Forum Replies Created
- Posts
Hi yeah I have passed them all except the final one I’ll do in Sept or Dec, was all first time except F2 which I found surprisingly hard considering it is earliest level. However practicing lots of questions seemed to help me personally rather than just reading it, it was a lot of work though and stressful at times.
You can get lots past papers on the acca website, atleast you can for all the skills and professional papers which is very useful aswell as technical articles. But the main thing I used was BPP revision kits. I used e online kits, this was slightly easier as you can open in up in 2 tabs and have the questions as one tab then the answers that you can flick to in the other tab as opposed to the hard copy book where I imagine you’d have to keep flicking to and from the beginning and end of the book. You can buy them all from BPP site this site gives you a discount too.
I would say if you go through the exam kit twice dong every question than you would pass it.Have you tried using a revision kit? For me I learn best by practicing the questions rather than reading the textbooks. I also failed F2 originally…but then re-took it and passed all the rest first time. I always focussed more on questions and learning from seeing the answers which seemed to help personally.
Passed with 64…tricky exam but do-able if you put the revision work in. Just ATX left…
@shobhit said:
Futures were giving the maximum benefit.I also found futures giving maximum then forward contract then options the weakest.
For the ENPV question, I think it said that there was a 20 percent chance of cashflows or NPV only being 40 percent. I think I did 80 percent x npv + 20 percent x 40 percent x NPV. Though now I’m wondering if I should have multiplied by the cash flows rather than the NPV. Does anyone remember what they did?
@reco said:
I got WACC 8.08% which I rounded down to 8%
Did you get a positive gain for shareholders of bidding company? For me it was a high negative number I don’t know if there was something wrong in the question. The 6% profit margin on revenue seemed suspiciously low.
Sale value for the Tech Part was 5,504 million and Present value of Cash flows to firm was around 18,000 million, then I used the Debt Equity proportions at market value to calculate Value of Equity post acquisition which came out to be less than the whole bid amount already so I got a negative value there and from that were supposed to deduct the pre-acquisition value of the bidding company which would only make the negative number bigger.I found a similar issue when I got to this point, seemed like the predator company was very large pre-acquisition, bigger than the forecasts of the combined. In the end I was running out of time so had to just leave it at that and take a hit on the marks! Still blabbered about the assumptions made etc so hopefully got some marks still.
@leahmo said:
Did anyone else get completely confused in question 1? And why did it repeat nearly 3 times the debt and equity values of Matravers? It was written so many times!
I got very confused by the wording of the report questions for question 1 too, I just couldn’t grasp what they were asking numerous times??? I just really hope to get marks on the other two?I got 9.7% as the WACC for question 1, what did anyone else get??
I also got something like 9.7 which I rounded to 10 percent. Yeah I noticed it was repeated a lot!
@ltodorov said:
Does anybody remember how were the marks allocated in Q3?6 for NPV
2 for Estimated NPV
3 marks for alternative investment
6 marks for 70 percent success rate
8 marks for CIMS / Post audit@tripleavi said:
My paper was paper based in Excel London. Thought it was a fair paper as well. Only part that really threw me off was the 70% success rate of passing the regualtaion in Q 3.Is there anyway to check or when do acca release the answers?
Yeah I couldn’t get my head around this question either so just left it and did the last question on CIMS which seemed easier as was pushed for time. In the last 2 mins I came back to it and wrote something like the offer of 1 million was a real option to abandon but I didn’t really know…
@isida85 said:
I’m crazy… I forgot to convert 18600$ to euro before number contacts calculation in Q2, so i didn’t use additional forward hedge, and took it for option calculation.
How many Mark i’m loosing?From the answer I got it was fairly close to whole number the number of contracts so I just put not necessary to do an additional forward hedge, I could have gone wrong somewhere though, but would only be 1-2 marks.
Thanks for this. The question is from an older BPP revision kit for sept 16 – June 17. It’s q.38 Mercury Training (06/08), and the answer is from the section B part.
