Hi all

what did you think of todays paper?

I thought it was relatively easy, especially question 3 and 5,

but Question 1 ex-right price, dividend growth model and etc was a bit of a struggle.

Please share your thoughts.

hey..

totally agree.!!!
inshallah i hope to pass with good marx

yes, much easier than expect! :) hopefully, could get good marks!

Hello,

I thought question 1 was a bit strange and different from previous years questions on the whole, and also it concentrated on some fairly obscure and quite difficult aspects of the financial management syllabus I thought. Given that question 1 is 50% of the whole exam, this seems a bit harsh. I would agree that some of the other questions were pretty straightforward - I did 2 and 5 and thought that both were more straightforward than many I have seen in past papers.

I would actually say that I found question 1 really quite difficult and given that I have some work experience in financial analysis and other relevant topics, I can only assume that those who don't must have found this question even more difficult, so I am slightly surprised to hear people saying that the exam was fairly easy. I would very much like to hear what other people think.

Charles

I have to agree with Charles. I have no experience in management accounting, just pure financial accounting and I thought that question 1 was really, really difficult. I told my sister who helps me revise that I couldn't have had a worse question 1!! I think I answered part a and b okay, but the rest I have no hope on.

I'm hoping to scrap a pass based on my answers to questions 3 (variances) and 5 (NPV), which I have to agree were fairly straight forward.

I had been hoping for a NPV question for question 1, as is usual for most of the past papers.

We will just have to wait and see.

I agree with Julie.

Question 1 was horrible. I really concentrated on NPV, IRR etc in my revision, trying to memorise inflation, taxation blah blah blah. So, when I went through the questions today, I almost wanted to walk out the door! Not really but kind of... :-)
I have no hope whatsoever in today's paper. Will forget about it and ring FTC tomorrow to order new study materials for Dec sitting.

I am not in an accountancy job (as yet). So, my knowledge in accounting & finance really comes from my undergrad and master's degree studies 5 years ago. Got exemptions in 5 papers and started with 2.3. I must say this is quite disencouraging as an introduction to the ACCA, and is different from studying at uni. One of many reasons obviously is time management and other commitments. Having spoken to a few friends who are also doing the ACCA and/or other professional qualifications in acc. & fin., I am wondering whether it's 'normal' to fail in these sorts of exams in the first sitting?

Anyway, will forget about all these ratios for a while.

I agreed with K.T.

Question 1 was definitely out of our expectation, I thought it was going to set investment appraisal if it were then there will be easy marks to pick up. Sad to say that it only appeared in Q5 with a mere 25 marks. Q1 was technically not very hard but I would say very time consumed as it required you to apply what you have learned couple with certain degree of real life experience.

I just don't have all the time in the world, I only able to finish Q1 & Q5. I don't give a positive hope on this paper and very likely I'm going to re-take this paper again :( .

In my opinion, failed in the first attempt will only reflect that how much effort have you sacrifices or how many papers you have taken this round and will you be able to allocate as well as plan your time accordingly if you are taking 4 papers, the right approach to study also need to be considered. I believed that it is very normal to fail as one would not possible to remember so many especially to working adult like us where time contraints is our biggest obstacle as opposed to full time studies. For instance, if I have 8 hours a day to study I just wonder how to fail this or these paper(s).

Just wonder what style of question will likely to appear in Dec06 Q1. All the best to those who are able to make it this round and do not be discouraged if you think you are not doing pretty well.

Thanks for the encouragement, Tandem. Actually, 'disencouraging' was the wrong word to use. I meant I was rather disappointed with myself... But then, I do see your point that I have got to plan my time much better now than when I was a full-time student. Compared to then, now I probably only have around 1/3 of the time available then for studies...

Anyway, hope it will turn out well for you! Also, all the best to those who took 2.4 yesterday.

This forum is cool. Being an ACCA distance learning student, I don't have any coursemates to talk to... Now that I have discovered this forum, I think I will log into this now and again.

well, i must say, the questions does seems easy and were easy to attempt but i just get the feeling , they were tricky a bit , like Q5 (taxation period) and that sort of stuff, anyhow, fingers crossed

I think my end in this paper will be between 45 and 55 and I think for question 1 you don't need to be a bookworm, only thing was to apply the knowledge straight according the requirements. I am good in theory so I selected question 2 and question 5 as no other choice was available except risky calculations. Even I completed 91 but still my time management was very good as I had enough time to answer question 2 part b but i knew nothing about it.

I think the willpower was also very much required for this paper as it was the last paper and often student feel craving to get rid of this hard test if they are distressed by the questions. I was shocked in an instance to look at the question 1 but immediately I started to cover my favourite question 5 and done it with ease. After that I feel question 1 is not such a nightmare and I started to apply whatever I had read and it was done well with analysis except last part I just kicked around the information.

I hope examiner will give credit for efforts and all of us would be satisfied by the result.

the paper was quite hard for me . i may have to sit again in december. :(

Well i've gor to say the format of Q1 threw me and i think i'll definately be resitting Dec.

For me it was really down to time management. By the time I' fully answered Q1a I was seriously running over time and moved onto Q3 & 5 to pull back some easy marks. I then went back to Q1 but once i'd got my head round it i only had time to attempt part of it!

When i added up at the end how much i'd answered i can only scorean absolute maximum of 63% and that's if I answered what i did 100% correctly.....which i don't think I did!

Whooops :roll:

It's a good job the summers coming 8)

Also i would have to agree with Julie.....i've been in practice for 10yrs and management accounting was concentrated on far too much for me! Whilst you choose the questions that suit your knowledge/job etc in section 2 there doesn't seem to be any balance between management accounting & financial accounting in the compulsory question..... :cry:

Guys, I am sure all of you tried your best in this paper as well as in other papers. So, SHOULD, I'm saying SHOULD the result not turn out well for anyone, just forget about this sitting in June. I'm sure in your next sitting you will definitely be able to achieve what you want to achieve! Everyone learns from the mistakes he/she 'thinks' he/she did. So, as long as we realise what went wrong whether it be time management, studying strategies etc., just rectify it for/in the next sitting.

For me the biggest mistake was, and I'm admitting it, that I didn't read chapters 22-25 Working Capital at all, no practice questions and none of the last 3 chapters at all!! Because of other commitments and time restrictions I HAD to skip those last 3 chapters (but read all others). I only had a glimpse at the title in the book, that was it. Plus I was heavily relying on the exam tips which I checked on FTC's website, thus focused on NPV especially plus two other topics. My own fault really! So, for next sitting I know what to do, just start preparing earlier, if I know that I have got (so many) other commitments and responsibilities...

Honestly, no one could have done worse than me.. because I had to make something up for Q1 a) (am sure the examiners will have notice my 'creativity') and barely remembered the ratios for 1 b). Plus, my hand-writing went from good to bad, bad to illegible! They'd probably advise me to go to a few hand-writing lessons... Good thing they can only see our student number. :-)

Anyway, just enjoy the summer and keep

:lol:

I mean keep smiling! Or start reading already if you feel like, too!