Paper F4
* Operation of judicial precedent
* Offer and acceptance of contracts
* The tort of negligence
* Breach of contract and remedies
* Directors’ statutory duties under the Companies Act 2006
* Insider dealing and/or Money Laundering
Paper F5
* Specialist Cost and Management Accounting Techniques. ABC, Throughput Accounting & Target Costing have featured recently. Backflush accounting has not yet been examined. Be prepared to discuss techniques such as ABC compared to traditional costing techniques such as Absorption Costing.
* Decision making techniques. Relevant costing, linear programming and risk & uncertainty have been examined recently. Pricing is yet to be examined in much detail other than a brief discussion about discounting and a requirement to suggest two pricing strategies.
* Budgeting. Learning curves have featured most regularly to date. Discussion marks may look at the appropriateness of budgeting types or the behavioural impacts of types of budgeting. Numerical elements in a budgeting question could include flexed budgets or time series analysis.
* Standard costing & variance analysis. Mix & yield variances, planning & operating variances and operating statements have been examined. Be prepared to discuss performance and whether variances are an indicative measure of good / bad performance.
* Performance Measurement and Control. Questions focusing on interpretation of performance and financial vs non financial measures have featured on all papers to date. Questions could focus on the public sector, divisional performance measures such as ROI / RI or a discussion of the impact on performance of various transfer prices.
Paper F6
Income tax:
* Employment income including benefits and PAYE system
* NIC for employed earners
* Income tax losses
* Property income
* Calculation of income tax payable
* Treatment of pension contributions
Corporation tax:
* Calculation of plant and machinery capital allowances
* Calculation of CT payable
* Submission of CT return and payment of tax
* Group relief
Capital gains tax:
* Calculation of various disposals from a company’s perspective
* Share disposals
* Replacement of business asset relief
* Part disposal
VAT:
* Default surcharge liability notice
* Common penalty regime
* Annual accounting/flat rate scheme
Paper F7
* Q1 (25 marks). Consolidated statement of comprehensive income (P&L) and/or statement of financial position (balance sheet) with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit, other syllabus area). Discursive part (b) on reasons for adjusting for unrealised profit or other group topic.
* Q2 (25 marks). Accounts restatement/preparation with adjustments e.g. depreciation, current/deferred tax, inventory (stock) valuation, leases, substance over form issues, financial instruments (change in FV or amortised cost), revaluations, share issues or government grants. May include EPS calculation or movement in share capital and reserves.
* Q3 (25 marks). Interpretation and/or statement of cash flows, perhaps with written part on not-for-profit entities. 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.
* Q4 & Q5 (15 & 10 marks). One question in context of conceptual framework; other containing one or two discrete topics. Possibilities: regulatory framework, inflation, government grants, deferred tax, substance over form issues, leases, intangible assets, impairment or construction contracts.
Paper F8
* Not for profit organisations
* Risk assessment
* Ethics
* Computer based auditing
* Analytical procedures
* Fraud
Paper F9
* Working capital. This has always been a favourite theme; questions on inventory management and receivables management are likely here. Make sure that you are comfortable with using working capital ratios to calculate inventory, receivables, payables and cash balances.
* Investment decisions. This exam normally contains a question involving net present value (NPV), often with tax and inflation. Remember that you may need to calculate a weighted average cost of capital before you calculate an NPV.
* Sources of finance. This is a topical area, we would expect a part question on financing problems covering gearing issues and problems for small-medium sized companies. Ratio analysis is likely to feature here.
* Business Valuations. This area is commonly tested and is a core syllabus area. You should note that in recent sittings the examiner has looked to combine different syllabus areas within the same exam question – for example asking you to calculate a cost of equity and then use it to value a company. Make sure that you are also able to value debt.
* Financial environment & risk management. Recent exchange rate and interest rate volatility could impact on a company’s financial management plans – a part question on this area could be set, with further discussion and calculations on hedging techniques.
