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First 2 questions were ok, second 2 were a DISASTER. So gutted, EMI/CSOP never comes up
This was a hard exam, hardly any information in the exhibits compared to the past papers.
Really annoyed as the advice from Kaplan was not to go over the syllabus too much, pull information from the exhibits… well a lot of knowledge of the syllabus was required in my opinion.
Not sure I got enough down to pass to be honest. We will see!
1.
Online grocery store with joint venture, annual subscription element, warehouse fire, international expansion financed by new loan.Business risk (10 marks)
Audit risk (16 marks)
Procedures relating to determining if joint venture or subsidiary (7marks)
Auditors responsibility with non compliance of laws and regs (7 marks)2.
Completion stage of audit. Subsidiary acquired after date, use of another firm for audit work. Some other bits I can’t remember nowEngagement quality review – Quality management and professional issues and actions to take (20 marks)
3.
PFI – cash flow – going concern issues relating to a book company. Acquisition, sale of range of books, new contract with promising author. So much other stuff here I ran out of timeCash flow assumptions that should be challenged (10 marks)
Procedures relating to cash receipts (5 marks)
Matters relating to going concern on audit report (5 marks)I got a business risk 10 marker! Typical as I pretty much only focused on audit risks
rushiiil wrote:Approximately how many hours per day on average did you study for? Over the two months? I’m working side by side, so i want to gauge if I’ll have enough time for preparation
8 hours a day every Sat and Sun and around 3-4 every Tues-Thurs evening. Gave myself Monday and Friday off. I also had Kaplan tuition paid for me by my employer, aswell as all the books and QB day with exam questions.
This meant I did every question in the Kaplan exam bank
I also work full time Mon-Fri
szorsi wrote:To all if you who passed SBR, how long did it take to prepare for this exam? Wondering if i have enough time until June and whether should do questions mainly or learn the rules etc (doing the course at the moment but haven’t really studied)
Any tips would be appreciated.I started tuition at the beginning of Jan and sat the exam at beginning of March, so 2 months.
Honestly, volume wise this is a huge syllabus. Lots of intricate things to remember for each standard and you won’t pass by only covering certain topics – everything needs to be covered as it can all come up. I would say 6 weeks is not enough time personally, but take a look at the syllabus and see how you feel and go for it if you feel ok with it
Passed first time with 55%. No idea how as I came out of that exam feeling sick to my stomach, but I am so happy.
Keep going, if you genuinely put the work in you will pass! Good luck everyone
joshwest12 wrote:Anyone know if it is worth raising the issue with ACCA? If enough of us do it?
Based on the general performance of everyone who took the exam they’ll amend the pass rate or bring more into the mark scheme to be more lenient. It’s based on averages
saarah99 wrote:The exam was so awful. I understand ACCA want to examine us to see if we understand the standards and concepts and can apply them but it is extremely unfair how they gave huge chunks of information, it made it impossible for us to read the information and comprehend the scenario within the time limit.
Agree with this hugely. I had to read the questions 3 or 4 times to get a grasp of what they were asking. I’m gutted as I genuinely put so much time into this and covered the syllabus well on the whole but 25 marks on EBITDA is obscene for the amount it is actually covered in the books.
Brain is a bit fried to go over it all and dissect at the moment. Maybe in a few days.
From what I’ve read, all borderline marks (47 – 53) get triple checked already. It is never recommended but one mark really is tough to take and may be worth the money if it means not retaking.
