[Vipin]

I have tried Kaplan distance course and it is not worth the money. OT is simply the better and free. Kaplan tutors are little arrogant. Once I get the higher salary I will definitely support OT. My advice is not to waste money on such expensive packages. The videos in distance plus learning are simply worthless. I have not tried Kaplan tuition.

[Vipin]

the asset cost is 7,000 dollars. The revalued amt at year 2 is 8000. The total depreciation for the 7 year is 8000+1000=9000. The company paid only 7,000 for the asset and they recorded 9000 in the pl. they are not tallying though there are compenents in oci and equity. in this case, company is showing loss of 2,000 over the 7 years. it looks a wrong way of doing it.

[Vipin]

@erathan said:
I will tell you my experience on the day of my P3 exam,

1. I miss the bus to go to the exam hall.
2. I lost my IPhone on the way.
3. I forgot to bring my exam docket.

Thus, because of those things, I could not focus on the P3 exam itself.

But, fortunately I passed, such a relief …….
Thank You Lord Jesus……

Praise Jesus. Never give up. I had a similar experience before my entrance exam. i was late 30 minutes for exam but passed.

[Vipin]

Thanks to God for pass mark 59 and it was my 4th attempt. Thanks to opentuition and sir ken. Never give up.

[Vipin]

Ok, I got it. thanks. I watched the previous lecture again.

[Vipin]

when we receive dollars, we pay dollars to bank for converting to pound. right? the topic is little confusing one.

[Vipin]

You are not alone. I have same dilemma. Many have same dilemma.
some say p5 is similar to p3 and p2 study helps p7.
some also says, in study phase p7 is not much to cover but must work a lot with question papers.
p5 is more of business analysis with supporting numerical evidence but no much calculation required though.
p7 give an idea of challenges or situations exposed by an Senior external auditor and p5 of a CFO.

this much I have learnt asking others.

[Vipin]

I am using kaplan study text. They do it when tax payment is delayed one year. only for such case, they do discounting two times. I just noticed the difference now.

[Vipin]

the ratios i took were current ratio, interest cover, gross profit margin,net profit margin.

the current ratio is healthy.
interest cover dropped form 6 to 2.5
change in gross profit margin is not considerable.
change in net profit margin is considerable.

cash in hand is too low. employee turnover is too high and i established that the company redundant the employees to meet cash flow requirements.

Also, the working capital is financed by a shot term loan. company is facing liquidity issues. very clear.
those were my points.

[Vipin]

what were the political factors of MPF?
my points were , customers were too concerned of foriegn investment, also fat managers. likelihood of some regulations from governemnt side on those factors. But, i am not sure whether I will get any marks for my points on political factors.

two legal factors already given in scenario. so, for legal factors I wrote from them.

[Vipin]

@rogman228 said:
Here’s a 300 % answer relevant to IR from part (c).

Can’t remember where I got this note from, think it might have been a technical article or a P5 textbook from Kaplan.

“The integrated report also provides a vehicle for
illustrating progress through relevant measures of strategic performance.
Failure to meet set targets can be commented upon and remedial actions, if appropriate, can be outlined. Central to this will be a discussion of the CSFs and the KPIs which have been identified to measure business performance. KPIs will have associated performance objectives which can be reported in the integrated report.

Thus, the report not only restates the KPI and its associated performance objective, it also reports on whether that performance objective has been met and, if it has not, discusses reasons for failure and the actions which are being taken to ensure that this objective is met in the next reporting period.”

I didnt write as clear as yours. my points from scenario was weak in this part c of the answer. did you pick any CSF of MPF and its related KPIs. I was trying to identify those. somehow i tried to connect some CSfs to integrated reporting. But, flow of information was too weak, bad.

My answers for project were too weak again. I couldnt relate much to the scenario. I tried my best and wrote few points. contents of PID, Business case, steps in project plan, Tara all written but could not relate to scenario. I was nervous whether I will pass or not.

[Vipin]

Q1.a. combination of PESTEL and idnetifying strength and weakness. a weird combination. Tried my best to apply the knowlgde in scenario.
q1.b. porter five forces.
q1.c. combination of CSFs, KPIs, integrated reporting. Weird combination again.
that was tough.

q2.a analysis of present and previous FS of a supplier, a software company.
q2b. knowledge level question

q3. a. knwoledge level question
q3b. tough one
business case, PID, project plan, risk analysis. picking points from scenario is too difficult.(my opinion)

q4. a.advice electric company how to attain, priced based, differentiation, lock-in (another weird combination). got scared.
q4b. forgot

[Vipin]

failed the 3rd attempt. have to prepare again.

