F9 - anyone willing to share revision plan?

frogstar · 09-05-2013 09:12PM #1

I'm doing f9 home study and f7 in independent colleges.

Just started revision classes for f7 and the lecturer handed out a revision plan and how to tackle the exam on the day.

Would anyone have something similar for f9? About to get stuck into the papers but would appreciate if anyone has something like this that I can use as I feel I'm just going into the exam blind.

Happy to share the revision plan for f7 if anyone is interested

Many thanks

Lovbnmoma · 13-05-2013 09:39AM

Hi Frogstar, Im doing F7 and F9 aswell but studying from home. How are you finding it? What kind of things are on the revision plan you got for F7? I am on study leave from next week on and I plan to just concentrate on exam questions for the two weeks leading up to the exams and I just keep repeating questions until it sinks in.

frogstar · 13-05-2013 05:45PM

Just getting stuck into exam questions this week

For f9, I'm finding it hard to get some structure. I don't find the syllabus overly difficult but there is a lot in it and it's hard to know what will come up so I'm not fully confident yet.

F7 I find easier to. Study as we're guaranteed consol / preparation of financial accounts and interpretation in q1-3. Though I think I'll be time pressured in f7 as there is so much in just one question.

Lecturer for f7 has us doing subs and associates in q1. Also we are doing a p+l as well as the sofp incase a p+l consol comes up

For q2 he has us preparing a restatement question (came up years ago) rather than just the sofp. Also revising the adjustments to be revenue recognition/const contracts/fin instruments.

More worried about f9 as I've put a lot in f7. I've looked at open tuition for f9 and have used some online lectures they have where they go through past exams. It's quite good

Lovbnmoma · 13-05-2013 09:55PM

frogstar wrote: »

Just getting stuck into exam questions this week

For f9, I'm finding it hard to get some structure. I don't find the syllabus overly difficult but there is a lot in it and it's hard to know what will come up so I'm not fully confident yet.

F7 I find easier to. Study as we're guaranteed consol / preparation of financial accounts and interpretation in q1-3. Though I think I'll be time pressured in f7 as there is so much in just one question.

Lecturer for f7 has us doing subs and associates in q1. Also we are doing a p+l as well as the sofp incase a p+l consol comes up

For q2 he has us preparing a restatement question (came up years ago) rather than just the sofp. Also revising the adjustments to be revenue recognition/const contracts/fin instruments.

More worried about f9 as I've put a lot in f7. I've looked at open tuition for f9 and have used some online lectures they have where they go through past exams. It's quite good

Yeah im finding f9 definitely harder. I have been looking at opentuition since I started studying I find it really good. Thanks for the tips for f7. F9 has so much in it alright hopefully it will start sinking in soon!!

KaleidoJ · 26-05-2013 08:39PM

Personally I found F9 is easier than F7. Read the Technical articles especially the ones written by the Examiner.
I studied from home as well and I didnt do any cases in the revision book.
Practice the past papers 3 times. Focus on the discussion parts(take the sentences in the official answer booklet).
You will earn more marks for the analysis part.

frogstar · 01-06-2013 08:39AM

How are you getting on Lovbnmoma?

In still struggling with f9. I've done all the past papers. I'm a bit better on the discussion but I get stuck on the calculations ESP bus valuations. I just find there is so many ways for examiner to ask the same thing.

I'm not too bad on f7 but that's mainly because we can be pretty much guaranteed q1, 2 and 3.

I'm really looking forward to Friday when it's over as I've been off alcohol for the past month. A bottle of wine has my name on it!

marizpan · 01-06-2013 12:36PM

I'm studying f9 also.

I've spent the last couple of days focusing on risk mgt-foreign currency/hedge. Next valuation!

I am planning on not getting too worked up about some of the calculations and focusing more on discussion and analysis.
I picked out where the easy marks are, then the medium marks and finally the hard marks and I'm working my revision around this.
Some of the calculations aren't worth the time regards marks, where that time would earn easier marks spent else where.

