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Slightly aggrieved that nothing came up on
1) Cost-Volume-Profit
2) Financial & Non Financial Performance measures
3) Environmental AccountingThe budgeting question was right out of left field. In detail I know ZBB, Incremental etc. This one was unknown to me. At least I put in planning, control and motivation for 3 of the 6 discussion points. Who knows maybe half marks.
TRansfer pricing 1st part was easy the maximal profit bit was a bit tricky to come up with a range of prices due to both having external customers. GAve it a good fist though.
Q1 – relevant costing, again, another from left field, but coped ok with it. Hopefully enough for half marks.
The learning curve but for 11 marks is probably a bit weak due to time constraints, but nailed the life cycle cost and answered as well as I could the final 3/4 mark bit.
Q5 Variances I think straight forward. DEfinitely used the right principles, so evenif answers not right should get some credit.
OVerall I’m not too happy with the exam, considering I put in some serious hours.
One last thing on the environmental accounting issue – I think everyone worked incredibly hard on this topic and had read the technical paper inside out. Gauling when it isn’t examined
this is a joke of a paper……i dont know why i bothered with BPP….skimming through budgeting as home study…..how ironic that a question came up worth 20marks! -i’ve learned more from open tuition than BPP!!!……how can i pay to join an open tuition class……a question on throughput would have helped…..difference between pass and fail!…..whats the point of Anne writing a bloody article on SA magazine when its not going to be tested.
I am really in mixed emotions about the paper.
Q1 – Was okay with it, unsure regarding the system being upgraded & the relevant costs but I think i would have got at least 15 marks.
Q2 – Didn’t even look over Transfer pricing until last night, part a) was just a profit statement I think and part b) I simply restated the profit statement excluding inter-divisional sales which = lower profit and c) I missed out, I would hope for at least 7-10 marks (if my restate method was correct!!).
Q3 – WOW!!!! this one got me big time, never even seen anything on “budgetary control objectives” however i wrote a load of crap but wouldn’t be expecting more than 5 marks.
Q4 – very fair question, for the second part (learning curve) I changed labour costs to fit in with the learning curve, i’d guess again, around 10-15 marks.
Q5 – Simple calculations with a little bit of ABC at the end, I was quick at the calcs and had time to check and double check my workings, realistically I would hope and expect to get the full 20 here (unkess i’ve done something stupidly wrong)
All in all it was a fair paper however i’m a bit miffed at the budgetary control question, but lets’s be realistic, it was in the syllabus and creating a student uproar would get us nowhere fast.
If anyone disagrees with my methods, let me know 🙂
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well what can I say but ……………. 2nd attempt @ this paper and it doesn’t look good concentrated on so many other stuff but…..
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It was ok….. Hoping for the best!
This attempt was mixed. The paper was neither hard or easy. Time constraints especially when you are hearing 15 mins more and you have finished the last question.But hopefully all who were prepared will get what they are looking for.
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Can any1 explain what exactly was suppose to be done in the transfer pricing question, im not sure what i did was right?
Also the ABC variance.
thanks
@ryman1 said:
Can any1 explain what exactly was suppose to be done in the transfer pricing question, im not sure what i did was right?Also the ABC variance.
thanks
I think the Transfer Pricing question you were supposed to:
Work out profit if Div A forced to buy from Div B
Work out how profits might differ if transfer price was altered and Div A was allowed to buy externally
Work out the optimal solution and talk about how it might be difficult for managers to get there.
Unfortunately I wasted loads of time mucking up part a (first assumed B was not selling externally!) so that part b was rushed and part c was a token sentence or 2!For the ABC variance I worked out the difference between actual set ups and the set ups expected for the number of units and then multiplied by the overhead absorption rate per set up.
Exam wasn’t that tough at all. Perhaps the fact that I realised early on that Q3 (budgeting theory) was something I hadn’t prepared for allowed me to do the remaining 4 questions well. Left Q3 for last and did the best I could. Still had 10 minutes left when the paper ended. Hoping for atleast 60%!
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@abenatrinidad said:
can anyone say when results will be out?Week after Valentine;s 😉
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Did relevant costing well ( I think) was also able to mention installations as being loss leader, variances ok, and life cycle cost with learning curve ok too…..however both transfer pricing and budgetary objectives although attempted will earn me around six marks out of 40 as I spent an hour doing transfer pricing wrongly and did not know what to write for budgetary control…..ended up crossing out all transfer pricing part b!!!!!!!!!
Does the budgetary control objective are:
Planning
Control
Performance assessment
Financial evaluation
Communication
Stock valuation
anyone let me know it it right?Overall think the paper was ok.. except, transfer pricing part b. But to write for 20 marks for just 2 part question means the examiner can deduct a lot of marks…
Q2. Was so trick… I did 20000 thousand fitting to be bought from… These two words autonomy and high priority was confusing… Hmmmm… Well there are always marks 4 the working right?
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Can anyone tell me ?what is the answer for yield variance ,is the total yield variance is 2565(A)?The material usage variance is 1150A
For Question 3
Can anyone tells what is the 6 objectives of the budgetary control system?
I wrote:
Planning, control, communicate, coordinate, motivation and performance evaluation. I thought all these is more relevant in F2?For the second part, I basically write the pros and cons of participatory style of budgeting in related to part (a). But I left 15 minutes for this question, so i am not able to write much on that.
@polldoll said:
I think the Transfer Pricing question you were supposed to:
Work out profit if Div A forced to buy from Div B
Work out how profits might differ if transfer price was altered and Div A was allowed to buy externally
Work out the optimal solution and talk about how it might be difficult for managers to get there.
Unfortunately I wasted loads of time mucking up part a (first assumed B was not selling externally!) so that part b was rushed and part c was a token sentence or 2!For the ABC variance I worked out the difference between actual set ups and the set ups expected for the number of units and then multiplied by the overhead absorption rate per set up.
For the ABC variance, if you are using BPP textbook, there is one example on how to work out the variance. (I am very lucky as I just did that question 4 hours before the exam, so still fresh in mind)
Well it was hard, not super hard but I struggle with time and bloody variances…:)
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Did anyone knows the answer between scenario 1 and scenario 2 in tranfer pricing question. I found the same profit.
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I just hope I did enough to pass with 50%.
Q1- OK
Q2 – left it to the end, I read one of the examiners article about transfer pricing the night before which made no sense and was hoping it wouldn’t come up. This was the hardest to think about what to do.
Q3- I was abit silly here, I first wrote about 6 items from PCCCEMA then thought that was wrong and then I also wrote about the principle budget, sales budget steps etc.. wasted time.
It was hard to find things to say about participatory budgeting for 13marks I think.Q4- I think I did OK applying the learning curve was tricky, part c about the assumptions or limitations of LCC on profit, performance management and something else had no idea what to write.
Q5 – Should have been easy but foud it tricky converting kg to g and my answers looked wrong. Are the mix and yield variance meant to add up to the usage variance?
I was confused how to do the efficiency and expenditure variance because there were no hours and to use ABC principles at the same time. This should’ve been easy marks but I found it tricky 🙁- Topics: 1
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@perist1984 did you change the demand for division b? falls from 200.000 to 180.000, if you do this did you change the labour and material cost then, adjusted to the new demand?
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