ACCA/CAT

General Comments

The structure of the paper was similar to past papers with two compulsory questions in section A，consisting of 60 marks，and three 20-mark questions in section B，of which candidates had to do two，for the remaining 40 marks.

The overall performance of the candidates was satisfactory

In section A，question one consisted of 28 marks and question two consisted of 32 marks. Four professional marks were allocated to question two. Both questions required candidates to undertake computations and discussion. In section B，as per previous sittings，question four was wholly discursive，while questions three and five consisted of a mixture of computational and discursive elements.

Excellent answers were obtained from candidates who applied their knowledge to the given scenario in the question. The presentation of such answers was good，with clear labelling and structure. In question two especially， a clear structure and effective use of appendices enabled such answers to gain the maximum professional marks. Most successful candidates attempted all the parts of the questions and managed their time well between questions.

Many candidates attempted the required four questions，although there were a number of instances where parts of a question were not attempted，especially in the compulsory questions. In section B，most candidates answered all the parts to the question.

In a minority of cases there was poor time management with candidates having to rush through the latter questions. Candidates need to bear in mind that it is easier to obtain marks at the start of a question rather than towards the end of a question. It is imperative that candidates learn to manage their time effectively through practicing past exam questions under timed and examination style conditions.

Some candidates were poorly prepared for the exam in terms of their knowledge. This was especially evident in question three. Candidates need to be aware that for P4 it is expected that candidates develop their knowledge and the ability to apply that knowledge to current issues in finance. Question three was using the example of the recent financial crisis as a basis for knowledge application and discussion. Many candidates failed to achieve high marks due to lack of knowledge and not being able to apply that knowledge to the scenario in the question.

The P4 paper has a large syllabus and numerous technical areas. Candidates need to know the syllabus well in order to apply it to the question scenario. Poor performance was also evident where candidates did not read the content and requirements of questions fully. Answers need to be directed at the scenario in the question， general answers did not gain many marks.

The presentation of the answers with clear structure， labelling and workings is very important across all the questions and especially so where the question has professional marks allocated to it. Question two consisted of four professional marks and given that many candidates missed a pass by only a few marks， gaining these professional marks is vital. Well presented answers demonstrate to markers and the examiner that the candidate has the necessary knowledge and application skills.

（责任编辑：中大编辑）

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