FRPaper F7 Dec 2010 exam was

I was very depressed before coming on to this forum I would just like to thank you all for cheering me up, and my girlfriend also thanks you, nice to know I was not the only one who found it tricky, overall I found the exam was fair a bit disappointed with question 4 and 5 not what i was expecting, shocked by question 3 did not expect a full ratio question this has not happened in a long time and lectures indicated to me it was unlikely for a full one to be asked again, more likely to be a mix of cash-flow and ratios, question 1 was OK, I did the UK version and I managed to recognise the post acq was 4 months, question 2 i made a number of simple errors that lost me valuable marks such as the calculation for the shares and share premium also I put the bank down as an asset rather then an overdraft . question 3 was tricky as when I was calculating the ratios, there was not that much between them when comparing them to previous year. which meant I struggled with my analysis as I did not have much to talk about. Question 4 I did part 1 and 2, while I recognised it as discontinued operations I answered it in parts, part 1 impairment of fixed assets, part 2 discontinued operations, I also managed question 4 part 1 where I put down a defin for accounting policy and estimates i was unable to finish it. did anyone have a similar experience

when the answer wil come out?

Could not do the Q4 and Q5 at all because of poor time management.....

HELP!!
I managed to do the first 3 questions but I wrote the last couple of answers in pencil. i wanted to recheck them thats y i used the pencil...do you think that I will lose alot of marks for that? and to make things work i couldnt manage to do questions 4 and 5.. :( i wonder if i have a chance of passing this!!

@martinclifford999 said:
I was very depressed before coming on to this forum I would just like to thank you all for cheering me up, and my girlfriend also thanks you, nice to know I was not the only one who found it tricky, overall I found the exam was fair a bit disappointed with question 4 and 5 not what i was expecting, shocked by question 3 did not expect a full ratio question this has not happened in a long time and lectures indicated to me it was unlikely for a full one to be asked again, more likely to be a mix of cash-flow and ratios, question 1 was OK, I did the UK version and I managed to recognise the post acq was 4 months, question 2 i made a number of simple errors that lost me valuable marks such as the calculation for the shares and share premium also I put the bank down as an asset rather then an overdraft . question 3 was tricky as when I was calculating the ratios, there was not that much between them when comparing them to previous year. which meant I struggled with my analysis as I did not have much to talk about. Question 4 I did part 1 and 2, while I recognised it as discontinued operations I answered it in parts, part 1 impairment of fixed assets, part 2 discontinued operations, I also managed question 4 part 1 where I put down a defin for accounting policy and estimates i was unable to finish it. did anyone have a similar experience

Martin>>> ive learned the hard way NEVER to gamble and speculate!! all you have to do is start as early as possible, practice well and dont be disappointed if you dont pass..good luck!!

I think they will check that part too but for future plz dont use pencil and take extra sheet for all these, they have thousands of extra sheets, take them for working or rough stuff

@habonyousuf said:
HELP!!
I managed to do the first 3 questions but I wrote the last couple of answers in pencil. i wanted to recheck them thats y i used the pencil...do you think that I will lose alot of marks for that? and to make things work i couldnt manage to do questions 4 and 5.. :( i wonder if i have a chance of passing this!!

The paper was fair Q1&2 were sraightorward nothing new, Q 3 was not bad. Question 4&5 were tough for me, did not do enough revisions on thoose areas, fair exam to those who covered the whole syllabus

does anyone know when the solution for the paper comes up?

i dey

in all it was a fair paper, but time presured

u were to take subsidiarys share for by multiplying by factor4/12

@gwen2000ie said:
100% agree with you, this was my third time sitting it, knew 100% more than the last time in which i got 41%, read paper, hand out, started into Q1, got stuck and went over 15 mins on it, Q2 then went into it in a complete panic, couldnt think that even a 2+2 was coming out four getting more and more stressed, did all the adjustments but then couldnt figure out what i had done to plug them into the balance sheet, complete state of total panic, Q3, only had time to do a few ratios and then commented on the face of the B/S and moved almost straight onto a conclusion, didnt write enough only had a few mins to do Q4 which i quickly scanned the Q and wrote down what i knew not referring to the question. no time for Q5 which i knew before the time was up, absolutely devastated as wasnt a reflection on what i knew in any terms. had P3 the next day but couldnt pull myself together for it. I am giving up on the whole thing as nothing is worth this!!! life is too friggin short.

gwen: no way don't talk in this tone. you can do it and you will do it. time management is crucial, you probably knew exactly what you were supposed to do and how when you went into the exam, obviously the exam pressure changes that but I would say hopefully you've cleared it. If you haven't its not a reflection of your intellect or ability so shrug it off and next time (if that is the case) ensure you do what you got to do. If you get stuck, skip and carry on with other adj and go back to it or just guess. You will only lose couple of marks. By the sound of it you don't have long to go so give it another go, you CAN do it.

