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Really last years?

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??bpp tips ,,,

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I have not got a clue as to how to access these tips. Please help.
I want Kaplans Tips

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P1 - June 2009 Tips

Question 1
Typical Paper P1 - Question 1 - look at last 8 (?) questions from BPP revision kit - lots of corporate governance, audit committees, internal auditors

Question 2
Risk and environmental auditing - see examiner's article from April 2009 Student Accountant

Question 3
Ethics - a scenario question looking for advice and comment on different ethical attitudes

Question 4
A discussion question about the advisability of the requirement of appointing needs to public company boards

For friends who need tips for other papers - please click on the link above, and search on their site.

JULIET ASIYA

Hi, i can see the FTC Tips are already posted,but i have failed to get P4, because i cant find them Please help.

omerpk

F5 – PERFORMANCE MANAGEMENT

The new structure of the exam suggests that there will be one question from each syllabus area. While it is not easy to predict questions for this paper, the following areas may be due for testing.

* Specialist cost and management accounting techniques - throughput and back-flush Accounting
* Decision making techniques - Relevant costing or pricing
* Budgeting - Written question on budgeting, e.g. purpose of budgeting, behavioural aspects, approaches
* Standard costing and variance analysis - Planning and operational variances (the examiner has just released an article on this)
* Performance measurement - Transfer pricing

F6 – TAXATION

Income tax

* Husband and wife
* One spouse having savings income in starting rate band
* Joint investment income
* Some exempt income
* Gift Aid donations extending basic rate band
* Age allowance
* Furnished holiday lettings (treat as trading income)
* Adjustment of profits
* Capital allowances
* National insurance

Corporation tax

* Period straddling 31 March 2008
* Possibly a short period of account
* Capital allowances
* Rental profits with lease premiums
* Quarterly accounting for large companies
* Groups with capital gains

VAT

* Separate part of question 1 or 2
* VAT return
* Compulsory registration
* Cash accounting

Capital gains tax

* Individual making disposals
* Disposal of a business with Entrepreneurs’ relief
* Disposal of chattels
* Principal private residence relief
* Part disposal

Sundry topics for questions 4 and 5

* Company losses
* Sole trader losses
* Badges of trade

F7 INT – FINANCIAL REPORTING

Question 1
Consolidated SFP for either 2 or 3 company group Potential complications to include deferred consideration, share exchange and net asset fair value Adjustments, inter-co loan and PURP.

Question 2
Redraft statement of comprehensive income and statement of financial position - possible transactions to include depreciation, revaluation investment property, revenue recognition/substance, leases, financial liabilities, income tax.

Question 3
Possible mixed interpretation question to include calculation of a basic statement of cash flow and a report to include calculation of ratios and interpretation of the accounts using the statement of cash flow and ratio results.

Question 4 and 5
Construction contracts, IASB Framework (elements or qualitative characteristics),
Impairment, Events after the reporting date or EPS.

F7 UK – FINANCIAL REPORTING

Question 1
Consolidated B/S for either 2 or 3 company group
Potential complications to include deferred consideration, share exchange and net asset fair value adjustments, inter-co loan and PURP.

Question 2
Redraft profit and loss and balance sheet - possible transactions to include depreciation, revaluation, investment property, revenue recognition/substance, leases, financial liabilities, corporation tax

Question 3
Possible mixed interpretation question to include calculation of a basic cash flow statement and a report to include calculation of ratios and interpretation of the accounts using the cash flow and ratio results.

Question 4 and 5
Long-term contracts, ASB Statement of Principles (elements or qualitative characteristics), Impairment, Events after the Balance Sheet date or EPS.

F8 INT – AUDIT AND ASSURANCE

The Examiner will set 5 questions, which will all have multiple elements, so it is likely that other topics than the ones noted below will be examined in the June 2009 exam.

Audit procedures
Inventory
Purchases

Facts/standards
Engagement letters/acceptance
ISA 240 Fraud and Error

Risk & audit approach
Identification of risks in audit risk model

Specialist audit areas
Interim audit
Confidentiality/conflict of interest

Collection of evidence/reporting
Going concern

F8 UK – AUDIT AND ASSURANCE

The Examiner will set 5 questions, which will all have multiple elements, so it is likely that other topics than the ones noted below will be examined in the June 2009 exam.

