is it alright to use a study text-Suitable for exams until August 2016- to prepare an exam for September 2016 session or will there be potentially many changes?
The current syllabus published for F8 covers exams up to June 2016. They haven’t published the syllabus for Sept 2016 onwards.
However, whilst here might be changes to the syllabus it is likely that these would be small as the syllabus now evolves constantly rather than having big changes. Therefore you are almost certainly safe to use the August 2016 text you have and update later should it become necessary.