FM*** March 2026 ACCA FM exam – Instant Poll and comments ***

I struggled with section b. How everyone dealed with gearing question. I think it was diffucult.

Section C was hard

Section C 1. Calculate NPV (specific inflation rate for sales, VC, FC and working capital). Tax benefits. 2. Discuss relative merits of NPV and IRR 3. Calculate how financing investment by debt or by equity will affect Interest cover and gearing ratios. 4. M&M theory to discuss. I’m quite disappointed with that question in a section C, I practised WACC a lot. I am bummed I didn’t get any islamic finance questions but instead got freaking Baumol ?

Did anyone else get a negative npv result ? I did and thought I'd done something wrong

I got a negative NPV too in section c. Okay I feel a little better knowing that it wasn’t just me haha. Not really a great paper I was hoping WACC came up too

I got positive NPV (around 5m)

Found that paper very money / capital market heavy. No easy 2 marks for islamic finance which was mean. Just hoping section A and B have pulled me through because section C was nasty