Calculated revised receivables, payables and inventory based on question info.
Updated cash balances and overdraft to question figures.
It did not balance so I just put the rest down as reserves.Ugh, think I messed up
Anyone really understand what we were supposed to do in the revised SOFP question for Section C? Was not prepared for that at all, had not seen something like it in past questions. Also, no CAPM, just one discounted cash flow question. Loads on money markets, fx and company valuation.
Overall, not great.
Passed! Got 64, think I probably got a zero on that Section C question with the multiple constraints that required linear programming. But delighted to have passed anyway! Thanks, Opentuition and John Moffat for the brilliant lectures!
@smeriem said:
There was question about Linear programming in my section C and I was really puzzled about constraints. Because there was only common number of labour hours for 3 products and I did not understand how I have to allocate them. How to draw up an equation.I had the same question. Absolutely no idea how to answer that. I tried calculating the contribution per day of each training program and seeing which one had the highest contribution per day and suggested optimal production based on that. No clue if I will get any points from that.
I tried doing linear programming on part b to calculate shadow prices but I had no idea how to create the equations, especially since there were three variables. So part b and C were left unanswered. I was lucky that my other section C question was on divisional performance, ROI, etc, hopefully that will be enough to get a pass.
