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I predicted the exam correctly, but made an error in q2 and q3 was a disaster. q1 was ok. I didn’t have any issues with it. MCQs I am still on the fence with that section. Not sure how to feel about it.
am waiting for a miracle to happen. The first 15 minutes i scanned through the mcqs and i only had two direct answers….within 15 minutes!!! the rest of the 18 questions required intense understanding. Generally th paper was unfair to me.
This exam i think was tough and time pressure was too evident. Question 3 as impressive as it was required a lot of work and application.
question 2 was okay but spent a lot of time doing the recalculations for the ratios especially bearing in mind the discontinued operation adjustments for too little marks.
Lets see my results in AugustCouldn’t agree more Amanda on the recalc of ratios. I managed my time badly. I felt I was sailing away (time wise) until I hit that. I feel the way most do on MCQ’s I think – a mixed bag and I took “educated” guesses on about 4 of them rather than out and out knowledge. Good luck to all for August though – let’s hope for the best!
@evanslawlor15 said:
Hi All,i’m actually just looking for a bit of advice here in relation to potentially having to sit F7 for a THIRD time. i’m hoping I passed it 2nd time round but just in case I didn’t…I’m just already thinking ahead slightly and deciding whether it’s best to re sit in September and maybe start through questions and revision in about a month just to prepare (as a just in case) or just attend classes again and properly repeat this from scratch and sit in Dec. Has anyone else had to sit this 3 times in an attempt to just pass the damn thing?
Also, has anyone else just studied this themself at home? This time round as I was repeating it I decided not to go to classes and do it myself at home (my course was paid upfront by employer so e ach time I repeat it’s taken from my allocation).Any suggestions anyone?
I am in the same situation as you. I actually thought December paper was okay if only I revised a bit more and got that few more percentage to pass. I thought June will be okay to pass since it’s my second attempt but June was a lot harder than December.
The paper was too long and required a lot of working and the MCQ required in depth studying to actually understand it.
There was no questions on impairment on assets, revenue, I recall it being a lot of Non-current Assets or Intangible assets.
I need a miracle as well.
One exam I thought I was adequately prepared for, only to battle with questions. I hope am lucky enough to scrape 50%. Keeping my study materials close by :).
F7 was my first Acca paper but i find it difficult especially question 3,i was surprise to see suspense there when i was even taught in class about it.
Hi Saihee
I think the suspense account very basic and certainly falls under assumed knowledge. The examiner gave a clear and concise statement of what had happened and therefore the adjustment required was quite clear. It was definitely one of the easier (if not easiest) part of that question I’d suggest?
Only worth a couple of marks so not worth stressing yourself over that one element alone.Best Regards
Chris
Hi,
The full paper is out on ACCA’s site… No suggested answers for atleast section A?Section A of the exams has been published can someone please tell me if and when the answers will be uploaded please?
scared to know answers of section A….i need to score max to brighten my chances of seeing this thru….full paper @
I had a quick look and from memory I’m think these are right, just double checked a few:
2) D
3) B
4) C
5) C
7) D
9) A
10) B
11) D
12) C
13) B
14) A
15) A
17) B
18) C
19) A
20) CAnswer to 6) is B, irredeemable pref shares are equity, I put A in the exam but looking into it further the shares are actually equity.
Sold without recourse means factor cannot claim debt from seller.
Agree with James 2) to 5) and number 7)
8) surely is A, ii) can’t be applicable as loans are irrelevant and iii) only has 49% equity, needs 50% to be sub.
I have 12 matches with you @James hope we both are right on these and more…prayers prayers and prayers
I think in Q8 we deal with
I – 40% associate
II – sub since Germane has ability to convert loan into equity shares
III – 49% associate
When we consider parent we deal with subs and associates so my choice is DHey guys, for number 3, wasnt C suppose 2 be the right answer because it asked for non adjusting event and as i see it the settlement of an insurance claim for a loss sustained in December 2014 would have to be recognised as a contingent asset.. What do you think?
@sis00 said:
I think in Q8 we deal with
I – 40% associate
II – sub since Germane has ability to convert loan into equity shares
III – 49% associate
When we consider parent we deal with subs and associates so my choice is DI think you are right even though i think i chose C, it makes sense as a parent can have both sub and associate’s relationship…
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In regard to MCQ (2) – I choose B as future economic benefit doesn’t require revenue but also includes for internal use a reduction in costs. I was split by B and D for this reason during the exam.
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