ACCA exam tips, advice, videos and strategies. Expert sharing information knowledge from FTMSGlobal ACCA Subject Specialist to help you pass your exams.
For more info about the ACCA course, visit: ACCA Preparatory Course
As always core areas of the syllabus that you can expect in the Dec 2013 examination include
In addition to these ideas you must be able to calculate and analyze financial ratios for every F9 exam. Performance evaluation of some kind is highly likely.
Also make sure you can explain EMH and briefly describe Islamic finance.
Q1 Prepare consolidated financial statements with adjustments relating to multiple non-consolidation FRSs
Q2/Q3 These questions will be scenario based which require you to advise on suitable accounting practices, include analysing and interpreting the financial position and performance of an entity. This may include the appraisal of ethical and professional issues in advising clients. The questions are likely to integrate many topics (FRSs) within a single question.
Q4 Likely to be an essay question which covers currently discussed issues (with application into mini-case question) such as:
Important FRSs you should not miss for this coming exam:
FRS110, FRS28R, FRS103, FRS12, FRS16, FRS18, FRS21, FRS36, FRS37, FRS38, FRS32, IFRS9, FRS102
FRS24, FRS33,
ACCA P5 TIPS FOR DEC 2013 EXAMS BY ELIOTT BETTS
Central themes at P5 mean you must always be able to contrast traditional approaches to performance management with more modern ones, financial with non financial and internal vs external factors.
Also ensure you revise on information technologies and the various MIS available to companies today.
Exam Tips for P6 Tax Paper
These are the topics that you want to concentrate:
(A) Individual Tax Planning
1. SP/Partnership/LLP v Co
2. Employment income
- structuring employment packages
- NOR scheme
(B) Corporate Tax Planning
3. Trading in/with Singapore – PE
4. Deemed Income and withholding Tax
5. Outward Investments – DTR/UTR
6. Corporate restructuring, merger and liquidations
7. Tax losses etc/Group reliefs
(C) Tax Incentives
8. Pioneer, Investment allowances, Development & Expansion incentive
(D) Others
9. GST – registration, types of supplies, partially exempt trader and group registration
10. Stamp duties and property tax
THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT YOUR OWN RISKS! (compiled by Fung CK, FTMS Singapore)
Likely to have a question on identifying business risks. Be prepared for defining and identifying risk of MM, see latest April 2012 article on the new term risk of MM. (See Dec 2008 Q1a and Dec 2009 Q1c). Must learn to link business risks to FS risks of MM (see June 2008 Q1). See Dec 2010 Q1a, June 2009 Q1 and June 2008 Q1a for business risk.
Roles of audit committee (= Functions of AC) and impact of AC on external audit.
Internal auditing – Reliance on IA, Evaluating IA function and evaluate adequacy of IA work, outsourcing IA issues to consider (from audit firm’s point of view, from company’s point of view), advantages and disadvantages of outsourcing IA to external audit firm. See Dec 2006 Q2 and June 2010 Q2.
Accounting problems/issues (Many past exam questions on these) Read up and focus on the recent 3 years for this type of question - Important areas include audit of provision (including warranty and decommissioning provision), deferred tax, share-based payments, government grants, impairment, related parties, investment property. Read Lisa’s article on how to tackle this type of accounting question in her article (where she talked about Type 1 vs Type 2 questions. Look out for the audit of accounting estimates and fair value (latest article in Jan 2011).
June 2013 Exam Tips by Mr. Luo Weijie Irwin
F1 (MCQ 50Q)
• Ensure familiarity with all topics as the questions can be based on ANY topic.
• Do not merely memorize. Ensure ability to apply the models when a scenario is presented.
There is a trend towards more and more scenario-based questions.
• Utilize the exam skills of eliminating wrong answers and making intelligent guesses.
• Write notes and finish the Revision Kit.
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