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@student1982 said:
What did people put for the matters to be considered for Q1 Part a (i think…)materiality , risk , expert was employed by entity he was newly qualified so might not have the required level of experience to carry out complex estimations…his objectivity and competence should be assessed , management bias , estimation inherently risky due to the subjectivity involves and accounting treatment in IAS 11
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First thing i did in the paper when it read Respond to the Email, I located the email and underline the requirements.
e.g. in Q1 (i) I underline the following words
identify and explain, maters, financial statement risks, audit procedures. Then dont need to go through all other crap.HOW THE HELL CAN ANYBODY COMPLETE 4 QUESTIONS IN THIS PAPER IN 3 HOURS. THIS IS RIDICULOUS. I ONLY MANAGED 2 1/4.
quite disappointed with this paper. Confused! Was the examiner testing my time management or my knowledge :((. not enough time to think in the context and worst of all to writing enough.
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Very difficult paper and time was the issue. There were a lot of accounting issues to deal with in both Q1 & 2. Section B was easier but the time constraints for section A caused some problems. This is my last paper so can only hope now – there’s nothing we can do about it now. Best of luck guys – this was definitely one of the toughest papers I’ve sat!
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it was quite easy but extreme lengthy. attempted 95 % marks… only hope on Allah to pass as there z 55:45 ratio for me to pass.. Best ov luck to everyone
The paper seemed extremely lengthy!!!…..Q1 took almost one and and a hlaf hour….left atleast 15 marks….and of 85 marks what i wrote were all long stories!!!:(
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I found it was very lenthy but managed to answer 100% with rubbish handwritting.
I believe q3 & q4 was gift from examiner. But she was evil on q1.
Goodluck to all
very unexpected paper i wasted around 90 minutes on my 1st question excluding that reading and planing time after this i straight away went to the q5 and spend 20 mints and then do Q2 AND ATLAST q4 ON DUE DILIGENCE THANK GOD I MANAGED TO ATTEMP ALL THE PARTS
q4 WAS THE EASIST QUESTION IN THE WHOLE PAPER..
Inshallah will manage to pass and bet of luck to all of u …what the hell was this? this is the first time i attempted this paper and i ve had NO probs with other xams whatsoever but what in world was this?? WHAT WAS THIS?? was is the ANTI CHRIST i ve been hearing about?
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this was not a p7 paper it was basically a paper of P2…financial statement risk Q2 going concern assessment..Q 3 ethics…oahahah…what a joke…but i was very happy to see the papers as they were only less than 20 marks for procedures..
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paper was extremely lengthy,too much concentration on Q1 & Q2 (due to the length) were allow me just half an hour too attempt section B which was scoring section that is why i lost 15 to 16 marks,may allah will succeed me and all of you.
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I started with q1 and completed in 2 hrs. in remaining 1 hour i completed other 3 questions.
I attempted all 4 q’s, but made alot mistakes. i attempted q3 and 5 in optional.- Topics: 0
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well i was expecting very hard paper, but i think the paper was very str8fwd!! if u had an idea from the past papers abt the answering technique, thn i dnt think there shud hav been any prblm in anwring!
the main issue was time managmnt! i spent 1.25 hourz in q1, so had to summarize answer in q2 and spent 45 minx there, and in the end spent half hour each on q3,5! I hope i will pass! paper went alot better thn i expected 🙂my comments with regards to this paper are bit similar as the comment made by above by rmontilva , i was shoked reading that comment as is exactly what i was thinking,
time pressured was an issue (I spent too much time in Q1 and Q2) and had only 30 mins left for Q3 and Q5 which both partially attempted . and the main thing was that Q3 was not dificult but as soon as i started it half away thorugh I run out of time, hopefully i passed and do not have to go back in Dec to resit it, let see,
Best of luck to all of you who took the exam today!!
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and btw, this is the most FINAL PROFESSIONAL paper of acca!! u cant expect it to be a piece of cake like f3, which u can do it with perfection!! it has to be difficult!!
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The change of format was shocking! Took me 15 mins to figure out what was going on.
Q2 is a totally disaster. Did pratice the WHOLE kaplan exam kit and this type of question is just no there!
Q1 is too long. took 1.5hr to complete which leaves little time for the rest.
Managed to complete the whole paper, but did poorly in Q2.
The biggest disaster across my exam history!- Topics: 0
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I didnt expect such in p7, this is a professional paper where knowledge should be tested not making trouble to student by Testing your narrative skills . It was an experiment on us.
What was Question no.1 , is that called professional or LISA WEAVE’S REALISTIC? Both compulsory question has scattered data and long long story that only long wording perplexed the students. Student don’t have all the time in the world in 3 hour exam to Understand examiner REALISTIC scenario. I am totally against such kind of paper pattern as its not knowledge or skill testing.
Both Question of Section A were RESPONSE to EMAIL, strangely SAD.
I don’t expect good. And i will report this in my feed back to ACCA
SECTION A was a complete Disaster no doubt.- Topics: 1
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Disaster paper!!
Can anyone pls remind me the points format of q1,q2,… etc!!
Got really so confused!!- Topics: 0
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My dear friends don’t worry….if u all get a pass than whose gonna fail 😀 34%-37% PASS. AND MAJORITY ALWAYZ GET A FAIL 🙁
Time-pressure exam.. it would be better to organise such exams on computers. I type much faster than I write=)
how did one go about answering Q2(a) the one about review of cashflow forecasts.
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