[bonnokutlwano1991]

True ,

[bonnokutlwano1991]

Section A and B was typically very challenging , i remember questions of the likes of calculating the current inventory policy , where you had to calculate a buffer , one where you had to analyze the Payback period of different scenario , and the one that talked about the fiscal policy , option 1 of the answers they said increase in public spending , rather it is increase in government spending , more question on asset valuation , risk , and in section B , the working capital question was so challenging , does anyone remember the value of the minority shares , and also payables days which trade payable amount were we using the one on the balance sheet or the closing one .Section C for me was NPV , prohibited acts on Islamic finance , advantages of Lease and Buying , WACC , ordinary shares (CAPM ) , Preference share and redeemable bonds (we were not given a discount factor) and Capital rationing (theory).

[bonnokutlwano1991]

it was WACC , redeemable bonds , preference share and ordinary shares , what puzzeled me is that there was no discount for the calculation of IRR did we have to resort to using the IRR formula

[bonnokutlwano1991]

The question was asking which appraisal methods are suitable for capital rationing , in this case i guess you have to describe the DCF AND NPV, and how they relate to divisible and non divisible

[bonnokutlwano1991]

I did finish on time , but had a tough one around the audit risk question , i hope i make it

[bonnokutlwano1991]

To know the answer you had to calculate materiality .

[bonnokutlwano1991]

Hey , check out the AA exam practice 2 around that question , their answer was when the Auditor issue the report

[bonnokutlwano1991]

Multiple choice questions for this paper were super tricky if I get above 15 will be super lucky, also the substantive procedures for me had always been a problem, Audit risk questions was super happy to see ratios, easy calculation marks, also making it easy to comfortably identify risk (I just hope my answers were sufficient) The last bit about adjusting events ( I calculated materiality on what the auditors were suggesting not the difference, though it was an immaterial adjusting event, my questions are were the management refusing to make an adjustment and disclosure??, The last one writing a letter on deficiencies of payroll and recommendations,

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