ACCA DEC 2013 EXAM TIPS(BY OPEN TUITION): Tips for ACCA F1 – F3 No exam tips available – Multiple choice questions cover entire syllabus ACCA Exam tips for Paper F4 English 1 Criminal law, civil law and arbitration (D07) 2 Define consideration, sufficient and adequate (J09) 3 Terms, representations, express and implied (J09) 4 Limitation on choice of company names, passing off, names adjudicator (J09) 5 Meetings, AGMs, OGMs, Class (Pilot) 6 CDDA grounds and explanation (J09) 7 Corporate governance: rights, duties and role of auditors (D07) 8 Contract offer, counter offer, goods in shop window (D07) 9 Shareholder liability on partly paid shares (Pilot) 10 Fraudulent and wrongful trading (D09) ACCA Exam tips for Paper F4 Global 1 Criminal law, civil law and arbitration (D07) 2 Arbitration advantages and disadvantages, statement of claim and defence (J09) 3 Sale of Goods, passing of risk (J08, D09) 4 Limitation on choice of company names, passing off, names adjudicator (J09) 5 Directors’ authority:- express, implied, apparent (Pilot) 6 Incoterms – the 3 new ones - 7 Corporate governance: rights, duties and role of auditors (D07) 8 Contract breach re quality and price (D07) 9 Shareholder liability on partly paid shares (Pilot) 10 Fraudulent and wrongful trading (D09) ACCA Exam tips for Paper F5 1. Target costing and Activity Based Costing 2. Linear programming 3. Variance analysis with Mix & Yield 4. Budgeting written question 5. Financial and non-financial performance of a division ACCA Exam tips for Paper F7 • Consolidated Statement of Financial Position AND Statement of Income, mid-year acquisition, share for share exchange, nci value based on share price, fair value upward adjustments, intra-group sales and pups, goodwill impairment • Statements of Financial Position, Income AND Changes in Equity, list of balances, problems with revenue recognition (consignment goods), inventory adjustment, TNCA revaluation, depreciation straight line and reducing balance, loan interest accrual, tax provision and deferred tax movement • 20 mark cash flow (last time there was a question WITHOUT interpretation was December 2011) with a part b 5 mark chat • 15 mark question covering 2 or 3 IAS with short, relatively straight- forward calculations. Possibles? Could be anything, but here are 3 wild guesses:- subsequent events, leasing and borrowing costs • 10 mark question – could be something like development expenditure, complex depreciation question or (relatively easy) earnings per share ACCA Exam tips for Paper F8 • Receivables system and receivables circularisation • Computer assisted audit techniques • Corporate governance • Audit risk and planning • Assertions and audit evidence/procedures Remember, if asked for audit procedures state which assertion the procedure helps with. ACCA Exam tips for Paper F9 1 DCF – Lease & Buy and/or Replacement and/or Capital Rationing 2 WACC (including CAPM) + theories of gearing 3 Cash Management and Inventory Management. Written part on interest rate risk. 4 Share valuation + written on market efficiency + sources of finance. ACCA Exam tips for Paper P1 • 5 part 50 mark question touching on risk, ethics, environment, internal controls with 16 – 18 marks for drafting a report / briefing notes / press release / magazine article • Corporate governance with internal auditors and internal controls. Risk management, committee, mitigation • Sub committees under corporate governance, their roles, functions, objectives, make up • Kohlberg and attitudes to ethics compared with Gray, Owen and Adams and their 7 sub-categories ACCA Exam tips for Paper P2 • Consolidated Statement of Cash Flows (long time since asked!) OR tent structure including a foreign subsidiary (35 marks); 8 marks of corporate governance and 7 marks chat about management commentaries • Scenaria question with 4 problem areas worth 5 – 7 marks each with up to 12 references to IAS / IFRS. Occasionally, the directors will have proposed an appropriate treatment – just occasionally! So, be aware that the proposed action may in fact be ok – it’s not always a poor choice by the directors • Similar to question 2 – a scenaria question with 3 – 4 parts worth anywhere from 5 – 12 marks with up to 6 references to IAS / IFRS • Current issue question – the last 3 have been on proposed revision to IAS 37 Provisions and Contingencies, IFRS 13 Fair Values and heavy discussion about how much disclosure is “enough” and how much is “too much”. There hasn’t been a 25 marker on Management Commentary since it started to become a fashionable discussion topic ACCA Exam tips for Paper P3 • Strategic appraisal and strategic recommendations. Portfolio management • Business process change: Harmon’s Process Strategy Matrix; Balogun and Hope Hailey. • Use of IT for marketing and improving the value chain • Activity based costing and pricing ACCA Exam tips for Paper P4 Compulsory question: Report including: Investment appraisal of foreign investment with inflation / tax / forecasting of exchange rates Calculation of WACC (involving CAPM) Consideration of various sources of finance Choice questions: Interest rate risk management Option pricing Written question relating to the transferring of profits to countries with lower tax rates, by multi-nationals. ACCA Exam tips for Paper P5 • Stakeholders; reward systems • Boston consulting group • Performance management and measurement in not-for-profit organisations • Economic value added • Use of IT in performance reporting ACCA Exam tips for Paper P7 • Respond to an email from a partner – possible subject matters include risk of material misstatement, corporate governance and the role of the auditor, ethics • Practice management, recruitment, training, review • Discovery of evidence of insider dealing, offences against the Bribery Act and suggested auditor action • Assurance services, ethical and professional issues • A scenario question with 3 or 4 contentious matters with the requirement of “Comment on the matters above and explain the procedures you should expect to have been followed”
Posted on: Mon, 25 Nov 2013 16:06:08 +0000
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