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Tricky paper. NCI for 100% sub was 0? I believe? How did people do goodwill? I think i got like 7.25 for one and 22 or something for the other.

The PUP in dollars was 9.
Intra sale 30

No idea how to do the carrying amount and taxbase? Anyone.

I think i messed up a bit. Hope to pass.

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What did people get as net cash flow equivalent figure? (33)

and good will was this full good will method? NCI was given.

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@sahil1234 said:
I have never said this before but this exam was a nightmare. Although Q2 and Q3 were relatively easy but Q1 SCF was definitely not. Or maybe I didn’t practice it enough as I really didn’t expect it to show up. Was hoping for a consolidation question. I just hope I pass.

Very time pressured for question 1 I watched Chris cashflow last night but when I opened the question today I was baffled and though I expected cashflow my T accounts were all over the place 🙁

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Anyone remember the questions ?

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How did everyone find that exam?

I thought it was very hard compared to previous sittings. The cash flow question blew away even though I practices it and watched the tutor revision video where he goes through the cash flow.

I had my final net cash flow figure as 33 (I included the 2 cash from the net asset at acquisition however I think it was (31)?

I attempted question 2 and 3

Question 2 SBP was bit tough too but the impairment one on IAS 38 was fairly straight forward.

Any other comments? What did people do with the cash flow? I really struggled.

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@montelik said:
For the ethical decision part of question 4, I applied ethical decision making (4 steps) rather than AAA, which is 7 steps. Considering it was 5 marks I felt it was more appropriate, plus I was pressed for time. Hope I can be fully credited for it, as it felt appropriate to the scenario.

Which part of question 4?

I mentioned only PICCO, Self interest, familarity and intimidation. I dont see how people have used AAA or tucker? Im baffled. Someone remember the requirements.?

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In all honesty the exam was not hard but they expect students to lose their hands. How much shall you write!!!

I did question 4 first. Ethical threats alot of self interest going on fairly straight forward.

Then i went onto the monster. I spent too long on unitary board that the time was ticking i cudnt write much for the letter. Was rather confusing what to write anyways.

So lastly question i just put pen to paper so my chances are slim of passing. Gutted. Why is time management such a issue for me!

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I got 3.8 too. What did people get for NPV first part? I did sales ninus cost got contrihution x by probabilties. 18450.

My final NPV was negative (137) anyone else got this?

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@mynameisearl said:
What mcq’s do u remember?

Some of the MCQ i remembered.

I chose the lease after tax option.

One of the MCQ i chose market segmentation.

How people did Shareholder return. I think dividend plus 0.32 divide 9.00.

Cost of equity i got 13.4

contraction fiscal policy was high tax n supply

Sales – varable 4000 minus 2000 / by NPV got 10 per cent answer.

Cos for the payable day ques was A 730 000 something

For the effectivness i chose C D

For the financial management i chose 2 only as option. Not cash flow but they do plan funding.

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@sharoz said:
For question 3 the issue of new bond had a cost of debt of 8-effect of tax 8*.75 is the real Kd.

Also for change in gearing we I assume we had to mntion something like gearing has decreased slightly because of issue of debt but in reality it should have increased because we issued new debt which would have increased the risk of bankruptcy hence share holder asking for more return but in our answer we have assumed share price constant which really not the case of reality.

also in NPV question Tax was paid in that year only so we were not to do any lagging.

It was irredable debt 8 per cent you had to use. Not repayable so you do not tax 8 per cent by .75 that is what i seen every where. So i did 16000/ 438 000 sumthing divide by 8% for wacc bit.

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Anyone get these MCQ answers?? Please confirm.

I chose the lease after tax option.

One of the MCQ i chose market segmentation is this correct?

How people did Shareholder return. I think dividend plus 0.32 divide 9.00.

Cost of equity i got 13.4

contraction fiscal policy was high tax n supply

Sales – varable 4000 minus 2000 / by NPV got 10 per cent answer.

Cos was A 730 000 something

For the effectivness i chose C D

For the financial management i chose 2 only as option. Not cash flow but they do plan funding.

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@england said:
I did same for Q 3 I did it seperate calculation for both and did u use money market and forward hedge methods

Yes. I said choose forward markwt as it was a payment.