Paper P1
* Corporate Governance. Governance underpins the P1 syllabus so you can expect detailed questions on principles-based systems such as the UK Combined Code (2006). Make sure that you fully understand the role and responsibilities of directors (both executive and non executive), and how good governance structures help to reduce risk. Remember that you may need to discuss the various committees recommended as part of best practice, and the disclosures required by the Turnbull report.
* Risk Management. Typical risk management questions often require you to identify specific risks in a given scenario, and then suggest how the organisation might seek to respond to those risks. You may also need to give your opinion on the risks, so key models that are highly examinable are the risk mapping matrix and the ‘TARA’ response model.
* Control Systems. In order to respond to risks, organisations will implement a range of controls. You need to be able to suggest suitable controls in a given context, and show that you know the difference between the control environment and control procedures. Questions in internal control may also cover internal audit, as this is an integral part of both risk management and control.
* Ethics. Ethics questions invariably require candidates to related their opinions or ideas to key theories. Remember that personal ethics relate to how we behave or choose to behave, and key schools of thought include Deontology (duty) and Telelogy (Outcome). Kohlberg’s model of ethical development is highly examinable, and questions may ask you to recognise where a particular individual fits into the model. Professional ethics is concerned with following an ethical code of conduct, and questions may ask you to evaluate an accountant’s actions.
* Corporate Social Responsibility. Organisations have a wider duty to stakeholders. This area is always highly examinable, and questions frequently ask candidates to refer to the Gray Owen Adams model, when identifying how an organisation should choose to behave.
Paper P2
Section A:
* Compulsory case study including preparation of a group statement of comprehensive income (profit and loss account) and/or statement of financial position (balance sheet) including complex group structures, continuing and discontinued activities or foreign subsidiary, or alternatively a statement of cash flows. This will include other accounting complications such as financial instruments, pensions, share-based payment and impairments.
* There will also be discursive requirements on a linked accounting adjustment and social/ethical/moral aspects of corporate reporting.
Section B:
* Industry question (often Q3), testing range of standards (NB: no specific knowledge of the particular industry is required)
* Discussion question (Q4) looking at current developments in corporate reporting such as small and medium-sized entities, leases, success/issues on implementation of IFRSs, management commentary, comprehensive income/presentation of financial statements, improvements in performance measurement. May also include a related computational part based on figures from a case study.
* ‘Multi-part’ testing a range of standards separately, such as related parties, pensions, changes in accounting policies, recognition and/or impairment of tangible and intangible assets, foreign currency transactions, leases, revenue recognition, consistency of standards with the conceptual framework, changes in accounting policies, the effect of accounting treatments on earnings per share or ratios and deferred tax implications.
Paper P3
* Internal/External analysis. A core area of the syllabus and could be based around a number of key models all of which may be used to analyse the current position of the organisation. This could be the main part of your section A. The value chain and BCG matrix are included so make sure you are able to work with these models. Ensure that you can undertake analysis of a business’ current position and performance using ratios as this is increasingly an element of P3.
* Generation and evaluation of strategic options. Leading on from an initial analysis of a business you may be asked to offer advice on the best options in light of the current position or having been informed of an issue an organisation is facing.
* Project management. Most business decisions result in projects being initiated. This is an important area of P3 and although we have seen this before there are a number of ways this area could be examined.
* Business processes and Change management. Although seen in previous sittings this could be part of a requirement. This could incorporate changes to both upstream and downstream supply chains.
* Quality. A popular area of the syllabus that has featured in a number of sittings. We have seen the key models examined in recent sittings. The importance of quality may see it included as a part requirement or underpinning a business decision.
* Marketing. Techniques and customer relationship could feature in section B. Competitive behaviour through lifecycle modelling could be an underpinning issue in either section A or B.
* Stakeholders. Identification of stakeholders has been examined previously although you may still see this as a part requirement.
Paper P4
* Role and responsibility towards stakeholders. Ethical issues continue to appear regularly as an optional discussion question, normally with practical financial issues from elsewhere in the syllabus. The discussion question is normally one of the easier optional questions.
