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i think for question 4 part a, the examiner wanted us to identify the type of leasing maybe it was an operating lease and elaborate on it afterwards as there were not much info available..anyone agree?
Hi @nizarsalleh.
I did F8 last June. Passed exactly 50 marks. Just an average student. But read full notes of opentuition 2 times, practice past year papers 3 times and read the ACCA technical articles 2 times.
I was late for the exam 30mins because of last minute change of venue. I left one whole question unanswered. Good luck
Regards
HaseenaIt’s funny, when I left the exam I felt incredibly confident. After reading this thread I know I’ve made at least three mistakes! I want to get at least 60% in order to guarantee a first in the OBU, so I felt a bit of pressure for this one.
I think discounting with 7% was correct for the lease/buy question. The reason I think so, is because I did a couple of similar practice questions, where they said to ignore tax (as I think was the case in question), and the answer said if tax is ignored, use a pre-tax discount rate (i.e. do like for like).
Hey,
I noticed a few posts back someone mentioned results will be out on the 8th of January. Is this correct? The guidelines I read say 8th of February??The paper this time round was not time constricting…managed to do all the workings,but was really stuck in qsn 4..not sure which discounting factor to use!!!!(10mks)..but lets hop for a pass..
Can someone please tell me if the reasons for rise interest rates on bonds are liquidity, expectation and market segmentation theories? Also reasons for change on Wacc with in cap structure business, financial and project specific cost of cap?
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Because working capital starts at To, the T4 value goes om T3 and then the overall reclaimed goes in T4. Not sure if that is true but it is what I did.
Did anyone get one positive working capital figure? I think in T2.regard question 1)
for part (a), i inflated all the cash flows, calculated tax charge, capital allowances and working capital requirements (based on inflated sales). I discounted them all at the monetary cost of capital, t0 obtain a +ve NPV of USD 4,000,000.
For part (b) i used the revenue and cost AS STATED in the question, calculated all other cashflows (tax and all others) and discounted them at a REAL cost of capital of 7%….again i obtained a +ve NPV
Was i correct???????
messed this paper like hell, calculated wrong EOQ, wrote the correct formula to get the discount but got confused, in lease vs buy need to use the discount rate of the borrowing, used no discount rate at all, calculated the real cash flow wrong and as well as the NPV ( forgot to minus the capital cost and investment from the final figure). Did not know what to write in attractions of short or long term lease :/
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I think the examiner was fair enough. Pity their was islamic finance involved. Never really focussed on it.
I have underestimated f9 as it is similar to f5
So that i learned for f9 about 3 days
And I v done everything wrongly .Working capital for 1a , the whole 1b, ungear for 2 and no islamic finance
Just lost about 20 mark now
Hope for a marginal pass@John Moffat And any idea about when are they going to announce 4 sessions per year?
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Hey @duc169,
There was Islamic finance for 5 marks. I was happy because I was ready for anything islamic finance. It’s a shame it was only 5 marks.I got exactly 4m too. And 4.3 for part b. Im glad soneone else got the same answer!
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When working capital is recovered?
I think Working capital is recovered at the end of the investment/project life. But if the question says that the project will continue ( i.e project evaluation was done over a period of time less than the life of the project) working capital will not be recovered.
or working capital is recovered if the machine is disposed off and not replaced. If the machine is replaced working capital will not be recovered.
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I also read posts and find errors, but still hope to get enough marks. I found more theoretical questions than in June’13, or it just seems to me…also to calculate NPV twice was a bit monotonous activity…
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Pls I had 2 different solutions for question 4a. Iheard from some acca experts that the examiner usually marks d correct one and ignore d wrong one. Pls hw true is this
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