ACCA F9 Jun-17 Exam Review

Updated: Apr 23, 2019

ACCA F9 Jun 2017 session pass rate is satisfactory at 46%. Since the new ACCA F9 exam structure has implemented, pass rates are ranging from 40% to 47% (simple average at 44.5%). As compared to the old structure from Dec 2014 to Jun 2016 sessions, which we find the pass rates are ranged between 35% and 46% (simple average at 41.3%), it’s appreciated an improvement on overall pass rate.

However, there are some areas we would like to highlight here in order to help students attempting ACCA F9 paper to get better preparation based on Jun 2017 session examiner’s report.

Investment Appraisal

One of the very important areas in ACCA F9 exam is investment appraisal. To master well of investment appraisal techniques, you are advantageous to take ACCA P4 (Advanced Financial Management) exam as it remains the core skill. In ACCA F9 Jun 2017 exam session, common mistakes noted include some students did not identify correctly on future cash flows, did not use appropriate discount rate and show difficulty to allow inflation and taxation in DCF calculation.

Business Valuations

Common error is not correctly identifying the required rate of return to value shares. In addition, techniques in valuing different type of financial instruments is an area to improve.

Risk Management

Lacking understanding of the features of risk management derivatives is the key issue in this topic. Some are struggling for both foreign exchange rate and interest rate risk management.

Management of inventories, account receivables, account payables and cash

Some students confused between cash operating cycle and net working capital, which the former one means number of days and the latter one refers to monetary value. Some are also required to understand and apply working capital ratio, not only showing how to calculate the ratios but also comment the company performance with similar companies. Finally, students are better to show they know the working capital funding strategies.

ACCA F9 exam new structure has been executed for 1 year. From our study of each exam session Examiner’s Report, the overall performance is better than the old structure. It is well supported from higher pass rate. We are waiting for ACCA F9 Sep 2017 pass rate and Examiner’s Report to have more information to do our analysis. We are delighted to share our findings to all ACCA F9 candidates.

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