STANDARD OF THE PAPER The paper was administered in August 2022 examinations. The paper covered all relevant topics of the syllabus and the questions were standard and comparable to other accountancy examining bodies. Mark allocation to the questions followed the weighting in the syllabus. It was also found that marks allocated to questions were commensurate with the amount of work and time required. In general, appropriate marks were fairly allocated to the time and load required from the students to answer each question.

PERFORMANCE OF CANDIDATES The general performance of the candidates was average. Most candidates answered Question 1, Question 3 and Question 4 very well and even significant number of candidates passed the paper heavily as a result of these questions. High performers were very few and spread across all centres. Low performers were also spread in all centres but certain centres registered more low performers than the others. Question 2 appeared difficult to the candidates as many could not relate the statement in the question to the effect that monthly sales are evenly distributed within each quarter. This statement was not properly and correctly considered by the candidates when answering the question. Question five (5) also appeared a bit tough for reasonable number of candidates in identifying and using the high and low levels of activities in twin-desk in the calculation of the fixed cost and variable cost. Quite a number of the candidates openly deviated by using trend analysis meanwhile, the question clearly specified that High-Low method should be used.