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Hi sir, should I utilize the 15 minutes to planning for ALL 5 questions or I should concentrate on Q1? Because usually Q1 will spend us almost an hour to answer.
Hi there, I would like to answer ur question if you don’t mind 😀
I was advised by my tutor that during the 15mins time first of all you should do as follows:
– (if u believe in God,pray) if not hope for a miracle to happen
– Read all requirements from Q1 to Q5-underline key points
– Anything that are Substantive Procedures, Test of Control, jot down next to the question (i.e. ToC- ORICE (Observe,Reperform,Inspect,CAATs,Enquire and discuss) so that u won’t forget.– Take only one hour 10 mins to attempt the whole Q1
– Make sure u take only 20mins to answer Q2
– Q3 and Q4 maybe 36minsI hope this help! Goodluck! 😀
Hi there, thank you very much for your reply. It is very helpful. Good luck to u too ^^
Hi buddy, I always get confuse with the TOC & Substantive Procedures.
I understand that TOC is test on the control system not the amount in the financial statement.
But I always mixed up & can’t think of any .. Do u have any good suggestions for me?
Hi there,
As for me, I try to memorise all the Substantive Procedures (it helps me to differentiate TOC and SP) and bare in mind that Analytical Procedures, External Confirmation and Recalculation is not TOC. I would say to myself “are u trying to find the actual misstatement or to test the effectiveness of ICS?”
I sometimes struggle to think of it as well but as I said I keep asking myself that question. I found this very useful mind map if you would like. It is the entire syllabus of F8 I hope this help!
it depends on the paper u r writing but getting a feel of the entire paper and making annotations on your script would be a good use
Hi eijamalcolm92,
As u told me earlier TOC including reperform, what can we reperform? I always thought that reperform = recaluculation.
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Hi guys,
This is how I used to utilize my 15 min reading time.
Assume you are having 4 Q’s and your exam starts at 1.00 pm. (1.15 you start writing)
Sec A – 50 Marks
Sec B – Q2, Q3, Q4 – 25 Each (Attempt any 2)FIRST THING I USED TO DO:
Time Allocation : 1.8 Min per Mark. (write it down beside your Question) – It will also applicable for the other exam papers as well which your appearing in the same sitting.
Q1: 90 Mins – Finish by 2.45 Pm
Q2: 45 Mins + 45 Mins – Finish by 3.30 Pm and subsequently by 4.15 PmSecond, read ONLY the Requirements (not the whole question) of all the Choice Questions (selecting 2 of the 3 Question which you are going to attempt.) Once you read the requirements, Select the questions you are going to appear, because we select the topic we would know the most. (Keeping in mind the Time allocations)
Go to the Main Compulsory Question (SEC A) and start reading it and focus on it till u finish it.
Advantage of doing this:
1- Saves lot of reading time. (repeated reading for SEC B Part.)2- Dont have to read the Next Question (summary) again once you have completed answering SEC A, as you have been totally focused on Q1 (Compulsory)- At times you might forget what you have read earlier. (You can start the Next Question with a fresh mind).
3- You can complete your First Question (writing the answer) with having 5 – 8 mins bonus time.
4- In the end if your lucky you will have 3 mins spare time. Just have a quick glance through your answers.
NOTE: Do not overrun on one answer itself. Allocation of time is necessary.
Hope this helps you.
Regards
Hello 1692317,
Normally we reperform the matching between sales invoices and GDN’s, or reperform bank reconciliation done by client. Reperform is like u redo whatever client has done, my tutor also told me whenever u see the word matching, the TOC should be reperform.
Recalculate is when u recalculate the depreciation charge or disposal charge to ensure mathematical accuracy. 😀
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