*** P6 June 2011 Exam was … Post your comments here and vote in Instant Poll ***

I think that it was quite fair in comparison with some previous exams. From the options I have done questions 4 and 5. 4 was straightforward and the first part of 5 was related to an article from the examiner that I read yesterday concerning trading losses when the purchaser only acquires the trade and the assets.
I expected much worse.

@ursweety77 said:
tooo lenghtyy

It’s ALWAYS an unfair paper. Did it twice and dropped it. Dont believe its ever well written for students to be able to understand the requirements fully. The examiner needs to simply the requirements as it does not do any justice to sutdents who study hard to make a fair attempt at this paper.

Yes, absolutely unfair. I was pretty confident in all the questions in the Kit, I almost loved P6, and what came? Where was everything that we have studied so hard?, Instead of this – some vague requirement – both questions 1,2. This paper wasnt desinged to be passed from somebody who has studied hard and who has expected to apply the knowledge..Make me think – what’s the point in studying at all.. P6 is enough volume paper, so should be made to be fair ..

i think P6 is about what you know and not how much you know…… it a lottery basically which i hope to win , lol

The first part of Q2 was very similar to Q1a Dec’08

i think it was unfair paper… because in just three hours how can a normal student can attempt such paper… the ACCA should review its exam procedures… I even know people who had in depth knowledge of UK tax… but such a lengthy paper make them uncomfortable and they are expecting failure just because of the type of paper… you should make paper hard… but it should be at least expected to be completed within three hours… you should consider normal student as well… not just consider genius students… i think bonus marks should be given to all students…. exams should be comfortable not pressure taking…

I would have never believed that I would be defending the ACCA after all what I have suffered but this is a Professional Qualification and apart from the knowledge you must be able to think/work under pressure. Basically, have a good knowledge, know what you are doing and do it quick.
On the other hand I think that the exams should not have all those tricky things put in the middle of sentences or ideas that could only go out from the examiner’s mind and that when you look at the answer you say “oh…yes… maybe that’s a way to see it”. But if we take some of the questions in details some answers are not logical at all or even completely wrong.
Sometimes I have the feeling that not even the examiner knows what he/she is asking.

I think it was unfair and very complicated paper. Being employed by an international company, I deal with tax issues at work and enjoy doing it and never get borred. I also enjoyed studying it. Some of the challenges I face at work were answered during my studies.

However, the exam was a different story…really hard to understand the question. if you dont know what it is asking you, you can’t start reading the body and thus takes your time. I came out of the centre feeling stressed…and hardly slept thinking about it. After all that hard work that is how I get repaid!

Was it me or was there very little actual tax calculations? In question 1 most of my time was working out how many shares to give rather than the CGT part of it.

Q2 had no idea how they got their CT liability and was weary I was running over time so just ignored that bit.

Q4 can’t really remember it

Q5 was a bit funny in terms of how vague the requirement about transfer pricing was. Wasn’t really sure what he exactly wanted from me.

All in all, not many calculations and some vague requirements!

I donot understand why they have to make the paper too difficult and time pressured as well, they have to understand that this are professional exams, majority of student are working, having study the whole study text and rev. kit student should be able to pass the exam, however they examine topics not in the ‘Approved’study text or set question that are too time pressured. Majority of the time if student have another extra minute they will actually think properly and answer the questions correctly

It can be very fraustrating knowing that you can still do more but there is no enough time.
And its definately not thesame thing as managing your time in the real world, this is just a deliberate act to purposely catch student out, and that is why people are switching to other accounting bodies this days as they are more realistic and understanding

@somewherelse said:
I found the paper was ok although I do agree that some requirements were a bit vague. The tricky thing with ACCA exams is that you are under time pressure. I guess if we were to do this paper at home we will spot a lot more knowledge point than in the exam.

I listened to all p6 lectures on OT so massive thank you for OT and the tutor. She stressed in her lectures that when unsure, state your assumptions, spell out what you think it is related to pick up extra marks. She also said that this examiner liked conditions. So I learned conditions of key areas and stated what I assumed in the exam when I thought it was vague.

Q1 I did a brief calculation in the daughter’s income, after tax etc. Then move on from that to additional income. I am sure I have made mistakes in that calculation, but many marks are in methods and approaches, so fingers crossed that I have picked up more than 50%. I used Furnished Holiday Home, and ‘rent a room’ in calculation.

The dividends and capital gain bit, I assumed that 4% was to calculate how many shares to generate the income she needed, and capital of a quarter bit was for if she sells to share in exchange for money??? I might be completely wrong here :-s

Partial exempt VAT was ok. The difference between an overseas branch and subsidiary was okish.

One thing to mention was that I stuck strictly to my time allocation. 1.8 minute for each mark. And when I got to nearly time, I scanned it through to pick up hopefully easier marks and moved on, i.e. transfer pricing, and tax shield for lease payments etc.
And I very quickly did most of the cap gain calculations in Q4?? The transfer of property, and the disposal of loans and shares. As I did this in the last 20 minutes in the exams, I probably have missed some relief which under normal circumstances I would have been able to.

I didn’t find the paper easy at all so fingers crossed for a pass!!!

And all the best with other papers guys!

I took the 4% to calculate dividends paid on the total shareholding, then to find out how much the daughter needed I did the dividend income required/dividend on total shareholding x total shareholding. Used the 25% to calculate the cost when working out CGT payable by the mum.

NO idea if that’s right but I was getting round numbers which I thought was reassuring(!) completely forgot about rent a room relief and I have no idea what a tax shield for leases are..!

oh dear

i think the paper was mainly the game of handling time pressure!! too much was asked in too less time, esp in q1, which caused panic and evry1 messd it up!

i 2 spent 1hour 15 minx on q1 and felt panic, forgot all conditions of releifs!

bt atemptd all 100 marx, so i think therz a fair chance of passing!

but apart frm few parts, i dnt think the whole paper was VERY difficult. it was somewhat similar to the past papers. and if people will solve this paper in home, thy will find it very easy! the main issue was to complete it in 3 hourz!!