*** P7 June 2013 Exam was.. Post your comments ***

dear all,
can anybody help me out on the feedback the Way i approached the exam.. in q1 a i did analytical proceedures and went on to disscuss profitabilty, liquidity, ias 38 issues, opening balances, control defficiency. i went onto disscuss ias 36 since economuc conditioner were worstning but i After doing the exam i realized instead of wtiting assets to be impaired i wrote inventory , but the effect of impairment of understated profit i mentioned it corrwctly.. i hope examiner lenient on this…
in b part i wrote that the due dillegence is allowable but the auditor should not b the principle advisor and they should not comment on figures other then audit report… i had to rush for other questions hence i stopped and move forward.
q5 a) … the first part i did materiality , disscussed 37 and effect on audit report….
b) i did said subsequent events . calculated materiality , profit impact and openion effect.
c) chaiman statement disscussed inconsistency, should state in other matter paragraph…but here i realized that i wrote auditor should audit b/c it was so time pressured the words did not come to my mind… i cannot recall correctly but i wrote that the auditor should modify his openion bevause i was rushing ad i can go to other questions… i hope examiner takes the time effect marking..
q4) part a did the duty of care stuff and justified this to the scenario..
b) disscussed that fair value disscussion and accounting issues…did wrote hedging item and hedging instrument issues … subjectivity issues …
q2) i realized that i had 20 mins and had to complete this 25marks, so i rushes and wrote in part a that disscussion with cliënts by juniors is unproffesional, payables and dffererd taz complicated ares, setting evidemce testing in advance not appropriate etc etc .. linked Isqc 1 where possoble.. for the part b) i rushed as i only had 7 minutes .. wrote matters to condider, identify fraud and rrport… for the planning part just waffled that how long fraud is talking place, the quontum of fraud etc etc.. these were all One liners as i had no time …

can U comment as to i have done sufficient to get 50?? m.really scared.;( .. praying to god and will welcome ur comments..

Overall paper was ok.
Didn’t think forensic was gonna come out again! Didnt attempt the whole 12 marks question 🙁
Very slim chance of passing 🙁

This was a resit for me, I think this time was much easier but a bit time pressured though.

So many easy giveaway marks! Loved the first part of question 2 regarding the quality control. Soooo blatant! Was very similar to a question in the revision kit!

Question 5 I struggled a little – can anyone tell me if I answered correctly? For each of the three scenarios I spoke about the materiality and what transactions needed done to correct and also what the audit opinion would be, and for part ii said what opinion would be if uncorrected. It didn’t ask for an opinion, just impact on audit report so just want to know if anyone else answered like this??

Dear All,

Please take time out to partake from the survey, it just might help.

ACCA welcomes your feedback on the exams that you took at the June 2013 session. The feedback you give will be considered by the Global Exam Review Board. The Board meets to review the questions, answers and marking schemes after the last exam paper has been sat at each exam session. This ensures that the papers are a fair and reasonable test and is one of the final stages in the quality assurance process before they are marked and the results are finalised.

We would be most grateful if you could take the time to complete the survey ( https://acca-info.com/47A-1K5FY-A61ST-MI7SD-0/c.aspx ).

The survey closes on 17 June 2013, 12.30 pm (BST). The survey will take around 15 minutes of your time.

All the best!

Found the exam fair,save for time and my handwriting when wild. Hoping for the 50 mark