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Application Marks

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Application Marks

Post  Moderator1 on Thu Jan 27, 2011 9:18 pm

We get 15 marks under Application for Application of unseen material to business models and doing calculations.
Generally we can assume that 7 marks for Business models and 8 for calculations.

7 Marks for business models.

SWOT- 3 marks (it is difficult to get 3/3, but 2/3 is possible)
Mendalow- 1 mark
SAF- 1 mark
Ansoff/ 5 forces/PEST/PLC/BCG etc - 2 marks

It is difficult to get 7/7, but 5/7 is easy and possible.

8 marks for the calculations.

For calculations the examiner offers you a mark out of 8, please mention your assumptions, it is difficult to get 8/8, but 6/8 would be possible if you practice your calculations well!

So you are clear that it is easy to get at least 10/15 for Application. (67%). Do not try for 15/15, you will run out of time. Try to obtain a clear pass mark here!
How easy T4 is?! Very Happy

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Application and PEG

Post  Moderator1 on Fri Jan 28, 2011 8:37 pm

This is from Post Examiner Guide for September 2010

Application:
Rationale:
The point of the Application criterion is to assess how well candidates use the techniques, frameworks and calculations to support their analysis of the issues in the unseen material and their subsequent recommended actions.

Suggested approach:
Candidates are advised to ensure that they apply relevant models, techniques and frameworks correctly, given the case material. Thus it is important that rather than just regurgitating the model or framework, it is presented in such a way so that it conveys information which is relevant to the case. It is then expected that candidates use this information in their discussion of the issues. This also applies in respect of calculations, which should also be relevant to the information given in the particular case. The use of NPV analyses to evaluate an investment proposal is a well used technique which candidates should be familiar with and should be able to prepare accurately.

Marking guide:
Marks are available for the relevant application of techniques, models, frameworks supporting calculations but only if the candidate applies them to the specific case. Marks were awarded for the application of models to the case material and for relevant calculations.
Candidates who carried out sufficient numerical analysis were well rewarded. There was plenty of scope in this case to obtain high marks under Application if candidates had grasped the opportunity. In particular, marks were available for calculating the programme costs, operating revenue and return on commissioned revenue of the new daily programme. Further marks were available if the candidate calculated the effect on operating profit if the overhead costs were not charged to the programme. Evaluation of the new computer graphics packages also gained marks if they were done correctly. Failure to undertake either of these calculations meant that the candidate was not really meeting the requirements of the question as for both of these issues, some calculations were required in order to carry out a comprehensive review

Commentary:
Most candidates provided a SWOT analysis although there were some candidates who did not. It was apparent that some candidates pre-prepared their SWOT analysis based on the pre-seen material and did not update it in the light of the unseen material. Such SWOT presentations earned very few marks as often the key issues, as presented in the unseen material, were not included. The candidate should ensure that all the prioritised issues are included in the appropriate quadrant of the SWOT. The SWOT should have included the damage to the VT equipment as a threat, the new daily programme as an opportunity and the advertiser funded programmes as either an opportunity or a threat.





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Application and PEG Common Errors

Post  Moderator1 on Fri Jan 28, 2011 8:48 pm

You need to be aware of common errors in order to avoid them in the exam. You might not believe that they have done by T4 students. But unfortunately T4 students have forgotten their fundamentals. Crying or Very sad
Following is extracted from the same PEG.

Common errors:
Some candidates’ SWOTS omitted some or all of the issues identified above in their SWOT analyses.
While on the whole most candidates applied the technical models and theories they cited, some did not. It should be clearly noted that this is not an exercise in overwhelming the marker with knowledge of all the models and theories the candidate can think of. The models and theories are useful only if they are applied to the case material and are marked accordingly.

There were a whole range of errors relating to the calculations made by candidates as follows:
(Included only a few here)
Multiplying the dollar value by 1.6 instead of dividing to convert into £ sterling
Failure to discount the cash flows over the three years,
Including depreciation in the NPV calculation
Only calculating the new daily programme costs and ignoring the operating profit and return.
Failure to take account of the effect of overheads in the calculation of programme costs for the new daily programme.

This is a long list of errors which are not acceptable at this level. An employer would not be willing to accept such fundamental errors in such a report and candidates must understand that the marker will seriously doubt a candidate’s competence if he or she is presented with such error strewn calculations. It is appreciated that there is a time constraint in the examination, but candidates must realise they are close to becoming qualified management accountants. This implies that they are numerically competent and errors of this nature cannot be condoned. These were not difficult or complicated calculations.





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