*** F7 June 2014 Exam was.. Instant Poll and comments ***

@sarahacca (i) you had to work out the six ratios that were given in the question for the next year end (based on figures given in Q) and Part (ii) you had to ‘unconsolidate’ sort of Shaw from Woodbank? or whatever it was called and recalculate the first four of the ratios, then compare and comment on the financial position. Most were similar, but gearing had increased dramatically and gone from 5.Something% to 35 or 36% ecause of the acquisition of Shaw. For a 15 mark discussion question there really wasn’t all that much you could say about it, given that we had no real info on either entity. Really odd 15 marker.

for #2 I got 292 as well; whatever difference I had I put to retained earnings because I know I didn’t calculate that rights issue correct. I think I passed.

Q4 topic revaluation reserve & asset disposal I think, but I left this question until the end and didn’t get time to do it.

Q5 topic was contingent liabilities. 3 scenarios and had to say how you would deal with each.

Results are 4th August

Hi.

I have attempted ACCA exam -F7 although I have solved all my questions,
I did not indicate the questions chosen in the front of the exam booklet, but I did highlight the questions on the top of solution papers

Please tell on the what is the consequence of this slight mistake.

Waddah ahmed

I don’t think it matters because all questions are compulsory. I think the tick boxes on the front are more for papers where you can choose which questions to attempt.

Well what a balls of a paper…if anybody can explain questions 1,2,4 and 5 to me I’d appreciate it!! I got question 3 the ratios were fine but ran out of time towards the end. I pity the poor marker who has to correct the absolute dribble that I wrote so if they read this I’M SORRY!!!! I ran out of time!!! What an absolute shocker of an exam paper. Completely f*cked it up….already have the December paper scheduled in my diary!!!! See ye then peeps!!!!

@Julia As far as I remember it as:
6 marks for calculation of goodwill
19 marks for P&L with other comprehensive income

At least thats what I did 🙂

thanks, I really wonder if i’ve seen all parts in question now because of time preasure

my is 287000, surprised me, as i never got it balanced in revisons.

Hi can anyone tell me the treatment of sales to associate in q1

If you had more time then the passing mark would have been higher (say 75-80 instead of 50). ACCA is also testing your organisational skills, time management and decision making abilites e.g. to “cut” question answer when time is up and move on, to select order of question (easiest -> hardest). They are also testing how you cope under time pressure and stress – do you give up or not. I bet many of us had those exams where things weren’t going well and thoughts of giving up were running through head.

They are not looking for perfect answer but the best answer possible in time constraint.

In real life you also have deadlines, stress, tricks that occasionally put you off – and the exam is probably intent to also reflect this “environment”.

Im not saying Jun14 F7 wasn’t time pressured – it surely was !