[jaypatel]

I’ve deffo failed this.

Worst thing is I knew most of this stuff just made it more difficult for myself than it was.

Bad times…

[jaypatel]

Guys I messed up big time.

Don’t know what happened 🙁

[jaypatel]

1. Had 11 marks for company purchase of own shares
6 for ethics I think
2 on overseas VAT

2. CGT and IHT

[jaypatel]

Hi Rocker,

I think I can assist.

The 130% deduction refers to a large company. A small company can deduct 225%.

BUT… Remember that 100% has already been deducted in getting to the TTP (as its just a normal expense whether it qualifies or not).

Subsequently the additional deductions for a large and small company will be, 30% and 125% respectively.

Also, don’t forget that a tax credit of 11% can be claimed instead.

[jaypatel]

As negative as it sounds I don’t think I have any strengths. I guess I know a little something on most things but not a lot on anything in particular.

Weaknesses, are definitely recalling all the relief’s, and all the losses in their various forms.

I guess we don’t have long to go. I think in the exam I really need to focus on relaxing a bit. It’s time pressured but I think I need to invest in thinking time.

[jaypatel]

Same kind of.

I’m generally ok with stuff I’ve been over recently (i.e. last couple of hours).
I know I know stuff it’s just I doubt my own accuracy and then end up in a spiral of not knowing what I’m talking about. Then I worry that I’m wasting time thinking instead of writing.

To be honest I just feel like I’m too slow for this exam. (I’ve been doing questions to time for about 3 weeks, just can’t seem to alleviate the panic.)

Tomorrow, I’m planning on reading through all one pagers, then read through the remaining articles. I’m going to try and squeeze in an exam paper over the course of the day addressing all the taxes, at some point. I also need to go over dates and penalty regimes, oh and VAT schemes.

I’ll leave the examiners interview for the morning of the exam (already read through it a couple of times during the last few months).

I’m really worried now.

[jaypatel]

Sorry, ME1 – Is just Mock Exam 1

[jaypatel]

Yeah sure.

In fact here’s the 24 hours of questions:

Must do
11
31
32
13
ME3.1
ME3.2
ME3.3
ME3.4
ME3.5

Should do
4
35
34
20
12
23
27
18
25
36

Could do
ME1.1
ME1.2
ME1.3
ME1.4
ME1.5
9
17
21
24
26

To be honest all my tutor said was, just make sure you get syllabus coverage.

[jaypatel]

Pilar was a tough question.

The approach I’ve now adopted is to allocate 0.4 minutes per mark to reading and planning, and the remaining 1.4 to writing.

Generally the things I write towards the end of the question don’t score many marks so figured I’m better off investing that time in making sure I understand the requirements.

The only other thing I have picked up (from the BPP QBD day) is the importance of breaking a question down into its individual components.
Say a 10 mark question may have 5 requirements. A rough guess would suggest just a few minutes on each.

I am very worried about this exam but my tutor has always said its good exam technique that will pull you through.

I hope Audit goes well for you

[jaypatel]

This is my first sitting of P6, and I feel the same to be honest.

I seem to be struggling with time, and the fact that missing or ignoring or not having the knowledge on the smallest bit can throw a whole question off.

I’m personally trying to allocate more time to reading so that I get a decent grasp of the situation and then steaming through as much as I can writting wise. I’m keeping sentences super short (but I’m worried that I may forgo marks) although the examiner did say keep it short.

BTW is it just me or are the Pilot Paper questions much harder than others?

[jaypatel]

Hi Monet,

This is a bit of a strange point but the theory goes that a company is counted as an associate if it is an associate within the period, regardless of how long it was an associate for.

So I guess if an “associate” is purchased (+1) or sold (+0) it is always counted.

Hope it helps.

[jaypatel]

Lol I like your style.

I think that is actually a good way to feel. Exam panic for me just means I lose all reason and logic.

[jaypatel]

Hi All,

Thanks just got to knuckle down and give it our best shot now.

Good luck to you all.

[jaypatel]

Omg that’s awesome thank you.

Didn’t realise, I could get these. 🙂

[jaypatel]

I like to think EV is the scientists/actuarial view.
It will never happen, but is almost certainly risk neutral based on the fact the decision is being made on a purely scientific basis.

[jaypatel]

No worries.

Good luck… fingers crossed.

The more questions I do the more I feel that I don’t know.

[jaypatel]

Hi Daisy,

Sure I’ve done this question. I’ll work through the restaurants bit.

The basic calculation is

Current Year/Past Year x 100.

So market growth in restaurants would be (10,860 / 10,752) x 100 = 1.01%
Or 1.0% rounded.

The average is much the same. So take the growth between each year;

%
2000-2001 1.0
2001-2002 1.0
2002-2003 0.0 (Stayed the same but still counts as a growth period)

Average growth is, Total / Number of growth periods

So (1.0 + 1.0 + 0.0) / 3 = 0.67

Hope this helps

[jaypatel]

I’m not sure of that exact question but I was under the impression that assets and liabilities are translated at the closing rate, equity is translated at the historic rate (ie date acquired), with the exception of post-acquisition reserves. Post acq reserves is the balancing figure, and subsequently includes the cumulative exchange gains and losses.

Hope this helps.

[jaypatel]

Oh and as a risk framework ALARM

Appetite
List (risk register)
Assess (TARA)
Response
Monitor

[jaypatel]

I use PERLS for Tucker

Profitable
Equitable
Right
Legal
Sustainable

[jaypatel]

I personally, limit myself to one page of A4.
Get the model down, but copy it by understanding it (therefore annotating it in different colours).
When you do questions any mistakes you make should be written on that page. That way hopefully you won’t make the same mistake again.

I then get someone to test me on them, the week prior to the exam. If I can explain it to a layman then I’m sufficiently prepared (I hope)…

[jaypatel]

Interesting you mention this.
I am logging my study time for two exams, on the basis that I think each exam requires roughly 100 hours in total of study time.
I guess it’s largely dependent on what is considered effective studying, ie gazing out the window doesn’t count.

F6 was the first exam I did. And personally I think it’s a good one to start with. Both papers are tough, but at least they’re interesting. They also mix element of knowledge and application as well numerical. My tip would be to get quick, confident and accurate with the numerical elements. Up to the point where you almost do it without thinking. That way in the exam you may have little more time to check.

Good luck.

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