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12月F7 tips Exam tips are out! Enjoy but do not rely on them. BPP Question 1 • Consolidated statement of profit or loss and other comprehensive income and/or consolidated statement of financial position with one subsidiary plus associate (including usual adjustments – fair values, PUP on inventories/PPE, intragroup trading, goods/cash in transit). May include adjustment on another syllabus area, e.g. change in value of financial instrument. Discursive part (b) on reasons for adjusting for eliminating intragroup trading, unrealised profit, ‘negative’ goodwill or other group topic. Question 2 • Accounts restatement or preparation from trial balance (statement of profit or loss and other comprehensive income, statement of financial position and may include statement of changes in equity) with the usual adjustments for depreciation, revaluation and current/deferred tax (including deferred tax on revaluations) plus a mixture of adjustments (e.g. leases, substance over form issues, financial instruments (change in fair value or amortised cost), share issues, government grants, inventory valuation or revenue recognition). May include earnings per share or statement of changes in equity with a prior period adjustment. Question 3 • Whole question on interpretation or cash flows and interpretation, which may include discussion of how aims of not-for-profit organisations are different. Interpretation may focus on limited ratios and their interpretation (e.g. liquidity). Sections of a statement of cash flows (rather than whole statement) may be tested Questions 4 and 5 • One question in context of conceptual framework; other containing one or two discrete topics Possibilities: inflation, deferred tax, provisions, leases, intangible/tangible assets, government grants, earnings per share or financial instruments Becker Professional Education Construction contracts. Revenue recognition. Substance vs form. Convertible instruments (IAS 32/IFRS 9). Accounting for taxation, as part of Q2. Accounting for assets, particularly IAS 16. Provisions and contingencies. Accounting for taxation. Lease accounting. Events after the reporting period. Kaplan Q1: Consolidated statement of financial position with possible statement of profit or loss. Adjustments to include PURP, share exchange, current accounts, impairment, fair value adjustment. Q2: Published accounts to include statement of profit or loss, statement of financial position and statement of changes in equity from trial balance. Possible adjustments to include revenue recognition, depreciation, revaluation, tax & deferred tax, convertible loan, construction contract. Q3: Statement of cash flows, being asked to analyse the cash flow. Potential ratio-style analysis question. Q4/Q5: Qualitative characteristics, finance leases, intangible assets, events after the reporting date, earnings per share. First Intuition Q1: Consolidated SFP, with associate, deferred consideration, Pups and fair value adjustment. Q2: Single company accounts question, including taxation, lease, and intangible assets. Q3: Statement of cash flow and comments thereon with no ratios. Q4: The framework with computation for non current asset. Q5: Provisions. LSBF Q1: Consolidated P/L with Associates or CSFP + CPLA. Discounting & unwinding, Contingent consideration. Q2: Published Accounts with at least 15 marks on Standards such as Contracts, Leasing, Financial Instruments, SOCIE, Revaluation & Depreciation, Tax, Substance, Revenue Recognition, etc Q3: Interpretation and / or Statement of Cash Flow, with 5 marks on Standards Q4 & Q5: Mixed Standards covering Provisions, EPS, Intangibles, Impairment, etc (see Q2 above) – remember obscure topics such as Investment Properties and Capitalisation of Borrowing Costs have produced full questions recently, so no topic is safe to leave out. Opentuition • Consolidated Statement of Financial Position AND Statement of Income, mid-year acquisition, share for share exchange, nci value based on share price, fair value upward adjustments, intra-group sales and pups, goodwill impairment • Statements of Financial Position, Income AND Changes in Equity, list of balances, problems with revenue recognition (consignment goods), inventory adjustment, TNCA revaluation, depreciation straight line and reducing balance, loan interest accrual, tax provision and deferred tax movement • 20 mark cash flow (last time there was a question WITHOUT interpretation was December 2011) with a part b 5 mark chat • 15 mark question covering 2 or 3 IAS with short, relatively straight- forward calculations. Possibles? Could be anything, but here are 3 wild guesses:- subsequent events, leasing and borrowing costs • 10 mark question – could be something like development expenditure, complex depreciation question or (relatively easy) earnings per share. De Monfort * Ratios relating to financial position eg liquidity and gearing. * Complex non-current asset. * Conceptual framework – qualitative characteristics. * Provisions, contingent liabilities and contingent assets. * Intangible assets – development costs.
12月F5 tips Exam tips are out! Enjoy but do not rely on them. BPP Variances – mix and yield and/or planning and operational variances will be the focus of a variance question. Kaplan tips: - Variances: Planning and operational variances - Throughput accounting and TOC - Learning curves - Expected Values, Maximax, maximin and minimum regret - Pricing Equations and Pricing strategies - Activity based budgeting; rolling budgets - Non Financial Performance Indicators - Environmental Management Accounting - Systems : open and closed systems First Intuition Throughput accounting. Environmental accounting. Limiting factors. Relevant costs. Budgeting techniques. Flexed budgets. Labour variances with learning curves. Transfer pricing. Becker Professional Education Throughput accounting or environmental management accounting. Linear programming. Budget calculation possibly including activity based budgeting. Variances, discussion of usefulness of budgets. Divisional performance measurement including residual income LSBF 1. Throughput accounting and abc 2. Linear programming 3. Flexible budget and learning curve 4. Mix and yield variances, planning and operational variances. 5. Divisional performance or performance in services Opentuition 1 Target costing and Activity Based Costing 2 Linear programming 3 Variance analysis with Mix & Yield 4 Budgeting written question 5 Financial and non-financial performance of a division De Monfort * ABC. * Linear Programming. * Environmental Costing. * Mix and Yield variances.
12月F4 tips分享 Exam tips are out! Enjoy but do not rely on them. BPP English Legal system – court structures and sources of law. Contract formation – offer, acceptance and consideration. Tort of negligence – duty of care, breach, causation and defences. Formation of company – or operation of a partnership. Capital and financing – shares and/or debentures. Company officers – directors’ duties. Employment law – rights upon dismissal. Contract dispute – breach of contract and damages. Breach of directors’ duties. Fraudulent behaviour – money laundering or insider dealing. Kaplan English legal system – types of law, interpretation of statute. Contract law – offer and acceptance, consideration/privity of contract. Tort of negligence – breach of duty, professional misstatement. Employment law – common law duties, redundancy, remedies. Agency/partnership – how agency relationship arises, liability of agents and partners, termination of partnership. Company law – statutory books,choice of business structure/private v public company, directors’ authority. Fraudulent behaviour – market abuse, bribery. First Intuition Sources of law. Formation of a contract. Veils of incorporation. Directors. Professional negligence. Contract of employment. Remedies for breach of contract. Insider dealing. LSBF Statutory interpretation Offer & acceptance Exclusion clauses Breach of contract Neighbourhood principle Dismissal Authority of agents (particularly directors) Company names Loan capital Issue of shares Promoters Meetings Auditors Fraudulent & wrongful trading Opentuition 1 Criminal law, civil law and arbitration (D07) 2 Define consideration, sufficient and adequate (J09) 3 Terms, representations, express and implied (J09) 4 Limitation on choice of company names, passing off, names adjudicator (J09) 5 Meetings, AGMs, OGMs, Class (Pilot) 6 CDDA grounds and explanation (J09) 7 Corporate governance: rights, duties and role of auditors (D07) 8 Contract offer, counter offer, goods in shop window (D07) 9 Shareholder liability on partly paid shares (Pilot) 10 Fraudulent and wrongful trading (D09)
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