[Vipin]

@johnmoffat said:

If a company issues shares, then the capital structure will end up the same whether it is a rights issue or a public issue.

Do public companies have to consider existing shareholding (not the change in capital structure)? That was my doubt.

thanks

[Vipin]

It is a fair question paper.

I had to think a lot. I finished writing just on time.

Q1. all questions were based on change management.
part a is on swot for 18 marks. I had confusion on identifying the Swots.
part b. 10 mark question.( readiness, time, compatiblity, persevation) . struggle a lot to write for 10 marks. may not score well.
part c.7 mark question on scope and nature of change. i dont understand what they expecting to write. which theory to apply. i wrote blah blah.
part d. startegy clock. wrote fairly I guess.

q2. was based on absorption costing and related. got scared. dont remember f5 topics. so bye bye.

q3. harmon process.
i wrote both were complex and low strategic importance. i wrote my rational to classify so. these processes couldnt be automated by software. so i classified it as complex.

q4.
slightly complicated scenario. they made me to think a lot. applying and writing my opinion and structuring the answer was too difficult. somehow I managed. I completed the answer, the inviligator announced only one minute left.

a guy runs a website to sell retail branded items. he has complicated supply chain. too confusing.

[Vipin]

It is my second attempt and I failed again. I will give a try in march. Congrats to those who have passed.

[Vipin]

I have studied from kaplan so far and I passed every exam. if it is not there in kaplan and then you need not study. BPP usually have lot more content. very lenghty boring writings. You have lots of time only then you should go for BPP. and quality wise , kaplan is better. such a review may be subjective. But, i would say that you can trust kaplan.

[Vipin]

It was fair paper. It was tough for me.
Q1. A 18 marks.
Bcg, ashridge matrix

Rest of them was tough.
Totally unexpected questions.
Pid , NPV calculations…..
Q2.
linear regression and seasonal variations. I got scared seeing thr figures. Just intrepreted the figures given.
Big data. But i didnt write big.
Q3.
Service marketing mix
Principles of eprocurement.

Got scared again. So i left it.
Q4.
Cultural web.
Just intrepreted the situation

Partb.
Competency framework.
I forgot it.
Learning organization.
I forgot it again.
10 marks gone.

Attempted 72 marks.
But not sure of passing.

[Vipin]

Thanks.

It was ethical dilemma. Sorry, I omitted the word ‘ethical’.

How such a situation would throw them in ethical dilemma?

[Vipin]

failed. i will try again. Congrats to those who passed…

[Vipin]

Decision tree was asked for 14 marks. I was not prepared for that. I attempted q2 and q4. Q2a was okay. Q2 b was tough.it was asking ethical dilemma. I could not find one reason for ethical dilemma. Q4 a was easy. Porter diamond. Q4 b was horrible. I might fail.

[Vipin]

got 69 marks….thanks to God…

i didnt expect that much…..this is my second try btw…

[Vipin]

P1 is interesting subject. This is my second time. If I fail I will write again in June. P1 changed my life. Taught me to face fear and weakness in my life. I am very poor in memorizing theory. Yet I take it as challenging. P3 and p1 I suffer most. But my perspective changed. If I fail definitely I will study again and run the race again. No quitting.

I choose q2 . I regret I should have attempted q3 instead.
Deontological approach I forgot to mention the word duty instead I wrote motivation. Mistakes I wrote a lot.

Every topic is important and we should be ready to face a scenario based on that topic. Ready to explain deep. Should remember all points. I should byheart all bullet point answers.

[Vipin]

Q 1.
Difference between unitary and two tier board system. Disadvantages of two tier system.
Easy one.

Roles of risk committee.
Wrote something something…..

Draft article to magazine. Carries 20 marks.
My goodness, I wrote so poorly.

Q2.
Integrated reporting.

Case explains advantages of integrated reporting and still they asked what are advantages of adopting IR.
Somi just copied from the case . will I get mark for that.

Explain six capital and explain relation between them.

Forgot what are capitals. Wrote something.

Q3.
Risk assessment.
First reading I didn’t understand what they are asking so I left that.

Q4.
Ethics
Difference between relativism and absolutism.
Difference between deontological and teleogical

How bribery impairs trust?
Measures to prevent bribery.

Some were deep questions. Overall questions were okay.
If questions are easier than these how it can be professional exam?

[Vipin]

becker study text has helped me a lot in p1. BPP didnt help me in p1. in my opinion becker study guide is so superior to bpp in p1.

buy it is never a waste.

in p1 there is lot of read.

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