ACCA F1, F2 and F3
As F1, F2 and F3 i.e. the knowledge module of ACCA is objective questions based so we cannot offer any guess regarding questions or types of questions as they are randomly selected from all parts of the syllabus. So students are advised not to rely on any guess work or do selective study to ensure good marks.
ACCA F4 Exam Tips – June 2013
Question 1: English Legal system
Question 2: Domestic and Commercial arrangement and doctrine of estoppel
Question 3: Breach of contract and its remedies
Question 4: Tort of negligence
Question 5: Duties of company secretary and discussion on ordinary and special resolutions
Question 6: Discussion on different types of shares and rights of such shareholders
Question 7: Differentiation between contract of service and contract for service and discussion on different labour law terms
Question 8: Scenario based on contract act between seller and buyer and their rights
Question 9: Liability of directors
Question 10: Implications of wrongful and fraudulent trading
ACCA F6 Exam Tips – June 2013
- Trading income adjustments (Major part)
- (professional fee, repair and renewals, other expenses, profit on disposal of shares, bank interest received, interest payable, capital allowances, purchase of factory),
- NIC, Occupational pension, Payment on account and balancing payment, factors for employee and self employed
Employment income benefits:
- Interest free loan, car, traveling allowance, deductible interest
- For company (Business property income, trading loss relief claim and calculate total taxable profits). Company(small, medium and large) corporation tax payment date.
Capital gain tax:
- Disposal of Car, house (principle private residence relief), Chattels, Bonus and right Share issue.
For inheritance tax :
- Death estate, Gift to trust and gift to relatives
VAT (Value Added Tax):
- Input and output Vat calculation, surcharge period
ACCA F7 Exam Tips – June 2013
Question 1: Consolidated Statement of Financial Position with Associate. Pay special attention on acquisition consideration. It is expected that part will have lots of complexities. A small discussion on consolidation related concept. Probably on equity accounting or fair value method.
Question 2: Published Accounts of non-group entity with adjustments on financial instruments,
Question 3: Interpreting performance using cash flow statements
Question 4: Events after balance sheet date
Question 5: Deferred Taxation or Convertible loan stock
ACCA F8 Exam Tips – June 2013
General impression: Expecting a challenging paper from a usual level as element of novelty will be visible in every question. So expect new areas or style of questions. The questions may come in particular order as mentioned below and resultantly their weightage may change in exams. But the following are highly likely topics.
Question 1: Risk assessment procedures at planning stage. Use of analytical procedures and may involve use of ratios. Small parts on confirming certain assertions.
Question 2: Using work of expert, external confirmation and emphasis of matter paragraph or others matter paragraph
Question 3: Subsequent events or Substantive procedures on capital expenditures
Question 4: Internal Audit, Audit committee, Using the work of internal audit
Question 5: Drafting a report or correcting given report
ACCA P1 Exam Tips – June 2013
Kohlberg’s model, AAA model for ethical decision making, issue and context based factors influencing ethical decision making, defining different types of risks, Identifying deficiencies in Internal controls and recommendation, Importance of robust internal control systems, Internal audit department rolls, duties and benefits, Performance related pay, Gray, Owen and Adam’s views, Different views about types of Stakeholders, risk assessment, insider and outsider system, director’s joining, dismissal and retirement, roles of NED, Executives, chairman, audit committee, risk manager, Absolute and relative views, TARA framework, Principles of corporate governance, Sustainability, environmental audit, threats to fundamental ethical principles.
ACCA P3 Exam Tips – June 2013
Porter’s five forces and Diamond model, SWOT analysis, strategy clock, what is Business case and project initiation document, value chain analysis, supply chain management, strategic evaluation, matrix structure, Variance analysis, Financial analysis for proposed investments, six sigma approach to address quality issues, identifying problems in current processes and business process re-engineering role of E business and E marketing, Project constraints, strategic change management, qualities of a leader, scientific approach, Critical success factors and key performance indicators.
ACCA P7 Exam Tips – June 2013
Section A will comprise two compulsory case studies (questions) containing total marks between 55 to 65
- Case studies normally contain requirements on planning, gathering evidences and applying procedures.
- Mostly question one and two will be asked in the form of an email from your audit partner and you have to respond to that email
- You must have to prepare briefing notes in respond to an email
Section B will comprise three questions but you will be asked to attempt any two questions. This sections will contain total marks of two questions ranging from 35 to 45
Short scenarios are given as compared to section above. In this part mostly questions are braked in two or three parts in the form of issued or matters E.g. issues or matters related with standards, ethics and reporting.
Note: professional marks are also given at professional exam level. They are usually awarded in section A ranging between 4 to 6 marks at your professional presentation in giving answers of letters, memo ,briefing notes or any other report
- Audit risk
- Risk of material misstatements
- Ethics ( complete)
- Reporting ( complete)
- Transnational audits
- Fair value Internal audit
Important International Accounting Standards (IASs)
- Differed tax IAS 11 IAS 37 IAS 1 IAS 17 Financial instruments Related party transactions
Important International Auditing Standards (ISAs)
- 200 240 320 330 300 315 500 510 520 550 570 580 700 705 706