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NPV Negative 137 i saw two of you got this which is good sign. After the probabilty i got 18450 x by the volumes

WACC 9.8 then reduce slightly.

The 16000 had irredeable debt of cost of debt you had to use 8% if im correct? Also add the 16000 onto the 432000 something for total market value which came to 438000 something

Company was over trading.

Regaeding MCQs as follows:

I chose the lease after tax option.

One of the MCQ i chose market segmentation is this correct?

How people did Shareholder return. I think dividend plus 0.32 divide 9.00.

Cost of equity i got 13.4

contraction fiscal policy was high tax n supply

Sales – varable 4000 minus 2000 / by NPV got 10 per cent answer.

Cos was A 730 000 something

For the effectivness i chose C D

For the financial management i chose 2 only as option. Not cash flow but they do plan funding.

Anyone agree with above? What people think? What other MCQs were there?

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@shoaibacca said:
increase which of the following the objective of maximise shareholder wealth?

1.share price
2.divident payment
3.earning per share
4.retained profit

Share price n sumthing else i chose.

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@acca145 said:
which answer you guys selected of expectation theory, invert yield, market segmentation mcq

Market segmentation

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@sobieski said:
in opentuition notes CLARISSA stands for “Role and function of the audit committee”

I would like the tutor to clarify this. I was under the same influence that CLARISSA is what we had to write about 🙁 It did not say anything else just roles of audit commitee and second part was relationship with internal audit

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@joharper87 said:
I agree with what everyone is saying with regards to the examiner not testing a bulk of the key areas that I had focused on most!

I found Q1 difficult, especially the public interest bit. What did everyone put for ways in which stakeholders increase their influence???

Wow I have lost 22 marks already 🙁 I just could not come back to do part D. Poor timing. I spent ages on question 1 and I knew if i carried on doing q1 I would miss out on the two 25 markers so left it. I think I did well on question 2 and 3 was not too difficult to think but overall I do not know as my paper will be out of 78-80 :(.

Plus someone close to me passed away yesterday and I sat exam quite stressful 🙁 🙁 It affected me big time. I tried to focus do you think ACCA could be bit soft on me for this reason? I could provide evidence.

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I also could not finish the paper time was a major factor, I did not manage to write the statement at all. How many marks was this?? including 4 professional marks I lost. 🙁

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For Audit Commitee roles did people use this?

Role and function of an audit committee
? create a climate of discipline and control leading to a reduction of opportunities for fraud
? lend an air of credibility and objectivity in the fnancial statements thereby increasing public
confdence
? assist CFO by providing a forum
? review fnancial statements to improve the quality of reporting
? independent judgement
? strengthen position of the internal auditor
? strengthen position of the external auditor
? assist in the resolution of disputes between external auditor and executive board

This is what the tutor taught but Im not sure I did this correctly?

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@diyaaa said:
EPS report income to shareholders? Correct or not?
Increase in EPS also increase in Capital Employed?

Anybody knows ans of this MCq

I just neither. EPS is not to do with capital employed. Its ROE then ROCE.

EPS report income to shareholders also not true in my opinion.

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@dawar555 said:
U did it exactly as I did….. we will get marks for the effort ?

I would think so. As we knew we had to tax by 28% too. I would be suprised if i do not get mark for that.

Anyone remember the format of section B. ?

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@zvix said:
my TADs were exactly as yours 280. but i did the timing from 1-3 years coz the investment was made in year 1 so had to be accounted for in that year and the TAD for the 4th year i did it like 28%of 500. it was 140 for the 4th year. i dont know if i did it correctly. but for the 280 we definitely on the same page.

I think your n my answer is correct if scrap is not included. However…. tax was 1 year in arrears hence year 2 to 5.

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How did people do there TAD for NPV?

I did 4000/4 = 1000

Multiply by tax and year 2-5 got 280.

Did people deduct the 500 scrap to do 4000-500 then 28%?

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@acca145 said:
In mcq it was mentioned that Roce was using initial inv. maybe I am wrong !

Yh i chose neither. Surely if they targetted 15% and its 26 is that not exceeding?

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@zvix said:
Roce was based on initial investment not average investment. so there was no need to divided the 9000/2.. therefore roce would come up as 13.33. below target. so reject.

this is what i thought…..So i chose Neither as my option. Hopefully its correct.

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