Becker ACCA Exam Tips December 2014

      Becker ACCA Exam Tips December 2014

       Paper F6
　　
　　• Taxation of benefits and of motor cars.
　　
　　• Combination of employment income & different types of property income, maybe rent-a- room or personal income tax computation.
　　
　　• Employment income – benefits with NICs.
　　
　　• Partnerships – opening and closing year issues.
　　
　　• Relief for a trading loss of self- employed persons.
　　
　　• A 12-month accounting period, with adjustments for profit.
　　
　　• Long period of account rules.
　　
　　• Capital gains in a group.
　　
　　• Principal private residence.
　　
　　• Entrepreneurs’ relief.


　　
　　• VAT treatment of overseas trading (EU and non-EU sales and purchases). •Class1andClass1ANIC– benefits and PAYE.
　　
　　• Unused nil rate bands from a predecessor spouse.
　　
　　Paper F7
　　
　　Common areas that feature on a regular basis in the exam are as follows:
　　
　　• Construction contracts.
　　
　　• Revenue recognition.
　　
　　• Substance vs form.
　　
　　• Convertible instruments (IAS 32/IFRS 9).
　　
　　• Accounting for taxation, as part of final accounts question.
　　
　　• Accounting for assets, particularly IAS 16.
　　
　　• Provisions and contingencies.
　　
　　Paper F9
　　
　　Section A
　　
　　• Read the examiner’s articles – Capital Asset Pricing Model. Take a look at recent Myopic management feature.
　　
　　• Read other key articles – Business Valuation (February 2012), advanced investment appraisal (October 2010), foreign exchange risk and its management (July 2010).
　　
　　Section B
　　
　　• IRR.
　　
　　• Debt factoring.
　　
　　• Dividend policy.
　　
　　• Bond valuation (including convertibles).
　　
　　Paper P1
　　
　　• Corporate governance (CG) concepts, underlying fundamentals and arrangements.
　　
　　• CG in other organisations (e.g. public sector, NGOs).
　　
　　• Types and forms of CG (e.g. rules based, principles based, insider, outsider systems, UK Corporate Governance Code, SoX).
　　
　　• Agency theory, stakeholders, Mendelow.
　　
　　• Board structures, CEO/chairman, directors, NEDs, committees.
　　
　　• Internal control and business risk, Turnbull.
　　
　　• Ethical theories and business codes – Kohlberg, Gray, Owen and Adams, Tucker, AAA.
　　
　　• Professions and the public interest.
　　
　　• Corporate social responsibility, corporate citizen, footprints and sustainability.
　　
　　• Integrated reporting, social and environmental auditing.
　　
　　Paper P2
　　
　　• Consolidations in Q1.
　　
　　• Disposals and complex groups (June 2010).
　　
　　• Disposals (December 2009).
　　
　　• Step acquisitions (December 2011).
　　
　　• Cash flow (Dec 2013).
　　
　　• Foreign sub (June 2010).
　　
　　• Complex group (Dec 2012 and June 2013).
　　
　　• Consolidated profit or loss was examined for the first time in over three years in the June 2014 paper. • Foreign subsidiaries have not been examined for a few exams.
　　
　　• Financial instruments (IAS 39/IFRS 9) to include hedge accounting, questions on this topic tend to appear in most exams
　　
　　• Employee benefits (IAS 19), this standard was amended by IASB in 2011 and is now examinable under the new standard.
　　
　　• Standards: Leases (IAS 17), share-based payments (IFRS 2), impairment of assets (IAS 36), deferred tax (IAS 12).
　　
　　Paper P3
　　
　　• Strategic choice.
　　
　　• Stakeholders.
　　
　　• Organisational structure.
　　
　　• Finance – possibly sources of finance or working capital management.
　　
　　• Business process change.
　　
　　Paper P5
　　
　　• Corporate failure.
　　
　　• Quality – possibly six sigma.
　　
　　• The Performance Prism.
　　
　　• Reward schemes.
　　
　　Source Becker/PQ Magazine