ACCA Exam Tips December 2012 exams

June 2013 ACCA Exam tips

 are now on line:

https://opentuition.com/acca/acca-exam-tips-june-2013-exams/ 

The only purpose of the ACCA Exam Tips December 2012 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.

To get the most from your preparation, make sure you watch all OpenTuition ACCA lectures, and practice as many past exam questions as possible! Also check all the latest Student Accountant Technical Articles.

Tips for ACCA F1 – F3

No exam tips available – Multiple choice questions cover the entire ACCA syllabus

ACCA Exam tips for Paper F4 English

Q1 Statutory rules of interpretation Q1 December ’09

Q2 Anticipatory breach Q2 December ’08

Q3 Terms, representations and warranties Q3 June ’09 or Remoteness of damage in tort Q3 December ’07

Q4 Lifting the corporate veil Q4 June ’08

Q5 Meetings AGM, OM, Class Q5 Pilot paper

Q6 CDDA grounds and explanation Q6 June ’09

Q7 Apparent, ostensible authority of agents Q7 June ’08

Q8 Contract law, offer, counter offer, option period, breach Q8 Pilot paper

Q9 Partnership liability, sleeping, retired Q9 June ’08

Q10 Bribery Act Opentuition notes

ACCA Exam tips for Paper F4 Global

Q1 Role of Uncitral and WTO Q1 Pilot paper

Q2 Arbitration, recourse against an award Q2 December ’08

Q3 Sale of goods, seller’s obligations Q2 December ’07 or Incoterms, the new ones Student Accountant last year

Q4 Lifting the corporate veil Q4 June ’08

Q5 Meetings AGM, OM, Class Q6 Pilot paper

Q6 CDDA grounds and explanation Q6 June ’09

Q7 Bills of exchange, definition, meaning, endorsement Q7 June ’09

Q8 Part performance of contract and breach Q8 Pilot paper

Q9 Partnership liability, sleeping, retired Q9 June ’08

Q10 Bribery Act (Opentuition notes)

[F4 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA F5 Exam tips

1 Activity Based Costing

2 Linear programming

3 Planning and Operational variances

4 Performance measurement – mainly non-financial

5 Budgeting / Learning curves

[F5 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper F6

Question 1
Income Tax Computations & NIC’s
Computations for husband and wife, including
Employment Income with benefits
Trading Profit – possible cessation with adjustment of profits and Capital Allowances
Joint Investment Income
Due dates

Question 2
Corporation Tax & VAT
– Adjustment of profits
– Capital Allowances
– Accounting Period straddling 2 Financial Years and/or possibly a short period
– Use of losses including group relief of losses
– Output tax and Input tax for VAT return
– Group VAT registration
– VAT on Exports & Imports and trading within EU
(VAT issues could be in Q.4 or Q.5)

Question 3
CGT
– Transfers of assets between spouses
– Gift of shares and availability of gift relief and entrepreneurs relief
– PPR relief, Incorporation relief

Q’s 4 & 5
New rules on pension contributions as per examiner’s FA 2011 update article
IHT as part of question
Corporation Tax losses if not in Q.2

[F6 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper F7

Q1 Consolidated Statements of Financial Position and Income, 5 marks of chat, share for share exchange and an element of deferred cash payment, fair value adjustments, impairment of goodwill, mid-year acquisition, nci value based on subsidiary share value, pups from S to H
Practice Questions: Pedantic D8, Pandar D9, Premier D10, Prodigal J11

Q2 Statements of Financial Position, Income and Changes in Equity prepared from a list of balances, deferred tax provision and income tax charge, TNCA revaluation, reducing balance and straight line depreciation of TNCA, loan note interest hidden accrual
Practice Questions: Dexon J8, Candel D8, Cavern D10, Highwood J11, Fresco J12

Q3 Write a report on analysis of financial position with 6 marks for ratio calculations
Practice Questions: Reactive Pilot paper, Harbin D7, Victular D8, Hardy D10, Bengal J11, Tangier J12

Q4 Borrowing costs calculation and chat, or Revaluation of PPE
Practice Questions: Pilot paper Q4, J10 Q5

Q5 Development expenditure
Practice Questions:D7 Q5, or PPE costs D8 Q5

ACCA F8 Exam tips

Sales accounting system: controls and receivables circularisation.

Elements of an assurance engagement; materiality

Computer aided audit techniques

Audit reports

Analytical procedures

[F8 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA F9 Exam tips

1 Lease and Buy + written about capital rationing

2 Economic order quantity calculations; written on just-in-time inventory management; written on receivables management.

3 Weighted average cost of capital, and project specific cost of equity

4 Rights issue = PE ratio valuations

[F9 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper P1

(Not in any particular sequence)

Governance:
Directors
Board sub-committees ( Audit and Nominations )
Statutory duties
Quality of information
Early indicators of at-risk companies
When should institutional investors get involved
Need for corporate governance

Risk
Identification, assessment, measurement and management
Internal auditors / external auditors comparison of roles in the context of  corporate governance
Business risks
How to ensure that all employees are aware of company strategy and why is it important

Ethics
Kohlberg scenario
Deontology and teleology
Environmental footprint and accounting
CSR

Any of the questions could possibly include a computational element – so
TAKE YOUR CALCULATOR INTO THE EXAM ROOM

[P1 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper P2

Q1 Consolidated cash flow (35)
Environmental considerations
Or corporate governance matters
Or management commentary

Q2 various IASs / IFRSs eg earnings per share, revenue, borrowing costs, asset impairments

Q3 reconstruction of a single company

Q4 IFRSs 10, 11, 12 and / or 13

[P2 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper P3

General strategic position question. Possibly take-over and mergers
Culture and organisational structure.
Use of internet in marketing etc
Knowledge management
Process change, change management and outsourcing.

ACCA Exam tips for Paper P4

Section A
1 Large question including NPV, cost of capital, asset/equity betas.
2 Foreign exchange risk management

Section B
3 Interest rate risk management
4 Option pricing
5 Written – possibly on the European debt crisis

[P4 Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper P5

Learning curves and budgeting

Non-financial performance measurement: balanced score card etc.

Transfer pricing

Activity based costing

Environmental management accounting including life cycle costing and costs of quality.

ACCA Exam tips for Paper P6 UK

[P6 UK Exam Tips from Kaplan/BPP/LSBF and other providers]

ACCA Exam tips for Paper P7

Q1 36 marks Respond to a partners email and prepare briefing notes for the partner’s meeting with the client concerning 4 or 5 matters where the proposed accounting treatment is questionable – many examples from past exams

Q2 34 marks Identify business risks facing a company from a scenario, discuss how business risk ties in with financial statement risk and / or audit risk – many examples from past exams

Q3 15 marks Comment of the matters outlined in the question and identify / explain the audit procedures you should expect to be carried out OR state the evidence you should expect to find on the audit file – many examples from past exams

Q4 15 marks Ethics question – make sure you have read Lisa’s Ethics article from Autumn Student Accountant

Q5 15 marks Comment on various matters and explain the impact on your audit report – many examples from past exams

Possible: 15 marks Planning an audit – read Lisa’s article from Autumn Student Accountant

You really should refresh your memory about accounting standards from P2 course notes or, if you cannot face P2 course notes, then at least look through F7 course notes