ACA July 2016 CR, SBM and Case

Hi guys,

Just sat above 3 exams. Was wondering what people thought / how you found them?

Thought CR was not bad with lots of audit in it, SBM was very time pressured with lots to do in short space of time and very odd data analysis requirement, case was OK - each requirement seemed pretty straightforward - just hoping I wrote enough to pass each requirement (requirement 1 threw me a bit as it had no adjustment so just wrote loads on revenue / GP).

Xylophone

Reply 1

edweena

Original post by Xylophone

I thought CR was tricky with the overseas stuff and the Investment Property (according to my answer - I could be wrong and I could have been PPE though). I answered it all but found the lease part tricky also. SBM was on but time pressured but the content (apart from the data analysis part to Q3) was straight-forward. Case Study was ok but I just hate the mark scheme - I'm hoping I ticked te right diamonds to get enough boxes to pass. Do you have pass all parts to Case Study to pass? Or is it the top 75%?

Reply 2

Xylophone

Original post by edweena

Oh yeah i messed up my FX calculation for the loan. Hope they don't penalise me too much for it. I thought the AFS investment, intangibles and investment property were OK but I'm assuming I wrote the right things / got accounting treatment correct. It could have been PPE? Oh dear I definitely thought it was an investment property (and there probably would have been discussion marks I would have lost about mentioning the differences). Yeah the land sale - I said half was finance lease other half was outright sale. But others have said half was operating lease. The data analysis in Q2 I did was not great either and there were some odd revenue recognition bits which I doubt i got right. I'm just hoping all my audit stuff in Q1 and Q3 combined with partially correct accounting stuff will pull me through (e.g. pensions, goodwill in Q2).

With case I think you have to pass all three requirements and do a decent job of the exec summary, but in each sitting 75% get through consistently so there must be a lot of moderating. With case my Req 1 was a little bit light (no adjustment), so hoping I got enough diamonds there.

(edited 7 years ago)

Reply 3

edweena

I put investment property too but have known a few people to say PPE. I also said half was operating lease and have was finance lease for that tricky lease question. For case I find it hard to believe 75% people pass all requirements so surely there must be a lot of moderation? I didn't put any adjustments through for R1 in Case but in the exam pack, it just said the financial statements included these one-off charges already? so in terms of adjustments im not sure what we had to adjust, I just did a small separate piece of analysis saying 'excluding these one offs the movement is XXX'. But I was fairly thorough on R1 and R2 so I hope even if I messed up that bit I still passed. Its R3 that I rushed.

ACA July 2016 CR, SBM and Case

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