Lovbnmoma · 01-06-2013 03:40PM

Hiya im struggling with business valuation too its so complicated I find it so hard to get my head around it but im definitely gonna focus on the theory part a bit more cause I think thats what will get me through it. I really hope npv comes up and wacc im not too bad at that. Im panicking a bit now wondering do I have enough time to cram it all in!

optimistic_ · 01-06-2013 03:48PM

frogstar wrote: »

How are you getting on Lovbnmoma?

In still struggling with f9. I've done all the past papers. I'm a bit better on the discussion but I get stuck on the calculations ESP bus valuations. I just find there is so many ways for examiner to ask the same thing.

I'm not too bad on f7 but that's mainly because we can be pretty much guaranteed q1, 2 and 3.

I'm really looking forward to Friday when it's over as I've been off alcohol for the past month. A bottle of wine has my name on it!

Same exams this time Frogstar!
I'm doing F7 and 9, pretty shaky on F7 if I'm being honest now. Just going to do as much as I can between today and Wednesday.

Can't wait for Friday now.

frogstar · 01-06-2013 06:29PM

Think I'm over thinking some of the calculations. Some were only three marks but had nearly a full page in workings.

Hoping npv, capm, wacc comes up. Seem to be on most papers but some have had more marks. Would be happy if they leave valuations off

Optimistic, any part in particular you are struggling with on f7? I think it's easy enough to get through q1 and q2 by just lifting some numbers off the question, without actually doing any hard work. I also think q 3 ties in with a lot of what is done in f9.

optimistic_ · 01-06-2013 06:55PM

frogstar wrote: »

Think I'm over thinking some of the calculations. Some were only three marks but had nearly a full page in workings.

Hoping npv, capm, wacc comes up. Seem to be on most papers but some have had more marks. Would be happy if they leave valuations off

Optimistic, any part in particular you are struggling with on f7? I think it's easy enough to get through q1 and q2 by just lifting some numbers off the question, without actually doing any hard work. I also think q 3 ties in with a lot of what is done in f9.

Ah no, I've just been shockingly lazy with it all! I just have to work through some questions and then lace through the IFRS's, I'm sure my cramming will pay off as it has done for the last four exams!

One thing for F9 I've been told to watch out for is a full question on de-gear, re-gear, CAPM, WACC

From what I can see, you're pretty much guaranteed a good NPV question, WACC and CAPM will come up somewhere at the very least if not in a full question with adjusted Betas (above)

I think with the valuations (you mean with the dividend growth and price earnings ratios etc?)
So far I've been okay with those having the EPS, PE ratio and Div growth model down

If I pass these, I'm doing P1 at home and going to lectures for P2,. this time around i've been to no lectures so essentially doing them at home.

http://acornprotutors.com/wp-content/uploads/P4AFM-SQB-Questions.pdf
Scroll to Q12 called "Hotalot" - it's a full question on degearing, regearing - in part (a) ignore the "significance of alpha" - it's outside our syllabus

http://www.scribd.com/doc/91191425/24/HOTALOT-CO

That's the answer for it there as well, I actually thought there was a WACC in it but there's not.

optimistic_ · 01-06-2013 06:58PM

Lovbnmoma wrote: »

Hiya im struggling with business valuation too its so complicated I find it so hard to get my head around it but im definitely gonna focus on the theory part a bit more cause I think thats what will get me through it. I really hope npv comes up and wacc im not too bad at that. Im panicking a bit now wondering do I have enough time to cram it all in!

You've absolutely loads of time - get the past papers, the theory questions - study and reword the ideal answers. After you've done that, go back and try to do them again, only looking at what you've written when you're stuck. Then read over everything in your new answers comparing them to your original notes. Then go back and try them again tomorrow.
It's a lot to do - but put in a few hours, take a break, do a few more hours, etc

Says he who is currently sitting posting on Boards instead of concentrating on F7

frogstar · 01-06-2013 07:50PM

Thanks for the regear example. I've done lots of revision questions but I don't think I did a regear one in them!

