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More ACCA March exam tips...

03 March 2017

MARCH 2017 ACCA EXAM TIPS FROM LSBF


F5
Sections A&B
The whole syllabus!
Section C
Divisional performance & transfer pricing.
CVP analysis.
Decision tree analysis.
Budgeting theory.

F7
Sections A&B
The entire syllabus, including the more obscure standards recent questions covered government grants, borrowing costs, investment properties, etc.
Section C
Ratios and interpretations.
Published accounts with standards, including cash flow aspects.
Consolidations.

F8
For MCQs focus on ethics, especially threats to objectivity & corporate governance principles.
For the three long questions:
- Substantive procedures - purchases or inventory.
- Internal control objectives, deficiencies and procedures, tests (purchase or inventory).
- Audit risk & response practical scenario.
- Audit reports scenario, with KAM and MURGC.
- Internal audit pros and cons of outsourcing, comparison with external audit.
- Different levels of assurance.
- ISA 220, 240, 250, 260, 560, 610, 720.

F9
Section B
Valuation.
Foreign exchange risk.
Working capital management.
Section C
Investment appraisal.
Business finance.

P2
Q1: Balance sheet or CFS.
Q2&3: Usual mix of revenue and PPE and intangibles and impairment and discounted and financial instruments, and the rest!
Q4: Current issues on provisions or groups.

P3
External analysis.
Evaluation of strategic choice using SFA
Relevant costs in decision-making.
Improving business processes/Harmon.
Scenario planning
Management of risk.

P4
Valuation with mergers and acquisitions.
Or, corporate reporting.
Hedging foreign exchange risk.
International investment appraisal.

P5
Selection of KPIs.
Technology & performance management.
Budgeting impact.
Building block model.
Divisional issues & selection of KPI.

P6
IHT with the death estate including BPR and APR and lifetime gifts gifts with reservation and relief for a fall in value.
Domicile including deemed domicile and election to be treated as UK domiciled and deed of variation.
Group question, sale of shares versus sale of the trade and assets.
Overseas aspects of corporation tax branch versus subsidiary and controlled foreign companies.
Relief for trading losses made by a sole trader/partnership at the beginning or end of the trading cycle.
Choice of accounting date made by an unincorporated business.
Cash basis of accounting .
Residency rules, remittance basis and overseas aspects of income tax.
Investment in a VCT the theory versus investing in a registered pension scheme.
Overseas aspects of VAT.
Share incentive plan versus EMI share option scheme.
Ethics conflict of interest or duties of a senior accounting officer.

P7
Audit risk, for a group.
Extra information needed to assess those risks.
Accounting matters and audit evidence.
Ethics and prof issues including:
- Money laundering.
- Advertising.
- Quality control.
* Audit reports including KAM and MURGC.
* Social/environmental or public sector disclosures evidence.
* UK stream insolvency.
* ISA 250, 260, 510, 560, 720.

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