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

Hmm I don’t know how I feel about this.

Time wise – I finished 20 minutes before the end of the exam.
Complexity – I headed into the exam knowing that I will fail as I hadn’t done much question practice but I knew the syllabus insight and out.
Question – I had Ratios, Consolidated P&L in section C, leasing, financial instruments & agriculture in section B and section A mostly consisted of retained earnings and goodwill calculations with more emphasis on accounting framework.

Weirdly enough all of the questions I was presented with I had practiced just not to the extent I had practiced questions for F5,F6, F8 & F9.

I’m sure vast majority of us have passed, I’m certain I’ll fail but there’s this hope back of my mind that the questions I did have could just edge it over the pass mark.

Had similar feeling with F6, every answer I selected just made sense mathematically and logically.

Has anyone else felt like this after an exam?

Did we all have different exams as I cant relate to any of the comments above.

I had section C – a consolidated P&L and ratio analysis on Jolley Co

I found the exam easier than I had expected to but also concerned that I ignored any financial instrument elements!

I got this question as well

The exam was actually better than past exam questions. Section A & B not too bad. I has to rush the last Q and probably only got 6 or 7 marks there.

What did people calc as the tax charge to SPL in the first question in part C? I took the tax estimate, then deducted the CT overprovision, then deducted the difference between the DT balance on the TB, with the required DT (as this was lower).

Also did people get the loss on disposal of the plant as 472k? Did they add this to COS?

@nichani said:
I had consolidated P& L with an associate and ratio analysis on Jolley Co. I found the OT questions quite challenging which is 60% of the paper. Dreading July 19

Looks like i had the same paper and exactly the same feelings – section A and B were really tricky, section C not that bad

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

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.

..

@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 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.

You guys noticed the note about the subsidiary stoped selling to competitors right that’s the part to analyze and see the effect of that

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