At this time of night, can't look at the books. Will do study from 9-6 over the next few days.

optimistic_ · 01-06-2013 08:40PM

frogstar wrote: »

Thanks for the regear example. I've done lots of revision questions but I don't think I did a regear one in them!

At this time of night, can't look at the books. Will do study from 9-6 over the next few days.

No probs at all, will be putting in longer days myself! Eep.
If I'm not talking to you, best of luck on Wednesday and Friday, and I'm sure we'll be fine! See you on the other side!

Lovbnmoma · 03-06-2013 07:40AM

Hey thanks optimistic for that question ill definitely look at that one! God I cant wait til its all over on Friday! Im gonna watch a couple of open tuition lectures about the business valuation again hopefully it will sink in then.

Lovbnmoma · 04-06-2013 09:40PM

Best of luck tomorrow guys!

mkdon05 · 04-06-2013 10:16PM

.

frogstar · 05-06-2013 07:44AM

Good luck everyone.

Getting nervous now!

frogstar · 05-06-2013 01:37PM

Well what did we think of f7?

When I saw the paper I thought, good, I like this. But god I was all over the place with my answers. I forgot how time pressured this exam is. I spent most of my time watching the clock rather than actually thinking about what I was answering. I moved on if time was against me.

Happy with q 3. 1+2 I thought were ok but the losses threw me a bit but I tried to move on and get the main parts down.

4+5 should have been ok but I think I lost it at that stage and was just writing crap!

Overall I think I may have scraped by. I don't think I could have done any more revision but I'm not happy with my technique

Lovbnmoma · 05-06-2013 03:47PM

Hiya I was the same god I was so time pressured. It was the first exam where I struggled getting it finished. I haven't a clue how I did to be honest. Did ya get any of them to balance?

frogstar · 05-06-2013 03:55PM

Usually I have 15 mins or so but didn't on this, my hand kept cramping!

Didn't balance any of them but that doesn't bother me, sure even if it balances it could still be wrong

I'm wrecked now. I don't think I can manage looking at f9 tonight. So glad I have tomorrow to revise that

optimistic_ · 05-06-2013 04:22PM

Very same, when I opened the paper I thought "This is an absolute gift" but then when getting stuck in, there were a good few little things that were throwing my train of thought
I would say if I passed it'll be a 50-55% mark at the most.

I was happy discontinued ops came up (despite having spent so long on revenue recognition last night) - I had the theory all but perfect, but quantifying it- I just hadn't the time.
Question 5 - I might get some pity marks. I had some of the main points in the question, and i think I got the consolidated theory part of Q5 right as well.
I'm a bit worried, but I'm glad it's over.

Straight to Wallace's on Friday when I get out of there.
Walked home today to clear the head and enjoy the sunshine a bit, long long walk!!

optimistic_ · 05-06-2013 04:23PM

Oh and well done everyone for doing the paper, it's tough going. Don't think people who have never done it actually realise how much work goes into these exams and how much it takes out of you.

optimistic_ · 05-06-2013 04:25PM

frogstar wrote: »

Usually I have 15 mins or so but didn't on this, my hand kept cramping!

Didn't balance any of them but that doesn't bother me, sure even if it balances it could still be wrong

I'm wrecked now. I don't think I can manage looking at f9 tonight. So glad I have tomorrow to revise that

nothing of mine balanced, but yeah, never anything to worry about, it's your methods that get you the marks in the end , not the exact correct figures.

