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My god, what a nightmare, at first I thought the questions seemed ok, I have covered and practiced EVA/RI/ROI etc, plus transfer pricing, balanced scoreboard and BGC but I dont’ understand how it was possible to answer 4 questions in the 3hrs, I didn’t have even time to read the BGC question properly as panic kicked in becuase of lack of time! I was really hopign this was my last exam, looks like I’ll be retaking in December argh!!
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@jenniedawnwilson1 said:
Hi AllWithout going into too much detail, famous last words, my main sticking points were.
Q1- a)straight away i spotted the overhead allocation and couldnt decide whether the figures for the calcs should include them, or act as if they werent there?? i ended up doing two sets of calcs, one lot including them, one lot without. i knew this wasnt ideal, but i thought if i made a call either way it would be wrong!
Also wasnt the whole point in the WACC that there was no share capital, it was just debt, so the wacc was just the the debt (100%x whateva the cost of debt was)?Q1-b) how annoying, i was actually hoping trf pricing would come up, but the way he worded the question was so weird i didnt actually understand what was going on in the scenario (i wrote this on my exam paper).
Q2 & 3- were fine in a sense, but felt 20 marks for basically just talking about a model related to the scenario was too heavily weighted. felt like i was kind of repeating myself a lot.
Q5- i only picked this because when i saw the BCG i panicked, i hadnt looked at this since studying p3! Again annoyingly, I had studied Environmental Management Accounting, it was tipped by the tutor, but it was only when got to this question (in the last 20 mins of the exam) i realised they were talking about 3 different types?? I knew what it was, the advantages, why people would use it, the costs etc. but didnt even know there were 3 types. When i got home and looked in the text book, there were indeed 3 types! Messed that one up then!
Overall I think although ok from the outset, there were a lot of marks on very few areas, obscure areas of the syllabus were tested (apart from q1), and he needs to explain himself better in the questions. I best have passed, cos i cant be bothered sitting this one again!
Guess that was a bit too much detail! OOPS!
Hey, I found your post hilarious and thought provoking at the same time. I didn’t include the arbitrary HQ overheads (I stated this) because they are non relevant costs. However, what was confusing was whether to start the calculation of NOPAT from after tax profits OR from the operating profit. I chose to start from operating profits; added back depreciation and all non relevant costs then calculated tax to arrive at the NOPAT. Well if this were wrong then I would blame the various ACCA study material providers. There isn’t consistency in their approach.
The transfer pricing was very annoying. I didn’t know what the heck to do with the external provider’s price of 200 (I can’t remember the exact figure) althoug I worked out that the transfer price should be greater than the supplying division’s cost but less than the receiving divisions SP less VC.
The BCG was absolute bol locks. I calculated the market growth and market share but couldn’t figure out were the heck in the matrix it went. The could have gone anywhere! It was like game flipping theory. I think I may have left a question unaswered on that part.
There was another EVA question funnily enough. I answered it but I thought there was some crucial info I was missing? Why would he want to bring up EVA again? In the same paper! Clearly a ruse but I didn’t have enough time to figure out where the trip wires lay.
On a whole I think I left like 16 marks unanswered. I feel tuition perhaps could have bridged this gap. I have sat the last 8 papers working in a crappy lanscaping job and without any tutorial help. I will feel very hard done by if I were to fail this paper again (missed out by 3 marks the last time). But the thing is- would the examiner know I were self taught and would he give a damn?
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I felt that the examiner was asking the same things over and over…
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Can someone please tell me briefly what the criteria for transfer pricing are?
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wacko2408 u right dude, we beginin to lose focus. Going for a different option in Dec. This is has gone on for far too long!
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Overall paper was tricky and time pressured. But I hope to pass.
Q1 – lot of easy bits like RI,ROI, EVA, T/F pricing theory (difficult cal.), ERPS theory, report structure etc were the easy bits. Time well spent on these parts.
Q2 – I say lot of repetition and points were mostly picked from the question itself. Good time management here.
Q3 – First part easy, second part need bit of imagination on performance measurement – wasted few minutes thinking but eventually came up with some points while using info. from questions, part three bit confusing but wrote points how to F&Moon will help in improvements which I thought not bad in the end, lot of points to talk about in the questions.
At first instance part 2 and 3 looks dauting but later seems fine.
Q4 – during reading time i thought will do this, but when actually came to this questions was under time pressure and panicked could not able to thing anything. so just left it.
Q5- again at first seems difficult but there was lot of information was given in the questions itself.
part one – about cost which are carbor emmission, water recycling etc.
part two- need to talk about abc, life cycle and input about costing at strategic and enviormental level.
part three – bit tricky but eventually wrote few points in the performance measurement.Oveall I think it was really time pressured and paniky exam, what was required is to keep cool and do what you know instread thinking about what you dont know. Time management I think is the key to pass, do not required high technical competence.
It seems that my self-confidence has reduced over time…After doing P5 paper, I thought that “Wow, it is good…”. However, after reading other friends’ comments and comparing that with my works, i delightfully thought that “I could pass with 60%…”. But now, when ACCA issued questions of Jun 2011, the probability of passing is…I dare not think more!!!
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This paper seemed doable on the outset. But, when it was time to link the scenario with the required model, there were not enough ideas / points to write…
Question 1 took so much of time in tackling the requirements asked in part (a) & (b) that it impacted the time allocated for next three questions, and hence I had to rush through question 3 & 4.
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P5 June 2011 questions been removed from ACCA website. I viewed it yesterday though. Not sure why?
https://www2.accaglobal.com/students/acca/exams/p5/past_papers
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Sorry, can view the June 2011 questions now, system error
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Hi everybody 🙂
firstly, wish good luck to all of us cause we really need it!)))
not for the first time for P-level papers I can not read carefully all the questions within 15 minutes((( so I lost 5 minutes on it(((
i was stuck on transfer pricing in q1 trying to understand what the examiner said… so lost 12 marks and a lot of time for it(((
q2 – not bad but not good, and balanced scorecard is not my favourite)))
q3 – did not attempted because i could not remember these blocks: either they were not in my study text or in my head))
q4 – a present from examiner, but a little bit tricky in last part
q5 – i expected EMA, read the article. a & b parts were ok, but for ? i can’t imagine what I should write for 7 marks.. wrote two sentences.hope for 50 marks:)
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Its was okay.
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It was okay. though mixed up RI & EVA. But BCG, building blocks, balance score card are all topics actively used.
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The questions were way tooooooooo long and there in no way I could have finished even the first two questions let alon all four questions. It is really very disappointing to work (study) so hard and fail not because of lack of knowledge or exam technique but due to unfairly long questions…..
Badly disappointed
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You hit the nail on the head tekte – It really is very disappointing as I am sure by now I must know this subject as well as the examiner but in exam conditions with the questions the way they were asked this sitting was to me beyond passing.
I just hope the examiner reads the comments left and takes them into consideration when setting the marking scripts.- Topics: 0
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too many questions to be attempted and time was limited
q on transfer pricing was difficult- Topics: 0
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Answers look reasonable or so different to what was asked?
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I cant remember what I wrote on the answer sheet! o_0 Lets hope the marker be kind to me. * frustrated after reading the answers*
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