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honeyman

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Active 5 years ago
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Viewing 23 posts - 1 through 23 (of 23 total)
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  • July 17, 2017 at 7:38 pm #397138
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    i share your pain. Guess what? i took me 6 good years to pass p5. i failed because i honestly did not understand the paper but when i did, i passed it. I focused on solving past questions and there i go to know why i had failed all these while.Don’t give up yet.
    Never say die until the bones are rotten.

    July 17, 2017 at 7:32 pm #397137
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    i am with you brother! You deserve to celebrate every bit of your success.

    July 17, 2017 at 7:29 pm #397134
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    sorry to hear this.I like your mentality. Never give up. i would suggest you focus on the past questions.Better luck next time.

    July 17, 2017 at 7:27 pm #397133
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    sorry to hear your sad news but don’t give up yet. Put the text book somewhere and focus your time on the past questions. That’s the key to passing this paper. It took me such a long time to finally understand this paper and when i did, i passed after 6 years struggling. Better luck next time.

    July 17, 2017 at 7:21 pm #397128
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Sorry to hear you didn’t pass but don’t give up. I have been in your shoes before.It took me 6 years to finally pass P5.
    I would suggest you spend a lot of time solving past questions in order to familiarize yourself on how the theories were applied in the answers to the past questions. Better luck next time.

    July 17, 2017 at 7:16 pm #397127
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    congrats.

    July 17, 2017 at 7:16 pm #397126
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Congrats. I am happy for you.

    January 18, 2017 at 7:37 pm #368224
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Hi Bro, i share your pain. i would suggest you concentrate on solving only past questions going forward. You already know the theory but what you probably not getting is the techniques. I am talking from personal experience.
    I struggled to pass my final paper to become ACCA affiliate for about 6 and a half years.My average mark was about 38 marks. It took me a long time to start to question why i am not passing. Meanwhile my friends i started ACCA with had complete and some are even partners, finance directors in some private firms and big corporations. I was very frustrate and so i began to look for solutions as to why i am stuck with the final paper and i am not making any headway. I realized that i focus on the notes too much and spend less time solving past questions. I most of the time spend just a week to go through a couple of past questions which hasn’t been helpful.
    I changed that and focused on solving all the past questions from 2010 till date. It was through solving past questions that i discovered what i was doing wrong all this while. I got the tricks and i passed.
    The solving past questions will teach you how to apply the knowledge to questions.
    Don’t give up and never say die until the bones are rotten.Take charge of your books and start all over again.

    January 18, 2017 at 5:48 pm #368216
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Focus on solving only past questions.Solving past questions will open your eyes to see the techniques.

    January 18, 2017 at 5:34 pm #368213
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    After six and half years trying to pass p5, i finally pass it this time around. I am over the moon.
    Now i can move on with my life.To God be the glory.

    January 18, 2017 at 5:32 pm #368212
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    don’t quit and don’t give up.It took me six and a half years to be able to pass p5. focus more on the past questions and solve as many as you can.

    November 18, 2016 at 7:40 pm #349876
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Thank you very much. very helpful.

    November 16, 2016 at 11:38 pm #349413
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    How did the examiner got the following Pv@12.5%?
    2010 $ 179,516
    2011 $ 292,169
    2012 $ 303,626
    Please help.

    August 26, 2016 at 9:39 am #335289
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    no they are not out of the syllabus.The only topic i know that is not part of p5 was Ansoff model.You can cross check for yourself.

    May 19, 2016 at 2:58 am #315713
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    1.Performance Pyramid
    calculations and evaluation , non financial indicators
    ABC costing
    strength and weakness of incremental and ABC Budgeting
    assess using Fritzgerald and Moon measures, improvement using real time data, external data integration
    Stakeholders analysis, risk , project option, expected values and risk evaluation of stakeholders.
    i got this information after the p5 exam was written.

