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  1. #1
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    Default JUNE 2011 TIPS by PQ

    June 2011 ACCA Exam Tips: F4 - P7
    ACCA exam tips form First Intuition
    ACCA Exam Tips – June 11
    F4
    Sources of law – delegated legislation
    Offer and Acceptance
    Contract terms – exclusion clauses
    The law of torts – auditor negligence
    Employment law – constructive dismissal
    Partnerships
    Corporations and separate legal personality
    Directors
    Capital Maintenance
    Fraudulent behaviour
    F5
    Mix and yield/quantity variances
    Target costing
    Throughput accounting
    Risk and uncertainty
    Optimum pricing
    Learning curves
    Divisional performance and transfer pricing
    F6
    Q1 – Income tax with BIKs
    Q2 – Corporation tax (VAT, IBA’s, CA’s)
    Q3 – CGT (Rollover relief, gift relief & PPR relief)
    Q4 – Partnerships with opening year rules
    Q5 - IHT
    F7
    Qn 1 Consolidation- Revenue statement with goodwill computation
    Qn 2 Single company accounts with, lease, non current asset, tax and sale or return
    Qn 3 Cash flow and report writing
    Qn 4 The framework with contingent liabilities and Financial instruments
    Qn 5 EPS
    F8
    Qn 1 : Qn on substantive audit procedures and tests of control on a key area of the Statement of Financial Position e.g. inventories or receivables
    Q2 : short 10-marker on ISAs e.g. audit reports, fraud & error
    Q3 : Qn on “identifying and explaining” the threats to auditor independence and ways of managing them
    Q4 : Mgt letter : identifying the weaknesses, consequences and recommendations in a particular company
    Q5 : subsequent events
    F9
    • Discussion of the economic environment and the impact on interest and exchange rates
    • Working Capital Management
    • Investment Appraisal & Cost of Capital
    • Business Valuations
    P1
    Kohlberg, Risk assessment and TARA risk framework.
    Role of audit committee, chairman, CEO.
    Corporate social responsibility
    Gray, Owen and Adams, normative, and Instrumentalists view of stakeholders.
    Risk quantification
    P2
    Qn 1 = Group question on foreign subsidiaries
    Ethics
    Revenue Recognition – current issue
    IFRS 9 Financial Instruments
    Deferred Tax
    Share based payments
    Related parties
    P3
    Section A
    • Environmental Analysis, People with Financial Analysis
    Section B
    • Project Management
    • Strategic Action
    • Information Technology – Pricing Strategy
    P4
    Q1 Post merger valuation and share for share exchange
    Q2 Hedging Interest rate risk.
    Q3 Impact on WACC following change in credit rating.
    Q4 Currency SWAP scenario
    Q5 Written question theoretical and practical aspects of managing risk
    P5
    Transfer pricing and divisional performance
    Quality and quality costs
    Performance measures linked to corporate strategy
    Risk attitudes
    Mission and objectives
    Financial and non-financial performance assessment
    P6
    Salary or BIKS package
    Badges of trade
    Cessation of trade (IT, VAT, IHT)
    Partnerships
    UK property profit
    Close investment companies
    Overseas company trading in UK
    Non trading loan relationships
    Corporate long period of account
    Consortium relief
    De-grouping charge
    Internal reconstruction of corporate group
    Double tax relief for groups of companies
    CGT losses in year of death
    PPR and gift relief
    CGT shares and takeovers
    Substantial shareholding exemption
    VAT de-registration
    VAT capital goods scheme
    Flat rate scheme
    IHT related property
    Business property relief
    EIS/VCT schemes
    P7
    Business Risks and Financial Statement risks in a scenario
    Identifying ethical and other professional issues in a scenario
    Audit reports
    Group audits
    Money laundering
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

  2. #2
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    NOTE:-There is no fool proof method for predicting the exact contents of the examination.
    Only the Examiner himself knows what will be in the paper, and he repeatedly
    warns against ‘question spotting’. The tips that follow suggest key topics which we
    consider to be likely subjects for examination at this sitting
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

  3. #3
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    Best of luck to everyone
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

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