Info about Sheffield Hallam University
course dates
20 june - 23 sept 2005
course fees
£1974 + £300(accomodation)
include:-
14 weeks tuition and support (exam)
course manual and material provided by tutors
uni facilities include library and computing facilities (except sports)
transport from/to uk airport to sheffield on arrival and return to malaysia(conditions apply)
exclude:-
daily living cost
required textbooks
transport in sheffield
incidental printing
entertainment
additional travel
uni sports facilities
health and possession insurance
course structure
compulsory
financial decision making
business strategy and management accounting
option
corporate finance
corporate reporting
further information
shu website
formal consideration of applications, english languague test, pre- course briefing and personal interviews for some candidates will be carried out at tar in week commencing monday 7 march 2005
tips for 3.1
*Q6 - Conceptual Framework (Independence) vs Rule-driven approach
*Environmental reporting with narrative reporting
*Biz risk approach to auditing - Discuss the impact of this approach to
auditors
The others are not exacty tips but general things to look into.
Q4 - Audit report
- Appropriateness
- Shortcoming - what is wrong with the report?
- Factors to consider
Q5 - Ethics Q
- Professional issue - Consideration of risk, materiality,
staffing,
etc
- Ethical issue - Close relationship
If examiner ask for professional issues only, then it also
includes
ethical issues.
Q1 - Audit & Biz risk - control
Q2 - Risk
- Assurance service (Prospective Financial Information - PYQ)
- Positve/Negative opinion
- Level of assurance
- Timing
Q3 - Like usual but pay attention to the revised stds - applicable to
3.1
- IFRS 3 (including goodwill)
- IFRS 5
- Research and development
If got free time, read this from his class notes - Ethics
-
Conceptual
Framework (FASSI)
this is a tips by my friend where she got it from a sunway gal:)
hot topics analysis for 3.1
The oct 04 article is important for Q6. Must do. Q4 is tough so if you can do Q6, then don't do Q4. Q4 is techical and there's no fixed format to answer it.
a) Business risk/Audit risk identification (see past exam). Using the headings in the latest ISA 315 to describe risks. (see item i) below)
b) Group audit and acquisition (read latest Nov 04 article by Kim). Impact of an acquisition on the audit (see past year exam like Pilot Q1, Dec 2001 Q1). Include audit strategies like directional testing.
c) Legal liability – Legal cases on third party liability, duty of care, insurance (PII and FGI) and defenses used by the auditor
d) Accounting problems/issues - Important areas include deferred tax, leases, related parties, borrowing costs, stocks, earnings per share, reporting the substance of transactions, impairment of assets, plus agriculture.
e) Ethical issues facing the auditor - independence, conflict of interests, offering consultancy services to audit clients and confidentiality.
f) Ownership of documents/books and working papers
g) Reporting – The usual Q4.
h) Describe recent trends in IT and their current and potential impact on auditors.
i) Latest risk standards ISA 315, 330 and audit evidence ISA 500. See article in October 2004 (for current issue Q6).
Tips for paper2.6
Tips from BPP
Paper 2.6 Exam Tips
ACCA Paper 2.6 Audit & Internal Review (International Stream and UK Variant)
December 2004 Exam Tips
The following list is an idea of the type of question 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 (2004 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).
The examiner is not shy of covering the syllabus so do remember that the best way to ensure exam success is to have a reasonable spread of knowledge across the whole syllabus.
• Internal audit/ Internal review – You should anticipate at least one question from an internal audit/internal review perspective. 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) (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 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: Q35 Springfield Nurseries, Q39 Goodfoot & Q41 Villawood Computers)
• Systems and controls – Again this topic will be included in the exam in some format. 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: Q30 Cosmo & Q26 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. (P&R kit practice: Q16 EWheels & Q17 Nepco, Mock exam 1, Q1)
• Professional ethics – This is a core area not examined at the last sitting. 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 sitting. (P&R kit practice: Q50 Audit and Review Reports, Q51 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.
Please note the examiners deliberately try to discourage question spotting. Just because a question featured last time that 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 this in the exam.
Relevant Articles from the Student Accountant magazine (or ACCA website)
• 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
• Divided opinion
Kim Smith, 5 November 2002.
