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March Optional paper exam tips

03 March 2017

BPP's OPTIONAL PAPER EXAM TIPS FOR MARCH 2017

P4
Q1
• Project appraisal (domestic & overseas)
• Business valuations.
• Both are likely to include cost of capital calculations.
• Risk management – VaR, real options, hedging and risk mapping.
Q2-4
• Risk management – currency or interest rate.
• Business re-organisation.
• Real options.
• Ethical & general financing issues – dividend policy.
• Behavioural finance – see examiner’s recent article.

P5
Q1
• KPIs and EVA.
• Transfer pricing.
• Ratios.
• Analysis of quality related costs.
• ABC.
• Performance management frameworks – building blocks, performance pyramid, and the balanced scorecard.
Q2-4
• Quality management.
• Information reporting – CSFs and KPIs.
• Application of strategic models – PEST, Porter’s 5 forces, the value chain.
• HR frameworks – reward and appraisal systems.
• Risk management and environmental management accounting.
• Read the examiner’s big data, integrated reporting and performance management model articles.

P6
• Group of companies – overseas aspects and losses.
• Unincorporated businesses, particularly loss relief or involving a partnership – basis period rules.
• CGT versus IHT – available reliefs.
• Overseas aspects of income tax, CGT, IHT or corporate tax.
• Personal service company.
• Shares schemes.
• Company purchase of own shares.
• Enterprise investment schemes/Seed EIS/venture capital trusts.
• Takeover.
• VAT – partial exemption or land & buildings or transfer of a going concern or overseas transactions.
• Transfer of trade versus sale of subsidiary.
• Disincorporation relief.
• Pension contributions.
• Patent box, research and development expenditure.

P7
Section A
• Planning, risk assessment, evidence gathering and practice management.
• A non-audit engagement such as prospective financial information (PFI).
• Due diligence.
• Audit completion.
• Consolidated groups.
Section B
• Audit evidence.
• Financial reporting issues.
• Practice management – ethics & quality control.
• Reporting – completion & communication.



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