[szilvana]

Failed on 45%. No idea how.
SBL became my last obstacle

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@accastudent1986 said:
Passed with 50% it seems that a lot of people also got 50% so wonder if acca bumped a few peoples marks up to ensure pass rate is around the 40% mark

Yeah, very interesting….

[szilvana]

2nd attempt, 50%. Over the moon!!!!!!!!!

[szilvana]

Well, I expected better than 53 marks, but attempted 3 exams and passed 2..
Only 1 to go!!!!!!!!!

[szilvana]

@yogeniem23 said:
In the Q3a
I think it should go like:
Value of acquiring co.= 50m shares × 6.5 = $325m
Fcfe of acquiring co.= $325m/8=$40.63m

Value of victim co. = 7(1+0.03)/(0.15-0.03) = $60m (using gordon growth model)
Fcfe of victim=$7m which is given

Value of combined =(40.63+7+5)*8=$421m

Gain in value = $421-(325+60)= 36m

Offer of 5 shares for 1 of victim gives 10m shares to victim.

Share value of new combined company= $421/(50+10) = $7.02

Gain by victim= $7.02*10m shares – $60m = $10.2m (17% gain)

Gain by acquirer=$7.02*50m shares – $325m = $26m (8% gain)

Anyone dome this.
Correct me if i m wrong.
Let me know if anyone has done it this way.

OK, I had a different approach, I valued the bigger company based on share price and the smaller based on fcfe growth.
I don’t even understand why I should have done for both, growth rate was not given for the big company.

[szilvana]

I left Q2 last and run out of time. Such an idiot, I missed out on the easy marks..
I hope I’ve done just enough, I don’t want to sit this horrible paper again!!!

[szilvana]

The exam paper is available on the Acca website under past exam. You can find your answers there

[szilvana]

@saraf said:
I thought this was asking how would the firm decide what targets to set for staff, so I used the building blocks model to explain that targets set would need to be considered achievable, fair and have ownership. In the appraisal systems the above would stand plus they managers would need to clearly articulate to the staff both financial and non-financial measures in a clear manner so staff are assured that they are in control of those targets.

I had a similar approach but combined with the balance scorecard and how the reward system should be aligned to that.

[szilvana]

@dskinner83 said:
I believe from what I’ve read/head the examiners will accept valid points even if they aren’t from the model answers.

Because there are so many ways to answer the questions, they can’t include every possibility in the model answer, and students could make other perfectly valid points which will still score.

And that’s where my hope lies!!

[szilvana]

I’ve done most of my modules with BPP. Tried First Intuition once but just wasn’t enough.

When Kaplan offered a 6 week tuition on F7 (evening Live Online), while BPP 4, I decided to change (value for money -I thought).
Within 24 hour of the course starting I ended up cancelling the whole thing and going back to BPP. The technical quality of the lecture was awful, the teacher had such strong accent I could hardly understand what she was saying, and the fact that she used her mobile for video call didn’t help… (I got a headache after an hour).
I know people who prefer Kaplan, and I do question BPP sometimes but for me it’s still works better.
If you are undecided, keep in mind that you can cancel the course within 14 days of enrollment if you are unhappy!

[Author]

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