TARC ACCA 2005

Tips again.... source FTC uk

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - FTC UK)


1.1 Preparing Financial Statements
SECTION A (50 %)
25 Multiple choice questions
Will cover all areas of the syllabus

SECTION B (50%)
Longer questions – will include theory and computational questions.
Five compulsory questions will need to be attempted. Each question will carry between 8 and 12 marks,
• Preparation final accounts of a partnership/ company
• Non current assets ledger accounting
• Correction of errors and suspense accounts
• Cash Flow Statements
• Ratios and interpretation
• Accounting theory, Concepts & Standards

1.2 Financial Information for Management
The paper will consist of 25 MCQs of 2 marks each and 5 long questions of 8-12 marks each. The MCQs will vary in difficulty, but the variety will ensure that the paper reflects the syllabus. The five long questions will be a mix of (mostly) calculations and (some) written marks. The vast majority of the marks in this paper will be for calculations.
The nine key areas of the syllabus will make up the bulk of the exam paper:
• Cost classification and behaviour.
• Material, Labour and Overhead costs.
• Absorption and Marginal Costing.
• Process Costing.
• Standard Costing (includes variances).
• CVP analysis (includes break-even).
• Pricing Methods.
• Relevant Costing
• Limiting Factors and Linear Programming

1.3 Managing People
Primary Tips:
• Classical and modern theories of management and structure
• Authority, responsibility and delegation
• Effective Communication Practices
• Objective setting; performance indicators
• Recruitment and selection – Job Description and Person Specification
• The Learning Process – Mumford and Kolb
1.3 Secondary Tips:
• Culture, change and the effect on existing structures
• Management of Diversity/Equal Opportunities
• Individual, Groups and Team behaviour
• Controlling conflict and greivance


Paper 2.1 - Information Systems
Managing information systems
Strategy – short question perhaps relating to reasons for the development of strategy or alignment
IT opportunities – general question in the context of a case i.e. how an organisation may use technology to enhance its position
Costs and benefits – could be a compulsory question relating to the classification of cost and description of an appropriate method to evaluate economic feasibility
Legacy systems – although the March article of for 3.4 and makes no reference to 2.1 in the header useful to read – no past exam question
Project management – potential for a theory question similar to J03 relating to the creation of a plan for the improving time management – also consider terms of reference and PQP.
Designing information systems

Methodologies – explanation of the various development approaches including waterfall, spiral and hybrid – also consideration of the benefits of each approach
Techniques – potential question on either entity modelling or entity life histories.
Case tools – discussion in relation to improving management of the design process, perhaps linked to prototyping and external design.
Evaluating information systems

Security – any aspect but viruses, remote access and legislation seem to be key issues
Quality assurance – and the V model and the improvements which result
Metrics – discussion of the creation to standards to evaluate the success of the systems – perhaps also the explanation of weighted ranking or bench marching.

Paper 2.4 - Financial Management & Control
Investment Appraisal - to include inflation, tax, relevant cost. May be lease Vs buy, possibly capital rationing.
Working Capital - All aspects of working capital – including cash budget, stock and debtors. May also include cash management since the Miller Orr formula has ‘appeared’ on the formula sheet.
Ratios -Could be part of working capital, or more focused towards general evaluation of a company, including long term finance
Budgeting - may include cash budget as above, possibly some forecasting (especially regression)
Performance measurement -possibly divisional performance evaluation, may include index numbers to appraise performance.

Paper 2.5 - Financial Reporting
INTERNATIONAL

CBS and CP&L
Published accounts,EPS ?(maybe restatement or something bit different to normal IS and BS)
Interps (but don’t neglect cashflow)
Substance/IAS37
IFRS 1

Paper 2.6 - Audit and Internal Review
Ethics - Independence and Conflicts of Interest
Planning - assessing audit risks
Internal Controls - sales/purchases
Substantive Testing - stock, fixed assets
Review of audit - going concern
Audit reports - practical scenarios
Internal Audit - role in corporate governance / business risk analysis

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

posted by Unknown @ 1:41 PM