P7 kaplan exam tips december 2014 exams|ACCA

ACCA P7 Key Examinable Areas for December 2014 .
Note :These tips should only be used in along with proper studying.Please also read all the Examiner’s Articles which are available on the ACCA Global website.

Core areas (as per examiner’s approach article) likely to be examined in every paper:

Engagement planning and risk assessment (Business risk & risk of material misstatement)
Engagement procedures (or evidence)

Ethics and professional issues

Completion (matters to consider/evidence on file) and engagement reporting Current topics.

Subjects of recent articles:

IAASB Developments

Reporting on audited financial statements – significant changes proposed

Significant topics not examined for at least 18 months:

Understanding the entity

Related party transactions
Relying on the work of others including experts

Review of interim FS

Tendering

Joint audits Transnational audits

Opening balances

Subsequent events

Internal audit

Audit of social and environmental and integrated reporting

The examiner will set 5 questions, which will all have multiple elements, so it is likely that topics other than the ones noted above will be examined in the December 2014 exam.

The examiner has noted that questions will not be restricted to topic areas (e.g. question 5 will not necessarily be on audit reporting) and instead we should expect to see topics spread across a number of questions.

In addition, please note the case study questions in section A will have the requirements embedded in the question (see the article from the examiner ‘Changes in question style’). 4 professional marks will be available within one of the section A case study questions.

Finally, please note that the questions in the exam now have a fixed number of marks as follows:

Question 1: 35  , Question 2: 25 marks
Questions 3 to 5: 20 marks each 

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P6 kaplan exam tips december 2014 exams|ACCA

These should only be used in along with proper studying. Please also read all the Examiner’s Articles which are available on the ACCA Global website.

 Corporation tax

- Consortium relief
- Overseas aspects: CFCs
- Anti-avoidance: pre entry capital losses and trading losses - R&D
- Intangibles
- Patent box

 Capital gains

 - Reliefs: rollover, gift, disincorporation 

Inheritance tax

- BPR/APR
- Deed of variation
- New IHT rate for charitable legacies
- Lifetime gifts computation

 Income tax

- Income tax comps at marginal rates
- Benefits: car - Share incentive plans
- Overseas aspects

 Personal financial planning

 - VCT / seed EIS

Trusts

- Description and income tax aspects

VAT 

- Registration - Pre-registration input VAT 

Scenarios

- Employed vs. self-employed
- Sole trader vs. company - Lease vs. buy
assets: net cost
- IHT vs CGT for gifts

Stamp duty and SDLT
Ethics
 

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P5 kaplan exam tips december 2014 exams|ACCA

Focus on these tips along with proper studies. Also read Examiner, s articles available on ACCA website for this paper.

Benchmarking

CSFs and KPIs ( key performance indicators )

Modern role of management accountant

Ethics/ CSR  ( Corporate social responsibility )

ABM/ costing

Rewards and evaluation of a performance management system Evaluation of a performance measurement system

Divisional performance appraisal

BCG

Corporate failure

Performance Prism or building block

NFPOs ( not for profit organisations )

Quality

EMA  ( environmental management accounting )

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P4 kaplan exam tips december 2014 exams|ACCA

Remember that these tips are only genius guesses so can't be relied on completely without proper studies. So first of all focus on proper studying and then take a look at these core syllabus areas which are expected in December 2014 p4 exams.

ACCA P4 Key Examinable Areas for December 2014 :-

1-Currency hedging and interest rate hedging
- read the two recent articles published on the ACCA website .( Current examiner thinks critically about question 1 and makes highly technical and strategical )

2-Black Scholes option pricing model

3-Business valuation, especially using the free cash flow to firm methodology

4-Cost of capital calculations (including asset and equity betas) and Adjusted Present Value

5-Also read acca technical articles relevant to P4 paper which are available on ACCA website.

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P3 kaplan exam tips december 2014 exams|ACCA

ACCA P3 Key Examinable Areas for December 2014

NOTE:

These should only be used in conjunction with proper studying.No body can guarantee that these topics will appear in the actual ACCA exams as we have not seen the exam papers.

ACCA examiners are not predictable so it is vital that all main syllabus areas are revised fully.

These tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision.

Please also read all the Examiner’s Articles which are available on the ACCA Global website.

1-Project management and benefits management

2-The POPIT model

3-Strategy evaluation 4-Managing strategic change and culture

5-Decision making techniques

6-Strategic analysis

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P2 kaplan exam tips december 2014 exams|ACCA

ACCA P2 Key Examinable Areas for December 2014.

