speak101

TIPS FROM KAPLAN FINANCIAL
F4
• English legal system: tribunals, Supreme Court.
• Contract law: termination of offer.
• Tort.
• Employment law: remedies.
• Company law: articles of association, issue of shares at a discount/premium.
• Fraudulent behaviour: insider dealing.

F5
• Breakeven analysis.
• Transfer pricing.
• Mix and yield variances.
• Payoff tables.
F6
• Income tax: additional rate taxpayer and/or PA restriction.
• Corporation tax: capital allowances.
• VAT: overseas issues.
• Capital gains tax: disposals by individual.
•Inheritance tax.
F7 INT
• Q1: Consolidated income statement including an associate and possibly a mid-year acquisition.
• Q2: Redraft of the financial statements including drafting SOCIE.
• Q3: Possible mixed cash flow/interpretation question.
• Q4 & 5: Finance lease, impairment, IASB framework, government grants.
F8 INT
• Assurance engagements.
• Ethics including confidentiality/ conflicts of interest.
• Small/not for profit organisations.
• Systems: sales, payroll.
• Completion and auditor’s reports.
F9
• Investment appraisal – complex NPV or IRR with tax and possibly inflation.
• Working capital management – cash operating cycle.
• Valuations – cash flow based values.
• Business finance – Islamic financing could be tested soon.
• Risk management – foreign exchange risk.
P1
• Risk appetite and ALARP.
• Ethics – moral development.
• CSR.
• Audit committees.
P2
Section A
• Group statement of financial position: mistreatment and/or misclassification of items to be included within the statement.
• IAS 16, IAS 17, IAS 36, IAS 38, IAS 37, IAS 12, IAS 39 & IFRS 9.
Section B
• IAS GAAP/US GAAP convergence.
• Non-current assets held for sale and discontinued activities.
• Impairments provisions.
• Tax employee benefits.
• Share-based payment.
• Leases.
• Intangibles.
• Financial instruments.
P3
• Process redesign.
• Financial and strategic analysis.
• Strategy evaluation.
• Project management – possibly focusing on the new area of benefits management.
• Marketing.
P4
• Acquisitions and business valuation – free cash flow method.
• Net present value.
• WACC.
• Options, futures and FRAs.
P5
• Divisional performance appraisal.
• Non-financial performance indicators.
• Public sector appraisal and league tables.
• Probabilities and expected values.
P6
• Corporation tax groups with consortium relief.
• Sole trader commencement.
• Lease vs buy assets.
• Overseas aspects of CGT.
• EIS/VCT.
P7
• Engagement planning and risk assessment.
• Ethics and professional issues.
• Preconditions for an audit.
• Discontinued operations.
• Auditing financial instruments (new IFRS 9).

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

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WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

speak101

Best of luck to everyone

__________________
WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF