*** P1 June 2013 Exam was.. Post your comments ***

The paper was OK and certainly doable within the 3 hours.
educated guess on the related & correlated risks and opted for q2 & 4 which i though were easy and did those first and q1 completed about 70%.

<cite>@javshahid1 said:</cite>
can anyone explain financial risk? just want to know everything i talked about was of value!

i defined it as an inability to meet cash and short term liability commitments, and talked a bit about working capital management, then fed this into cash situations at the bank plus a few other risks (i think, cant remember the question fully)

I see that the exam paper is now online, does anyone know when the solution becomes available?

Last two technical articles on this subject covered COSO and Environmental reporting. Big hints what will be examined in the future. ER came up in this one and think I got near maximum marks (10) which only left me 40 to get from the rest of the paper.

Did anyone else find it hard to answer the part about refusing the bribe from deontological and consequentialist perspectives?

Surely deontological meant refusing the bribe was wrong no matter the outcome, whereas consequentialist would mean if the outcome was good the end could justify the means. How could you answer both points without contradicting yourself, and in a press statement?!!!

<cite>@javshahid1 said:</cite>
can anyone explain financial risk? just want to know everything i talked about was of value!

As per my cute little and humble opinion, Financial Risk is a risk that can result in a future, unrealised as of yet, financial loss for the Co. It is the Risk that the Co. may NOT be able to meet its financial/economic obligations as they fall due… Well, that’s about all I basically wrote…

If anyone knows, and can tell me please, if my answer was pretty much adequate?

Thanks a lot in advance.

<cite> @pannanikt said:</cite>
There are various possible outcomes, one would be a factory in better place, but the other would be: bribe if once done usually repeats, if you show somebody you are keen to pay you will be forced to do it again and again. It would give the power over the factory in to hands of the foreign official. There was info in scenario the info would leak and it would destroy the reputation, think yourself about other consequences, like contributing to corrupted system

But surely a consequentialist perspective would be that the bribe was ok if it brought a good end result?

I was led to believe that consequestialist theory is that if the final outcome is positive, the means to get there is irrelevant, thus making the bribe almost acceptable…

<cite> @carl29 said:</cite>
i put a bit in where i considered appropriate actions, and described the view from each perspective, deo was wrong as it fails kants first maxim, teleo presented an opportunity for the local community from a utilitarianism perspective, or an opporunity for the co from the egoist. however, i said that bribery goes againt integrity and transparency which was the cos primary concern

ok fair points

but wasn’t that still part of the press release? I just found it hard putting all that in a press release and making it sound like a press release rather than a thesis (how would newspaper readers know what utilitarianism / deontology are??)

I seem to have obviously misinterpreted that requirement and now I worry it has cost me. Very annoying as I know what deontology / teleology are!

to relate scenario was quite difficult

it was question 2 part c i think

difficult paper fro me.

The content seemed okay and I think if you had a good enough command of the syllabus, and if you had: (a) Practiced sufficient questions, and (b) examination technique, you could fair well with this paper. Now applying the statements to myself, I probably fell down on a small mixture of both areas. Not 100% confident that I will get through this time, but whether I do or do not, will try and learn from the whole experience in readiness for Dec 13.

Good luck to all who sat P1.