Part 2 Exams

AugustusMinimus

How did everyone find them. Found Business awful, Personal fairly bad but the last two days haven't been too bad.

I thought they did a hatchet job with the Business paper which had little of what was expected. The losses question was appauling.

Legend100

thought personal was a disaster, totally misjudged the time for my questions and wasnt happy with anything i wrote in the whole paper esp the first question for the prsi and income levy calculation

busines, not too sure, that losses q was terrible, your right, never had one with a case 1 loss in the middle before so didnt know what i was doing with the order

vat....well never too sure what is going on in that to be honest, that thing with the helicopters, not a bulls!!

today was grand thankfully!

REDSOCKS22

yeah today was grand caught for time though! but VAT was a bit tricky...does anyone know the story with that helicopter question??

sky55

its great to be done. Thought personal was ok but i just got lucky on what i had looked over that morning. Business was always one i was dreading along with VAT..and they didnt fail to disappoint...im hoping to scrape a pass though. I can see how you could collect some marks in business if your borderline..but VAT im a bit nervous. Today was grand- although i thought it would have been easier, was not prepared for discretionary or the length of the qs!

Anyway i hope everyone gets on ok.

As for the helicopter..I havent a clue and i think ill survive not knowing...as long as s/he doesnt insist that im back in August- Fingers crossed!

Mr. Incognito

I'm never one to advocate dissection of exams but I'm curious as to what this helicopter business is- can some one fill me in?

Is it transport of passengers cross border- in which case it is a VATable expense under section 12 VATA or else intra transport is exempt or is it something totally different.

Just curious can someone post the Q?

AugustusMinimus

My take on it was that all transport of people via plane is exempt as its in 1st Schedule.

However flying internationally is a qualifying activity under Section 12 while flying domestically is not.

I basically said that the company would only get deductibility on expenses for their international operations.

gallyer

Yeah personal didnt go great, thought i was well enough prepared for it, think i done enough to scrap a pass, wouldn't be overly confident though. Business was a disaster, dont think i passed it, on a brighter note although Vat was tough im confident i got it, and capital although the questions were very long i think i done pretty good in it. We may as well forget about them until June now anyway!!