b) required an explanation of the implications of the governance changes needed should a venture capitalist provide the equity funding needed for the hotel project.

Candidates who answered in context and used the case evidence to explain the implications were well rewarded achieving good technical and professional marks.Many answers focused primarily on loss of control and did not consider other significant areas such as changes to remuneration and developments in control and performance reporting. Some candidates made the same point regarding loss of control in as many ways as possible.

Candidates should try to avoid repeating points already made. Points should be developed not repeated and the learning support material produced by the ACCA examining team around professional marks has emphasised that basic repetition without further development, shows a lack of general professionalism.

Many candidates discussed governance changes that will not be required or helpful for Nehby or the venture capitalist as it will remain a private company with a small number of shareholders after the involvement of the venture capitalist. Candidates should only make relevant points and try not to include superfluous information or make unsupported points.