* Advanced investment appraisal. The compulsory question often features an NPV question with an analysis of risk. Cost of capital calculations are regularly tested, make sure that you are comfortable adjusting betas for differences in gearing. Real options and adjusted present value are also popular themes, and are normally tested in section B of the exam.
* Acquisitions and mergers. Although this area was heavily examined in December, this exam normally contains a question involving valuations which the examiner sees as a crucial part of the syllabus.
* Corporate reconstruction. This is a topical area; a question could also ask you to evaluate a capital reconstruction e.g. a business that is considering offering its creditors shares in order to enable it to survive.
* Advanced risk management. We would expect to see a numerical risk management question featuring either interest rate or exchange rate hedging. Foreign currency derivatives are due to be tested numerically; the new examiner has indicated that questions may well ask you to compare the results of a hedge using a number of different hedging techniques.
Paper P5
* Scope of strategic performance measures in the private sector. Analysis of financial and non-financial performance; this could include the use of activity-based approaches or learning curves, and strategies to improve performance.
* Divisional performance and transfer pricing issues. ROI, RI , EVA or even ABC could feature here; transfer pricing could feature as an aspect of these questions.
* Problems with budgeting. Budgeting has been a favourite essay question with your examiner, especially an awareness of the problems of budgeting but was largely unexamined in 2009.
* Alternative views of performance measurement. The examiner often includes a question to evaluate an organisation against an established theoretical model. The balanced scorecard, performance pyramid and building blocks have all appeared in previous exams.
* Performance hierarchy. Linking strategic decisions to mission statements or suggesting strategic options using models such as Ansoff’s matrix or the BCG matrix lend themselves to questions containing a mixture of financial and discursive elements that could easily include a simple NPV or profit analysis.
Paper P6
Income tax:
* Pension contributions – tax relief
* EIS/VCT schemes
* Income tax losses
* Accrued income scheme
* Personal service companies
* Termination payments
* Share schemes
* Overseas aspects for individuals
Capital gains tax:
* Small part disposal of land
* Takeover/reorganisations
* EIS reinvestment relief
* Damaged/destroyed assets
* Leases/wasting assets
Inheritance tax:
* Death estate, treatment of lifetime gifts
* Quick succession relief
* Gifts with reservation of benefit
* Variation of will
* Payment of IHT
* IHT implications of transferring property into a trust
Corporation tax:
* Research and development
* Intangible assets
* Liquidation/winding up
* Consortium relief
Value added tax:
VAT groups
* Imports/exports
* Partial exemption
* Treatment of VAT on disposal of buildings
Ethics
Paper P7
* A risk-based and/or planning scenario in the compulsory section
* Questions based on articles published in Student Accountant in the past six months – such as the article on Going Concern from February 2010
* A number of requirements asking for audit procedures and required evidence in respect of specific financial reporting issues
* A practice-based scenario looking at professional, ethical and quality control issues
* A reporting scenario of some sort – probably testing either emphasis of matter or other matter paragraphs
* Legal and regulatory issues affecting assurance providers, especially in the context of firms’ professional liability and the UK Companies Act 2006
* Specific procedures for obtaining evidence (such as analytical procedures and other ISAs that have changed following the Clarity Project) and evaluating the quality of audit work carried out, both for components and groups
* The requirements of other forms of assurance engagement, such as Value for Money (VfM) studies or agreed upon procedures
* The correct treatment of more complex accounting issues (such as employee benefits and adoption of IFRS) than has been seen before
* Specific ISAs may be examined in sufficient detail to warrant learning the key elements for regurgitation in the exam, such as comparatives (ISA 710) other information (ISA 720) or opening balances (ISA 510)
* Discrete topics that we have not yet seen such as questions using the context of internal audit or examples of other non-audit engagements
* The need to understand current issues such as globalisation, the impact of the recession on auditors, corporate governance, risk management and auditor liability – especially relevant in the context of the going concern article from February 2010
ACCA EXAM, ACCA EXAM TIPS, ACCA JUNE 2010 EXAM TIP, ACCA DECEMBER 2010 EXAM TIP, ACCA JUNE EXAM TIP, ACCA DECEMBER EXAM TIP, PASS ACCA, ACCA PILOT PAPER, ACCA MOCK EXAM.
