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how was the exams I was sick so I could not come
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again and again, its totally about time management..
It was just like predicted, sad cos I didint practice Due Diligence much, but did my best. Hoping to pass.
Attempted around 91 marksi can’t rememeber if i answerd all parts of question no 1 can you provide me the parts wirh number
a- was ROMM markes?
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the worst part was q2 due deligence
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question 2 was shock
Q2 gave me the shock of life…good thing I guessed ..which turned out to b mostly correct :/ hoping for a pass 🙂
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Due diligence : additional info required :
cash flow, statement of financial position, culture of org, ratios : P/E ratio, liquidity. gearing ratio ; market share, reputation etc
Any1 did the same ???
Pff 50 -50 chance of passing 🙁 hoping for the best though 🙁
It was difficult, my second attempt and I must say it was worse than my first attempt. It will be real shock for me to even get around previous attempt marks. Although still pray that I get by chance 50.
Best of Luck to everyone else.
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benefits and reporting part was so easy butt part b of the question is somthing shocking
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Question 2 was difficult. Will take paper again
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benefits and reporting part was so easy butt part b of the question was somthing shocking
Went through some tough moments! I have written to my best knowledge, but the examiner always has her way of correcting papers!
Q.1 (a) Risk of Material misstatements in group .. with issues of acquisition of a forieg subisidiary during the year (intra group balance and due dilligence and forex also tested), and a disposal during the year.. (12 marks)
(b) further information needed (4 marks)
(c) audt proceudres on diposal. (8 marks)
(d) ethical issue relating to fee of audit and using the work of internal audit. (7marks)
professional marks =4
total marks = 35
Q.2 (a) benefits of due diligence (6 marks)
(b) matters to be considered for due dilligence (16 marks)
(c) difference between audit report and due diiligence report (3 marks)
total = 25 marksI didn’t think it was an easy paper. you can see question one require a lot of time to understand what is going on with the disposal + acquisition of the sub
Q2 financial statement intrepretion took a lot of time, require a lot of thoughts on the financing cost
I thought it was really time pressured!! I raced through question 4 and 5!
Does anyone remember what they said for the audit opinion in q5? I’m not sure if it should have been modified as it was
prepared as going concern…the new product will not be developed until next year and the bank is about to retract the loan?? Or would letters of rep from the bank and management…emphasis of matter and speaking at shareholders meeting be enough?Q 2b was awful…did anyone else say extra info could include bank statements, employee contracts, contract with venture capitalists??
For B point 1 I said a provision for the cost of the maintenance may
Not be included….the revenue may have been recognised immediately without a corresponding provision.What was going on in point 2 & 3? Competitors getting info?
I spent far to long on Q1!
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ACCA really needs to figure out whether it wants to test the knowledge of the students or how fast they can write. Way too much to first decipher, and then write about in a cohesive manner. Do examiners even like reading incoherent answers?! Wouldn’t they prefer reading something well thought out and presented? I knew stuff but I couldn’t write it because my time management is terrible, but I can bet my knowledge is at par with the person who is going to get the highest marks in the paper. And me? I might barely scrape through…or fail. Last paper. And such a terrible one.
Also, 25 marks relating to due diligence? Wow. Here’s hoping common sense worked. Didn’t even have time to address my strength areas in the options questions with regards ethical and professional issues… :'(
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I think only Question 4 was reasonable.
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