TARC ACCA 2005

ACCA exam guide for December 2007 (BPP & FTC)

2007-11-22T00:47:00.000+08:00

NOTE: These exam guide should only be used in conjunction with proper studying. We cannot guarantee that these tips will appear in the actual exam as we have not seen the exam papers. The tips are based on Kaplan’s experience and understanding of the ACCA exams.

F5 – Performance Management

ABC
Variance analysis, including mix and yield and interpretation
Learning curves
Performance measurement, including NFIs, the balanced scorecard and Fitzgerald et al
Decision making

F7 – Financial Reporting
CBS or, slightly more likely, CPLA
Published Accounts with mixed standards
Interpretations or CFS, with latter more likely, maybe with bits of Interpretation
Standards with concepts, such as Leasing, DT, Construction contracts, Impairment, Depreciation with Revaluation, etc
Standards with concepts (other standards, standard setting, human assets, conceptual framework, etc)

ACCA PAPER F7 (GLOBAL) TIPS DEC 2007
The whole exam is compulsory

• Q1 (25 marks): Consolidated income statement (P&L) and/or balance sheet with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit. Discursive part (b) on fair values or other group topic.

• Q2 (25 marks): Accounts preparation/restatement with adjustments e.g. current/deferred tax, depreciation, inventory (stock) valuation, leases, construction contracts, substance over form issues, financial instruments (amortised cost), revaluations, share issues or government grants. May include disclosure of discontinued operations, movement in reserves/ statement of recognised income & expense (gains & losses) or EPS calculation.

• Q3 (25 marks): Interpretation and/or cash flow statement

• Q4 (15 marks): Theoretical/Conceptual question – possibly on provisions, inflation, accounting policies, leases or substance over form issues with reference to the conceptual framework

• Q5 (10 marks): Mixed bag question (e.g. tangible/intangible assets, impairment, deferred tax, governments grants, financial instruments, substance over form issues or EPS)

F8 – Audit and Assurance

Ethics – objectivity, conflicts of interest
Planning – identifying and explaining/addressing risks in a scenario
Internal controls – weaknesses and recommendations
Audit evidence – substantive tests, sales and debtors
Completion – overall review
Internal audit – role, reliance by external auditors

ACCA Paper F8
Audit & Assurance
December 2007 Exam Tips

All of the questions in this exam are compulsory and the examiner aims to test the syllabus widely at each sitting so it is very dangerous to rely on question spotting as you revise for this paper. The following outline aims to indicate the type of questions that may come up in the exam. Only the examiner knows what has been put into the paper, so these suggestions have been based on the content of the pilot paper, comments made and articles written by the examiner and the content of the old syllabus paper 2.6. The paper F8 examiner, Alan Lewin, set the old syllabus paper 2.6 from June 2005 to June 2007.

Question 1 (30 marks)
This will take the form of a case study with four or five separate requirements. The main requirements are likely to focus on audit procedures on a core area of the financial statements, such as revenue and receivables, purchases and payables or inventory.

Other parts of the question may look at internal controls in the same areas of the accounting system, or the auditor’s use of computer-assisted techniques.

Question 2 (10 marks)

This will be a 10 mark factual question and likely to cover at least three separate topic areas. The requirements are likely to test basic knowledge of ISAs. The examiner’s aim in this question is to broaden his coverage of the syllabus, so these could be drawn from any area.

Questions 3, 4 and 5 (20 marks each)
The examiner has said that these will be very similar in style to the questions he used to set in the old syllabus paper 2.6. This means that they will tend to have three or four separate requirements, and be based on short scenarios and syllabus areas as listed below. (Relevant questions from the 2007 P & R kit are listed separately after each topic.)

• Audit ethics
• Audit risk
• Corporate governance and its links with either internal or external audit
• Internal controls, possibly with requirements in the style of a “report to management”
• Audit completion and areas such as going concern, management representations, events after the balance sheet date and audit reporting

Relevant Articles
The following articles can be found in the Student Accountant magazine (or ACCA website)
• Audit working papers, Namasiku Liandu, February 2007
• Examiner’s approach to paper F8, Alan Lewin, February 2007
• Audit risk in a brave new world, Namasiku Liandu, 30 September 2004
• Internal audit and review reports, Katherine Bagshaw, January 2003
• The role of internal audit in risk management, Katherine Bagshaw, April 2002
• Directional testing – a methodology, Kim Smith, May 2001

F9 – Financial Management

Investment appraisal – especially NPV with tax and inflation. Additionally make sure you know the advantages and disadvantages of each appraisal method.
Working capital management – especially cash operating cycle and associated calculations.
Finance – especially financial and operating gearing and financial and business risk.

ACCA Paper F9
Financial Management
December 2007 Exam Tips and Useful Articles

This exam consists entirely of compulsory questions; this makes question spotting particularly dangerous. The purpose of this analysis is to highlight areas the major syllabus areas that we would expect to be regularly tested based on the pilot paper and the sittings of the old syllabus 2.4 paper which was also examined by your examiner Anthony Head (since 2003).

Use the following tips as important areas to cover but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Financial management function:

Key ratios such as return on capital employed, return on equity, earnings per share and dividend per share and total shareholder return can be used to evaluate an organisation’s performance from the point of view of its shareholders. Don’t forget value for money as a useful framework for assessing the performance of not for profit organisations.

Working capital management:

Ratios, including inventory days, average collection period and average payment period & average payable period can be used to calculate the operating ratio. This is often tested with numbers and a discussion of how to improve working capital management. This discussion could include debt factors and invoice discounting.

The sales revenue/ net working capital ratio has been specifically mentioned and can be used to forecast finance needs.

Investment appraisal:

NPV with tax is commonly tested with a discussion either of alternative methods of appraisal (e.g. ROCE, IRR or payback) or an analysis of risk or uncertainty.

Business finance:

You may be asked to assess the impact of sources of finance using ratios such as operational and financial gearing and interest coverage.

Cost of capital:

Questions are likely to focus on the calculation of the weighted average cost of capital and a discussion of strategies to reduce the weighted average cost of capital in the style of the pilot paper question on this area.

Business valuations:

This was not tested in the pilot paper but is a major syllabus area. Questions are likely to focus on the use of the share valuation models (asset, dividend, earnings) and a discussion of their limitations.

Risk management:

A risk management question is likely to focus on currency hedging using forwards and money market hedging. Other topics that are likely to be tested here include interest rate parity theory and the purpose of currency futures and options (without numbers).

Useful Articles:

If you want to read around the subject or improve your understanding there are a number of articles on the ACCA website. Scott Goddard (the examiner) has not written anything recently although the following articles are still relevant to the syllabus.

P1 – Professional Accountant

Director Remuneration Packages
Roles / Problems with NEDs
Unitary v 2-Tier Boards
Criticism of a company's current Governance
How/whether companies should deal with stakeholders
Board - Performance Evaluation
Role of internal Audit + Audit Committees
Different Ethics Models in business
Identification + Management of risks in a company

ACCA Paper P1
Professional Accountant
December 2007 Exam Tips and Useful Articles

Tipping is not a precise science at the best of time, and for the first sitting of a brand new paper it is little more than a ‘shot in the dark’. It would be inappropriate to guess what is likely to appear in the first exam, so the following tips suggest important areas to cover. However please remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

The following is a guide to areas that you should include as part of your revision:

Section A:

Application of corporate governance principles:
A deep understanding of the purpose and aims of good corporate governance, together with an appreciation of the relevance of different approaches (rules or principles) that could be utilised is key. Questions are likely to require the application of corporate governance to address organisational control deficiencies described in the scenario is quite likely.

Identification and assessment of all aspects of business risk:
The use of a methodical approach to identify, categorise and assess the array of risks facing an organisation will be a common feature of scenario questions. From this position the examiner can than then ask candidates to propose and recommend remedies.

Internal control mechanisms and their review:
Internal management control systems are a key feature of any successful organisation. Indeed corporate governance mechanism could in themselves be viewed as of the internal control framework. The questions are likely to either identify deficiencies in internal controls or ask students to suggest enhanced controls to manage risks identified.

Corporate social responsibility and environmental management:
The need to act appropriately in terms of social and environmental responsibilities is key feature of the modern business world, and could be an element of a scenario question. This being the ethical stance that an organisation takes allows for many theories and frameworks to be incorporated into answers.

Section B:

Although likely to be based on small scenarios, Section B questions are likely to test specific areas of the syllabus in more detail.

Corporate Governance:
This could require detailed discussion of aspects of the Combined Code or Sarbanes Oxley, or even a comparison between the two. Specific areas relating to the role of non-executive directors, remuneration and disclosure requirements could also be tested, which requires the recollection of detailed syllabus knowledge to secure a good mark.

Risk assessment and management:
Describing the frameworks used in assessing and controlling risk any organisation either in a holistic view in specific detail (e.g. risk profiling) could be on the paper. However there will be no computation of the value of risk required.

Internal control (inc. internal audit):
Approaches to enterprise risk management together with embedded /cultural risk awareness would appear to be prime topic worthy of revision.

Professional values and ethics:
An array ethical theories and frameworks could be specified and tested in detail. Emphasis is likely to be on the role of the professional accountant and the possible conflicts and threats to independence that can arise and need to be resolved.

Useful Articles:

If you want to read around the subject or improve your understanding there are a number of articles on the ACCA website.

‘Big Brother’ by George Bakehouse studies ethics and how advances in information technology have changed the way businesses work

Effective report writing by Mustafa Muchhala explains the key points of effective report writing

‘Examiner's approach to Paper P1, Professional Accountant’ by David Campbell, examiner for Paper P1offers his approach to the Professional Accountant paper

P2 – Corporate Reporting

Group accounts - foreign currency or cash flow
Accounting standards set in a case study environment including - impairment, financial instruments, pension, retirement benefits
Discussion - conceptual framework

P3 – Business Analysis

A fundamental appreciation of the key activities associated with strategic analysis, choice and implementation will always be required in interpreting the scenario.
The relevance of ethics and corporate governance to strategic decision making
Issues related to globalization and international business management
Be able to comment in general on how things like HR and IT can help underpin a strategic plan
Also review the pilot paper and make sure you know what CMMI is

P4 – Advanced Financial Management

Business Valuation through acquisitions
Foreign exchange hedging
Investment Appraisal and risk
Cost of capital and sources of finance
Advantages and disadvantages of listing and corporate objectives

P5 – Advanced Performance Management

Corporate failure.
Performance improvement strategies.
Value based management approaches.
Environmental management accounting.
The changing role of the management account in today's business environment

P7 – Advanced Audit and Assurance

Audit Risk Assessment and Management
Matters and evidence
Professional conduct and ethics
Reporting
Assurance Services - CDD

Changes to acca syllabus

2007-07-02T21:00:00.000+08:00

ACCA converter

the above are the website for the conversation of current acca syllabus to the new one.. if anyone of you need any assistant on it.

You can also go to ACCA website to see their transitional papers. It is called the horizon conversion tool kit. Key in all the papers you have cleared and it will generate a list of paper you can attempt this december 2007.

http://www.accaglobal.com/horizon

Basically you can take core papers separately, dont have to take all three together, subject to conditions set by ACCA. Please let me know if you need to get a copy of the core paper rule change.

ACCA Exam Tips June 07 Part 3(b) collected from help of Coolly

2007-05-12T00:29:00.000+08:00

ACCA 3.5 Exam Tips

FTC

Key Areas:
A fundamental appreciation of the key activities associated with strategic analysis, choice and implementation will always be required in interpreting the scenario.
The relevance of ethics and corporate governance to strategic decision making
Issues related to globalization and international business management
Marketing and how it may be influenced by ethics and globalisation
Be able to comment in general on how things like HR and IT can help underpin a strategic plan

BPP

Section A

Always difficult to predict the subject matter of the case scenario. Therefore this time it might be something simple in structure and based on the Manufacturing environment.

Areas that could be included within the requirements could include

* A discussion of the relative merits of different ways of making strategy
* Stakeholder analysis and objective setting
* Application of strategic analysis models
* Evaluation of strategic objectives, using the numbers included
* Marketing issues
* Change management

Section B

Marketing, including new product development. In part suggested by the recent article, and still has not been examined. – Refer to Dec 2003 Q1d as a good review.

Information Technology. This is feasible this time because it is an important subject and will be very present within the new ACCA syllabus.

Globalisation strategy. The strategic development of global businesses was very popular when the paper was first introduced. It remains relevant and could be due another appearance.

Change management. A favourite topic of the examiner and due to be reappear in either section A or B.

Ethics and corporate social responsibility. With all of the talk (and recent cases) of corporate scandal ethical behaviour is a very topical area of the syllabus

China Website

• Strategic analysis – likely to be analysis of competition using porter’s 5 forces analysis
• Strategic choice and evaluation – competitive strategy, market product strategy and method of development
• Marketing and globalisation
• Sustainable strategic position & competitive advantages
• Quality issues & TQM
• Application of IT (internet)
• Corporate social responsibility & Ethical issues

Article
Strategy challenge: the internet (Student Accountant March 2007)

By Niu Niu (Prepared By Mr Philip Woo.....)

June 2007 suggestions

1. Models of strategic management

• Kenichi Ohmae – Strategic triangle (three c’s)
• Michael Porter – Competitive advantage and generic strategies
• Strategic development – Deliberate, emergent and incremental
strategies ( Mintzberg, Linblom and Quinn)
• Henry Mintzberg – 5 P’s (Plan, ploy, pattern, position, perspective)
• Strategic Intelligence – Donald Marchand

2. External environmental scanning

• Analysis of customers and markets – Market segmentation
targeting and positioning
- Market research
(Desk and field research Retail audit and test marketing)
• Benchmarking – Internal, Competitive, Process/Activity, Customer and Generic
• Industry Analysis - Michael Porter’s 5 competitive forces

3. Internal Assessment
• Product Market Portfolio (BCG)
• Product Life Cycle (PLC)
• McKinsey 7s

4. The nature of strategic analysis and choice
• Corporate Appraisal – SWOT, PESTEL, 6M, Value Chain
• Ansoff’s - Product market matrix
• Stakeholder expectations – Mendelow matrix
• Strategic direction – Mission statement, objectives and strategic
Intent (Hamel and Prahalad)

5. The nature of strategy implementation

• Marketing strategies – strategies of market leader, follower, nicher
and challenger
- promotion mix (advertising, sales promotion,
public relations, personal selling)
- marketing mix (4P’s/6P’s)
• Service marketing – Intangibility, inseparability, variability, ownership
• IT and strategic advantage – Strategic importance of IT (McFarlan
and McKenny strategic grid)
- Michael Earl awareness, opportunity and position framework
- Michael Earl system audit grid
• Management and control of quality – TQM and Quality Circles
• Management of change – strategies for managing change
(Johnson and Scholes, Lewin, Gemini 4R’s, Huczynski and Buchanan
Pettigrew and Whipp), System intervention Strategy
• Goold and Campbell – Strategic management styles (strategic planning
strategic control and financial control)

6. Matching structure with strategy
• Matrix structures, SBU, transitional/adaptive structures (virtual organization
• Burns and Stalker – organic and mechanistic structures
• Henry Mintzberg – organizational configurations

7. The nature of global competition

• Global strategies – product positioning
- development of global brands
- Standardization vs Customization

• Managing global company – Ethnocentric, Polycentric, Geocentric
- Kenichi Ohmae 5C’s

• Development of global business
- market convergence, cost advantages, government pressures, currency, trade barriers and global competition

• Entry to foreign market – Jacoby’s six stages

8. Outcomes of the strategic management process

• Corporate decline / Strategic failure – causes, failing to adapt and
strategic drift (Miller)
• Learning Organisation – Peter Senge and David Galvin

9. Ethical considerations

• Corporate ethics and managerial ethics – Carroll’s moral, immoral and amoral management (ethical norms, motives, goals, legal orientations and strategy)
• Corporate governance – features of poor corporate governance
- code of best practices and combined code
• Social responsibility

ACCA 3.6 Exam Tips

FTC

Section A
This compulsory question will be on the preparation of consolidated accounts and the twist that is due is that it will have a foreign subsidiary.

Section B
Mixed scenario based questions involving some of the following standards
Impairment
Share based payments
Deferred tax
Financial instruments.
Reirement benfits
Discussion question on accounting theory in repect of recognition and measurement issues

BPP

Section A

* Compulsory question on group accounting topics such as complex group structures, consolidation of a foreign subsidiary or group disposals

Section B

* 'Mixed' questions where a range of standards are covered such as related parties, pensions, recognition and impairment of tangible and intangible assets, leases, revenue recognition, changes in accounting policies, effects on EPS or deferred tax.
* 'Events' questions such as shutdown of an operation, switch to IFRS, natural or deliberate disaster, bringing in areas such as: impairments, provisions, events after the balance sheet date, non-current assets held for sale, discontinued operations, pension scheme curtailment effects, government grants etc
* 'Specialist industry' questions, where a range of standards are also tested, but in the context of a specific industry (NB: no specific knowledge of the industry required)
* Questions on topical areas, such as the continuing attempts to bring about international harmonisation and the effect on a company's accounts of applying IFRS, financial instruments or share-based payment, or standards inconsistent with the framework (eg leases)
* A discussion question looking at current developments in corporate reporting such as success/issues on implementation of IFRS, approach to segment reporting, mineral resources, comprehensive income, social and environmental reporting or business ethics

By Niu Niu (Prepared by Navzar FTMS)

1)Group-Overseas,indirect subsi and reverse acquisition
2)Operating lease esp those related to genuine sales and leaseback in OL form
3)EPS? Im not sure coz he said didnt examined quite some time. From what i see from his dec 06 tips, he also spotted this. But unfortunately, this EPS didnt came out...
4)International harmonisation and FRS 1/IFRS 1, possible reconciliation Qs
5)As in examiner's article, FRS 119 on pension accounts, familiarize yourself with treatment on actuarial losses/gain and its theories as frs 119 provide 3 choices! So, argue its benefits and drawbacks.
6)Again, examiner's article FRS 2 and other other articles on FRS 6....

ACCA 3.7 Exam Tips

FTC

Section A:

1) Overseas NPV: This topic was last examined in December 2003 and therefore will be on everybody’s tip list. The specific items that you need to be familiar with are: the application of double tax agreements, remittances from subsidiaries, use of purchasing power parity theory and the overall structure of an Overseas NPV. Excellent questions are Axmine(Pilot94) andAVTO(Dec03). He has also written as lightly different style of question Wickern(Dec01) where he gives you all the PV calculations in the question and asks you to analysis the numbers. This is worth reviewing. Basic awareness of political and economic risk is essential.

2) Risk management:
Currency Risk: Scott wrote a wonderful question called Lammer(Q2Jun06) which you should review in detail as it includes his main tricks on all the major techniques to hedge transaction risk. It is also worth reviewing Vertid(Jun95) in which Scott takes a more theoretical approach to currency risk.

Interest rate risk: This topic appeared as a case study in the last exam. However,be aware you’re your examiner has already written a case study that combined Currency Risk and Interest rate risk (Autocrat-December2002).Play it sate and review this topic. Excellent questions are HYK Communications Dec (99) and Interest Rate Hedge (Jun 05).

3) Hunting down the discount rate:WACC – Risk adjusted WACC –APV calculations within the context of a standard investment appraisal question.However risk adjusted WACC could also be examined within the context of traditiona lgearing. WACC-Jetter© (Jun02) and Semer(a)(Dec05). Risk Adjusted WACC–Romage Jun(00). Traditional Gearing-Bentras(Dec01). APV–Strayer(Jun 02).

4) Merger and Acquisitions: A FCF calculation possibly within the context of Going Private. Also review the share for share exchange style questions Raywood( Dec 92).

Section B:
1) Economic Value Added – EVA This is a topically area and you should review Toutplut (Jun 02) and Remuneration (Dec 04).

2)Portfolio Theory and CAPM Hasder(Jun03) is an excellent question as it covers both Portfolio Theory and CAPM calculations and the topic of international diversification. The Portfolio Theory section is technically demanding as you are given the covariance as opposed to the normal correlation coefficient. It is also interesting to note that in Scott’s answer he calculated the coefficient of variation for the first time. This will now be a standard requirement in all portfolio theory questions.

3) Term Structure of Interest rate - review Bond Prices (Jun 03) and BNG (Dec 00)

4) International economics– I.M.F-(Dec96), Current account deficit(Pilot01), Foreign
trade risks (Jun01) and Political risk (Dec01).

BPP

The December 2006 exam awarded very few marks for cost of capital, NPV, and currency hedging which are major areas of the syllabus that are regularly examined. It is reasonable to expect these areas to feature more strongly in June, but the examiner deliberately tries not to be too predictable and just because a question featured last time, doesn’t mean it won’t feature this time.

The following is a guide to areas that you should include as part of your revision:

Section A:

Global financial management: NPV – of an overseas project, leading into a discussion of financing issues. Adjusted Present Value is a possible angle that could be taken by the examiner; don’t neglect this area just because it was tested in the December 2006 exam.

Investment decisions: If not tested in an overseas context as above, NPV can be tested in a domestic context. Cost of capital is generally the main focus of domestic NPV questions and can easily lead into a discussion of gearing strategy.

Risk analysis: Currency hedging is a core topic that can be expected to arise somewhere on the paper especially because this did not feature significantly in the December 2006 exam. A likely area for the examiner to focus is currency futures and options.

Section B:

Risk analysis: Black-Scholes is due to be tested; it is a regularly examined area that has not been tested in the last 2 exam sittings. Strategy formulation: Economic Value Added is a regularly examined area that has not been tested since December 2004.

Investment decisions: Portfolio theory is a regularly examined area, it has also come up as a compulsory question so make sure you don’t neglect it.

Other: Question 6 is always discursive. Recently it has featured questions on the Global Economic Environment. Corporate Governance or financing overseas investments are areas that are likely to be tested.

From Niu Niu

Spotted topic for 3.7 June 2007 final sitting
1)Overseas investment
2)Forex
3)Demerger
4)Black & Scholes/Option pricing
5)Portfolio Theory

ACCA Exam Tips June 07 Part 3(a) collected from help of Coolly

2007-05-12T00:27:00.000+08:00

ACCA 3.1 Exam Tips

FTC

Q1 Risk appraisal, risk management and audit strategy
Q2 Assurance services - reporting on narrative statements egg environmental reports
Q3 Matters and evidence when reviewing files before signing audit reports
Q4 Audit reporting - application of ISA 700
Q5 Professional conduct and ethics
Q6 Current issues

BPP

Questions 1 and 2

Scenario questions in the context of audit risk/business risk/financial statement risk. One of these is likely to have a non statutory audit theme.

May also include:

* Control suggestion and/or evaluation
* Audit evidence on Paper 2.5 accounting areas (see also Q3 suggestions)
* Group audit issues (including audit work on fair values)
* Planning/practice management/quality control issues
* Assurance services, e.g. performance measurement or prospective financial information

Question 3

Audit evidence. Comment on the matters you would consider and the audit evidence you would expect to find as audit manager conducting a review of audit files.

Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:

* Events after the balance sheet date
* Provisions
* Impairments
* Earnings per share
* Segment information
* Related party disclosures
* Deferred tax
* Discontinued operations
* Standard costing
* Intangible assets
* Revenue recognition
* Borrowing costs

Section B

Question 4

Part (a): Any syllabus area. Part (b): A related question on reporting.

Question 5

Ethics, professional and quality control issues scenario question.

Question 6

Discussion question on current issues, e.g:

* Fraud and auditor liability
* International convergence
* Audit exemption for small companies
* Risk-based auditing
* Related parties
* Corporate governance
* Laws and regulations

The discussion question often covers a scenario on a topic where the examiner has written an article in your Student Accountant magazine in the months prior to the exam. You should check the magazine/ACCA website for new articles in the months leading up to your exam.

ACCA 3.3 Exam Tips

FTC

* Contribution based decision-making – possibly involving expected values, maximax, maximin & minimax regret.
* Practical aspects of pricing policy
* Performance evaluation - NFPIs
* The strategic framework – specifically a question based around the examiner’s article on “Business Strategy and Performance Models” (Student Accountant – April 2006). This is likely to focus on Porter’s 5 Forces

BPP

There were some be new areas in the syllabus from June 2006 which the examiner has already included in the latest paper;

Ansoff's growth vector matrix
BCG matrix
Porter's five forces model

Section A

To date the large question in this section has contained some elements of budgeting (short term planning) and recently it has also examined return on investment. This will be heavily numerical with a small written element.

The shorter question has often tackled some element of performance measurement with the majority of the marks being for numerical analysis.

Section B

There is usually a high discursive element in this section with 2 questions being wholly or heavily discursive. If it has not made an appearance in Section A performance measurement will make an appearance here it may even appear if it has already been seen in Section A.

Many of the modern management and management accounting techniques have been examined here;

Numerical topics do still appear in this area, topics that such as transfer pricing (which can also include qualitative issues) can be complexand confusing on first read, as can questions relating to and uncertainty in decision-making.

ACCA 3.4 Exam Tips

FTC

• Value of information systems
• Groupware
• Data warehousing and data mining
• Outsourcing
• SWOT
• Earls three legs
• Earls Grid
• Information strategy
• Virtual company
• Business and IT strategies

BPP

Section A
This is the last sitting so expect no great surprises here – again expect the scenario will be a business with significant system issues linked to a business plan or some strategic view. The following are some outstanding topic areas that are either so core to the syllabus or were not covered in recent exams.

The requirement areas could include

There will always be an I.T link to the business strategy maybe with a specific reference to Earl’s 3 legs.

A SWOT analysis on the scenario.

Impact of I.T on the organisation once implemented – i:e: the organisational and social impact.

E- commerce with reference to the internet in a specific system / business opportunity.

The academic framework could be McFarlan’s / Peppards grid suggesting development priorities.

Section B

Soft Systems methodology. Unusually this popular topic has been absent for a little time so this may be its final bow. Probably with the emphasis on the root definition and conceptual model elements.

Change management. This could be a section A topic as well . Maybe a question based on the 3C's and /or another model such as Davis and Olsen.

Parsons IS Strategies and Nolan’s Stage Hypothesis. Still tipping these two. A possible section B academic discussion could appear on either or both of these models.

Knowledge management and databases. A topic again that has been absent for a little time, that could appear in a mini scenario requiring a suitable technical explanation.

Porter's value chain. An outside bet, but maybe the examiner will finish with this model, just as he started the exams with it.

China Website

• TPS, MIS, DSS, EIS and Expert system
• Knowledge management & data management#
• SWOT analysis and its application
• IS, IT and IM strategies
• Earl’s 3-Leg analysis, Reasons for IS Strategy, Systems Audit Grids#
• Parson’s 6 generic IS strategies#
• Nolan’s 6-stage growth model#
• Ws framework
• McFarlan Strategic Grid# and Peppard application portfolio
• Project risk
• Gap Analysis and 3Cs
• SSM – SSM stages, Root Definition (CATWOE) and Rich Picture
• Application package solution & bespoke solution (strategic issues)
• Outsourcing#
• Systems changeover
• Impact of IS

# - spare topics

ACCA Exam Tips June 07 Part 2 collected from help of Coolly

2007-05-12T00:22:00.000+08:00

ACCA 2.1 Exam Tips

FTC

Managing Information Systems
* Accounting for IS/IT costs
* Staff roles and responsibilities
* Flat project based structure
* Project management and control
* Centralisation/decentralization

Designing Information Systems
* Methodologies
* Modelling
* Invitation to tender
* Quality software characteristics
* Decision table
* Testing

Evaluating Information Systems
* Changeover techniques
* Documentation
* Training
* Maintenance
* Post implementation issues

BPP

The key issue about the exam format is that each section will have just one question on each major section of the syllabus.
The three key areas are: -
1. Managing information systems,
2. Designing information systems,
3. Evaluating information systems.