@gwen2000ie said:
100% agree with you, this was my third time sitting it, knew 100% more than the last time in which i got 41%, read paper, hand out, started into Q1, got stuck and went over 15 mins on it, Q2 then went into it in a complete panic, couldnt think that even a 2+2 was coming out four getting more and more stressed, did all the adjustments but then couldnt figure out what i had done to plug them into the balance sheet, complete state of total panic, Q3, only had time to do a few ratios and then commented on the face of the B/S and moved almost straight onto a conclusion, didnt write enough only had a few mins to do Q4 which i quickly scanned the Q and wrote down what i knew not referring to the question. no time for Q5 which i knew before the time was up, absolutely devastated as wasnt a reflection on what i knew in any terms. had P3 the next day but couldnt pull myself together for it. I am giving up on the whole thing as nothing is worth this!!! life is too friggin short.

gwen: no way don't talk in this tone. you can do it and you will do it. time management is crucial, you probably knew exactly what you were supposed to do and how when you went into the exam, obviously the exam pressure changes that but I would say hopefully you've cleared it. If you haven't its not a reflection of your intellect or ability so shrug it off and next time (if that is the case) ensure you do what you got to do. If you get stuck, skip and carry on with other adj and go back to it or just guess. You will only lose couple of marks. By the sound of it you don't have long to go so give it another go, you CAN do it.

for sure the paper was too demanding.Q3 too much.

SFP 64500?
Anyhow it is a time management Exam

@rajad2010 said:
gwen: no way don't talk in this tone. you can do it and you will do it. time management is crucial, you probably knew exactly what you were supposed to do and how when you went into the exam, obviously the exam pressure changes that but I would say hopefully you've cleared it. If you haven't its not a reflection of your intellect or ability so shrug it off and next time (if that is the case) ensure you do what you got to do. If you get stuck, skip and carry on with other adj and go back to it or just guess. You will only lose couple of marks. By the sound of it you don't have long to go so give it another go, you CAN do it.

I did know it, thats what makes it more painful that I made a ham of it lol. I had revised everything on the paper and couldnt believe my luck when i read it, when i lost the 15 mins on q1 however, trying to claw that back on Q1 made me panic and i couldnt think straight, losing more time. However if i do fail which i think i did, then i will have to do international stream next time and i have only studied for irish, I know they are similar in many ways but I dont think i have the will anymore.

@habonyousuf said:
HELP!!
I managed to do the first 3 questions but I wrote the last couple of answers in pencil. i wanted to recheck them thats y i used the pencil...do you think that I will lose alot of marks for that? and to make things work i couldnt manage to do questions 4 and 5.. :( i wonder if i have a chance of passing this!!

@habonyousuf said:


You'll be grand, i wrote my whole F9 paper in pencil a last year..have to say it was my neatest script I have ever handed up!! and I passed no bother :) id say its just in case your pencil was light colour and the scanner couldnt read it, mine was dark. if it doesnt come through they'll fix it, dont worry

I am starting to prepare for June exam. Tell me please the most important sessions I need to know fully to get alot marks.

Except time management, it was a simple paper. Practiced only 1 but was gasping for breath for 2 which I kept last. Q3 was only on the ratios. simple but time consuming. Q 4 and 5 were to test knowledge on IAS.

Imho the exam was really not attractive, without standard but interesting topics like lease, construction contracts, financial instrument and at least creative accounting. So next time don't know what to study???

To be fair to the examiners the exam was within reach.Time management as usual was the key.Could'nt have asked for a better paper.

i made a bad mistake. i wrongly apportioned the months for Q1. 5 months post-acquisition and 7 months pre-acquisition