DISCLAIMER : All these tips are not provided or created by me, I'm solely sharing the tips thus any damages caused will not be held liable on me.
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website, BPP Exam Tips
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June 2010 ACCA Exam Tips
ACCA Exam Dates for June 2010
Good luck in ACCA Exam June 2010
Exam timetable for ACCA Exams June 2010
07 June2010 (Mon)
F6 Taxation / P6 Advanced Taxation
08 June 2010(Tue)
F4 Corporate and Business Law / P7 Advanced Audit and Assurance
09 June 2010
F3 Financial Accounting / F8 Audit and Assurance
10 June 2010
F9 Financial Management / P4 Advanced Financial Management
11 June 2010
F2 Management Accounting / P5 Advanced Performance Management
You have 2 days to rest before the start of new paper in ACCA Exam June 2010
14 June 2010(Mon)
F5 Performance Management / P1 Professional Accountant
15 June 2010 (Tue)
F7 Financial Reporting / P2 Corporate Reporting
16 June 2010 (Wed)
F1 Accountant in Business / P3 Business Analysis
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Artichoke Good For Digestion Problems
"From Alpha Times"
- Bitter ingredient will not be found in the hearts of artichoke instead you will find it at the leaves (6% bitterness)
- Bitter taste stimulate the flow of bile, leads to bitter digestion of fat.
- Bitter taste is lost when the artichoke is cooked
- Artichoke leaves have positive effect on loss of appetite, high cholesterol and vascular disease.
- Gall bladder problem patients should consult doctor before consuming artichoke or any artichoke products that is available in the market.
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真愛，就不要等，除非是不想結婚
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男孩也好女孩也好，一起看看幾米的讀白吧......
1.很清楚的知道她不合適自己，可是更確定的是他不會主動說分手。
他只是耗著等著，直到有一天女生自己受不了忽冷忽熱、若即若
離的態度，或是等到年華老去不得不下決定時，自己選擇離開。
妳的主動離開，我沒有負心，反而是尊重與成全妳的決定。
2. 半年後發現，他居然可以跟一個只認識三個月的女生步入禮堂，
令她晴天霹靂，才明白他不是不想結婚，不是真的不婚主義者，
說穿了只是他不想跟妳結婚。八年的愛情長跑比不上三個月的感情。
3.
這位故事中的男生是我的朋友，現在也已經結婚半年。
當他聽到劉若英的「後來」，居然會無法克制的流眼淚，想起
的是他交往八年的前任女友。
為什麼會難過，因為妻子身上有著前任女友的影子，
他才明白其實他喜歡的就是這種類型的女孩。
4.
可是人往往很矛盾，
喜歡她的倔強與有性格，卻受不了她的嬌縱。
喜歡她的落落大方，卻受不了她的朋友一堆；
你愛她的小家碧玉，就不要怪她不夠大方；
你愛她的活潑大方，就不要批評她像花蝴蝶一樣。
戀愛談的愈長，結婚的可能性就愈低，
所以有時候戀愛的長度與結婚的可能性成反比。
5.
喜新厭舊是人性，日子久了，會結婚不是為了愛情，而是責任
感的驅使。婚後的他才慢慢的發現，當時的那一段感情其實不
是不愛，是時間太久了太長了，把愛情給磨掉了，再遇到另一
個女孩點燃了愛情的火苗，星星之火足以遼源，把枯竭已久的
愛情給予生命，所以倉促的決定結婚。
等到真的結婚後，愛情降了溫，才慢慢的發現其實妻子的身上
有著許多前任女友的影子，他比較愛的人其實還是前任女友，
可是他娶的卻不是她。
這樣的情節不知道是不是也在別處同樣上演著？
6.
