[sthilaireg]

53 P7
52 P2

Affiliate now!!

To those of you who did not pass, don’t be discouraged. The June Exams should be better because that question two in December was a killer. I don’t think I got more than 5 marks on this question. Anyway I am done and thanks to OT.

[sthilaireg]

P2 52
P7 53

I am done!! Affiliate now!! Thanks to the crew at OT.

[sthilaireg]

For the material misstatement, I did Inventory, Provisions, Borrowing costs (the loan for the new plant ) and the overdraft/cash and their presentation in the SOFP.

[sthilaireg]

O.K.

So in summary:

Q1 Business Risks 12 marks
4 Misstatements 8 Marks
Ethical Issues 8 marks
Insurance claim 8 marks
Professional marks 4 marks

Q2 Change in Materiality levels during planning 4 marks
Advantages and disadvantages of joint audits 6 marks
Accounting (various IASs) 18 marks

Q 3 Tender documents 8 marks
Ethics (Financial controller and Internal/External audit) 8 marks

Q4 Revenue recognition 6 marks
????? 6 marks
Forensic Audit 4 marks
Can someone please fill in q 4.

[sthilaireg]

Reasonable exams but time pressured.

Thanks for the breakdown on q1. It was my my best question. Reckon I should pick up maximum points on the business risks and the 4 misstatements. (I even worked out the borrowing cost to be capitalized here ($0.46 m).

Question 2 was horrible and I did not even touch the balance sheet notes.
Don’t remember the second part of question 2 for 6 marks but I think I answered it.

I did questions 3 and 4 which were not difficult but was time pressured. Dropped marks (maybe up to 10 in total) on these questions just for not attempting parts at all. Horrible, because they were easy marks (Internal/external audit ethics in q3 and forensic audit in question 4)

Anyone with the breakdown of the marks in questions 2, 3 and 4 please post.

[sthilaireg]

Thanks to all.

Ofcourse I always use OT particularly for revision. I find the OT course notes are extremely helpful.

I finally registerred with LSBF for P2 and with BPP for P7 (online courses both).

Thank you to all those who commented. Very useful.

[sthilaireg]

I think it depends on whether you are better with numbers or letters (reasoning and discussion type exams).

I my case I had no problems with P1, P3 and P5 (passed on first attempt with good grades).

However, I struggled with F7 (tried 4 times before passing: 35% 40% 32% and finally 56%).

I have tried P2 once so far and failed but I don’t think it is as difficult as F7 eventhough the workload is greater.

[sthilaireg]

Very tricky exams. All the difficult stuff – Groups, losses, difficult to remeber exempt benefits, tax forms and a very tricky question 4. Did most of the calculations in 1 and 2 but was not what I expected. No chattels, no real Income tax computations, only 4 marks for VAT calculations, Corporation tax all over the place in almost all the questions. I would be luck to scrape 50 marks on this one.

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