ACAwhy
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#1
How did everyone find the exam? I thought R1 and R2 were straight-forward enough but thought the calculations and discussion on R3 were quite ambiguous.

Very worried for the 30th August!
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Bevs936
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#2
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I really didn’t like the case today. I feel as though I massively over ran on requirement 1 and then rushed 2 and 3. Rookie mistake the nerves got to me 😔
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beancounter123
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#3
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Agreed. A tough paper, given its a july exam. Requirement 1 overran slightly and req 3 was very confusing. Think many people struggled with req 3.
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Sfeya.nEYA
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#4
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I dont have enough time to answer R3. so sad
I accidentally pressed ESC button and walla all my ethic and recommendation gone. (I cant click Undo button). Luckily it happened to Ethics parts only. If it's happened to my main body context, sure i will go jump the building.

For R2, the calculation was also confusing, IMO. Because the tender fees submitted by Eversley was wayyy to low compared to my suggested tender price. I think around $100k gap. I also included design cost in the calculation and OPE and EA together (since the question just mentioned "Equipment". Not sure whether this will be correct tho.

For R3, yes since im not really sure about equipment management things. i just listed down all the relevant issues and due to time constraint,
i C n P all the relevant discussion into my Conclusion and ES (same content). Not sure if they will penalise me on this.

People said, if you did well in R1 and R2, but your score for R3 is below the average or too far below your R1 R2 scores, they still will fail you. (Can somebody confirm this?)

Due to these reasons, I dunno whether can pass or not (This is my 2nd attempt btw -.-)
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harry199107
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#5
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I did the same, ended up with a tender price well above the one made by Eversley. Either we read it wrong or it was correct, as the costs added up to something like £420k whereas the Eversley tender was £425k? I'm sure if you justified it you can still gain marks elsewhere was a tough paper and I lost time on Requirement 1 which I had to make up elsewhere.

Requirement 3 was strange too, had a massive GP margin so I think I've messed up the calcs. Thought the calcs weren't meant to be confusing for case!! Obviously your discussion then depends on the results of that calc, so they are important to some degree. If you managed to finish, at least there's hope. I copy and pasted for requirement 3 too.

Hated doing it on computer!! I found all 3 papers very tough with a lot to read and think about I've come out feeling really stressed.

(Original post by Sfeya.nEYA)
I dont have enough time to answer R3. so sad
I accidentally pressed ESC button and walla all my ethic and recommendation gone. (I cant click Undo button). Luckily it happened to Ethics parts only. If it's happened to my main body context, sure i will go jump the building.

For R2, the calculation was also confusing, IMO. Because the tender fees submitted by Eversley was wayyy to low compared to my suggested tender price. I think around $100k gap. I also included design cost in the calculation and OPE and EA together (since the question just mentioned "Equipment". Not sure whether this will be correct tho.

For R3, yes since im not really sure about equipment management things. i just listed down all the relevant issues and due to time constraint,
i C n P all the relevant discussion into my Conclusion and ES (same content). Not sure if they will penalise me on this.

People said, if you did well in R1 and R2, but your score for R3 is below the average or too far below your R1 R2 scores, they still will fail you. (Can somebody confirm this?)

Due to these reasons, I dunno whether can pass or not (This is my 2nd attempt btw -.-)
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Sfeya.nEYA
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(Original post by harry199107)
I did the same, ended up with a tender price well above the one made by Eversley. Either we read it wrong or it was correct, as the costs added up to something like £420k whereas the Eversley tender was £425k? I'm sure if you justified it you can still gain marks elsewhere was a tough paper and I lost time on Requirement 1 which I had to make up elsewhere.

Requirement 3 was strange too, had a massive GP margin so I think I've messed up the calcs. Thought the calcs weren't meant to be confusing for case!! Obviously your discussion then depends on the results of that calc, so they are important to some degree. If you managed to finish, at least there's hope. I copy and pasted for requirement 3 too.

Hated doing it on computer!! I found all 3 papers very tough with a lot to read and think about I've come out feeling really stressed.
I think we are on the same page, but i just add on 25% margin on top of cost, as per previous Tyron projects. I just simply made an assumption on GPM ..lol
Hate doing this on computer too. Im not used to type using Destop keyboard, should be faster if using laptop. But still, Laptop screen is too small to accommodate this.

I hope they will lower down the average passing mark due to R3 things..hehe..so..we have a chance to pass.
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darkiee
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#7
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Yeah, I got the same number 425k as cost and used the BM of 25% and then calculated actual margin after design cost and Eversely was tending at 420k.

I found that I didnt have enough to talk about in the specification, 3-16yo with Limited mobility which was obvious that PF can do that as. Was there any other specification that I missed?

