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multrainee wrote:Hi All,

The solutions is usually intended to learning providers. We were told (P2P webinars) to just take 20% from their answers and use the solutions as an alternate learning ground. When answering SBL questions you should write 2-3 sentences max but the response should at least answer the following (what happened, why it happened and its importance and impact). Also, do not feel restricted to any models, answer the question like someone would in a situation like this. Apply real life examples. I remember in the march sitting I wrote a recommendation for a risk of flood as follows “The company should relocate its manufacturing yard to higher ground as failure to do so may result in the engines/other materials being damaged by a flood event” this important because etc..

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Woooh… 1st attempt passed 68%. This has been a long journey and couldn’t be more happier. Passed all 13 exams with first time attempts.

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8-9 hours

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cheerfulsy wrote:I took SBL(resit), and APM.
It is hard to know if I pass or fail.<br>I hope to hear a good news about both or at least SBL.

How did you find SBL this time compared to your previous attempt?

I am also waiting for the SBL result and not sure how it went tbh!

Hopefully we all pass

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mangekyo870 wrote:everything should have been:
TO: Tony Bursham (a.k.a the CEO, or Board of Directors, depending on the question)<br>FROM: Stranart (or however they were called) Consultant (you)

Yep. The letter to employees was the only one which we needed to carefully pay close attention to the tone. In fact, after doing the letter to employees I struggled a bit to re-adjust the tone in the next question as I was still writing “we” instead of Yexmarine.

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Jessica1997w wrote:Were all the letters,briefing notes to CEO of yexmarine from external consultant? I think the letter to employees was from ceo to staff so I addressed the letter from ceo to yexmarine employees. Is that correct?

I think I wrote it from CEO as the consultant was expected to draft the letter on his behalf.

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I chose dinghie and gave the following justification:

Having a higher return on investment of 135% compared to 70% of the premium yatch.

Also even the Npv was only 1.5M higher for Premium yatch however cost wise it was 6M more. They could make a saving here and invest in other lucrative projects.

Also I challenged the disadvantage of benchmarking targets using gross profit margins instead of npv.

I discuss around revenue coming in early for dinghi and this allows us to match it up with our working capital whereas in premiuk yatch we would need to borrow if there are cost overruns that was not estimated.

Payback period sooner than dinghie – less risky.

I mentioned discounted Payback should have been calculated to incorporate risk.

Also as Dinghi required simpler designs this could be something that we can leverage our core competencies with. The premium is what our competitors are offering but they have been doing this for a whole and they are likely to be better than yexmarine. Investment in this could be highly risky.

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My thinking is that by reporting more than the financial performance/position, the company demonstrate its accountability by reporting on other activities that is of interest to its stakeholders for e.g; its environmental footprint, employee turnover, satisfaction etc… noteworthy, Integrated reporting is used to communicate how value is being created from the company’s standpoint in the short, medium and long term. Thus why the capitals as mentioned above is a key element in showing accountability.

The above is my understanding of the matter and something that I would write in an exam. 🙂

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First time Pass with 55%. Still can’t believe it!! For those who didn’t make it, keep pushing, AAA is really tough and as such, getting the right exam technique and time management is crucial.

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Jennie_fierz wrote:Just checked My ACCA and it has this ” 1 notification” thing but not sure what that means. Is anyone seeing this as well. This is officially the most emotionally exhausting weekend waiting for results

That’s totally normal. For us this means that the results have been uploaded and scheduled for release Monday. Saw it a week or so as I waited for the June sitting results last year.

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Tony721 wrote:

ryanwilkes1985 wrote:

Tony721 wrote:

ryanwilkes1985 wrote:No worries pal, i’m chilled

Around how much was your expected score after completing the AAA paper? I’m patiently waiting for mine this Monday and hoping its a 50 given the difficulty to complete this paper in Dec for me.

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Does anyone know the mark allocation for Q3 (investment property and pension)?

I recall Part one asked to comment on the matters and the audit evidence bit of it.

Part two asked about the impact on the audit report I think.

Was these the only requirement of Q3?

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amnatanveer7@gmail.com wrote:Hi, do you remember the xact question of part 1 of Q2? wasn’t it what the audit committee think
whether the review could be undertaken by your firm? do u remember the exact question?

Yes. I remember this one. It was practice management but from the Group Audit committee’s perspective.

In my response I still made reference to the matters an auditor must consider before engaging a non-audit service however, I answered it from the committee’s perspective. Don’t know if this is what they asked for but i referenced the knowledge bit back to the scenario indicating resources, competence, independent, separate engagement letter needed and so on.

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Q1 24 marks significant audit risks followed by procedures question for 6 marks then Group auditor question for 12 marks and ethics question 4 marks.

Time management was still crucial.

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First attempt. 55% SBR-InT was certain i would fail. Only managed to complete 67% of the marks.

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Results are in!!!

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barbadoshk wrote:How did anyone tackle this? I was so rushed time wise I feel I didn’t read the questions properly but I said the smaller ci wouldn’t have any capitalised development costs and mainly to Research expense p&ltge bigger co I said R for first 2 points, capitalise the production and expense the marketing .. random questions thru the whole sec B!

Also did something similar.

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i-acca wrote:In Q2 a section, what is the component recognition? I messed up on that question ?

I think it had something to do with depreciating the computer parts differently from the purchase of new components. Not too sure if it’s the correct approach. Spent too much time on it that I could have spent on Q3

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For the sale and leaseback I took the lease liability (PV of the lease payments) / fair value of the asset x carrying amount to get the right of use asset. Did anyone do something like that?

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i-acca wrote:Do you remember the question with the revenue? There were 2 performance obligations international and domestic: i said recognize separately and dont recognize that 10 m as revenue?

Also recognised seperately using cost allocation to the 10M

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I calculated it as a sale given that the risk and rewards was transferred. But I could be wrong. Time pressured exam indeed

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Still can’t believe i passed this on first attempt!

I completely left out Question 2 and still managed to obtain a pass. This shows that the examiner is quite considerate as long as you try and demonstrate that you know what you are doing and want to achieve in your answer. To be honest, AFM was the worst ACCA exam condition i ever put myself in. So glad its over.

For those who didn’t make it, do not lose hope. Put in the extra work and i am sure you will see a good result.

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Yep! That’s exactly what i did for the market shares.

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And the tax aswell. I think it was taxable in year 4 only. When i added back the depreciation i got the last two positives.

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Did you include the disposal 10M? I had negative cash flows for years 1 and 2 only. Managed to get a positive base npv and i included the disposal. Maybe I shouldn’t have?

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