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@jigsaw1992 said:
Even 2b was ver vague, they didn’t ask any precise question.
even question 1b asked “competitive rivalry” instead of competitive environment. Its like a booby trap for students who used five forces. They can just claim that barriers to entry and bargaining powers weren’t necessary.
this is all assumptions tho and I seriously hope I’m so wrong.I think 5 forces was fine to use for Q1 a) ii because as much as this model is used by an outsider to evaluate how attractive an industry is to enter, it can also used to analyse competition within an industry.
Barriers to entry was relevant though as a new comer would have to stump up $100m to pay to the outgoing licence holder, thereby making it costly for a prospective new comer to bid for a licence. Also the fact that only 4 licences existed meant barriers to entry were already high, although there was a threat that licences would increased to 6 and therefore 6 providers competing for same amount of customers. So there was quite a lot to say about barriers to entry.
Also, the Gov was the supplier of the license and was trying to ensure that no licence holder dominated the market, therefore incumbents had to compete in other ways and thus giving the buyer – i.e the consumer, negotiating power in terms getting a better package deal in order to remain with that provider especially since the regulator was intent on making switching providers even easier.
The only one of the forces that I thought wasn’t really relevant was the threat of substitutes – although I did say I though this would be landlines or not having a phone at all, but the evidence suggested that the nation viewed having a mobile phone as an essential, and therefore no threat was posed by these alternatives.
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i could not figure the last part of Q1 so left it…….:(
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Even I was well prepared and confident that I will pass but q1 b took alot of time and it was very vague and wasn’t clear enough what actually examiner wanted us to do; also this exam is really different from previous sittings with more management accounting.looks like we are back to F5 again 😉
@411seeker said:
I agree. The cases were far too long and left little time to write the answer that I wanted to give.
I have a structure to answer my questions and was unable to apply that because of the limit in time.
Question 1, part b was very vague.hi Ravi, are u the same Ravi in our P1 group some time back if yes do you remember me?
It would be quite easy for me to blame ACCA for wanting to fail me since they are in the business of making money and the longer i take to pass (the more resits) the more money they make.
but as i have said previously on these forums others have passed so I can too. I look at what i did wrong and learn from my mistakes:
With the law 48% first sitting – did not state the law then apply then then conclude – 64% next sitting – was that a perfect score heck no but i passed
With F5 – 44 first sitting – Mixed up my variances and did not get enough practice – frankly all that i that i thought i knew when sat it the first time was incomplete it took the second sitting for me to even understand some of the concepts clearly.Passed second sitting
F8 48% first sitting – can i tell you i came out of this exam thinking i did a great job answered all the questions correctly could sing Gromit’s lectures to you. but i failed to read one technical article that tells you how to answer the questions correctly- why you may have the procedure correct but how you present it to the marker is incorrect based on your word choice. and putting pen to paper makes a lot of difference in revision.
All the others i passed on the first sitting as by there nature they require a lot of practice – F6/F7/F9?P2.
Dec 2012 – F4 – Failed – F5 failed
June 2013 – F4 – Pass – F5 Pass – F9 – Pass
Dec 2013 – F7 – Pass – F8 – Fail
June 2014 – F6- Pass – F8 Pass
Dec 2014 – P2 – PassNow this a P3 forum so most of you have been there done that. I mean you wouldn’t be sitting P3 if you have not had any experience sitting other ACCA exams.
What have you learnt –
The markers mark hard
Each paper has there own technique so practice writing your answers
Learn the entire syllabus – the one you miss could make a difference between pass n fail
The technical articles are a must
use the resources available to you – I self study so my main tuition provider is OT but i still go to youtube and look at postings for the paper i’m doing (hearing the same topic explained by someone else may make a difference)
LSBF 10 steps to passing paper ** also helps.
Reading the post on OT forums you learn what works for some and it may work for you.In the last two sitting its been hard motivating myself to study with all that is going i just want the studying to be over. i cant imagine what it would be like stuck redoing papers.
