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hi sir,
In bpp there is a seperate chapter called test of controls … explaining each system eg : sales ,receivable ,payroll etc control objective , control and test of control in tabular format .
Should i study that chapter or without doing that chapter can i just study ot internal control chapter and wil li be able to do past paper questions ?
should i memmorise these controls and how they are tested and all ? iam confused , hope i will get a good reply .
thankyou.Read through the BPP chapter and try to understand what’s going on. I don’t think you need to remember the chapter verbatim.
Basically you think ‘What could go wrong?’ and what control would prevent that or correct it.
Once the control is there, thinking of a test for it is relatively easy.
Look at the OT lectures on controls . They emphasise the need to have a watertight trail from the start of the transaction right the way through to its conclusion (and that audit trail should be reversible).
Thnkyou sir. In ot chapter otherthan internal control which chapter explains the above mentioned concepts? And it will be good to do past paper once i have completed the ot notes and lectures ryt ?
There is just the one chapter.
You should do questions as you study. See here for an analysis of past questions so that you can choose suitable ones:
https://opentuition.com/articles/f8/acca-f8-questions-analysis/
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