2016年3月ACCA考试考前tipsF5-P7全科-高顿教育ACCA培训机构官方网站

2016年3月ACCA考试考前tipsF5-P7全科

2016年02月19日
14:12
作者：高顿财经
来源：高顿财经
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摘要：ACCA在最近公布了kaplan版本的针对2016年3月考试的考前tips，参加本次考试的同学可以找出自己对应的科目。温馨提示：学习其他教材版本的考生同样可以参考...

ACCA在最近公布了kaplan版本的针对2016年3月考试的考前tips，参加本次考试的同学可以找出自己对应的科目。温馨提示：学习其他教材版本的考生同样可以参考这份tips哦。

　　Paper F5 tips

　　MCQ’s can come up from any syllabus area so cover the breadth of every topic.

　　Section A:

　　ABC, Life Cycle costing, Target Costing and Throughput Costing are very commonly tested topics while Environmental costing is rarely tested.

　　Section B:

　　Usually there are two questions from this area. Commonly tested topics are

　　– Relevant Costing

　　– Pricing

　　– Cost Volume Profit Analysis

　　– Limiting Factor

　　– Make or Buy or Shutdown Decisions and other Short term decisions

　　– Dealing with Risk and Uncertainty

　　Section C:

　　There are two questions from this area. Variances analysis is more commonly tested topics while Budgeting is also tested off and on. Every exam has some variances in it and could be basic or advanced variances.

　　Section D:

　　Performance evaluations is another area where questions always come up – very hard to learn a set method as each one is different. The important thing is to read the question carefully and make sure you link your analysis to the scenario. Commonly tested areas are

　　Transfer Pricing

　　Balance scorecard

　　The examiner does not like students who simply quote from the textbook, writing information that is not relevant to the question. The examiner also likes you to have an opinion – has the company done well or not? Clearly state your opinion and reasons why it is so.

　　Paper F6

　　暂缺~

　　Paper F7 tips

　　MCQ’s can come from any syllabus area.

　　Consolidation of Financial Statements

　　For the consolidation question (Q1) you will benefit from having the proforma/standard workings of your final answer set up first. For example if the question requires a consolidated SFP then drawing up the SFP with open brackets beside those numbers that do not need a standard working can get all the easy adding across 100% of the Parent and subsidiary figures. The other headings can have the standard working number written beside them instead. A couple of lines would need to be left for each section of the SFP in case other things come up in the additional information.

　　In addition to this setting up the standard workings can also be done. The subsidiaries’ share capital figures and the year end retained earnings can be put into these without reading any of the additional information. In addition to this the parents retained earnings figure can also be put into W5 (Retained earnings) without reading any additional narrative.

　　With all of the proformas and standard workings set up, it means that you are able to tackle the issues in the order that they are presented in the question. It also allows you to deal with both sides of any adjustments as everywhere is set up to make the adjustments. It hopefully prevents non-balancing accounts and means that each issue only has to be addressed once; thus helping with time management. Also if you run out of time, you will get full credit for all that you have already done provided everything is referenced through.

　　A similar process can be applied to the income statement equivalent of setting up final answer and workings to help tackle the issues that come up.

　　Single Company Financial Statements

　　Single company financial statements (question 2). As with the groups question, it may be possible to get the proforma of the final answer set up, particularly if the data in the question is set up with the draft financial statements rather than the trial balance. If possible it then means that open brackets can be used and the draft figures placed in them, ready for adjustments as they arise. Generally speaking there are often more adjustments required for cost of sales figure in the income statement and the PPE figure in the SFP. As such I would suggest these are likely to need separate workings rather than just a bracket beside the final answer.

　　If there is a topic/adjustment that you are unsure of, come back to it. You are better to get the adjustments that you are comfortable with done first. It is easy to get bogged down and waste time on a difficult adjustment at the expense of doing an easier one that appears later in the question.

　　Performance Appraisal

　　With a performance appraisal question you may be asked to calculate ratios or prepare a statement of cash flow or both. When calculating ratios, if you are unsure of a particular calculation always have a go, as even if the calculation is incorrect you will be awarded merit for your discussion of the incorrect number in the written section of the question. It also really helps the marker if you note your formula down so that your working is clearly identified.

　　When preparing a statement of cash flow setup you proforma immediately and begin to get the easy marks in the cash flow such as finding the movement in the cash and cash equivalent balance, and finding the movements on basic shares and loans. You will also find the operating activities section familiar and useful for scoring marks. If there are any cash items that you are unfamiliar with come back to these at the end after you have dealt with the items that you can do.

　　Finally, when appraising the performance of a company ensure that you always refer to the scenario provided to ensure maximum credit is awarded.

　　Paper F8 tips

　　Part A: MCQ’s will be from any syllabus area.