• 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
TIPS from LCA
Paper 2.6
1. Independence & confidentiality
2. Audit report qualifications
3. Accounting treatment & audit work (Research & development)
4. Controls & tests – sales system
5. Audit evidence – reliability
TIPS from FTC
paper 2.6
1. ethics (objectivity/conflict of interest)
2. planning (audit risk identification)
3. controls (purchases/fixed assets/debtors)
4. review (goin concern)
5. reports (practical scenarios)
6. internal audit (work they do/ VFM reports)
2.6 Audit and Internal Review ( FTMS )
Main topic areas:
• Internal audit, maybe linked to corporate governance
• Substantive testing: fixed assets, bank & cash,
• Controls: purchases
• Risk and planning
• Ethics
• Reporting
• Management representations and other confirmations
• Going concern
• IT and auditor
Tips for paper2.5
tips from BPP
Paper 2.5 Exam Tips
ACCA paper 2.5Part 2 - Financial Reporting
December 2004 Exam Tips
For each area described, please note the reference to useful questions from BPP’s Practise and Revision kit (P&R kit).
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 profit & loss account and usually includes a related discussion element. (P&R Kit Q43, Q1 mock exam 1, Q44, Q48, Q53).
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:
• The first question will be preparation/restatement of a profit & loss account and balance sheet. This question normally requires adjustments for depreciation, tax and dividends. Others may relate to debt factoring, finance leases, capital instruments and stock (P&R Kit Q4, Q5, Q2 mock exam 2).
• The second question will be a written question examining theoretical/conceptual areas or accounting standards. FRS 5 and SSAP 21 could feature in this question this sitting (P&R Kit Q30, Q5 Mock exam 2).
• The third question is likely to examine interpretation and/or cash flow statements. There could also be a discursive part on the need to disclose related parties and transactions. (P&R Kit Q58. Q4 mock exam 1, Q4 mock exam 2, Q26, Q28).
• 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: FRS 3 & 4 and SSAP 4 & 13. (P&R Kit Q9, Q17, Q32, Q34).
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 for areas to have a good look at, but remember that no one know what’s in the exam apart from the examiner. Your safest bet is to ensure good syllabus coverage in your revision, as the examiner aims to do in the exam.
ACCA paper 2.5
Part 2 - Financial Reporting
Relevant Articles
How to approach performance appraisal questions Steve Scott April 2004
tips from LCA
Paper 2.5 (International)
1. Consolidated income statement
2. Prepare financial statements
3. Accounting policies, changes in accounting estimates & errors (IAS 8)
4. Non current assets held for sale & discontinued operations (IFRS 5)
5. Interpretation of financial statements
6. Earnings per share (IAS 33)
Tips from FTC
paper 2.5
1. CBS & CP&L
2. Published account EPS
3. FRS 11 / Fixed assets
4. Interps and cashflow
5. FRS5 /FRS8
2.5 Financial Reporting ( FTMS )
• Consolidated Balance Sheet with Consolidated Income Statement - including fair value adjustment, unrealised profit on intra-group sale, goodwill and minority interest computation etc.
• Redrafting/preparation of financial statements including adjustments on various FRSs
such as FRS 8 (changes of accounting policies), FRS 12 (deferred tax adjust), FRS 16
(revaluation reserve), FRS 38 etc.
• Theoretical issues on two/three FRSs with mini cases to test understanding. Including
FRS 36, FRS 37, FRS 38, etc.
• Performance appraisal - ratio analysis with report
Tips for paper2.4
Tips form BPP
Paper 2.4 Exam Tips
ACCA Paper 2.4 FMC
December 2004 Exam Tips
Anthony Head is the examiner for FMC and December 2004 will be his fourth exam in that capacity. He has set exams which are fair and focused on the core areas of the syllabus.
