*** ACCA P3 September 2017 Exam was.. Instant Poll and comments ***

@taftan said:
how did you find the exam guys; for me time management was a nightmare!

time management was the undoing of me in the exam I feel. It’s a shame as nothing was too difficult, concept wise…but way too much detail in Q1. I couldn’t answer part C of Q1. and I missed out on part (b) of Q4 – so dropped nearly 30 marks. Hopefully I got enough out of the rest of the paper! best of luck for you

@bjshoko said:
I think the ACCA wants the new paper Strategic Business Leader to catch up with us. At this rate we will forfeit our P1s. The paper was tough. Time management hectic. Q1 disaster.

you are not wrong. On my 2nd sitting of P3 amd this one was even harder to pass…despite the very straightforward content. Impossible to pass everything in the time alloted

@eagledave said:
Exactly, I was writing so fast and my hands were literally trembling, and half of my mind says, go on you can do it, and the other half saying, you wasted all this time and missed these marks, tsk tsk.. If ACCA wasn’t that important to me, I would have just said, oh well, better luck next time, but I realllllyyy prepared for it and was following all techniques and memorised the models..then today happened 🙂 Well, I really hope for a kinder and more flexible marker!

eagle dave your experiences sound exactly like the way my exam went. Uncannily! Just out of interest how many marks do you think you dropped? I was unable to answer part c of Q1 and part b of Q4. I think I must have spent about 25-30 mins just reading and planning Q1. Over shot the runway massively and only had 1 hour and 15 mins left for Q2 and Q4. So disappointing.

Nah I’m fairly sure you’re right. Contribution is revenue less variable costs hence why when you calculate break even it’s FC÷ Contribution.

You need to deduct fixed costs don’t worry.

Having passed all the Fundamental exams with flying colours, I am feeling completely disheartened with the professional exams. The exams are really unfair, all they’re testing us is on our speed, not on our professional skills. Giving us at an extra half hour would make all the difference for us to apply the skills we have. P3 question 1 scenario was too long, & for me it wasn’t clear as to whether the examiner wanted us to contest the consultants suggestion or otherwise comment about it; I ended up doing a bit of both. I studied really hard & worked a lot of past papers, but honestly left exam feeling really disappointed & angry.. this is just business not testing prospective accountants skills !!

Gutted! Gutted! Gutted! It was a fair paper but the time pressure was HORRENDOUS. It’s a retake for me, I’m afraid. The question 1 scenario was so-o-o long. Felt so disheartened. When I got home I started looking at the ACCA website to see if the new Strategic Business Leader will be any easier. To be honest, I feel like calling it a day; after all I’ve got ACCA’s Advanced Diploma in Accounting and Business … Rant over 🙂 Maybe I’ll feel better in the morning …

I did Q3 and Q4. Took one look at all the questions and these definitely seemed like the ones I would get the most minutes per Mark on.

Started with Q3, drew up the decision free and only option 3 was profitable after deducting fixed costs which is necesaary as contribution only takes into account variable profits.

Obvious problems to mention were:
>Option 3 had the most estimation due to increased contribution
> they had taken the economic forecast from an financial advisors website- why not government which is much more reliable than a bias advisor
> doesn’t take account of time value of money- project 3 had big initial costs and it’s a 5 year project
> decision trees represent a lot run average and bit suitable for one off projects + the outcome isn’t a result that could actually happen

On to part b) which was about finance and the risks of each
> reatined earnings -unlikely to have as been making losses
> may be able to obtain from the group as it’s a global hotel chain
> low risk and cost as the money is there
> mention for option 2 wouldn’t be a huge cost so more likely to have enough reserves + outflow would be over time

Equity- may struggle with share issues due to poor results
Dividends required to be paid to satisfy shareholders but this is more flexible than debt finance

Debt finance- easiest to obtain
> likely to have lots if assets to secure against making it cheaper as less risk to lender
>requires fixed cash repayments increasing risk and gearing as these need to be met

Anyone else put anything similar?

This exam was an absolute disaster for me.
I am already so depressed, not sure I’ll make it.
How are we suppose to read through such a long q1? Makes no sense to me.
I literally skimmed through the case just to beat time!
With only two papers to go, P3 is arguably my most detested paper. Subject content is pretty vague and I find it extremely boring!

I just hope I don’t get to go through to rewrite this nightmare of a paper!

Absolutely demotivated!?

Anyone opt Strategic Alliance for Q4 c?
Sharing of knowledge, knowhow in overseas market to overcome the lack of experience in overseas. As they hold patents of recipe, it is likely overseas alliance will work with Tramor, especially UTF as the main target market as of now.
Cost and benefit are shared.
Risk can be reduced and transfered or shared.

Anyone reckons this? Thnks

Same here!
That was my suggested option – strategic alliance

I went for acquisition for the following reasons;
>they had experience of acquisitions
>they had no exp overseas and this would effectively be buying it in
>the shareholders demanded significant growth on dividends and share price fast -this is the fastest growth model
> strategic alliance risks losing core competences
>all the directors were approaching retirement and they had no succession planning -acquisition acquires additional directors and increases pool of talent to select new ones from
> potential synergies

>organic growth would have taken too long the directors wouldn’t be there to oversee which ruled that out for me

>can’t remember the fourth option

Essentially in making your choice I think you are supposed to be thinking about which option allows it to best overcome it’s weaknesses / threats and use it’s strengths

I am fully prepared for a resit for December. I ambitiously entered for P3 and P2 for September even though I only gave birth in May underestimating the effect of a lack of sleep on the old grey matter! POPIT model, I remembered correctly what one of the P’s stood for and the IT but the other two could I remember! So plumped for objectives and the other P i now cannot remember! Me thinks that the markers of both my P2 and P3 will have a right good chuckle to themselves when correcting them. Lesson to oneself to attempt one paper at a time, I am not superwoman, and family and health come first! Good luck everyone! Smile!

I argued a merger would lead to cannibalizing our own sales and has strong cultural issues particularly as a different country