[kish200]

Heloo
Sorry for the late late reply.
But you were absolutely right, my mentor adviced the same thing and I have now decided to go with the topic
“Research an organisation that is recognised as having poor ethical business
practices, analyse and evaluate the reasons for the poor ethical business
practices and the impact this has on identified stakeholder groups. The poor
ethical practice must have become apparent in the last 5 years.”

[kish200]

52%

I will take it
A pass is a pass. Atleast I’m done with all the skill exams now

Thank you open tuition

[kish200]

I think I did well in section C
I had calculation of employment salary, calculation of taxable income, calculation of chargeable gains for individual (but it was very basic).

Section A and B was a disaster for me.
A lot seemed to be on IHT and Group accounts

[kish200]

61%
Thank you open tuition
I only had 3 weeks to study since I had been out but open tuition notes and lectures were more than enough to get me through.

Onwards to my final exam of Fs (tax)

[kish200]

I used the cost of goods sold, I felt the 90% purchases may have been a distractor.
I think I got 73 days as the cash operating cycle but I am not sure if it was the correct answer.

[kish200]

Section C was ok for me
I had to calculate NPV with no tax but some inflation adjustments. I think I answered decently.
Then I also had to calculate between 5 projects divisible and which are the best investments project A and B were “mutually exclusive” I didn’t know what it meant at the time but I assumed it meant that the projects couldn’t be invested in at the same time judging from how close their NPV per cost of investment was. (I searched later, I was right)

Section A was okayish and section B was a disaster.

[kish200]

60%
I am so happy.
Thank you open tuition

[kish200]

The MCQ was really difficult this time compared to December.
I had an ethics question in section B and corporate governance which I think I answered well.
I also had internal control deficiencies which I feel I did well too.
I also got a lot of questions about substantive procedures and this is the part of the syllabus I struggle the most =(

I also had a question about events after the reporting period and changing the audit opinion from unmodified to modified.

Overall, the substantive procedures questions really got me down and I don’t feel I passed the exam 🙁

[kish200]

In section A I got questions about ethics and planning and risk assessment and also corporate governance.

In section B the first one was control deficiencies, control recommendations, and test of controls for inventory stock taking./
Some random knowledge questions like the benefit of audit planning and what to consider when deciding to rely on Internal Audit department controls.
I also had audit risks and auditor response question
Then substantive audit procedures was quite a lot, I remember for bank loan and director bonus and trade receivables

All in all, I think the exam was fair and reasonable and if I fail it is definitely because I didn’t prepare for the exam enough because there literally were no questions that I did not see in the revision kits, the videos or the past papers

[kish200]

Nyasha27 wrote:Bro i got the same but was just wondering was the disposal of sub with profit or loss? Coz i got profile

I got a profit also but I may have been wrong because if you looked at the administrative expenses in the following year (in the comparisons) it showed an increase in administrative expenses which could suggest a loss on disposal.
But I answered the following questions assuming it was a profit

[kish200]

Emma19841 wrote:I got the same section C as you, easy marks on the ratios at least

Yes, I was very happy with section C, maybe struggled a little bit on disposal, but it was just 4 marks so it wasn’t worth wasting time over.

[kish200]

On section C I got:
Question 1
Disposal of subsidiary
Ratio Analysis and Calculation
Question 2
Single entity statement of profit and loss and other comprehensive income
Statement of changes in equity

Section B
What I remember is:
IFRS 15 Revenue from contracts with customers
Impairments

Section A
A mix of everything, but I recognized some of the questions from the BPP exam kit for 2021 (about 4 of them I think)

[kish200]

Emad.. wrote:Congrats on passing on your Law paper

Well I will say use the lecture notes and all the lectures here on opentuition.
Then attempt all Kaplan exam kit and also all of BPP exam kit, any questions you don’t understand you can ask them to the tutor. That is how I passed on first attempt.

[kish200]

Noted, I understand now.
Very well explained Sir, thank you.

[kish200]

MikeLittle wrote:My understanding is that the ratio decidendi is the core of the judge’s decision whereas obiter dicta relates to (and here is the key word!) EVERYTHING the judge considered

I understand now, yes, thank you so much

[kish200]

mrjonbain wrote:I would advise you to use Opentuition as the basic structural framework for your learning. In addition you could flick through study texts if you have them but it’s more important to make use of practice and revision kit. I would follow lecture notes and lectures in the main on Opentuition. It is easy to get bogged down using study texts particularly if trying to memorise significant details. Opentuition is concise but thorough. The practice and revision kit practice should keep you exam focussed. Hope this helps.

Thanks a lot.
Yes it does a lot

[kish200]

tbmks wrote:If you already have an accounting background I don’t think you’ll find it very difficult, but in any case 2 months is more than enough

Thank you for your input.

[kish200]

goranbl wrote:Hello!
I have worked in a small audit firm for almost 14 years, starting from the junior position.<br>Last year I moved to a much larger firm, at the position manager in audit&assurance-<br>If you have any specific questions, please do ask.

I currently work for an informal manufacturing plant.
My question was are the works any different from manufacturing to that of an audit firm?
Should I really be leaving my current place (where I am senior) to a new place where I will most likely be a junior

[kish200]

hundal445 wrote:I work for a small accountancy firm which provides Accountancy and taxation services, It really depends on what role you get there, I am working as an assistant accountant and I prepare individual and small company accounts and file tax returns, A little bit of admin work is also included. Generally speaking, the consultancy part is facilitated by an expert or a senior person you might not be expected to handle such a task in the beginning.

Hi
Ok, they had said that I would start with Data capture and then move up once I prove that I am skilled.
I currently work for a manufacturing company in the position of Administrator. I would say I am in the senior position here because I decide on all the costs, salaries, payments, etc.
In the case of this new position, I would most likely be a junior again.
A lot of people say that where I am currently is way better

[kish200]

Thank you so much =)
I had no idea about this

[kish200]

Finally passed the second attempt with 60% after failing in September.
Thank you, Open tuition.

[kish200]

Did anyone get the question about Gold Account in section A about the life cycle PROFIT instead of life cycle cost?
That was a wtf moment for me

[kish200]

omarhussainali wrote:did anyone get 12,500 relevant cost for labour question?like 500 hours was in the question or something

I got that question but I can’t remember the answer.
It was just the lower of cost of hiring or cost of standard workers + loss of contribution

[kish200]

omarhussainali wrote:for the standard weighted cost i got like 0.31 or something? and for the residual income question i think i got 18,750 or something?anyone else?

Standard weighted cost was 1.25
Residual income I can’t remember but I think that was it

[kish200]

Sankwww wrote:Sec C – Balanced scorecard and rolling budget
Sec B – limiting factor, throughput and mix and yeild variance

How I wish I got the rolling budget, omfg

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