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ACCA Exam Tips – June 2010

VIVA

Please Note

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 syllabus

Tips for ACCA F4 Corporate and Business Law (Eng)

1 Supreme Court article in January Student Accountant  or /ratio/obiter/reversing (June 05)

2 Meetings and resolutions – special resolution, special notice, special business (Dec 08)

3 Company secretary (June 05) or difference between executive and non-executive directors (June 08)

4 Debentures – ( fixed and floating ) (June 04) or comparison of debentures with shares (June 08)

5 Agent authority (Dec 01)

6 Employment law – explanation of unfair and wrongful dismissal  (Dec 07/ Dec 08) or difference between employed and self-employed (June 08)

7 Tort and remoteness of damage (Dec 07)

8 Usual question 8 – contract law with invitation, offer, counter-offer, option period, breach – advise the parties

9 Partnership  / liability of partners (June 08) / (Dec 08)

10 Insider dealing (June 09) or Money laundering (Dec 05)

Tips for ACCA Paper F5 “Performance Management”

Question 1

ABC

Question 2
Linear Programming or Decision Theory

Question 3

Budgeting written + preparation of flexed budget

Question 4

Mix & Yield variances

Question 5
Divisional performance measurement + transfer pricing

Tips for ACCA Paper 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

Tips for ACCA F7 Financial Reporting (INT)

1 Consolidated Statements of Income and financial Position with subsidiary and associate

2 Preparation of a company’s financial statements from an adjusted trial balance

3 Report on a company’s performance including ratio calculations. Maybe with a relatively straight forward cash flow

4 Construction contracts

5 IAS 8 on prior year adjustments and changes in accounting policies

Tips for ACCA Paper F8 Audit and Assurance (INT)

Sales system/receivables, including audit planning.

CAAT

Analytical procedures

Reasons for qualifying – Clarity statement

Events after the period end

Ethics and risk/client acceptanc

Tips for ACCA Paper F9 Financial Management

WACC / NPV / IRR
Debtors Management / EOQ / overtrading
Business Valuation etc (Q54)
Foreign exchange risk

Tips for ACCA P1 Professional Accountant

1) Something to do with External and Internal Actors – Student Accountant Article from August 2009 . Scenario involving chair who is also chief exec, too few neds, domination by one person and ineffective other board members. Role of Corporate Governance and critical commentary about why this company fails and how it could improve. 5 marks worth of definition about transparency and integrity

2) Report ( or memo ) requiring identification of business risks and recommendations of how to best manage those risks

3) Role, function and responsibilities of internal auditors and maybe a comparison with external auditors

4) Scenario question with some very questionable ethical activities – maybe incorporating problems for both directors and auditors

Tips for Paper P2 June 2010 exams

Q1 Foreign Consolidation, such as the questions Memo, Ejay and Rybi from the Revision Kit

Q2 & 3  Multiple IAS Questions (with multiple parts in a question testing various IASs: Revenue. Earnings per share, Contingencies, Share based payments, Financial Liabilities)

Q4 Recent IFRS for small and medium enterprises (May Student Accountant article)

Tips for ACCA Paper P3 Business Analysis

PESTEL/SWOT/BCG

Quality – CMMI

E-business/e-commerce/e-marketing

Ashridge portfolio display matrix

Prahalad and Hamel – (resource-based v position-based strategy)

Tips for Paper P4 Advanced Financial Management

1 Big NPV involving calculation of WACC using CAPM (gearing and ungearing betas), possibly a foreign investment needing forecasting of exchange rates,
2 Financial appraisal of a business (from sets of accounts) and calculation of Z-score (in which case formula will be given)

Section B:
3 Foreign exchange risk – futures and options
4 Either interest rate risk (futures and options), or possibly Option Pricing (share options and delta hedge)
5 Written question – impossible to guess, but possibly – “Quantitative easing”. What is it? Why do it? Risk involved in doing it?

