ACCA Exam tips for June 2008-FTC
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下一篇 2008-05-09 11:11:01
ACCA Exam tips for June 2008
NOTE: These exam tips should only be used in conjunction with proper studying.
We cannot guarantee that these tips will appear in the actual exam as we havenot seen the exam papers. The tips are based on Kaplan’s experience andunderstanding of the ACCA exams.
F4 – Corporate and Business Law
Tips include:
English Legal system
Law of Obligations
* Contract Law
o Consideration
o Types of terms
o Remedies
* Law of tort - Professional Negligence
Employment Law
* Wrongful and unfair dismissal
Formation and Constitution of Business Organisations
* Partnerships
o Authority of partners
o Dissolution
Capital and financing of companies
* Loan capital and differences between fixed and floating charges
Management, Administration and Regulation of Companies
* Types of directors
* Removal of directors
Insolvency
* Differences between compulsory and voluntary winding up
* Administrations
Governance and ethical issues relating to business
* Fraudulent and wrongful trading
F5 – Performance Management
Tips include:
* Performance measurements with both financial and non-financial indicators
* Budgeting with learning curve or ABB
* Variances Mix and Yield
* Decision making either apply decision criteria or linear programming
F6 – Taxation
Tips include:
Income tax
Employment Income, self employed, property income, Income tax computation and loss
reliefs
Corporation tax
PCTCT, allowable expenditure, capital allowances, relief fro trading losses
VAT
Registration, accounting schemesCGT
Part disposals, Chattels, Share identification rules for individuals, exemptions and reliefs
F7 – Financial Reporting
Tips include:
Q1 Consolidated Statement of Financial Position / Balance Sheet plus Income Statement /
Profit Loss, subsidiary only, possible mid-year acquisition.
Q2 TB to financial statements, including non-current assets / fixed assets (possible sum
of digits depreciation), deferred taxation.
Q3 Cashflow and related analysis report.
Q4 Q5 Impairment
Framework / Statement of Principles
Construction contracts
Not-for-profit entities (3 E’s: Effectiveness, Efficiency, Economy)
F8 – Audit and Assurance
Tips include:
* Identify and explain / address risks in a scenario
* Substantive tests on debtors/receivables, stock/inventory
* Weaknesses in internal controls and recommendations (sales, payroll)
* Types of assurance assignments
* Completion – overall review
* Confidentiality and conflicts of interest
* Role of internal audit, reliance by external auditors
F9 – Financial Management
Tips include:
Investment appraisal
NPV/IRR with tax and possibly inflation.
Payback, replacement analysis and capital rationing
Working Capital Management
Receivables and Payables
Business Finance
Gearing/capital structure calculations and comment thereon
Cost of Capital
CAPM theory, its advantages and disadvantages, and its use in calculating a cost of equity
and a risk adjusted WACC
Risk Management
Hedging foreign exchange risk and interest rates and risk management
Valuations
Asset and cash flow based values
The Financial Management Function and the impact of the economic environmeupon it
Objectives in both the corporate and NFP sectors
P1 – Professional Accountant
Tips include:
Governance problems and solutions
Roles of directors
Internal audit scope
Risk analysis
CSR policy decision
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