FR*** ACCA Paper FR June 2019 Exam was.. Instant Poll and comments ***

Section c I got a profit and loss statement with several adjustments which ranged about 7 different topics but the eps was a five easy Mark even if u got the net profit figure wrong, got alot of consol in section a which was ok, section b I got some easy Marks and my other section c was ratios. I explained that because of that even if the sub has high margins before acquisition because the parents restrict sales from other competitors the overall gap margin would not have increased so much and that because of a revaluation the roce would have fallen because there was not enough sales to to increase pbit therefore increasing the overall roce. I also stated that It would be best for sales to continue to competitors

Section A was ok section B i had 1.research and development 2.Revenue 3.discontinued op's and assets held for sale Section C i had to prepare a consolidated income statement and explain how to account for an associate. And not that many adjustments all I had to adjust was for unrealised profit, amortization of intangibles and an associate that was all no tax no compounding nothing I was shocked Then for interpretation I had box.co I had to calculate a few ratios the entity had a new competitor and additional info Overall i feel i did good I was disappointed I didn't get any questions on cashflows, leases, tax, inflation, even compound instruments I had nothing not even in section C

I had that associate question too I just answered it in the spreadsheet

Section C I had P&L with 7 adjustments which I found fine and a consolidated P&L to calcutate margin ratio. Section A I found to be heavy on calculation, so much consolidation Questions. My whole exam was goodwill, nci and conversions. I struggled a lot with the spreadsheet and the word doc. Scrolling up and down was a night mare. I wrote most quickly on paper then transferred with decent layout to spreadsheet. Total waste of my time.

@opentuition_team said: How was your FR exam? Please post your comments below, and vote in the Instant Poll

The exam was OK but as said by many students the time wasn't sufficient to complete the two C section question no. 31 & 32. Further Qst no. 31 was to be answered in word format and it wasn't user friendly. The tab key didn't work to key in the values, and so had to use space bar which took lot of time. Also, while editing, it overwrote the earlier sentences without being able to add in new words and therefore had to rewrite the entire sentences etc for analysis in question 31. The table columns too couldn't be dragged to widen or shorten each column. This created shortage of time to complete the 32nd question. Hope ACCA makes the work and excel more user friendly for the CBE exams.

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Q31 was consol p&l for Pearson Group with sub being 9/12s and then an associate. There weren’t many adjustments (which kinda freaked me out) as I think I completed that question in 30mins or so. All previous practice questions took me 35/40 mins with a lot more adjustments. Q32 was Jolley Co. Calculated 6/7 ratios and then accounting journal for dealing convertible loan notes and then recalculating gearing again. Last part was analysis of performance and position using ratios calculated. Section B was Leases, Revenue Contracts & Intangible Assets. Quite theory heavy here. Section A was a lot on Goodwill, IASB Framework, NCI, ROCE & Gearing, EPS calc. One question on calculating operating cycle with Inventory Times, receivables and payables giving. Not really sure how I did. Hope to pass but it could have been a lot worse.

@grahamegan said: Q31 was consol p&l for Pearson Group with sub being 9/12s and then an associate. There weren’t many adjustments (which kinda freaked me out) as I think I completed that question in 30mins or so. All previous practice questions took me 35/40 mins with a lot more adjustments. Q32 was Jolley Co. Calculated 6/7 ratios and then accounting journal for dealing convertible loan notes and then recalculating gearing again. Last part was analysis of performance and position using ratios calculated. Section B was Leases, Revenue Contracts & Intangible Assets. Quite theory heavy here. Section A was a lot on Goodwill, IASB Framework, NCI, ROCE & Gearing, EPS calc. One question on calculating operating cycle with Inventory Times, receivables and payables giving. Not really sure how I did. Hope to pass but it could have been a lot worse.

I had the exact questions as you!! Likewise, Not sure how I did however I did say in my earlier post that I didn’t do as many questions practice as I had hoped to do but with those questions in the exam I felt that I was let of easy. Do you recall the overall message how Jolley Co had performed? I explained how overall they had good profitability but it would be wise to install tighter cost controls to ensure better profitability as well as making redundancies as the sector average on “return per employee” was way higher than that of Jolley Co effectively meaning that far too many people have been employed.

i thought i was only one who run out of time

I said overall they were performing well but they had a high inventory t/o and this needs to be addressed. I wasn’t sure how to deal with the revenue per employee so I didn’t/forgot to mention that. Overall they were performing well.

I think the lower revenue per employee was due to more employees at the year end as they had opened new stores in Feb and March.

The exam was okay but I did not manage to answer all of section c questions because of time. I could not even review my answers

I want to say thnks to the open tuition team especially the lecturers they were helpful had lots of audio lectures.I wasn't able to go through my consolidation just before exams especially p& L I made lots of mistakes I forgot to take a portion of the Nci to consolidate I added it 100% and I didn't apportion my profit.i made mistakes in my jolly ratio analysis with roce instead of pbit/capital employedplus long term interest bearing debt *100% I used capital employ as a numerator over capital employed plus long term interest bearing debt*100% though I wasn't sure if that was wat I used but I had a feeling it was the mistake I made.I applied the technique I learnt frm the webinar by skipping difficult questions for later and going back later.i attempted all I felt better answering my FR questions compared to AA as my computer system logged me out during the AA exam and never let me in again after frantic attempt by th examiners to restore it .I had 1:20:43 secs left unused though it is been resolved.i await my final result.God help me.thnk u open tuition thnk u

I strongly feel ACCA should be giving students options between choosing computer and paper based.exams. I wrote my exam from Istanbul and the key board was in Turkish .Tried to change to English but kept coming back to Turkish.Oh my me ! ooh !!!! I spent more than 30 minutes fighting with keyboard.what a waste of time. Like this then they happen give me 46 or 48%.Its really unfair Strangely from all comments there is only one comment that talks about the questions that I wrote.The one for box Co.on ratios.Does it mean that we wrote different questions? How then fair are these exams if we are writing different questions for the same exam diet? ACCA must do something better than what we are seeing.I stand to be corrected.

The FR CBE exam was not easy at all. A lot of calculations required and little time, not only loans loans and loans everywhere, but a lot of shares at the same time.... 3 hours is absolutely not enough for this paper. At least 3,5 hours needed.

Time was sufficient but the portion was not covered. I got ratios only for 5 marks and everything else was revenue.