[somewherelse]

I did ungear to get asset beta… Didn’t the question say the combined beta was weighted asset beta of the two company, then to get the cost of capital for the combined company???

[somewherelse]

here is the link if anyone would like to give feedback about this exam. I think they consider the feeback before marking.

https://www.accaglobal.com/en/student/exam-feedback.html

[somewherelse]

and everyone just let the invigilator stop the exam early?????

@videsh_420 said:
The chief invigilator anouncing that the exam was over at 13:00 instead of 13:15, didn’t help. (London ExCel exam centre).

[somewherelse]

q1, seriously ran over in this questions, even after all that still left a few marks unanswered (i think it was iii additional fund bit)

q2, mostly starightforward, although considering i only had a little over half an hour to answer it, just hope that i can get more than half of the marks. i had to estatimate the futures rate using spot and futures rate ‘today’, anyone else did that too, or just me missing some crucial info?

q4 Macauley Duration was a gift! straightforward calculation and some discussion

q5 practically a p3 question. i put down all the factors polical, financial, ethical, coporate social responsibility, stakeholders, director renumeration and their risk preferences (the exminer wrote an article on risk management with share options in it) etc etc.

overall i did ok. when i had two days left for revision, i faced a dilemma whether to practise more questions or just go over the ‘proformas’ again. i did latter and it seems to have paid off as i ungeared and used CAPM, and terminal value etc ok this time!

also got great help with the p4 study gourp buddies on here and the OT lectures on hedging, CAPM and cost of capital were AMAZING!

[somewherelse]

i used the dividend percentage that way too :D. i didn’t think it was wise to seel share that way, but considering C didnt say in the question she didnt want the daughter not to seel them, i thought it was possible albeit not sustainable…

by tax shield, i only meant the tax saving in the lease payment, if it is treated as debt, interest payments on debt are tax deductable???

@saira3007 said:
I took the 4% to calculate dividends paid on the total shareholding, then to find out how much the daughter needed I did the dividend income required/dividend on total shareholding x total shareholding. Used the 25% to calculate the cost when working out CGT payable by the mum.

NO idea if that’s right but I was getting round numbers which I thought was reassuring(!) completely forgot about rent a room relief and I have no idea what a tax shield for leases are..!

oh dear

[somewherelse]

I found the paper was ok although I do agree that some requirements were a bit vague. The tricky thing with ACCA exams is that you are under time pressure. I guess if we were to do this paper at home we will spot a lot more knowledge point than in the exam.

I listened to all p6 lectures on OT so massive thank you for OT and the tutor. She stressed in her lectures that when unsure, state your assumptions, spell out what you think it is related to pick up extra marks. She also said that this examiner liked conditions. So I learned conditions of key areas and stated what I assumed in the exam when I thought it was vague.

Q1 I did a brief calculation in the daughter’s income, after tax etc. Then move on from that to additional income. I am sure I have made mistakes in that calculation, but many marks are in methods and approaches, so fingers crossed that I have picked up more than 50%. I used Furnished Holiday Home, and ‘rent a room’ in calculation.

The dividends and capital gain bit, I assumed that 4% was to calculate how many shares to generate the income she needed, and capital of a quarter bit was for if she sells to share in exchange for money??? I might be completely wrong here :-s

Partial exempt VAT was ok. The difference between an overseas branch and subsidiary was okish.

One thing to mention was that I stuck strictly to my time allocation. 1.8 minute for each mark. And when I got to nearly time, I scanned it through to pick up hopefully easier marks and moved on, i.e. transfer pricing, and tax shield for lease payments etc.
And I very quickly did most of the cap gain calculations in Q4?? The transfer of property, and the disposal of loans and shares. As I did this in the last 20 minutes in the exams, I probably have missed some relief which under normal circumstances I would have been able to.

I didn’t find the paper easy at all so fingers crossed for a pass!!!

And all the best with other papers guys!

[somewherelse]

Many thanks for sharing! best of luck with your exams fellows 🙂

[somewherelse]

Hi all

when arethe forth comning sessions for October please?
thanks

June

@Hamdy_Hafez said:
Dear all colleagues
I was very busy last two weeks at my work, & when I visit OT site I surprised that there were a lot of messages asking about;
P4 study group (how it work)
P4 free materials
Our time table for the study
So firstly please visit the here-below link to remind you that we’ve already refer to the mentioned time table which is according to ??? course notes (that I’ve already sent the first two parts of it by e-mail)

https://opentuition.com/groups/p4-advanced-financial-management/forum/topic/p4-free-material-news-for-share/

any way, it’s supposed that we’ll finish the first 10 chapters this week (end Saturday 18 Sep 2010)
so please firstly visit this link & we’ll start the first study session today for all P4 colleagues

see you next post

[somewherelse]

received the first bit of the notes etc. thanks very much. keep up the good work guys!

@Hamdy_Hafez said:
ok, let’s introduce our self
now we’ve 27 member on our P4 group as follow
1) June somewherelse_liv@yahoo.co.uk
2) Katie katiemelia85@gmail.com
3) Ali asadiki@cbrldp.mw
4) Esther.M makeit2003_d@yahoo.com
5) Teey teeyedanso2@yahoo.com
6) Rekindling rekindlingsoul2010@gmail.com
7) Naume choissure@yahoo.com
8) Asad asad_usman@msn.com
9) Ashraf Abubakari ashraff4u@gmail.com
10) Abdulsalam abduladedokun@yahoo.com
11) Evgenia khramtsovae@gmail.com
12) keshav adhikari kepriad@gmail.com
13) Raji rajicheena@yahoo.co.in
14) Daniel daniel.vnh@gmail.com
15) Whoami (E m r a a n) allroundar@yahoo.com
16) Priya pri_ya2000@hotmail.com
17) shine05 binh_ltt@nharonginsurance.com
18) roxannekoo@yahoo.com.sg
19) sallyk28@hotmail.com
20) asad_usman@msn.com
21) sdlling@hotmail.co.uk
22) Rave rave @accountant.com
23) pri_ya2000@hotmail.com
24) andrewdobell@btinternet.com
25) isookvi@gmail.com
26) sjoseph53@hotmail.com
27) (and me) Hamdy h.hafez@suezcem.com

also I’ve sent three e-mails include the following files (please confirm if any one not receive it yet)
??? slide course
??? course notes – first part
??? course notes – second part

& I’ll send the third part tomorrow
after that I’ll not send any thing for the lazy persons
I’ll just send for the active members
see your posts soon please

[somewherelse]

Thank you! Any tip to share please for passing the first time :D?

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