Audit procedures
Inventory
Purchases

Facts/standards
Engagement letters/acceptance
ISA 240 Fraud and Error

Risk & audit approach
Identification of risks in audit risk model

Specialist audit areas
Interim audit
Confidentiality/conflict of interest

Collection of evidence/reporting
Going concern

F9 – FINANCIAL MANAGEMENT

Investment appraisal
This is a key topic which seems highly likely to be examined every time. NPV/IRR with tax and possibly inflation and working capital is a favourite topic of the examiner. Payback, replacement analysis, capital rationing and lease v buy are areas which thus far he has avoided.

Working Capital Management
Another key topic which is likely to examined every time. Exams to date have covered much of this topic. Receivables are traditionally the most popular topic and have been examined most recently. Inventory and cash are less examined topics which are perhaps due a turn.

Valuations
This has been examined in every F9 exam to date so is clearly a favourite of the examiner. Asset and cash flow based values have yet to be examined.

Business Finance
This topic was heavily examined in both December 08 and December 07 exams. However financing ratios are an area the examiner likes. Gearing/capital structure calculations and commentary are a favorite of his and so always worth being on top of. Kaplan Financial 2/2 June 2009

Cost of Capital
Following the recent string of articles on CAPM theory, both the December 08 and June 08 exams featured questions in this area. Although the examiner might choose to leave this topic alone this time, you should still ensure you have a good understanding of this area.

Risk Management
Hedging foreign exchange risk seems popular with the examiner but it was covered quite extensively in the December 08 exam. Interest rates and risk management were also touched upon. Despite its recent appearance, don’t rule out it coming up again.

The Financial Management Function and the impact of the economic environment upon it. These topics have largely been ignored thus far although a discussion of agency theory was called for in the December 08 exam. Despite the examiners assertion in his first article about F9 that all topics carry equal weight we can probably expect these topics to continue to take a back seat. Having said that the most examinable area here is probably that of objectives in both the corporate and NFP sectors.

P1 – PROFESSIONAL ACCOUNTANT

Section A: Compulsory

* Always covers range of syllabus areas
* Some element of ethics in this question

Key topics – in section A or B:

* Remunerations committee
* Stakeholders: Mendelow or categories
* Normative / instrumental views of stakeholders
* Board structure: family / insider or unitary / two tier
* Auditor independence
* Environmental / risk auditing
* Removal of directors
* Risk & return balance
* Corporate Social Responsibility (CSR)
* Eco-Management Audit Scheme (EMAS)

P2 INT – CORPORATE REPORTING

* The comprehensive income statement
* Disposals
* Step acquisition
* Ethics
* Creative accounting
* IFRS 3 revised
* Deferred tax
* Leases
* Share based payment
* Financial Instruments
* Impairment
* The credit crunch

P2 UK – CORPORATE REPORTING

* Disposals
* Step acquisition
* Ethics
* Creative accounting
* Deferred tax
* Leases
* Share based payment
* Financial Instruments
* Impairment
* The credit crunch

P3 – BUSINESS ANALYSIS

The examiner confirmed at the 2009 conference that the nature of the paper will change from June 09 – any part of the syllabus can feature in the compulsory questions and strategic analysis will begin to feature more often as an option question.

Section A
Expect Question 1 to focus mainly on strategic implementation rather than strategic choice.

Expect to see:

* Strategy evaluation
* Business process change
* Strategy and people (possibly job design)

Section B
Section B will combine all elements of the syllabus (strategic analysis, choice and implementation).

Topics could include:

* Strategic position analysis
* Stakeholders
* E-marketing
* Quality
* Project management

omerpk

P4 – ADVANCED FINANCIAL MANAGEMENT

At the February 2009 ACCA Conference, Bob Ryan suggested that his papers are set ‘at random’ to prevent students from being able to question spot. Therefore these tips should be treated with care.