NOTE:

These tips should only be used in conjunction with proper studying.No body can guarantee that these topics will appear in the actual exam paper as we have not seen the ACCA exam papers.

ACCA Examiners are not predictable so it is vital that all main syllabus areas are revised fully.These exam tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision. Please also read all the Examiner’s Articles which are available on the ACCA Global website.

Here are some suggestions of key areas which may be tested in December 2014 exams:

Q1 Groups and ethics :-

Question 1 is so important to passing P2 that students must thoroughly practice a wide range of consolidation questions.

However, after a break of two sittings, it would not be a surprise to see a consolidated statement of financial position examined.

Q2 and Q3 :-

The examiner continues to test revenue, provisions and non-current assets held for sale on a regular basis. IAS 41 Agriculture is new to the syllabus and should be considered highly examinable. Some areas that have not been tested recently, or in less detail than expected, include:

-Share-based payments (IFRS 2)

-Impairment (IAS 36)

-Deferred tax (IAS 12)

-IFRS 10 and Control

Q4 – Essay-style question:-

ACCA have widely advertised the inclusion of Integrated Reporting in their syllabi and therefore students should make sure that they are familiar with the contents and purpose of an Integrated Report. However, question 4 in recent P2 exams has focussed on extant accounting standards and documents.

If this continues, then IAS 36 Impairment of Assets could be tested or, perhaps, the Framework.

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P1 kaplan exam tips december 2014 exams |ACCA

ACCA P1 Key Examinable Areas for December 2014.

NOTE:

These tips should only be used in conjunction with proper studying. No body can guarantee that these topics will appear in the actual exam as we have not seen the ACCA exam papers. Examiners are also not predictable, so it is vital that all main syllabus areas are revised fully. Theese tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision.

Please also read all the Examiner’s Articles which are  available on the ACCA Global website .

1-Corporate governance comparison of approaches – public v private sector

2-Conflict of interest and independence

3-Stakeholders and stakeholder claims

4-Effective internal control systems

5-Function and importance of internal audit 6-Risk correlation and strategies for management of such risks

7-Ethical standpoints and their application to business decision

8-Corporate codes of ethics critique and improvements

9-Tucker’s ethical decision making model

10-Corporate Social Responsibility:

–Comparison of approach (profit and not for profit organisations)  Integrated reporting  

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F9 kaplan exam tips december 2014 exams|ACCA

ACCA F9 Key Examinable Areas for December 2014 .

Investment appraisal:

This is a key topic which is highly likely to be examined every time. The most common technique assessed is NPV with inflation and taxation. It is worth bearing in mind that IRR has not been tested for over three years so may pop up in some form. It is wise to be prepared for applications of NPV such as replacement analysis as well as the more general discussion aspects relating to risk and uncertainty. In the most recent sitting capital rationing carried a substantial number of marks.

Working Capital Management:

Another key topic which is likely to examined every time. In recent sittings, the examiner has seemed fond of testing the cash operating cycle and also receivables management. It is wise to be prepared for a question focussing on payables management or inventory management. A discussion about funding strategies is a key discursive element.

Valuations:

This has been examined in virtually every F9 exam to date. The PE ratio and dividend valuation methods still appear to be the more examinable areas. Cash flow based values have yet to be examined. There are often high scoring discursive elements in this area of the syllabus for being able to discuss the implications of something on the value of the business or perhaps the various valuation methods. A discussion of the Efficient Market Hypothesis carried a fair few marks in the most recent sitting.

Business Finance: This topic has been heavily examined recently and in particular the impact of financing on ratios is an area the examiner likes. Candidates should make sure they are able to discuss the impact that different policies may have on a company by being able to both calculate and interpret financial ratios. Ability to be able to discuss the characteristics of various sources of finance is paramount and most importantly to able to relate suggestions/ comments to the scenario at hand.

Cost of Capital:

This topic features in virtually every exam to a greater or lesser extent. Good coverage of all of the syllabus areas is therefore essential to ensure students can handle any eventuality on the day. Candidates should feel confident when using the CAPM formula and calculating the overall cost of capital (WACC) and going on to discuss the impact of the cost of capital on investments. It has been a while since the examiner has focussed on a discussion relating to gearing theories.

