[willynwilson]

I got 89%!

I can’t actually believe my mark, I wonder if that is prize winner standard?

Delighted to be an affiliate, just waiting for my invitation from the ACCA to become a member.

[willynwilson]

<cite> @ugras05 said:</cite>
@shehmir- I have done the same mate, I calculated the marks I should hopefully get, I was harsh as well awarding less marks in some questions but maybe the marker will give me less or more.

I done Q5 rather than 4 though.

Also for Q3 there was little 2 marks at the end asking what else can you bring to UK rather than cash that can cause remittance, What did you put for this ?

Other forms of remittance include repaying an overseas debt where the proceeds from the debt were brought into the UK and personal items which were bought overseas using foreign income and brought into the UK (there are however exceptions to the rule being clothes and items brought into the UK for repair)

[willynwilson]

<cite> @ugras05 said:</cite>
Guys I worded it wrong I did extend the basic rate bands by the gross amount of 120000 , what I mean is that she is only allowed to contribute 50000 per year so the remaining will be added as a charge.

Yeah thats fine, but you were still supposed to deduct any remaining allowance for The previous 3 years.

They wouldn’t have included her pension contributions from the last 3 years if you weren’t supposed to take them into account.

[willynwilson]

<cite> @kfaardeen said:</cite>
l write that any gain that the seller will he will be tax on the date of departure bcuz he has not been absent for 5 complete tax years and the motor car is exempted and the tax paid on the rest will be on 31 jan and there is one where 2 assets have been sold in the same year one has fully used the annual exempt and the other will be taxed on gain

The first gain would have been chargeable in the same tax year (10/11 I think) because capital gains rules does not allow split tax years unlike income. Therefore he would have been resident for the whole of the 10/11 tax year but the gain would not be chargeable due to the use of the 10/11 annual exemption. The car was exempt from CGT, the bed was not chargeable due to it being purchased and sold whilst being in the uk and the final one (not sure what asset it was) would be paid when he returns to the UK

[willynwilson]

<cite> @kfaardeen said:</cite>
hmm thern are annual allowance of 50000 the basic rate band should have been extended

You forgot to deduct any remaining annual allowances available from the previous 3 years. Therefore it would increase the amount that could be invested in the current year.

Also the pension contribution band should be extended by the amount of the gross contributions and not just 50,000

So she had 120,000 of 20% relief and 40% relief.

I wasn’t too sure about the employers contributions of 4,000 but I included those in calculating the remaining annual allowance to carry forward to be deducted from the 120,000

[willynwilson]

P2 – 74%
P7 – 53%

So pleased, only got one left! Bring on P6!!

[willynwilson]

This is completely irrelevant to the answers to the questions, but did anyone else notice that the company’s in the Q’s were rockstars surnames?!

I think Hendrix was one,Dylan another can’t remember the others.

[willynwilson]

P3 – 69% and P1 – 67%

Thank god they are over! 3 left, bring on December!

[willynwilson]

How did people answer question 2? Just highlight the problems? Was there any frameworks to use?

Question 4 was relatively easy, I spent too much time on the first part of the question which led to me having a rubbish part b.

Never mind. Don’t think I will pass. I used differential strategy, focused differentiation and then acquisitions and alliances for 1b. Don’t think I will get high marks.

[willynwilson]

@jeeyo said:
any one can tell me question1(b) can use PESTEL or not ???thx

I think pestel is the external environment. Not the strategic options. Sorry!

[willynwilson]

Quite surprised at the lack of core frameworks, no pestel, 5 forces swot, no SAF. Completely different to December 2011 paper.

1b) I assume we had to discuss, porters general strategy, alliances, acquisitions etc.

[willynwilson]

@richieinspain said:
c’mon guys your keeping me in suspense ; ) – was Q1 consolidated statement of financial position only…. or did you have to do the income statement as well!!!

SOFP only

cheers

[willynwilson]

It was quite straightforward, the consolidation of subsidiary and associate was easy! Q2, was alright, both my SCI and SOFP tied up. Q3 was time consuming. Q4 the provisions definition for 6 marks was a gift. However the hamlet loan question was a bit tricky. Q5 was a gift!

[willynwilson]

Question 1… Test of controls, were to test the internal control environment, using enquiry, inspection, observation, recalculation and reperformance, couldnt use analytical procedures, as not a test of control,

question 3…. the 5 audit procedures were analytical procedures, inspection, observation, enquiry, recalculation,

question 3 is not to be confused with types of audit evidence e.g original documents, written better than oral e.t.c

External confirmation was a bit misleading… hope that clears a few things up

[willynwilson]

Question 2…

Advantages and disadvantages of ICQs and narrative notes, probably the least revised topic and for 6 marks, ISAs should have been discussed.

[willynwilson]

Question 3a,

the 5 audit procedures? please tell me that they were enquiry, inspection e.t.c

there are mis understandings, and i want to make sure that i have the correct answer!

[willynwilson]

@rach101 said:

i thought it was L that had a a maximum demand, not C,

the constraint would still be put at 3200 l and 2400 c, but the optimum contribution, was under the demand of 2000,

i suppose, we will just have to wait until they publish the papers in a couple of days to see who is right!

[willynwilson]

@pannanikt said:
You are right there was one more constrain – labour if I am right (9600 min?) and on my graph two constrains crossed each other was that one with 5000 and labour with 9600 – I got answers as somebody already posted it here

i think that they were the constraints, but i cant remember,

you also have to remember that in the exam they wouldnt have said please round to 2 decimal places, if the numbers you have calculated dont have more than 2 decimal places, you could probably assume that you were incorrect!

[willynwilson]

I thought the 1c+0.5l wasn’t one of the optimal constraints? I calculated at all points in the graph,

I can’t remember the other 2.

[willynwilson]

P.s did anyone do anything with the fixed costs in the linear programming question?
I deducted them from contribution but wasn’t sure!

[willynwilson]

I thought the exam was severly time pressured! I just about finished, labour rate and labour variance was a bit rubbish!

Linear programming, optimal point was at the two constraints that weren’t 1+0.5 = can’t remember!

I think I got 1275 and 875 for optimum plan, with a shadow price of 1 I think!

It said on the question that unfinished products were going to be made the following week, so I just got rid of the 2 decimal places and calculated the full products!

Q2, the company performed much better than the year before, and as market was going to decline by 20%, their turnover only decreased 8%!

Q4, cost drivers, I had procurement and purchase orders, delivery against deliveries, machine running costs and machine hours, and machine set up against production runs!

Anyone agree?! Please say yes! Lol!

[willynwilson]

correct me if im wrong, but im going to try and answer it for you!

0.360*60000 = 21600kg to produce 60000 (std)
actual = 23478kg to produce 60000

so you get actual figures of 23478 and deduct 21600 which equals 1878 then multiply by std cost of .302 which equals 567 favourable

i think that is right, normal loss is ignored (i think).

i tried to help, if im wrong, then its going to be with the normal loss!

if the normal loss is deducted, then its 23478 – 21600 – 2160 x 0.302 = 85.16 adverse

i hope the first answer is correct as i have just sat and learnt it!

[willynwilson]

i know the course notes will never replace the study text,

if i had a study text handy, and just learnt from the notes and the video lectures would that be enough?

has anyone passed the exam that way?

[willynwilson]

How much of the syllabus does the open tuition notes cover?

[willynwilson]

So you suggest using the Kaplan revision kit and the open tuition study notes to successfully pass this exam?

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