    May 10, 2016 at 12:16 am #314352
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Kaplan ACCA Exam Tips June 2016 Papers
    also see ACCA Exam Tips June 2013 by ACCASUPPORT.COM

    F4
    English legal system

    Types of law
    Court structure
    Court vs tribunal
    Interpretation of statute
    Human Rights Act
    Tribunals
    Contract law

    Exclusion clauses
    Offer and acceptance
    Consideration/privity of contract
    Express and implied terms
    Intention to create legal relations
    Tort of negligence

    Duty of care
    Breach of duty
    Professional misstatement
    Employment law

    Common law duties
    Remedies
    Redundancy
    Agency/partnership

    How agency relationship arises
    Liability of agents & partners
    Termination of partnership
    Company law

    Separate personality/lifting the veil
    Articles of association
    Statutory books
    Choice of business structure/private v public company
    Treasury shares
    Class rights
    Loan capital/charges
    Kaplan Financial June 2013
    Appointment/removal/disqualification of directors
    Directors authority
    Directors’ duties
    Meeings
    Auditors
    Company secretary
    Corporate governance
    Fraudulent behaviour

    Money laundering
    Market abuse
    Bribery
    Fraudulent and wrongful trading
    F5
    Environmental Management Accounting
    Throughput accounting and TOC
    Learning curves
    Variances: Sales Variances, Market size and market share
    Decision Trees
    Pricing Equations and Pricing strategies
    Activity based budgeting
    Non Financial Performance Indicators
    F6
    Income tax

    – Husband and wife

    – Joint investment income

    – Some exempt income

    – Adjustment of profits

    – Residence

    – Mileage allowance

    – Loss reliefs against gains

    – National insurance

    – Self assessment

    – Interest/penalty – explanation/calculation

    Corporation tax

    – Possibly a straddling and/or short period of account

    – Definition of a CAP

    – Property income

    – Chargeable gains to calculate, with rollover relief

    – Capital gains group – transfers, elections and group rollover relief

    – Single company losses and / or group loss relief – with some tax planning

    – Overseas branches

    – Penalties for late filing of return

    – Quarterly instalment payments

    – Interest on late payment of corporation tax

    Capital gains tax

    – Husband and wife making disposals

    – Transfer between spouses

    – Wasting assets or chattels

    – Exempt assets

    – PPR, gift and entrepreneurs’ relief

    VAT

    – Separate part of question 1 or 2 or whole question 4/5

    – VAT registration – futures test

    – Invoices

    – VAT return – including some discounts and impaired debts relief

    – Pre-registration input VAT

    – Deregistration

    – Default surcharges and errors

    – Payment dates

    Sundry topics for questions 4 and 5

    – Partnerships

    – IHT (full question)

    – Comparative scenario or other new style question

    – Self assessment

    F7
    Q1

    Consolidated statement of financial position (with possible statement of profit or loss). Adjustments to

    include: PURP, share exchange, current accounts, impairment, revaluation, fair value adjustment

    Q2

    Published accounts to include statement of profit or loss, statement of financial position and statement of changes in equity from trial balance. Possible adjustments to include: revenue recognition, depreciation, revaluation, tax & deferred tax, convertible loan, share issue.

    Q3

    Statement of cash flows with interpretation element.

    Q4/Q5

    Qualitative characteristics, finance leases, intangible assets, events after the reporting date, earnings per share.

    F8
    Audit Framework: confidentiality / conflicts of interest / audit committees

    Internal Audit: Role and function

    Planning and Risk: Audit risk including analytical procedures

    Internal Control: Cash / purchases system (including tests of control)

    Audit Evidence: Purchases / payables; bank and cash; review engagements

    Completion & reporting : Subsequent events (ISA 560) Auditor’s reports

    Specific standards/topics:

    ? Elements of internal control: Control Environment (recent article) (ISA 315)

    ? Elements of assurance

    ? Expectation gap

    ? Professional clearance

    ? Audit strategy/plan (ISA 300)

    ? Risk assessment procedures (ISA 315)

    ? Materiality (ISA 320)

    F9
    Investment appraisal

    This is a key topic which is highly likely to be examined every time. The most common technique assessed is NPV with inflation and taxation although be prepared for a twist, possibly involving some of the more basic methods of the applications of NPV such as replacement analysis or lease v buy. It is also worth bearing in mind that IRR has not been tested for three years so may pop up in some form.