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 June 2004’s exam it is likely that working capital will come up in December:
Stock management (EOQ and JIT systems)
Cash flow forecasts
How to manage cash surpluses
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
Sensitivity analysis
Payback period (PBP) calculations
Differences between NPV and PBP
Performance measurement – Return on investment v Residual income
Throughput accounting (possibly in conjunction with a question on JIT)
Mix and yield variances – calculations and narrative
Tips from LCA
not available yet
Tips from FTC
paper 2.4
compulsory question
long term finance, to incluge gearing ratio and general financial management of a company
choice question
1. budgeting (possibily budgetary control, include forcasting)
2. varriances (essay question)
3. working capital management (especially debtors and stock)
4. investment appriasal; NPV to include tax and possibily asset replacement (equavalent annual cost)
2.4 Financial management and control ( FTMS )
• Investment appraisal: npv and incorporating risk, replacement policy, npv incorporated with stock management
• Working capital management: stock, cash management
• Sources of finance: valuing bond and valuing shares (dividend valuation model), rights
issues, performance measurement (ratio analysis), sources of finance for SME's
• Costing: marginal vs absorption costing, possibly something on pricing methods (cost
plus vs target costing etc)
• Budgeting: flexible budgets, cash budgets, human aspects of budgeting
• Performance measurement: divisional performance measurement, financial vs non
financial measures
2.4 FMC ( Chow Kim Tai)
Question 1
- Investment appraisal and working capital
Question 2 to 5
1. Investment appraisals
-Lease v Buy Decision
-Replacement Policy
-Sensitivity Analysis
-Probabilities(expected value)
2. Working capital management
-Debtor mgt
-Stock mgt
-Cash budgeting
3. Sources of finance
- shares,debentures and derivatives in aspects on methods of issues and valuation methods
- SME financing and EMH (focus on suggesting various sources of finance or comparing 2 different source of finance )
4. Budgetary control
- everything except time series
- might include performance measurement
5. Decision Making
-Pricing Decision,Target costing and life cycle costing and throughput accounting (with limiting factor)
tax 3.2 (mys) tips 'updated'
alan yeo
- labuan
- trust
- estate
- export - MITC
- personal , individual
- admin- record, return, payment
- RPC, para 17, Basic period
Choong Kwai Fatt
Incentives
Allowance for increase export - MITC, Manufacturing co + Agriculture, Service Sector
Acquisition of foreign owned company
Acquisition of proprietary rights
Agriculture company - Schedule 4C and deduction for cost of Investment
Labuan
Cost of developing websire and approved offshore trading
Individuals
Personal finance
Joint assessment with partnership
Islamic finance
Resident status, 60 days test
business venture
self assessment
adventure in the nature of trade
double taxation agreement + withholding tax
Companies
Imputation system
Investment holding company, unit trust, close end fund
restructuring
dividend payment planning
asset acquisition planning
derivation of business income
tax planning for overseas sales
controlled transfer
interest expense
Co-op , charitable institution, Club
Tax admin
tax evasion tax avoidance
anti tax avoidance
RPGT
rpc
para 12
para 3 (b)
para 17
reinvestment allowance
incentive discussion
FTMS lecturer (Siva Nair).
just use it as reference.
1.RA + MITC (sure coming out)
2.Labuan (spotted by all lecturers...high possibility)
3.Joint Assessment /Separate Assessment (spotted by kwai fatt also)
4.RPGT (according to FTMS lecturer,he said cant depends on the past analysis to determine whether examiner will set RPGT questions or not..also must prepare for the RPGT questions)
5.trust (long time no come out)
6.Property Developer
FIFTY THINGS TO DO TO GET YOU THROUGH THE EXAMS
FIFTY THINGS TO DO TO GET YOU THROUGH THE EXAMS
It does exactly what it says on the tin.
Make your script attractive; leave a line between paragraphs. That way you are subconsciously asking the marker to give you a mark for each paragraph, saying this point is worth a mark. It also helps to prevent you repeating yourself and focuses your mind on picking up the marks.
Time management is key to success. Put a clock on your desk at home when you do a mock exam. This will give you the discipline to stop when you should. Candidates always spend only two minutes summing up - it takes at least seven, and this makes the next question more time-pressured.
Go to the toilet before the exam, whether you feel like it or not. It will put your mind at rest that you have done it. Remember, you can waste much time in a big hall waiting for an invigilator to take you to the toilet. If you are struggling for time before you've just lost another five minutes.
You should sit a minimum of three mock exams before every exam. Four is better.
The exam time is inelastic, it won't change. Don't think the paper is too difficult and that if only you had another 15 minutes you could turn this paper into a pass - it won't happen. You don't need to finish each question, just attempt every part of each.
Don't stay up too late the night before and set two alarm clocks for the morning of the exam. You must have heard the story of the student who phoned the ACCA to ask what subjects had featured in that morning's paper. She had stayed up late studying and then overslept. The student wanted to know what topics were in the exam paper so she could tell her boss how hard it had been and how she expected to fail, so the company would pay for a re-sit.
