New P4 Lectures

great John. thanks for the lectures. they will definitely help but we also need some on valuation of companies

There will never be a lecture specifically on valuation because there are no techniques needed that are not already dealt with separately in other lectures. What is needed is more the approach and interpretation of questions and so I will record lectures working through past questions. I am going to record a lecture working through question 1 of the December 2014 exam either today or tomorrow, and so that will be uploaded early next week. More will follow later.

Thanks for the q1 dec 14 solution, extremely helpful!! When you say above 'more will follow' above, are you referring specifically to more past exam business valuations solutions?

I am pleased it was helpful (it was awful to record :-) ) I am intending to record worked answers to all of the current examiners past questions, but it will not be immediate. I go on holiday on Monday for ten days, so although I will still be answering Ask the Tutor questions while on holiday, I will obviously not be able to record anything. I will start recording again when I return.

thanks for the lectures John, they are really useful, reading from the text book is not always as easy to understand, where working though examples with your lectures are. Keep up the good work.

You are welcome :-)

Looking forward to your record worked answers to all of the current examiners past questions, the mean a lot. Keep it up Yours in dire straits

sir please help me with the concept of interest rate swap. sir dec'14 question for swaps i cant understand it :S, i watched the videos completely and cant apply the concept of deducting gains on actual borrowing rate to show saving. its going libor -% sir please help :(

If swapping is to save money, then the final interest payable will be the interest they would have paid if they had borrowed themselves, less their share of the saving.

The past papers questions of the current examiner would be great indeed. Since when there is the new examiner? I think there are couple of new articles (no dates are given on acca web). Which ones you find most important? And from the old ones? What would you advise to start from now? I did some learning for December 2013 sitting and few hours in March, but so far I focused on P5. Since it is going quite well I decided to take P4 as well. Thank you for your support:)

Lectures going through Question 1 of each of the last three papers have already been uploaded. The current examiner took over in 2010. All of the articles on the ACCA website are worth reading. You should work through the free course notes, watch the free lectures at the same time. Then you should practice every question in your Revision Kit - it is practice that is so vital, and the only real way of learning.

HI Sir , Is their any specific topics that the 50 marks question covers ? (eg) in P7 you have some sort of audit, business or FS risk that will be in the Q1. Or does P4 Q1 can be from any area of the syllabus ? just clarifying in case i missed it on the lectures . Thanks

Q1 can be on any area of the syllabus (and always examines several areas within the same question).

Hi I've printed off the notes to go with the lectures - my notes for CH8 is on the valuation of debt finance & the Macauley duration but the lectures on chapter 8 are for portfolio theory - is there a lecture on the Macaulay duration? Thanks

Sorry - the chapter numbers for the lectures have gone wrong and I will have it corrected (although the names of the lectures are correct for the chapters :-) ) No - there is no lecture yet on the Macauley duration. However what is written in the Lecture Notes should make sense. Also, I have uploaded lectures working through Question 1 of the June 2014 exam and part (c) of the question has the Macauley duration and the modified duration.

Thank u ????

You are welcome :-)

Lol don't know why ???? appeared! Sorry :)

No problem :-)

Can u please share the link of ur lecture on q1 DEC 14. ?

It is linked from the main P4 page - revision! https://opentuition.com/acca/afm/afm-revision-lectures/

hi, do we have any mock questions?

If you are asking if we provide mock exams, then the answer is no - we do not provide mocks. (You should have some at the back of your Revision Kit however).

Hi John, First of all thank you for all the lectures and matterials for P4. They are extremely helpful! I have a quick question on the APV method. At what rate should we discout the tax shield: risk free or cost of debt? I have seen solutions where both of thr rates were applied and do not understand how we decide on the rate. Thank you! Yulia

There are arguments for both and the examiner always gives full marks whichever of the two rates that you use (even though obviously they give different final answers). (Some argue that the tax saving is risk free - so use the risk-free rate; others would argue that the tax saying has the same risk as the return on debt - so use the return on debt :-) )