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50 marks was ok, NPV of investment and cash flow forgone for parent company.
25 marks was analysis of financial position and statement of profit and loss-easy but too much time takes to do all calculations, valuation-25 marks-I found it very hard. Cash flow to firm-but I think I never practiced like this before. I am with a feeling that I will sit it one more time 🙁I felt like exam wasn’t difficult, but due to the time management I spent too much time on risk assessments , and too much on questions on section A. In my opinion start with section B and return at end to A. Section A was a bit hard only because the way of language used to formulate the questions. These are not difficult if you know well the theory, but you can make silly mistakes only if do not understand the logic of the questions.
In small questions of section C I had: KAM, engagement letter, difference between internal and external audit. Many substantive procedures: PPE, Revenue, receivables etc.