Overall there will therefore be 2 questions on each key area; one compulsory (section A) and one chosen (section B).

The section A questions are often in two parts, with the marks split evenly across the two parts:
- Part 1 - State the theory
- Part 2 - Apply the theory to the scenario

It therefore follows that unless students learn the scenario approach of extracting information from the scenario and applying this to their answers they will have difficulty in gaining a pass mark from section A.

Managing information systems
Business Strategy and IS/IT alignment
Delivering information systems – accounting issues
Project planning – Gantt charts
Organising IS – End user computing

Designing information systems
The information systems development process – Waterfall and Spiral models
Modelling user requirements – data flow diagrams
Developing solutions – Bespoke systems
Evaluating information systems
Implementing security – physical security
Implementation issues – training
Computer Misuse Act
Time/Cost/Quality Triangle

China Website

Managing Information Systems
• Data capturing technologies – Barcoding, OCR, OMR
• Business Strategy and IS Strategy
• Centralised and decentralised IS departmentS, Flat structureS
• Legacy System#
• Accounting issues – cost centre and profit centre
• Feasibility study – purpose*, issues on TOSE
• Project management – project sponsor and project manager, critical path analysis, Gantt chart, Terms of Reference, project planning stages

Designing Information Systems
• Methodology, Waterfall model, spiral model
• Functional and Non-functional requirements
• Models – process model, Structure model (ERD) and event modelS (ELH) (construction and notation)
• Tasks of external design*
• Supplier selection* – measures and metrics
• Bespoke solution and package solution
• ITT

Evaluating Information Systems
• Systems changeover
• Systems Maintenance and change control proceduresS
• Quality issues – QM, QA and QC
• Security issuesS
• Testing – unit testing, systems testing, user acceptance testingS, performance, usability testing (explanation & measures and metrics)
• Functional correctness and reliability (metrics)
• Decision table

# - in the pilot paper but has not appeared as real examination question.
* - in the syllabus but has not appeared as real examination question.
S - Spare topic

ACCA 2.4 Exam Tips

FTC

• Investment Appraisal; to include NPV, IRR, tax, relevant costs, risk & sensitivity and lease or buy
• Sources of Finance; to include gearing, ratios, rights issues and other methods of issue and the problems of SME’s
• Working Capital Management; to include cash and/or stock
• Budgeting; to include budgetary systems and cash budgets
• Variance calculations
• Organisational objectives

BPP

Section A
Section A is a compulsory 50-mark question based on a case scenario of about 1½ - 2 pages. It tends to contain questions on investment appraisal and sources of finance.

* Investment appraisal
* Sources of finance
* Working capital (probably stock management but possibly debtor management)

Section B

In section B of the exam there will be two questions on Financial Management – if investment appraisal does not appear in section A then it will definitely appear in section B, the examiner has never set a 2.4 exam which does not have an investment appraisal question. The other two questions will be on areas from the Management Accounting section of the syllabus.

* Modern costing techniques
* Variance analysis
* Responsibility and investment centers
* Sensitivity analysis, risk and uncertainty

ACCA 2.5 Exam Tips

FTC

Group balance sheet with an associate undertaking and fair value adjustments.
Cash Flow
Key accounting standards include: impairment, leases, segmental reporting.
Accounting theory based on the information needs of users.

BPP

Section A

* Consolidated income statement (P&L) and/or balance sheet with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit. Discursive part (b) on fair values or other group topic.

Section B

* Accounts preparation/restatement with adjustments e.g. current/deferred tax, depreciation, interest, substance over form issue, financial/capital instruments (amortised cost), revaluations, share issues, inventory (stock) valuation, government grants, deferred tax. May include disclosure of discontinued operations, movement in reserves/ statement of recognised income & expense (gains & losses) or EPS calculation.
* Theoretical/Conceptual question – possibly on provisions, inflation, tangible/intangible assets, impairment, accounting policies, leases or substance over form issues, with reference to the conceptual framework
* Interpretation and/or cash flow statement
* Mixed bag question (e.g. deferred tax, segment reporting, events after the balance sheet date, construction/long-term contracts, government grants, financial/capital instruments, substance over form issues or EPS)

Joe Fang's tips for Paper 2.5 (By roy_pck)

Q1- consol balance sheet
Q4- ratios or combined cash flow & ratio analysis
FRS 138, 116, 112, 117, 137, 132, 136

ACCA 2.6 Exam Tips

FTC

ETHICS - Objectivity Threats, Conflict of Interest (see below)
PLANNING - Practical Audit Risk Scenarios
CONTROLS - Suggesting control objectives and procedures
SUBSTANTIVE TESTS - Inventory, Receivables
REVIEW/COMPLETION - Going Concern audit work
REPORTS - Practical Scenarios
INTERNAL AUDIT / CORPORATE GOVERNANCE - Business Risk, Comparison of External v Internal Audit, Audit Committees

BPP

* Internal audit/ Internal review – Following the current examiner’s article on how the internal audit department can assist in corporate governance and risk management, this area has been frequently tested. (In all papers, December 2006, June 2006, December 2005 and June 2005). Note that in addition to a specific question on internal audit or reviews conducted by internal or external staff, questions could be in the form of a report to management on control weaknesses with recommendations, very similar in substance to that produced by an external auditor

* Substantive testing – This will be in the exam, but what will be tested? The December 2006 question covered external confirmations and audit of bank balances (Q3). In June 2006 Non current (Fixed) assets were tested. December 2005 covered inventories (stock). In June 2005 sales and tangible assets were tested. In December 2004 substantive testing of payroll balances was tested (Q4). In June 2004 inventories (stock) (Q3) and payables (creditors) and accruals (Q4) came up. In December 2003 payroll audit was tested (Q2). In June 2003, Inventories (stock) (Q2) and provisions were tested (Q3). In the December 2002 exam, payables (creditors) (Q3) and inventories (stock) were tested (Q5). In June 2002 cash was tested (Q2) and in December 2001 receivables (debtors) were tested (Q4). That would appear to leave receivables (debtors) and possibly another appearance of inventories or provisions as likely candidates for examination this time round.

*Systems and controls – Again this topic will be included in the exam in some format. In December 2006 the question dealt with weaknesses in a purchases system. In June 2006, the question covered the objectives of internal controls. In June 2005 Q3 was centred around a complex computer system. The examiner has warned that computers will be expected to feature in scenarios. In December 2004 Q3 risks from a scenario had to be spotted, and controls recommended. In June 2004, they came up in the context of outsourced catering and payroll (Q5). In December 2003 controls over payroll were tested in Q2 and Q1 included controls over business risks in the areas of human resources, procurement and marketing. In June 2003, controls over non-current (fixed) assets were tested (Q6). In the December 2002 exam the sales system was tested (Q2). In June 2002 the cash system was tested (Q2) and in December 2001 Purchases/ capital expenditure were tested (Q3). Any of these could come up again: the payroll and sales/receivables systems looking the most likely.

* Planning and risk assessment (from a scenario) – risk in one form or another comes up at most sittings. It is one of the key stages of the audit, but can also be examined in the context of a company's business risk as it was in June 2004. In December 2006 Q1 focused on the purpose of risk assessment procedures and issues to be considered when providing services to a given client. In December 2005, an audit planning memorandum, or audit strategy, was required. In June 2005 Q1 was a straightforward question looking for risks from a simple scenario. In December 2004, Q2 was centred around planning and the information you require, and Q1 was about spotting the risks of fraud and error.

* Professional ethics – This is a core area examined in June 2006 (confidentiality) after a period away from the exam in the previous 4 sittings. It is still a topical issue with all of the recent corporate collapses bringing the independence and professionalism of their advisors into question. Confidentiality came up again in December 2003 (Q6), conflicts of interest in June 2003 (Q3) and objectivity in December 2002 (Q1). Independence issues are still important and could to be examined again at this sitting.

* Audit/Assurance Reports – This is a very important area of the syllabus, it is deliverable from the end of all assurance engagements. You also need to be aware of the differences between internal audit reports/ external audit reports and other assurance reports such as review reports. It was tested in June 2005 as an unpopular optional question asking for errors in a given audit report. It has been tested in December 2003 (Q3 b and c), June 2003 (Q3c and Q5), June 2002 (Q3b) and December 2001 (Q5), but not in the last few sittings.

* Parts of questions – The following topics could form discrete parts of questions at this sitting: fraud, management representations, audit regulation, subsequent events and e-technology (see article below) so make sure you are up to speed on these areas.

ACCA Exam Tips June 07 Part 1 collected from help of Coolly

2007-05-12T00:18:00.000+08:00

ACCA 1.1 Exam Tips

FTC

(i) Company accounts
(ii) Consolidated balance sheet
(iii) Interpretation of accounts
(iv) Cash flow statements
(v) Accounting Standards and theory
(vi) Incomplete records
(vii) Partnership accounts

BPP

Section A - 25 compulsory MCQs (50 marks)
Each question is allocated 3.6 minutes
The examiner sets MCQs that intentionally have wide syllabus coverage but often have a similar style. Therefore lots of question practice is the best way to approach this part of the exam.

Common areas examined are year end adjustments, including calculation of accruals and prepayments, amendment of errors, bad and doubtful debts, inventory valuation and non-current assets (including depreciation). The examiner usually sets questions on reconciliations – both bank and control accounts – often by getting students to correct an existing reconciliation that has been performed by a trainee accountant. Expect to see a question on the accounting equation either in section A or B.

It would be worthwhile reviewing past MCQs on partnerships to become familiar with the examiner’s style for these questions.

A significant number of the questions will be written rather than computational. Topics examined in this way include accounting policies & estimates, regulatory framework and application of standards. However students with a good basic understanding should be able to eliminate incorrect answers and should not struggle too much with these.

Certain key areas will be examined via a number of MCQs if they are not examined in section B. Therefore students should be well prepared on the following areas: interpretation of financial statements, cash flow statements, group accounts. Based on past exams it seems to be more likely that cash flow statements will be examined this way in June.

Section B - 5 compulsory questions (8-12 marks each to a total of 50 marks)

Expect there to be a mix of computational and discursive (written) questions, normally with two written questions per paper.

Common topics for computational questions

* Consolidated Balance Sheet. - This has not been tested since Dec 05. It is always good for students to be well prepared for such a question as they have a strong chance of gaining high marks. This has been examined in December every year for the past 5 years and therefore has a good chance of coming up again this year.
* Preparation of a Balance Sheet or Income Statement - however this could be for a sole trader, partnership or limited company so students must ensure they are familiar with all the proforma formats.

* Incomplete records – Balance Sheet or Income Statement. The examiner has not tested since Dec 05 but always possible to come up as it incorporates lots of the key elements of bookkeeping such as error correction, T-accounts and journals.

* Suspense accounts - error correction and profit adjustments have been tested in the last four out of six sittings.

Topics for written questions

* Interpretation of Accounts - likely to be a discussion question with computational elements. Be prepared for a fairly open requirement: eg “calculate some profitability ratios” “Assess the company’s liquidity using ratios” which means you need to know which ratios fall under these headings and also their formulae. A large proportion of the marks will be for commenting on the ratios so students should practice questions from the P&R kit so they have a wide range of comments on ratios at their disposal.

* Accounting issues – maybe with some computations/disclosure notes – often related to accounting standards. Typical topics could be events after the balance sheet date, provisions and contingencies, intangibles. Alternatively could ask students to explain company specific items such as share capital and reserves.

* Accounting concepts and principles - a favourite of the examiner. In June 06 going concern was tested. Be aware this area may include a questions on the advantages and disadvantages of historic cost accounting – there are some good questions in the P&R kit to help practice this area.

REMEMBER TIME MANAGEMENT IS VERY IMPORTANT, 1.8 MINUTES PER MARK

ACCA 1.2 Exam Tips

FTC

The paper will consist of 25 MCQs of 2 marks each and 5 long questions of 8-12 marks each. The MCQs will vary in difficulty, but the variety will ensure that the paper reflects the syllabus. The five long questions will be a mix of (mostly) calculations and (a few) written marks. The vast majority of the marks in this paper will be for calculations.

The nine key areas of the syllabus will make up the bulk of the exam paper:
* Cost classification and behaviour.
* Material, Labour and Overhead costs.
* Absorption and Marginal Costing.
* Process Costing.
* Standard Costing (includes variances).
* CVP analysis (includes break-even).
* Pricing Methods.
* Relevant Costing
* Limiting Factors and Linear Programming

BPP

Section A – 25 MCQs (50 marks – 50%)

Expect Section A to have broad syllabus coverage. It is best to set yourself ‘multiple choice question (MCQ) tests’, to time, which include a selection of questions from different areas of the syllabus.

Section B – Five compulsory questions (Worth between 8-12 marks each – 50%)

Section B questions will be primarily computational; however, increasingly the tasks are broken down into 2-3 parts, with a written element for between 2-3 marks. Some areas we feel likely to come up are:

* Absorption Costing - Complete part of the absorption costing process (allocation / apportionment etc) or construct a P&L under either AC or MC (or both) and possibly reconcile the difference in profits. Be able to explain the different stages of absorption costing.
* Break-even - Calculate break-even or sketch a break-even chart.
* Variance Analysis - Construct an operating statement to reconcile budget profit to actual profit having calculated sales and cost variances, possibly with a slant towards overhead variances. Provide explanations for what may have caused the variances.
* Relevant Costs and Decision Making – Calculate the relevant cost of a scarce resource by applying the opportunity cost concept.
* Limiting Factor Analysis – Use linear programming to draw a graphical representation of a problem that has more than one limiting factor and interpret the result. Conclude on a contribution maximising or cost minimising solution.
* Pricing Policy - Discuss pricing policy including some calculations

REMEMBER, TIME MANAGEMENT IS VERY IMPORTANT, 1.8 MINUTES PER MARK!!

ACCA 1.3 Exam Tips

FTC

Primary Tips:
Structure – forms of Organisational Structure
Culture – Handy and comparative theories
Motivation – Herzberg and comparative theories
Role of Management
Effective Communication Practices
Management of Diversity/Equal Opportunities

Secondary Tips:
Management and Leadership
Management by Objectives
The Learning Process – Mumford and Kolb
Recruitment and Selection

BPP

In Section A there is a compulsory Scenario Question worth 40 marks, which is usually broken down into between 4-8 discrete parts. It is difficult to predict whether the examiner will remain in a mainstream core area of the syllabus or examine somewhere less obvious. However he has written an article in Student Accountant prior to most exam sittings, and often based Question 1 upon it, so it is important to keep a look out for articles right up until the exam.

In Section B there is a requirement to undertake 4 from 5 questions, each worth 15 marks. It is difficult to make tips of which areas he might examine, however, it would be worth reviewing the following topic areas:

1. Recruitment and Selection – a question in every exam to date
1. Training and development – as performance appraisal was examined in Dec. 2006
1. Effective Communication Practices – a favourite area
1. A number of topics have not been examined for a while: teams, culture, H&S

Each question is broken down into 2 -3 parts. Be careful to only answer what the examiner has asked for.

Tips?ACCA December 2006 Exam Tips?

2006-11-24T21:24:00.000+08:00

WARNING: Tips are no substitute for revision!

thanks to ching.. i know the tips are flying here and there around the net... just that whether i have any time to get everything she already compiled and re-post it here...

sorry for those who visit here to look for tips.. hope this is not too late.. but just praying hard for you guys... and hoping that luck is on your side and please do not just reply on tips itself :)

Paper 1.3 Managing People

Primary Tips:

* Counseling
* Individual, Groups and Team behaviour
* Motivational Theories
* Objective setting; performance indicators
* Effective Communication
* Management of Diversity/Equal Opportunities

Secondary Tips:

* Leadership Theories
* Recruitment and Selection
* Management by Objectives
* The Learning Process Mumford and Kolb

ACCA Paper 1.3-BPP
Managing People
December 2006 Exam Tips

In Section A there is a compulsory Scenario Question worth 40 marks, which is usually broken down into between 4-8 discrete parts. It is difficult to predict whether the examiner will remain in a mainstream core area of the syllabus or examine somewhere less obvious. However he has written an article in Student Accountant prior to most exam sittings, and often based Question 1 upon it, so it is important to keep a look out for articles right up until the exam.

In Section B there is a requirement to undertake 4 from 5 questions, each worth 15 marks. It is difficult to make tips of which areas he might examine, however, it would be worth reviewing the following topic areas:

Recruitment and Selection – a question in every exam to date

Culture – absent for three sittings

Health and Safety – long overdue, only ever examined once

Effective Communication Practices – a favourite area

Each question is broken down into 2 -3 parts. Be careful to only answer what the examiner has asked for.

Health Warning! Please note the examiner, Dr John Ball, deliberately tries to avoid question spotting. Just because a question featured last time, does not mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do this in the exam.

Paper 2.1 IS
Managing Information Systems

* Business strategy and IS/IT strategy
* IS cost allocation methods
* Feasibility study
* Legacy systems
* Accounting for IS/IT costs
* Staff roles and responsibilities
* Project management and control
* Centralisation/decentralisation

Designing Information Systems

* Methodologies
* Analysis,CASE
* Modelling
* External design: data capture
* Invitation to tender
* Prototyping and 4GL

Evaluating Information Systems

* Security/legislation
* Implementation
* Post-implementation review
* Quality
* Documentation
* Maintenance

Source: Lecturer Parminder Singh (KSA)

1. HCI (specially on GUI n Screen), IS personnel, flat structures
2. Data capture
2. IS/IT/IM strategy
4. Cross-charging, seperate company, centralization/decentralization of IS function
5. SLDC (training, testing, maintenance, fact finding/documentation, TOSE, software packages, change control procedure, data conversion/creation)
6. V model
7. Prototyping, CASE, Spiral model
8. Project management (project plan, network diagram, grantt chart, risk management process)
9. SAD (ERM, decision tables/trees, DFD)
10. Quality (project quality plan)
11. Security (features, malicious software, disaster planning)
12. Legislation (DPA, CMA)

Paper 2.1 Exam Tips
Exam Tips and Relevant Articles
The key issue about the exam format is that each section will have just one question on each major section of the syllabus.
The three key areas are: -

1. Managing information systems,
2. Designing information systems,
3. Evaluating information systems.

Overall there will therefore be 2 questions on each key area; one compulsory (section A) and one chosen (section B).
The section A questions are often in two parts, with the marks split evenly across the two parts: -

Part 1 - State the theory
Part 2 - Apply the theory to the scenario

It therefore follows that unless students learn the scenario approach of extracting information from the scenario and applying this to their answers they will have difficulty in gaining a pass mark from section A.

Managing information systems

There will be a maximum of 40 marks on offer applicable to this area.

Business Strategy and IS/IT alignment (Q1 and Q70)
Delivering information systems – accounting issues (Q9 and Q91)
Project planning – Gantt charts (Mock Exam 1 Q4 and Q81 )
Organising IS – End user computing

Designing information systems

There will be a maximum of 40 marks on offer applicable to this area.

External design – User friendly systems and Prototyping (Q40 and Q83)
The information systems development process – Waterfall and Spiral models (Q24, Q25 and Q26 )
Modelling user requirements – data flow diagrams (Q85)
Developing solutions – Bespoke systems (Q83)

Evaluating information systems

There will be a maximum of 40 marks on offer applicable to this area.

Quality assurance in the management and development process – V model (Q47 and Q87)
Relationship of development processes and quality (Q94 and Q80)
Implementing security – physical security (Q53)
Implementation issues – training (Q!07)

Paper 2.2 Corporate & Business Law
Source: Lecturer Viknes 1v37 (KSA)

Advices:

*Never mention the section if ur unsure as mistake to the section numbers implies serious matter n the whole answer will be voidable at the option of the marker to implies NIL mark for the whole said section or some 'sympathy marks' for u. However, as the fact given, putting down the section number indicating student of well-readness n extra bonus marks might be given to ur overall performance, hereby, again at the option of the marker.

*leading decisions of case law must not be omitted in ur answer. Elaborate all your answer by giving defination (quoted from the act/case law/own defination is acceptable), stating any illustration from the act (if any), n followed by relevant case laws (preferably m'sian case).

Contract law
1. Offer vs ITT & acceptance vs counter offer (D01 Q8)
2. Consideration (executory, executed, past)
3. Frustration S57(1)(2)
4. For problem-solving (mixture of coercian, Specific performance, certainty, exclusion clause)

Company law
1. Turquand (ESSAY)
1. Shares (read all plus preference share/redeemable)
2. Receiver (liability)
4. Directorship (dun spot, read all especially duties, S132C/S132E/S133)
5. Meeting
5. SLP lifting veil by parliment
6. Promoter (only Glucstein's case on recovery profit)
6. Auditor (removal)

Agency
1. Duties of Agent to principal

Partnership
1. termination
2. liability

Malaysian Legal System
1. Subsidiary legislation
2. How law is made
3. common law

Employment law
1. constructive dismissal

Paper 2.3 Malaysia Taxation
1. company tax marks targeted: 20/30
- memorize all d expenses whether allowable, not allowable or double deduction n their explanations
- d explanation must b specific. try to avoid explanations like 'wholely and exclusively incurred in d production of income' or 'incurred in d normal course of biz'
- capital allowance is expected to b examined

2. personal tax marks targeted: 15/25
- S13(1)(a) and (b) r expected to b examined in details. must b able to distinguish which benefit falls under which section
- small value asset, repairs vs maintenance, royalty income, child relief (new changes)

3. sales n service tax marks targeted: 8/15
- bad debts
- mostly theories
- sales tax (credit sys)
- service tax (imposition of service tax, failure of non-compliance, evasion of service tax)

4. RPGT marks targeted: 10/15
- memorize d RPGT computation n isi tempat kosong laugh.gif
- NGNL especially transfer of asset from individual to co controlled by him/her [para 3(b)]
- private residence exemption (new changes)

5-7. others: marks targeted: 3/15
1. CA [HOT!!!]
2. resident status
3. individual tax planning
4. SAS for co
5. case law R or E
*FYI s108 not targeted

ACCA 2.4 Financial Management and Control

 Investment Appraisal; NPV to include relevant costs, tax and inflation, and possibly capital rationing and/or sensitivity analsysis, determinants of the discount rate
 Raising Finance
 Ratio analysis
 Replacement policy
 Working capital management, possibly to include stock
 Costing systems (ABC ?)
 Budgeting and Budgetary control
 Divisional Performance appraisal and strategic performance measures
 Long term finance and gearing

FTMS CKT Tips

CaseStudy : Investment Appraisal (NPV)

section b
-Sources of Finance : Ratio -Debt Valuation (calculate & discuss)
-Financial Risk & Investor Ratio
-Standard Costing : Mix & Yield Var**

ACCA Paper 2.4 – Financial Management & Control

Section A: One compulsory question worth 50 marks

Question 1
investment appraisal & about 10 marks management accounting.
Section B: Two out of 4 questions each worth 25 marks

Question 2 to 5

2 of section B questions will be in the area of financial management and the other 2 questions on management accounting. Of these, one question will be purely theory. In the last exam paper, the pure theory question was on aspect of financial management. This time may be financial management as well.

Possible topics:

1. Last Paper Lack Investment Appraisal. Focus on - Investment App :: Appraisal Techniques , evaluation decision with relevant cost, inflation, tax adjustment(might incorparate probability and expected value) , capital rationing & replacement policy.

2. Working capital management. Focus on debtors ( assessing credit worthiness and cash discount), Cash Mgmt ( miller-orr model & operating cycle) also likely.

3. Sources of finance. Focus on debentures( convertible debenture) valuation. Theory on methods of issuing share. Every Exam there is Question on Investment Ratios.

4. Flexible budget,Incremental Budget, ZBB and rolling Budget.Forecasting techniques : Regression Analysis.

5. Performance Measurement

6.There is a question on variances in each exam. So look out! *Mix & Yield Var*

ACCA Paper 2.4-BPP
Financial Management and Control
December 2006 Exam Tips

Anthony Head is the examiner for FMC. He has set exams, which are fair and focused on the core areas of the syllabus.

The references after each topic are to questions in the 2006 Practice and revision kit:

Section A
Section A is a compulsory 50-mark question based on a case scenario of about 1½ - 2 pages. It tends to contain questions on investment appraisal and sources of finance.

· Investment appraisal – Q86 Water supply services, Q95 Springbank, Q98 Sassone
· Sources of finance – Q65 Newsam, Q66 Sources, Q69 Collingham, Q72 Raising finance, Q74 Tirwen
· Performance measures – Q95 Springbank, Q38 Investment Group

Remember that the more complete case scenarios you attempt the better prepared you will be. The Case scenarios in our practice and revision kit are questions 88 to 98.

Section B

In section B of the exam there will be two questions on Financial Management – if investment appraisal does not appear in section A then it will definitely appear in section B, the examiner has never set a 2.4 exam which does not have an investment appraisal question. The other two questions will be on areas from the Management Accounting section of the syllabus.

· Working capital (probably stock management but possibly debtor management) – Q59 JIT and EOQ, Q56 PCB, Q55 Special gift suppliers, Q61 Velm
· Modern costing techniques – Q7 Throughput accounting, Q10 Abkaber
· Variance analysis – Q19 Hairdressers, Q22 Woodeezer, Q23 Carat, Q24 Linsil
· Capital rationing - Q83 Filtrex, Q84 PI, Q85 Basril
· Sensitivity analysis, risk and uncertainty – Q80, Q81 Forex risk, Q82 Umunat

ACCA Paper 2.5

Paper 2.5 does not change. You must work through the last 6 exams. The style and content of the questions remains very much the same.

Q.1 is consolidation and you can expect another balance sheet but be prepared for an income statement. You must be able to include an associate (or a joint venture) in the consolidated accounts using the equity method.

Q.2 is the “list of balances” question – practise on the last 6 exam questions – they cover the same ground. There are two approaches. Either go for workings to start with and then prepare the financial
statements asked for, or prepare pro-forma financial statements first and fill in the numbers as you work through each note in the question. This is a good question to choose in Section B. It is not difficult, but it is time consuming.

Q.3 is the single-standard question together with accounting principles – focus on impairment,provisions, eps, leases, contracts, discontinued operations. Consider the principle of substance over form and the principles of revenue recognition.

Q.4 usually includes a cash flow statement – work through the last 6 question 4s from past papers.You should get some financial analysis in December. Remember your ratios and the key points for comment.

Q.5 is the “multi-standard” question – of course you need to know all examinable standards.

ACCA Paper 2.5 (Global)
Part 2 - Financial Reporting
December 2006 Exam Tips

Section A

Question 1

Section A will comprise one compulsory question that will examine group accounting. Group accounting is a core area and this question could ask you to produce a consolidated balance sheet and/or income statement (profit & loss account) with one subsidiary and possibly an associate or joint venture.

It usually includes adjustments for items such as: fair values, unrealised profit on inventories (stock) or tangible assets, cancellation of intragroup trading, goods/cash in transit, pre-acquisition dividends.

Part (b) of the question usually includes a related discussion element.

Section B

Section B will comprise four questions out of which candidates should select three questions. The examiner, Steve Scott has stated that the style of the paper will remain fairly static:

Question 2

Question 2 will be preparation/restatement of an income statement (profit & loss account) and/or balance sheet. This question normally requires adjustments for current tax, depreciation, interest and dividends. Other adjustments may relate to debt factoring or other substance over form issues, leases, financial/capital instruments, revaluations, share issues, inventory (stock) valuation, government grants or deferred tax. There may be further disclosure requirements such as discontinued operations, movement in reserves or an earnings per share calculation.

Question 3

Question 3 will be a written question examining theoretical/conceptual areas or accounting standards. This could be on construction contracts, leases, provisions, inflation, intangible assets, accounting policies or substance over form issues with reference to the Framework for the Preparation and Presentation of Financial Statements (Statement of Principles).

Question 4

Question 4 is likely to examine interpretation and/or cash flow statements. There could also be a discursive part on why, for example, related party or discontinued operations disclosures are useful.

