ACCA

FIRST OF A KIND
BPP, Kaplan and Marcus Evans bravely dive in to bring you red-hot tips ahead
of the first sitting of the new syllabus next month

■ Governance
WARNING: Use the tips as areas ■ Fraudulent behaviour

to have a good look at, but

F5 - performance management
remember that no-one knows BPP
what’s in the exam except the ■ Decision-making techniques - linear
examiner. Revise everything programming, relevant costing, pricing, risk &
uncertainty
■ Budgeting - possibly focusing on conflict
F1 - accountant in business between techniques such as incremental or ZBB
F2 - management accounting ■ Performance measurement and control: ROI/RI,
F3 - financial accounting transfer pricing, financial and non-financial
The structure of the new foundation papers means measures
question-spotting is impossible. The exams consist ■ Variance analysis
of 40 two-mark and 10 one-mark questions and all ■ Management accounting techniques:
questions are compulsory. This structure means that target/lifecycle costing
examiners have the scope to test all areas of the
syllabus and all areas are likely to be tested. Marcus Evans
■ Decision-making under uncertainty
F4 - corporate and business law ■ Linear programming
Marcus Evans ■ Relevant cost decision-making
■ Legal system ■ Planning variances
■ Law of obligations ■ Budgeting and forecasting techniques,
■ Employment law - employees v independent eg zero-based budgeting
contractors; types of dismissal - wrongful v ■ Interpretation of performance indicators
unfair, and remedies
■ Formation and constitution of business F6 - business tax
organisations BPP
■ Capital and financing ■ Sole trader, involving profit adjustment and
■ Management, administration and regulation of plant and machinery capital allowances
companies ■ Employed earner, particularly calculation
■ Insolvency of benefits

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ACCA

These tips should only be used in conjunction with a proper study and revision
programme. They are not a substitute for thorough revision

■ Partnerships, possibly a change in personnel ■ Completion - overall review

hot tips
■ Profit adjustment, plant and machinery capital ■ Internal audit - role, reliance by external
allowances and industrial buildings allowances auditors
for a company
■ VAT - special schemes and registration rules Marcus Evans
■ Capital gains tax - shares and securities, part ■ Ethics/independence - with conflicts of interest
disposals, gift relief and chattels ■ Identification of audit risks (scenario-based)
Don’t forget ■ Groups or overseas aspects of corporate tax ■ Internal controls - computerised system (payroll
or purchases)
the emerging F7 - financial reporting ■ Substantive testing - covering a number of items
Marcus Evans ■ CAATs
issues section ■ Group accounts - including associate ■ Corporate governance (including role of
■ Published accounts - from TB (including: internal auditor)
revaluation of NCAs, finance leases, deferred tax) ■ Management representations
■ Cash-flow and analysis/interpretation ■ Fraud

hot tips ■ IASB framework

■ Provisions
■ EPS
■ Construction contracts
■ Appointment/removal
■ Analytical procedures

BPP
■ Intangible NCAs ■ Audit procedures such as revenue and
Avoid ■ Impairment receivables, purchases and payables
or inventory
question BPP ■ Internal controls, the auditor’s use of computer-
■ Consolidated income statement (P&L) and/or assisted techniques
spotting balance sheet ■ Audit ethics
■ Accounts preparation/restatement with ■ Audit risk
adjustments ■ Corporate governance and its links with either
■ Interpretation and/or cash flow statement internal or external audit

hot tips ■ Theoretical/conceptual question

F8 - audit and assurance

Kaplan
■ Internal controls, possibly with requirements in
the style of a ‘report to management’

F9 - financial management
■ Ethics - objectivity, conflicts of interest Marcus Evans
Plan your ■ Planning - identifying and ■ Working capital
explaining/addressing risks in a scenario ■ Investment appraisal and cost of capital
answer ■ Internal controls - weaknesses and ■ Sources of finance including capital structure
recommendations implications
properly ■ Audit evidence - substantive tests, sales ■ Valuations
and debtors

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Robert Half Ltd, trading under Robert Half Finance & Accounting, is acting as both an employment business for
temporary positions and an employment agency for permanent positions.

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 ACCA

We can’t guarantee that all of our tips will appear on your papers. These tips are intended
to be used as a guide within the context of your own revision programme

P1 - professional accountant P4 - advanced financial

hot tips
BPP management
■ The purpose and aims of good corporate Kaplan
governance, together with an appreciation of ■ Business valuation through acquisitions
the relevance of different approaches (rules or ■ Foreign exchange hedging
principles) ■ Investment appraisal and risk
■ Aspects of the combined code or Sarbanes- ■ Cost of capital and sources of finance
Oxley, even a comparison between the two ■ Advantages and disadvantages of listing and Write legible
■ Identification and assessment of all aspects of corporate objectives
business risk, using a methodical approach to and lucid
identify, categorise and assess the array of risks P5 - advanced performance
facing an organisation management explanatory notes
■ Internal control systems and their review by Kaplan
internal audit and the board ■ Corporate failure

■ Professional values and ethics, using the array
ethical theories and frameworks in the syllabus,
with emphasis on the role of the professional
accountant
■ Corporate social responsibility and
environmental management systems
P2 - corporate reporting
Kaplan
■ Group accounts - foreign currency or
cash flow
■ Accounting standards set in a case
study environment, including impairment,
hot tips
■ Performance improvement strategies
■ Value-based management approaches
■ Environmental management accounting
■ The changing role of the management
accountant in today’s business environment
P6 - advanced taxation Display
BPP
■ Inheritance tax - death estate, tax calculation logical
on gifts in lifetime and on death, BPR relief
■ Capital gains tax - overseas aspects, arguments
incorporation relief, gift relief
■ Corporation tax - groups and consortia,

hot tips
financial instruments, pension, retirement reorganisations, close companies, rollover relief
benefits ■ VAT - special schemes, partial exemption,
■ Discussion - conceptual framework imports/exports
■ Income tax - overseas aspects, termination
P3 - business analysis payments, share schemes and EIS/VCT schemes
BPP
■ Assessing options for growth P7 - advanced audit & assurance Time
■ E-marketing Kaplan
■ Software packages ■ Audit risk assessment and management management
■ Change management ■ Matters and evidence
■ Six sigma ■ Professional conduct and ethics is vital
■ Project management ■ Reporting

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Just finance and accounting jobs.

Robert Half Ltd, trading under Robert Half Finance & Accounting, is acting as both an employment business for
temporary positions and an employment agency for permanent positions.

www.passmagazine.com for your free copy of Pass PASS: 40,000 copies circulated each and every month 19
ACCA

november december
18 01
19 02
20 03 ■ F6 taxation ■ P6 advanced taxation

21 04 ■ F4 corporate and business Law ■ P7 advanced audit and assurance

22 05 ■ F3 financial accounting ■ F8 audit and assurance

23 06 ■ F9 financial management ■ P4 advanced financial management

24 07 ■ F2 management accounting ■ P5 advanced performance management

25 08
26 09
27 10 ■ F5 performance management ■ P1 professional accountant

28 11
29 12 ■ F1 accountant in business ■ P3 business analysis

30 13

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© 2007 Robert Half Ltd. All rights reserved. Robert Half Ltd, trading under Robert Half Finance & Accounting, is acting as both an employment business for temporary
positions and an employment agency for permanent positions. Robert Half Ltd is an equal opportunities employer.

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