    Working Capital Management

    Another key topic which is likely to examined every time. Exams to date have covered much of this topic but it’s been a while since we’ve seen the more numerical aspects surrounding cash management. A discussion about funding strategies is a key discursive element.

    Valuations

    This has been examined in virtually every F9 exam to date. Cash flow based values have yet to be examined although the PE ratio and dividend valuation methods still appear to be the more examinable areas. There are often high scoring discursive elements in this area of the syllabus for being able to discuss the implications of something on the value of the business or perhaps the relative methods of the valuation methods.

    Business Finance

    This topic has been heavily examined recently and in particular the impact of financing on ratios is an area the examiner likes. Make sure you’re able to discuss the impact that different policies may have on a company by being able to both calculate and interpret financial ratios.

    Cost of Capital

    This topic features in virtually every exam to a greater or lesser extent. Good coverage of all of the syllabus areas is therefore essential to ensure you can handle any eventuality on the day.

    Candidates should feel confident when calculating the overall cost of capital (WACC) and going on to discuss the impact of the cost of capital on investments. It’s been a while since we’ve seen CAPM based calculations.

    Risk Management

    Within this section of the syllabus, foreign exchange risk has been examined more often than interest rate risk. However, both are fairly under-examined areas of the syllabus as a whole and so this is a topic worth being on top of.

    The Financial Management Function and the impact of the economic environment upon it

    We can probably expect one specific topic from these syllabus areas to feature as a tag on discursive element within one question on the exam. This part of the question can provide some easier knowledge-based marks and therefore is worth some focus.

    P1
    TARA
    Teleological and deontological approaches to ethics
    Kohlberg’s moral development
    Gray, Owen and Adams contents of a corporate code of ethics insider trading audit committees internal control statements internal controls – systems separation of roles of Chairman and CEO ‘transparency’ in the context of corporate governance directors’ remuneration influence of and intervention by institutional investors normative and instrumental view of stakeholders direct and indirect environmental reporting
    P2
    Q1 Groups and ethics

    A SOFP has been examined for in the last 4 examinations (both exams in 2011 and 2012) – perhaps it is time for a GSOCI (QBD) or a statement of cash flows (revision mock) group accounting question. In either event, it is likely to include a change in group structure (acquisition and/or disposal of subsidiary in the year). Accounting issues possibly examined within this question include:

    – Financial instruments

    – Joint arrangements

    – Foreign currency

    The ethical issue will normally focus upon an incorrect or inappropriate accounting treatment in the group accounts question. As IFRS 10/11/12 are relatively new, it could focus upon determination of whether one entity has control over another, and whether an appropriate accounting treatment has been applied.

    Q2 and Q3

    Possibly a focus upon P2-only reporting standards, and those which require the exercise of judgement.

    Accounting issues possibly examined here include:

    – IAS 19 Employee benefits – in revision mock

    – IFRS 2 Share-based payment – in revision mock

    – IFRS 9 & IAS 39 Financial instruments – including hedging – in QBD

    – Entity reconstructions including accounting issues – in the revision mock as not yet examined since it was included in the syllabus in 2011.

    Q4 – Essay-style question

    This is difficult to call. I was going to include a question in the revision mock or QBD dealing with current developments in hedging, but at the Examiners’ Conference, in answer to a question about how likely or detailed such a question could be in an exam, it was described as “horrific” and ,my only attract a small number of marks within a bigger question.

    Instead, the focus is perhaps more likely to be on current standards which may be lacking or deficient in some way – hence drafting a question for QBD dealing with revenue recognition and leasing in one question.

