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Seems a bit offensive to the people who passed to say alot of cheating went on which affected the pass rates. The pass rates fluctuate all the time based on the type of questions that are asked …. for example if you compare the strategic level pass rates from Dec 2018 against Dec 2020 then they are almost identical apart from AAA. Are we saying the Dec 2018 pass rates had cheating on them too? There may have been cheating going on, i dont know but unless you are in a position to judge every exam like for like then its unfair to comment. Personally speaking i did the ATX in an exam centre and i found the questions a little easier than the previous time i did the exam, I’m not saying it was easy and perhaps It was down to the studying I did or they might have just been a little fairer to answer?
My final exam and passed at the 2nd attempt with 61% having failed a couple of years back, my heart was thumping from half 11 onward but i was trying not to look at my phone. I couldn’t believe it when i read it but i’ll take it lol. Congrats to everyone that passed and keep going everyone, it’ll be worth it in the end.
Aaah yes i havent read that 1st question properly, completely skipped the budgeted next year profits even though i read it so didnt write about it. I remember about a couple of disposals too? One was paintings…. i put it was exempt as cost and proceeds were individually less than 6000 but i then waffled on about whether it could be considered a trade… i thought i better write something lol.
Re liquidation, i put 2 accounting periods where:
1 jan – 31 march and then 1st April to 31 Jan…Can anybody remember much about q1? For 35 marks i didn’t write much. Value of PET transfer, i just knocked off the AE available taking into account previous transfer, was that it or have i messed up? Related party question and then best way to relieve losses unincorporated business. What else was there?
Re q 4 I think if i remember the final 3 periods had a capital loss then a capital gain and then a capital loss. I didnt note it lol but i think capital losses can only be relieved by capital gains and cant be carried back so i carried the 1st one forward to the middle one. Middle capital gain i set off against trading loss of same year. Last capital loss i left unrelieved?
I can’t remember much about the exam lol, it was all a bit rushed. There was a related party question in number 1 wasn’t there (Uk exam)? Did the guy give away 200 shares out of his 20,000 or did i read that wrong? I just included himself and wife in related party not sister?.
On q3, i put that if she chose the remittance basis there would be no charge as hasnt been resident long enough but would lose personal allowance and annual exemption for CGT, think i got a difference of 1600 in the end? Not sure if thats right.
I was pretty annoyed with the terminal loss question on q4 as i’d studied that well but i just went blank, was there any overlap profits can anyone remember? I didn’t put any. I also didnt make any kind of notes apart from the loss memo so i didnt mention the terminal loss i calculated could be carried back 3 years… might have got half mark or mark just for saying it :(.
There was a question about annual accounting for vat, i didnt study that so didnt give much of an answer but i remembered could claim input vat for 4 years prior to registration and 6 months for services so hopefully half marks on that. EIS shares, entitled to 30% tax reducer, crawled back if sold before 3 years, no CGT if kept for 3 years? Overall, i thought it was a fair exam…. i’ve still probably failed but could have been much worse if that makes sense.@manas21 said:
Q2) I think the insurance business is dogs since it was low growth and low market share due to fragmented market and farming business as cash cows and tech business as starsHi- can you recall what you.wrote for strategy moving forward for these ? I wasnt sure what to say but said to get rid of the dog lol and perhaps the star to reduce price a little and try to take a bigger market share, kill off comp?
@anastassiya777 said:
first was in my opinion question mark.second cash cow and third star.about ashridge value trap second balast and third hearland.Yes i think i wrote the same. Heartland because it was a good fit with the parent and made up about 50% of gross profits of the 3 companys in question and was in the same country as other subs so could offer resources to benefit.
Really gutted with the exam. Felt like i did q2 ok and did bits and bobs for q1 but only had 30 mins to do q3 or q4. I knew harmons matrix really well beforehand but my mind went blank and i couldnt remember so did q4 as i remembered some parts of the cultural web but actually writing about in context to the college- i ended up writing next to nothing, didnt have a clue about part b. Ran out of time and wrote nonsense really lol.
