TARC ACCA 2005

ACCA Exam Tips December 05 Part 3 from FTC

3.1 INT
Q1. Case Study - Advanced Auditing - Risk Assessment and Audit Strategy.
Q2. Case Study - Assurance Services - Corporate Social Responsibility Reporting.
Q3. Scenario Question - Accounting Treatments and Audit Evidence - 3 scenarios.
Q4. Audit Reporting - Emphasis of Matters treatments.
Q5. Professional and Ethical matters.
Q6. Current Issues - Implications of IFRSs or Auditors' liability

3.3
Contribution based decision-making
Practical aspects of pricing policy
Performance evaluation – a question based around the examiner’s article dated 5 Sept 2005 – Pyramids and Pitfalls of Performance Measurement
The strategic framework
The learning effect (learning curve)

3.4
Soft systems methodologies – this topic has been examined on a number of occasions and the theory as well as the development of practical questions are required
MacFarlan’s Applications Portfolio – an important management model, an understanding of its application to scenario is a possibility for this sitting
Strategy –application of an IS/IT/IM strategy in the context of a scenario
Porters 3 generic strategies in relation to the development of e-commerce systems or the Internet
Knowledge management – problems of knowledge sharing and solutions within a business context – perhaps relating to knowledge and data workers
Lewins model and managing change – the application of the model and how problems can be reduced in relation to policies which address behaviour.
Reasons for the development of strategy and alignment issues – core topic area – yet to examine the reasons for the development of an IS strategy – alignment issues could be linked to one of the above models g value chain
Globalisation – issues in relation to the setting up of a global organisation with the application of e-commerce

3.5
Current position analysis
Ethics
Marketing
Strategic Options
Balanced Scorecard and multidimensional performance measures The role of the accountant in strategic decision making (see the examiner's article in the September addition of student accountant)

3.6 INT
Preparation of a group income statement with either disposal or foreign subsidiary or both! - (though it could be a balance sheet (again) or a cash flow
EPS
Financial instruments
International issues
Reporting of non financial performance e.g. Corporate Social Responsibility, sustainability reporting

3.7

Section A:
Risk management: Currency Risk / Interest rate risk
Overseas NPV: Ability to perform a basic overseas NPV/FCF calculation. Including one off cash flows, annuities and perpetuity calculations and the knowledge of the specific issues that relate to foreign direct investment.
Company Valuation: A possible question that requires a valuation under various methods like NAV, DVM, P/E Ratio and FCFs. (maybe within the context of Going Private.) Also review the share for share exchange style questions.
WACC or Risk adjusted WACC calculation within the context of a standard investment appraisal question. However risk adjusted WACC could also be examined within the context of traditional gearing.
Management Buy Outs: Including the review of an existing finance package. Together with a discussion of the advantages and disadvantages of the package.

Section B:
Dividend Policy
Term Structure of Interest rate: possible linked to the calculation of the market value of debt.
International economics – I.M.F., Treasury Management. Balance of payments deficits.
Control of foreign subsidiaries,
Economic Value Added – EVA

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