[Tobi]

Hey,

Yes the hedging was very odd to me aswell . Both futures and options were a loss, thought I mocked up the basis along the way but I didn’t and just continued.

Went with options as well, as ftures are still marked to market daily and further loss could arise .

Hoping for the best ??

[Tobi]

The time frame for this exam is quite ridiculous giving the amount of information expected from the examiner.

I practiced a lot on my timing, however question 1 still took 1hr 30 mins. Quite baffling as I had Practiced to complete question 1 in 65 minutes

I rushed questions 2 and 3, there were some technical answers required however i had to adapt the strategy of providing recommendations and audit procedures first before commenting on the matters, this allowed me to catch up a lot as I spent less time thinking through the technicality of the questions

Question 5 was sincerely a gift!!! There were so many easy marks from this question .
-Recommending additional audit procedures
-critically appraising an audit repor. Both questions were worth 15 marks in total.
The audit report to be criticized was drooling with so many issues, it was rather easy to dissect .

I hope the examiners don’t penalize for writing in point formart.

All the best to all candidates

[Tobi]

Seems like we wrote the exact same risks. Did you copy me? ?

[Tobi]

Hi all,

This is my stance on question 32.

1. The tax allowable depreciation should be calculated as normal, but then all of the tax allowance should be recognized in year 1. The justification for this comes from F6 knowledge, and I had solved a question in BPP kit with the same trick.

The fixed cost should have been deducted from contribution, otherwise how would you charge corporation tax (certainly not on contribution)

2. The probability index calculation is simply NPV/ initial investment.

[Author]

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