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does anyone know, the second part of the fourth question on inventory valuation? was it a loss of 0.6 millions and not a profit of 2 million as per the assistant accountant….plzzzz respond
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Again another exam where timing was an issue for me. The exam had me – I feel very worn from this one. I am hoping for a pass I will be totally devastated if I fail.
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@derrickagyiri said:
i made a huge mistake … i apportioned the month for the consolidation wronglyPre inquisition is said 4 month and post acquisition i said 8 month
how bad have i fuck up mates .. someone tell me 🙁
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overall, i think the questions were fair…as with the rest,i was also suffering from the timing issue…actually all the questions were bits and pieces from the the Kaplan/BPP exam kits,especially for Q2…btw, what is the PURP for Q1?
@norhayati66 said:
overall, i think the questions were fair…as with the rest,i was also suffering from the timing issue…actually all the questions were bits and pieces from the the Kaplan/BPP exam kits,especially for Q2…btw, what is the PURP for Q1?it was 400 of mine 320 for G.R and 40 for NCI
400 came through 2000 *25/125 = 400
The answer to question 2 was SOCIE= 83890 and Balance sheet tallied at 150200……
Rest of the paper went just fine hoping for a positive result .
Its was post consolidation 4 months and pre consolidation 8 months mate.
@derrickagyiri said:
i made a huge mistake … i apportioned the month for the consolidation wronglyPre inquisition is said 4 month and post acquisition i said 8 month
how bad have i fuck up mates .. someone tell me 🙁
Very good paper this round, sadly dont matter how hard i tried i could not manage my time well, so i’m pretty sure i failed and wasted this nice paper.
Time to buy new books, pay for new lectures and get ready to learn the new syllabus.
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okay..for Q3..I din take out those 1 off cost and etc.. din mention bout loan ..the rate and etc…
am I screwed? I only discuss based on the ratio as stated in FS.- Topics: 0
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was it really 4 months and 8 months , i got 3 and 9
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jus glad dats over..merry xmas everyone!!!
@lawless75 said:
was it really 4 months and 8 months , i got 3 and 93?? how it was 1st June to 30 Sep
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The paper was ok but like everyone else time is the issue with this one.
2x SOFP, 2 x SOTI, SOCE, Ratios & Interpretation, Two theory questions….in three hours! I would nearly rather have three hard questions in three hours.
Glad to be finished and am praying for a pass…This is my only exam left before I do P2!!! Not looking forward to June either way!! 🙂
Well at least I can put up a tree today!!
Great exam, easy I would say but could only really attempt and finish 75% of the paper so just looking up to God!
Easy exam but time was the BIG issue!!!
I agree with you guys totally that the exam paper was easy. But for me (sat 4 exams this sitting) this was the most time consuming and demanding. Yes the questions were fair in terms of difficulty level but what is the point of giving a paper that is too hard to finish in time. I’m talking about overall, because there will be ppl who could finish this within 3hrs but not too many.
2 sets of complete accounts with one being a consolidation, the examiner is having a laugh. Overall I think this was a bad exam for Steve, pass rate will probably remain the same. Easy paper:Very short time so lots of ppl will lose marks which they wouldve got otherwise, including me. Conclusion? easy but if you can’t finish in time then it’s not really fair. Q1 should’ve only been an SFP or SCI not flippin’ both.
Let’s hope we can pass, I only attempted 80% of the paper. God willing I’ll be smiling come February next year.
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The paper overall was a fair paper. but 3 hours to do all that work is really asking alot.
Q1. balanced the SOFP at 63,000. not sure i dealt with the negative FV Adjustment properly though
Q2. didnt bother to tally the SOFP. took too much time on workings for provision and the other adjs
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Fair paper. I managed to attempted all question but i did mess it up on the time apportioned. Am i going to loss a lot of marks?
Yeah there was a greater loss of $0.6m using AVCO. The $2m that the assistant got was from switching the beginning and ending inventory around and mixing up AVCO and FIFO.
You will def score some marks for working that out. 🙂
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big time
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Can someone tell me if we really need to get new books? I am asssuming that any changaes in the syllabus are of a theoretical nature and the examiner will write about it in student accountant? Please shed some light
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new in this site and on ACCA, i will be registering tomorrow…
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Is it just me or does anyone else think that these exams are really just about people’s ability to perform under a ridiculous amount of time pressure (the art of accounting seems seconday). Where is the value in rushing through five questions with no time to think, doing a paper which is practically impossible to finish unless you are a robot, and just spilling out adjustments you hoped you’ve memorised and chase marks like a demented person!! I just said 45 mins per question, rushed like maniac hoping that the hours of study were not a complete waste of time. Does this make for a good accountant….I think not…if I treated my clients accounts this way I’d be fired!!!!!
Does anyone know when the exams will be out? I want to see mark allocation.
And one more question:
Have anyone written about impairment loss in question five? I remembered that after the property is held for sale if the fair value less costs to sell is less than carrying amount than the impairment loss should be recognised.Thanks in advnace for responding
Guys despite the horrors of examinations, we are aspiring accounts with a Professional Code of Ethics and Behaviour which guides our behaviour. We need to watch our language derrickagyiri ! We don’t want to damage the image of Open Tuition which has been quite helpful to students.
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