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It was tough. Only performance ratios were asked in the last question so I only commented on them and liquidity but nothing on gearing. Was this wrong? 🙁
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Was tough paper indeed..
I did the same. Exam was fine except question 31! Omg what a disaster.
Was the diluted eps .30? My only hope of getting a mark out of that question
Hey, Hope everyone did well….not easy for me.
Anyone know the right balancing figure in Q2…I was unable to match it.
I thought the paper was okay. Really felt they were generous. 32 Ratios is a disaster for me so will be lucky to pick up 6-8 marks from that. 31 was good, think I picked up 15 odd marks there. MCQs quite nice apart from the 5 questions on the IT company, had no idea! Think it’s close but just hope I’ve done enough to get 50. Really think I have! My worry is that the next F7 will be more difficult than that. And if I failed it will be harder next time. Good luck all!
My disaster question was 32 as well. I am sure I calculated the ratios right though so at least I got some marks there. The rest, however, was utter nonsense.
31 was ok, although I know there were some things I missed and my profit for the year didn’t quite tie out to the adjustments I’d made to the P&L. But I’m guessing I got at least 10 marks out of it.
I thought the MCQ were fairly straightforward, but that makes me worry that I’ve done them incorrectly. I always seem to get caught out on them.
Now we wait.
Please give me the answer for Q3.
U got 138,500 (Total Assets) and 145,545 (Total equity and liability)
The paper was really tough. I just hope I will make 50% after marking. Q32 was a surprise so could not do much was just able to calculate the ratios and nothing more. Q32 was better,was able to complete it in full and my SOFP balanced with 138700 but my worry is that I ignored creating provision for the stolen debt which in the question was supposed to be 50% of stolen debt. Did I get it right?
What were your ratios in Question 31? I remember my ROCE was 10.??% and 11.?? my main worry is Net Asset Turnover, I think i calculated wrongly because one answer was in the range of 26% and other was around 45%. any comments on this?
but net asset turnover got improved drastically after Tamsin takeover, is that right?
let us match MCQ answers:
1) There was one question regarding Interpretation committee? what is not their duty? I chose one answer which had “Interpretation drafts”
2) One MCQ on first page, I think 3rd question was about depreciation. I chose the one which would debit 5,000 to retained earnings.
3) there was one question related to PUP, I chose the last one.
thinking about other MCQs also now 🙂
Exam was fair. I struggled on both Q31 and Q32 but mainly because my technique on SoFP and Ratios was lacking. Delighted there was no SOCIE or statement of cash flows qs of any substance. Just hoping I did enough because I think I got 14 marks tops out of the 40 but the section B q’s I found relatively straightforward. Time will tell…
Cant recall the exact number but I would have thought provision of 50% of the fraud figure was required to be removed from the receivables. If you didnt do this you probably still balanced if you also excluded the provision cost from the P&L?
Not sure if I was right but I charged 50% of this years fraud to P&L and removed 50% of last years fraud from retained earnings as a charge to previous years earnings!!
I did the same
@willahern said:
Cant recall the exact number but I would have thought provision of 50% of the fraud figure was required to be removed from the receivables. If you didnt do this you probably still balanced if you also excluded the provision cost from the P&L?Not sure if I was right but I charged 50% of this years fraud to P&L and removed 50% of last years fraud from retained earnings as a charge to previous years earnings!!
I was told that ACCA grants marks where earned so you can score well if you go over and beyond. Is this true? For instance, let’s say question 2 i went over and beyond. Is the examiner going to stop giving marks when i reach 20?
The paper was challenging mainly because I had setbacks with studies. Had I been fully prepared, it would have been a fair paper to be honest.
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