Question 5

Question 5 has no specified format or content and will cover other areas of the syllabus. The examiner frequently includes a 'mixed bag' question, which examines three or four different accounting standards.

Possibilities this sitting include: deferred tax, segment reporting, events after the balance sheet date, governments grants, financial/capital instruments, discontinued operations or substance over form issues.

ACCA 2.6 Exam Tips

 New Client Appointment / Conflicts of Interest
 Practical Audit Risk
 Engagement Letters
 Materiality
 Management Letter - purchases / computer controls
 Sampling
 Substantive Testing of Receivables / Payables
 Audit Report scenarios
 Role of Audit Committees
 Responsibilities for fraud

McOrange Sheila's 2.6 Tips [NEWLY ARRIVED!!!]

1. Ethics
- conflict of interest
- what to do when fraud/ defaults & unlawful acts are discovered
- new client appointment/ considering whether to continue wif client

2. Identifying business risk & how to manage the risks identified/ internal review

3. Internal controls & tests of controls (payrolls function or purchasing function)

4. Role of EA & IA in risk management

5. Internal audit

6. Identifying audit risk - scenario

7. External review - theory - ISRE 2400

8. Substantive procedures
- audit of trade receivables and ISA 505 direct confirmation (incl. use of CAATs)
- audit of bank/ overdraft/ loans (incl. use of CAATs)
- audit of accounting estimates (provision for bad debts, prov for damages)

9. sampling

10. materiality, summary of audit differences

11. analytical review

12. audit automation, CAATs

13. audit report - theory or scenarios

14. going concern (symtoms, audit procedures & audit reports)

15. misc audit stds:
- ISA 260, 510, 720, 230, 700

16. Corp governance- role of audit committee

Paper 2.6i Exam Tips
ACCA Paper 2.6
Audit & Internal Review
December 2006 Exam Tips

The following list is an idea of the type of questions that may come up in the coming exam. The list highlights areas of the syllabus and how they may well be tested.

Suggested practice questions from the BPP Practice and Revision Kit (2006 edition) are shown after the relevant area. It is also worth reviewing the past exam questions mentioned to give you an idea of how a topic has been examined recently. These are easily available on the ACCA website (www.accaglobal.com/students).

Internal audit/ Internal review – Following the new examiner’s article on how the internal audit department can assist in corporate governance and risk management, this area has been frequently tested. (In all papers, June 2006, December 2005 and June 2005). Note that in addition to a specific question on internal audit or reviews conducted by internal or external staff, questions could be in the form of a report to management on control weaknesses with recommendations, very similar in substance to that produced by an external auditor (see Systems and Controls below) (P&R kit practice: Q6 Internal Auditors, Q8 Roxy Hotels)

Substantive testing – This will be in the exam, but what will be tested? In June 2006 Fixed (Non current) assets were tested. December 2005 covered inventories (stock). In June 2005 sales and tangible assets were tested. In December 2004 substantive testing of payroll balances was tested (Q4). In June 2004 inventories (stock) (Q3) and payables (creditors) and accruals (Q4) came up. In December 2003 payroll audit was tested (Q2). In June 2003, Inventories (stock) (Q2) and provisions were tested (Q3). In the December 2002 exam, payables (creditors) (Q3) and inventories (stock) were tested (Q5). In June 2002 cash was tested (Q2) and in December 2001 receivables (debtors) were tested (Q4). That would appear to leave bank/cash and receivables (debtors) and possibly another appearance of inventories as likely candidates for examination this time round. (P&R kit practice: Q42 Springfield Nurseries, Q49 Goodfoot & Q51 Villawood Computers)

Systems and controls – Again this topic will be included in the exam in some format. In June 2006, the question covered the objectives of internal controls. In June 2005 Q3 was centred around a complex computer system. The examiner has warned that computers will be expected to feature in scenarios. In December 2004 Q3 risks from a scenario had to be spotted, and controls recommended. In June 2004, they came up in the context of outsourced catering and payroll (Q5). In December 2003 controls over payroll were tested in Q2 and Q1 included controls over business risks in the areas of human resources, procurement and marketing. In June 2003, controls over non-current (fixed) assets were tested (Q6). In the December 2002 exam the sales system was tested (Q2). In June 2002 the cash system was tested (Q2) and in December 2001 Purchases/ capital expenditure were tested (Q3). Any of these could come up again: the purchases/payables and sales/receivables systems looking the most likely. (P&R kit practice: Q36 Cosmo & Q34 Internal Control)

Planning and risk assessment (from a scenario) – risk in one form or another comes up at most sittings. It is one of the key stages of the audit, but can also be examined in the context of a company's business risk as it was in June 2004. In December 2005, an audit planning memorandum, or audit strategy, was required. In June 2005 Q1 was a straightforward question looking for risks from a simple scenario. In December 2004, Q2 was centred around planning and the information you require, and Q1 was about spotting the risks of fraud and error. (P&R kit practice: Q20 EWheels & Q25 Nepco)

Professional ethics – This is a core area examined in June 2006 (confidentiality) after a period away from the exam frm the previous 4 sittings. It is still a topical issue with all of the recent corporate collapses bringing the independence and professionalism of their advisors into question. Confidentiality came up again in December 2003 (Q6), conflicts of interest in June 2003 (Q3) and objectivity in December 2002 (Q1). Independence issues are still important and likely to be examined again at this sitting. (P&R kit practice: Q10 Billington Travel & Q11 Manly).

Audit/ Assurance Reports – This is a very important area of the syllabus, it is deliverable from the end of all assurance engagements. You also need to be aware of the differences between internal audit reports/ external audit reports and other assurance reports such as review reports. It was tested in June 2005 as an unpopular optional question asking for errors in a given audit report. It has been tested in December 2003 (Q3 b and c), June 2003 (Q3c and Q5), June 2002 (Q3b) and December 2001 (Q5), but not in the last few sittings. (P&R kit practice: Q62 Audit Reports, Q65 Cremorne)

Parts of questions – The following topics could form discrete parts of questions at this sitting: fraud, management representations, audit regulation, materiality, e-technology (see article below) so make sure you are up to speed on these areas.

ACCA 3.1 Exam Tips

 Risk Appraisal, Risk Management and Audit Strategy
 Assurance Services - PFI and Performance Measurement
 Matters and Evidence - usual GAAP favourites - Intangibles, Provisions, Impairment etc.
 Audit Reports - ISAs 570 & 720
 Ethics/Professional Conduct/Practice Management
 Current Issues - 'Yesterday's News'

ACCA Paper 3.1 (Global)
Audit and Assurance Services
December 2006 Exam Tips

Suggested practice questions from the BPP Practice and Revision Kit (2006 edition) are shown after the relevant area. We recommend you tackle all of them to get broad syllabus coverage.

Section A

Questions 1 and 2

Scenario questions in the context of audit risk/business risk/financial statement risk.

May also include:

Control suggestion and/or evaluation
Audit evidence on Paper 2.5 accounting areas (see also Q3 suggestions)
Group audit issues (including audit work on fair values)
Planning/practice management/quality control issues
Assurance services, e.g. performance measurement or prospective financial information
2006 P&R Kit Questions: 10 Azure, 17 Signet, 22 Alakazam, 26 Hydasports, 47 Ferry, 55 Imperiol, Mock Exam 1 Q2 (Plaza)

Question 3

Audit evidence. Comment on the matters you would consider and the audit evidence you would expect to find as audit manager conducting a review of audit files.

Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:

Events after the balance sheet date
Provisions
Impairments
Earnings per share
Segment information
Related party disclosures
Deferred tax
Discontinued operations
Standard costing
Intangible assets
Revenue recognition
Borrowing costs
2006 P&R Kit Questions: 33 Phoenix, 34 Aspersion, 35 Visean, 40 Verdi, 42 Data

Section B

Question 4

Part (a): Any syllabus area. Part (b): A related question on reporting.

2006 P&R Kit Questions: 59 Delphinius,60 Avid, 61 Cinnabar Group, 65 Kite Associates

Question 5

Ethics, professional and quality control issues scenario question.

2006 P&R Kit Questions: 3 Aventura International, 4 Corundum, 5 Isthmus, 9 Ebony

Question 6

Discussion question on current issues, e.g:

Fraud and auditor liability
International convergence
Audit exemption for small companies
Risk-based auditing
Related parties
Corporate governance
Laws and regulations
The discussion question often covers a scenario on a topic where the examiner has written an article in your Student Accountant magazine in the months prior to the exam. You should check the magazine/ACCA website for new articles in the months leading up to your exam.

Paper 3.2(MYS)

3.2

1. Investment Holding Company
-definition, 80% test, Computation -Listed/unlisted

2. Individual
-wife claim child relief
-join assessment
-settlement s65 anti aviodance
-relationshop wif small scaled co on tax planning(directors' fee/remuneration, div payment,19% Epf planning)
-personal finance(deposits,shares,reits,landed prop)
-self assessment for inv
-residense status of ind

3. islamic finance
-BBA
-ijara
-AL-wadiah vs al-mudharabah

4.Trade associtation,club, charitable inst

5. RPGT
-rpc,exchange of prop, para12,3(b),17,19,administrative

6.Incentives,
-exemption on export
-labuan
-R&D, contract R&D, R&D co, PR5/2004
-acq of foreign owned co
-OHQ &emplyees' exemptions

7. Tax planning for co
-50% sustantial shareholding test
-surrendering loss
-interest restriction
-div-credit,s108
-extraction of capital gain

8. employers' responsb
-tax evasion s114
-tax avoidance
-incorrect return s113
-record keeping
-directors' resposb s75A
-self assessment for co

9. s4A withholding tax PR4/2005
-s107A witholdung tax

ACCA 3.3 Exam Tips

 Contribution based decision-making – possibly involving expected values, maximax, maximin & minimax regret.
 Performance evaluation – ROI/RI and the conflict between performance evaluation and investment appraisal.
 The strategic framework – specifically a question based around the examiner’s recent article on “Business Strategy and Performance Models” (Student Accountant – April 2006). This is likely to focus on Porter’s 5 Forces and/or Ansoff’s matrix
 Decision making, focus on calculations of contribution and/or throughput
 Pricing decisions (discussion of traditional vs. strategic pricing decisions,maybe something on bowman's strategy clock)
 Modern developments. JIT, TQM and a discussion of activity based
management (ABC, ABB etc)
 Strategic planning models...value chain analysis or porters 5 forces
 Performance measurement. Divisional performance measurement and transfer pricing
 Benchmarking
 Maybe small question on MIS

ACCA Paper 3.3
Performance Management
December 2006 Exam Tips

Suggested practice questions from the BPP Practice and Revision Kit (2006 edition) are shown after the relevant area. Remember also that questions drawn from the 2003 and 2004 exam sittings, which are not contained in the 2006 P&R Kit but can be taken off www.accaglobal.com, are also an excellent source of preparation.

General: The exam is often time pressured and careful planning is required to ensure marks are maximised in time allowed. The examiner has examined some of the key topic areas in a very practical way but this has often looked unusually challenging on first read through.

There were some be new areas in the syllabus from June 2006;

Ansoff's growth vector matrix
BCG matrix
Porter's five forces model

Section A

To date the large question in this section has contained some elements of budgeting (short term planning). This will be heavily numerical with a small written element.

2006 P&R Kit Questions: 66 Privmed, 65 Motor Breakdown Services

The shorter question has often tackled some element of performance measurement with the majority of the marks being for numerical analysis.

2006 P&R Kit Questions: 43 Eatwell Restaurant, 37 Management Accounting and the Public Sector

Section B

There is usually a high discursive element in this section with 2 questions being wholly or almost wholly discursive. If it has not made an appearance in Section A performance measurement will make an appearance here.

Many of the modern management and management accounting techniques have been examined here;

2006 P&R Kit Questions: 11 Costs and Quality, 50 Activity Based Budgeting

Numerical topics do still appear in this area, topics that have not appeared for a little while include transfer pricing (which can also include qualitative issues) and uncertainty in decision-making.

ACCA 3.4 Exam Tips

 Porters five forces
 Macfarlan/Peppard
 Earls 3 leg
 PEST
 EIS
 Data management and data mining
 Soft systems methodology
 Impacts of the use of ecommerce
 Software selection – web site design

FTMS Tips (updated)

Section A

Question 1 – Compulsory 60 marks

Strategic Role of Information System
Earl’s nine reasons
Earl’s IT/IM/IS strategies: three legs
SWOT Analysis

Gap Analysis & Business Case Development
Earl’s System Audit Grid
McFarlan’s Grid
Peppard’s Application Portfolio
BCG Matrix

IS And Competitive Position
Porter’s Competitive Strategies
Porter’s Value Chain Analysis
Porter’s Five Force Model

Internet as a Strategic Business Tool
Virtual shopping
E-commerce

Section B – 2 out of 3 questions 20 marks each

Organizational Information
Cost and Benefit
Type of IS – EIS/DSS/ES

Knowledge Management & Data Management
Dbase & DBMS
Knowledge Support System
Data mining
Date warehouse and group collaboration systems

Strategic Role of Information System
Zuboff’s Automate, Informate, Tranformate
PEST; CSF

Business Systems & Systems Thinking
Business Automation, Rationalization, Re-engineering
SSM (Rich Picture and CATWOE)
Business Processing Re-engineering

Gap Analysis & Business Case Development
Gap Analysis
Earl’s Risk and Return Portfolio

IS And Competitive Position
Acquisition Procedures

IT outsourcing
Implementing Change
Lewin Model of changes
Ethical analysis; socio-technical design

3.4
parmindar's focused areas for 3.4 dec 2006.

IS in organization - CBIS(EIS), reasons for IS failure

office automation systems - groupware, tele-working

DBMS, data warehousing/mining

SWOT, PEST, CSFs, BCG, generic strategies, BPR, McFarlan/Peppard models, Parson and Nolan, business case justification

Earl's - information systems strategies, why IS/IT is strategic

SSM

e-commerce

change management - resistance and change theories/models

IT strategy in international context

ethics

Paper 3.4 Exam Tips

December 2006 Exam tips

Section A

To a large extent with this Examiner the nature of the scenario is irrelevant – it will be a business with significant system issues linked to a business plan or some strategic view.

The requirement areas could include

* Links with business strategy maybe with reference to Earl’s 3 legs
* Role of CSF’s defining information needs, in line with Jim Stone ‘s article of July 2006
* Application of Ethics as opposed to the more academic 5 moral dimensions question in December 2005
* E- commerce in a specific system / business opportunity
* Evaluation of the scenario’s business systems – maybe the long telegraphed legacy systems could appear!
* McFarlan’s / Peppards grid suggesting development priorities

Qs: 20, 34, 37,58,67,80,

Section B

Soft Systems methodology. A popular topic of the examiner and surely must return soon. Probably with the emphasis on the root definition and conceptual model elements. As an outside possibity there may be a link with agile systems in line with his April article.

Qs: 23, 25, 26, 27

Soft and hard development approaches. There may be a more general discussion on the approaches as opposed to the more specific application of a hard approach which was in the last exam.

Qs: 22, 83

Porter’s Models. Although the value chain came up recently, 5 forces has not been examined for 2 years. It could be time for that to reappear, but there are his other models

Qs: 16, 18, 65, 68

Parsons IS Strategies and Nolan’s Stage Hypothesis. A possible section B academic discussion could appear on either or both of these models.

Qs: 2, 13, 77

Knowledge management and databases. A popular topic that could appear in a mini scenario requiring a suitable technical explanation.

Qs 3, 6, 31, 32

ACCA 3.5 Exam Tips
• 60 marks study –likely to focus strategic management
• Environmental analysis
• Stakeholders
• Strategic options

• Section B ( possible areas)
• Marketing strategy possibly in a foreign country, where you would
have to analyse how you would adapt the marketing mix for a foreign
market
• Ethics/social responsibility
• ROI problems / benefits
• Role of the accountant in the innovation process
• Innovation/Business Growth/International Business/Change Management

Paper 3.5 Exam Tips

December 2006 Exam tips

Section A

Always difficult to predict the subject matter of the case scenario. Therefore this time it might be something simple in structure and based on the Manufacturing environment.

Areas that could be included within the requirements could include

* A discussion of the relative merits of different ways of making strategy
* Stakeholder analysis and objective setting
* Application of strategic analysis models
* Evaluation of strategic objectives, using the numbers included
* Marketing issues
* Change management

Qs: 52, 51, 49, 47 and 45

Section B

Marketing, including new product development. In part suggested by the recent article, and still has not been examined. – Refer to Dec 2003 Q1d as a good review.

Qs: 24, 26, 27, and 34

Information Technology. This is feasible this time because it is an important subject, which has been absent for the past few sittings.

Qs: 23, 28, 31 and 56

Globalisation strategy. The strategic development of global businesses was very popular when the paper was first introduced. It remains relevant and could be due another appearance.

Qs: 41, 42, 43 and 48

Change management. A favourite topic of the examiner and due to be reappear in either section A or B. – Refer to Q 54 c
Qs; 32 and 39

Ethics and corporate social responsibility. With all of the talk (and recent cases) of corporate scandal ethical behaviour is a very topical area of the syllabus

Qs: 16, 17, 18 and 49

ACCA 3.6 Exam Tips

Section A

This compulsory question will be on the preparation of consolidated accounts and the preparation of a group accounts with a foreign subsidiary is due, as is cash flow statements!

Section B

 Share based payments
 Deferred tax
 Financial instruments.
 Developments in group accounts
 Management Commentary / the OFR
 Reporting of non financial performance e.g. Corporate Social Responsibility, sustainability reporting
 Measurement issues
 Accounting standard for SMEs

ACCA Paper 3.6 (Global)
Advanced Corporate Reporting
December 2006 Exam Tips

For each area described, please note the reference to useful questions from BPP’s Practice and Revision kit (P&R kit) 2006 edition. We recommend you practise them all to get broad syllabus coverage.

Section A

The section A question can be on any of the traditional higher-level group accounting topics that are not examinable in paper 2.5. Complex group structures, consolidation of a foreign subsidiary or a group cash flow statement appear to be the most likely topics for this sitting.
The question often includes an adjustment for 4 or 5 marks on another area such as pensions, financial instruments, assets 'held for sale' or incorrect accounting entries.
2006 P&R kit practice questions: Largo, Rod (UK kit only), Memo, Squire.

Section B

Section B questions can either be a single question on one topic or questions that cover a range of standards.
Possibilities for examination include:

* 'Events' questions such as shutdown of an operation, switch to IFRS, natural or deliberate disaster, bringing in areas such as: impairments, provisions, events after the balance sheet date, non-current assets held for sale, discontinued operations, pension scheme curtailment effects, etc
* 'Mixed' questions where a range of standards are covered in separate unrelated parts of the question, such as related parties, recognition and impairment of tangible and intangible assets, foreign currency transactions, revenue recognition, leases, changes in accounting policies or deferred tax.
* Single topic questions in more detail (theoretical aspects followed up with calculations) such as segment reporting, earnings per share, , share-based payment or financial instruments (see examiner's articles below)
* Questions on topical areas, such as the continuing attempts to bring about international harmonisation and the effect on a company's accounts of applying IFRS, or on recent exposure drafts on the planned changes to groups and provisions.
* One of these questions can also include elements of group accounting, including group reorganisations, especially if question 1 is a cash flow statement question

2006 P&R kit practice questions: Argent (INT kit only), Transystems, Issue, Pohler Speed, Cohort, Rockby and Bye, Low Paints, Enterprise, Gear Software, Trident, A B C & D

* Performance and valuation measures, how they are changing and how they are affected by accounting policies often appear in the exam.
* A discussion question looking at current developments in corporate reporting. Topics that could appear here include: management commentary/operating and financial review, social and environmental reporting, business ethics, and reporting on the internet.

Remember the key topics for the December 2006 exams.
For the Section A question and groups:
- changes in the composition of a group – including disposals
- indirect holdings
- overseas entities
- the standard on business combinations, including reverse acquisitions
- group cash flow statements
The most likely question is one asking for translation of a net investment and hedge accounting
under the FI standard. It is possible that you get a group cash flow statement, possibly with an
overseas subsidiary.
For Section B questions:
- pension costs
􀀹 regularly examined
􀀹 consider the under-funding problem and the treatment of actuarial gains and
losses (conceptual problem under the corridor approach)
􀀹 consider the merits of the amendment of the employee benefit standard in this
regard
􀀹 both problem areas arise in defined benefit plans – possible discussion area
- SBPT – examined in each of the last 3 exams – consider cash-settled SBPT and share
appreciation rights
- non-current assets held for sale
- international harmonisation and convergence and the first-time application of
International (or Singapore or Hong Kong GAAP)
- discussion paper areas – in particular, leases
􀀹 classification drives the accounting
􀀹 the conceptual problem that arises if a lessee does not capitalize operating
leases
􀀹 should a lessee capital all leases?
􀀹 the leasehold property problem – classify L and B separately and account for
accordingly
􀀹 can an operating lease be classified as an IP? If yes, how to account for such a
lease
􀀹 sale and finance leaseback
􀀹 sale and operating leaseback
- the improvements project
- revenue recognition
- the highly examinable area of financial instruments consider:
􀀹 classification
􀀹 reclassification
􀀹 impairment
􀀹 derecognition
􀀹 accounting for convertibles
􀀹 accounting for non-equity interests
􀀹 hedge accounting – 3 different situations; 3 different sets of rules
- the often examined area of impairment
􀀹 impairment of goodwill
􀀹 impairment of corporate assets
􀀹 impairment of financial instruments
- the regularly examined areas of provisions and intangibles
- the sometimes examined areas of related parties, government grants, segment reports,
investment properties and agriculture – the segment reports standard is being revised –
consider the question: what is an operating segment?
- PPE – compare OOP with IP – what is a hotel? OOP or IP?
- how should a property developer account for pre-sold property? – consider the timing of
the recognition of revenue
- conflict between the “principles” and the requirements of accounting standards
􀀹 the leasing standard – the problem of lessees not capitalising operating leases
􀀹 the employee benefits standard – the problem of recognition of actuarial gains
and losses under the corridor approach
􀀹 the government grants standard – is there a conceptually method for the
recognition of the benefit of a government grant?
- eps and deferred tax issues – eps is a very likely area for examination – note the
treatment of contingent shares in basic and diluted WANOS
- ethics and good corporate governance and environmental reporting
- accounting for minerals and emission rights
- share valuation
- recycling
- web-based reporting
- an accounting standard for SMEs – possibly, again – read the article in the April 2006
Student Accountant
- etc……..
Note the shift in emphasis in the December 2005 exam to “single-standard” questions. June
2006 reverted to the more usual multi-standard questions. Be prepared for both types of
question in December 2006. Be prepared for questions on eps, leases, impairment and, again,
financial instruments.

ACCA 3.7 Exam Tips

Section A

* Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment.

* Company Valuation within the context of Merger and Acquisitions: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.

* WACC - Risk adjusted WACC – APV calculations within the context of a standard investment appraisal question. However risk adjusted WACC could also be examined within the context of traditional gearing.

* Risk management: Interest rate risk / Currency Risk

Section B:

* Economic Value Added – EVA
* Portfolio Theory and CAPM - summary and alpha tables
* Dividend Policy
* Term Structure of Interest rate
* International economics – I.M.F., Treasury Management. Balance of payments deficits and Forecasting exchange rates.

ACCA Paper 3.7
Strategic Financial Management
December 2006 Exam Tips and Useful Articles

Health Warning!

The examiner deliberately tries to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

On this basis specific tips would be misleading and counterproductive. The following may be a guide however:

Section A:

Capital Structure:

M & M Theory with and without tax leading into gearing and ungearing betas to estimate a cost of capital and then use that cost on an investment appraisal. Real options theory.

Global Financial Management:

As a core topic this can be expected to arise somewhere on the paper although for the June sitting this did not feature significantly. An overseas NPV would seem a likely candidate for the compulsory section. The examiner will expect you to be able to discuss political risks in this context.

Corporate Restructuring:

This topic is due to be tested in depth again. Management Buyouts did arise as an option question in December 2005 involving a forecasting element. There has not been a reconstruction scheme tested for some time however. Valuations may be incorporated into the calculations.

Section B:

CAPM and Portfolio Theory:

This is tested so often it is notable when it doesn’t arise. Changing business risk featured in December 2005 but there was no Portfolio Theory this is a popular optional question with the examiner.

Adjusted Present Value:

This topic has not arisen for some time and is due to be tested.

Interest Rate/Currency Hedging:

Other:

EVA and Free Cash Flow particularly due to the article published in June/July. Black Scholes is also due to be examined.

Question 6 is always discursive. Recently it has featured questions on the Global Economic Environment. Corporate Governance or ethical business practices have not been tested for some time.

for more continous updated tips please visit LowYat forum

ACCA Exam Tips December 06 Part 3 from ftc

2006-11-04T06:34:00.000+08:00

3.1
Risk Appraisal, Risk Management and Audit Strategy
Assurance Services - PFI and Performance Measurement
Matters and Evidence - usual GAAP favourites - Intangibles, Provisions, Impairment etc.
Audit Reports - ISAs 570 & 720
Ethics/Professional Conduct/Practice Management
Current Issues - 'Yesterday's News'

3.3
Contribution based decision-making – possibly involving expected values, maximax, maximin & minimax regret.
Practical aspects of pricing policy
Performance evaluation – ROI/RI and the conflict between performance evaluation and investment appraisal.
The strategic framework – specifically a question based around the examiner’s recent article on “Business Strategy and Performance Models” (Student Accountant – April 2006). This is likely to focus on Porter’s 5 Forces and/or Ansoff’s matrix

3.4
Porters five forces
Macfarlan/Peppard
Earls 3 leg
PEST
EIS
Data management and data mining
Soft systems methodology
Impacts of the use of ecommerce
Software selection – web site design

3.5
Corporate appraisal
Ethics
Corporate governance
CSR
Globalisation issues
Marketing

3.6
Section A
This compulsory question will be on the preparation of consolidated accounts and the preparation of a group accounts with a foreign subsidiary is due, as is cash flow statements!

Section B
Share based payments
Deferred tax
Financial instruments.
Developments in group accounts
Management Commentary / the OFR
Reporting of non financial performance e.g. Corporate Social Responsibility, sustainability reporting
Measurement issues

3.7

Section A
Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment.
Company Valuation within the context of Merger and Acquisitions: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.
WACC - Risk adjusted WACC – APV calculations within the context of a standard investment appraisal question. However risk adjusted WACC could also be examined within the context of traditional gearing.
Risk management: Interest rate risk / Currency Risk

Section B:
Economic Value Added – EVA
Portfolio Theory and CAPM - summary and alpha tables
Dividend Policy
Term Structure of Interest rate
International economics – I.M.F., Treasury Management. Balance of payments deficits and Forecasting exchange rates.

ACCA Exam Tips December 06 Part 2 from ftc

2006-11-04T06:32:00.000+08:00

2.1 ~ Managing Information Systems

Business strategy and IS/IT strategy
Legacy systems
Accounting for IS/IT costs
Staff roles and responsibilities
Project management and control
Centralisation/decentralisation
Designing Information Systems

Methodologies
Modelling
External design: data capture
Invitation to tender
Prototyping and 4GL
Evaluating Information Systems

Security/legislation
Quality
Documentation
Maintenance

2.4
Investment Appraisal; NPV to include relevant costs, tax and inflation, and possibly capital rationing and/or sensitivity analsysis
Working capital management, possibly to include stock
Costing systems (ABC ?)
Budgeting and Budgetary control
Long term finance and gearing

2.5
Groups
Restated financial statement
Substance
Provisions
Cash flow
Interpretation

2.6
New Client Appointment / Conflicts of Interest
Practical Audit Risk
Engagement Letters
Materiality
Management Letter - purchases / computer controls
Sampling
Substantive Testing of Receivables / Payables
Audit Report scenarios
Role of Audit Committees
Responsibilities for fraud

ACCA Exam Tips December 06 Part 1 from ftc

2006-11-04T06:30:00.000+08:00

1.1 - GBR/IAS
SECTION A (50 %)
25 Multiple choice questions
Will cover all areas of the syllabus

SECTION B (50%)
Longer questions – will include theory and computational questions, each question worth between 8 to 12 marks.

