*** ACCA Paper FM March 2019 Exam was.. Instant Poll and comments ***

There was a couple of tricky questions.
One of them was in section A about market value of convertible bonds. The question was similar to September 2016 past exam question 11, with only major difference. Yesterday’s question provided after-tax cost of debt, not before-tax cost of debt, if I remember correctly.
As far as I remember we always calculated the market value of such bonds using before-tax cost of debt. I do not know what was the intention of examiner to include trick in such a straightforward question. At the end I chose 130, but I am not sure, it could have been 138.

Another one was about asset valuation in section B, if I remember correctly. Asset valuation question included goodwill, which you do not see much in questions.

Section question C was full of tricks. 80% issue with credit purchases and cost of sales. I am not fully sure about my answers, could have lost precious points there. In my view, this was the case for most students.

Exam questions were not well spread, there was no WACC question and no receivable management, quite surprisingly.

For future exam-takers, Open Tuition materials and textbooks of learning providers, coupled with past exam questions are just enough to pass exam. But you have to study the whole syllabus. I would also suggest to practice in CBE mock answer sheets. I noticed that some of students thought that this works as Excel. There are some differences.

However, if you aim for high marks, these are not enough. Even if you do all past exam questions, CBE mock questions, you will see tricky questions. I hope that they will include section C inventory-related question in past exam paper in coming month.

Hi I had the same question. Do you remember how did you inflate sells prices? There were individual sell price and variable costs for each year.

I also had no receivable management theory or numerical. The 4 mark npv and inflated the sales by 4 and costs by 5 I think it was but accounting for 2 years of inflation in year 2 and so on

Anyone have the question on the implications of implications of how a company finances working capital in section c?
Any marks to be gained by listing factoring, just in time and extending credit terms from suppliers..long shot!

I had the question of implications and put all the things about credit, discounts and factoring then read it was the financing not level of working capital. So matching fluctuating assets and permanent current assets with finance methods. Annoying as I’d written a good answer for working capital levels

hi everyone
I am planning to give F5 exam in June is it possible and can anyone give me guidance on how to study in order to pass the exam

will be glad if someone tell me

You can select it for September. So choose other exams in June and you have the option in taking it in September.

I had that IRR question in which we had to calculate IRR through 11% and 12%
I got positive NPV for both these rates .
And then calculated IRR that was around 17%
Did anyone get positive NPV in both rates ?

i am very nervous. in december i failed FM with 47% and i do not feel very good by Mar 2019 either. 🙁

Got WACC 19.67%

I wanted project specific capm but didn’t get it. I don’t believe it will make any difference so long as numbers right

@archi604 said:
There was a couple of tricky questions.
One of them was in section A about market value of convertible bonds. The question was similar to September 2016 past exam question 11, with only major difference. Yesterday’s question provided after-tax cost of debt, not before-tax cost of debt, if I remember correctly.
As far as I remember we always calculated the market value of such bonds using before-tax cost of debt. I do not know what was the intention of examiner to include trick in such a straightforward question. At the end I chose 130, but I am not sure, it could have been 138.

Another one was about asset valuation in section B, if I remember correctly. Asset valuation question included goodwill, which you do not see much in questions.

Section question C was full of tricks. 80% issue with credit purchases and cost of sales. I am not fully sure about my answers, could have lost precious points there. In my view, this was the case for most students.

Exam questions were not well spread, there was no WACC question and no receivable management, quite surprisingly.

For future exam-takers, Open Tuition materials and textbooks of learning providers, coupled with past exam questions are just enough to pass exam. But you have to study the whole syllabus. I would also suggest to practice in CBE mock answer sheets. I noticed that some of students thought that this works as Excel. There are some differences.

However, if you aim for high marks, these are not enough. Even if you do all past exam questions, CBE mock questions, you will see tricky questions. I hope that they will include section C inventory-related question in past exam paper in coming month.

I have just taken the June exam and completely agree with the above. I used textbooks, learning providers, huge question bank, loads of past papers, specimen exams and all sorts…yet still got stumped on some/a lot of questions that came up. Even after studying SO much I still felt unprepared when I saw the questions – ACCA clearly like them to be very tricky and catch you out. Not much of the syllabus was examined.
I find that the learning providers give you the basics and formulas etc but ACCA will throw in some comments in the questions to make you question yourself.