    Although this is unlikely to be the format of such a question, it does represent “hedging bets” by covering two topics in the same question. The essay-style question in the revision mock deals with clutter in company accounts – something the Examiner made specific reference to at the Conference.

    P3
    Project management
    Benefits management
    Supply chain management
    Business process change
    Stakeholder analysis
    Decision making techniques
    P4
    Net Present Value – including foreign currency cash flows
    Risk adjusted WACC
    Discussion of financing options
    Interest rate hedging – options, futures and FRAs
    P5
    Divisional performance
    BCG matrix and link to CSFs, KPIs
    Public sector NFP – link between mission and CSFs, KPIs
    Evaluate PM system
    Evaluate format and content of a PM report
    EMA
    Building Block Model
    Risk – maximax, etc
    P6
    Corporation tax

    – Group relief / consortium relief

    – Capital gains groups: NGNL and rollover relief

    – Overseas aspects: branch vs sub / CFCs / transfer pricing

    – Acquisition of subsid /pre entry capital losses and trading losses

    – R&D

    – Close companies

    Capital gains

    – Reliefs: Rollover, holdover, gift, incorporation, PPR and letting

    – Overseas aspects

    Inheritance tax

    – Lifetime gifts

    – Valuation of shares / related property

    – Deed of variation

    – New IHT rate for charitable legacies

    – Death estate computation

    – Business property relief

    Income tax

    – Sole traders closing year rules

    – Income tax comps at marginal rates

    – Benefits: car, accommodation

    – Share incentive plans

    – Overseas aspects

    Personal financial planning

    – EIS / seed EIS

    VAT

    – Partial exemption

    – Land and buildings

    – Group VAT registration

    Scenarios

    – Lease vs. buy assets: net cost

    – Incorporation

    – Company purchase of own shares

    – Personal service companies

    – IHT vs CGT for gifts

    Stamp duty and SDLT

    Ethics

    P7
    Core areas (as per examiner’s approach article) likely to be examined in every paper:

    • Engagement planning and risk assessment (audit risk);

    • Engagement procedures (i.e. evidence);

    • Ethics and professional issues;

    • Completion (matters to consider/evidence on file) and engagement reporting;

    Subjects of recent articles:

    • Planning (October 2012)

    Significant topics not examined for at least 18 months:

    • Subsequent Events (ISA 560)

    • Due diligence

    • Auditor’s responsibilities regarding fraud

    • Limiting liability

    • Changing auditors

    Current topics:

    • Competition in the statutory audit market

    • Improving the audit report.

    Please note: the UK variant is also very likely to include an aspect of Insolvency (wrongful & fraudulent trading?).

    Please be aware that the whole syllabus is examinable. Whilst the above topics are likely to be examined in forthcoming sittings this does not mean candidates should avoid other areas of the syllabus in their exam preparation.

    Sharing is Caring

    May 10, 2016 at 12:15 am #314351
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Kaplan ACCA Exam Tips June 2016 Papers
    also see ACCA Exam Tips June 2013 by ACCASUPPORT.COM

    F4
    English legal system

    Types of law
    Court structure
    Court vs tribunal
    Interpretation of statute
    Human Rights Act
    Tribunals
    Contract law

    Exclusion clauses
    Offer and acceptance
    Consideration/privity of contract
    Express and implied terms
    Intention to create legal relations
    Tort of negligence

    Duty of care
    Breach of duty
    Professional misstatement
    Employment law

    Common law duties
    Remedies
    Redundancy
    Agency/partnership

    How agency relationship arises
    Liability of agents & partners
    Termination of partnership
    Company law

    Separate personality/lifting the veil
    Articles of association
    Statutory books
    Choice of business structure/private v public company
    Treasury shares
    Class rights
    Loan capital/charges
    Kaplan Financial June 2013
    Appointment/removal/disqualification of directors
    Directors authority
    Directors’ duties
    Meeings
    Auditors
    Company secretary
    Corporate governance
    Fraudulent behaviour