Find out where the exam hall is taking place. One student phoned the ACCA in a panic because he couldn't find the exam room. He had gone to college expecting the exam to be held there - duh!
The marker is human, they detest small diagrams, you've got an A4 page... use it.
Exam candidates who leave the exam early have less chance in passing. Remember: time is king.
Your tutor is there to help, ask them questions.
Sleep with your tutor (a suggestion from a tutor!). --- better don’t do this,it won’t help !
Pray to your God for help.
Take the dog for a walk, relieve the stress.
Get the cost of capital formulae tattooed on your arm.
Throw away your manuals.
Throw darts at a picture of the examiner.
Spread a false rumour about the scrapping of a key topic.
Post off the entry to the exam hall (we hear that helps).
Take some sickkies so you can do some extra revision.
Read exam tips.
Always carry some pre-folded paper to use as a wedge under a wobbly desk.
If planning to use earplugs make sure you sit your final mocks with earplugs as well. Otherwise the sensation will be new and unusual (like being able to hear yourself think)
Don't fall into the trap of thinking that an exam always finishes on the hour if that is how the mocks were timed. The real exam might finish on the half hour and there have been many otherwise sensible people fooled into finishing an exam 30 minutes earlier than they need to (in one blonde tutor's case this happened twice!).
Take milk and bread into the last exam... to line the stomach for when you hit the booze straight after.
Ask for more paper/booklets at the start so that you are not waiting for the geriatric invigilator at a critical moment.
In written papers ask for graph paper in a loud voice to cause confusion among others.
Wear lots of layers... it might be too hot or too cold.
Play battle music if travelling to the centre by car - the Ride of the Valkyries, perhaps.
Take a torch with you in case it's too dark for your solar powered calculator (real story).
Always make sure you have plenty of cash with you on the day of the exam. This way if the trains mess up you can jump in a taxi and make it to the exam hall on time.
When starting a question note on the question paper the time you should finish it: knowing it should take 45 minutes is no use it you can't remember what time you started the question.
Only wear skimpy clothes to put off candidates of the opposite sex- but only if you are sure the exam hall isn't air-conditioned.
Don't forget to keep turning the pages - if not you might miss out a question on the back page (one unfortunate tutor was talking from personal experience, luckily in a mock exam).
Arrive early, but don't mix with nervous characters. Keep your own counsel.
If blind panic sets in, flex a big muscle - like your thigh - by picking up your leg and swinging it forwards and backwards. This action kick-starts the 'fight or flight' mechanism the panic created in your body and enables you to calm down more quickly.
Keep thinking: 'This qualification is worth having.'
Be active in the exam. Drive on and on, and always remember, you only need to get it half right.
Save your writing hand - carry bags, etc, in your non-writing hand on the morning of the exam.
Remember that for the exam you need a spare pen, pencil, rubber, two coloured pens, Tippex, 12-inch rule, eraser and calculator. Also remember your exam notification and have proof of identity.
Leave huge gaps after questions, you will finish your booklet quicker and panic other students when you ask for another. Other students who request another booklet early have been leaving huge gaps!
Do a dummy run if you're going to an exam hall you've not been to before. Go on the same day, same time, one week before. Don't go at 8 o'clock on a Sunday morning!
Switch your mobile phone off and make sure you leave all your notes in your bag, not in your pockets.
Remember, the examiner won't mark you down if you have a different view from him. He wants reasoned arguments supported by logic.
Don't always start with question one just because it's first. Choose a topic you are comfortable with to help get you into the right way of thinking.
If a question has several unrelated parts tackle the shortest part first, rather than doing them in order. You are more likely to run over time on long sections which will lose you lots of easy marks by not getting the chance to tackle the other shorter requirements.
Do not start to write until you are certain you know what the examiner is after. Many students miss the point of the question by rushing in too quickly.
Expect there to be areas in the exam that you will not be able to answer.
If you are not attending a course or getting mock exams marked for you, ask someone that has passed professional exams to mark questions for you. The feedback, especially on written questions, will be invaluable.
