ACCA exam tips, advice, videos and strategies. Expert sharing information knowledge from FTMSGlobal ACCA Subject Specialist to help you pass your exams.
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June 2013 Exam Tips by Mr. Luo Weijie Irwin
F2 (MCQ 50Q)
• Keep in mind that theory questions make up a significant part (up to 50%) of the exam.
• Besides knowing HOW to calculate, be able to understand WHY a certain model or formula is used.
Fully comprehend the purpose of the formula.
• Instead of just knowing the formulas, be able to manipulate the formulas and work backwards.
• Utilize the exam skills of eliminating wrong answers and making intelligent guesses.
• Write notes and finish the Revision Kit.
June 2013 Exam Tips by Mr. Lim Teck Chuan (Ivan)
Hot topics:
Consolidation
Ratio
IAS 16, 37 & 10
Correction of errors
Accrual & prepayment
Bank Reconciliation Statement
Bonus issue, Rights issue & cash issue
Incomplete records
Exam success
• Do not spot question. Candidate must note that the examiner will test every area of the syllabus so you must revise all topics.
• Do not rush. Be systematic in your revision. Candidates must ensure they have strong double entry book keeping concept by practicing preparation question before attempting exam style question.
• Practice. It is possible to complete the revision kit. Upon completion, chances of doing well in examination will be greatly increased.
• Be familiar with exam condition. Candidates may not be familiar with computer based examination.
• Time allocation. Feedback from candidates on this paper is unable to complete the exam within the given time. The exam is a combination of ‘straight forward’ and ‘Time consuming’ questions. By looking at the length of question, Candidates will be able to assess whether the question is ‘straight forward’ or ‘Time consuming’. Candidate may wish to attempt all ‘straight forward’ question first as it is essential to obtain all possible ‘easy marks’.
Lastly, I wish you all the best in your ACCA route.
June 2013 Exam Tips by Mr. Balwant Singh
The following should be the main focus areas for the 5 questions:
1) Costing
- Target costing
- Life cycle costing
- Theory of constraints
2) Decision making
- Linear programming
- Decision Rules
- Relevant costing
- Pricing decision
3) Budgeting
- Learning curves
- Flexible budgets
- Regression analysis
4) Standard costing
- Sales Mix & Quantity variance
- Market share and size variance
- Basic Variance analysis including reconciliation statements
5) Performance Measurement
- Financial & non financial performance measures
- Balanced Scorecard theory
Note that to pass, there is no substitute for adequate preparation and hence a comprehensive review of the whole syllabus is required. The above list of topics should therefore be viewed as best not be left out in your revision.
June 2013 Exam Tips by Mr. Luo Weijie Irwin
• DO NOT QUESTION SPOT. Study all topics. But be smart, refer to the exam planner I gave u and devote slightly more time to topics that have not been tested for a long time.
• Keep in mind that theory questions make up a significant part (up to 50%) of the exam.
• Always apply MOST, if not ALL, of the information in the scenario when answering theory questions. If you donít, you are missing the point. Remember, “Everything happens for a reason”.
• Be able to explain WHAT the model is used for, its advantages and disadvantages.
• Ask yourself questions like “Why was this model created? Was an older model inferior and had to be replaced? In what situations is this model useful? A factory environment?”
• Use the reading time to mark the questions you will do first. Do not forget that certain theory questions are very simple and that it takes less time to earn those marks than to do a calculations question.
• Watch your time. Rule of thumb: 2 minutes for 1 mark. Be brave and willing enough to move on to the next question if you run out of time.
• Do not leave your common business sense at home. Just because it is not in the textbook does not mean your answer is wrong. For theory questions, common sense will also get you marks.
• Write notes and finish the Revision Kit. To master calculations, do not deceive yourself, practising is the key.
June 2013 Exam Tips by Mr. Chin Yoke Lan Francis
Question 1 (30 marks)
Focus on Company’s Tax
- deduction of expenses
- taxability of income such as rental income, royalties, interest income etc
- capital allowances/PIC allowances/approved donations
Practice all the questions on this tax computation for Company and score as many marks as possible.
Question 2 (25 marks)
Focus on individual tax
- employment income
- partnership/LLP income
- other income such as rental income, royalties, interest income etc
- personal reliefs
- husband and wife tax
Practice all questions on this tax computation for individuals and score as many marks as possible.
Question on GST
Only one chapter on GST.
- study this chapter thoroughly!!
Do as many GST questions as you can find.
Note:
If you do the above 3 questions well, you will pass the paper. If you also do the other 2 remaining questions, you can score well for this paper.
All the very best……….
Empowering your study skills:
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