    Money laundering
    Market abuse
    Bribery
    Fraudulent and wrongful trading
    F5
    Environmental Management Accounting
    Throughput accounting and TOC
    Learning curves
    Variances: Sales Variances, Market size and market share
    Decision Trees
    Pricing Equations and Pricing strategies
    Activity based budgeting
    Non Financial Performance Indicators
    F6
    Income tax

    – Husband and wife

    – Joint investment income

    – Some exempt income

    – Adjustment of profits

    – Residence

    – Mileage allowance

    – Loss reliefs against gains

    – National insurance

    – Self assessment

    – Interest/penalty – explanation/calculation

    Corporation tax

    – Possibly a straddling and/or short period of account

    – Definition of a CAP

    – Property income

    – Chargeable gains to calculate, with rollover relief

    – Capital gains group – transfers, elections and group rollover relief

    – Single company losses and / or group loss relief – with some tax planning

    – Overseas branches

    – Penalties for late filing of return

    – Quarterly instalment payments

    – Interest on late payment of corporation tax

    Capital gains tax

    – Husband and wife making disposals

    – Transfer between spouses

    – Wasting assets or chattels

    – Exempt assets

    – PPR, gift and entrepreneurs’ relief

    VAT

    – Separate part of question 1 or 2 or whole question 4/5

    – VAT registration – futures test

    – Invoices

    – VAT return – including some discounts and impaired debts relief

    – Pre-registration input VAT

    – Deregistration

    – Default surcharges and errors

    – Payment dates

    Sundry topics for questions 4 and 5

    – Partnerships

    – IHT (full question)

    – Comparative scenario or other new style question

    – Self assessment

    F7
    Q1

    Consolidated statement of financial position (with possible statement of profit or loss). Adjustments to

    include: PURP, share exchange, current accounts, impairment, revaluation, fair value adjustment

    Q2

    Published accounts to include statement of profit or loss, statement of financial position and statement of changes in equity from trial balance. Possible adjustments to include: revenue recognition, depreciation, revaluation, tax & deferred tax, convertible loan, share issue.

    Q3

    Statement of cash flows with interpretation element.

    Q4/Q5

    Qualitative characteristics, finance leases, intangible assets, events after the reporting date, earnings per share.

    F8
    Audit Framework: confidentiality / conflicts of interest / audit committees

    Internal Audit: Role and function

    Planning and Risk: Audit risk including analytical procedures

    Internal Control: Cash / purchases system (including tests of control)

    Audit Evidence: Purchases / payables; bank and cash; review engagements

    Completion & reporting : Subsequent events (ISA 560) Auditor’s reports

    Specific standards/topics:

    ? Elements of internal control: Control Environment (recent article) (ISA 315)

    ? Elements of assurance

    ? Expectation gap

    ? Professional clearance

    ? Audit strategy/plan (ISA 300)

    ? Risk assessment procedures (ISA 315)

    ? Materiality (ISA 320)

    F9
    Investment appraisal

    This is a key topic which is highly likely to be examined every time. The most common technique assessed is NPV with inflation and taxation although be prepared for a twist, possibly involving some of the more basic methods of the applications of NPV such as replacement analysis or lease v buy. It is also worth bearing in mind that IRR has not been tested for three years so may pop up in some form.

    Working Capital Management

    Another key topic which is likely to examined every time. Exams to date have covered much of this topic but it’s been a while since we’ve seen the more numerical aspects surrounding cash management. A discussion about funding strategies is a key discursive element.

    Valuations

    This has been examined in virtually every F9 exam to date. Cash flow based values have yet to be examined although the PE ratio and dividend valuation methods still appear to be the more examinable areas. There are often high scoring discursive elements in this area of the syllabus for being able to discuss the implications of something on the value of the business or perhaps the relative methods of the valuation methods.