Decide before the exam what type of personality you are. Know your strengths and weaknesses so that you can focus on questions that highlight your strengths rather than picking questions purely on technical grounds; for example, written versus computational, or which section to tackle first. Written marks can still be picked up even if you cannot do the computational areas. Keep writing - you will not gain marks for a blank piece of paper.
Don't panic! If your brain goes blank this means that you are stressed, so sit back, breath deeply and think of something you enjoy. Then go back to the paper and start looking at the easiest question first.
========================================
thanks to yan er for sharing this tips with me and i share it here with you
tips again
please visit this website for more information
passmagazine
and select the box call tips reloaded.. you will see the latest acca tips
SHU briefing
please be inform there would be a briefing from SHU summer top up program.if you are interested
venue: College hall, first floor
Time:2.00p.m.
ftms kl tips for paper 3.3
decision making-relevant cost (short term decision / investment appraisal)
decision criteria (maximax, maximin, minimax regret) pricing decision
performance measurement everything execpt transfer pricing
new management accounting techniques - troughput and backflush accounting, ABM/ABB, target costing and life cycle costing
JIT, TQM, BPR, contingency theory, institutional theory
management accounting system - awareness on MIS
Strategic planning
dear coursemate, if you are wondering what is kwai fatt tips actually the tips is from FTC which i've already posted last week and you do not need to go to kl to copy the tips. if you want please check the link which i've posted.
the exam docket
some of your exam docket have arrive please go to the sbs office to collect it.
if you have not receive it do not worry. jus go online and print out your duplicate exam docket.
that is you login to myACCA the link is at the side bar there
and key in your acca number and also your passcode.
your passcode is the one you received during the registration of acca. or you can find it in the annual subsription letter also.
My appology
I really do not know why Mr chong decided not to cancel the class..
so it is on as usual. but those who want to get notes from me i would not be around la. i would only be around in next monday.
and there is no tips from ckf till now. if you all want the tips you all e-mail him okie?
Preparing for you examination - advice from ACCA
Dear XXXX
By the time you receive this e-mail you are probably already busy revising for the exams in December. However, the advice below may help you with your exam preparation.
- Don't forget to visit www.accaglobal.com/publications/studentaccountant for technical articles, exam notes and examiners feedback.
- Practise your exam technique and check out past exam papers and model answers at www.accaglobal.com/students/professionalscheme
- Don't leave your revision until the night before the exam. If you have planned your revision properly you should be able to take things easy the night before the exam.Make sure you have everything you need ready for your exam the following day and get a good nights sleep.
- Make sure your details are correct on your exam docket (contact ACCA Connect if not) and remember to take your exam docket with you to the exam centre.
- Don't forget to take your student registration card to the exam centre too.
- Ensure you know your way to the exam centre before the day of the exam and allow yourself plenty of time for the journey - aim to arrive 15 minutes earlier than you need to.
- When in the exam, read each question carefully and make sure you answer the question asked and NOT the question you were hoping to be asked!
- Plan your answers and allocate time according to the number of marks for each question.
- Show all your workings and calculations.
- Remain calm and think positively.
We wish you all the best with your exams.
ACCA Student Services
http://www.accaglobal.com
Share your tips and guidance
dear friends,
if you wanna share your tips and guidance please e-mail to teechong that is me so that i can post it on the website lo.
e-mail teechong
this is an information sharing age. so do not be shy to share anything you got and you might gain much more in return.
thanks
hey guys if ur interested in audit short note by choong kwai fatt.. please click the following link okie?
audit short notes
acca exam tips community
if you are interested to see more exam tips yourself you can visit this community
Exam tips
it is the hotest spot where a lot of ppl from all over the world go there and search for tips:P
if you are free you can go also..
but anyway if i got any tips i'll tell you guys also ler....
exam tips from London college of accountancy
i do not know how accurate is the tips..
AccA exam tips
please visit the site for more information
Tips for paper3.4
Tips from BPP
ACCA Paper 3.4 Business Information Management
December 2004 Exam Tips
For each area described below, please note the reference to useful questions from BPP's 2004 Practice and Revision kit.