　　Part B: Some of the frequently tested areas in the past were

　　Ethics / Conflict of Interest / Confidentiality / Audit committees

　　VFM, Outsourcing

　　Audit risks and responses

　　Cash, inventory, purchases (including tests of control)

　　Purchases, revenue, Payroll

　　Written representations

　　Auditor’s reports

　　Limited assurance engagements

　　Expectation gap

　　Auditor rights and duties

　　Engagement letters

　　Fraud and error

　　Components of an internal control system

　　Inherent limitations of internal control

　　Risk assessment procedures

　　Financial statement assertions (Ratios)

　　You must learn the ISAs – not the numbers, but the objectives and key provisions of each ISA. Nearly 30% of the last exam was testing pure rote-learned knowledge.

　　The examiner wants QUALITY not QUANTITY – sometimes gives 1.5 marks for a well-explained point.

　　Look at the past exams – many of the model answers were in columnar format. Long windy paragraphs are not an option. Stay to the point and straightforward.

　　Time allocation is as important in this exam as it is in the others – 1.8 minutes per mark.

　　Paper F9 tips

　　Part A: MCQs will be from any syllabus area.

　　Part B: Some frequently tested areas in the past were

　　NPV with Inflation and Taxation

　　Cash operating cycle

　　Receivable, Payable & Inventory Management

　　Financial Gearing

　　Cost of Equity & Debt

　　WACC

　　CAPM & MM

　　Foreign Exchange Risk Management

　　Interest Rate Risk Management

　　Sources of Finance

　　Don’t just keep focusing on numbers. Although the numbers are important but approximately half of the marks are for the written elements. Prepare every topic thoroughly to increase chances of passing the exam.

　　Paper P2 tips

　　Do not ignore ethics it appears in every section A question and could have up 10 marks.

　　Always apply your 5 standard workings when doing CSFP. This will help ensure easy marks are picked up and it is easier for the marker to follow what you have done.

　　Do not ignore the current issue question. Often it contains numerical aspects of an accounting standard you are familiar with as well as the current issue. E.g. reviewing the use of FV and the new rules on financial assets in IFRS 9.

　　Practise as many questions as possible across the syllabus, and don’t only concentrate on consolidation. Practice writing out pro-formas so you can do this quickly and efficiently on exam day.

　　Use the reading time effectively – decide which question you are not going to attempt from Section B and then read the Section A question.

　　If you need help with Accounting Standards, read Clare Finch’s guide to IFRS.

　　If you struggle with Groups, read Tom Clendon’s guide to Group accounts

　　Consolidation is hugely important but you can’t pass the exam on this alone – a significant number of marks in the consolidation tests your understanding of other accounting standards.

　　Don’t overrun your time on part A of question 1. There are often easier marks available in pasts B & C.

　　If you can’t do something ignore it and move on – time is very tight and there is no point staring at a blank piece of paper if you really don’t know what to do.

　　In addition to consolidation the examiner is particularly keen on:

　　Revenue Recognition

　　Financial Instruments

　　Pensions

　　Deferred Tax

　　Reconstruction of insolvent company

　　Foreign Currency

　　Impairment

　　The examiner writes articles that are published on accaglobal.com – search for “Graham Holt”.

　　An understanding of the Accounting framework is vital in being able to discuss any issues surrounding an accounting standard or proposed change to that standard.

　　Unlike F7, there are very few marks, if any, for simple figures in the Consolidation exercise. Marks are concentrated on the adjustments and detailed computations of key group issues, like Goodwill, NCI etc. Make sure your workings are clear and fully explain any adjustments you make to comply with relevant IFRS.

　　Do not treat the Consolidation exercise as being all 50 marks of question 1. It will typically be 35 so allocate the correct time to it and the other elements in Q1.

　　In scenario style questions in section B, be sure to state the relevant accounting standard for any advice that you give, together with the relevant rules from the standard and then subsequently state the advice on correct treatment of facts in the scenario. Don’t be tempted to jump straight to a statement of the correct treatment as marks will not be maximised by doing this. Read articles and read around the subject.

　　Remember

　　Do not add up the accounts.

　　Start each question on a fresh page.

　　BE NEAT in the exam.

　　Time management (or lack of it!) is the most common reason for failure.

　　Paper P3 tips

　　Embed your knowledge on the core models from Johnson and Scholes (the examiner based this paper on their work).

　　When answering questions, write answers like you are writing to your senior management. Make it as professional as possible. Marks are allocated to this in section A.

　　Do not start writing answers straightaway. Take a minute to think about the structure and presentation of the answers.

　　It is important with this level to remember that writing lots of knowledge and theory will not get you through the exam. The key is application to the material and expanding the relevance to the scenario.

