[ajabbie12]

Pass 75. First time.

[ajabbie12]

Pass 63%

[ajabbie12]

I also got a negative NPV. And the number was a big one. I was worry after the exam that I flopped.

[ajabbie12]

Passed with 77

[ajabbie12]

I wanted to say *misunderstood

[ajabbie12]

@ewelinagabiec, Maybe I understood the question. I think it was employers reimbursing employees for fuel used in business mileage? And not employees reimbursing the employers for private fuel mileage. Can sb remind me of the scenarios?

[ajabbie12]

I also did the pre-June mock and a long period of account was part of the questions. So I literally went into answering without thinking about how to approach the question.

I’m more surprise that people are having problems with the fuel benefit. This is cover in every material I touched- Kaplan kit, opentuition notes, ACCA technical articles.

I recommend that we do not forget about the ACCA technical articles. I started using them for my PM and never stopped since.

[ajabbie12]

I was watching almost every bit of that lecture initially, in the middle spent forwarding most of the videos because I slept over more than watching.

Eventually, I will watch only the introductory lectures to chapters and the rest I relied on the notes because I was running out of time to cover the syllabus. That helps me a lot.

However, tax-UK videos are way too long. Maybe they have a reason for that.

[ajabbie12]

All the adjustments are done for the whole 15 mons without any split until you get to the second part of the question. It is only then you split the adjusted profit into
– first 12 mons
– the remaining 3 mons.

Capital allowances are calculated/related to these periods. The only significant thing there is time -apportioning the WDA ie 3/12 for the 3-m period.

[ajabbie12]

I treated the capital loss in the 3m period as nil as well because it can only be set off against capital gains or carried forward against future net gains.

[ajabbie12]

Entertaining customers are not allowable so I added them back in the adjustment ie before any spilt is made because it is still treated in the period of account and not relate to AP.

Fuel cost where fully reimbursed is nil assessment and where reimbursement is less than the actual fuel use, then the difference is deductible from the employment income.

[ajabbie12]

I had the same exam as you! Though I found it pretty easy. My only problem was the capital allowance on the equipment purchased. I wasn’t sure whether 130%FYA or AIA applies because being NEW isn’t mentioned. I just decided to assumed that it is NEW and used 130%.

[ajabbie12]

Passed 61% 2nd attempt. Last was a 49.

[ajabbie12]

Section A and C(rolling budget and balanced scorecard) are fair and normal. The amount of info in section B(throughput and limiting factor) was overwhelming. Even if you were able to get through it, would have taken a lot of your time. Absolutely unnecessary!

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