Risk Management:

Within this section of the syllabus, foreign exchange risk has been examined more often than interest rate risk. However, both are fairly under-examined areas of the syllabus as a whole and so this is a topic worth being on top of. Questions in this area can often be wholly discussional or may involve some basic calculations. The Financial Management Function and The Financial Management Environment:

We can probably expect an element of these syllabus areas to feature as a tag on discursive element within one question on the exam. This part of the question can provide some easier knowledgebased marks and therefore is worth some focus.

The examiner repeatedly comments that this area of the syllabus is not dealt with by students as well as it should be. Perhaps this is due to focus being given to other more technically challenging parts of the syllabus but this area can provide some relatively easy knowledge marks so should not be over-looked.

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F8 kaplan exam tips december 2014 exams|ACCA

ACCA F8 Key Examinable Areas for December 2014

 NOTE:-

These tips should only be used in conjunction with proper studying. We cannot guarantee that these topics will appear in the actual exam as we have not seen the exam papers.

Examiners are not predictable so it is vital that all core syllabus areas are revised fully.
The tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision.

Please also read all the Examiner’s Articles –available on the ACCA Global website.

Audit Framework:

Ethics / confidentiality / Audit committees

Internal Audit:

Direct assistance by internal audit for external audit Planning and Risk:

Audit risks and responses

Internal Control:

Cash, inventory, purchases (including tests of control)

Audit Evidence:

Purchases, revenue, inventory

Completion & reporting :

Written representations (ISA 580), Subsequent events (ISA 560), and Auditor’s reports

 Specific standards/topics:

Limited assurance engagements
Expectation gap
Auditor rights and duties
Benefits / limitations of audits Engagement letters (ISA 210) Fraud and error (ISA 240)
Laws and regulations (ISA 250)
Components of an internal control system (ISA 315)
Inherent limitations of internal control Risk assessment procedures (ISA 315)
Auditing accounting estimates (ISA 540) Financial statement assertions

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F6 kaplan exam tips december 2014 exams|ACCA

Here are some suggestions of key areas which may be tested in December 2014 exam f6 taxation : -

 Income tax:

– Personal allowance reduction/personal age    allowance

– Husband and wife/civil partners

– Some exempt income/benefits

– Employed vs. self-employed

– Residence

– Charitable donations

– Property income – possibly FHL/rent a room relief

– Partnership

– Losses – choice of relief/tax saving/maximum deduction restriction

– National insurance

– Self-assessment

– payments on account, filing, amendments

– Interest/penalty – explanation/calculation

 Corporation tax:

– Possibly a straddling period

– Long period of account

– Definition of a CAP – Chargeable gains to calculate

– Residence

– Penalties for late filing of return and/or interest on late payment

– Quarterly instalment payments

VAT:

– Separate part of question 1 or 2 or whole question 4/5

– Discounts

– Impaired debts

– Invoices/simplified invoicing

– Deregistration and transfer of a going concern

– Errors

– Overseas aspects

– Flat rate scheme

 Capital gains tax:

– Husband and wife making disposals – Wasting assets or chattels

– Exempt assets

– PPR relief

– Gift relief

– Takeovers

 Inheritance tax:

– Transfer of unused NRB between spouses 

Note : Also read technical articles for F6 on ACCA website.

Sundry topics for questions 4 and 5 – Comparative scenario or other new style question : – Self assessment – Ethics – including general anti-abuse rule  

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F5 kaplan exam tips december 2014 exams|ACCA

F5 key examinable areas for December 2014.

These tips should only be used in conjunction with proper studying. These tips are just intelligent exam surgery for Paper F5 december 2014.

ACCA Examiners are not predictable so it is vital that all core syllabus areas are revised fully.

These tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision. Please also read all the Examiner’s Articles which are available on the ACCA Global website .

Here are some suggestions of key areas which may be tested in December 2014 F5 exam paper:

1-Specialist Cost and management accounting techniques :

– Target costing
– Lifecycle Costing
– Environmental accounting

2- Decision Making techniques

– Relevant costs
– Limiting factors
– Shut down decisions – Payoff tables
– The value of perfect information Budgeting
– Different types of budgetary systems

3-Budgeting :

– Types of budgets
– Quantitative analysis
– Behavioural aspects of budgeting

 4-Standard costing and variance analysis :

– Different types of standard costs used in budgets
– Mix and yield variances – Planning and operational variances
– Behavioural aspects of standard costing

5-Performance management systems, measurements and control :

–Transfer Pricing
   ROI and RI
  The scope of performance measurement

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