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Too much to read & too much to write with limited time, simply impossible to finish!
yep an awful lot of reading and not enough time to answer. rushed the last two parts of question 1. hopefully done enough for 50 fingers crossed
2nd attempt for me. Thought 50 marker was ok managed to keep working time allocation!! Chose Q3 & 4 but didn’t complete them both due to timing. Feel I may need a third attempt!
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Exam paper was flooded by the information, too much to read. ROCE (Q2) was simply a disaster when i started it. Thought of nailing it down but was nailed by the examiner!!! Can anyone confirm what was the ROCE percentage?
did really bad.. and i don’t even understand what the examiner wants and the questions are really unclear…
seriously.. i read question 1ai for a few times.. and still unsure what does he mean by a revising the Q1 budget… does that mean flexing the budget?…. so confused.. definitely need a 2nd attempt for this paper.. omgI got ROCE 12% for year 1 and 22% for year, so wrote it would be rejected even since 2 years seems very good.
The paper was a complete disaster
Acca is money minded
How can a paper be like this
Q1 i) was on revised budgeting for q1 by using incremental budegeting (6 m)
ii) prepare rolling budget for a division (6m)
iii) was on how the 4 division has been performinng and recommend (19m)
IV) non executive directors comment (6m)
V) cant remember the question was on 12m and i left this part out ofq2 was on performance management calculation of roce and part was
on balance scorecardq3 was on current performance issues and how to add (10m)
Use of lean information for new proposed measures (6m)
Use of lean 5s for the proposed measures (11m)Q4 a company was about to acquire another company and both compagnies info was given… benefits and consequences of use of employees bonus scheme to assess if can be used in both business(8m)… use of pest for employees bonus scheme in both business(6m) and last was on mckinsey 7s model by using structure strategy style and value base for both businesses and recommend kpi to be appropriate (11)
Overall was not expecting budegeting and others questions was lengthy and very time consuming. Very disappointed with the paper setting
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I need a third attempt as well….and I passed all the other papers at first time scoring good marks. For sure something wrong in my approach. Anyway I found
Q1 ok, maybe 30 marks
Q2 ok, maybe 15 marks
Q4 Disaster….maybe 3 marksI choose Q2 and Q4, because I don’t like the chatty bits on MIS…wrong choise…Q4 was a nightmare
Has the McKinsey 7S model ever been tested? Pass rate in March was 28….what now?
I wrote on his comment and that he was right to raise the ceo doubt on the management style and that internal factors such as resource management must be considered to identify why division are not performing well.
Poor control may comes from poor management style mostly the former fd resign form consequtive decrease in profit margin.Dunno something on this i write
What did you write for the last part of q1
Horrendous paper. I’ve passed every paper first time and this one is my last, I spent 3 hours a day over the last 10 days doing past exam questions and it didn’t help in any way. Where was the analysis of a performance report? Where was there an mission statement or objectives? The exam was a joke.
I did not waste time once i got Roce wrong, i knew something wasn’t right, no point in going back and doing all over again, just move on!
for the impressions though:
it was 9500 impressions in 1 mould
1 mould was 750,000$
in 100 Impressions there were 6 rejectionstotal units demand was 100,000
& Contribution was 40%so;
9500/100 = 95 x 6 = 570 total rejections in 1 mould
Total rejections = 570 x 100,000 = 57 million in 100,000 mouldsrevenue / impression = 750,000 x 100,000 / 9500 x 750,000
= 75,000,000,000 / 7,125,000,000 = 10.5
Now revenue/impression x no.of total rejections = Lost Contr.
= 10.5 x 57 million = 600 Million
In millions:
Profit = 100,000 x 750,000 = 75,000
Contr 40% = 30,000
Lost Contr = (600)
Manufact costs (1.9)
Some additional costs i forgot (….)
Profit….This^ profit figure / Cap. employed (i think was 10,000 million)
= ROCE…which i still got wrong, some calculations error, but that is what i can remember..
Ofc i went to next theory part ASAP, there was no point hanging in there trying to correct figures.. would have wasted even more time then…@natmhl813 said:
did really bad.. and i don’t even understand what the examiner wants and the questions are really unclear…
seriously.. i read question 1ai for a few times.. and still unsure what does he mean by a revising the Q1 budget… does that mean flexing the budget?…. so confused.. definitely need a 2nd attempt for this paper.. omgYeah this was needlessly confusing. I think all that was required was to restate budget as the actual figures, which were provided In the answer paper as there were no other indicators in the appendices! I then talked about how they weren’t controlling costs due to drop in gross profit from 40 – 38 which shows costs were increasing. Also that admin was not planned correctly.
I hope this was right, the next part makes me think it might’ve been as you had to use Q1 actual to redo the budget there. I know this as one of the Qs on the june/Dec ’16 sample paper involved recalculate of budget in 4 quarters.
Also for q4 Last Mckinsey, i think they themselves stated which 4s out of 7s the Institutional Investor wanted analysed.. there is no point for all 7’s, anyways there was never time for that.
I totally thought components required were the sales volumes, but meant by ROCE made no sense! I thought it was supposed to show a higher one for the old product, but mine didn’t!
Now I’m thinking number of impressions needs to divide into this!? Is that right? It really didn’t seem to make sense to me.
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anybody know what was to be done in 1a? I recalculated using the actual sales figure for the budget and argued that since there is no growth the sales figure should have been better forecast.
For Roce in Q3 I got something like 13% for the old mould and 12% in years 1 and 2 and 22% in Y3 assuming constant cap employed.
This was my first attempt and have a feeling I’ll be sitting again, I memorised all the main models, revised reports, csf and KPIs. Found the paper lengthy to read and ran out of time.
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What I did for Roce was the following:
100,000 components required
6% faulty
therefore 100,000 / (1-6%) = 107k or something attempts to get 100k good components
107k divided by mould lifetime 9,5k = x mouldsQuestion 1:
i – I did flexible budget which results in 2F instead of 2A variance
ii – I made the budget but I have also mentioned that the sales will not be increased because there was a problem in the production department.
iii – Need to comment about the budgeting style of all division.
iv – I have not attended this question. I planned to attend in the end, but forget :/
v – Change in Management Accounting (Burns and Scapns) I tried my best to relate it to the question like IT change with EPRS, organization structure and competitive environment etcQuestion 2:
a – Calculate ROCE.. it was tricky, I said that moving M to P is beneficial for the manager because ROCE was higher than M and target of the manager. I just made my own numbers to save time.
b – I don’t remember this but I have answered this question
c – Balance score card. We have to write that whether the KPIs are short term or long term. I have written that EVA is long term, repairs are not because this will give company bad reputation, module time is no and number of sales does not calculate innovation etc.Question 4:
a – Benefits and disadvantage of using performance measure to link with the bonus.
b – Use of PEST analysis in the reward system. This was very confusing question. I tried to said that, due to PEST (legal issues, and other things) it would be difficult for managet of first business to achieve the target and get bonus and easy for the second business. So, i conclude that PEST do effect the reward system.. bla bla bla.. I am not sure that what to write so i make it lengthy by making points for everything was mentioned in the question lolz.
c – I left this question due to lack of time :/
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