　　We suggest watching the news / reading the papers, but with a critical eye. For instance when you see that a business has launched a new product or moved into a new market think about the theories you have learnt that may be relevant. In this case it could be:

　　Porter’s generic strategies

　　Ansoff

　　Bowman’s clock

　　Then apply those theories to the real life situation – understand why they have created this product/why they have gone into this market. With practice you will find it easier to apply the theories to the scenario.

　　And of course you can do this for other areas of the syllabus.

　　There is nothing worse for a marker than getting a script which is just a page of writing. Try to think about making your script easier to read for the marker. Headings and Sub-headings along with a bit of space will help. Then use your paragraph to explain the point you are making.

　　If it is easy for the marker to see the points being made this can make the difference between pass and fail for a borderline script, include application, plus relevance within your statement, avoid listing.

　　If you use the word ‘and’ in your answer, are you making two separate points? If yes, maybe you need to split your paragraph into two headings / sub-headings.

　　There are 3 professional marks which will constitute professionalism, presentation and layout.

　　Know the theory and apply it.

　　Create mind maps of the key knowledge, then learn these.

　　Do practice questions under timed conditions and if possible, get them marked.

　　Make sure you’ve read all the current examiner articles, available on the ACCA website.

　　Get good business awareness – read a quality newspaper.

　　Use the reading time to select questions, and get frameworks for answer plans.

　　Do a section B question first.

　　Don’t focus on the numbers – do not spend more than 15 minutes on them per question.

　　Watch the clock – allocate your time efficiently – don’t overrun.

　　Layout your answers in a way that the marker can clearly read and understand.

　　Read the question carefully!

　　Paper P4 tips

　　P4 is a technical paper with some complex calculations sometimes but DO NOT think of the exam as numbers-only. There are plenty of discursive parts which are usually easier than the calculations and easy marks can be picked up by applying commercial awareness and common sense.

　　Analyse the individual requirements of the question. If you can do the wordy bits first then do so as you will not get bogged down in them like you will with the calculation elements.

　　Do not expect to finish a question. You must stick to time, especially on the calculations which are very easy to over-run on. The exam is extremely time pressured and the secret to passing is to have a go at every part of every question, not to try and get 100% on every question – to do that you would need about 7 hours!

　　If you are not sure what to do with a particular figure in a question, ignore it and move on – state assumptions, you haven’t got time to worry about it!

　　If you get a Black-Scholes question, always list out the input variables as your first stage and assign the relevant values to them – there will be about 2-3 marks usually for doing this.

　　Practice as many questions as possible but do as many as possible to time. You must get used to doing the questions in the time available and not spending too long on them.

　　Practice as many questions as possible across the syllabus, and don’t only concentrate on what you consider to be the core areas.

　　Choose carefully on section B of the paper – it is very limited choice but nonetheless it will be critical.

　　Do not put down unnecessary workings; because as it will cost you heavily in lost time.

　　If there is a calculation that you are unable to complete – for e.g. a WACC which prevents you from going on to do the NPV, then just make a reasonable assumption and estimate a WACC which you have been unable to calculate, this will then allow you to progress the calculation and get on to the often more generously rewarded discursive parts of the question.

　　Look out for examinable articles – two in particular for June 2011:

　　24 August – The new examiner Shishir Malde gives his approach for the P4 paper

　　23 September – Another article by the new examiner Shishir Malde on Risk Management January/February article

　　Two key topics are always NPV appraisal and capital structure, particularly CAPM and Betas. You will not pass if that is all you know but you will struggle to pass if you do not know them!

　　Paper P5 tips

　　Answer the wordy bits first, provided they don’t depend on calculations you’ve not yet done. This paper awards approx 70% of the marks for discussion, and 30% for calculations.

　　Watch your time management when doing the calculations. Although they are not technically complicated, they can be time consuming. Lots of practice before the exam means you should be reasonably efficient at these parts in the exam, although you may well take more time than the 1.8 minutes per mark you should theoretically allow. However, if you realise it is taking too long, make up some numbers, move on and use those figures as the basis of your discussion as you’ll get the follow through marks on that basis.

　　Paper P7 tips

　　Concentrate on the core areas – these are the ones that are regularly examined; your Kaplan tutor will help you to identify what they are. But your strategy should be study breadth not depth; it is much better to have a working knowledge of the whole syllabus rather than just 6 topics in lots of depth.

　　Pay attention to the verbs in the question to start with. ‘Explain’ requires you to state an answer with some facts as examples to support it. So, if the question was, ‘Explain the evidence you would seek when auditing provisions’, then an answer may be, ‘ External advice from a solicitor to prove existence and valuation.

本文由国内**的ACCA培训机构高顿财经整理

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