[Diane]

I got so confused when I looked at it too! Thought I had lost my mind completely and December sitting was a definite fail then.

They may not have released any Dec Q’s as they may do the hybrid with the Mar ’17 session as that will be the last exam using the current Financial Act before it changes again from June ’17 session.
Keep students wondering what was tested on in Dec ’16 so they cant question spot for the March exam.

[Diane]

I found the general consensus to be:

Part qualified after reaching P Level papers; Finalist when you have only 1 or 2 (at most) P Level papers left.

You can still apply for ‘part qualified’ roles if you are nearing the end of F Level, but it normally does depend on the employer and your knowledge/experience in Finance

[Diane]

Hi Sarita82,

If it is still available, I would like them. Where are you based? I am in Covent Garden (or SW London)

[Diane]

Thanks for explaining!

I knew it was something so basic and simple, but my brain just couldn’t accept the truths!

[Diane]

575 is 80 + 495 (495 calculated as above)

Am unsure as to where I have gone wrong in my calculation.

[Diane]

You’re allowed to enter up to 4 exams per exam session.

You’re allowed to PASS up to 8 exams per year.

Failed attempts do not count. (if you do not sit the paper, it counts as a fail obviously)
I don’t think there is a limit to passing a maximum of 4 each half year. But it is definitely 8 per year.

[Diane]

Noted. Thanks!

[Diane]

Where did you find the capital employed figure for use in Q1?
I either missed it or I am being really stupid and couldn’t work it out.

[Diane]

@flexi
Well said!
I am yet to pass P5 (failed once already) and it is definitely different to all papers in how you need to apply your knowledge.

I think it is ridiculous that people want the paper to be easier. I do not want to gain my qualification for it to mean absolutely nothing because ACCA make is easier for people to pass! I did not waste all these years and my hard work for it to mean nothing in the end.

I just hope people can come to the reality that it is hard, and that you need to think completely differently. I found it more a test of your knowledge to think on your feet (as if in a real life situation) as compared to rote learning from a textbook.

Here’s to hoping to pass in June!

[Diane]

Ha! NRB’s aren’t really worth worrying about. If they had the money.. it would be transferred to the spouse as exempt!

So the maximum transferred can only be limited to the total of one additional NRB, no matter how many deceased spouses there may have been?

I didn’t think they would have a rule in place, unless some one has already tried this tactic!

Thanks for explaining!

[Diane]

I have taken exams in several centres, Excel included. I would not comment otherwise.

Just be prepared, and only worry about the exam. Exams are ruined and disrupted by a few students who do not take it seriously, expecting everything to be given to them or just too impatient. You are there to achieve a professional qualification, and should be acting like a professional.

[Diane]

I can understand the temperature always never right, nor the toilets being in great condition.

However, as a student sitting an exam, you should be well prepared with bringing your own water. Other exam halls do not supply this and I think it is unnecessary and also causes disruptions to other people. You would not come to an exam without a pen, so why would you sit a 3 hour exam without bringing water.

With the counting of the scripts, it is an ACCA requirement, they scripts should have actually all been accounted for, boxed up and it should have left the room before any student even so much as gets up to leave the room.
Especially with the way everyone rushes to get up and stampedes to get out the hall.

Just giving a different perspective as to the causes of your frustrations. Not everything should be a given.

[Diane]

You can select which country, and center when you register to take your exam.

I have done this as I plan on taking my December exams elsewhere as I would like a quieter environment than the one I currently go to.

[Diane]

sorry, I meant the 20% overall goodwill impairment to the group, compared to 30% that has been attributable to the NCI only.

[Diane]

Question states:
‘The directors of Anda had valued goodwill attributable to the NCI in Kristina at $15,000’

The NCI holding was 30%.
Total goodwill is 85 with a 20% impairment: 17

The goodwill impairment for the NCI is greater than the actual proportional share of the goodwill attributable to them.

Do I just ignore this? The goodwill impairment is only meant to impair up to the total of goodwill, not the overall investment, is it not?

I understand the Parents side, but here, the NCI is impairing at over 30% of the attributable goodwill, compared to the actual 30% overall impairment.

[Diane]

Great!!

It was the ‘awards vest’ which i wasn’t too sure about, but it makes sense now. Thank you.

Also I asked this question to my manager at work who told me that they are normally taxed. Along with employee gifting. Is this something that is examinable? In any P level paper?

[Diane]

Thanks Mike!

Words of encouragement 🙂

[Diane]

Hi Mike,

Thanks.

OT practice questions at the end of the study text seem to always give me a good understanding before attempting the revision kits. They seem to jump straight into the deep end and sometimes do not explain themselves very well, especially P2 as I have had a look at them and it’s just gone straight over my head!

Thanks! I will get started properly on them all now.

[Diane]

anyone else unfortunate enough to sit the exam at Excel London and have the invigilator with the very strong and not nice smelling aftershave on..
Gave me a headache and I couldn’t concentrate. Think he bathed in it!

[Diane]

This came up in the F6 exam June 2014. It may come up in the P6 too… But i’d suggest watching the recorded lecture on the F6 page (the last lecture on the notes to do with IHT – ‘7 year cumulation period-example 2’). It explains what bogel said, and is correct!

Very interesting though. I quite enjoyed learning about it. It’s actually very straight forward once you’ve watched the lecture. Reading it in the BPP textbook… not so much.

[Diane]

Thanks for reply.

I had already taken exams before anyone could answer me!

I was freezing! Doesn’t help that I’m ill too. I’d suggest to people to make sure they bring a jumper.

I also don’t feel its an ‘exam’ setting. Noisy, people chatting away before and after, people on their phones at their tables. Even saw people writing away in their answer booklets before and after the given time! And invigilators said nothing!!

Definitely not in my view very professional from ACCA, nor from some of the students I saw.

[Diane]

Just another extremely time pressured F7 exam…

I was just sad that I couldn’t show off my skills on producing the full consolidated accounts and a cash flow!

Interpretations.. I have no idea how you’re meant to make up 15 marks! There was not enough info about the actual business to make assumptions. (to comment on the overall performance)

[Diane]

There is a lecture on CLT being 7 years on 7 years. The 7 year rule!

It also covered why you would leave estate to grandchildren instead of children. (It wouldn’t be double taxed)

Thanks OT, although paper was a sure fail. Ha.

[Diane]

What H has said is correct.
But it is now said there won’t be any reason to elect for SLA as from FA2013, the AIA was increased to £250,000 (from £25,000), therefore most likely, all assets purchased within that year would fall within that amount.

Only choose to elect to use SLA when you have used up the full AIA for that year.
Although I think its very unlikely new assets will amount to more than £250,000 in the exam.

[Diane]

Ah, I read it in a different, but wrong way!

Thank you for explaining.

[Author]

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