    Business Finance

    This topic has been heavily examined recently and in particular the impact of financing on ratios is an area the examiner likes. Make sure you’re able to discuss the impact that different policies may have on a company by being able to both calculate and interpret financial ratios.

    Cost of Capital

    This topic features in virtually every exam to a greater or lesser extent. Good coverage of all of the syllabus areas is therefore essential to ensure you can handle any eventuality on the day.

    Candidates should feel confident when calculating the overall cost of capital (WACC) and going on to discuss the impact of the cost of capital on investments. It’s been a while since we’ve seen CAPM based calculations.

    Risk Management

    Within this section of the syllabus, foreign exchange risk has been examined more often than interest rate risk. However, both are fairly under-examined areas of the syllabus as a whole and so this is a topic worth being on top of.

    The Financial Management Function and the impact of the economic environment upon it

    We can probably expect one specific topic from these syllabus areas to feature as a tag on discursive element within one question on the exam. This part of the question can provide some easier knowledge-based marks and therefore is worth some focus.

    P1
    TARA
    Teleological and deontological approaches to ethics
    Kohlberg’s moral development
    Gray, Owen and Adams contents of a corporate code of ethics insider trading audit committees internal control statements internal controls – systems separation of roles of Chairman and CEO ‘transparency’ in the context of corporate governance directors’ remuneration influence of and intervention by institutional investors normative and instrumental view of stakeholders direct and indirect environmental reporting
    P2
    Q1 Groups and ethics

    A SOFP has been examined for in the last 4 examinations (both exams in 2011 and 2012) – perhaps it is time for a GSOCI (QBD) or a statement of cash flows (revision mock) group accounting question. In either event, it is likely to include a change in group structure (acquisition and/or disposal of subsidiary in the year). Accounting issues possibly examined within this question include:

    – Financial instruments

    – Joint arrangements

    – Foreign currency

    The ethical issue will normally focus upon an incorrect or inappropriate accounting treatment in the group accounts question. As IFRS 10/11/12 are relatively new, it could focus upon determination of whether one entity has control over another, and whether an appropriate accounting treatment has been applied.

    Q2 and Q3

    Possibly a focus upon P2-only reporting standards, and those which require the exercise of judgement.

    Accounting issues possibly examined here include:

    – IAS 19 Employee benefits – in revision mock

    – IFRS 2 Share-based payment – in revision mock

    – IFRS 9 & IAS 39 Financial instruments – including hedging – in QBD

    – Entity reconstructions including accounting issues – in the revision mock as not yet examined since it was included in the syllabus in 2011.

    Q4 – Essay-style question

    This is difficult to call. I was going to include a question in the revision mock or QBD dealing with current developments in hedging, but at the Examiners’ Conference, in answer to a question about how likely or detailed such a question could be in an exam, it was described as “horrific” and ,my only attract a small number of marks within a bigger question.

    Instead, the focus is perhaps more likely to be on current standards which may be lacking or deficient in some way – hence drafting a question for QBD dealing with revenue recognition and leasing in one question.

    Although this is unlikely to be the format of such a question, it does represent “hedging bets” by covering two topics in the same question. The essay-style question in the revision mock deals with clutter in company accounts – something the Examiner made specific reference to at the Conference.

    P3
    Project management
    Benefits management
    Supply chain management
    Business process change
    Stakeholder analysis
    Decision making techniques
    P4
    Net Present Value – including foreign currency cash flows
    Risk adjusted WACC
    Discussion of financing options
    Interest rate hedging – options, futures and FRAs
    P5
    Divisional performance
    BCG matrix and link to CSFs, KPIs
    Public sector NFP – link between mission and CSFs, KPIs
    Evaluate PM system
    Evaluate format and content of a PM report
    EMA
    Building Block Model
    Risk – maximax, etc
    P6
    Corporation tax

