F8 Exam tips – June 2012 sitting

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  • Profile photo of ansi
    ansi
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    More tips will be added in a while. Keep checking for updates.

    Opentuition

    1 Inventory count.
    2 Nature of an assurance assignment/internal audit
    3 Going concern and analytical procedures
    4 Computer assisted audit techniques
    5 Contingent liabilities

    best of luck with exam!
    ansi


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    vincinou
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    Any more tips for the June Exam 2012??


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    ansi
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    updates:

    BPP

    • Audit planning and identification of audit risk, audit procedures and internal control.
    • Responsibilities of directors and auditors.
    • Definitions – assurance and audit regulation.
    • The 20-mark questions: ethics, planning, audit risk explanation, specific transaction audit, internal controls and audit, management representations, going concern and audit reports.

    Kaplan Financial

    • Assurance engagements.
    • Ethics including fundamental principles.
    • Systems – non-current assets, purchasing (including tests of control).
    • Evidence – non-current assets, share capital/reserves, bank and cash, payables.
    • Completion (ISA 570 – going concern).

    First Intuition

    • Substantive audit procedures and tests of control on a key area of the statement of financial position,
    eg inventories or non-current assets.
    • Audit risks.
    • Identifying and explaining the threats to auditor independence and ways of managing them.
    • Management letter: identifying the weaknesses, consequences and recommendations in a particular company.
    • Subsequent events.


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    salman2222
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    BPP is more likely


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    salman2222
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    F8 June 2012 : For sure following are the chapter you cannot ignore if you wanna pass F8. Here are the chapters:
    1. Ethics ( threats and safeguards to independence/ how an auditor accept an appointment )
    2. Planning and risk ( especially Audit risk and its application- should be good at picking risk from scenario and commenting upon them- should also know the definition of audit risk and three components well) / what impact on audit strategy of selected audit risk level.
    3. Internal controls ( something you cant rule out from F8 paper / sales and purchase system looks at top priority)/ Test of controls too
    4.Substantive procedures ( again receivables/ payables/ sales / purchases / inventory looks important)
    5. Review ( Subsequent events / going concern)
    6. Reporting ( looks important – again opinions in a given scenario)


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    Lynn
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    salman2222 thank you for your notes but i have a few questions ?
    are your lsbf notes relavent to june 2012 exam ? can i solely rely on these ? does anyone have the notes on the standards in brief key standards and examinable points ,please do post or tell me were i can find them ? thanks


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    soheb20092
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    hey dear anyone having the answers for the LSBF mock exams June 2012???????please do mail me back if anyone of you can help…many thanks


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    sA
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    hey me too i want the mock exams answers…anyone can help out pleaseeeeeeeeeeeee


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    egyayaw
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    Pls can anyone mail the Answers to the LSBF mock anwers to me???…My mail is byestiga@yahoo.com. Thanks


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    billiebob1
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    What is this, what each learning institution believe will come up?!

    xx


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    Eloy Jackson
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    @billiebob1 said:
    What is this, what each learning institution believe will come up?!

    xx

    all they try is to gamble! and its actually WE the students who pay the price lol


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    soheb20092
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    hey anyone got the mock exams answers?????


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    billiebob1
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    so Soheb, i learn with Kaplan so don’t really know what you mean x


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    saisai
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    Can anyone get me the Definitions of assurance and audit regulation please?
    Thanks in advance


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    sunshiqi888
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    Gob bless everybody, thx! It’s definitely worth a try although not a sole reliance!


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    garygood
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    Apparently F5 was a disaster today. Just read some of the comments on their Forum. Is that what’s in store for us in F8, I wonder? Really scared, folks. Basically, I’d give these tips a wide bearth and revise topics that have not been tipped by anyone!

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