Lovbnmoma · 05-06-2013 05:28PM

Yeah im absolutely shattered but I better do a bit this eve. Today kind of threw me I was so prepared for f7 not half as prepared for f9.

frogstar · 05-06-2013 06:50PM

Lovbnmoma there's a decent article in the student acct magazine from 2011/2012 that is helping me make sense of business valuations

Worth a read if you havent read it yet

Lovbnmoma · 05-06-2013 07:01PM

Thanks do you access it via the website? Just getting stuck into the past papers now. Head is melted though!;-)

frogstar · 05-06-2013 07:11PM

Yep. Here it is. It's quite simple but my head was wrecked for awhile. I kinda understand it a bit better now

http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012s/sa_feb12_f9_valuations.pdf

There's a few more here. That reminds me I haven't looked at Islamic finance. Must read that!

http://www.accaglobal.com/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f9/exams-f93.html

optimistic_ · 06-06-2013 05:02PM

How's the nerves folks?
Have to say, I'm feeling okay about this now.
Although I felt okay about Wednesday too

Lovbnmoma · 06-06-2013 06:28PM

Hiya! I was a bit stressed bout it earlier and now I couldn't care less just want it over with now! Just going over notes again now. Still not very confident about it. Any last min things to look at?

frogstar · 06-06-2013 08:28PM

I get worried when I'm not worried!

Went through all the past papers today and my notes

Was iffy on a couple questions but plan to head in early tomorrow to attempt them again.

Not sure I can handle another year and a half of this!

optimistic_ · 06-06-2013 08:35PM

I've been concentrating on the theory for the last couple of hours

I guess just be very confident in NPV's, be able to calculate the cost of debt for bonds, and cost of equity with capm - be comfortable with WACC and getting the market values of the debt and equity to use in the formula.

Be able to explain the steps for risk adjusting a discount rate for a project outside of the normal business risk of the company (de-gear, re-gear, CAPM)

Always be sure you're using the after tax costs of debt Kd(1-T) - watch out in case the question has already given you the after tax cost - although i can't see any more than half a mark being lost if you used the wrong cost of debt - it's all method, the marking schemes are all aimed at method.

And the theory, go over past papers for all the part c's and d's that ask a question like "what are the aims of working capital management and how do they conflict?" - liquidity vs profitability, the strategies of aggressive, conservative and moderate/matching.

You'll be fine though, and hopefully tomorrow is your last exam of the summer too? Have a deserved few drinks in the sun tomorrow evening!

Best of luck! I'm sure I'll be back here tomorrow to discuss how it went!

optimistic_ · 06-06-2013 08:38PM

There are some questions in the past papers that completely threw me, and I hope nothing like them come up. I'm very confident on the bulk of the questions - but all it takes is one of the ones i'm not happy with to come up. It's a risk.

Once tomorrow morning hits, that's me done with study. I get too nervous if I have a look at books the morning of the paper!

Lovbnmoma · 06-06-2013 08:52PM

Thanks for the advice! Yeah thank god its the last for summer. I had a look through the past papers there and was the same a couple of the questions threw me but I think I have the theory part in my head ok now. Well very best of luck tomorrow and hopefully we will get a good paper!

frogstar · 07-06-2013 01:49PM

Well.... I thought it was ok.

Didn't like q4 and kicking myself re q1 as I read about the fisher formula last nite and today but could I remember it! Nope

After looking at OT I realise that I forgotten to include the bank loan in the wacc

Ah well. Sitting in the hair dressers now getting my hair done for tonight!

Enjoy! !

optimistic_ · 09-06-2013 09:04AM

Q4 was tough actually, and I hadn't gotten a lot done for exchange risk, thank God that was such a small part of the question it came up in!! Thought the rest was actually really ok, I'm much more confident in that than F7!
If I pass both i think I'm going to home study the rest

Lovbnmoma · 09-06-2013 07:07PM

Hiya I thought question 4 was hard too but the rest was grand. Im definitely more confident about that one than I am about f7 too. At least I got time to go over the answers with f9! Im now suffering today with an outrageous hangover but it was worth it. Dont know what to do with myself in the evenings now! I have studied all so far at home just did a revision course for f6 but done the rest at home. Hopefully onto the p papers in dec and will also do them at home.

F9 - anyone willing to share revision plan?

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