Mid-semester Test 2 2012 Sem 1 (Solutions to Analysis Questions (section B) and comments) General comments (1) Both the analysis questions were taken from the lecture examples, additional exercise, workbook exercises and practice test. Students who had worked through these materials were competent in handling the mid-term test. Students who believe that they did not perform as well as they had expected should going through the lecture materials and workbook more thoroughly before the final exam. You may also want to work through the mid-term 2 to identify the gaps in your understanding. It is important to focus on the topics that you have not achieved an adequate mark. Please see the final exam format announced on Blackboard. Note: You have to pass the final exam in order to pass the course. The final exam is three weeks away. You can do well in the final exam if you start preparing now. If you are short of time, the best strategy is to go through the lecture notes very carefully and make sure you work through all the examples. Try as many of the questions in the workbook. Students in the past have done reasonably well in the final exam even though they may not have done well in the mid-term test. The trick is to put in more effort at understanding the topics. Students who wish to discuss how to do well in this course should make an appointment to see me. My consultation hours in the revision week and the week of the exam will be on Wednesday 10:30-12:30pm. Note that the Friday consultation time is moved so that students can consult me prior to the examination on 15 June 2012. (2) Other than the usual problems of not preparing adequately for the examination, marks are lost because students did not read the question carefully. I have written down “Read Q” in the script to indicate that you should read the question carefully before you answer the question. Some students do not answer the question. Please understand the question first before attempting it. Please ensure read the questions carefully during the final exam. During the examination, if you find that you are spending a lot of time preparing tables and doing calculations for a question, you may want to pause and re-read the question and think about what the question really requires you to do. One of the most common mistakes in this mid-term is to recalculate the PV of the lease in question 2. The amount is already given in the question. No marks are awarded for calculations that do not relate to the question. (3) Some students do not organize their answers in tables and waste a lot of time repeating words and phrases. For instance, for the question on deferred taxes, some students write out carrying value, tax base, temporary difference, deferred tax liability for each of item in the question. You really don’t have the time to do it. You can always set up a table (like the illustrations in class and the textbook). A guide to how to present your answer concisely is to look at the solutions in the lecture notes and text book. You can apply that in the exam when a similar question comes out.
(4) Overall comment: Please work through (at a minimum) all the examples covered in class and the workbook exercises. You will be able to do even better in the examination. You may want to work through the mid-term exam again without looking at the solutions. Determine how and why you have made those mistakes. Take note of any misreading of the questions. (5) Statistics of mid-term 2 test (based on 15 marks) median mean maximum minimum count 9 9.11 12.5 5.5 118
(6) In the solutions that follow, please note the layout and the manner in which the answers are given. Try to apply this in the final. My answers are brief, however in the final you may want to elaborate on your answers. Note that all the questions have been adapted from material covered in class. It is very important to go through (at a minimum) your...