acca
acca exam tips June 2011
ACCA December 2012 exam tips are available here >>
ACCA Exam tips June 2011 below
Please Note ACCA Exam Tips should not be relied on – they are only intelligent guesses. Their only purpose is to give you suggestions for topics to concentrate on in your last few days of preparation. Do not exclude other topics from your overall preparation.
Tips for ACCA F1 – F3
No exam tips available – Multiple choice questions cover entire syllabusExam Tips for ACCA F4 Corporate and Business Law (Eng)
English legal terms, q6 Precedent: terms June 09, q7 Legal terms June 05 Consideration, q 24 Consideration June 09, q25 Forms of consideration December 02 Company constitution, q 69 Articles June 04 ( amended ) Employment law, q45 Employed v self-employed June 08, q 46 employment contracts June 10, q47 Employer and employee duties December 09 Tort, q41 Auditor's duty of care December 09, q42 Standard of care June 08 Meetings, q85 Meetings Pilot paper Directors' appointment and removal q88 Appointment and removal December 03 Typical question 8 - based on contract with analysis of "invitation, offer, counter offer, option period, acceptance, breach" q12 Alvin December 08, q13 Ann's Art December 01 ( amended ), q14 Ali December 07 Advise a potential investor about "Equity shares, preference shares, fixed debentures and floating debentures" q75 Shares and debentures June 08 Corporate governance q103 Directors and corporate governance Pilot paper, q 104 UK Corporate governance code ( BPP question ) Auditors qualifications, powers and duties q95 Auditors II December 07Exam Tips for ACCA exam F5 "Performance Management"
1 Target costing / Lifecycle costing / written on environmental management accounting 2 CVP analysis (or possibly decision making under uncertainty) 3 Learning curves 4 Mix & Yield variances 5 Divisional performance measurementExam Tips for ACCA exam F6 "Taxation" (UK)
F6 is very predictable so no tips as such Practise as many exam standard questions as you can. Make sure you do to time. After the 15 minute reading time you have 1.8 minutes per mark. If a question is split between part (a) 10 marks and part (b) 10 marks then only spend 18 minutes on part (a) and then move on to part (b). Look at all the requirements of the question, can you answer an easy parts first, for example one part maybe standalone and on something very straightforward, so do this part first You do not have to answer the questions in the order they are set, if question 5 is the easiest do this one first. Question 3 will be the hardest so leave this until last but make sure you leave 36 minutes to answer it. Do not panic if you can't remember something in a question, don't spend too much time trying to remember it, have a go or even guess. Then you can move on to other parts of the question. Above all you need 50% to pass, so find the marks you can do. There will always be more than 50% of the question which is examining core areas of the syllabus, only a few marks will be fringe areas, but you do not have to worry about these as you can find the 50 marks you need to pass.ACCA Exam Tips for Paper F7 Financial Reporting (INT)
Q1 Consol Statement of Financial Position and Statement of Income Subsidiary acquired part way through the year, Associate held for full year, provisions for unrealised profits, intra-group balances to reconcile, mixed purchase consideration, full fair valued nci Q2 preparation of financial statrements from trial balance or from drfat accounts including statement of financial position, statement of income and statement of changes in equity. Loan interest adjustment, revenue recognition problem, depreciation on staright line and reducing balance basis, operating lease to be re-treated as finance lease, deferred tax movement ( some to go to revaluation reserve ) and current tax to provide Q3 Cash flow with possibly a 5 / 7 mark chat Qs 4 and 5, any two from: IFRS 9 Leases Earnings per share Construction contracts and, as a long shot, Borrowing costsACCA Exam Tips for Paper F8 Audit and Assurance (INT)
Q1 Sales system; receivables circularisation, bad debt provision Q2 5 Requirements of an assurance engagement. Reliance on experts. Q3 - Q5 Events after the period end: adjusting/non-adjusting Computer assisted audit techniques Going concernACCA Exam Tips for Paper F9 Financial Management
1 Working capital management - Miller-Orr; cash budget; receivables 2 Rights issue of shares / Foreign exchange risk management 3 NPV with inflation and tax (possibly Capital Rationing) 4 Weighted average cost of capital calculation with CAPM / calculation of asset betaACCA Exam Tips for P1 exam
"other" organisations - as per D Campbell's recent article Agency ( Hesket Nuclear June 2010 ) Audit committees ( Chen Products December 2008, Code of Conduct - BPP question 42 in BPP revision kit ) Internal control, internal audit and compliance ( Coso June 2010 ) Risk and risk management ( H and Z June 2009, CER - BPP question 55 in BPP revision kit ) Risk targeting and monitoring ( Saltoc June 2009 ) Ethics approach ( Mary Jane December 2009 ) Social and environmental matters ( Hesket Nuclear June 2010 ) A "numbers" question ( X - BPP question 27 in BPP revision kit )ACCA Exam Tips for P2 exam
Question 1 Foreign consolidation ( Memo 06.04 and Ribby 06.08 ) with 15 - 17 other marks covering such as ethics, corporate governance, environment and reasons for excluding subsidiaries from consolidated accounts Qs 2 and 3 multi-IAS / IFRS questions with strong possibilities of IFRS1 and IFRS9 ( Implementing IFRS 06.08, Handrew 06.05 ) but also reconstructions ( questions 62 and 63 from BPP revision kit ) Q4 Leases, deferred tax and management reports - based on Lisa Weaver's article from Student Accountant ( April 2011 (?) )ACCA Exam Tips for P3 exam Business Analysis
Question 1 Q1 SWOT, takeover/merger/diversification Questions 2 - 4 Q2 Project management. Benefits: observable, measurable, quantifiable, financial Q3 Strategic use of IT Q4 People and strategyTips for Paper P4 Advanced Financial Management
Section A 1 NPV / WACC / Gearing & ungearing betas 2 Foreign exchange risk Section B 3 Interest rate risk 4 Option pricing (real options) 5 Written!Tips for Paper P5 Advanced Performance Management
Section A 1 Divisional performance measurement 2 Decision making under uncertainty Section B 3 Reward schemes 4 Non-financial performance measures 5 Total quality managementTips for ACCA P7 Advanced Audit and Assurance (INT)
Response to an email - ( Grape 12.09 and Bataleur Zoo Gardens 2008 ) Ethics question ( Corundum 06.02 ) Business risk and management ( Hydrasports 12.02 ) Matters to consider and evidence you should expect to find ( Albreda 12.05 ) Social and environmental issues ( Shire 12.05 ) Internal audit and outsourcing ( Mac 06.10 ) and corporate governance somewhere in the exam Words in brackets refer to questions in the BPP 2011 revision kitTips by other providers (BPP, Kaplan, LSBF):
F4 tips, F5 tips, F6 tips, F7 tips, F8 tips, F9 tips,P1 tips, P2 tips, P3 tips, P4 tips, P5 tips, P6 tips, P7 tips
Q2 I think will be income tax IAS 12, but reconstructions may also be relevant.
Management report is good enough, but it would be easy to tackle, so in this "hard" session (according to Pass rates)it isn't apear, I suppose.
As regards those who is taking P2 or P3, what do think about these tips, are they realistic (for ex. 60-70% confidence???)
Of cause I no that nobody can garanree confidence, but anyway.
Thanx
it was simply a typing error
okwuchi: tips are tips, you should learn everything that is in the syllabus!
Relying only on tips will lead you no where