    – Group relief / consortium relief

    – Capital gains groups: NGNL and rollover relief

    – Overseas aspects: branch vs sub / CFCs / transfer pricing

    – Acquisition of subsid /pre entry capital losses and trading losses

    – R&D

    – Close companies

    Capital gains

    – Reliefs: Rollover, holdover, gift, incorporation, PPR and letting

    – Overseas aspects

    Inheritance tax

    – Lifetime gifts

    – Valuation of shares / related property

    – Deed of variation

    – New IHT rate for charitable legacies

    – Death estate computation

    – Business property relief

    Income tax

    – Sole traders closing year rules

    – Income tax comps at marginal rates

    – Benefits: car, accommodation

    – Share incentive plans

    – Overseas aspects

    Personal financial planning

    – EIS / seed EIS

    VAT

    – Partial exemption

    – Land and buildings

    – Group VAT registration

    Scenarios

    – Lease vs. buy assets: net cost

    – Incorporation

    – Company purchase of own shares

    – Personal service companies

    – IHT vs CGT for gifts

    Stamp duty and SDLT

    Ethics

    P7
    Core areas (as per examiner’s approach article) likely to be examined in every paper:

    • Engagement planning and risk assessment (audit risk);

    • Engagement procedures (i.e. evidence);

    • Ethics and professional issues;

    • Completion (matters to consider/evidence on file) and engagement reporting;

    Subjects of recent articles:

    • Planning (October 2012)

    Significant topics not examined for at least 18 months:

    • Subsequent Events (ISA 560)

    • Due diligence

    • Auditor’s responsibilities regarding fraud

    • Limiting liability

    • Changing auditors

    Current topics:

    • Competition in the statutory audit market

    • Improving the audit report.

    Please note: the UK variant is also very likely to include an aspect of Insolvency (wrongful & fraudulent trading?).

    Please be aware that the whole syllabus is examinable. Whilst the above topics are likely to be examined in forthcoming sittings this does not mean candidates should avoid other areas of the syllabus in their exam preparation.

    Sharing is Caring

    April 16, 2016 at 7:47 pm #310388
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    This paper has been a torn on my flesh. Can you imagine i have been writing this paper since i can remember.The closest i got to was 46% when i was 100% sure that was my last sitting. Here i am once again reading the same material all over just to take the exam again in June.This paper has really frustrated me. But i am confident i will pass in June.I am pretty sure come after the june 2016 results, i will be singing a new song.I know i have taken this paper more than 6 times but i am not giving up. Guys let do it! Never say die until the bones are rotten. This June 2016, P5 will fall heavily.
    Enjoy your week.

    February 9, 2015 at 2:37 pm #227362
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    failed 46% on my 7th attempt. This is a vast improvement from the other 6. Never say die until the bones are rotten.

    February 11, 2013 at 12:12 pm #117290
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    Well I failed again upon my second attempt. Like an old soldier never say die until the bones are rotten. I will prepare very well for the next sitting. Meanwhile I congratulate all of you who made it. Go to the world and brighten the corner wherever you found yourself. Shalom peace!

    June 5, 2012 at 12:51 pm #98528
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    please send me dannet23@gmail.com

    May 1, 2010 at 3:50 pm #59545
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    i have been wondering same too.i think OT as a matter of urgency to try and upload the lectures to cover advance risk.i am totally confused about that topic.i live in usa and there is no tuition so OT is a blessing to me.i am left with only p4.i need to get it this time around.

    May 1, 2010 at 3:45 pm #59193
    4ab816f4bc12c3e032f192b7a78230e0e506f742c4c408c5e16dd4723dd69aeb 80honeyman
    Participant
    • Topics: 3
    • Replies: 23
    • ☆

    i dont understand why i never took advantage of such an opportunity last sitting.kindly include me.i failed this paper last time because i did not understand it at all.i think i am now getting the understanding.kindly include me as part of the study buddy.i live in ny.unfortunately i have to study on my own.this my final paper.

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