Forums › ACCA Forums › ACCA FM Financial Management Forums › *** March 2022 ACCA FM exam – Instant Poll and comments ***
- This topic has 45 replies, 21 voices, and was last updated 2 years ago by Shivvy.
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- March 12, 2022 at 2:03 pm #651163
Feel like so.. Acca does not crack jokes n like eating marks ?
March 12, 2022 at 3:27 pm #651167nmenon3 wrote:Yes I did
what was your answer
March 12, 2022 at 6:23 pm #651181Did anyone have a question where it asked for the total value of one company based on the P/E of the second?
Market value of second company 3875.00
Eps 0.75First company 100 m 0.50 nominal value shares with profits of 55 m and dividends of 20 million.
I was quite stuck at that question not sure about the answer.
March 12, 2022 at 8:34 pm #651188Got this question too! so glad others got a negative too!
Found section B really hard and then a 7 marker in c about ROE on raising $18m rights issue and loan. got stuck
March 13, 2022 at 6:28 am #651198Got this question…I calculated the eps by taking the total profit attributable to shareholders after the payment of the dividend… that is 50 m, cause I the question it is written as this is after paying 20m to the shareholders
I think I got $11 , the market price per shareMarch 13, 2022 at 6:30 am #651199I think I selected no for that.. wasn’t it something like selecting two options?
March 13, 2022 at 5:32 pm #651227Lot of theory in section a and b which required deep knowledge of the text and technical articles but overall it was good and section c was really good too with npv and early discount and factoring question:)
March 14, 2022 at 11:37 pm #651284agboolakenny84 wrote:Mine was early discount. Different paper types. Was your NPV in the second theory question positive or negative ?
I got a positive NPV. Did you use the entire fixed costs amount ($45m) or just the incremental ($6m)?
March 15, 2022 at 8:56 am #651307Very bad set it was
March 15, 2022 at 9:01 am #651308What answer did you get for early settlement and devt factoring
March 15, 2022 at 7:45 pm #651333? got Positive NPV ,why you guys reached to negative ? Does anyone remember whole question ? I got positive npv and calculated IRR,PAYBACK, ARR based on CFs of NPV which i considered inflation on sales , variable ,fixed cost , investment and residual value .What else calculations you made and reached to negative ? If it should be negative ,then all my calculations will be nil ?
March 15, 2022 at 7:53 pm #651334First i took only factoring option favorable ,then i saw that in settlement discount it says that bad debts fell by 5 % which i didn’t considered in my settlement discount calculations.After corecting it i reached to conclusion that both options are favorable
March 15, 2022 at 7:57 pm #651335I took discounted payback ,but i think i made mistake it was asking just payback period
March 15, 2022 at 8:35 pm #651336I got positive NPV too but I did the working capital the wrong way round – included it as inflow in Y0 and as negative in Y3….
I also only included fixed costs of 6m every year (not sure that’s correct), which resulted in operating loss in Y3 and hence no tax on profit, which threw me and I think I’ve done something wrong…..
Has anyone got that?March 15, 2022 at 8:36 pm #651337I got positive NPV too but I did the working capital the wrong way round – included it as inflow in Y0 and as negative in Y3….
I also only included fixed costs of 6m every year (not sure that’s correct), which resulted in operating loss in Y3 and hence no tax on profit, which threw me and I think I’ve done something wrong…..
Has anyone got that?March 16, 2022 at 4:01 am #651344You had a different set I presume
March 16, 2022 at 4:03 am #651345For those who got a negative npv,I’m talking about a question where we had maintenence cost and admistration cost, followed by a capital rationing question.
March 16, 2022 at 5:28 am #651347Yes the npv was positive there was no tax and working capital changes so it should be positive as u only had to solve the question upto cash flows before tax and apply discounting rate
March 16, 2022 at 10:34 am #651353adamek144 wrote:I got positive NPV too but I did the working capital the wrong way round – included it as inflow in Y0 and as negative in Y3….
I also only included fixed costs of 6m every year (not sure that’s correct), which resulted in operating loss in Y3 and hence no tax on profit, which threw me and I think I’ve done something wrong…..<br>Has anyone got that?I initially got an operating loss in Y3 too and it threw me. The fixed costs are correct. I had to adjust the expected sales volume in Y3 (75% decline from Y2). I initially had about 4,900 units (~19000*0.25) but I had to revise that to about 11,000 units (~19000/1.75) which led to an operating profit.
March 18, 2022 at 10:15 am #651491Section C:
1. Factoring with recourse and early payment discount offered to customer.
2. NPV, IRR, payback period and ROCE.For those who had this exam can they remember the NPV and IRR they got? For the NPV, I got over 13K (cant remember exact figure) and for the IRR I got over 17% (again can’t remember exact percentage)
March 31, 2022 at 12:27 pm #652414That was SUGAR SUGAR
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