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@gilmoregirl said:
Spent almost 2 hours on the first question but feel it might be worth it. Managed question 3 and 4 in the remaining time – just! I felt a lot of the syllabus I spent time memorizing was unfortunately a waste of time 🙁 anyone else?That’s what I was told – essentially with 4 sittings a year we will start to see more random things and perhaps more of a focus on specific parts of the syallabus!
That’s good to know, thank you. I suppose I can’t complain though as nothing really threw me off!
Just a quick question. In the question about LIBOR about Internal Control compliance did it mean compliance in terms of CG codes or in terms of people bypassing and ignoring internal controls?
Had the feeling I was repeating myself half of the time. Strange exam.
Suggestions against corruption weak. I missed the point wit diversity, forgot about the ethnics. It’s frustrating. My 3rd sitting of p1.
But I still have hope as I answered all points. Chose 3 and 4 as I did not want to repeat myself on internal controls… 🙂
Let’s see. Good luck to everyone!@hoangduchung1903 said:
I also find the questions were set narrowly but too deeply, especially the part on how internal control helps environment reporting and the importance of completeness in remuneration report. These have never been asked before in past papers.And I was hoping that AAA would come out so that I could grab easy 14 marks but sadly it did not.
I was hoping for any sort of question on Kohlberg, deontology and teleology, absolutism and relativism or CPD for easy marks. The only mnemonic or model I think I used in the end was OAPSPAMS for part C of question 2.
@lolo822 said:
So guys what do you do then study the next paper for December or wait for results before studying a new paper?I was halfway through studying P3 for September when I found out I failed the June exam for P1. I’ll probably go back and finish it. I might sit P3 in December and come back to P1 next year so I can approach it with a fresh mind.
Can anybody remember how many marks the prevention methods of corruption were worth on question 1? It was such a haze and I can’t remember if it was the whole 8 or not? I was struggling to think of suitable ones! Thanks 🙂
Yes i agree. I done all past exams.Done 2 mocks but still felt that paper was tough even though i passed p3 first time which is mostly based on application and more tough than p1 but not so confidence with this. I hope i pass and good luck to everyone for your resuts.
English is my native language and I still struggle! My biggest concern is time management, q1 took me 2 hours but I don’t think I waffled, just so much to comment on in each section.
The topic were ok but the questions were much confusing. still much struggling with professional writing in English and time management.
Question 1 case study a bit harder to understand. When i read it the third time i understand well. I found myself repeating my answers a lot in internal control chapter which was something I found through out the exam.
I know if my time management was poor. Due to time constraints I barely looked at question 4, I just saw the first question was about insider trading and looked at the marks and doubted I’d be able to write that much on it.
I didnt do well! But covered so many chapters during revision. I need more practice in next sitting. Missed a good chance to pass the exam as the paper was capable…
To be honest i believe it was an easy going paper. especially the first question for the separation or role between chairman and chief officer it was included in a recent paper, i did 2 and 3 question and i didnt give so much attention to the last 2 lack of time, it was a hard selfstudy during summer , i hope that i passed give me your positive thoughts as you can feel me.
My aim is to finish until next summer. 4 more lessons, can i manage it or it is too difficult ?
thank y@achristodoulou said:
To be honest i believe it was an easy going paper. especially the first question for the separation or role between chairman and chief officer it was included in a recent paper, i did 2 and 3 question and i didnt give so much attention to the last 2 lack of time, it was a hard selfstudy during summer , i hope that i passed give me your positive thoughts as you can feel me.
My aim is to finish until next summer. 4 more lessons, can i manage it or it is too difficult ?
thank yI don’t think I passed this one spent 2hrs on q1 and answered 2 and 3 but didn’t have enough time to finish question 3,also I left 8 marks on qsn 1 as I was rushing to start on the others.So distraught but will resit again in Dec am starting my P2 now,which paper are you doing next?
My fourth sitting for this paper and the last sitting i got 44 . My downfall in previous sittings was Q1 but this time i think i have nailed the paper. I will not predict the marks but all my past predictions have been correct even the last one i failed i knew that if i were to pass it was going to be a marginal pass or fail. This paper i have nailed it and that is my prediction.