Preparation of financial statements for a sole trader/company
Consolidated balance sheet
Fixed/Non current assets ledger accounting
Incomplete records
Accounting standards/ concepts/theory
Ratios and interpretation

1.2
The paper will consist of 25 MCQs of 2 marks each and 5 long questions of 8-12 marks each. The MCQs will vary in difficulty, but the variety will ensure that the paper reflects the syllabus. The five long questions will be a mix of (mostly) calculations and (a few) written marks. The vast majority of the marks in this paper will be for calculations.

The nine key areas of the syllabus will make up the bulk of the exam paper:

Cost classification and behaviour.
Material, Labour and Overhead costs.
Absorption and Marginal Costing.
Process Costing.
Standard Costing (includes variances).
CVP analysis (includes break-even).
Pricing Methods.
Relevant Costing
Limiting Factors and Linear Programming

1.3
Primary Tips:
Counseling
Individual, Groups and Team behaviour
Motivational Theories
Objective setting; performance indicators
Effective Communication
Management of Diversity/Equal Opportunities
Secondary Tips:
Leadership Theories
Recruitment and Selection
Management by Objectives
The Learning Process – Mumford and Kolb

Sales Executive~~Hisaka Automation Sdn Bhd

2006-10-26T23:04:00.000+08:00

There is requirement for a Sales Executive at Hisaka Automation Sdn Bhd

The jobscope requirement is
1) Having Own Car/transport
2) Some technical knowledge
3) Male or Female
4) Willing to learn
5) Monthly pay with car allowance/tout/petrol & parking.
6) Computer knowledge
7) Decent Looking

Pls kindly contact Miss Kelly at kelly@hisaka.com.my
at the following address & contact no.

HISAKA Automation Sdn Bhd
No 5, Jalan Puteri 5/3,
Bandar Puteri Puchong,
47100 Puchong,
Selangor Darul Ehsan
Malaysia
Tel: 03 8060 3282
Fax: 03 8060 0282

ACCA 3.2 IRC revision Class

2006-08-26T12:19:00.000+08:00

THE 3.2 IRC

Date: 10,11,12 and 14 NOVEMBER 2006

Price is RM 400 for 4 days

First come First serve
Please register fast

2.3 Dec Revision Class

2006-08-26T12:15:00.000+08:00

Calling for ACCA 2.3 Dec 2006 sittings candidate!

There will be a 3-day 2.3 Intensive Revision Class conducted by Dr. Choong Kwai Fatt.

Venue: SEGI College KL
Date: 3-5 November 2006
Time: 9-5 pm
Price: RM 300

Seats are limited!Please register as soon as possible!!!!!!!!!!!!!!!!!!!!!!

Research for AFA 2005 alumni

2006-07-01T11:38:00.000+08:00

Dear all afa friends who graduated in 2005,

Ms Geh is conducting a research for AFA alumni,

hence she need the following information:-
1. 1st job position after you graduate
2. Name of the firm you work with
3. The starting pay you received

Please kindly 'BOMB' your reply or question to gehws@mail.tarc.edu.my

Please to pass this message to your friends, to help Ms Geh complete her research.

All your information would be kept confidential!!!!!

Thanks

Tee Chong

June 2006 Exam Tips

2006-05-21T10:10:00.000+08:00

WARNING: Tips are no substitute for revision!

Paper 1.3 Managing People
Read examiner’s latest article “Management and Supervision”
Role of Management/Supervisor
Recruitment and Selection – a question in every previous exam to date
Motivation and Leadership
Effective Communication Practices -counselling
Authority, responsibility and delegation
Classical and modern theories of management
Objective setting; performance indicators; Management by Objectives
Individual, Groups and Team behaviour
Training and Development
Management of Diversity/Equal Opportunities

Paper 2.1 IS Managing information systems

Business Strategy and IS/IT alignment
Delivering information systems – accounting issues
Project initiation – Project Manager roles and responsibilities
Project planning – Gantt charts
Outsourcing
Legacy systems
Terms of reference
Staff roles and responsibilities
Designing information systems
The information systems development process – Waterfall and Spiral models
Modelling user requirements – entity life history
Software package selection – ITT
External design – User friendly systems,prototyping ,data capture,4GL
Modelling: business process model; business event model
Invitation to tender
Evaluating information systems
Technical IS requirements – Housekeeping and audit trails
Implementation issues and implementation methods
Quality assurance in the management and development process – V model
Relationship of development processes and quality
Security: physical security; passwords; validation; encryption
Changeover methods
Maintenance

ACCA 2.4 Financial Management and Control
Investment Appraisal; NPV to include tax and inflation, other methods of appraisal (possibly IRR) and possibly capital rationing
Sources of finance
Performance measures
Working capital (probably stock management but possibly debtor management)
Modern costing techniques
Sensitivity analysis, risk and uncertainty
Long term finance and gearing
Budgeting
Variance analysis – possibly to include mix and yield variances

ACCA Paper 2.5
Q1:
Consolidated balance sheet and/or income statement with one subsidiary and possibly an associate or joint venture.
-adjustments fair values, unrealised profit on inventories or tangible assets, cancellation of intragroup trading, goods/cash in transit, pre-acquisition dividends.
Q2:
Preparation/restatement of an income statement and/or balance sheet.
-adjustments for current tax, depreciation, interest and dividends. Other adjustments may relate to debt factoring or other substance over form issues, leases, financial/capital instruments, revaluations, share issues, inventory (stock) valuation, government grants or deferred tax. There may be further disclosure requirements re discontinued operations, movement in reserves or an earnings per share calculation.
Q3:
Written question examining theoretical/conceptual areas or accounting standards. This could be on construction contracts, leases, provisions, inflation, intangible assets, accounting policies or substance over form issues with reference to the Framework for the Preparation and Presentation of Financial Statements (Statement of Principles).
Q4:
Interpretation and/or cash flow statements. There could also be a discursive part on why, for example, segment or discontinued operations disclosures are useful.
Q5:
No specified format or content and will cover other areas of the syllabus. The examiner frequently includes a 'mixed bag' question, which examines three or four different accounting standards.
Possibilities this sitting include: deferred tax, construction contracts, segment reporting, events after the balance sheet date, governments grants, financial/capital instruments, discontinued operations or substance over form issues.

ACCA 2.6 Exam Tips
Management Letter on Purchases/Payroll/Computer Controls,very similar in substance to that produced by an external auditor
Non-current (fixed) assets, bank/cash and receivables (debtors)
Systems and controls –the purchases/payables and sales/receivables systems looking the most likely.
Planning and risk assessment
Professional ethics – Independence and Confidentiality
Audit/ Assurance Reports –Audit Work and Audit Reporting regarding Going Concern
Parts of questions –fraud, management representations, audit regulation, materiality, e-technology
Corporate Governance - Role of Audit Committees
Internal Audit - compared with External Audit / role in Risk Management

ACCA 3.1 Exam Tips
Q1 & Q2 :
Risk assessment, risk management and audit strategy.
Assurance services - prospective financial information, or reporting on non-financial information.
Control suggestion and/or evaluation
Audit evidence on Paper 2.5 accounting areas (see also Q3 suggestions)
Group audit issues (including audit work on fair values)
Planning/practice management/quality control issues
Assurance services, e.g. performance measurement or prospective financial information
Q3. Matters and evidence - 3 scenarios.
Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:
Events after the balance sheet date
Provisions
Impairments
Earnings per share
Segment information
Related party disclosures
Deferred tax
Discontinued operations
Standard costing
Intangible assets
Revenue recognition
Borrowing costs
Q4. Audit reporting - Opening balances and Comparatives.
Q5. Professional and ethical matters / practice management, quality control issues scenario question.
Q6. Current issues, e.g:
Fraud and auditor liability
International convergence
Audit exemption for small companies
Risk-based auditing
Related parties
Corporate governance
Laws and regulation

ACCA 3.2(MYS) Exam Tips
Compulsory (must read) (80%-100%)
1. Real Estate Investment Trust (must know S4(a),S33,S34,S34(6) n S39)
2. Residence Status Individual + Islamic Finance (such as I-ijara n bai-Bithatman Ajal)
3. Alowance for increased export (OHQ,R&D)
4. Contract Payment (S107,S4A-WitHoldingTax)
5. Interest restriction
6. Company restructuring

Important (50%-80%)
1. Tax Planning for Individual (JA,separate assessment,all the relief,settlement,income splitting)2. Personal Finance
3. Private Residence Exemption (RPC,Exchange,para 17(1)(a)
4. Tax Audit n Investigations
5. Labuan
6. Stamp Duty Exemption

If got time then read (30%-50%)
1. Club
2. Co-operation
3. Charitable Institution
4. Pioneeer, RA, Investment Tax Allowance
5. Property Development
6. Leasing

ACCA 3.3 Exam Tips
There will be new areas in the syllabus for June 2006;
Ansoff's growth vector matrix
BCG matrix
Porter's five forces model
Budgeting (short term planning)- heavily numerical with a small written element (performance measurement)
Contribution based decision-making
Practical aspects of pricing policy
Performance evaluation – ROI and RI
The learning effect
The strategic framework – specifically a question based around the examiner’s recent article on “Business Strategy and Performance Models” (Student Accountant – April 2006)

ACCA 3.4 Exam Tips
Change Management – Lewin’s approaches to change,application of how an organisation can manage change using an unfreeze, change and refreeze approach . An article appearing in Student Accountant in November 2005 may be a useful indicator here.
Global business strategies
Systems Development – the examiner may look at alternative approaches to soft systems methodology, or perhaps look for a comparison or evaluation of different methods
E-commerce – this always creeps into questions, but a big question looking at the benefits and risks is possibly overdue
SWOT analysis – ability to determine the issues which affect the business using and internal and external focus
MacFarlan/Peppard’s Strategic grid – possible application to a case study with the comparison of competing projects
Intranet – development of a system to support internal operations
Business and IS/IT alignment
BPR and the implications of changing business operations
E-commerce – development of web sites and their impact on both business and individual customer usage

ACCA 3.5 Exam Tips
Section A
Manufacturing environment
A discussion of the relative merits of different ways of making strategy
Stakeholder analysis and objective setting
Application of strategic analysis models
Evaluation of strategic objectives, using the numbers included
Marketing issues

Section B
Marketing, including new product development
Human resources.
Globalisation strategy.
Ethics and corporate social responsibility.
Corporate governance issues

ACCA 3.6 Exam Tips
Section A
The preparation of a group income statement is due, as is the translation of foreign subsidiaries and cash flow statements.
-adjustment for 4 or 5 marks on another area such as pensions, financial instruments, assets 'held for sale' or incorrect accounting entries.
Section B
Possibilities for examination include:
• 'Events' questions such as shutdown of an operation, switch to IFRS, natural or deliberate disaster, bringing in areas such as: impairments, provisions, events after the balance sheet date, non-current assets held for sale, discontinued operations, pension scheme curtailment effects, etc
• 'Mixed' questions where a range of standards are covered in separate unrelated parts of the question, such as related parties, recognition and impairment of tangible and intangible assets, foreign currency transactions, revenue recognition, leases, changes in accounting policies or deferred tax.
• Single topic questions in more detail (theoretical aspects followed up with calculations) such as segment reporting, earnings per share, first-time adoption of IFRS (IFRS 1) or financial instruments (see examiner's articles below)
• Questions on topical areas, such as the continuing attempts to bring about international harmonisation and the effect on a company's accounts of applying IFRS, possibly linked with IFRS 1, recent exposure drafts on the planned changes to groups and provisions and share-based payment
• Group reorganisations, especially if question 1 is a cash flow statement question
• Performance and valuation measures, how they are changing and how they are affected by accounting policies often appear in the exam.
• A discussion question looking at current developments in corporate reporting. Topics that could appear here include: social and environmental reporting, Corporate Social Responsibility, business ethics, accounting standards for small and medium-sized entities and reporting on the internet.

ACCA 3.7 Exam Tips
Section A:
•Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment. perhaps combined with currency hedging or international cash management would seem a likely candidate for the compulsory section. The examiner will expect you to be able to discuss political risks in this context.
• Risk management: Currency Risk / Interest rate risk and hedging
• Company Valuation within the context of Merger and Acquisitions: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.
• Corporate Restructuring:Valuation
Section B:
• Economic Value Added – EVA
• Dividend Policy
• Portfolio Theory and CAPM - summary and alpha tables
• International economics – I.M.F., Treasury Management. Balance of payments deficits.
• Adjusted Present Value:
• Free Cash Flow feature regularly as does Black Scholes.

ACCA FTC Exam Tips June 06 Part 3

2006-05-04T20:59:00.000+08:00

3.1 INT and GBR
Q1. Risk assessment, risk management and audit strategy.
Q2. Assurance services - prospective financial information, or reporting on non-financial information.
Q3. Matters and evidence - 3 scenarios.
Q4. Audit reporting - Opening balances and Comparatives.
Q5. Professional and ethical matters / practice management.
Q6. Current issues.

3.3
Contribution based decision-making
Practical aspects of pricing policy
Performance evaluation – ROI and RI
The learning effect
The strategic framework – specifically a question based around the examiner’s recent article on “Business Strategy and Performance Models” (Student Accountant – April 2006)

3.4
SWOT analysis – ability to determine the issues which affect the business using and internal and external focus

MacFarlan/Peppard’s Strategic grid – possible application to a case study with the comparison of competing projects

Lewins Model – application of how an organisation can manage change using an unfreeze, change and refreeze approach

Intranet – development of a system to support internal operations

Business and IS/IT alignment

BPR and the implications of changing business operations

E-commerce – development of web sites and their impact on both business and individual customer usage

3.5
Ethics
Corporate governance issues
CSR
Globalisation
Marketing

3.6 IAS
Section A
This compulsory question will be on the preparation of consolidated accounts.
The preparation of a group income statement is due, as is the translation of foreign
subsidiaries and cash flow statements!
Section B
Share based payments
Revenue Recognition
Financial instruments.
International issues
Reporting of non financial performance e.g. Corporate Social Responsibility,
sustainability reporting

3.7
Section A:

Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment.
Risk management: Currency Risk / Interest rate risk
Company Valuation within the context of Merger and Acquisitions: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.

Section B:

Economic Value Added – EVA
Dividend Policy
Portfolio Theory and CAPM - summary and alpha tables
International economics – I.M.F., Treasury Management. Balance of payments deficits.

Career Exhibitions

2006-04-30T23:38:00.000+08:00

ACCA Participation in Career Exhibitions Organised by NAPEI

-student volunteers needed for these event
-interested please give names to Ms Geh asap( by 2 May 2006) to facilitate
arrangement.
- If interested students are around, please go to see /look for Ms Geh to fill up the forms.

Audit Senior/Audit Trainees

2006-04-30T23:37:00.000+08:00

Audit Senior/Audit Trainees
- Possess professional qualification /finalist of relevant professional
exams / Diploma holders / LCCI Higher / fresh graduates
- at least 1-2 years relevant working experience

Pleae write/fax in with full resume, current and expected salary to:

RSM Robert Teo, Kuan & Co
Penthouse, Wisma RKT, Block A
No 2, Jalan Raja Abdullah,
Off Jalan Sultan Ismail,
50300 Kuala Lumpur.
Fax: 03-2691-7733
Tel: 03-2697-2888

Vacancy - Damansara Utama

2006-04-17T20:55:00.000+08:00

There is vacancy for Audit & Tax Trainee, Admin Assistant & Accounts clerk.

An audit firm in Damansara Utama.

Requirement
Min LCCI/CAT or equivalent/ACCA part qualified or other qualification.
Good in english and Maths.
Computer literate.

Working days :5 days week.

Temporary staffs are welcome apply.
Please email your resume to wsl@pwandco.com

Examination Technique Seminar

2006-04-11T21:05:00.000+08:00

Come and discover the techniques to excel in Paper 2.6 and Paper 3.2.

Seminar 1 - Paper 2.6 Audit & Internal Review
Speaker: Mr Choo Seng Choon
Date: 20 April 2006 (Thursday)
Time: 6.30pm ?9.30pm
Venue: Corus Hotel, Jalan Ampang, Kuala Lumpur
Registration Fee: RM10 only

Seminar 2 - Paper 3.2 MYS Advanced Taxation
Speaker: Mr Richard Thornton
Date: 27 April 2006 (Thursday)
Time: 6.30pm ?9.30pm
Venue: Corus Hotel, Jalan Ampang, Kuala Lumpur
Registration Fee: RM10 only

Objectives of the Seminar:

• Dissecting the Paper
• Methods to tackle the exam questions
• Topics that should be covered prior attempting the examination
• The Do's and Don’ts of the Paper

For further details or registration please contact your tuition providers or

Ms Hannah Ramsamy
Executive ?Education & Services
Tel: 03-2713 5051 ext 20
Email: hannah.ramsamy@my.accaglobal.com

Last day of registration will be on 15 April 2006.

Permenant vacancy in Audit Firm

2006-02-23T12:57:00.000+08:00

Dear all,

annother vacancy from Ms Geh's connection,

if you are looking for a permenant vacancy in an Audit Firm for those who already graduate, you can contact the following:-

S M TUANG & CO
18-1B JALAN PANDAN 2/1
PANDAN JAYA
55100 KUALA LUMPUR
Tel: 03 – 9284 3473
Fax: 03 – 9285 8145

person to contact is Anne of SM Tuang.

Regards

teechong

2006-02-16T22:53:00.000+08:00

dear all,

for your information, the answers for the latest sitting (dec 2005) for the acca past year question is out on the accaglobal website.

you can go and have a look on the question and answer and have a good and early start for those who are preparing yourself to sit for any papers this coming sitting.

Vacancy

2006-02-16T21:49:00.000+08:00

The following immediate vacancies available!!!!
AUDIT AND TAX ASSISTANTS

Requirements:

Diploma/Degree/Part Professional

Fluent in English, Malay & Mandarin

Pleasant personality

With or without experience

Interested candidates, please direct your application and resume to:

BC TEOH & CO. (AF: 1541)

Chartered Accountants
No. 6-1A, Jalan 9/23E, Taman Danau Kota
Batu 4 ½, Off Jalan Genting Kelang
53300 Setapak, Kuala Lumpur

E-mail : yf_chong@streamyx.com
Tel No: 03-4142 7633
Fax No: 03-4149 7633
(Only shortlisted candidates will be notified)

Shu student gathering

2006-02-06T23:50:00.000+08:00

Alumni Gathering

Calling all SHU/TARC graduates and students who will be joining us in the summer of 2006.

You are invited to join us for an afternoon get together. Refreshments will be served.

Take this opportunity to meet up with friends and SHU course leaders.

Date: March 18, 2006 (Saturday)
Time: 3.30pm
Venue: KTAR Learning Centre
Ground Floor, Wisma MCA
No. 163, Jalan Ampang
50450 Kuala Lumpur
Admission: Free

more info please refer to http://www.shu.ac.uk/tarc/alumni.html

Immediate vacancy -Bank Executive Hong Leong Bank

2006-01-18T20:32:00.000+08:00

Dear All
Good news for those who are desperate in looking for Immediate vacancy.

Permanent vacancy as Bank Executive in Hong Leong Bank.
Available for those either with Diploma or Advanced Diploma.

If you are interested, please email gehws@mail.tarc.edu.my your name and contact number soonest possible so she can forward your contact to the employer.

thanks and best regards
teechong

Audit assistant - Lawrence Wong & Co

2006-01-12T12:45:00.000+08:00

Dear Coursemate,

Lawrence Wong & Co offering a position as audit assistant,
so if you are interested on the above position and want to know further information regarding the above please contact Ms Geh at gehws@mail.tarc.edu.my

Thanks regards

Tee Chong

Internal Audit Assistant, Account Executive, Sales Admin Executive (Billing and Collection / Loan & Documentation)

2005-12-07T18:07:00.000+08:00

vacancy for Internal Audit Assistant, Account Executive, Sales Admin Executive (Billing and Collection / Loan & Documentation)

Write in a detailed resume including expected salary, contact number and send to:
Human Resources Department
No 2, Jalan Apollo CH,
U5/CH, Seksyen U5,
40150 Shah Alam.
Selangor Darul Ehsan.

Tel : 03-7846-8068 ext 220
fax : 03-7847 5721

Only shortlisted candidate will be notified.

QL Resources Berhad

2005-12-05T20:45:00.000+08:00

QL Resources Berhad is an established main board public listed company involved in diversified resource and argiclutural-based activities. Annual turnover more than RM900million.

Our subsidiaries who are the largest marine-based products manufacturer in Malaysia are currently looking for people who wish to work near Teluk Intan, Perak and Kota Kinabalu, Sabah. We have the following positions:

Assistant Management Accountant (Selangor - Klang)

Requirements:

Diploma in management accounting, relevant university or professional qualification (full or partial).
With or without experience.
Possess good interpersonal skills & EQ.

Financial Accountant (Perak, Sabah)

Requirements:

Diploma in financial accounting, relevant university or professional qualification (full).
With experience.
Possess good interpersonal a skills.

Assistant Financial Accountant (Perak, Sabah)

Requirements:

Diploma in financial accounting, relevant university or professional qualification (full).
With experience.
Possess good interpersonal a skills.

--------------------------------------------------------------------------------

Interview invitations and status updates may be sent via email so please check your email regularly.

We will offer you career opportunity in a result and people oriented environment. Training on work and personal development. Attractive remuneration to commesurate with you qualifications and experience.

Interested candidates are invited to write or email resume including salary expected, contact details, recent passport sized photo etc not later than 31st December 2005. We thank all applicants in advance BUT only short listed candidates will be notified.

Group Accountant,
QL Resources Bhd,
5 Lorong Bukit Kuda,
Off Jalan Batu Tiga Lama,
41300, Klang, Selangor.

E-mail:qlfeed@tm.net.my

Vacancy for Accountants.

2005-11-30T13:26:00.000+08:00

Vacancy for Accountants.

Employer: APM Automotive Holdings Berhad
Vacancies: Port Klang, Bkt Beruntung, Tanjung Malim and Overseas.
Fresh graduates are encouraged to apply.
Computer literate with exposure to ERP systems.
Matured with good interpersonal skills.
Willing to travel and relocate to any subsidiaries within the group.
Good spoken and written English and Chinese.

Kindly submit application, with passport size photo, stating current and expected salary to:

GROUP HR DEPARTMENT
APM Automotive Holdings Berhad
Lot 1, Jalan 6/3,
Kawasan Perusahaan Seri Kembangan,
43300 Seri Kembangan,
Selangor Darul Ehsan.
email: gr-apmah@apm-automotive.com
Fax: 03-8946-3319

Looking for Finance Assistant

2005-11-26T09:05:00.000+08:00

Looking for Finance Assistant

Requirements:
-STPM / LCCI or equivalent.
-Able to handle full set of accounts.
-Must be compute literate.
-Good communication skills, both in English and Mandarin.
-Able to work independently with minimum supervision.
-Working experience in similar capacity is an added advantage
-Knowledge in Ms Excel would be an added advantage

Personal Attributes
-Possess the following traits and competencies;
-Analytical
-Quality orientation

marcus evans - Kuala Lumpur Office
CP21, Suite 2101,
Central Plaza,
34 Jalan Sultan Ismail,
50250 Kuala Lumpur,
Malaysia

Tel: 603 2723 6600
Fax: 603 2723 6700

Finance Manager:
Jerry Yeoh
jerryo@marcusevanskl.com

Ten steps to passing ACCA 3.6

2005-11-13T07:46:00.000+08:00

BPP Liverpool tutor Paul Bennett maximises your chances of passing paper 3.6 by bringing you ten top tips to follow. With the June pass rate down six percent on the previous sitting, this is just the job

1 - Find a good tuition provider with up-to-date materials. This is particularly important for paper 3.6 as the syllabus is always changing and the examiner, Graham Holt, sets exams which test your knowledge of recent accounting standards and current developments.

Look for a tuition provider with ACCA Premier or (even better) Premier Plus status (you can view lists of these on ACCA’s website) and ask qualified friends and colleagues for their recommendations. Go to open days to check out tutors, study materials and premises. Look for an approachable tutor – you might not be the class Hermione Granger but you’ll probably have more questions to ask than you did for lower level papers.

Recommended tuition provider like FTMS (keith farmer) and SYSTEMATIC (Hanif) for IAS and MASb in Malaysia

2 - Review the examinable legislation and documents for your sitting of the 3.6 exam which can be found in ACCA’s Student Accountant magazine in February and September each year (or on the ACCA website). Although a good, broad knowledge of the whole syllabus is required to pass the exam, make time to focus on the newest standards and exposure drafts. These are the ones most likely to be tested in detail in the exam.

3 - Whether you are attending a taught course or following a home study system, start studying seriously from day one. The syllabus is huge but reassuringly it builds on your paper 2.5 knowledge.
However, there is a lot to learn and re-learn so the sooner you start building up your knowledge the better.

For each accounting standard/exposure draft you study complete a small index card, with the name and number of the standard on one side and some key points on the other. Then carry these round with you and test yourself when you have a spare minute. Looking at the name/number side, can you remember the key points? Scanning the other side, can you recall the name and number correctly?

4 - Try to read round the subject, not focusing solely on your study materials. Articles in Student Accountant magazine marked as relevant to paper 3.6 (which can be downloaded from the ACCA website) are essential reading, especially any written by Graham Holt, as they are often tested in subsequent exams.

The accounting standards setters have websites giving details of projects they are working on and current developments (see for example www.iasb.org.uk or www.asb.org.uk). Newspaper articles in the business pages can give useful illustrations for an exam answer (e.g. explaining why a company’s results have changed as they switch from local GAAP to international standards).

5 - Group accounting techniques are a core area of the syllabus – you must practise consolidations. We know question one of the exam is always on group accounts, and the topic also often appears in one or more of the optional questions.

Make sure you have a good grasp of the basic techniques, as these can give you the easier marks in the exam. Review your paper 2.5 notes if necessary - assuming you did not burn them to celebrate passing that exam! Then build up knowledge of more advanced areas like consolidating foreign subsidiaries.

6 - Review some real sets of accounts to see how companies apply the standards you are studying in real life situations. Look at your own organisation’s accounts, maybe those of the shop where you buy clothes, the football club you support or the pub chain where you have a drink. For larger companies you’ll usually find the latest Annual Report on their website.

7 - Don’t get bogged down in the details of any one area you are studying. Accounting standards have lots of detailed rules, but concentrate on the main issues first - why a standard was released, the main objectives and how these are achieved. You will gradually build up more detailed knowledge by attempting questions and re-reading your notes.

Be patient too. Maybe at paper 2.5 everything made sense first time round. At Part 3, however, the topics and issues are harder so give them time to sink in. Knowledge you are gaining from other Part 3 core papers will sometimes shed light on a 3.6 topic. For example, hedge accounting will make more sense when you have studied hedging techniques in paper 3.7.

8 - The Framework for the Preparation and Presentation of Financial Statements (or for UK stream students the Statement of Principles) is particularly important at paper 3.6 as the conceptual framework on which standards are based. Spend some time becoming familiar with the key principles, then see how they are applied to each standard you study.

9 - Make good use of all the study resources at your disposal. If you have a friend studying paper 3.6 at the same time as you, meet up occasionally to discuss a selected topic. If not, ask a recently qualified work colleague if you can do this (maybe over a lunchtime sandwich). When you come across something you can’t understand, don’t spend long puzzling over it - ask your tutor.