The fact that i know i didn’t put my all into preparing for P3 have me fearing that i will have to sit it come Dec and not because i didn’t know all the models and all that theory because i have that lock – just fear i didn’t apply my knowledge the way i should.sorry for the long post but had to get it out and with all the negative that’s on here right now just don’t want all to look at it that way. the positive responses and ideas ive gotten from these forums in past, i’m just paying it forward so that someone else attempting these papers don’t feel dejected
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P3 examiner is IT (Information Technology) consultant; It was really surprising when I found out someone IT specialist writing exams for accountants no wonder that’s why case studies are long
Paper was not bad..the question of 3 Generic Strategy was quite straightforward and biggest gift is question on project management 14 marks only to identify cost and benefits..ques 1 first part i used PESTEL , Porter Five Forces and OT and part b i believe we should have used expected value and cost benefit analysis for the overall financial part and assess the advantages on also a non-financial perspective..i gues it’s my interpretation..overall for me easy paper
There was a little tip for part1b Do not use decision tree, which meant use expected value that’s why probabilities was given
Q.1 part 3 was a disaster. too confusing with that short time. 20 marks were too many for such a thing. it seemed examiner doesn’t want students to pass by giving so much of marks to decision tree. i hope i get pass in the results
@vikramudassi said:
Q.1 part 3 was a disaster. too confusing with that short time. 20 marks were too many for such a thing. it seemed examiner doesn’t want students to pass by giving so much of marks to decision tree. i hope i get pass in the resultsThe question said a decision tree wasn’t required.
Also, there were 4 scenarios to cover, so maybe 4-5 marks each and the remainder for a conclusion.
hey guys, please respond to the ACCA survey with regards exam feedback. If it is done collectively I hope on the resit they will reconsider topics to be examined and balancing the paper for questions to be answered marks and time allocated for questions to be answered.
Thank you
@thomps91
You are correct there was loss of $16M from the expected value. now i feel confident that i did it correct.I thought it was little book knowledge and a lot of application. Shame as I had learnt all the benefits for Q3.
Q1, wow! It wasn’t hard if you had a day to write an answer but in 1 1/2 hours it was nigh on impossible. My time management sucked but managed to do questions 2 and 3 in under 1 hour. I just hope they can read my writing as I could hardly hold a pen by the end.
Still, I am not unhappy with how I did and will be disappointed if I don’t pass.
Q
@eshwan23 said:
There was a little tip for part1b Do not use decision tree, which meant use expected value that’s why probabilities was giventhe examiner didn’t explicitly ask for expected values. He asked for advantages.
calculating the expected values and comparing which one is higher is part of stating the advantages.
what I’m saying is decision trees and npv are disallowed but any other way of mentioning the advantages will be considered like stating the cost savings, potential costs rising, initial cost investments etc and comparing total costs of each phenomenon under the 4 headings. Expected values will still gain marks I think but it wasn’t the definite requirmentq 1 was lengthy and i didn’t use port force in proper way , also the probability was very difficult also q 2 outsourcing
@eshwan23 said:
Paper was not bad..the question of 3 Generic Strategy was quite straightforward and biggest gift is question on project management 14 marks only to identify cost and benefits..I thought the whole of Q3 was very straightforward… a bit too straightforward really since the 14 marks part actually told you the categories – quantifiable, measurable etc – in the question. It’s making me think there was more to it than met the eye.
The exam was time pressured. We could not do all on time provided though I feel it was average
The June paper was particularly hard. I am trying to prepare for the Sept sitting. The Bpp study text is too long considering the time available between now and 10 Sept. I am wondering if the OT P3 videos have the depth to @ least ensure a pass mark in the coming sitting, or if there is a better alternative to study.
this p3 examiner is either not competent in english or is intending for people to fail. In question 2b, he asked “Evalute the claim that all 4 products can be produced more cheaply by the supplier in tanglia and DISCUSS THE ISSUES RAISED BY OUTSOURCING THE PRODUCTION OF YTR’s PRODUCTS IN TINGLIA.
I just checked the official answers from acca website and the answer was the potential problems that might come up during the outsourcing.
“RAISED’ was the key word and from elementary school, a verb in past tense is something that has already occured. In the exam, i for one fell for this trap as i was busy searching in the scenario for issues already raised and just managed to scribble down issues i found to be.why not just ask, discuus the potential issues that might be raised during the outsoursing??.
This is a very time pressurred exam, being explicitly clear and avoiding vague questions should be very imperative to the examiner.
P.S. the requirement was for a hell 15 marks
I sat for the P3 exam last June. At the time of writing, the exam was tough. But now going through the same paper i realise it is unfair to cry too loud that the paper was a non starter. It was tough – true. Like every ACCA exam is tough. Perhaps it was tough under exam conditions, but a well prepared student could have attained at least a 50% mark. We meet again September. Thanks to September.
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