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Hello
I have a very imp question regarding how to answer questions in f8. Will i lose any marks if i just try to answer questions mainly in my own words? the technical language particularly in the bpp text book is very difficult and comparatively i find the OT notes and Emily wolf text book much easier to follow. is it ok if i just understand the concept and answer the question based on my own wordings with less technical language?
for example in ethics topic there is lot of common sense however bpp text book has used very difficult language to explain simple concepts of ethics. please advise what to do since its impossible for me to learn everything by heart and to replicate the tough bpp language.
just to give you an example: The concept of financial interest as a threat to objectivity and independence under self interest in ethics is very simple concept.
“you cant own shares in a client company neither can your audit firm or family member and if you have financial interest then the safeguard is to dispose shares, remove the person from audit team etc”
is this language ok above in inverted commas or do i have to learn bpp language by heart?
please advise
thanks
See:
https://opentuition.com/topic/terminology-2/
Your words in inverted commas make sense but they do not includes the term recognised in the Code of Ethics ie objectivity, independence and self-interest. These are not BPP’s words they are ACCA’s. You would certainly get marks for what you said but would lose some for lack of precision.
thanks gromit. yes i understand that the precise names of the terms are important but my question above is regarding the explanation of the term.
for example the above sentence in inverted commas above is the definition of financial risk that comes under self interest which is a threat to objectivity and independence.
is my explanation above right for the definition of financial risk?
Yes, your explanation about how a self-interest threat can arise from a financial interest in the client is fine.
ok thanks for that clarification. So its ok right if i remember the actual names of the terms and concepts but use my own words for explanation? for example i am using explanations also from your f8 lectures since the explanation of concepts in lectures here at OT is much easier to follow then the explanation in bpp. is that ok?
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