[ryanb88]

Some students had EVA in the first questions, other did not. Do not do as I did and worry as soon as somebody mentions EVA. Different people had different Q1s. Relax!

[ryanb88]

I think I’ve got it now. I think I confused myself earlier on.

For other students:

A service cost is charged to P&L and is comprised of three elements:
-Current service cost, which is the increase in the present value of the obligation arising from employee service in the current period.
– Past service cost, which is the change in the present value of the obligation for employee service in prior periods, resulting from a plan amendment or curtailment
-Any gain or loss on settlement.

I.e., non-cash.

Thank you for your help, and patience, Stephen.

[ryanb88]

Thank you for your reply Stephen,

The penny hasn’t dropped yet with regards to the service cost. I understand that it needs to be added back in, I just can’t work out why.

If I had a business which had an employee pension scheme, my business would expense a contribution each month – which would go onto increase the pension cost

I would also expense a service cost – this would essentially be an admin fee paid to the pension provider for handling the pension pot.

Have I understood what a service cost is in this context? If so, and it remains an outflow, why would we then add it back in?

[ryanb88]

Why do people keep saying glory to god for the pass. God didn’t sit there for several hours a day to study it you did

[ryanb88]

51%

[ryanb88]

Did this in Manchester. Such a strange exam experience.

[ryanb88]

55%, first time, John’s lectures are gold.

[ryanb88]

55%, first attempt, great lectures as always John.

[ryanb88]

Outrageous!

I’d be pushing for refund, plus travel, plus loss of income for the day off work you had to take.

I’ve no doubt they’ll be claiming some type of compensation from Pearson.

[ryanb88]

Thank you Henry, that was my first opinion!

I would also think that to withdraw the PER objective sign off would be quite the hassle, I’m sure the website wouldn’t have the facility to do so

[ryanb88]

You’re right and don’t I feel dozy now. It is obvious and it seems that I had brain fog having spent all day studying.

Thanks John!

[ryanb88]

This seems very poor value for money.

[ryanb88]

@nasry96

I imagine they studied the course, watched the videos, practised the exam kit, you know, like every other answer to this type of question ?

[ryanb88]

@cathyspicy you’re right, we did! Wahooooooo

[ryanb88]

Thank you Chris for the delivery and quality of your lessons which helped me achieve a first time pass.

[ryanb88]

@cathyspicy

Yes, we definitely had the same. I think I did very poorly on the SFP, felt much more comfortable with the acquisition targets – I recommended the smaller acquisition (reef?).

Fingers crossed, we wait and see!

[ryanb88]

Absolutely no idea how that went.

Back questions were analysis and recommendation of two target acqusition companies

One consolidated SFP. Could not get it to balance.

Nothing on deferred tax which is great as I cannot get my head around it, but really uncertain how it went.

First set of questions seemed to all be very similar.

Flip a coin as to whether I passed or not I have no idea.

You would think three hours would be enough to complete the exam but it is always a struggle

[ryanb88]

57% first time, 12 marks unanswered. Oooooooweeeeee.

[ryanb88]

You have to finish F1-F3 before you can attempt F4-F9 and you have to finish F4-F9 before you can sit any of the P-level exams.

The order you do F4-F9 doesn’t matter.

That said, ACCA put them in an order to help.

F8 has alot of overlap with F7.

Audit and Assurance (F8) is in large parts auditing the Financial Reporting (F7)

But yes, you can sit AA as soon as F1-F3 are complete.

[ryanb88]

I thought it was a relatively straight forward exam, my issue was timing, I was running late in the exam and did not realise at the 10 minute mark I had two questions remaining. A 4 mark and a 16 mark!!!!!

I managed to blitz half of the 16 mark question before running out of time. Big shame because I knew how to answer it.

I’ve never run out of time in an exam before now.

Oh well, there’s always September!

[ryanb88]

I have just been practising the exam kit none-stop for these. It seems that almost all of the sentences are an audit risk, it is knowing how to apply the relevant wording overstatement/understatement/misstatement then provide a sensible resolution that the auditor would undertake to correct the issue

[ryanb88]

I don’t think it’s a technically difficult subject, I am just concerned that I am either:

Not going to go into enough detail when answering questions
– or –
Go into that much detail I miss the broader point.

I’d feel more confident about the exam if the pass rates weren’t so low!

[ryanb88]

Any exam tips and advice for June -2019 Tax,
1. what topics were tested on more than once either in sec A, B or C.

I wouldn’t advise on this – study and revise the whole syllabus

2. is there was Q on tax planning ?

Yes, for me there was, it was about inheritance tax, but as above practise everything.

3. how was spreadsheet what features were enabled with sheet is it manageable in time ?

All usual features, but I only really used =SUM(A1:B1) for example.

4. Can we adjust the column width & height ?

Yes

5. whether it was a work book and we have to solve 1 question east on on worksheet ?

I don’t understand this question

[ryanb88]

@charlamagne, what suggestions you do want?

Read the textbook, watch the videos, study the material, practise the questions, sit the exam.

[ryanb88]

Mark, Preston UK, seen your profile is LA, a long way to travel if it was you!

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