Welcome to

ACCA’s Practice to Pass Session

For September 2020

(Day 2)

WhatsApp +971 555 245 672

 Today’s Plan
• Exam Technique:
o Number of Points & Length of Your Answer

• Topics:

o Professional Code of Ethics, Public -

Interest, Corporate Code of Ethics

o Social & Environmental Factors Dec 2018 (Hilite Hotels) Q2A

o PESTEL Mar / Jun 2019 (SmartWear) Q1A

• Professional skill :
o Communication skill

• Formats:
o Press release & briefing paper
 Technique# 2:
Number of Points / Length of Answer

[
 Number of Points
• There are two types of marks for each question:
o Technical marks
o Professional marks
Technical + Professional Marks = Total Marks

Number of Points:

Total Marks Divide by TWO

So if Total Marks is 12, then how many number of lines for 1 Point?

• Exception: If the question requires “identify weakness & give recommendation” OR

“identify risk & give recommendation”, then

Total Marks Divide by THREE

 Length of Your Answer

(General Rule):

Total Marks multiply by THREE

(but don’t count format, headings and blank lines)

So if 1 Point = 2 marks, then how many number of lines for 1 Point?

 Professional Code of Ethics
Principles of Professional Ethics (IESBA / IFAC)- Mandatory on All Qualified Accountants

▪ Integrity:
Honest, straight forward, truthfulness, do not conceal any wrong thing, fair dealing

▪ Objectivity:
Fact based, no bias, no conflict of interest, no undue influence

▪ Professional competence and due care:

Maintain professional knowledge and skills, up-to-date with all laws, diligent in work, act with due care

▪ Confidentiality:
Should not disclose confidential information unless there is legal or professional duty, do not use confidential
information for personal advantage

▪ Professional behavior:
Avoid actions which discredits the profession / members, for e.g. not following company policies or procedures
 Public Interest
A professional accountant is expected to protect the interest of the following,

IN ADDITION to shareholders’ interests

1. Customers

2. Suppliers

3. Employees

4. Society / community
 Corporate Code of Ethics
(issued by Organizations – applicable to all employees)

CCE Covers the following

Employees Customers / Suppliers Society / Community

▪ Staff turnover ▪ Product quality ▪ Job opportunities

▪ Staff training ▪ Product safety ▪ CSR

▪ Gender equality ▪ Personal data & privacy ▪ Environment / pollution

▪ No discrimination ▪ Fair business practices

▪ Working conditions ▪ Fair play with suppliers
▪ Health and safety

▪ Better pay Diversity

 Social Footprint
Employees Customers / Suppliers Society / Community

▪ Staff turnover ▪ Product quality ▪ Job opportunities

▪ Staff training ▪ Product safety ▪ CSR

▪ Gender equality ▪ Personal data & privacy

▪ No discrimination ▪ Fair business practices
▪ Working conditions ▪ Fair play with suppliers
▪ Health and safety

▪ Better pay Diversity

 Environmental Footprint

Natural Resources Waste Products Pollution

▪ Depletion of scarce ▪ Disposal of waste products ▪ Carbon footprint

resources
▪ Recycling ▪ CO2 Emissions
▪ E.g. trees, oil, minerals
▪ Recycling
▪ Environmentally friendly
packing ▪ Pollution

▪ Green

▪ Spillage
 Topic:
Social & Environmental Footprint

SBL December 2018: Hilite Hotels

Q2A
(Read Exhibit 1 partially & Exhibit 4)
 Professional Skills

Communication
Express clearly and convincingly keeping in mind the target audience, for e.g. are you writing to Chairman,
NED, Finance Director, HR Director, Shareholders, General Public, etc.

HINT: Use appropriate format for Report, Briefing Notes, Presentation Slides, Letter or Press Release
wherever required
Press Release / Web Release Format:

“PRESS / WEBSITE RELEASE”

{Subject}
{From}
{Company Name}
 P E S T E L (Country / Macro Env)
Political: Technological:
• Government • Plant & machinery
• Govt policies • Skilled workers
• Govt Subsidies • IT / technology
• Govt approvals / license • Internet / online
• Political stability • Roads and infrastructure
• Taxes
Ecological:
Economy: • CO2 Emission
• Economy • Carbon footprint
• Economic growth • Recycling
• Economic downturn • Pollution
• Recession
Legal:
Social: • Laws
• Prosperous developed nation • Regulations
• Standard of living • Legislations
• Educated population • Patent / trademark / copyright
• Unemployment

▪ Favorable or unfavorable
Mention FAVOURABLE or UNFAVOURABLE
▪ Over lapping points
Porter 5 Forces (Industry / Micro Env)

Covered in March 2020 Webinar

Day 1 Video

Practice Question:
SBL Specimen Paper 1: DCS
Q1A i
 Strategic Position Analysis
Includes 3 things in your answer:

1. PESTEL

2. Porter 5 Forces

3. Internal Factors
a. Human resource

b. Financial resource

c. IT

d. Brand
 Topic: PESTEL

SBL Mar/Jun 2019: SmartWear Clothing

Q1A
(Read Intro and Exhibit 3 only)
Briefing Paper / Briefing Note / Memo
Format:

“BRIEFING PAPER”

FAO:
From:
Subject:
Date:

This briefing paper (or briefing note or Memo as the case may be) ………..