Passed with 62 very relieved…I revised hard for this exam very stressed the night before it and inevitabely the exam itself was bumpy. Now just the two option papers…
Passed with 71 really relieved as the second 30 mark question felt like I was floundering at times. I think the trick is from reading the examiners report to keep cross referencing and using all the different sources to fullest effect and keep your answer relevent to the questions and don’t deviate from what the question is asking.
I did SBL and SBR, really hoping for passes because I hate the thought of re-taking either…predicting somewhere in the range of 45-65 for both.
I am still slighty confused about the last 2 questions in question 3. I thought the second last question was something like “should they consolidate”? and the last was “should it be OCI or debt” I took this last question to be a question on whether it was a business or asset, thinking business would mean OCI and asset it meant like a debt interest. So I did my discussion of business or asset and definition of a business etc in this question. However now am thinking this last question was just a standard debt versus equity discussion? And that I should have done the business/asset discussion in the consolidate question. (in the consolidate question I just wrote about control and influencing variable returns etc). So I’m now wondering do you think I could get marks for the business/asset discussion when that answer might have actually only been relevent to the consolidate question before it? (assuming obv there were free marks left to get in the previous question). Or would it be more likely the examiner would be strict on this?
I think q.3ii was something like “does it have control over the investment?” which I took as a IFRS 10 type question about power over the investee to influence returns etc. And then Q.3b was something like “should the other party be seen as having a debt interest rather than NCI” which was an indirect way of asking is it an asset or a business?
Does anyone know for the deferred tax increase on the fv adjustment if we were meant to use the current tax? I have a bad feeling I used the deferred tax rate. But then I can’t remember, was the deferred tax rate 30 percent and current was 20 percent?
Am also wondering which the principal and which was the agent…
@js12 said:
Q1 I got positive goodwill but i didn’t FV the inventories, so i reckon that’s why i got positive. But if you left it out and carried it forward, so that mean you would get a penalty just for those mark(s) but no more penalties if you carry it forward?Also, it appeared a joint venture just from the seperate entity however, on the next question it mentioned something about the £10m share issue for the 51% being included as debt rather than NCI? I wonder if it’s something to do with the other entity having a contract to makes them having to get a % of the gross receipts might be why it’s being designated as debt as they get contractual cash flows.
And very time pressurised, didn’t manage to finish the exam ;(
I also got positive goodwill after not fair valuing the inventories. I think the own figure rule will mean we will still get marks for the goodwill calculation. I also didn’t finish, I ran out of time before 4C, I wonder how many ppl actually did 4c? lol.
I know this almost certainly wrong but q.1 for the current asset inventory that had a fair value higher then cost I put that inventory is held at lower of cost and NRV so should be kept at cost but I’m guessing coz it was a business combination it should have gone to fair value coz that was in a way the cost of the parent? Hopefully the own figure rule will save me…
In the ethics question I started mentioning insider dealing but thinking about it I’m not sure it even qualified as that and I prob should have just looked at it in terms of acca code of ethics
I thought it was actually a contract liability rather than asset? Just coz they’d received the money but hadn’t completed their part of the performance obligation of allowing the other company to market their product for a year for payments? I could be wrong though, it’s quite confusing.
@kachun19 said:
In Q3, I compared and contrasted each PESTEL elements in Westland and Amutland one by one.However, after the exam, I just found that the most suitable model for Q3 was Porter’s Diamond, but I didn’t use Porter’s Diamond on Q3 in the exam.
Why I was not smart enough at the exam hall?
I also just compared them one by one. I don’t think it’s necc a problem to not do it within a model so long as you make relevant points including similar points to one’s you would have made under the model. Like mentioning more buyer power regarding the fact that one of the countries supplied more steal etc.
@jjacca said:
Free hovers for everyone and 50% in the examWow thanks! Not one of those horrible corded ones though?
