ACCA ETHICS AND PROFESSIONAL SKILLS MODULE unit 7/unit 8

saldhaheri Please REFLECT on the ethical implications of your action - and how it might implicate me as the moderator and OpenTuition as the vehicle for disseminating this information. Unit 8 is the FINAL ASSESSMENT which ACCA does not even share with tutors.

Dear Sir, I have been stuck on how to answer the Telford engineering impact on net profit after implementation of the six strategies.Kindly guide me.

As I said, this assessment is not shared with tutors - you have to read the instructions carefully - for example, using the given profit or loss statement as the basis for analysis and assuming all costs are fixed except materials. Then you should consider the impact of each strategy independently.

Hi Kim, For the answers on strategic options are they looking for the total net profit after changes occurred one year after MEXIT or is it just the change of the expense/sales vales themselves? Getting stuck on these questions also

As a tutor I do not have access to the module itself but I believe each Q may ask for something slightly different. For example: Calculate the forecast net profit .... to the nearest $??? .. would be asking for the $ profit - take care with any "nearest" instruction . Calculate the .... cost .... is looking for $ cost Calculate ... as a percentage of sales .... (to the nearest whole percentage) etc

Please note that the ask the tutor forums are a free service - not a 24/7 answering service. If you have read the posts on this thread you should know that I do not have the answers to give you and I and ACCA would ask you to REFLECT on the ethical and professional issues raised by your request. It may be that to get the correct answer you need to read the instruction carefully and enter it in a specified format.

Please REFLECT on the ethics and professional you exhibit by this request. If you take the time to read my advice on this post - in particular to work through the illustration in the module (details on my previous posts) - you can complete the module. See also my prompts on this post https://opentuition.com/topic/ethics-and-professional-skills-module-unit-7/ - other students have managed to complete the module themselves.

is there any chance where you can practice this sort of questions like Telford engineering? Any help would be much appreciated. Thanks

Not exactly - I think that's rather the point that as in real life you have to bring assumed knowledge and skills together to tackle a case as it is presented to you. In terms of making projections of the effects of something on profit, I would say that PM/(F5) or even MA/(F2) are most relevant - e.g. you need to understand cost behaviour (fixed v variable), contribution, budgeting, difference between mark-up and margin, etc. If you need help remembering any of these concepts you will find that you can easily search for key words in OpenTuition's MA/PM notes.

dhaval86 - as I have suggested to those who have made similar posts it is unprofessional/unethical to make such a request - certainly it is unbecoming of anyone who aspires to the credential ACCA. Read the posts for hints and tips by all means but the final assessment must be properly attempted - otherwise you will not benefit from it - which defeats its object.

I hope I control my wording enough that i didn't act unprofessional/unethical to answer on this Telford engineering question that takes me days to stare at excel to calculate all possiblilities of what I could have misunderstand from the question. The problem lies with how the question is formed and how we decode it. Example, my first impression is copy all the information of current(post-MEXIT) value, make changes according to the strategies and "sum up all the figures". This is exactly where it went wrong. I still figuring out the 1st strategy but I can say that trying out strategy 3 & 4 first will less likely to cause u to distrust on your capability. The key is, to read it carefully - e.g. "treat each strategic option as totally independent" .... "use the following profit or loss statement as the basis for your analysis" - i.e. build on this to analyse each option - don't work out each scenario from scratch. Also, "Assume that costs are fixed apart from ...." means those costs don't change unless you're told otherwise. Hope this tips helps you break the invisible wall due to difference in decoding question. All the best.

I wanted to share my comments on this. I spent the best part of a day trying to figure out the 'predicted sales' value, using regression analysis. I realised where I was going wrong - I made the mistake of not reading the 'barbecue sales' example in section 5 thoroughly enough. I went back to this example, several times and really worked through the information provided. Once I had done this, the penny dropped! You can apply the same technique as the barbecue example to the actual question. Y = aX1 + bX2 + cX3 and so on. You've already got the variables so just plug those in. I came on here to find some guidance as I was really stuck, and Kim Smith's messages helped me a lot - thank you very much! People simply wanting to be told the answers make me laugh. If I was an employer, I'd definitely not be hiring those not willing to put in the work... Best of luck!

hi, i need help on acca unit 8 telford. can u please help me?

I cannot help with so vague a request - I suggest you read through my responses on the posts which refer to unit 8 on this forum.

Hello, do we need to calculate volumes of production to answer unit 7 questions? thanks for the advice. Lina

There is no production in the end-of-unit assessment for unit 7 - it is a service provider not a manufacturer.

Please guide me what's the requirement in Module 8. Do they require us to calculate Net profit or only changes in the sales and material cost? Thanks in advance.

Please see my posts on February 24 and March 1 nearer the beginning of this thread. All I can say, not having seen the final assessment myself is that you must read carefully for all clues how to calculate correctly what is required and answer in the specified format.

aqis - please see the forum rules - you are asked not to use the forums for personal messaging. If you read the posts on this forum which reference unit 7 you should find suitable responses to help you with the popular questions.

Thing I missed was they are asking for the EFFECT on Net profit. Read carefully! Took less than 10 minutes to complete it all after I re-read the red page of instructions.

The comment by shuyet on the first page of this thread (this is the 2nd page) on 2 April 2020 is probably most informative - each strategy to be considered independently and ready carefully the requirements.

fatssk93 Please read my post immediately preceding yours.

@R89dup said: Thing I missed was they are asking for the EFFECT on Net profit. Read carefully! Took less than 10 minutes to complete it all after I re-read the red page of instructions.

You saved me!!!!The magic word is EFFECT!! I was trying for hours and I thought that I'm stupid! Thank you so much!!

Please help me out

Please take the time to read my posts on this and other recent threads on this forum. I think I have provided sufficient guidance now for these modules to be completed. If not, please ask a specific question.

Hello there, please help me with unit 8. i am desperately in need.I have been working on it for months but cant seem to get it

@minat - if you read through my prompts and those of students who have finished the module from the beginning of this thread you will see it is not so difficult. As @R89dup said "Read carefully! Took less than 10 minutes to complete it all after I re-read the red page of instructions."

Hi, I hope this post will answer some of your concerns about unit 8. I have been struggling with it for a while myself until I came across someone explaining one of the questions and how they got tot he answer. I should start by saying I will not provide the answer but just the method. Once I used this for questions 5 I was able to apply the same logic to question 4 and 6 to achieve the 50% pass (I was unable to redo questions the first three questions as when I checked my answers I achieved 50% and had to continue). Question 5: The calculations will be based on the AFTER MEXIT column. Adjust the sales after MEXIT by the specified % and material cost is should be calculated based on the new sales figure. All other costs remain same. After you got the new profit figure, calculate the difference of old net profit (after MEXIT) and new net profit. I hope this clears thing up for some people :)

I spent hours racking my brain over questions that only took 3 minutes each. EFFECT on Profit...I will never let this catch me out again.

Hi, I would like to ask about Unit 7 Q2. I believe it is an optimization problem (prescriptive analysis) but I am stuck on what to do. I kept thinking if I should optimize sales, then use profit equation, insert the value of 250k as cost and be deducted away from optimized sales will then I be able to get the maximum profit. Please do advise.