ACCA EXAM TIPS FROM ICOUNT DEC 2011

EXAM TIPS FROM ICOUNT DEC 2011

F4 Corporate and Business Law

·          Contract breach

·          Employment tests

·          Company articles and memorandum

·          Corporate governance

·          Loan capital

·          Limited liability

F5 Performance Management

·          Linear Programming

·          Analysing Performance using Financial and Non Financial Indicators

·          Activity Based Costing

·          Relevant Costing

·          Budgeting

F6 Taxation

·         Adjustments to accounting profits to calculate income tax of a sole trader.

·         Corporation tax basic groups.

·         Chargeable gains for individuals or companies.

·         Accounting for VAT, including registration dates.

·         Income tax losses.

F7 Financial Reporting

·         Consolidated group accounts with parent, sub and associate - with intergroup trading, items in transit and FV adjustments.

·         Redraft of single entity accounts with adjustments 3. Statement of Cashflow with liquidity ratios.

·         EPS/Construction Contracts

·         Features of a finance lease, with computations.

F8 Audit and Assurance

·         System deficiencies and controls

·         Corporate governance

·         Audit assertions and appropriate audit procedures.

·         Written representations

·         Ethics and safeguards.

F9 Financial Management

·         Net Present Value

·         Working Capital Management

·         Types of finance and WACC – change in Business Risk

·         Analysing performance – financial & non financial measures

·         PE and DVM valuations

P1 Governance, Risk & Ethics

·          Transaction cost versus agency theories

·          Board committees

·          Risk management and the role of internal audit

·          Controlling organisational risks

·          Absolutist versus relativist ethical theories

·          Professional ethics

P2 Corporate Reporting

·          Consolidation Statement of Comprehensive Income (with complex groups)

·          Consolidated Statement of Cashflow

·          Accounting treatment for Pension / Share based payments.

·          Current developments within IFRS'/IAS'

·          Financial instruments at FVTPL and amortised cost.

P3 Business Analysis

·         Project management skills

·         Internal resources and competences

·         Supply chain management

·         Decision tree

·         Budgeting

·         Change management

P4 Advanced Financial Management

·         Overseas Net Present Value

·         Financing incorporating change in Business Risk

·         Black Scholes

·         Corporate failure

·         Interest rate risk management

P5 Advanced Performance Management

·          Quality measurement

·          PEST/Porters 5 forces

·          Incremental Budgeting

·          Public sector performance measurement

·          Activity Based Costing

P6 Advanced Taxation

·         Advising on IHT mitigation with CGT aspects of lifetime gifts.

·         Corporation tax groups with VAT groups.

·         Sole trader trading losses.

·         Employee share schemes.

P7 Advanced Audit and Assurance

·         Audit opinion

·         Evidence

·         Transnational audits

·         Business and financial statement risk

·         Ethics

Quality control