In a rapidly changing subject such as paper 3.6, it could just be a misprint in your study material which a tutor would quickly spot.

10 - Accept that it’s a tough paper and studying for it will involve some hard work. BUT it’s not impossible. The examiner is known for setting tough papers but marking them leniently. Think of the qualified accountants you know. They’ll be good accountants, but not superhuman.

Reasonable (not perfect) knowledge coupled with question practice and good exam technique will get you through. Good luck with your studies, keep going - and roll on those study-free evenings and weekends when you’ve passed!

How to Pass Paper 3.7

2005-11-13T07:36:00.000+08:00

LCA’s Steve Lumby helps you get through what is always the biggest hurdle to becoming ACCA qualified

First the bad news. The pass rate on 3.7 has consistently been around 10% below the pass rate on the other two Final Level core papers. Furthermore, the pass rate for 3.7 never even achieves 50%. This means that the average candidate fails the paper.

Given this information, I cannot help but make the following observation. There is something wrong here.

Either the problem lies with the nature of the 3.7 syllabus and/or how it is being examined or the problem is with the ACCA exam structure which is allowing too many candidates to reach Level 3, who do not have the ability to pass Level 3. At the final stage of professional exams, the normal expectation would be that around two-thirds of candidates should pass. The fact that well under half pass 3.7 does not look good for the ACCA.

Despite the foregoing comments, the good news is that you do not have to know very much in order to pass 3.7… but you do have to know something!

There was a comment made to the Pass Talkback Line - published in the 08.2005 edition - that almost encapsulates the problem of lack of basic knowledge. The candidate complained that Question 1 in the 3.7 exam for June 2005 required an analysis of ‘Free Cash Flows’ and they didn’t know what was meant by that term.

This level of ignorance, (from what is presumably a serious final level candidate), beggars belief given that virtually every 3.7 exam over the last several sittings have contained questions involving free cash flow - including a question in June 2000 which simply said: ‘What is Free Cash Flow?’. (Given that this particular candidate then when on to say that ‘I have since found out that free cash flow is a new name for NPV…..’ this does not auger too well for their next re-sit attempt either!).

So, what do you need to do to pass Paper 3.7? Here are some tips:

o Look intelligently at past examination questions - not the answers - over, say, the last 5 or 6 sittings to see what areas of the syllabus the examiner appears interested in examining. This comment particularly applies to the Section A questions. Don’t let your tutor do this for you - do it yourself and really get to know the exam.

o Once you have identified the ‘core’ areas of the syllabus, start to get to know the basic bits of these areas. Let me give one example by way of illustration. Suppose that you identify that ‘project appraisal’ is frequently examined - either of a domestic project or an overseas project, and either using NPV or APV. Therefore set about knowing how to:

 Sort out relevant from irrelevant project cash flows
 Calculate after tax cash flows, including the question of how many capital allowances to calculate and whether or not a balancing charge or allowance should be included
 How to handle inflation, including do I use a real cash flow and real discount rate approach or money cash flow and money discount rate approach, how to identify/calculate real and money cash flows and real and money discount rates.
 How to handle working capital
 How to forecast future exchange rates, (for and FDI), using PPPT
 Know when you should use the WACC and when you should use a risk-adjusted WACC as the NPV discount rate
 Know how to calculate a ‘base-case discount rate’ for an APV analysis.
 Know how to calculate the PV of the 'standard' APV financing side-effects: finance issue costs, tax-relief on interest and the benefits of a cheap loan.

o Get to grips with the management of your time in the exam. The first thing here is to recognise the fundamental difference between Section A questions and Section B questions. With each Section B question that you answer, you have 25 minutes to say and do what you can and so answer the question.

However, with Section A questions your task is not to answer the 40 mark question in the 65 minutes available. Instead, your task is to do enough in 65 minutes to pick up 20+ marks, (a passing percentage). Similarly with the 30 mark question, you have 55 minutes to do enough to pick up 15+ marks. Candidates continually complain that the Section A questions cannot be completed in the time available. However this complaint misses the key point: the Section A questions are not designed to be completed in the time available - they are designed so that a reasonably able candidate can pick up a passing percentage of the marks in the time available.

• The other important point concerning time management is the management of your time within the 55 and 65 minute framework of the Section A questions. In this respect discursive questions should be allocated 1 minute for each mark they are assigned and the balance of the available time should then be devoted to getting as far as you can with the numerical parts of the question. If Question 1 from December 2004 is used to illustrate this point, (look it up for yourself), then of the 65 minutes available, eight minutes should have been allocated to answering part (a) – a discussion question - and nine minutes allocated to writing the ‘report’ in part (b) in which you are asked to discuss ‘other financial and non-financial factors, including real options’. That then leaves you [65 – 17 =] 48 minutes to get as far as you can with the APV analysis.

• Perhaps there is one final piece of advice worth giving. I believe that candidates spend far too much time looking at the answers to questions, and far too little time looking at the questions themselves. Thus they become expert in auditing answers - and so forget the fact that in the exam, you don’t get the answers to audit - you get the questions to answer. The message here is simple. When looking at the examiner’s answers, it is not important to understand every little bit of the answer, so don’t go through the answers word by word, line by line, as some students do - just make sure that you understand the 3 or 4 main points made in answer to a discursive question and you understand the general approach used to putting together the numerical analysis. Relax - remember you don’t have to get 100% of the marks to pass the paper!

Steve Lumby is a lecturer at London College of Accountancy

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
inview that only about 40++% passed for this paper, my advice is that you do not need to be the person who scored the top result but what you need to do is to be among the 40++% who passed. With a lot of determination and consistency in revising all the question i think you could definately achieve your aim of passing acca within a short period of time.

More tips from passmagazine...

2005-11-13T07:29:00.000+08:00

PAPER 3.6
Advanced Stage Corporate Reporting
LVMT
• Consolidated profit and loss account including adjustments for disposals and deemed disposals; also goodwill impairment calculation
• Foreign group implementing FRS 23/IAS 21
• Financial reporting in hyper-inflationary economy (FRS 24/IAS 29) and events after the balance sheet date (FRS 21/IAS10)
• Earnings per share (FRS 22)
• Joint ventures and associates (FRS 9/IAS28 & IAS31)
• A combination of different standards in one question possibly involving FRS 21 (IAS 10) OFR, corporate governance and environmental reporting

PAPER 2.5
Financial Reporting
LVMT
• Consolidated financial statements
• Preparing the consolidated profit and loss account/income statement and the consolidated balance sheet
• Published financial statements of a limited company - presentation in accordance with accounting standards and statutory formats with adjustments involving the application of various accounting / financial reporting standards
• Cash flow statement: Presentation in accordance with FRS 1/IAS7
• Interpretation of financial statements ratio analysis and assessing financial performance
• Tangible and intangible non-current assets, goodwill and impairment of assets provisions

• Revenue recognition; recognition of the substance of a transaction: application of the ASB’s Statement of Principles/IASB’s Framework and other relevant accounting standards and concepts.

PAPER 2.6
Audit and Internal Review
LVMT
• Corporate governance (provisions of the Combined Code and the rational for there being provisions of corporate governance)
• Audit committee (what functions an audit committee should have and what advantages a company would have as a result of the establishment of such a committee)
• Internal controls
• Internal audit
• Risk (identify the elements of risk present when an audit is taking place)

PAPER 2.1
Information Systems
LVMT

• Cases are meant to test the candidate's ability to handle more pragmatic issues applying his/her theoretical ideas acquired in the classroom

• Cases would always require the candidate to assume himself in the case to be able to answer the question as required by the examiner

• Most case questions have at least some amount of clues embedded in them and that calls for careful reading to know the mind of the examiner

• Each paragraph in most cases are very vital since they carry different set of information

• Some of the answers the examiner requires from the candidate would be such that he/she would have to think outside the case.

important accouncement for those who went to SHU

2005-11-08T21:32:00.000+08:00

Dear all,

for those who went to SHU,
Mr David Kyle is meeting all this friday 11 November 4.30pm at room R001

message from Ms Geh
Course Coordinator of AFA

ACCA Exam Tips December 05 Part 2 from ftc

2005-11-06T12:55:00.000+08:00

2.1

Managing Information Systems

Business strategy and IS/IT strategy
Trends in IT
Outsourcing
Recharging IS/IT costs
Legacy systems
Projects: quality plans; slippage

Designing Information Systems

Systems development methodologies (Student Accountant article August 2005)
Data flow diagram; business event model
External design: data input
Software: packages v bespoke
Prototyping, CASE and 4GL

Evaluating Information Systems

Security: physical security; passwords; validation; encryption
Quality management, quality assurance, quality control; V-model
Changeover methods
Metrics (Student Accountant article February 2005)
Maintenance

2.4
Budgeting (to include cash budgets, maybe forecasting)
Costing systems (Absorption, ABC, Marginal, throughput)
Working Capital Management (possibly Debtors and/or overtrading)
Investment Appraisal; NPV to include tax and inflation, other methods of appraisal and possibly capital rationing
Gearing, ratios (ROCE, ROE) and multiple objectives

2.5 INT
CBS and CIS
Published accounts,EPS ?(maybe normal IS and BS)
Interps (but don’t neglect cashflow)
IAS 12 (FRS 112)
IAS 17 (FRS 117)
IAS 36 (FRS 136)
IAS 18 (FRS 118)

2.6 INT
Ethics / New audit appointment
Internal Control Objectives / Procedures for a given company
Substantive Testing of Inventory (Stock) or Receivables (Debtors)
Internal Audit outsourcing
Audit Report scenarios
Practical Audit Planning
Computer Assisted Audit Techniques

ACCA Exam Tips December 05 Part 3 from FTC

2005-11-06T12:50:00.000+08:00

3.1 INT
Q1. Case Study - Advanced Auditing - Risk Assessment and Audit Strategy.
Q2. Case Study - Assurance Services - Corporate Social Responsibility Reporting.
Q3. Scenario Question - Accounting Treatments and Audit Evidence - 3 scenarios.
Q4. Audit Reporting - Emphasis of Matters treatments.
Q5. Professional and Ethical matters.
Q6. Current Issues - Implications of IFRSs or Auditors' liability

3.3
Contribution based decision-making
Practical aspects of pricing policy
Performance evaluation – a question based around the examiner’s article dated 5 Sept 2005 – Pyramids and Pitfalls of Performance Measurement
The strategic framework
The learning effect (learning curve)

3.4
Soft systems methodologies – this topic has been examined on a number of occasions and the theory as well as the development of practical questions are required
MacFarlan’s Applications Portfolio – an important management model, an understanding of its application to scenario is a possibility for this sitting
Strategy –application of an IS/IT/IM strategy in the context of a scenario
Porters 3 generic strategies in relation to the development of e-commerce systems or the Internet
Knowledge management – problems of knowledge sharing and solutions within a business context – perhaps relating to knowledge and data workers
Lewins model and managing change – the application of the model and how problems can be reduced in relation to policies which address behaviour.
Reasons for the development of strategy and alignment issues – core topic area – yet to examine the reasons for the development of an IS strategy – alignment issues could be linked to one of the above models g value chain
Globalisation – issues in relation to the setting up of a global organisation with the application of e-commerce

3.5
Current position analysis
Ethics
Marketing
Strategic Options
Balanced Scorecard and multidimensional performance measures The role of the accountant in strategic decision making (see the examiner's article in the September addition of student accountant)

3.6 INT
Preparation of a group income statement with either disposal or foreign subsidiary or both! - (though it could be a balance sheet (again) or a cash flow
EPS
Financial instruments
International issues
Reporting of non financial performance e.g. Corporate Social Responsibility, sustainability reporting

3.7

Section A:
Risk management: Currency Risk / Interest rate risk
Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment.
Company Valuation: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.
WACC or Risk adjusted WACC calculation within the context of a standard investment appraisal question. However risk adjusted WACC could also be examined within the context of traditional gearing.
Management Buy Outs: Including the review of an existing finance package. Together with a discussion of the advantages and disadvantages of the package.

Section B:
Dividend Policy
Term Structure of Interest rate: possible linked to the calculation of the market value of debt.
International economics – I.M.F., Treasury Management. Balance of payments deficits.
Control of foreign subsidiaries,
Economic Value Added – EVA

new examiner article for paper 2.3 and 3.2 mys

2005-11-05T15:06:00.000+08:00

the taxation of trusts and trust beneficiaries

there is a new examiner article from Mr Richard Thornton and it might be one of the topics which would appear in the up coming dec sitting examination for paper 3.2 mys.

so i suggest please familiarised yourself with this type of question and it might be your saviour question.

exam notes for Dec 2005 sitting

2005-11-02T00:11:00.000+08:00

December 2005 exam notes

please take note of the Dec 2005 exam note which is published in the Oct edition of student accountant which you might have received by now.

there are some changes towards the accounting standards and please be aware that the MASB are no longer being named MASB 1,2,3 etc...they had been changed to FRS 1,2,3 etc...with effect from this sitting.

exam guidance for paper 3.2 MYS

2005-11-01T23:27:00.000+08:00

Tax computation for individual
§ Resident status
§ 60 days test
§ employee benefit (share option)
§ joint assessment + income splitting between Husband and wife (relief and rebate)
§ settlement
– bankruptcy protection
- assests protection
§ Comparison of self assessment (individual Vs company)

P/s please pay attention to the examiner earlier article on resident status and individual computation. it's a must question for the exam.

RPGT
§ RPC
§ PARA 17 1a 1b 1c
§ Para 3(b)
§ Private residenct exemption

P/s this area has not had a question since the last 3 sittings, there might be one or two question in the area of RPGT or even none of the question like the previous sitting. Anyway, it's an area that you could not miss out for the coming tax exam.

Investment incentives
§ Electronic trading
§ Venture capital company
§ R&D
§ MSC company (pioneer vs non pionner status
§ approved food production

P/s tax incentive has always been the examiner's favourite area. Pay attention to those incentive that you should know by now and those which are newly gazeted.

Tax planning for company
§ S140 anti avoidance
§ Tax audit / investigation
§ Tax evasion Vs tax avoidance
§ Stamp duty

tax planning seems to be a topic which will always appear in the exam, however the marks allocated for those question are not very significant. It would help that you possess the basic tax planning knowledge to get a pass mark in the exam.

Specialist Industry / organisation
§ Property developer
§ Trade association
§ Co-operation

these area would be the area that you might wanna have a glance on it in order to score some points just in case that a question comes out on the topics stated above and you have no option than to choose it.

Islamic finance
§ BBA vs Ijara (HP vs leasing)
§ Treatment of zakat
§ Al – mud and Al wadiah

this is an area that you need to know for knowledge. there has been question on islamic finance and also the tax treatment for islamic finance in previous sitting however, it seems to be a rare question in the current exam. However it would also be a plus point to know some of the islamic financial instrument.

exam guidance from BPP ~ paper 3.7

2005-10-30T15:34:00.000+08:00

ACCA Paper 3.7 Strategic Financial Management
June 2005

Section A
Question 1

Question 1 my feature a question on mergers & acquisitions. This could include valuations based on several techniques as well as changes in shareholder wealth post-merger.
Q34 Oakton, Q35 Minprice

Question 2

Question 2 could revolve around interest rate management, specifically hedging. Q56 Projections, Q58 PZP

Section B

Subjects likely to feature include:

Adjusted Present Value - Q32 Strayer
International Financing - Q61 Trade Blocs, Q62 IMF, Q63 Beela
Dividend Policy - Q76 Serty, Q77 Tigger
Corporate Objectives - Q1 Stakeholders, Q2 International Corporate Governance

exam guidance from BPP ~ paper 3.6 (Int)

2005-10-30T15:30:00.000+08:00

ACCA Paper 3.6 Advanced Corporate Reporting
December 2005

Section A

The section A question can be on any of the traditional higher-level group accounting topics that are not examinable in paper 2.5. Complex group structures, disposals of subsidiaries or a foreign subsidiary appear to be the most likely topics for this sitting.
The question often includes an adjustment for 4 or 5 marks on another area such as pensions.
X Group, Wright, XY and AG*

Section B

Section B questions tend to range over a number of topics and may include:

International reconciliations, the continuing attempts to bring about international harmonisation and the effect on a company's accounts of applying IFRS. IFRS 1 on First-time Adoption of IFRS has already been examined but could reappear due to its topicality.

Mixed questions can include a wide range of new and longer-established areas of accounting. Issues relating to recognition and impairment of tangible and intangible assets have been a recurring theme along with provisions, deferred tax and retirement benefits.

Accounting for financial instruments could be tested

Performance and valuation measures and how these are affected by accounting policies often appear in the ACR exam.
Impairment of assets, Finaleyes, Retirement Benefits, Vacs, Low Paints (Q2 within Mock Exam 2 in the UK kit), AX (INT kit only), Pailing (INT kit only), Inventure (INT kit only), FRS 26* (UK only), Stateside (UK kit only), Desolve (UK kit only), Q3 Mock Exam 2 (Cohort)

A discussion question looking at current developments in corporate reporting. Social and environmental reporting can appear here as well as business ethics, and reporting on the internet.
Glowball, Mineral

Relevant articles

Useful articles
IAS 39, 17 May 2005
IAS 39 19 May 2005
First-time adoption of International Financial Reporting Standards, 4 January 2005
Improving standards, 23 July 2004
Look out for other articles on the website in the months leading up to the exam.

exam guidance from BPP ~ paper 3.5

2005-10-30T12:30:00.000+08:00

ACCA Paper 3.5 Strategic Business Planning and Development
December 2005

Section A

Always difficult to predict the subject matter of the case scenario, and in last December it was rather unusually based around the control and management relationships within a large group structure of a manufacturing company. Therefore this time it might be something less complex in structure and based on the service sector.

Areas that could be included within the requirements could include

A discussion of the relative merits of different ways of making strategy
Stakeholder analysis and objective setting
Application of strategic analysis models
Evaluation of strategic objectives, using the numbers included
Marketing issues
52 World-Wide Agricultural, 51 Bethesda Heights, and 50 Playwell.

Section B

Marketing, including new product development. In part suggested by the recent article but also due the lack of marketing in the December 2004 exam.
24 Westport University, 26 Karaoke, 27 Product Launch, and 34 Sports Centre

Change management. This is feasible this time because it is an important subject, which has been absent for the past few sittings.
20 Apex Culture, and 49 Lionel Cartwright.

Globalisation strategy. The strategic development of global businesses was very popular when the paper was first introduced. It remains relevant and could be due another appearance.
41 Excalibur Sportswear, 42 Global Marketing, 43 Clothing Supply Company and 48 ALG Industries

Ethics and corporate social responsibility. With all of the talk (and recent cases) of corporate scandal ethical behaviour is a very topical area of the syllabus
16 Digwell, 17 Large Financial Services Company, and 18 Acquisition

Relevant Articles
The role of the accountant in new product development
January 2005 another two articles Performance measures to support competitive advantage (11/8/05)
E-commerce by Jim Stone (17/05/05)

exam guidance from BPP ~ paper 3.4

2005-10-30T12:27:00.000+08:00

ACCA Paper 3.4 Business Information Management
Dec 2005

Section A

The examiner tends to provide fairly lengthy case studies, which provide information about the business strategy, the IT history to date and the current situation.
As you are likely to be dealing with an organisation that needs to make decisions about its IT systems and strategies, questions are often based on strategic models and approaches from the syllabus.

Questions in the December 2005 exam could ask you to analyse an organisation's current position regarding its IT, perhaps using a model such as Porter's value chain (Q11). In order to tackle this type of question, you need to be able to recognise the relevant business strategy in order to make appropriate IT suggestions. Questions 51 and 52 are excellent ones to practice on this.

A key area that all students must focus on is how to develop a business case for Information Technology. IT facilitates business decisions, and the examiner is likely to ask you to analyse the key business issues. A key model to understand and use is ?Where We Are, Where We Want to Be, Going to Get There?, and it would be useful to review the first BIM exam paper set.

There could also be questions asking you to improve a project or development that is
experiencing problems (Q26, Q28)

Another key area to review would be the human and social issues relating to IT development, and the syllabus lists several change management theories, such as Lewin, which have yet to be examined.

Exam technique is extremely important in this paper, so working through as many case
studies as possible is to be advised. Questions 64-66 are the questions from the examiner's pilot paper.

Also be aware of articles relevant to your paper written near to the time of the exam. Before the June 2005 sitting the examiner wrote an article on Legacy Systems, which then appeared on the exam as a 12 mark question, in section A.

Section B

Section B questions could come from anywhere in the syllabus, and there are often questions which focus on one particular theory. The examiner also uses these questions to get candidates to bring in 'real-life' examples, to illustrate theories, so be sure to have at your fingertips some examples which you can use, either from your own experience, or perhaps from other exam scenarios and questions which you have used. There is also usually one question with a mini-scenario that can be a good one to choose, as you have a context to work with. The examiner also uses section B to test knowledge about specific types of technology.

Key theories that need to be understood are those of Nolan, Parsons, Porter, Earl and
Zuboff, and reviewing past BIM papers can be extremely helpful to see the style of questions on these areas.

Key areas to cover in depth are as follows:

E-commerce is an area that usually appears on information papers (Q8)
The human impact of IT has not yet been examined extensively (Q31 &32)
Knowledge management is an area that may be prominent in future exams (Q5)

ACCA paper 3.4
Business Information Management
Relevant Articles

The adaptability of Strategic Models June 2005
E-Commerce May 2005
Legacy Information Systems March 2005
Big Brother July 2004
Soft Sytems Jan 2004
The 3 C's March 2003
IS Strategy Dec 2002
How to pass Paper 3.4

exam guidance from BPP ~ paper 3.3

2005-10-30T12:24:00.000+08:00

ACCA Paper 3.3 Performance Management
December 2005

General: The exam is often time pressured and careful planning is required to ensure marks are maximised in time allowed. The examiner has examined some of the key topic areas in a very practical way but this has often looked unusually challenging on first read through.

Section A

To date the large question in this section has contained some elements of budgeting (short term planning). This will be heavily numerical with a small written element.
55 Fork Lift Trucks, 61 Privmed, 62 Motor Breakdown Services

The shorter question has often tackled some element of performance measurement with the majority of the marks being for numerical analysis.
45 Eatwell Restaurant, 41 Management Accounting and the Public Sector

Section B

There is usually a high discursive element in this section with 2 questions being wholly or almost wholly discursive. If it has not made an appearance in Section A performance measurement will make an appearance here.

Many of the modern management and management accounting techniques have been examined here;
12 Costs and Quality, 54 Activity Based Budgeting

Numerical topics do still appear in this area, topics that have not appeared for a little while include transfer pricing (which can also include qualitative issues) and uncertainty in decision-making.
75 Tannadens Division, 33 UKCOM

Relevant Articles

The examiner has often used his most recent article to set a question. Look out for any articles in the second half of the year.

exam guidance from BPP ~ paper 3.1 (Int)

2005-10-30T09:35:00.000+08:00

ACCA Paper 3.1 Audit and Assurance Services
December 2005

Section A

Questions 1 and 2

Scenario questions in the context of audit risk/business risk.

May also include:

Control suggestion and/or evaluation
Audit evidence on Paper 2.5 accounting areas (see Q3)
Group audit issues (including audit work on fair values)
Planning/practice management/quality control issues
Assurance services
14 Signet, 24 Alakazam, 25 Amber Pan Europe, 44 Azure, Q2 Mock 1 Imperiol

Question 3

Audit evidence. Comment on the matters you would consider and the audit evidence you
would expect to find as audit manager conducting a review of audit files.
Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:
Earnings per share
Borrowing costs
Revenue recognition
Standard costing
Impairments
Deferred tax
Discontinued operations
Intangible assets
Related party disclosures
34 Aspersion, 35 Phoenix, 37 Alphasweeter, Q3 Mock 2 Visean

Section B

Question 4
Part (a): Any syllabus area.
Part (b): A related question on reporting.
53 Capri, 54 Arid, Q4 Mock 1 Cinnabar

Question 5
Ethics, professional and quality control issues scenario question.
3 Aventura, 5 Isthmus, Q5 Mock 2 Corundum

Question 6
Discussion question on current issues, e.g:
Money laundering (make sure you read the examiner's recent article as likely to be examined!)
International convergence
Audit exemption for small companies
Risk-based auditing
Corporate governance
Laws and regulations
1 Assurance provision, 6 Convergence, 51 Environmental issues

Relevant Articles

The examiner, Kim Smith, has written many articles and expects you to have read them and know them. She often comments that students fail for not having read the articles explaining how to tackle questions.

Read as many as you can, particularly the following:

Money laundering, 4 February 2005
'Technique in auditing questions', 4 September 2001
'Technique in auditing questions ? part 2', 17 October 2001
'Tackling the 'Discussion' question', 1 November 2001
'Professional ethics ? a kloser look', 30 April 2003
'Divided opinion' (auditors' reports), 5 November 2002
'Rest assured' (assurance), 1 June 2001
'Audit and assurance services', 27 July 2001

exam guidance from BPP ~ paper 2.6 (Int)

2005-10-30T09:21:00.000+08:00

ACCA Paper 2.6 Audit & Internal Review
December 2005

The following list is an idea of the type of questions that may come up in the coming exam. The list highlights areas of the syllabus and how they may well be tested.

Please note that there was a new examiner in June 2005

Internal audit/ Internal review
Following the new examiner's recent article on how the internal audit department can assist in corporate governance and risk management, this was tested in June 2005. Note that in addition to a specific question on internal audit or reviews conducted by internal or external staff, questions could be in the form of a report to management on control weaknesses with recommendations, very similar in substance to that produced by an external auditor (see Systems and Controls below)
Q7 Internal Auditors, Q8 Roxy Hotels)

Substantive testing
This will be in the exam, but what will be tested?
In June 2005 sales and tangible assets were tested.
In December 2004 substantive testing of payroll balances was tested (Q4).
In June 2004 inventories (stock) (Q3) and payables (creditors) and accruals (Q4) came up.
In December 2003 payroll audit was tested (Q2).
In June 2003, Inventories (stock) (Q2) and provisions were tested (Q3).
In the December 2002 exam, payables (creditors) (Q3) and inventories (stock) were tested (Q5).
In June 2002 cash was tested (Q2) and
In December 2001 receivables (debtors) were tested (Q4).
That would appear to leave non-current (fixed) assets, bank/cash and receivables (debtors) as likely candidates for examination this time round.
Q38 Springfield Nurseries, Q43 Goodfoot & Q45 Villawood Computers

Systems and controls
Again this topic will be included in the exam in some format.
In June 2005 Q3 was centred around a complex computer system. The examiner has warned that computers will be expected to feature in scenarios.
In December 2004 Q3 risks from a scenario had to be spotted, and controls recommended.
In June 2004, they came up in the context of outsourced catering and payroll (Q5). In December 2003 controls over payroll were tested in Q2 and Q1 included controls over business risks in the areas of human resources, procurement and marketing.
In June 2003, controls over non-current (fixed) assets were tested (Q6).
In the December 2002 exam the sales system was tested (Q2).
In June 2002 the cash system was tested (Q2) and in December 2001 Purchases/ capital expenditure were tested (Q3).
Any of these could come up again: the purchases/payables and sales/receivables systems looking the most likely.
Q32 Cosmo & Q27 Internal Control Systems

Planning and risk assessment (from a scenario)
risk in one form or another comes up at every sitting.
It is one of the key stages of the audit, but can also be examined in the context of a company's business risk as it was in June 2004.
In June 2005 Q1 was a straightforward question looking for risks from a simple scenario.
In December 2004, Q2 was centred around planning and the information you require, and Q1 was about spotting the risks of fraud and error.
Q17 EWheels & Q18 Nepco

Professional ethics
This is a core area not examined at the last 3 sittings. It is still a topical issue with all of the recent corporate collapses bringing the independence and professionalism of their advisors into question.
Recently, confidentiality came up in December 2003 (Q6), conflicts of interest in June 2003 (Q3) and objectivity in December 2002 (Q1).
Any independence issues would be ripe for examination again at this sitting.
Q10 Billington Travel & Q11 Manly

Audit/ Assurance Reports
This is a very important area of the syllabus, it is deliverable from the end of all assurance engagements. You also need to be aware of the differences between internal audit reports/ external audit reports and other assurance reports such as review reports. It was tested in June 2005 as an unpopular optional question asking for errors in a given audit report.
It has been tested in December 2003 (Q3 b and c), June 2003 (Q3c and Q5), June 2002 (Q3b) and December 2001 (Q5), but not in the last few sittings.
Q54 Audit and Review Reports, Q55 Cremorne

Parts of questions
The following topics could form discrete parts of questions at this sitting:
fraud,
management representations,
audit regulation,
materiality,
e-technology (see article below)
so make sure you are up to speed on these areas.

