APM*** P5 December 2012 Exam *** Instant Poll and comments***

Disaster, too lengthy

Paper was ok. I wasted some time calculating ratios that had been given in question one but thanks be to God I picked up the mistake quickly. I pray for a simple pass. Thanks opentuition for all the resources that you freely avail to us!

i agree, paper was fair, but my prepairation wasn't enaugh. i prayer for everyone to pass this time.

not a difficult one. i finished first 4 questions, and got several mins to have a double check... my poor handwriting...

I ran out of time. Had to write only part answers.

Thought it was hard.

fair... infact i would say an easy paper which i was not expecting, pray for every one to get through this one.

No specific models or technique tested, however focus on understanding of case...

Found the paper very hard.. Gave it my all.. Wrote whatever came to my mind.. Question 3 and 5 in particular were very difficult.. Took me a few minutes to decide which one to go for.. Hopefully I've done enough to pass.. Good luck everyone.

paper was v time constrained missed few parts ..QS 1 had too much irrelevant info in scenerio

fair, bt found myself doing the things tht the board didn't want hear...things like increase in the ratios and went on explaining the causes of the increase and fall. Think I messed up!!

I think I messed up the question on Eva, I deducted the r and d costs etc from nopat instead of adding back which is so annoying as I knew that. Got a negative 17 for the Eva which is totally wrong, will I lose marks for explanation based on my figure?

Fair paper but lengthy scenarios especially q1 and 2
Questions are mainly scenario related with no specific model
Absence of current developments and models
Looking for marginal pass, Hope every one got through

Q1. Little help from examinator. All ratios have been calculated in script. Division performance evaluation
Q2. Budgeting. Incremental, Rolling, Activity Based, Beyond Budgeting.
Q3. EVA.
Q4. Business failure. Argenti
Q5. Related to spec theory never seen before.

me (45...55)

Got same as well negative EVA
Is that right?

In q1 (i) i compared the divisions among each other. Hope that is ok. Could not think what else to write if board does not wants to hear much detailes...

@saidco2010 said:
Got same as well negative EVA
Is that right?

me 2

@ saidco2010 : yes my EVA was also negative. But paper was a disaster. I attempted Sec B first and did Q3 and Q4. Q1 and Q2 scenarios were too lengthy. I left 18 marks and couldn't complete the paper on time :( hope I get pass Inshallah

It is not hard (as well as p5 is rather easy in comparison with the other professional papers). Still the main problem as always is time pressure and to remember to pick up easy marks. I hope to get above 50.

sm1 tell me how they attacked qtn1 i. If I briefly talked abt the movements in the ratios and then explained the cause, wd I get marks or?

What can I say more than Thanks to John Moffat.. at last I can understand what Alex Watt wants.. It is more about reasoning.. I was happy when I saw rolling budget question and instantly John Moffat voice came out out of now where in my mind...hehe.. Alhamdulillah

Hope to secure pass with lovely color in this sitting for P5

hey guys i thought the paper was not alighed with the study material - no business model at all -

Question 1 - I evaluated the performance based on liquidity, gearing, investment and pofitability - anyone done tge same?

Question 3 i got a negative EVA -15 ish

Question 2 - mentioned alot of rubbish and wasnt sure how to calculate Rolling budget - Are we suppose to use the data from Q1 actual and then multiply revenue and variable cost by 1.03 to get the busget for P2,P3, and P4 - also does fix cost change?
What recomendation did u guys pit for F and S & H?

Question 4- thought the corporate failure question was ok - all the symtoms that i found were mostly mistakes or Symptoms of failue

Such a wierd paper!!

My EVA was 67 so I guess I lost some marks there!!

But overall, it was a decent paper.

For question 2, revenue times by 1.03, admin costs stayed constant through the year. I wasnt sure how to calculate the variable aspects so just took an average of th eprevious 4 quarters for the next quarter?!?

I got a positive EVA of around 30 and for part b) I had a ROCE of 5.8% so it passed the stipulation.

I got positive EVA of around 7m. What was WACC? I got 9.4%

i got WACC as 8.45%

Question 1, ratios were given I think u need to tell Wots goin on in organisation bit confusing...

question 2 rolling budget war really unexpected..the chapter buget altogether was unexpected!!

Q1 had the info but I added some bits regarding controllable ROI and uncontrollable ROI due to head office costs. Overall, I felt ok after leaving the exam hall but now thinking about it, I don't think I did enough.

@ahoatran said:
Q1 had the info but I added some bits regarding controllable ROI and uncontrollable ROI due to head office costs. Overall, I felt ok after leaving the exam hall but now thinking about it, I don't think I did enough.

I think div performance to be based on controllable costs. So, HO must be excluded

For me it was ok, but I ran out of time, spent too much on 1st question, then in a hurry messed up the rest. Don't think to pass.....