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overall it as pretty much easy compare to June examination
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Was very straightforward apart from q5…
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Not bad at all
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I am not quite sure I will pass or not .. I forgot all my answer once I step out from exam hall .. Sigh .. 🙁 .. Good Luck all for you guys ..
In Q1…the audit partner was the member of audit commiittee? It is a familiarity risk..or not?
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Do smb remember the first 3 MCQ and answers pls?
I did the stupid mistake in my resitting F8 paper in confusing NOT going concern with going concern.
So I did elaborate a whole answer based in explaining why the eneity has a going concern problem instead of, as requeste by examiner, explainig why they do NOT have a going concern problem.
SHHHH….
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Don’t panic !!!!!!!!!!
Required:
(a) Explain FIVE potential indicators that Mercury Motoring Co is NOT a going concern.@eirine said:
Don’t panic !!!!!!!!!!Required:
(a) Explain FIVE potential indicators that Mercury Motoring Co is NOT a going concern.Unless I’m totally confused and would be very fool after 2 sits….
NOT a going concern: Means that the company is able to continue its operations in the foreseable future.
Going concern: Means that the company isn’t able to continue.
Isn’t it?
@non47 said:
Unless I’m totally confused and would be very fool after 2 sits….NOT a going concern: Means that the company is able to continue its operations in the foreseable future.
Going concern: Means that the company isn’t able to continue.
Isn’t it?
Going concern is a term for a company that has the resources needed in order to continue to operate indefinitely. If a company is not a going concern, it means the company has gone bankrupt.
Actually I made the same mistake. Justified that the situation is very bad but not fatal..
Required:
(a) Explain FIVE potential indicators that Mercury Motoring Co is NOT a going concern.This question is asking you for indicators that MM Co is not a going concern. The NOT is stressed so you dont get confused. This is probably one of the easiest questions in the F8 exam except if you got it mixed up.
To say the truth, this is my retaking F8 examination. At the first time trying, I got 48 marks even in case of not doing a question valued 20 marks. At this retaking exam, I knew my weakness that is examination techniques not the knowledge, so I tried to read all the examination’s reports through periods, practiced doing the previous year’s papers,.. to improve my technique to finish the paper as quick as possible, and I think I did well. Now I am waiting for the official result of this paper on the next 16 Jan 2015. Hope you and I will pass this paper.
At the first time reading the case, I got confused as you, but I kept calm and be alert, because the case listing a lot of signals indicating about not going concern of the client other than they are doing their business well. So I know ” not going concern” here is the bad sides of the client not the good signs.
I thought they said the company was a new client and not that it was a new company.
@densey said:
I did the same!
I was told it was not relevant!
Dont worry about it 🙂@mc20united20 said:
What!? I asked the invigilators regarding that and they told us to leave blank unless you do F4, F6 and P6.I did the same!
I was told it was not relevant!
Dont worry about it 🙂Spent too much time on 10marks QUESTIONS, never the less i think the paper was well balanced. Question 2 and 5 gave me a good run to same extent, failure to fully understand the questions requirements.Kindly confirm Q5, hoping for the best!
Familiarity,self interest and self review is what l wrote for q1 but q6 was a knocker l saw it 20min before finishing time.
@eirine said:
Do smb remember the first 3 MCQ and answers pls?do you remember any questions of multiple choice, its like ive forgotten if ive even attempted any x_x
@ehsanshah said:
my first MCQ’s were C and there were a lot of C’sdo you remember any questions that came in the mcq. Any whatsoever? I cant remember even one question dono why x_x
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