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 2004 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 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)
Soft Systems Methodology, as this has not appeared on the 3 most recent exams (Q55)
tips from LCA
Paper 3.4
1. BCG model
2. Alignment of business information strategies
3. Internet and e-commerce
4. Knowledge management
5. Value chain analysis
tips from FTC
paper 3.4
1. EIS
2. ethics -
examiner aritcle july 04
3. knowledge management
4. data warehousing
5. outsourcing
6. software
7. cost benefit analysis
8. benefit of is strategies
9. E-commerce and veritue supply chains
10.value chains
11.project risk and cause of system failure
12.commitment, co-ordination and communication
Tips for paper3.3
Tips from BPP
ACCA Paper 3.3 Performance Management
Dec 2004 Exam Tips
Question 1 is likely to be a scenario-based question on profit calculations with some statement required. There may be an emphasis on pricing or sensitivity analysis, requiring you to show analytical skills. It may be time for ratio analysis to appear, as it hasn’t for a few sittings. The question may develop into a discussion of other relevant issues to consider, for example: further information you would like, NFPI’s or management action to be taken in the future. Practice questions 35 Cognet plc, 41 Scotia Health Consultants and 65 Scos Ltd from the 2004 Practice and Revision Kit.
Question 2 could follow the format of June 2004 and develop the scenario given for question 1. A likely focus of this question is performance measurement using specific models (e.g. Fitzgerald and Moon). It will always require the candidate to focus on non-financial indicators and may bring in non-profit making organisations. Practice questions 42, 34 and 38 from the 2004 Practice and Revision Kit.
Section B question are likely to comprise
Activity Based Management -new area to the syllabus since June 2004 (practice
question 7 from the 2004 Practice and Revision Kit).
Strategic Management Accounting- examined in the last two exams (practice question 2 from the 2004 Practice and Revision Kit).
Environmental Management Accounting is a new area and there was an article written in January 2004 by the examiner.
Long term decision making perhaps using NPV’s and/or risk and uncertainty
Management Information Systems (examined in nearly all exams thus far so practice
questions 17 & 20 from the 2004 Practice and Revision Kit).
Please note 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.
tips from LCA
Paper 3.3
1. Environmental accounting
2. Relevant costs
3. Performance measures
4. Activity based techniques
5. Backflush accounting
6. Risk in decision making
7. Strategic management accounting
8. Pricing
tips from FTC
Paper 3.3
1. decision making
2. pricing policy/transfer pricing
3. performance evaluation - financial/ non financial and business/non business
4. environmental management accounting -
examiner article jan 04
5. JIT and backflush accounting -
examiner article april 04
6. management control - contingency theory and institutional theory -
examiner article sept 04
changed management
Tips for paper3.1
Tips from BPP
ACCA Paper 3.1 Audit And Assurance Services
December 2004 Exam Tips
Section A
Question 1: Scenario based question on audit risk, business risk, in conjunction with group audit issues.
Question 2: Scenario based question on audit risk, business risk, assurance services or quality control.
Question 3: Audit evidence. Comment on the matters you should consider and the audit
evidence you would expect to find. Three scenarios will cover various accounting Standards.
Section B
Question 4: Part a) wildcard on any syllabus area. Part b) Audit Reports
Question 5: Ethics and Professional Issues
Question 6: Discussion question, so watch out for articles in the student accountant!
Tips from LCA
Paper 3.1
1. Ethical situations & action to reduce risks to independence, objectivity & conflicts of interest
2. Accounting treatment & audit work (IASs /FRSs)
3. Audit report criticisms including impact of IFRS 1
4. Business risks analysis
5. Due diligence engagement
Tips from FTC
Paper 3.1
1. Risk and Assessment and audit strategy
2. Assurance Services - Ethical supply chain management
3. Accounting treatment and audit evidence
4. Audit reports - principles from SAS 160
5. Professional and ethics issue - auditors liability and ways to minimising it/capping /proportionate / liability /LLps
my dear coursemate... the tips that i've post is not tips from ckf..
unfortunately that ckf have not got his tips from uk...
so.. have to wait ler...
Audit exeminer article
Ms Geh request you all taking audit to read the latest article by the examiner for 3.1
Revised group auditing standards by Kim Smith(3.1 examiner)
please pass then message around to your friends.
tomorrow's audit class changed to consultation hours
Ms. Geh had lost her voice and could not be able to conduct the revision class as planned and she changed her revision class time for a consultation session.
so please help me to inform your friend okie? thanks.
