*** P5 June 2013 Exam was.. Post your comments ***

Hi guys,
Found the paper unfair…I had studied 95% of the whole paper but found it very time pressured….
For those of you who are worried about not having put the Qs they have done at the front of the paper don’t worry. I have never done that before (came aware about that right now) and have always passed… Good luck all and may God help us!
Amarain

When l have read reqirements i thought that do easely At least Q1 and Q3 but it seems that main objective of examiner not to check our knowkedge and application of it but he wants just confuse the sudents writing such terrible cases which difficult to understand and need a lot of time just understand it. Such Qs demotivating srudents, they must to be achievable! My openion is examiner doing this delibaratly to ensure inflow of fees for second attempt for this exam. Can any body address this to Acca?,!

<cite> @TERRENCE said:</cite>
What were the other topics

<cite> @TERRENCE said:</cite>
What were the other topics

me the same the third victim

Cannot comprehend the thought of waiting for another six months!! ACCA should seriously consider giving us the opportunity to sit for exams after 3 months , six months is too long , painful and counterproductive! ..Examiner should consider the time, money and effort we put in every semester before writing vague questions like that which test our reading and writing speed and ability to catch his trap in requirement rather measuring our actual performance!

<cite> @nimrah said:</cite>
can any1 tell me about venture capitalists risk appetite>

Hi – I answered this bit. There was an article on Business Angels in Student accountant. I’m not sure whether it was directed at P4 or P5. They are similar if not the same as Venture Capitalists. Their risk appetite tends to be more averse as their portfolio is limited. As they tend to have hands on in the companies they support financially, they do not have so many. Also they can take some time to decide to invest in a company which is usually in the fast growth “rising star”, sector. They will investigate the company, see how well they are run, identify their managers attitude to hard work and then give their expertise in areas where the managers are struggling like marketing or getting them contacts with the right people. I’m hoping that was the right answer and the right reasoning to their attitude to risk. Hope that helps. Trouble is if you take into account all the articles in SA alone, as well as reading a good paper, The Economist and the text books, it would be difficult to take everything in. However, sometimes common sense may prevail to get a point or two and it was only five marks in all for that bit.

I sat P4 as well and had concentrated on that one – so think I probably didn’t too well on P5 – never felt so under prepared. Hopefully will have passed P4 and re-sit P5 in December, fingers crossed

lmighty P5, just trusting God

Q1 was ok, quite many different aspects of performance management in one question…which I guess was expected… I did Q1 first and noticed it was taking too much time, so rushed last part…just did conclusion part of report hoping to get professional marks for layout 😉
Q2 ABC very confusing, but reading it slowly helped, although it took much more time than expected. Got same prices as others here… around 8 and 108 based on current system. ABC costing turned out bit different for me, around 12 for standard dish and around 86-88 for specialised dishes (can’t rememeber exactly). Analysis showed that complains form a big part of costs, so quality control rolled out naturally in part b…wrote about prevention and appraisal cost and internal failure costs, etc.
O4 Once done with Q2 there was literally no time left for proper attempt at Q4. I read Q4 in 15 mins given; hoping my brain would be generating some ideas on it…Reading Q3 at that point made no sense so went ahead with Q4. I just rushed through looking if there is an external market for products they making, would standard costs be better than actual costs. Also made some reasoning behind FD proposal on changes, but nothing on part c…mmm…my first attempt at P5, but really hope my effort will score enough.

venture capitalists risk appetite is risk seeking as always. venture capital has high interest rates to the capital invested. in question 3

Let me share my experience with you guys, which might help calm some of you people down.

Candidates here who have attempted only 80% of the paper, and attempted it well, will PASS. But when i say attempted it, it means you have tailored you’re answer to the scenario in its totality.

I can admit to people here, that after the June 2012 P5 exam, i was here on the P5 forum and was whining about how hard & time pressured the paper was. I had only attempted 75% of the paper. I was quite sure about the first question of 50 marks, but wasn’t so much about the 2nd question of 25 marks, which I had just rushed through due to me running short of time. However, a good thing, that i did while rushing was that I did not fill my answer with unrequired gibberish and just wrote whatever i could grasp from the scenario. I did not even attempt the 3rd question.

And I passed with a 54. Even though it was just a pass, in hindsight i was more than relieved with this pass. I guess you people should try and relax a bit. Its all in your head right now, and most of you guys will get through provided you wrote the right things.

Good luck guys 🙂

<cite>@boomboom said:</cite>
I did the same, forgot to mark which questions I did due to time pressure!!

Anyone know what happens in these circumstances?

me too! but i think it’s ok

<cite>@tajinder2222 said:</cite>
echo what the rest of you say….way too much time pressure…however im sure they take this into account when marking…they cant and dont expect model answers as per revision kits and past papers….they are looking for main points to be explained so don’d worry so much if on some u scribbled down a few lines and dont think u have scored highly enough…remember we only need 50 to pass….

people feeling too negative about their efforts…its not the end of world if you fail…in the resit you will have experience and much better knowledge depth as you will have studied p5 for around 4 months in total…maybe more for some…i thought P2 was tough when i did it in december and everyone said it was the hardest exam….NO CHANCE…the option papers regardless of which one you pick are the toughest…dont be too hard on yourselves…this is last hurdle for most of us…so learn where u went wrong and do better in december…i think another problem with acca is there is no resit period which is a shame…

thoughts on the questions….i didnt even look at number 3 and it seems to have got some bad press here already so did well to avoid…

1) first parts was a gift f5 work, second part said evaluate the performance report itself not the performance (as some ppl seem to have done) and mention something on the metrics, bsc was a gift as scenario was packed with info, the problems threw me with regards to implementing, and the 14 marker was good too but ran out of time a bit and went of on a tangent…mentioned as much theory and related what i could….the motivational part at the start of last part was strange…

reading time for the scenarios on options was lengthy!!!! too much to understand….

2) abc and abm…the first part was standard absorbtion costing…the abc had been done for you…u just had to compare them…second part was tricky…wrote a costs of quality, tqm, six sigma…bits and pieces…time was of the essence….might be completely wrong

4) transfer pricing…did what i could on each part…wrote about what was wrong with their transfer price for part a, part b was a gift just do the p and l again with vc and part 3 was similar…but didnt write enough….

all in all a tough exam (rather than actual todays paper) i think…i dont think the paper was particularly difficult….so tricky parts in the options but it cant all be easy….it was far more written compared to all others…no eva, npv, mirr, roi, ri calculations and no general data calculations as we have been used too…

I do think you will get a PASS!
you win on your attitute
thank you for your representation:)

Hi there,

did anyone do P5 in Watford? Not very professional place, very noisy – heard music from outside, one of the clock kept falling from the wall, banging noise during the whole exam, someone next to me was sniffling the whole time. After one hour I completely lost it and stopped concentrating. I have complained but not sure if there is any point. Has anyone had the same experience?
Thanks
Monika

The number one aspect was ok. what got me confused was the ABC. I couldn’t use the figures provided to calculate anything different from what has been calculated. think we don’t need to do any calculation again, its just confusing. But i know i will pass.