F7 INT tips – December 2012 sitting

Opentuition

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

Kaplan Financial

Q1: Consolidated statement of comprehensive income and consolidated statement of financial position with adjustments to include: PURP, share exchange, current accounts, impairment, revaluation, fv adj.
Q2: Published accounts to include: statement of comprehensive income, statement of financial position and SOCIE from TB. Possible adjustments to include: revenue recognition, depreciation, revaluation, tax & deferred tax.
Q3: Ratios with interpretation.
Q4/Q5: Qualitative characteristics, finance leases, tangible & intangible assets, government grants.

BPP

There will be 5 questions in the exam, all compulsory. The first 25 mark question will cover a consolidated statement of profit or loss and other comprehensive income and/or consolidated statement of financial position, and may include a written part. Questions 2 and 3 will also be 25 marks, Question 2 covering preparation of single entity financial statements, likely from a trial balance. Question 3 is usually set in the context of interpretation and often includes a statement of cash flows. The conceptual framework is often part of Questions 4 or 5 so it is an area you need to ensure you are familiar with. Inflation, government grants, discontinued operations, deferred tax, leases, intangible assets or financial instruments are possible topics for questions 4 and 5 this sitting.

First intuition

Q1 Consolidated SFP, with associate, deferred consideration, pups and fair value adjustment downwards.
Q2 Single company accounts question, including taxation, lease, and intangible assets.
Q3 Statement of cash flow and comments thereon with no ratios.
Q4 The framework with computation for non current asset.
Q5 Construction contract.

LCA

Q1 Consolidated SPL and OCI and Statement of Financial Position (with acquisition during the year).
Q2 Published financial statement (possibly adjusted rather than from a trial balance).
Q3 Cash flows and interpretation (including some ratios).
Qs 4 and 5 aspects of the conceptual framework and greater focus on the following standards:
– IAS 12 (deferred tax).
– IAS 17 (leases).
– IAS 18 (revenue) linked with IAS11 (construction contracts).
– IAS 38 (intangible assets).
– IFRS 5 (non-current assets held for sale and discontinued operations).

Becker

Leases.
Revenue recognition.
Substance v form.
Convertible instruments (IAS32/IFRS 9)
Accounting for taxation.
Accounting for assets, particularly IAS 16.
Accounting for taxation.
Lease accounting.
Events after the reporting period.

LSBF

Q1: CSFP or CIS with associates and contingent or deferred consideration; or CSFP plus CIS without Assoc.
Q2: Redrafting published accounts; or normal Published, both with 15 marks on standards.
Q3: Interpretation and/or cash flow, with 5 marks on standards.
Q4: Mixed standards and concepts, eg financial instruments, non-current assets, contracts, deferred tax, discontinued operations.
Q5: Mixed standards, eg substance, EPS, leasing, accounting policy changes, intangibles.

best of luck with exam!
ansi