TARC ACCA 2005: ACCA Exam Tips December 06 Part 2 from ftc

~~~~~~~~~~~~~~~Motivation Quote~~~~~~~~~~~~~~~~ ~~~~~~~~~~Sometimes it takes a lot of rain before you get your rainbow!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~Just FOcus On The Key Topics That You Know And Ignore What You Don't!!!!!!~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~The glory is not in never failing but in rising again everytime you fall!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~YOU MAKE THE FAILURE COMPLETE WHEN YOU STOP TRYING!!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~

Saturday, November 04, 2006

ACCA Exam Tips December 06 Part 2 from ftc

2.1 ~ Managing Information Systems

Business strategy and IS/IT strategy
Legacy systems
Accounting for IS/IT costs
Staff roles and responsibilities
Project management and control
Centralisation/decentralisation
Designing Information Systems

Methodologies
Modelling
External design: data capture
Invitation to tender
Prototyping and 4GL
Evaluating Information Systems

Security/legislation
Quality
Documentation
Maintenance

2.4
Investment Appraisal; NPV to include relevant costs, tax and inflation, and possibly capital rationing and/or sensitivity analsysis
Working capital management, possibly to include stock
Costing systems (ABC ?)
Budgeting and Budgetary control
Long term finance and gearing

2.5
Groups
Restated financial statement
Substance
Provisions
Cash flow
Interpretation

2.6
New Client Appointment / Conflicts of Interest
Practical Audit Risk
Engagement Letters
Materiality
Management Letter - purchases / computer controls
Sampling
Substantive Testing of Receivables / Payables
Audit Report scenarios
Role of Audit Committees
Responsibilities for fraud