Revised time table and venue for the BIM revision class
The followings are details of Mr. Low Kok Han's revision class in TARC:-
| date | Venue | Time |
| 24/11 | DK4 | 9.00am-12.00pm |
| 26/11 | DK4 | 1.00-3.30pm |
Please bring along notes, tutorials, case studies, and past year questions (if any)during the revision class.
Ms. Karen's suggested area of focus for pmt
1. MA framework
- Changes in MA
==>contingency theory
==>institutional theory
-> T1 Q6 &Q7 :contingency theory & institutional theory
-> CD 17 5ed/6ed Extra Q+A
- Trends & developments in MAT & methods
-> T2 Q2 JIT
-> T2 Q4 Abc cost hierarchy
-> Theory of constraint
2. Design of MAS
- T4 Q2: Relevance & neutrality of MAI
- T4 Q1/pilot paper Q1
- SG 7: System design and system objectives
- SG 9: External sources of information (benchmarking needs)
3. Performance Measurement (3Es)
- T3 Q4: TQM program for the MA function
- T5 Q1: Performance pyramid
- SG 12: Financial performance
- SG 13: Non-Financial performance indicators
- profitability ==> efficiency ==> productivity
- T6 Q2 : Inter-university PE
- T6 Q4 & Q10 : Fitzgerald's
- Corporate performance, Divisional performance, Divisional management's performance
- Do all the tutorial questions**
4. Planning and Control
- SMA: CD23(6ed) + Competitor accounting hand out (SG9)
==> SWOT analysis
----->external
>>>>>>>>>>barriers to entry
>>>>>>>>>>PEST
----->internal
>>>>>>>>>>position audit:6Ms
refer to Sean Purcells's article
+ Q&A PQR plc
==>SMA:multinational organisation
-----> refer to Q+A a german company
-----> balanced scorecard
- Budgeting techniques (SG20)
==> learning curves
==> sales and costs forecasting
==> price and demand model
==> inflation - behavioural aspects
==> Hopwood's 3 style
==> SG 21
5. Decision making
- Short run decision ->outsourcing involving scare resources + transfer pricing
- Pricing decision
--> refer to product costing + pricing strategy article by george brown to get an overview
--> different pricing policies
--> how to compete
--> where to compete (ansoff)
--> Short run vs Long run pricing - Relevant costs and benefits
--> opportunity cost
--> avoidable cost
--> future cash flows
--> increamental cost - risk and uncertainty
-->'what if' analysis
--> probabilistic analysis - CVP : point of indifference
- Long run decision making
--> T12 Q6
--> T13 Q2 / Q4
those who are taking pmt you can collect the notes given by ms karen today (3/11) from me in library tomorrow (4/11) from 9.00 - 5.00 pm
or next week 8/11-10/11, 18/11 22/11-26/11.any of these date la.
and please note that there would not be any other revision class from ms karen
Ms Geh's audit revision class
The followings are details of Ms. Geh's revision class in TARC:-
| date | Venue | Time |
| 9/11 | DKB | 10.00-12.00pm |
Please bring along your AccA june 04 paper during the revision class.
tax revision class time table
The followings are details of Mr. chong's revision class in TARC:-
week no./
date | Monday :
4.30p.m. – 6.30p.m.
DK 6 | Friday :
3.00p.m. – 5.30 p.m.
DK 1 |
week 1
25/10 & 29/10 | TARC September 2004 Exam Paper – Discussion & Comments LOC, IHC, Unit trust | Residence status of co., dividends,S.108 tax credit, exempt account |
week 2
1/11 & 5/11 | Cross-border transactions & activities : PE, UTR, BTR, Withholding taxes, NR Relief, subsidiary company & branch,International trading company | RPGT, RPC |
week 3
8/11 | Investment tax incentives :PS,ITA,RA … | No revision class (NRC) |
week 4
19/11 | NRC | Individual taxation, employment income, business income, personal investments |
week 5
22/11 & 26/11 | Specialised industries | special persons |
week 6
29/11 | Miscellaneous (provisional) | NRC |
The time-table may be subject to change(s) as where and when necessary
click here to download the timetable in ms word
tuesday 2/11 audit class cancel
the audit class 2moro is cancel
Briefing on SHU topup programme
the followings are the venue and the time of the briefing on summer top up program at SHU
Vunue: Function room above club house
time: 9.30am
date: 3rd Nov (wed)