Tips for Paper P5 Advanced Performance Management

A
1) Financial & Non-Financial Performances Measures (Including Preparation of Budget/Actual Profit Statement)
2) Learning Curves / Target Costing

B
3) Residual Income / Return on Investment / Economic Value Added
4) Written question on problems with Budgets / Behavioral Aspects
5) Decision Making and Probabilities

Tips for ACCA P7 Advanced Audit and Assurance (INT)

Q1 Audit risk ( 12/02, 6/03, 6/04 )

Q2 “Matters to consider and evidence you would expect to find / audit tests to be performed” ( 12/01, 6/02, 12/03, 6/05, 6/06, 12/06, 6/07, 6/08, 12/08 )

Q3 Going concern – Article from March Student Accountant ( 6/02, 12/08 )

Q4 Ethics ( Pilot paper, 6/02, 6/03, 6/04, 6/05, 6/06, 12/06, 6/07, 6/08, 12/08, 6/09 )

Q5 Audit reports including environmental issues, groups (Pilot paper ) and key performance indicators ( 12/08 )

Probable that “Clarity Project” will be in the exam somewhere, either directly or indirectly.

Reader Interactions

Comments

  1. yusuff says

    May 14, 2010 at 5:35 pm

    ANY TIPS ON F4(GLO)PLEASE?

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  2. bosunkay says

    May 14, 2010 at 9:37 am

    ”Business Valuation etc (Q54)” Pls what does this mean in F9 exam tips? Is there a particular question this relates to. Kindly expanciate.

    Log in to Reply
  3. abdelbagi h koko says

    May 13, 2010 at 3:29 pm

    i need tips for p6 and p1

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  4. arhin says

    May 13, 2010 at 3:19 pm

    thanks for tips it will make revision a bit easy

    Log in to Reply
  5. rchiwerere says

    May 13, 2010 at 12:42 pm

    hope these work , how close canthese be

    Log in to Reply
  6. seyisholaidowu says

    May 13, 2010 at 11:47 am

    Thanks the tips are vry gud. By Gods grace i will pass all my papers Amen.

    Log in to Reply
  7. bennyarega says

    May 13, 2010 at 11:00 am

    Thanks very much for the intellectual guesses about the exams. They have been of help to me in my revision and passing of the exams. Keep it up.

    Log in to Reply
  8. nanak says

    May 13, 2010 at 4:07 am

    I believe we still need some tips forpaper F6

    Log in to Reply
  9. knduna says

    May 12, 2010 at 5:48 pm

    we want tips please!!!!

    Log in to Reply
  10. admin says

    May 12, 2010 at 5:05 pm

    tips will be online when ready, not sooner

    When tutors send them to me!

    If it is so important to you, bookmark this page and check every hour 🙂

    Log in to Reply
  11. hamra says

    May 12, 2010 at 4:54 pm

    come on man the p series are also papers and also commence in this coming june so tips please………………dont late more

    Log in to Reply
  12. annettenajjingo says

    May 12, 2010 at 3:35 pm

    Tips are an aid to choosing areas to focus on the last hours. Thanks for this. Exactly when can we check as we are towards mid May?

    Log in to Reply
  13. harryamoschampiti says

    May 12, 2010 at 1:53 pm

    mind you much as we may receive the tips, studying the full sylabus will reduce the risks of faluire. Other wise we are waiting for th tips

    Log in to Reply
  14. sandyfb425 says

    May 12, 2010 at 1:08 pm

    i am eager to get the tips for p3…..

    Log in to Reply
  15. cmwirumubi says

    May 12, 2010 at 8:56 am

    These tips are good,They highlight areas which are likely to be examined.plse let’s make good use of them.

    Log in to Reply
  16. memo says

    May 12, 2010 at 7:43 am

    when exactly in may,please

    Log in to Reply
  17. collen says

    May 12, 2010 at 6:48 am

    Always remeber that an exam is no event,but a journey.So lets be on the safe side of studying thouroughly.

    Log in to Reply
    • uzairhanif says

      May 25, 2010 at 8:07 am

      dude i agree but last 15 mints in the examinationtion hall m reeally tense…..i dont know why…

      Log in to Reply
  18. admin says

    May 11, 2010 at 7:53 pm

    these are only tips!!!! so be patient people!

    you should know all syllabus!!

    Log in to Reply
  19. jbss says

    May 11, 2010 at 7:19 pm

    how soon should we wait for the tips

    Log in to Reply
  20. meddy says

    May 11, 2010 at 6:12 pm

    May what date because we are already in May.

    Log in to Reply
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