學生時代的愛情很單純，出社會以後總想等工作穩定以後再結
婚，工作穩定以後又想等有一點積蓄買車子、買房子以後再結
婚，等著等著，等到愛情被時光給消磨，等到第三者介入點燃
了對方心中激情的火苗，乾柴烈火不可收拾以後，曾經在年少
一起織夢的理想全都抵擋不了新鮮感的激情，所以琵琶別抱，
到最後步入禮堂的都不是在一起同甘共苦、共同經歷過寒、暑
假，等當兵的人。
7. 所以奉勸各位女孩子，
如果對方真的是你想結婚的對象，不要想著有房子有車子有金
子，有了一切再結婚。
現實是，等他有了一切，他的身價暴漲是有價值的單身貴族，
他必需要面臨的是更多的誘惑，妳長久以來的等待與年輕時許
下的山盟海誓都難以抵擋誘惑排山倒海的來。
就像我現在若不嫁他，非得等到他有車子有房子還有存款時再
結婚，那時新娘有極高的可能不是我。
因為要等到什麼都有還要幾年？
?
有能力的男人就像酒愈久愈香醇，女人則像麵包一樣有賞味期
限，青春是女人的天敵。
如果我是他，等到我三十五歲，什麼都有是個有上千萬身價的
黃金單身漢，我並不需要一個很有能力而年過三十的女人來幫
襯我，我寧可選個如花似玉，年輕貌美的女生，也許沒有什麼
工作能力，至少發揮了賞心悅目的功能，一個真正有能力的男
人，不會在乎一個女人是否能在他的財富上加乘。
遇上對的人，莫等待莫蹉跎，也許沒有房子沒有車子，只要他
認真上進，他就是張有潛力的積優股，早點進場獲利更高。
8. 也提醒各位男士，
如果對方真的是你想好好疼愛的女人，別讓她等太久，
有她一起陪你奮鬥應該是很美好的一件事除非你心中有其他的想法，
否則別讓愛情等太久，把真愛都磨掉了！雖然聽起來很殘忍,但
身邊的家人朋友都有類似的例子。
真愛，就不要等，除非是不想結婚......
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Brown sugar + Ginger Tea (黑糖薑茶)
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黑糖薑茶
(女人一定要看，男人就寄給你的女性朋友吧！)
小時候，著了涼，一流鼻涕，母親就連忙用老薑加黑糖煮成薑湯給我喝。甜甜辣辣的，趁熱大口大口喝下去，再蓋著被子發一場汗，感冒便不藥而癒！我因生產多又密集，一年一個，有一年還生了一對雙包胎，把身體弄壞了。平常經常頭昏眼花，而每個月好朋友來了，頭痛、肚子痛，量又多一拖就是十天半個月。看了許多中西名醫，均束手無策。病看不好，花錢受罪，一氣之下，乾脆不理他了。
後來祖母教我在月經來時，不妨用黑糖和老薑煮水喝喝看，她特別強調多喝無害，黑糖能活血，薑是熱性的食物，在故鄉，婦女做月子都要吃些黑糖。老奶奶的話姑且聽之，月經來時，就猛喝黑糖和老薑煮的薑茶，想不到，小腹慢慢不痛了。好朋友量也少了，當然頭痛也消失了，比吃藥還有效呢！黑糖和老薑不但能治病，在寒冷的冬天喝上一碗，渾身冒汗、舒暢無比，這種偏方花錢少，又無副作用，何妨試試！
※ 黑糖紅豆湯 女性的好朋友黑糖能活血，紅豆能補血，故婦女月經來時或前後吃一些黑糖紅豆湯，會讓經期更順及減少疼痛，比使用藥物控制效果好。這種偏方花錢少又無副作用，不妨試試！
-----------------------TRANSLATED INTO ENGLISH-----------------
Brown sugar + Ginger Tea
When I was young, I was easily to get cold & running nose. My mother will cook old ginger & brown sugar tea for me to drink.