Relevant Articles
The following articles can be found in the Student Accountant magazine (or ACCA website)

The regulatory environment, 4 January 2005
Audit risk in a brave new world, 30 September 2004
Confirmation as audit evidence, 28 October 2003
Electronic technology and the auditor, 25 June 2003
Service organisations, 26 March 2003
Internal audit and review reports, 29 January 2003
Corporate governance in the 21st century, 30 September 2002
The independence of accountants, 10 June 2002.
The role of internal audit in risk management, 1 March 2002.
Technique in auditing questions,4 September 2001
Audit and internal review, 1 June 2001

exam guidance from BPP ~ paper 2.5 (Int)

2005-10-29T23:28:00.001+08:00

ACCA paper 2.5 - Part 2 - Financial Reporting
December 2005 Exam Tips

Section A

Question 1

Section A will comprise one compulsory question that will examine group accounting.
Group accounting is a core area and this question could ask you to produce a consolidated balance sheet and/or income statement (profit & loss account) with one subsidiary and possibly an associate or joint venture.

It usually includes adjustments for items such as:
fair value
unrealised profit on inventories (stock) or tangible assets
cancellation of intragroup trading
goods/cash in transit
pre-acquisition dividends.

Part (b) of the question usually includes a related discussion element.

2005 P&R Kit Questions:
Mock Exam 1 Q1 (Horsefield),
Mock Exam 2 Q1 (Hydrate), Holding, Augment, Hanford.

Section B

Section B will comprise four questions out of which candidates should select three questions. The examiner, Steve Scott has stated that the style of the paper will remain fairly static:

Question 2

Question 2 will be preparation/restatement of an income statement (profit & loss account) and/or balance sheet. This question normally requires adjustments for depreciation, tax and dividends. Other adjustments may relate to debt factoring or other substance over form issues, finance leases, financial/capital instruments, share issues and inventory (stock) valuation. There may be further disclosure requirements re discontinued operations or an earnings per share calculation.

2005 P&R Kit Questions:
Mock Exam 1 Q2 (Deltoid),
Mock Exam 2 Q2 (Bloomsbury), Larcher, Telenorth.

Question 3

Question 3 will be a written question examining theoretical/conceptual areas or accounting standards. This could be on tangible or intangible assets, impairments, accounting policies or leases with reference to the Framework for the Preparation and Presentation of Financial Statements (Statement of Principles).

2005 P&R Kit Questions:
Broadoak ('FRS 15' in the UK Variant kit),
Q3 Mock Exam 2 (Atkins).

Question 4

Question 4 is likely to examine interpretation and/or cash flow statements. There could also be a discursive part on why, for example, related party or discontinued operations disclosures are useful.

2005 P&R Kit Questions:
Charmer, Q4 Mock Exam 1 (Judicious),
Q4 Mock Exam 2 (Nedberg).

Question 5

Question 5 has no specified format or content and will cover other areas of the syllabus. The examiner frequently includes a 'mixed bag' question, which examines three or four different accounting standards.

Possibilities this sitting include:
deferred tax, construction contracts,
segment reporting,
events after the balance sheet date,
governments grants,
financial/capital instruments,
discontinued operations or substance over form issues.

2005 P&R Kit Questions:
Multiplex,
Deferred tax,
Diversity,
Myriad,
Dawes,
Jedders.

Relevant Articles (www.accaglobal.com/students)

How to approach performance appraisal questions 28 April 2004

First time adoption of International Financial Reporting Standards 4 January 2005

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn?t mean it won?t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

exam guidance from BPP

2005-10-29T23:28:00.000+08:00

ACCA Paper 2.4 Financial Management and Control
December 2005

Section A

Cash management (Q55 PCB PLC and Q56 DELCARS PLC)
Cash flow forecasts (Q88 (a) JACK GEEP, Q92 AMBER PLC)
Sources of equity (Q62 BURNSALL, Q63 NEWSAM)
Ratio analysis and performance management (Q52 KESWICK PLC)

Note:the more complete case scenarios you attempt the better prepared you will be.
The Case scenarios recommended (Q87-97)

Section B

In section B of the exam there will be two questions on Financial Management (one of which will be on investment appraisal). The other two questions will be on areas from the Management Accounting section of the syllabus.

Net present value (NPV) calculations (Q70, Q80 BENLAND, 87 WATER SUPPLIES LTD 93 SPENDER CONSTRUCTION)
Sensitivity analysis (Q77 BURLEY PLC)
Capital Rationing (Q82 FILTREX, Q83 PI)
Dividend policy (Q51 PHOENIX, Q61 FOOD RETAILERS, Q66 NETHERBY PLC)
Budgeting (Q1 MANAGEMENT ACCOUNTING, Q2 COST AND MANAGEMENT ACCOUNTING, Q96 KWAN TONG)

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn't mean it won't feature this time. Use the guide as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Guidance for paper 3.5 and 3.7 for the coming acca exam.

2005-10-29T22:46:00.000+08:00

3.5
1)rational or ermergent approach
2)strategic position
3)strategic option
4)role of accountant in the process of innovation
5)IT for competitive adv
6)ethic dillemme
7)ROI -ADV + DIS
8)balanced scorecard
9)marketing -international
10)attack defence strategy

3.7
1)foreign exchange risk
2)black scoled model
3)delta hedge
4)ratio + EVA
5)FDI +NPV
6)dividend policy
7)corporate governance
8)WACC + CAPM

this is a guidance i took from my friend's blog who is taking acca core paper this sitting...

prepared and look out for more up date on guidance for various paper for this coming december sitting.

CIMA tips from the website

2005-10-26T23:49:00.000+08:00

CIMA exam tips...right here 07/10/2005

You can rely on Pass to come up with comprehensive exam tips from some of the best lecturers in the business

We have teamed up with our chums at BPP, FTC, LVMT and Reed Business School to bring you the hottest CIMA tips in town for the second sitting of the new syllabus.
WARNING: HANDLE WITH CARE
A quick guide to using our tips
• Revise well before use
• Revise further after use
• Keep out of reach of those without good syllabus coverage
• Keep away from question spotting
• Contains great tips

For the November 2005 exam it is a little easier than in May to try and predict likely topics due to the fact it is now the second sitting.
Examiners try to avoid question spotting. Just because a question featured under the old syllabus or in May, it doesn’t mean it won’t feature this time. Use our tips to guide your revision but remember other than the examiner nobody knows for sure what will appear in the exam.

Paper 1
Management Accounting Performance Evaluation – BPP
Section A
• Costing systems
• Modern business environment and costing
• Standard costing and variance analysis
• Budgeting
• Forecasting techniques
• Performance appraisal
• Transfer pricing

Section B

The questions in section B may include the following areas:
• Modern costing systems - ABC is the most likely (make sure you know the advantages and disadvantages as well as being able to get through calculations fairly quickly)
• Budgeting systems eg traditional/incremental budgeting v zero-based budgeting
• Responsibility centres - ratio analysis, ROI and RI
• Transfer pricing

Section C
• Activity based costing and other aspects of world class manufacturing
• Budgeting

Paper 2
Management Accounting Decision Management – BPP
Section A
* Learning curves
* Optimal pricing

Section B
* Modern management accounting techniques (possibly in section C)
* Pricing
* Investment appraisal
* Uncertainty

Section C
* Pricing
* NPV calculations with sensitivity

Paper 3
Management Accounting Risk and Control Strategy – FTC
Due to the integrated nature of the compulsory question, and the diverse balance of topics covered in the Pilot paper and the May 2005 exam, these tips should be taken with much caution.
• Risk - measuring/internal controls and Turnbull/risk management strategy
• Audit -audit types, eg VFM
• Control systems - systems theory/feedback control/modern developments
• Financial risk - computations on currency risk/discussion regarding prediction of exchange rates (PPPT/IRPT)
• Information strategy - ERPS/basic theory

Paper 4
Organisational Management and Information Systems – LVMT
Section A
* Design documentation techniques (the data flow diagrams, the entity relationship model and the entity life history
* Systems analysis (functional and physical requirement for a new system, invitation to tender, in-house verses purchased systems
* Product life cycle and the 4Ps
* Human resource management aspects (planning human resources and human resource cycle)

Section B
* Operations management. Emphases should be placed on (the supply chain management and quality in organisation).
* Management theories (especially the classical theorist, and the human relations movement)
* Change management.

Section C
• Change management
• * Operations management (with particular reference to JIT, MRPOPT)
• Marketing aspects

Paper 5
Integrated Management - Reed Business School
Section A:
* A thorough knowledge of short definitions is essential

Section B:
• Process of strategy formulation and
• The tools used for strategic analysis
• Project life cycle
• The skills required of a project manager
• The disciplinary section of the learning outcomes

Candidates will also need to be familiar with and identify structural and leadership issues that will be faced in managing a project team; and evaluate through selected review and audit, the learning outcomes from a pr

Section C:
• The purpose and principles of good corporate governance
• Evaluation of competitive situations (and application of this knowledge to an organisation)
• The importance of national cultures on management style (globalization)
• Methods of conducting research and gathering data as part of the managerial process

Paper 6
Management Accounting Business Strategy – LVMT
Section A
* Aspects of the role of mission statement and shareholder value analysis
* Strategic Options areas
* The calculation of NPV

Section B
• Porter’s Diamond
• Value chain analysis or M’s model
• McFarlan guide
* IT impact on strategies

Paper 7
Financial Accounting and Tax Principles – FTC
The nature of this paper you must have a good basic understanding of all topics. This is because 80% of the paper (section A and B) is compulsory.
Section A
All areas of the syllabus, but principles of business taxation are likely to be tested here.

Section B
All areas of the syllabus.
* Individual accounting standards, including NCA, PBSE, provisions, leases, deferred tax, construction contracts
* Working capital

Section C
* Preparation of all financial statements, particularly the balance sheet, the income statement and the cash flow statement

Paper 8
Financial Analysis – BPP

Section A
The questions will be broad syllabus coverage
• Profit on disposal
* Cash received from associates
* Goodwill
* Fair values

Section B
• Short consolidated income statement or balance sheet
• Goodwill/retained earnings calculation for a group including adjustments
• Inflation accounting/ asset valuation explanation/ comparison
• Pensions accounting
• Substance over form scenarios, such as debt factoring or sale and repurchase agreements
• Explanation of a US GAAP reconciliation
• Recognition, measurement and/or classification of financial instruments
• Earnings per share calculation and explanation (basic and/or diluted)
• Ratio calculation and interpretation

Section C

• Group financial statements eg complex group balance sheet and/or income statement, group income statement with disposal, group cash flow statement, foreign subsidiary
• Ratio calculations, perhaps in the context of segment analysis

Paper 9
Management Accounting Financial Strategy – FTC
• WACC
• CAPM
• Mergers and acquisitions
• Objectives
• Dividend policy
• NPV
• Treasury

Please note the very latest CIMA tips will be made available online at www.passmagazine so make sure you keep checking our website over the coming days

For further exam advice visit –

FTC --> www.financial-training.com or www.FTC4Success.com

BPP --> www.bpp.com/virtualcampus/cima.
For BPP practice and revision kits, visit www.bpp.com/cima/products

Reed Business School --> www.reed.com

LVMT -->www.lvmt.com

the above are adopted from the article available from pass magazine.

SHU briefing.

2005-10-26T23:25:00.000+08:00

there would be a briefing for those who are interested to further thier study in uk ----> Sheffield Hallam University (SHU)
this briefing 2005 would be conducted by David Kyle.
Date, time and venue are as follows:-

Date: Friday 11 November 2005
Time: 1pm
Venue: DK B

Please help to spread the news to those who are interested.

Career Talk at TARC 2

2005-10-14T23:09:00.000+08:00

The following are the title and date as well as the venue for the career talk at tar.
if you are interested in any of the following just drop by during the stipulated time and venue as follow:-

Business Etiquette
13 October 2005
2-4pm
Function room, Clubhouse

Resume Writing & Attending Interviews Skills
19 October 2005
2-4pm
Function room, Clubhouse

Find Yourself @ PricewaterhouseCoopers
Perspective from TARCians
19 October 2005
11-12.30pm
Function room, Clubhouse

Job Opportunities in Chartered Accountant Firm
20 October 2005
2-3.30pm
Function room, Clubhouse

Public Practice in Small to Medium Sized Firm
21 October 2005
10-11.30pm
Room UA026, Sports Complex

Career Opportunities As An Accountant in Malaysia
21 October 2005
12-1pm
Function room, Clubhouse

A Career in Taxation
21 October 2005
2-3.30pm
Room UA026, Sports Complex

Career Talk at TARC

2005-10-12T20:25:00.000+08:00

Dear Coursemate,

There would be a series of talk during the career day held at TAR College during 19-21 October 2005.
This would be a good opportunity for those who are looking forward to be employed or those who wish to have a change in their working environment, to get contact with your potential employer.

p/s these talks are handled by big 4, small and medium sized firms and
also commercial firms.

further information would be updated when more information is obtained.

this is convo infor for people in Penang

2005-09-25T00:23:00.000+08:00

Dear Affiliate
Congratulations for completing the ACCA examinations!

We are pleased to inform you that the Graduation Ceremony will be held in Penang. The details are given below:

Grand Ballroom, E & O Hotel Penang / 29 October 2005 (Saturday) / 9:00 am to 11:15 am
You will receive your invitation very soon.
Nevertheless, you may print out the attachments and send to us together with the payments soonest possible.
Please feel free to contact me should you require further clarification.

We look forward to seeing you at the forthcoming graduation ceremony!

Best wishes
Francis Lim
Director
Creative District
Official Event Organiser for ACCA 29th Graduation Ceremony

due date for submission for examination registration for Dec 2005 sitting

2005-09-20T23:41:00.000+08:00

dear all,

please be informed that the due date for registration for acca dec 2005 examination is by 15 Oct 2005.
for those who want to submit your registration via bank draft you can courier / hand in your bank draft to acca Malaysia which is located at Wisma Denmark which is near by lrt station Dang Wangi.
for those who which to submit your registration trough acca malaysia, please submit about a week before the due date, to enable them to have ample time for submission.

AccA Nov 2005 Convocation

2005-09-20T23:28:00.000+08:00

Dear Affiliate

Congratulations for completing the ACCA examinations!

We are pleased to inform you that the Graduation Ceremony will be held in Kuala Lumpur. The details are given below:

Dewan Merdeka, Putra World Trade Centre, Kuala Lumpur / 12 November 2005 (Saturday) / 8:00 am to 12:15 pm

You will receive your invitation very soon. Nevertheless, you may print out the attachments and send to us together with the payments soonest possible. The due date for the graduation ceremony has been extended to 15 October 2005.

Please feel free to contact me should you require further clarification.

We look forward to seeing you at the forthcoming graduation ceremony!

Best wishes
Francis Lim
Director
Creative District
Official Event Organiser for ACCA 29th Graduation Ceremony
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
this is taken from the e-mail i've received for the convocation for the coming Nov convocation for those who had became affiliate of ACCA.

FTC launches free online support 13/09/2005

2005-09-16T00:02:00.000+08:00

FTC announces new initiative

FTC has launched a free online student support service aimed at providing all students with access to course information, online booking and qualification-specific resources.

Any student can register for www.FTC4Success.com and obtain instant access to technical quizzes, practical tests, exam tips and commentaries written by FTC’s team of expert tutors. The site also provides technical articles and study support information.

Registering on the website gives students access to discussion boards and through the online booking service; they can enrol, pay for courses and receive instant confirmation.

The college told pass over 2,000 trainees have already registered, with the number set to increase drastically over the coming months.

The www.FTC4Success.com site is now available for ACCA and CIMA students.

AAT, ICAEW, CAT and CFA sections will be added over the coming weeks.

‘This website grants students access to expert guidance and a wide array of study tools to assist them on their paths to success,’ said FTC’s commercial director Karen Hopkins.

‘Now students can be even more efficient and productive with their study time by utilising our online material at their convenience,’ she added.

The registration process is quick and simple – simply visit www.FTC4Success.com, and click on register, and follow the steps.

Students are provided with a login code to use for access to the free study resources, course search facilities, product information relating to preferred location, booking information relating to course dates and details of events and study support sessions in their area.

All FTC students will be provided with their login codes via email or post as standard.

For more information, visit www.FTC4Success.com

taken from passmagazine

September edition of examiner article

2005-09-06T01:03:00.000+08:00

please find the following articles in the September edition of the student accountant

21 years of textbook strategy
Examiner for Paper 3.5 Ralph Bedrock discusses why Exploring Corporate Strategy is Europe's most popular book on strategic management / Relevant to Paper 3.5

The pyramids and pitfalls of performance measurement
Shane Johnson, examiner for Paper 3.3, outlines the issues which are central to the understanding and assessment of performance measurement / Relevant to Paper 3.3

please pay attention to the relevent article since it might be a guide / hint for the up coming sitting.

new examiner article

2005-08-03T00:06:00.000+08:00

the following article had been published in the august student accountant
please take note of it.

Residence and non-residence of individuals
Examiner for Paper 3.2 (MYS) Richard Thornton explains that although the basic rules relating to tax residence in Malaysia have remained the same for many years, some changes have taken place and now alterations to background legislation have placed new emphasis on tax residence / Relevant to Papers 2.3 and 3.2 (MYS)

Performance measures to support competitive advantage
Graham Morgan looks at the success of airlines such as easyJet and Ryanair and examines how the balanced scorecard might be utilised to maintain the low-cost carriers' competitive edge / Relevant to Paper 3.5 and of interest to Papers 3.3 and 3.4

more info on convo

2005-07-13T20:25:00.000+08:00

our convo would be held on the 30 july sat morning session
so for those who would like to attend the convo you should prepare two bank draft
one is RM125 convo fees
and annother one is RM300 gown deposit
made payable to Kolej Tunku Adbul Rahman
the convo fees and the form you should submit to the admin department before 19 july
if you have not received letter from the college,
just go to the admin department and inform them you have not received the convo form.
see you during the convocation

2005-07-09T00:20:00.000+08:00

convo info
it's confirmed that our convo would be on 30 july.
morning session.
our course would not the only course that would be having the convo on 30 july.
so see you guys during the convo la.

2005-07-05T20:43:00.000+08:00

the exam results are out today (tues 5/7).
You can check your results via:
1. college website
2. Exam division
3. SBS notice board

job search skills

2005-06-17T00:09:00.000+08:00

found this page online hope that it would help for you all fresh grad. to look for job.
JOBSEARCHTOOLSSKILLS

Cover letters: types and samples

2005-06-16T23:54:00.000+08:00

The guidelines here apply to both hard copy correspondence and email.
The main difference between email and hard copy correspondence is format:
your signature block (address, etc.) goes below your name in email, while it goes at the top of the page on hard copy. Of course you won't have a handwritten signature on email, but don't forget this on hard copy.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
E-mail in your job search
Use e-mail in your job search when an employer specifically invites or instructs you to do so (on a web site, in verbal conversation, etc.); or let the employer initiate e-mail contact.

Include your e-mail address on your resume and on the address block of your hard-copy letters so employers can initiate e-mail contact with you.

The same rules of hard copy correspondence apply to business e-mail. See guidelines for correspondence in your job search.

An obvious advantage of e-mail is that you can correspond much more quickly and don't need to be concerned with paper quality, envelopes, and postage, as you would with hard copy correspondence.

The speed and convenience of e-mail is an advantage to busy employers as well. The degree to which e-mail is used will depend on the types of employers with whom you are dealing.

Be aware that e-mail is a form of written communication and it creates a written record. Retain copies of the e-mail you send and receive. Don't let the speed and ease of sending e-mail blind you to the fact that you will be judged on what you say and how you say it. E-mail, like other written correspondence, doesn't reveal your tone of voice. Choose your words carefully.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

All cover letters should:
Explain why you are sending a resume.
Don't send a resume without a cover letter.
Don't make the reader guess what you are asking for; be specific:
Do you want a summer internship opportunity, or a permanent position at graduation; are you inquiring about future employment possibilities?

Tell specifically how you learned about the position or the organization —
a flyer posted in your department, a web site, a family friend who works at the organization. It is appropriate to mention the name of someone who suggested that you write.

Convince the reader to look at your resume;
the cover letter will be seen first. Therefore, it must be very well written and targeted to that employer.

Call attention to elements of your background —
education, leadership, experience — that are relevant to a position you are seeking. Be as specific as possible, using examples.

Reflect your attitude, personality, motivation, enthusiasm, and communication skills.

Provide or refer to any information specifically requested in a job advertisement that might not be covered in your resume, such as availability date, or reference to an attached writing sample.

Indicate what you will do to follow-up.
In a letter of application —
applying for an advertised opening — applicants often say something like "I look forward to hearing from you." However, it is better to take the initiative to follow-up, saying something like, "I will contact you in the next two weeks to see if you require any additional information regarding my qualifications."

In a letter of inquiry —
asking about the possibility of an opening — don't assume the employer will contact you. You should say something like, "I will contact you in two weeks to learn more about upcoming employment opportunities with (name of organization)." Then mark your calendar to make the call.

for example of cover letter please refer to the following site

Cover Letter Format Guidelines

TAX CONCEPTS / PRINCIPLES / TECHNICAL TERMS

2005-06-10T22:20:00.000+08:00

the following are tax concepts/principles/technical terms that you have to know for paper 3.2 (mys)
by mr chong (tar)
especially for those who are resitting tax paper.

A

Accrual basis / Receivable basis (of taxing income)

Acceptable ratio certificate method

Anti-avoidance provisions / DGIR's power to disregard or vary transactions

Arm's length principle / transaction at arm's length price

B

Badges of trade

Basic period / Basis year

C

Capital expense / Capital receipts

Current year basis

Compared aggregate

Compared total

Connected persons

Contract payment

Controiled sale / controlled transfer

D

Derived from Malaysia

Disposer's final period

Disposal price deemed equal to acquisition prize.

Divisible income

Distributable income

Double deduction of expenses

Dual -purpose expense

E

Excluded expenditure

Exempt income account

F

Field audit

Foreign source (of income)

Four heads of charity (based on the British Common Law)

Further source

I

Immediate family

In the ordinary / normal course of business

Incurred

Initial expenditure

Initial repair

Interest in suspense account

Isolated transaction

M

Market value

Management & control are exercised in Malaysia in the basis year for a year of assessment

Means Test (for tax investigation)

N

'No gains no loss' treatment

0

Ordinary source

Offshore business activity

Offshore trading activity

Offshore non-trading activity

P

Permanent establishment (of a non-resident person) in Malaysia

Permanent loss (unabsorbed capital allowance / business loss / expenses ...)

Permitted expenses

Preceding year basis (applicable for Labuan offshore companies)

Prescribed establishment & Prescribed services

Principle of Mutuality

Promoted areas

Promoted activity / promoted products

Progress payment method

Percentage of completion method

Pioneer period / tax relief period

Pioneer (business) loss

Q

Qualifying Project (for RA)

R

Real property

Real property company

Receivable basis

Relatives

Remittance basis

Residual expenditure / 'tax written down value)

Revocable settlement

S

Special classes of income

Special purpose asset

Stock in trade (definition & basis of valuation)

T

Tax avoidance / tax evasion

Tax credit under s110 / bilateral credit / unilateral credit

Tax efficient corporate structure & two-tier exempt dividend(s)

Tax haven / tax shelter

Taxable person

Taxable goods

Tax implications / tax treatments / tax consequences

Temporary absence

Total tangible assets (real property company)

Transfer pricing

V

Vehicles of business / means of carrying on a business (sole-trader, partnership or company)

W

Withholding tax(es)

Work in progress (trading stock)

World income scope / wherever derived basis

Wholly and exclusively incurred

last e-mail on information regarding shu from khai nien

2005-06-09T21:25:00.000+08:00

FINAL email to those departing for UK

1. For your information, you dun have to do any x-ray nor medical
checkup prior to your departure to SHU. Medical checkup and x-ray are
only applicable to those who intent to stay longer than 6 mths or
those applying for student visa for a period beyond 6 mths. The batch
of Engineering students who arrived in UK earlier last week updated me
that the imigration officer in UK didn't ask them on any medical
checkup documents nor their health condition. So, DON'T WORRY!

2. Regarding your accommodation matter, those travelling in Turkish
Airlines, please kindly email me the list of your preferred housemates
by 15th June, 2005 if you all need my assistance to do the arrangement
prior to your arrival. Make it a 4 to 8 persons group. As for those
travelling in MAS Airlines, I will pass down a list in the airport or
on the flight for you all to write down your preferred housemates.
However, kindly discuss among yourselves before hand so that
everything could be done in the most efficient manner. If you prefer
to email me your list earlier, you are welcome to do so by 15th June.

3. The PC in SHU library doesn't allow you to download anything from
the web. However, for those who are concerned on whether is there MSN
Messenger in those PC, good news is that those PC in Liverpool John
Moore University has MSN Messenger in it according to those
Engineering students. But, I am not sure about those in SHU. As for
those who would like to use Skype to do internet call, as i have said
you are not allow to download anything, and it is very unlikely that
those PCs there have Skype program. Furthermore, those PCs in SHU are
not equiped with headphone and microphone. Anyone who might use both
the stuff, kindly bring along yours.

4. As for those who would like to purchase 2nd hand stuff, there is a
Sunday 2nd hand selling market in Sheffield whereby you may do so. The
Student Service Department in SHU will guide us to the whereabout of
this market. So, you may visit this market on Sunday after you have
settled down.

5. According to the batch of Engineering students who reached
Liverpool last week, the weather there is a bit cold at the moment,
imagine it as like Genting Highlands especially during the night. So,
do bring along your jacket, sweater and windbreaker (may use it at
nite). Everyone of you including guys please do bring along lotion and
lip gross too as it is dry and cold in UK. If possible, do bring along
some instant mee and Milo too. You can't buy Milo in UK, the closest
substitute is choco drinks. Garlic and onion are very expensive in UK,
so if you need it do bring more. Bring some medicine for fever, flu,
cough and diarhea (in case you can't get use to the food there). Some
items' price list, Engineering students who got there last week
updated me are as follow : 2nd hand cooking pan - GBP5; Pasta -
GBP0.33; Slice Bread per loaf - GBP0.40. You may bring along rice
cooker and other electrical equipment if you want. Many of the
students who went to JMU brought rice cooker along. However, beware of
excess baggage on your return trip.

6. Finally, when you reached UK, if the immigration officer asks you
your objective of coming to UK, juz say firmly that you are here to
STUDY and EUROPE TOUR after your studies. Don't ever say 'may be i
might do this or that.....'. Be firm pls to avoid any unneccessary
trouble. And both STA Travel and MSL Travel have submitted the
students' namelist who are travelling under them. So, SHU will
certainly arrange transportation for all of us from Manchester Airport
to SHU upon our arrival.

Any queries, do email me real soon. Last date for me to check my email
is on 15 June before departing for UK on the 17th. After that, you all may reach me at my hp. 0174799892. Good luck and God bless to those taking core papers next week! See ya in the airport and UK!! Bon Voyage....

