*** March 2022 ACCA ATX exam – Instant Poll and comments ***

Disaster for me!
Everything I didn’t want to come up come up

It was an absolute disaster for me. My last paper 3rd time round.

Change in accounting date, basis period, capital goods scheme. Basically all of my weak points came up.

Plus i find ACCA make questions unfairly difficult. Test us fairly. No need to try catch us out.

There was one question where it had a double negative in it- “she didnt disapply incorporation relief”. i.e the person applied incorporation relief.

Hardest thing to process is all the time you have sacrificed away from family to find out results 6 weeks later and to able to resit 3 months later.

ACCA need to be less rigid and get with the times.

Tired of this now.

Emma wrote:This was my 4th attempt. By far the nicest paper I’ve had but somehow still not feeling confident. Couldn’t work out the basis periods and got to 5 mins before the end and relalised I didn’t answer the groups question (8 marks)

This was my third attempt and I agree, this has been the best paper by far which is why I hope to God I’ve done it this time.

Most of the paper was fine, only tricky points for me was not knowing how to account for the brother’s receipt of the benefit money from the trust? Could have been part of his income for that year but I didn’t want to chance it. VAT capital goods scheme was niche to include but I only remembered about 2/3 of the formula correctly. Hoping to still score half marks maybe.

For the change in accounting dates, the question asked how this would affect capital allowances and corporation tax dates. I explained that the capital allowances and the AIA would have to be pro-rated for the 15 month period. For the payment of Corporation tax, I explained there would now be 2 separate payments for the 12 month period and 3 month period. BUT there would only 1 filing date (12 months after the 15 month period) and then I put what those dates would be.

Not good…. Not sure what the questions were actually asking / the topics were being tested on, like one of the questions was asking something about the advantage for a worker renting an apartment instead of renting a house?? I don’t even know which topic is this question referred to…

I see, tx stuff..(facepalmed)

There is a new syllabus for June 2022 onwards…. I looked at it and it appeared that “Restrictions on the repayment of losses incurred by small and medium sized enterprises (SMEs) arising from research and development expenditure” is no longer examinable.

Is that it?