It tasted sweet & a little bit spicy. After drinking this tea and cover with a blanket it made me sweat and cure my cold & running nose.
Every year I born a baby and even there was one year I born a twin. Due to too frequent on delivered baby, my health was badly affected.
I always feel dizziness. Every month during my menstrual, I feel headache, stomachache and my menses volume was large and the period was long
from 10days to 2 weeks. I seek for Western doctor & Chinese Physician’s advices but it does not help so I tend to give up & let it be.
After that I grandmother ask me to try for old ginger & brown sugar tea. She emphasize that its harmless if drink more because brown sugar help
blood circulation and old ginger will warm up our body. Traditionally confinement lady should drink a little bit of brown sugar water.
I take my grandmother’s words and during my menstrual period I drink a lot of old ginger & brown sugar tea. Out of my expectation, my stomachache was reduces,
my menses volume & headache also reduces, it was more effective than taking medicine. Ginger & brown sugar tea also can be drinks during cold winter which
help to kept us sweat & warm. It was cheap & does not have any side effect. Why not try it.
** For ladies, during your menstrual period you can try for Brown Sugar Red bean soup, brown sugar help for blood circulation and red bean recover for your blood loss.
Drinks this brown sugar red bean soup during & after your menstrual period it help to smooth your period & reduce pain. This is better than taking medicine as it does not have any side effect and was cheap.
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Dictionary Updates by Oxford (Jokes)
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**Divorce: Future tense of marriage.
**Cigarette: A pinch of tobacco rolled in paper with fire at one end & a fool on the other.
**Lecture: An art of transferring information from the notes of the lecturer to the notes of the students without passing through 'the minds of either'.
**Conference: The confusion of one man multiplied by the number present.
**Compromise: The art of dividing a cake in such a way that everybody believes he got the biggest piece.
**Tears: The hydraulic force by which masculine will-power is defeated by feminine water power
**Conference Room: A place where everybody talks, nobody listens and everybody disagrees later on.
**Classic: books that people praise, but do not read.
**Smile: A curve that can set a lot of things straight.
**Office: A place where you can relax after your strenuous home life.
**Yawn: The only time some married men ever get to open their mouth.
**Etc.: A sign to make others believe that you know more than you actually do.
**Committee : Individuals who can do nothing individually and sit to decide that nothing can be done together.
**Experience: The name men give to their mistakes.
**Atom Bomb: An invention to end all inventions.
**Diplomat: A person who tells you to go to hell in such a way that you actually look forward to the trip.
**Opportunist: A person who starts taking a bath if he accidentally falls into a river.
**Optimist: A person who while falling from Eiffel tower says in midway 'See, I am not injured yet.'
**Miser: A person who lives poor so that he can die rich.
**Father: A banker provided by nature.
**Criminal: A guy no different from the rest....except that he got caught.
**Boss: Someone who is early when you are late and late when you are early.
**Doctor: A person who kills your ills by pills, and kills you with his bills.
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Ghost of Michael Jackson?
Unbelievable! There is a ghost figure running around while CNN is having a news report about the Neverland!!
How true is the matter?? You tell me...
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Meteor shower tonight
My friend said only Johor and Singapore able to watch the meteor shower....We can still try to see the meteor shower as I don't think the universe is that unfair =P
Universiti Sains Malaysia’s Astronomy Atmospheric Science Unit lecturer Assoc Prof Dr Chong Hon Yew said that according to the International Meteor Organisation (IMO). the meteor shower is expected to be best viewed from 1.30am to 4am on Thursday.
“The shower could have started on July 24 and is expected to be observed until Aug 17.
“It is however predicted that during the peak viewing time (Thursday morning), the moon will be high in the sky, outshining the fainter meteors.
“There is a good chance for observers to spot the brighter meteors however,” he said on Wednesday.
Source
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