#MMUs #June14 #ExamTips #ACCA F7 * Q1: Consolidation with usual mix of consolidation adjustments. Detailed good will calculation with various elements to the consideration for the subsidiary. * Q2: Trail balance and adjustments questions preparing SFP, statement of P&L and OCI and perhaps a statement of changes in equity. * Q3: Analysis question including cash flow. * Q4 & Q5: Asset based standards – calculating initial cost of assets, impairments, construction contracts, leases and investment properties. * Provisions. *Inventory, revenue recognition and substance. F8 • Internal control assessment and testing. • Audit risk assessment – linked to a new client acceptance and consideration of ethical issues. • Ethics. • Audit evidence – going concern issues. • Audit reporting – content of audit reports, modified reports. • External auditor’s right and duties. F9 • Investment appraisal – more than likely calculating an NPV of a project with inflation and tax. • Working capital management: managing accounts receivable, accounts payable, inventory levels, cash. • Business valuation: Can you work out the value of equity using the dividend growth model and/or P/E ratio? • Foreign exchange risk management. • Sources of long-term finance. • Effects of a rights issue. P1 • Need to know Kohlberg, Gary Owen and Adams and AAA. • Ethical conflicts. • Risk identification/analysis – identify controls. P4 • Discount rates and valuation in a takeover scenario – ways to pay for a takeover target. • Foreign exchange rate risk, real options, bonds and interest rate swaps. Courtesy : MMU , PQ
Posted on: Sat, 24 May 2014 13:30:00 +0000