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ATC's ACCA Exam Tips (June 2010) F7ENG

The examiner is Steve Scott, he has not published any articles in Student Accountant since August 2008. That article was on IFRS 3 (revised 2008), in the article he did state that he would be examining the new method of calculating non-controlling interest on a regular basis.

Q1 will be a consolidation question.
Q2 will be a final accounts question.
Q3 will be a ratio analysis or cash flow question or a mixture of the two.

Exam Tips
Common areas that feature on a regular basis in the exam are as follows
• Leases
• Revenue recognition
• Substance vs form
• Convertible instruments (IAS 39)
• Accounting for taxation
• Accounting for assets, particularly IAS 16

Important areas that have not been examined under the new syllabus and therefore may feature in the near future are
• Construction contracts
• Impairment of assets
• IAS 37, accounting for provisions

By Phil Bradbury

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