I spoke on Xuland the country , the question on corruption was very easy . How to prevent corruption i think many answers can do but i wrote the following
1) People should be rewarded if they turn in those who are on the wrong side eg accepting or offering bribes
2)Teaching and engaging the community on the dangers of corruption
3)Employing many ethnics to prevent collusion
4)Police can be rotated or reassigned their jobs , i expanded a little on this one.The barriers are as follows
1)Police accepting bribes
2)Only one ethinic employed
3)Too close to the prime minister
4)Countries seen to speak against corruption in Xuland are denied oil.I should have added media being controlled by the govt but time not on my side
Still on Q1
Why splitting roles between CEO and chairman
Chairman to concentrate on shareholders interests
Avoiding conflict of interest
To avoid too much power in one individual
and also why appointing Non executive chairman
to monitor and scrutinize the board because of his perceived independenceOn remuneration why disclose discuss
For transparency purposes as this will underpin investor confidence but you might not disclose it so that your competitors might not know what your board members are being paidImportance of internal controls
Managing quality
feedback mechanism
risks that would not be known will be known
compliance purposesThere was also a bit on agency
Inaccuracy reporting will lead to a conflict of interest as the agents have to align their goals to those of the principalWhy linking remuneration to performance
i did include the contents of a remuneration package and explained on that .Also there was a question on what is corruption , i defined followed by example of bribery.
This is what i still remember about Q1, other parts i have forgotten but the other thing again i discovered was you could answer 1 part and leave out another part as 2 or 3 questions were asked in 1 question. It is very easy to say you have passed yet you have actually left other parts unanswered .very strange paper, i was repeating myself several times and i was wondering whether i was really talking sense
overall not a very good paper for mequestion 3 was on risk management in relation to fiduciary duties of directors towards the shareholders.,,,,,,
risk awareness… risk auditing …… fingures crossed ….- Topics: 0
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This was my first attempt at P1.
Question one focused on a lot of the areas I was comfortable with and I flowed well with my answer (just my opinion, you never know how it goes with an ACCA exam), but section B I found myself struggling to answer.
I attempted question three and four and I believe that I may have to re sit the paper in December, while it’s fresh in my brain.
Q1. The Xi scenario typical Zimbabwe scenario…. I felt like I was reading the South African Sunday Times 😉
@mupahjohn said:
Q1. The Xi scenario typical Zimbabwe scenario…. I felt like I was reading the South African Sunday Times 😉You are right it really sounded Zimbabwran style?
How did you find the exam tho?I am shocked at the previous comments about some of you spending up to 2 hours on Q1. How hard is it to stop writing after 90 mins….and go get yourselves some easier marks.
I made absolutely sure I stuck to time management (as hard as it was to stop writing). I managed to have 10 mins or so at the end to add some waffle to each of the questions I attempted.Not sure if I done enough to pass. The exam was not very clear on what it was asking for. So a lot of general points went in. 🙂
@ddmoo said:
Hated it. Having done all of the past papers several times this seemed to be the most narrow exam yet which covered so little of the syllabus but it covered it in great detail. Question 1 was okay but I found myself repeating my answers a lot which was something I found through out the exam.I don’t know if my time management was poor or it was a longer exam than usual but I had to really rush at the end just to answer all of the questions. Due to time constraints I barely looked at question 4, I just saw the first question was about insider trading and looked at the marks and doubted I’d be able to write that much on it.
Having got 44 in June (which looking back on was a much easier paper than this one) I’m predicting between 30 and 40 this time and another resit in December.
Totally agree – I found the P1 Paper very repetitive and it only examined a very small part of the syllabus. I also ran out of time which is odd when I have not had this problem with Past Exam Papers or when I sat it first in June.
I got 47% last time out but feel this result will be worse :O(
I was liking theoretical subjects like P1 but now i like mathematics based papers do not know what happened to me. is it that i am becoming accountant hahahahha
P1 paper was OK but especially Q2 internal control was little hard even to understand the scenario properly. any how i managed it but do not know whether it will be ok or not…
Q1 and Q4 were nice questions but still unsure about its correctness because in last exam i predicted that i will pass P1 but unfortunately failed its totally non understandable how they are checking the paper? student think i done well but when result comes it fails and vice versa because This happened to me, anybody else have the same story?
Good luck to everyone.
No dont listen to that .You are not screwed .It depends on how you put it.Remember Xuland oil was the biggest business in the country with international listing and foreign market.Bear into mind that they were selling a rare resource like oil internationally.Putting pressure on the company from the international perspective especially internatiinal investors and domestic share holders will worry the prime minister to act.
Pressure groups abroad and investors international risk management analysis should consider human rights abuses in Xuland before they decide to invest in their interest in Xuland.Looking for other alrernatives from oil producing countries will surely affect oil revenue and employment in the country .Given that its the biggest business in the country.
Therefore i think some points relating to Xuland oil are relevant .
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