Regards
Khai Nien

date and subject for the internal resits

2005-06-08T18:06:00.000+08:00

a quick summary for date and subject for the internal resits
20/6(mon) - SBPD (am)and ACR (pm)
21/6(tue) - AAS and PMT (am), BIM and ATax (pm)
22/6(wed) - SFM (am)
venue :L1 (should be the reading room above canteen two.)
you can refer back to SBS office for more information.

*sorry that the time for sbpd and acr has been misplaced previously.
now already corrected.

mr chong's internal resit revision class

2005-06-01T15:44:00.000+08:00

tomorrow 2 june mr chong would have his internal revision class for those who resit the internal tax paper.
venue: R201
time: 2.00-5.00 PM.

student accountant direct

2005-05-29T20:17:00.000+08:00

the june issue of student accountant direct has come out.
if you have not subsribe to it, please go to this website to subsribe.
student accountant direct
anyone you need the student accountant direct for the may and june issue, please leave your e-mail here, or alternatively e-mail to me at
teechong_yap@yahoo.com
i'll send you my copy of the e- student accountant.

BIM Anaylsis (June 05 Paper)

2005-05-28T23:28:00.000+08:00

the following is the link for the BIM analysis for june 2005 from mr low kok han specially for tarcian
ACCA 3.4 PastYearAnalysis.doc

please click on the link to download the document.
The * in the right hand corner means topics which Mr Low thinks will come out in JUne 05 sitting

TO : THOSE GOIN TO SHU

2005-05-28T01:31:00.000+08:00

During the previous week, I have managed to contact a few SHU staff that will be playing important roles during our stay there. They have replied to some of my queries via email. Below are some of the matters highlighted that I have summarized from their replies.

ACCOMMODATION ISSUE
Students will be staying at Norfolk Park in the ‘Student Village’. Each student had been allocated to specific hostel randomly. The list of occupants for each hostel has been prepared without students given the privileges to choose their housemates. This applies to all other Bachelor Degree programs. Reason being pre-selection of housemates by students, causes tremendous amount of admin work prior to students’ arrival in the previous years. Furthermore, everything changes again when students reached SHU.

Enough of the bad news as I understand that each of you wants to stay with your group of friends. So, good news is students will get to change their room and units again when they reached SHU by informing the related office staff at Norfolk Park when they are there. Nevertheless, students will have to occupy the allocated room first for a few days or probably a week or two upon arrival before switching to their desired room and unit. This is due to the admin processing time as approval is pending.

What I will do is, prior to departing from KLIA, I will pass down a list for all the Bachelor Degree in Accounting and Finance’s students to write down who they would like to stay with as we are waiting at the airport. If possible, try to get a group of 5 to 8 persons in a group as your housemates now. This will make my work easier and faster as I pass down the list. However, I can’t confirm that the Norfolk Park’s staff will be using or process the list that we have prepared. When I reached SHU, I will discuss with the admin staff there again with regard to the switch of room and will try to get them process everything for us real soon. Anyway, there is a very high possibility that you will certainly be staying with your group of friends. It is just a matter of how long to get everything processed and approved. So, DON’T WORRY….

There are beddings, kettle, microwave and cooking utensils in each house at Norfolk Park. However, students may bring theirs if they want to.

VISA ISSUE
There is no need to obtain a student visa as we will be entering UK simply as like any traveler visiting UK which has 6 months validity. Nevertheless, please make sure that your passport has at least 6 months validity from the time of your arrival in UK. Do MAKE SURE too that your Unconditional Letter of Offer is with you upon arrival as it is an integral part of the immigration process in UK. The 6 months period clearly covers the 14 week summer top up and time for a short trip around the UK or Europe at the end of the course (if you are interested).
Anyone intending to stay on for the Masters course starting in September 2005, kindly inform me real soon. Further information on the Masters course is available at www.shu.ac.uk/tarc.

TEXTBOOKS ISSUE
For those of you choosing Corporate Finance as your optional paper, the core text is as below :
Title - Corporate Finance: Principles and Practice (Third edition 2004)
Authors - H D Watson and A M Head (both SHU tutors but not actually taking the module this summer)
Publisher - Financial Times/Prentice Hall
ISBN 0273 68356X
Price 32-99 GBP

According to Mr David Kyle, the above core text could be found at Kinokuniya book store at KLCC. Other book stores, I am not sure.

There is no textbook for Financial Decision Making (compulsory module).

As for the remaining other 2 modules, no further information at the moment. I will keep you all updated.

teechong comment: maybe you wait until next week when the book seller come in and you can get from them at a price which is much much more cheaper than those available at the book stores

BANK ACCOUNTS
Those of you who intend to open a HSBC bank account in UK, you may do so as letters have been prepared by SHU for your convenience to open the bank account there. However, it is advisable to open up a HSBC or any foreign bank (subject to availability of ATM machine of that foreign bank in Sheffield) account in Malaysia. The procedure of opening a bank account in UK is going to be very tedious.

Any doubts kindly SMS me at 017-4799892. Thanks!

Khai Nien

sfm focus topic for internal resit

2005-05-26T10:45:00.000+08:00

focus on the following topics:
WACC
Dividend growth model
Other company valuation models
Theory on merger and acquisition
Estimating discount factor, alpha value, understanding security market
line (SML)
Corporate governance
Interest rate swaps
Different types of diversification/growth strategy

disclaimer: the above topic are just a guide line for those who are resiting the internal exam. please do not mention anything to mr tho regarding this information. thanks.

do hope this information from one of the coursemate would help you all and truely hope to see you during the july convocation.

important accouncement for those who are going to SHU

2005-05-20T23:31:00.000+08:00

Below are some of the matters to be highlighted b4 departing for SHU :

1. Pay the remaining balances of your air ticket and collect it once it is ready. (MAS Airlines - full price at RM2772 which are subject to changes in airport taxes and prices quoted by different agents)

2. Highly recommended to purchase an insurance policy. Do remember to collect your policy from your agents and bring it together to UK.

3. For those whose passport had expired, renew your passport as soon as possible.

4. Buy a bank draft amounting to 2496GBP issuing it to 'SHEFFIELD HALLAM UNIVERSITY'. Highly recommended to buy the draft in Malaysia and bring it to UK as the bank charges in UK will be in GBP which eventually will be very costly when converted to RM. Do consider Bumiputra Commerce or RHB as the charges is the lowest in the market. Exchange rate for GBP now is quite low, so buy it as soon as possible.

5. Highly recommended to open a savings account with any foreign bank in Malaysia. Preferably HSBC as there are 10 HSBC branches in Sheffield. Your parents may then bank in your living expenses anytime to your HSBC Account in Malaysia without incurring any high charges as in using TT. Take your ATM card to UK to withdraw your living expenses from the ATM machine there. Charges per withdrawal in UK is RM5 (lowest charges as compare to method as in TT which is the highest, or depositing a bank draft into your UK bank account whereby you will incur bank charges in GBP on depositing). By using this method, you then wont need to open a new bank account in UK as withdrawal can simply be done through ATM machine there. Opening a new bank account in UK requires tedious procedures and it takes time for the bank account to be activated. Further enquries do refer to the officers in the respective foreign banks. For HSBC, u will need an introducer to open new bank account in Malaysia.

6. Alternatively, you may choose to buy a bank draft or travellers' cheque on the whole lump sum of your living expenses in UK and bring it to UK. You may then open up a new bank account there and deposit the bank draft or travellers' cheque into the account. You will thus only incurred an initial charges in GBP on opening the bank account and one off charges on depositing your bank draft. Travellers' cheque will be charged 1% on the amount you bought. Estimated living expenses for the duration is 1000GBP (not inclusive of Tour subsequent to the completion of the course).

7. As for the stuff that you will have to bring to UK, do seek advice from seniors.

Any further enquiries, kindly contact me at 017-4799892 (until 16th June 2005) / (60)12-4470074 (M'sian hp. no. used in UK) or email me. Those using MSN Messenger, u may add me at tkhai_nien@hotmail.com or Yahoo Messenger at khai_nien@yahoo.com or ICQ at 24993236. I will try my very best to help out.

See ya then at convocation (if you do attend) and all the very best in your ACCA Exams!
Khai Nien
special message from Khai Nien...
tee chong have no comment.

May student accountant

2005-05-19T14:37:00.000+08:00

the may edition of student accountant had arrived in the sbs office.
please go and college if you are going back to the college.
and you should check out the relevant article related to the papers you are sitting.

Resit for core paper... attention.... please see lecture at the following time

2005-05-19T10:12:00.000+08:00

please help to spread the following news:
paper 3.6 Advanced corporate reporting
Miss Chin Yoke Fong
Please see miss Chin on
20 May (tomorrow)
10am
the venue should be at her room.

paper 3.7 Strategic Financial Management
Mr Tho
general guidance would be given by mr tho on topic to study.
date 24 May (tuesday)
9 am
dkz.

paper 3.3 Performance Management
Miss Karen
please see miss Karen on the following date
date 24 May (tuesday)
11 am
vunue miss Karen's room. (the room with her name on the door).

paper 3.5 strategic business palaning and development
Ms Ng
most likely ms ng would not give any guidance on the following resit.
but it would be advisible for you to refer to her notes.
anyway, you could try your luck to see her in the college to see whether she would be willing to give any guidance if her mood is good.

all the best..
hope to see you during the convocation

tips june 2005 paper 3.1 Audit & Assurance Services

2005-05-19T00:48:00.000+08:00

source:- BPP
Section A
Questions 1 and 2
Scenario questions in the context of audit risk/business risk.
May also include:
• Control suggestion and/or evaluation
• Audit evidence on Paper 2.5 accounting areas (see Q3)
• Group audit issues (including audit work on fair values)
• Planning/practice management/quality control issues
• Assurance services
try out: 14 Signet, 24 Alakazam, 25 Amber Pan Europe, 44 Azure, Q2 Mock 1 Imperiol

Question 3
Audit evidence. Comment on the matters you would consider and the audit evidence you
would expect to find as audit manager conducting a review of audit files.
Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:
• Earnings per share
• Borrowing costs
• Revenue recognition
• Standard costing
• Impairments
• Deferred tax
• Discontinued operations
• Intangible assets
• Related party disclosures
try out: 34 Aspersion, 35 Phoenix, 37 Alphasweeter, Q3 Mock 2 Visean

Section B
Question 4
Part (a): Any syllabus area. Part (b): A related question on reporting.
try out: 53 Capri, 54 Arid, Q4 Mock 1 Cinnabar

Question 5
Ethics, professional and quality control issues scenario question.
try out: 3 Aventura, 5 Isthmus, Q5 Mock 2 Corundum

Question 6
Discussion question on current issues, e.g:
2 of 2
• Money laundering (make sure you read the examiner's recent article as likely to be
examined!)
• International convergence
• Audit exemption for small companies
• Risk-based auditing
• Corporate governance
• Laws and regulations
try out: 1 Assurance provision, 6 Convergence, 51 Environmental issues

Relevant Articles
The examiner, Kim Smith, has written many articles and expects you to have read them and know them.
She often comments that students fail for not having read the articles explaining how to tackle questions.
Read as many as you can, particularly the following:
• Money laundering, 4 February 2005
• Revised group auditing standards 29 Oct 2004
• 'Professional ethics – a kloser look', 30 April 2003
• Reporting on reports on reporting 23 Apr 2003
• 'Divided opinion' (auditors' reports), 5 November 2002
• 'Tackling the 'Discussion' question', 1 November 2001
• 'Technique in auditing questions – part 2', 17 October 2001
• 'Technique in auditing questions', 4 September 2001
• 'Audit and assurance services', 27 July 2001
• 'Rest assured' (assurance), 1 June 2001

source: LVMT
• Business risks/financial statement risks
• Audit planning and audit strategy
• Audit implication of accounting standards; FRSs 10, 11, 12 and 15 are of particular relevance
• Comment on suitability of audit opinion involving going concern
• Comments on ethical and professional issues involving confidentiality/non- compliance with laws and regulations
• General discussion on money laundering and its implication on the responsibilities/liabilities

Source: FTC UK
• Risk analysis and audit strategy … possibly with Money Laundering thrown in to the case study
• Assurance Services - Performance measurement / prospective financial information
• Accounting treatments / Materiality / Audit evidence –applied to 3 scenarios – covering usual FRSs – 3, 8, 10, 11, 12, 15, 18, 21
• Audit reporting – First-Time Application of IFRSs in the UK
• Professional / Ethical Issues or Practice Mamangement – Quality Control
• Current Issues – SOX / Liability / Money Laundering

Source: FTC S'pore
Lecturer - Mr Rhys Johnson
Q1:Risk assessment and implications of an acquisition for the conduct of an audit. Group audits
Q2:Approach to an assurance engagement - engagement process, planning, procedures. Will include “how to audit” certain specified balance sheet or income statement items. Possibly PFI.
Q3:Three accounting issues - discussion of matters (accounting treatment, risks, materiality and reporting) and audit evidence. Provisions, impairments, asset valuation, RPT's are all favourite topics
Q4:Audit report - suitability of the audit report in the specified circumstances
Q5:Ethical and professional issues – likely to focus on independence, quality control, publicity, fees
Q6:Discussion question - possible topics are environmental reporting/international standards/ corporate governance/independence and the provision of other services

Money laudering will feature at some point in the examination –
most likely Q6.

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.3 Performance Management

2005-05-19T00:39:00.000+08:00

source:- BPP

Section A
Question 1
The longer question is likely to feature some short term planning (e.g. budgeting), requiring a statement of profit or costs. It may include analysis of relevant costs and the scenario will be a substantial length. The discursive elements will draw on the scenario to illustrate models (e.g. strategic planning) and/or candidate’s own experience.
try out: 55 Fork Lift Trucks, 61 Privmed, 62 Motor Breakdown Services

Question 2
The second, usually shorter question, will cover either numerically calculations (e.g. costing) with a short discursive requirement or this part of the exam may be used to test performance measurement using KPI’s as well as more traditional performance targets.
try out: 45 Eatwell Restaurant, 41 Management Accounting and the Public Sector

Section B
It seems likely two questions will be wholly discursive, following more numerical emphasis in section A.
• If performance management hasn’t appeared in section A, a 20-mark question could
be inserted in this section.
try out: 30 Mission, 48 Internal and External Factors

• Modern Management Accounting Techniques within a scenario or specific industry
could require candidates to apply their knowledge.
try out: 20 Shipping Industry, 9 Stock Alternatives

• Finally numerical topics that could appear: learning curve, risk and uncertainty,
divisional performance (RI and ROI)
try out: 69 Producing NV3, 72 Stow Health Centre

Source: FTC UK
• Contribution based decision-making
• Practical aspects of pricing policy
• Performance evaluation – financial v. non-financial & business v. non-business
• The strategic framework
In addition to the above, the examiner has still not examined in any great depth the
content of the articles he has written for the students’ newsletter

Environmental management accounting – Jan 2004
http://www.acca.co.uk/publications/studentaccountant/107348

JIT & backflush accounting – Apr 2004
http://www.acca.co.uk/publications/studentaccountant/1143053

Management control – Sept 2004
http://www.acca.co.uk/publications/studentaccountant/2244397

Source: FTC S'pore
Lecturer - Mr Saminathan
1. Case study with CVP analysis & learning curve included to measure
financial performance.Other non financial indicators could also be
included to measure performance of a service business.
2. Divisional performance measures and rewarding of managers in
divisions.
3. Management control & budgeting in private & public sector.
4. Risk analysis in decision making.
5. Theory question on modern developments in MA & building
sustainable cost advantages.
6. Knowledge of strategy & gap analysis could also be included as
part of a question.

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.4 Business Information Management

2005-05-19T00:07:00.000+08:00

source:- BPP

Section A
The examiner tends to provide fairly lengthy case studies, which provide information about the business strategy, the IT history to date and the current situation. As you are likely to be dealing with an organisation that needs to make decisions about its IT systems and strategies, questions are often based on strategic models and approaches from the syllabus.
Questions in the June 2005 exam could ask you to analyse an organisation's current position regarding its IT, perhaps using a model such as Porter's value chain (Q11). In order to tackle this type of question, you need to be able to recognise the relevant business strategy in order to make appropriate IT suggestions. Questions 51 and 52 are excellent ones to practice on this.
A key area that all students must focus on is how to develop a business case for Information Technology. IT facilitates business decisions, and the examiner is likely to ask you to analyse the key business issues. A key model to understand and use is ‘Where We Are, Where We Want to Be, Going to Get There’, and it would be useful to review the first BIM exam paper set.

There could also be questions asking you to improve a project or development that is
experiencing problems (Q26, Q28)
Another key to review would be the human and social issues relating to IT development, and the syllabus lists several change management theories, such as Lewin, which have yet to be examined.
Exam technique is extremely important in this paper, so working through as many case
studies as possible is to be advised. Questions 64-66 are the questions from the examiner's pilot paper.

Section B
Section B questions could come from anywhere in the syllabus, and there are often questions which focus on one particular theory. The examiner also uses these questions to get candidates to bring in 'real-life' examples, to illustrate theories, so be sure to have at your fingertips some examples which you can use, either from your own experience, or perhaps from other exam scenarios and questions which you have used. There is also usually one question with a mini-scenario that can be a good one to choose, as you have a context to work with. The examiner also uses section B to test knowledge about specific types of technology.
Key theories that need to be understood are those of Nolan, Parsons, Porter, Earl and
Zuboff, and reviewing past BIM papers can be extremely helpful to see the style of questions on these areas.
Key areas to cover in depth are as follows:
• E-commerce is an area that usually appears on information papers ((Q8)
• The human impact of IT has not yet been examined extensively (Q31 &32)
• Knowledge management is an area that may be prominent in future exams (Q5)

Source: FTC UK
• Strategy –application of an IS/IT/IM strategy in the context of a scenario
• Porters 3 generic strategies in relation to the development of e-commerce systems or the Internet
• Knowledge management – problems of knowledge sharing and solutions within a business context – perhaps relating to knowledge and data workers
• Data warehousing and data mining – problems of amalgamating company wide databases to facilitate data sharing
• Value chain – identification of IS to support the value chain along with an explanation of its importance to the development of business strategy
• Legacy systems and risk – based around the article in the March Student Accountant - could be linked to the decision to outsource the development to reduce the risk.
• Lewins model and managing change – the application of the model and how problems can be reduced in relation to policies which address behaviour.
• PEST analysis – application of information within a scenario to determine the internal and external issues affecting the business – further development within
section b) of the question to improve the current position.
• Reasons for the development of strategy and alignment issues – core topic area – yet to examine the reasons for the development of an IS strategy – alignment issues could be linked to one of the above models g value chain
• Globalisation
• Eis
• ssm

Source: FTC S'pore
Lecturer - Mr Alex Watt
• Linking IS/IT strategy to business strategy (Note: this is the core topic of the syllabus)
• Web based technology – internets, extranets, intranets
• Applying IS/IT for competitive advantage – five forces, value chain and generic strategy models
• PEST
• Outsourcing
• Data warehousing and data mining
• Lewin’s model for change management
• Legacy systems
• Project risk

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.5 Strategic Business Planning and Development

2005-05-18T23:03:00.000+08:00

source:- BPP
Section A
Always difficult to predict the subject matter of the case scenario, and in December it was
rather unusually based around the control and management relationships within a large group
structure of a manufacturing company. Therefore this time it might be something less complex
in structure and based on the service sector.
Areas that could be included within the requirements could include
• A discussion of the relative merits of different ways of making strategy
• Stakeholder analysis and objective setting
• Application of strategic analysis models
• Evaluation of strategic objectives, using the numbers included
• Marketing issues
try out: 52 World-Wide Agricultural, 51 Bethesda Heights, and 50 Playwell.

Section B
• Marketing, including new product development. In part suggested by the recent article
but also due the lack of marketing in the December 2004 exam.
try out: 24 Westport University, 26 Karaoke, 27 Product Launch, and 34 Sports Centre

• Change management. This is feasible this time because it is an important subject,
which has been absent for the past few sittings.
try out: 20 Apex Culture, and 49 Lionel Cartwright.

• Globalisation strategy. The strategic development of global businesses was very
popular when the paper was first introduced. It remains relevant and could be due
another appearance.
try out: 41 Excalibur Sportswear, 42 Global Marketing, 43 Clothing Supply Company and 48 ALG Industries

• Ethics and corporate social responsibility. With all of the talk (and recent cases) of
corporate scandal ethical behaviour is a very topical area of the syllabus
try out: 16 Digwell, 17 Large Financial Services Company, and 18 Acquisition

Relevant Articles
• E-commerce ~Jim Stone, May 2005
• The role of the accountant in new product development - Ralph Bedrock (the examiner),
January 2005

source: LVMT
The examiner for this paper is Ralph Bedrock, although relatively new to this position has proved to be his own man. He has examined topics that can be considered to be ‘unfamiliar’ such as business-to-business marketing (B2B), new product development (NPD), and corporate governance.
Having said that, he hasn’t deviated from the core aspects of a strategy paper so there is no cause for panic. In his examiners’ feedback, he expressed concern on the issue of time management and examination techniques and said the two ‘often proved to be the difference between candidates who passed and those who marginally failed’. So what can we expect this time:

• Stakeholders - using the Mendelow matrix
• Internal analysis for strengths and weaknesses with more emphasis on value chain and/or BCG matrix
• Environmental analysis using the PEST in a multi-national environment
• Globalisation - ‘Ethnocentrism’, ‘Polycentrism’ and Geocentrism
• Marketing - the role of the accountant in NPD
• Strategic options and evaluation - Porter and Ansoff
• Dangers of implementation
Finally, we cannot over emphasise the importance of understanding the core aspects of strategic management: strategic analysis, choice and implementation. Most of the questions tend to be from these areas, so get ready.

Source: FTC UK
• Ethics
• Evaluate the importance of international issues including competition, management and regulation.
• Discuss ways in which conflict between centralised control and individual creativity can be managed.
• Structure
• Marketing
• Evaluate current position
• Evaluate the tools which can be used to influence behaviour in the work place

Source: FTC S'pore
Lecturer - Mr Rhys Johnson
• Strategic management approaches – rational, emergent
• Strategic analysis – PEST, 5 Forces, BCG, Value Chain
• Stakeholder mapping
• Strategic options – Ansoff’s matrix, vertical integration
• Marketing mix
• Change management
• Quality and culture
• Human resource management – recruitment, motivation
• Accountants role in new product developement

Any of the questions may be set in a global business context.

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.6 Advanced Corporate Reporting

2005-05-18T23:02:00.000+08:00

source:- BPP

Section A
The section A question can be on any of the traditional higher-level group accounting topics
that are not examinable in paper 2.5. Complex group structures or disposals of subsidiaries
appear to be the most likely topics having not appeared for quite some time.
(Questions: X Group, Wright)

Section B
Section B questions tend to range over a number of topics and may include:
• International reconciliations and the continuing attempts to bring about international
harmonisation. IFRS 1 on First time Adoption of IFRS has already been examined but
could reappear due to its topicality.
• “Mixed” questions can include a wide range of new and longer-established areas of
accounting. Issues relating to recognition and impairment of tangible and intangible
assets have been a recurring theme along with provisions and retirement benefits.
• Accounting for financial instruments could be tested.
• The new standards on share-based payment could be tested in numerical detail.
• Performance and valuation measures and how these are affected by accounting
policies often appear in the ACR exam.
(Good questions for practice on these areas include: Impairment of assets, Finaleyes, retirement Benefits, Vacs, Low Paints (Q2 within Mock Exam 2 in the UK kit), Desolve, FREDs 23 and 30)
• A discussion question looking at current developments in corporate reporting. Social and
environmental reporting can appear here as well as business ethics, and reporting on the
internet.
(Questions: Glowball, Mineral)

Relevant Articles
• IAS 39, Graham Holt, May 2005
• First-time adoption of International Financial Reporting Standards, Steve Scott, January 2005
• Improving standards, Graham Holt, August 2004
• Disposal of non-current assets and presentation of discontinued operations, David
Towers, April 2004
• Group accounting: associated companies and negative goodwill, Steve Scott, April
2003
• Convergence of UK GAAP to IAS : Group accounting, Steve Lawrence, December 2002
• A review of recent FREDs, Graham Holt, September 2002
• Convergence of UK GAAP to IAS : Part 3, Steve Lawrence,September 2002
• Convergence of UK GAAP to IAS : Part 2, Steve Lawrence, September 2002
• Convergence of UK GAAP to IAS : Part 1 Steve Lawrence, July 2002
• Deferred tax, Paul Robins, July 2002

source: LVMT
Consolidated balance sheet including adjustments for accounting errors when applying recent standards

Leases including sale and leaseback arrangements, the differences between IAS 17 and SSAP 21 and the discussion paper on leases

Events after the balance sheet date (FRS 21/IAS10)
Earnings per share (FRS 22)
Joint ventures and associates (FRS 9/IAS28& IAS31)
Investment properties (SSAP19/IAS40) and Government grants
A combination of different standards in one question possibly involving FRS 15, FRS 23, FRS 24, SSAP 25, FRS 11, etc
OFR, Corporate governance and environmental reporting
FRSs 22 through 26, with emphasis on the changes to current reporting
Finally, ensure you thoroughly understand the basic principle underpinning a broad spectrum of the syllabus. For this you MUST fully appreciate the usefulness of the Statement of Principles and its applicability to the elements of financial statements.

Source: FTC UK
Group Income statement - with disposals / complex group structures / associates
or Group Balance sheet - with accounting adjustments
Share based payments
Accounting standards in a case study situation e.g. Pensions, EPS, deferred tax.
International issues (again!)
Corporate Governance and CSR

Source: FTC S'pore
Lecturer - Mr Saminathan

1. Computational question on group accounts.
- piecemeal acquisition
- vertical consolidation
- disposal of subsidiary
Look out for adjustments related to financial instruments & goodwill impairment .

2. Issues related to FRS 21 especially hedging for investment in a foreign entity.
3. Issues related to fixed assets - impairment of assets with reversal of impairment losses,intangible assets with finite & infinite life.
4. Issues related to FRS 12 - deferred tax.
5. FRS 105 Discontinuing operations
6. FRS 19 - Retirement benefit & share based payments.
7. Issues related to consolidation & groups could be a full question.
8 . Environmental reporting & human capital management
Also FRS 39 issues could be included as part of any of the issues
above

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.7 Strategic Financial Management

2005-05-18T22:40:00.002+08:00

source:- BPP

Section A
Question 1 may feature a question on mergers & acquisitions. This could include valuations based on several techniques as well as changes in shareholder wealth post-merger.
Try out: Q34 Oakton, Q35 Minprice

Question 2 could revolve around interest rate management, specifically hedging.
Try out:Q56 Projections, Q58 PZP

Section B
Subjects likely to feature include:
• Adjusted Present Value - Q32 Strayer
• International Financing - Q61 Trade Blocs, Q62 IMF, Q63 Beela
• Dividend Policy - Q76 Serty, Q77 Tigger
• Corporate Objectives - Q1 Stakeholders, Q2 International Corporate Governance

source: LCA

• Acquisition decision/MBO
• Foreign exchange risk
• Capital structure
• Investment appraisal/FDI
• Interest rate collars

Source: FTC UK

Section A:
1) Merger and Acquisitions - Company Valuation (NAV, DVM and P/E Methods) and Management Buy
Outs. Share for Share exchange, Going Private.
2) Risk management - Interest rate risk / Currency Risk
3) Overseas NPV - including the measurement of past performance and ethics.
4) Investment Appraisal - WACC, Risk adjusted WACC, The management of cash flows.

