ACCA announced changes in study guides for 2012

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Although ACCA has announced the changes in syllabus guides of several ACCA subjects back in October 2011. However, not many are aware of such changes.

As 2012 has approached, it will be good if the changes in the syllabus guides of relevant subjects are reviewed and preparation tactics are fine tuned accordingly.

Although the changes brought forward for 2012 session are not extensive as compared the ones made at the start of 2011 but still these are not so minor that should be ignored.

This time the purpose of changes was more of a clarification in nature rather than significantly updating or renewing the syllabus so that all the stake holders can understand the course better.

Brief account of the changes is given as follows:

ACCA F1, F2 and F3 got no changes and until January 2013 no further changes are expected down the road.

ACCA F4, received some clarification in syllabus guide so that stakeholders especially tutors and learning providers can better understand the scope of examinable areas. Changes have been made in both Global and English variants of ACCA F4. Following is the summary of additions and deletions:

ACCA F4 (ENG)

Additions
Deletions
Explanation of nature of Treasury shares added under Capital maintenance section

Bribery, nature and legal control added under section related to Fraud and Criminal activities

Nothing has been deleted.

ACCA F4 (GLO)

Additions
Deletions
Explanation of nature of Treasury shares added under Capital maintenance section

Bribery, nature and legal control added under section related to Fraud and Criminal activities

Different types of law and public and private international law has been deleted from Different legal systems and International trade, Intenational regulation sections of Area A of syllabus respectively.

ACCA F5: Although no change has been made in study guide however one important clarification has been made which is already well understood by learning providers and students. Previously, only calculation of value of perfect information was stated in study guide of ACCA F5 and it was unclear whether value of imperfect information is also required or not. However, not it has been cleared by including both.

ACCA F6 is the other subject in foundation series that received some major touch ups and trimming. Changes are important for those students studying UK variant.

ACCA F7 received no changes at all

ACCA F8 received some tuning which was necessary. As few topics were previously in the syllabus which were neither helping student nor examiner. This has been fixed however, with some deletions and additions.

Additions
Deletions
Planning interim audit added under Planning section

Going concern indicators are now required under Going concern part.

Process of preparation of internal audit reports

ACCA F9: Nothing new has been introduced nor anything old is deleted.
However, previously study guide was silent whether discounted payback method/technique will be examined or not. But even in absence of clear statement, vast majority understood its implicit inclusion as it is one of the common methods. Now it has been added clearly.

ACCA P1 that got its name updated last time received two additional requirements for 2012 exam sessions. It seems that areas which were used to be in F4 previously are moved to P1 to better align and complete corporate governance discussion. But definitely the level of understanding required will be higher then foundation stage.

Additions
Deletions
Bribery and corruption in context of corporate governance and how they affect the confidence and trust level 

Different measures that are used to safeguard against bribery and corruption

Nothing has been deleted

ACCA P2, P3, P4 and P5 surprisingly received no changes. However, P5 syllabus has been clarified

ACCA P6 (UK) got its “excluded topics” extended as industrial building allowance is now excluded.

ACCA P7 now has some additional areas examinable in planning and reporting stages of audit. It seems that such topics which were not included in P7 but also cannot be examined in more technical manner in F8 are now included in P7. Areas that received additional requirements are related to key stages of audit execution i.e. planning, assignment and reporting.

Additions
Deletions
Scope of risk identification at planning stage has been revised and extended as planning issues related to initial audit engagement are now included.

Audit planning issues that arise in group audit and how group audit is affected with changes in group structure is now also examinable.

Form and content of audit report that changes with the situation at hand. Previously only unmodified reports were included. Also different actions that auditor can take in case of modified opinion are now also part of syllabus.

Nothing has been deleted
To read more about these changes click here.

2 COMMENTS

  1. SAve FRom ACute business college its totally fraud faculty wastage of time and mOney.even this college doesnt shows FACulty s EDucation nd experience of teaching B CAREFULL ACCA , FIa , CIMA students.

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