However, Bob has already shown that when he writes an article he likes to test that topic (MIRR in June 2008, Default risk in Dec 2008) so certainly students should read his recent Toxic Assets article with interest.

Other key topic areas which are likely to be tested are:

* Business valuation – calculation (especially free cash flow method) and discussion of Methods
* Adjusted Present Value
* Sources of finance discussion (including Business Angels)
* Hedging foreign exchange risk
* Share buyback v Dividends discussion
* Black Scholes model
* And don’t forget toxic assets!

P5 – ADVANCED PERFORMANCE MANAGEMENT

* Corporate failure
* Performance calculations FI’S & NFPI’S & objective of growth.
* ABM
* NPV
* Encouraging and rewarding performance
* Transfer pricing
* ROI, RI & EVA
* Learning curve & target costing

omerpk

P6 – ADVANCED TAXATION

Corporation tax

* Loan relationship rules
* Group relief – tax planning; consortium relief, company losses
* Capital allowances with AIA
* Expansion overseas: branch vs. subsidiary
* CFCs
* Double tax relief: WHT and ULT
* Research and development
* Takeovers: pre acquisition trading and capital losses
* Close companies

Capital gains tax

* Reliefs: incorporation relief, Entrepreneurs’ relief, gift relief
* Capital gains groups
* Share takeovers or reorganisations

Inheritance tax

* Estate computations
* Business property relief
* Planning

Income tax

* Overseas aspects for employees
* Sole trader/partnerships cessation, with planning, possibly losses
* Benefits: car, loan, accommodation, share schemes

VAT

* Land and buildings, including capital goods scheme
* VAT groups
* Partial exemption
* Overseas aspects

Scenarios

* Lease vs. buy assets: net cost
* Incorporation: all aspects (IT, NICs, CGT, VAT, stamp duty)
* Badges of trade: IT vs. CGT
* Employee vs. partner
* CGT vs. IHT for lifetime gifts

omerpk

P7 INT – ADVANCED AUDIT AND ASSURANCE

The examiner will set 5 questions, which will all have multiple elements, so it is likely that other topics than the ones noted below will be examined in the June 2009 exam.

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

* Engagement planning and risk
* Engagement procedures (i.e. evidence)
* Ethics and professional issues
* Engagement reporting (audit reports in particular)

Subject of recent articles:

* ISA 240 Fraud and Error
* Risk an environmental audit (by P1 examiner but relevant to P7)
* ISA 560 Subsequent Events
* ISA 540 Audit of Accounting Estimates

(The latter two were mentioned in an article by Lisa Weaver published in November 2008. However they remain unexamined and are likely to appear in this or the December 2009 sitting).

‘Peripheral areas’ from examiner’s approach article yet to be examined:

* Regulatory framework
* Obtaining work
* Corporate governance

P7 UK – ADVANCED AUDIT AND ASSURANCE

The examiner will set 5 questions, which will all have multiple elements, so it is likely that other topics than the ones noted below will be examined in the June 2009 exam.

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

* Engagement planning and risk
* Engagement procedures (i.e. evidence)
* Ethics and professional issues
* Engagement reporting (audit reports in particular)

Subject of recent articles:

* ISA 240 Fraud and Error
* Risk an environmental audit (by P1 examiner but relevant to P7)
* ISA 560 Subsequent Events
* ISA 540 Audit of Accounting Estimates

(The latter two were mentioned in an article by Lisa Weaver published in November 2008. However they remain unexamined and are likely to appear in this or the December 2009 sitting).

‘Peripheral areas’ from examiner’s approach article yet to be examined:

* Regulatory framework
* Obtaining work
* Corporate governance

omerpk

F4 ENG – CORPORATE AND BUSINESS LAW

* English legal system - delegated legislation/interpretation of statutes
* Contract law - exclusion clauses/consideration/terms of contract
* Tort of negligence - duty of care/elements of negligence
* Employment law – redundancy
* Company law - company formation
* Company law - types of companies
* Company law - maintenance of capital
* Company law - appointment/removal of directors
* Company law - types of meetings
* Fraudulent behaviour - money laundering