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FM*** ACCA F9 September 2016 Exam was.. Instant Poll and comments ***
What did you answer for those MCQs on working capital having an effect on other areas of financial management and that MCQ on basis risk..
Is it management relationship with bank.Not sure..
10y ago#3In Q #32, NPV Q, for working capital, did you guys just add the 'extra' needed?
10y ago#4Deborah,
Yes! I really didn't like the MCQs. Quite confusing.
The two 20 markers weren't bad.
How did you find the MCQ scenario Qs?
@greghodgson400 said: What did you answer for those MCQs on working capital having an effect on other areas of financial management and that MCQ on basis risk..I answered "management relationship with a bank" because that's not an aspect of financial management.
With the bank is making sense with the cash which is part of working capital. Dividend was not part of working capital. So quite sure that answer of dividend was good ...
For the MCQ's i remember answering;
1: D
2: C
3: B
4: C
5: D
6: A
16: C
17: A
18: B
19: B
20: A
21: A
22: B
23: A
The MCQs were OK, except questions on the nominal interest rates and inflation rates.
Who said only options 1 and 2 were correct, for the four way equivalence question? Real interest rates should be the same - but im not positive!
The last second question on depreciation of euros caught me off guard too- higher inflation should lead to depreciation of domestic currency so option 1 may be out (since dollar has inflation rate), but I really wasn't sure about option 2. :( oh how much I hate the MCQs, one wrong move will cost you two marks :(
Hope the exam went well for everyone!!
@mpi9 said: With the bank is making sense with the cash which is part of working capital. Dividend was not part of working capital. So quite sure that answer of dividend was good ...Wouldn't they need working capital to pay the dividend? Thought it was an okay paper. Anyone get a balancing charge of 250? NPV and receivable were good. 20k+ saving on EOQ. 6250 taking the discount. Mentioned how they could factor, offer discounts and employ better credit managers etc. Inflated sales variable and fixed costs. Inflated working capital with the movement each and head and then put it back. Big positive NPV. Currencies the rate strengthened on 15-20
For the written NPV question what year did every start the inflation from? T1?
And also what year did everyone start the tax payable and tax depreciation from? T2?
@accastudent1986 said: For the written NPV question what year did every start the inflation from? T1? And also what year did everyone start the tax payable and tax depreciation from? T2?From T1 and tax was payable same year too. TAD too year 1
I got about 10k for the NPV. The MCQs were super tricky
For the improvement of receivables management i stated that the credit control function should follow process (e.g. telephone then letter, then stop orders then legal action...etc) as well as make use of a invoice discounter or factor or offer settlement discounts to get payment sooner
@complicated said: The MCQs were OK, except questions on the nominal interest rates and inflation rates. Who said only options 1 and 2 were correct, for the four way equivalence question? Real interest rates should be the same - but im not positive! The last second question on depreciation of euros caught me off guard too- higher inflation should lead to depreciation of domestic currency so option 1 may be out (since dollar has inflation rate), but I really wasn't sure about option 2. :( oh how much I hate the MCQs, one wrong move will cost you two marks :( Hope the exam went well for everyone!!I put option 3 for that one, al 3 were correct I think
I also had a big positive!
@james1114563 said: From T1 and tax was payable same year too. TAD too year 1I remember the question stating that the tax liability is settled in the same year actually, i think at the time i panicked and interpreted that to mean that the tax is actually paid in the year it's due :(
10y ago#17The tax on cash flows was the same year as the cash flows.
@accastudent1986 said: I remember the question stating that the tax liability is settled in the same year actually, i think at the time i panicked and interpreted that to mean that the tax is actually paid in the year it's due :(Well I think so anyway, way I read it. I could be wrong
@james1114563 said: Wouldn't they need working capital to pay the dividend? Thought it was an okay paper. Anyone get a balancing charge of 250? NPV and receivable were good. 20k+ saving on EOQ. 6250 taking the discount. Mentioned how they could factor, offer discounts and employ better credit managers etc. Inflated sales variable and fixed costs. Inflated working capital with the movement each and head and then put it back. Big positive NPV. Currencies the rate strengthened on 15-20Which question was that on the balancing charge? Shouldn't the forward rate be 15.66 something? Dollar was the domestic currency. (If I'm on the same question)
Question was on smallest impact- which would would be divided policy.
Balancing figure 181 (150 scrap needed to adjust at the end of project)
@complicated said: Which question was that on the balancing charge? Shouldn't the forward rate be 15.66 something? Dollar was the domestic currency. (If I'm on the same question)Yeah it was like half as the rates for a year, 1.56 something I think yeah for the six month forward rate
@karanpreetrobin said: Question was on smallest impact- which would would be divided policy. Balancing figure 181 (150 scrap needed to adjust at the end of project)Which question was the balancing charge on?
The overall paper was ok but very time consuming. some of the MCQs were really confusing. However writing questions were nice.
ACCA result is highly unpredictable. student think i am pass but when result come 'Failed' and vice versa. same happened to me last time in F9 paper. does it happened to anyone else?
Good luck to every body
@ch305 said: How did you calculate the savings from EOQ?I did the formula so 2x480kx248.44/1.06 Came to a re order every 15k units or so. They were holding too much stock a time
10y ago#25How did you guys answer the CAPM Q in Q #32 (part B)?
@james1114563 said: Yeah it was like half as the rates for a year, 1.56 something I think yeah for the six month forward ratePhew that's a relief :)
Yes ... but the question was not ask which one would not be part of working capital management. I thought the only one little apart has been dividend as anything else were part of working capital. We will see may soon the questions again
@suf23 said: How did you guys answer the CAPM Q in Q #32 (part B)?I wrote about the use of the average asset beta formula to calculate a project specific discount rate using CAPM. Risk can therefore be incorporated resulting in better investment decision. And gave 2 brief disadvantages of asset beta formula and one disadvantage of CAPM. What about you?
@suf23 said: How did you guys answer the CAPM Q in Q #32 (part B)?</blockquot Just put how betas are good and described them and how they increased risk etc
CAPM was super easy!
Just explained how it can be used and wacc becomes irrelevant when existing capital structure changes or investment in different markets.
For hebac co. CAPM equity would have been much better than wacc.
Also, just explained how to use capm and asset beta etc
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