I think we may just be fine but never know with case init. Its the marking key that matters the most.
(Original post by Sfeya.nEYA)
I think we are on the same page, but i just add on 25% margin on top of cost, as per previous Tyron projects. I just simply made an assumption on GPM ..lol
Hate doing this on computer too. Im not used to type using Destop keyboard, should be faster if using laptop. But still, Laptop screen is too small to accommodate this.

I hope they will lower down the average passing mark due to R3 things..hehe..so..we have a chance to pass.
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tom785
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The point in R2 was the fact that Eversley were bidding low, hence meaning PF had a decision - bid low (similar to Eversley) loss make but keep out competition and perhaps benefit from follow on options and build reputation OR bid high, as higher standards, but risk losing out on this tender.

Also with using LTT, meant didn't loss make, but then lose high standard reputation. This then clearly led into the fact that PF usually can bid higher due to the fact it has higher safety standards, and can bid at a premium.

This then fed in nicely to question 3, where competition within D&I meant needed to move into some other stream to help relieve pressure and smooth revenue.

The calculations were a bit obscure, but I think if you identified the profits achieved completely relied on the 10% of savings achieved reaching the £200k mark as the other monthly income completely netted off with COS would be fine!
Last edited by tom785; 1 month ago
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ACA-ICAEW1993
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#9
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Did you do three calculations in requirement 3, 1 showing the upfront revenue for set up of database with GP and GP%, One showing ongoing revenue from the cyclic visits for maintaining the database of assets and one showing the income from advisory work assuming they reach the £200k mark over the two years and taking 10% of that?I think I also tried to tie in an ethic point to the 10% revenue based on cost savings that there will be self interest to promote cost saving by promoting lower quality products and over-looking regulatory requirements which can lead to client relationship damage and PFL reputation damage for exemplary safety record, quality and reliability?
(Original post by tom785)
The point in R2 was the fact that Eversley were bidding low, hence meaning PF had a decision - bid low (similar to Eversley) loss make but keep out competition and perhaps benefit from follow on options and build reputation OR bid high, as higher standards, but risk losing out on this tender.

Also with using LTT, meant didn't loss make, but then lose high standard reputation. This then clearly led into the fact that PF usually can bid higher due to the fact it has higher safety standards, and can bid at a premium.

This then fed in nicely to question 3, where competition within D&I meant needed to move into some other stream to help relieve pressure and smooth revenue.

The calculations were a bit obscure, but I think if you identified the profits achieved completely relied on the 10% of savings achieved reaching the £200k mark as the other monthly income completely netted off with COS would be fine!
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tom785
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Yeah pretty much bang on to what I did.
(Original post by ACA-ICAEW1993)
Did you do three calculations in requirement 3, 1 showing the upfront revenue for set up of database with GP and GP%, One showing ongoing revenue from the cyclic visits for maintaining the database of assets and one showing the income from advisory work assuming they reach the £200k mark over the two years and taking 10% of that?I think I also tried to tie in an ethic point to the 10% revenue based on cost savings that there will be self interest to promote cost saving by promoting lower quality products and over-looking regulatory requirements which can lead to client relationship damage and PFL reputation damage for exemplary safety record, quality and reliability?
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Sfeya.nEYA
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:eek::eek: R3 got 3 calculation? okay -.-
i only did 2 calculation (Asset management + advisory)
i tot the IT software was their expenses, and deemed immaterial to calculate the impact
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ACA-ICAEW1993
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i didn’t add IT expense for the software either because first of fall they didn’t say that they will definitely be using the playground operator app plus the license was £10k per annum for first year with £5k going forward but to be honest I spoke about it when discussing IT issues rather than including it in the calc as an expense
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darkiee
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#13
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I think we should all just wait till August 30 now hahahaha. Whatever we discuss now can't change out fates
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Sfeya.nEYA
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haha..so scaryyyyyyyyyyy :eek:
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Sfeya.nEYA
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#15
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So, hows everyone doing?
pass? world prize winner?
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beancounter123
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#16
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Haha.... will be lucky to get the pass mate!
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CBAACA
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#17
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Good luck ladies and gents, might buy a bottle of whisky tonight to calm the nerves
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darkiee
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#18
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#18
I am ****ting myself! Did a rookie error and went through the paper again and realised I f*ked several things lool. Good luck to you all.
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ACAwhy
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#19
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#19
(Original post by Sfeya.nEYA)
So, hows everyone doing?
pass? world prize winner?
Is there something you know that we don't?!
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Angie_Tran
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#20
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Hope everyone passed. I feel relieved now.....
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