Section B.
1) Dividend Policy/Term Structure of Interest rate
2) Portfolio Theory and CAPM – summary and alpha tables
3) International economics – I.M.F., Political Risk, Foreign Exchange Rate Systems, Balance of payments deficits. Control of foreign subsidiaries, Treasury Management.
4) The Black Scholes Option Valuation Model – the application of the Put Call Parity Rule

Source: FTC S'pore
Lecturers - Mr Nicholas Blain/Mr Saminathan

- Mergers & Acquisitions, Restructuring
- Valuations
- International investment appraisal
- Interest rate risk and hedging (futures/options)
- theory of CAPM
- Capital structure, inc Modigliani & Miller
- Corporate governance
- WTO and free trade
- International trade risks

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

BPP tips

2005-05-18T12:04:00.000+08:00

ACCA Paper 2.4 - Financial Management & Control
Section A

The compulsory section A of the exam has focused on investment appraisal or working capital in the past. As Investment appraisal was the main topic of December 2004’s exam it is likely that working capital will come up in June.
• Stock management (EOQ and JIT systems) – Q95 FRANTIC, Q58 JIT and EOQ
• Cash flow forecasts – Q88 (a) JACK GEEP, Q92 AMBER PLC

Section B

In section B of the exam there will be two questions on Financial Management (one of which will be on investment appraisal). The other two questions will be on areas from the Management Accounting section of the syllabus.

Net present value (NPV) calculations - Q70, Q80 BENLAND, 87 WATER SUPPLIES LTD 93 SPENDER CONSTRUCTION

• Sensitivity analysis - Q77 BURLEY PLC
• Capital Rationing - Q82 Filtrex, Q83 PI
• Sources of equity - Q62 Burnsall, Q63 Newsam
• Mix and yield variances - Q20 Hairdressers

ACCA Paper 2.5 - Financial Reporting
Section A

Section A will comprise of one compulsory question that will examine group accounting. Group accounting is a core area and this question could ask you to produce a consolidated balance sheet and/or income statement (profit & loss account) and usually includes a related discussion element.

Section B

Section B will comprise four questions out of which candidates should select three questions. The examiner, Steve Scott has stated that the style of the paper would remain fairly static:

Question 1
The first question will be preparation/restatement of an income statement (profit & loss account) and balance sheet. It could also include a statement of changes in equity (reconciliation of movements in reserves note). This question normally requires adjustments for depreciation, tax and dividends. Others may relate to debt factoring or other substance over form issues, finance leases, financial instruments, share issues and inventory (stock) valuation. There may be further disclosure requirements re discontinued operations or an earnings per share calculation.

Question 2
The second question will be a written question examining theoretical/conceptual areas or accounting standards. This could be on tangible or intangible assets, impairments, accounting policies or leases with reference to the Framework for the Preparation and Presentation of Financial Statements (Statement of Principles).

Question 3
The third question is likely to examine interpretation and/or cash flow statements, and may include discussion of why, for example, related party or discontinued operations disclosures are useful.

Question 4
The fourth question has no specified format or content and will cover other areas of the syllabus. The examiner frequently includes a mixed bag question, which examines three or four different accounting standards. Possibilities this sitting are: IFRS 1, governments grants, substance over form issues, accounting policies or financial instruments.

Relevant Articles
First time adoption of International Financial Reporting Standards - Steve Scott

ACCA Paper 2.6 - Audit and Internal Review
Please note that there is a new examiner this sitting.

Internal audit/ Internal review – Following the new examiner’s recent article on how the internal audit department can assist in corporate governance and risk management, it is possible that this area could be tested, although articles are not frequently examined in this paper. Note that in addition to a specific question on internal audit or reviews conducted by internal or external staff, the question could be in the form of a report to management on control weaknesses with recommendations, very similar in substance to that produced by an external auditor (see Systems and Controls below)
(try out: Q7 Internal Auditors, Q8 Roxy Hotels)

Substantive testing – This will be in the exam, but what will be tested? In December 2004 substantive testing of payroll balances was tested (Q4). In June 2004 inventories (stock) (Q3) and payables (creditors) and accruals (Q4) came up. In December 2003 payroll audit was tested (Q2). In June 2003, Inventories (stock) (Q2) and provisions were tested (Q3). In the December 2002 exam, payables (creditors) (Q3) and inventories (stock) were tested (Q5). In June 2002 cash was tested (Q2) and in December 2001 receivables (debtors) were tested (Q4). That would appear to leave non-current (fixed) assets, bank/cash and receivables (debtors) as likely candidates for examination this time round. (P&R kit practice: Q38 Springfield Nurseries, Q43 Goodfoot & Q45 Villawood Computers)

Systems and controls – Again this topic will be included in the exam in some format. In December 2004 Q3 risks from a scenario had to be spotted, and controls recommended. In June 2004, they came up in the context of outsourced catering and payroll (Q5). In December 2003 controls over payroll were tested in Q2 and Q1 included controls over business risks in the areas of human resources, procurement and marketing. In June 2003, controls over non-current (fixed) assets were tested (Q6). In the December 2002 exam the sales system was tested (Q2). In June 2002 the cash system was tested (Q2) and in December 2001 Purchases/ capital expenditure were tested (Q3). Any of these could come up again: the purchases/payables and sales/receivables systems looking the most likely. (P&R kit practice: Q32 Cosmo & Q27 Internal Control Systems)

Planning and risk assessment (from a scenario) – risk in one form or another comes up at every sitting. It is one of the key stages of the audit, but can also be examined in the context of a company's business risk as it was in June 2004. In December 2004, Q2 was centred around planning and the information you require, and Q1 was about spotting the risks of fraud and error. (P&R kit practice: Q17 EWheels & Q18 Nepco)

Professional ethics – This is a core area not examined at the last 2 sittings. It is still a topical issue with all of the recent corporate collapses bringing the independence and professionalism of their advisors into question. Recently, confidentiality came up in December 2003 (Q6), conflicts of interest in June 2003 (Q3) and objectivity in December 2002 (Q1). Any independence issues would be ripe for examination again at this sitting. (P&R kit practice: Q10 Billington Travel & Q11 Manly).

Audit/ Assurance Reports – This is a very important area of the syllabus, it is deliverable from the end of all assurance engagements. You also need to be aware of the differences between internal audit reports/ external audit reports and other assurance reports such as review reports. It has been tested in December 2003 (Q3 b and c), June 2003 (Q3c and Q5), June 2002 (Q3b) and December 2001 (Q5), but not in the last few sittings. (P&R kit practice: Q54 Audit and Review Reports, Q55 Cremorne)

Parts of questions – The following topics could form discrete parts of questions at this sitting: fraud, management representations, audit regulation, materiality, e-technology (see article below) so make sure you are up to speed on these areas.
Relevant Articles
The following articles can be found in the Student Accountant magazine (or ACCA website)

The regulatory environment, Alan Lewin, 4 January 2005
Audit risk in a brave new world, Namasiku Liandu, 30 September 2004
Confirmation as audit evidence, Graham Cosserat and Katherine Bagshaw, 28 October 2003
Electronic technology and the auditor, Katherine Bagshaw, 25 June 2003
Service organisations, Katherine Bagshaw, 26 March 2003
Internal audit and review reports, Katherine Bagshaw, 29 January 2003
Corporate governance in the 21st century, Namasiku Liandu, 30 September 2002
The independence of accountants, Namasiku Liandu, 10 June 2002.
The role of internal audit in risk management, Katherine Bagshaw, 1 March 2002.
Technique in auditing questions, Kim Smith, 4 September 2001
Audit and internal review, Katherine Bagshaw, 1 June 2001

Health Warning! The examiners deliberately try to avoid question spotting. Just because a
question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to
have a good look at, but remember that no one knows what is in the exam, apart from the
examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the
examiner aims to do in the exam.

info regarding payment of air ticket to shu

2005-05-18T01:09:00.000+08:00

those who pass shu must go their travel agent to pay de air ticket already... cos 1mth b4departure must pay d fee, else they wont issue d air ticket.... if those fail, call & cancel d ticket... print out d result & take receipt to get back d deposit
payment can
1) by cash
2) by bank in
3) by credit card
those pay by credit card will be charged 3 % extra
those who travel with MSL....
mas air ticket is RM2760 by cash
please pay the fees as soon as possible
because the travel agent must wait ALL of us pay then only they would issue the air ticket

PS: i'm just help passed this message to those who are going to shu and i'm not responsible and not clear about any details.thanks

Exam docket

2005-05-17T22:36:00.000+08:00

you should be able to received your exam docket by this week
and if your exam docket is with the office please collect from the office.

and please remember to change your address for the acca corespondent if you have not changed it.
(since we are no longer studying in tar college, you can change back to any address which you prefer. your hometown or any place you could receive corespondent from acca)
you can change it via the acca website which is more convinent or you can write to acca to change your address.

Closing date of convocation application

2005-05-17T22:33:00.000+08:00

please take note of the following matters:-

Date exam results released 17 May 2005

Deadline for Resit Application /
dealine for convocation application21 May 2005

Collection of Resit Bill 24 May 2005

Deadline for Payment /
Convocation for May 28 May 2005

convocation

2005-05-17T22:23:00.000+08:00

for those who are going for the may 28 convocation,
please go to the admin block to collect your letter to attend the convocation.
you have to prepare bank draft RM 125 for the rental of gown and also the convocation fees.
in additional you would have to prepare annother bank draft amount to RM 300 for the deposit of the gown.
the closing date/due date for the convocation would be on the 21 May 2005.

Tips again -source LCA

2005-05-14T00:25:00.000+08:00

tips again - source LVMT

2005-05-14T00:20:00.000+08:00

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - LVMT UK)

PAPER 2.2 Corporate and Business Law (UK)

Delegated legislation and EU law
Consideration
Terms and exclusion clauses
Redundancy
Creation, duties and powers of agents
Partnership and limited liability partnership
Veil of incorporation
Classification of companies
Increase and reduction of capital
Appointment, powers and duties of directors
Minority protection
Winding up

PAPER 2.4 Financial Management and Control
Financial management objectives
Management of working capital (financing types, debt factoring/discounting, cash and stock)
Sources of finance (equity and debt)
Capital expenditure and investment (NPV, IRR, capital rationing, borrow or leasing options)
Decision-making (product mix, make/buy decisions)
Standard costing and variance analysis (mix and yield variances, operating statement)
Budgeting and budgetary control (production budget, cash budgets, rolling budgets, top-down/bottom-up)

Kwai fatt june 2005 3.2 irc

2005-05-12T22:26:00.000+08:00

those who are taking kwai fatt's irc please take note that you can collect kwai fatt's irc notes from today on wards at systematic.

prepare yourself for 3.2 revision clas with kwai fatt's revision notes.

SBS E-journals for sale

2005-05-12T22:12:00.000+08:00

there would be e-journals which regards on activities and photo of students in sbs,
for sale during our first convocation on 28 MAY 2005.
the price is RM4.00
you can grab it during the day of the convocation.

Tips again.... source FTC uk

2005-05-11T13:41:00.000+08:00

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - FTC UK)

1.1 Preparing Financial Statements
SECTION A (50 %)
25 Multiple choice questions
Will cover all areas of the syllabus

SECTION B (50%)
Longer questions – will include theory and computational questions.
Five compulsory questions will need to be attempted. Each question will carry between 8 and 12 marks,
• Preparation final accounts of a partnership/ company
• Non current assets ledger accounting
• Correction of errors and suspense accounts
• Cash Flow Statements
• Ratios and interpretation
• Accounting theory, Concepts & Standards

1.2 Financial Information for Management
The paper will consist of 25 MCQs of 2 marks each and 5 long questions of 8-12 marks each. The MCQs will vary in difficulty, but the variety will ensure that the paper reflects the syllabus. The five long questions will be a mix of (mostly) calculations and (some) written marks. The vast majority of the marks in this paper will be for calculations.
The nine key areas of the syllabus will make up the bulk of the exam paper:
• Cost classification and behaviour.
• Material, Labour and Overhead costs.
• Absorption and Marginal Costing.
• Process Costing.
• Standard Costing (includes variances).
• CVP analysis (includes break-even).
• Pricing Methods.
• Relevant Costing
• Limiting Factors and Linear Programming

1.3 Managing People
Primary Tips:
• Classical and modern theories of management and structure
• Authority, responsibility and delegation
• Effective Communication Practices
• Objective setting; performance indicators
• Recruitment and selection – Job Description and Person Specification
• The Learning Process – Mumford and Kolb
1.3 Secondary Tips:
• Culture, change and the effect on existing structures
• Management of Diversity/Equal Opportunities
• Individual, Groups and Team behaviour
• Controlling conflict and greivance

Paper 2.1 - Information Systems
Managing information systems
Strategy – short question perhaps relating to reasons for the development of strategy or alignment
IT opportunities – general question in the context of a case i.e. how an organisation may use technology to enhance its position
Costs and benefits – could be a compulsory question relating to the classification of cost and description of an appropriate method to evaluate economic feasibility
Legacy systems – although the March article of for 3.4 and makes no reference to 2.1 in the header useful to read – no past exam question
Project management – potential for a theory question similar to J03 relating to the creation of a plan for the improving time management – also consider terms of reference and PQP.
Designing information systems

Methodologies – explanation of the various development approaches including waterfall, spiral and hybrid – also consideration of the benefits of each approach
Techniques – potential question on either entity modelling or entity life histories.
Case tools – discussion in relation to improving management of the design process, perhaps linked to prototyping and external design.
Evaluating information systems

Security – any aspect but viruses, remote access and legislation seem to be key issues
Quality assurance – and the V model and the improvements which result
Metrics – discussion of the creation to standards to evaluate the success of the systems – perhaps also the explanation of weighted ranking or bench marching.

Paper 2.4 - Financial Management & Control
Investment Appraisal - to include inflation, tax, relevant cost. May be lease Vs buy, possibly capital rationing.
Working Capital - All aspects of working capital – including cash budget, stock and debtors. May also include cash management since the Miller Orr formula has ‘appeared’ on the formula sheet.
Ratios -Could be part of working capital, or more focused towards general evaluation of a company, including long term finance
Budgeting - may include cash budget as above, possibly some forecasting (especially regression)
Performance measurement -possibly divisional performance evaluation, may include index numbers to appraise performance.

Paper 2.5 - Financial Reporting
INTERNATIONAL

CBS and CP&L
Published accounts,EPS ?(maybe restatement or something bit different to normal IS and BS)
Interps (but don’t neglect cashflow)
Substance/IAS37
IFRS 1

Paper 2.6 - Audit and Internal Review
Ethics - Independence and Conflicts of Interest
Planning - assessing audit risks
Internal Controls - sales/purchases
Substantive Testing - stock, fixed assets
Review of audit - going concern
Audit reports - practical scenarios
Internal Audit - role in corporate governance / business risk analysis

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

3.4 and 3.5 article

2005-05-10T22:49:00.000+08:00

3.5 article regarding e-commerce
the 3.4 and 3.5 subject co-ordinator had written an article on e-commerce.
just have a glace trough the article and see what you could possibly benefit from it.

3.6 article on IAS 39 by the examiner

2005-05-10T22:45:00.000+08:00

please check out the examiner article on IAS 39 / MASB ED 35 financial instrument :recognition and measurement
IAS 39 financial instrument

article on paper 3.2 (mys) by the examiner

2005-05-10T22:41:00.000+08:00

please be aware that there is an article relating to Investment holding company which might be something which is not 'alien' for those who study the paper 3.2 (mys)
just go and have a look at the article and hope it would be an useful guide.
investment holding company

10 ways to: beat exam nerves

2005-05-10T22:39:00.000+08:00

There’s no getting away from it. Sitting your exams can be a stressful experience. However, there are strategies you can employ which will help you cope. We asked you for your top tips, and here are some of the best.

1. Think positive
A positive mindset can do wonders for your confidence in the exam hall. Matt Holden, ACCA course manager and management tutor at Reed advises: ‘When you start getting those exam nerves and negative thoughts you have to counter them with positive thoughts. Tell yourself that you are going to pass the exam. A positive mindset will improve your chances, so why not?

Make sure you have done the right kind of studying – this doesn’t mean just reading notes all day and night, you must also practise past exam questions. If you are unable to complete any part of a question when answering a past paper, don’t just ignore it – phone a friend, or better still, contact your tutor. Remember that if you find a question difficult, it’s likely that other candidates will too.’

Fifteen minutes before the start of the exam, instead of spending time worrying about the next three hours and what the exam questions will be about, get your brain warmed up. Go over a few of the basics in your mind – get yourself tuned into the subject.’

Girish Samtani, a Part 3 student from Singapore, agrees: ‘It’s never easy to manage exam stress but a positive approach and not fearing exams is where you should start. It’s all about attitude.’

2. Relax
Many students will be familiar with that shaky, nauseous feeling you can sometimes get as you enter the exam hall. But there are ways you can ease these feelings. Victor Zhou, a Part 3 student from Shanghai, has these tips for controlling anxiety: ‘Before entering the exam hall, I feel very nervous, even though I know I’m well-prepared. Try to breathe more slowly and deeply, and say to yourself: ‘Take it easy, just relax’. You’ll find the anxiety often passes quite quickly and you can concentrate on the questions.’

3. Be prepared
The best route to confidence in the exam hall is knowing you’ve prepared as much as you can. ‘Know a bit about every topic in the relevant module,’ advises Esinam Baeta, an affiliate from Ghana. ‘This way you will feel confident enough to talk about any topic relevant to the question.’ Question spotting is not recommended. Know your way around the syllabus.

4. Keep in time
Keeping track of time in the exam hall can be difficult when you are concentrating on completing your exam. Part 3 student Deonarine Gopaul from Guyana suggests a way to avoid this: ‘I plan the exact time that each question should be finished. This stops me panicking in the exam, wondering whether I’m going to finish or not.’

5. Keep it healthy
There are certain types of food and drink that will help you think clearly during your exam. Drinking water before you go helps, but don’t drink too much otherwise you’ll be going to the toilet all the time. Keep a small bottle of water on your desk to keep yourself hydrated as the exam progresses. Make sure you have something to eat at least an hour before the exam starts so you don’t get disturbed by hunger pangs. But be careful not to eat too much as this can make you sleepy. ‘Drinking herbal tea, especially camomile, can help you relax before an exam,’ points out Part 3 student Claude Licari from Malta. ‘Coffee and caffeinated drinks may stimulate you, but this doesn’t last long and you’ll end up feeling tired.’

6. Treat yourself
Arrange something fun for after the exam. There’s nothing more you can do if you haven’t got any more exams to sit – so why not relax? Shane Honey, a Part 2 student from the UK, says: ‘I find that arranging a treat after an exam is good to reward myself for all the effort I’ve put into studying. This helps to reduce my worries of performing well in the exam as I have the treat to look forward to. For example, last year I met my daughter afterwards and we both went ice-skating and then to a cafe.’

7. Keep it to yourself
Even though it’s tempting to talk to other students as you prepare to enter the exam hall – sometimes it isn’t the best policy. ‘On the actual day of the exam refrain from discussing the syllabus with other students. You might discover that you didn’t cover certain areas, and as a result will needlessly panic before the exam,’ says David Mwonzora, a Part 2 student from Zimbabwe.

8. Keep busy
Before your exam, worrying and thinking too much about what is ahead of you can sometimes make your anxiety worse. An ideal way to combat this is to take your mind off it by finding something to do. Apollon Leontas, a Part 2 student from the UK, offers the following advice: ‘Take a walk in the park, or try drawing or painting to reduce stress and relax your mind. Half an hour of physical exercise is also another way to release tension. Lying down and listening to music can also be a great way to keep your mind off the exams.’

9. Ask for help
‘If you have one, meet with your tutor to discuss topics you don’t understand,’ says Tasha Campbell, a CAT student from Jamaica. To get maximum benefit, summarise your knowledge of the syllabus and check if there is anything missing or anything you don’t understand. Do this a couple of weeks before the exam, then arrange to see your tutor and make notes from their advice. Then make sure you include it in your revision sessions so it’s all fresh in your mind before your exam.

10. Get together
If you can, revising in a group can really help, and will remind you that you’re not the only one facing the exams. ‘Instead of revising alone get together with a group of friends,’ says Maham Farooqui, a Part 1 student from Pakistan. ‘Try and meet weekly and set targets for the following week, for example choose two subject areas to study. Then you can test each other and all attempt past paper questions on those topics. This helps to make you feel really confident.’

adapted from acca student accountant
acca student news letter

tips june 2005 (tax 3.2 mys)

2005-05-06T19:29:00.000+08:00

Spotted topic:
1) IHC
2) RPGT
3) J/A & Partnership
4) Co-op
5) Islamic Instrument (also hv 2 know the BBA's Cap Allowance computation)
6) Personal Finance (savings, epf planning, planning thru unit trust, shares)
7) S/A Individual vs Co
8) Settlement
9) Trust

Possible incentives:
Acquisition of foreign owned company
Increased export for service sector
Cost of developing website, Rosettanet, approved offshore trading.

PR1/2004 --> S.4(d) should be treated as 1 source i.e follow the Multipurpose case and do not follow the PR1/2004 treatment of S.4(d) i.e do not separate S.4(d) to 3 sources

PERSONAL TAXATION,
a) Resident status
b)Exemption on Employment Income - 60 days, gratuity, compensation for loss of employment, dual employment contract
c)Joint Assessment
d) Personal Finance - saving shares, unit trusts, EPF Planning
e) Partnership
f) Business ventures - sole/ partnership/ sdn bhd
g) settlement
h)Trust

RPGT -
A) RPC,
B) PARA 3 b,
C) Exchange,
D) para 17
E) para 12
F) Administrative

Islamic Instruments -
wadiah, BBA, Ijara, HP vs Leasing

Tax Administration -
a) self assessment individual, co,
b) evasion, incorrect return,
c) record keeping
d) tax agent, auditor liabilities,
e) capital statements.
f) public ruling,
g) fraud, wilful default, negligence,
h) anti tax avoidance

Tax planning for company -
a) dividends imputation,
b) utilisation of unabsorbed CA + losses,
c) acquisition of company and biz,
d) S.44 (8) and S34
(6), e) rental income S.4(a),
f) Tax Audit and investigation,
g) stamp duty - computation and exemption
h) controlled transferred - interest exp, withholding tax, S4A, 107A and permanent establishment

Specialised Industries -
a) property developer,
b) investment holding,
c) close end fund,
d) leasing

Special organisation -
a) co-op,
b) club,
c) charitable institution,
d) trade association

Investment Incentives -
a) acquisition of foreign owned co,
b) proprietary rights,
c) approved food production,
d) increased export for service sector,
e) pioneer status,
f) infrastructure allowance,
g) R&D,
h) approved offshore trading

the above are tips from choong kwai fatt.
special thanks to mei mei for providing the tips.
thanks again.

tips june 2005 source FTC S'pore

2005-05-05T17:05:00.000+08:00

exam tips
1) source acca communities ~~ACCA Malaysia

Paper 2.1 - Information Systems
Lecturer - Mr Edwin Ee

- IS Management : outsourcing
- IS Management : Legacy systems
- IS Management : make versus buy
- IS management : cost centre / profit centre / corporate overhead
- Feasibility Study : financial techniques – ROI, payback, DCF
- Feasibility Study : economic / technical / social / operational
feasibility
- Project management : project quality plan / role of project manager
- Project management : risk management
- Project management : network diagrams / gantt charts / project mgnt
software
- SDLC : structured approach / waterfall vs spiral
- Structured Techniques : ELH / Case Tools / 4th GL / Prototyping
- Maintenance : Change control procedures
- Quality assurance : what quality steps ? / V-model
- Quality assurance : adoption of standards
- Systems evaluation : metrics : methods for measuring system
performance
- Computer security : threats / types of controls
- Computer security : disaster recovery planning
- Computer security : Data Protection Act

Paper 2.4 - Financial Management & Control
Lecturer - Mr Nicholas Blain/Mr Saminathan/Ms Lee Pei Yee

Q1 Case study
Investment appraisal
- Relevant and non-relevant costs
- Lease or buy
- Advantages of each appraisal methods
- Discuss other non-financial factors

Q2 - Q4
Management accounting
- Budgets, forecasting techniques
- Performance measurement
- Activity based costing

Financial management
- Objectives of stakeholders
- Raising finances: debt vs equity
- Rights issue
- Share valuation
- Factoring

Paper 2.5 - Financial Reporting
Lecturer - Mr Roy Goh/Mr Saminathan

1. Consolidated Balance sheet with fair value adjustments and other
interco. adjustments.FRS 31 Joint ventures could be included with
proportional consolidation.
2. Published accounts - Income statement & balance sheet with
adjustments on - leasing, revaluation of assets, deferred
tax,provisions & financial instruments.
3. FRS 18 -revenue recognition issues together with other substance
over form issues.
4. FRS 7 - Cash flow statement - possibly direct method with ratios
included.
5. Mini std. questions
- FRS 8 & FRS 35/FRS 105
- FRS 33 - EPS
- FRS 12 - deferred tax

Paper 2.6 - Audit and Internal Review
Lecturer - Ms Helena Johnson

Alan Lewin is a new examiner. He has not been responsible for any of
the 2.6 papers to date and as a result it is impossible to identify
the topics that will be examined in June.

I suggest you focus your revision on the key syllabus areas:

(a) Professional ethics especially the specific guidance in respect
of independence
(b) The use of the audit risk model by external auditors
(c) The role of the internal auditors in risk management and
corporate governance
(d) The control objectives and internal control procedures you would
expect to find in the sales, purchases and payroll systems.
(e) The substantive tests used to gather audit evidence in respect of
the five balance sheet assertions, especially in relation to
inventory, accounts receivable and accounts payable.

Corporate governance is a particularly important topic as Alan Lewin
has recently moved it from the 3.1 to the 2.6 syllabus.

Other topics to consider include:

(a) The concept of materiality
(b) The use of analytical procedures during the planning, evidence
gathering and review stages of the audit process
(c) The use of computers to increase efficiency
(d) Engagement letters, management letters and management
representation letters
(e) External audit reports
(f) The responsibilities of auditors and directors in respect of
events after the balance sheet date, the going concern assumption,
fraud, error and non compliance with laws and regulations
(g) The advantages and disadvantages of outsourcing the internal
audit function

Remember Alan Lewin is very keen to examine your understanding of the
audit process rather than simply your knowledge. Therefore you must
be prepared to handle practical scenario based questions.

mr CHONG GEOK CHUANG's revision class for june 2005 sitting

2005-05-03T18:11:00.000+08:00

The followings are details of Mr. CHONG GEOK CHUANG's revision class in TARC:-

date	time and venue	topic discussed
9.5.05 Monday	2.00 p.m.- 6.00 p.m. DK6	Real Property Gains Tax, Real Property Co.
10.5.2005 Tuesday	2.00 p.m.- 6.00 p.m. DK6	Cross-border transactions & activities: Permanent establishment, Unilateral relief, Bilateral relief, Withholding taxes, NR Relief, subsidiary company & branch,Residence status of co., dividends,S.108 tax credit, exempt account
19.5.2005 Thursday	2.00 p.m.- 6.00 p.m. DK6	Investment tax incentives : Pioneer status, Investment tax allowance, Re-investment allowance, Infra-structure allowance Labuan offshore Co., Investment holding Co., Unit trust.
20.5.2005 Friday	2.00 p.m.- 6.00 p.m. DK6	Tax planning, anti-avoidance, transfer pricing, control transfer, market value
26.5.2005 Thursday	2.00 p.m.- 6.00 p.m. DK6	Individual taxation, employment income, business income, personal investments, Combined assessment Pubic Rulings
27.5.2005 Friday	2.00 p.m.- 6.00 p.m. DK6	Specialised industries & Special persons (selective)

The time-table may be subject to change(s) as where and when necessary

click here to download the timetable in ms word

exam centre is being allocated

2005-04-26T23:14:00.000+08:00

please login to the my acca website to check which centre you are being allocated
login here
you can confirm which centre you are being allocated lo.
but sad to say their decision is normally final and you cannot change anything.