~~~~~~~~~~~~~~~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!!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~
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Saturday, November 04, 2006

ACCA Exam Tips December 06 Part 3 from ftc

3.1
Risk Appraisal, Risk Management and Audit Strategy
Assurance Services - PFI and Performance Measurement
Matters and Evidence - usual GAAP favourites - Intangibles, Provisions, Impairment etc.
Audit Reports - ISAs 570 & 720
Ethics/Professional Conduct/Practice Management
Current Issues - 'Yesterday's News'

3.3
Contribution based decision-making – possibly involving expected values, maximax, maximin & minimax regret.
Practical aspects of pricing policy
Performance evaluation – ROI/RI and the conflict between performance evaluation and investment appraisal.
The strategic framework – specifically a question based around the examiner’s recent article on “Business Strategy and Performance Models” (Student Accountant – April 2006). This is likely to focus on Porter’s 5 Forces and/or Ansoff’s matrix

3.4
Porters five forces
Macfarlan/Peppard
Earls 3 leg
PEST
EIS
Data management and data mining
Soft systems methodology
Impacts of the use of ecommerce
Software selection – web site design

3.5
Corporate appraisal
Ethics
Corporate governance
CSR
Globalisation issues
Marketing

3.6
Section A
This compulsory question will be on the preparation of consolidated accounts and the preparation of a group accounts with a foreign subsidiary is due, as is cash flow statements!

Section B
Share based payments
Deferred tax
Financial instruments.
Developments in group accounts
Management Commentary / the OFR
Reporting of non financial performance e.g. Corporate Social Responsibility, sustainability reporting
Measurement issues

3.7

Section A
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 within the context of Merger and Acquisitions: 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 - Risk adjusted WACC – APV calculations within the context of a standard investment appraisal question. However risk adjusted WACC could also be examined within the context of traditional gearing.
Risk management: Interest rate risk / Currency Risk

Section B:
Economic Value Added – EVA
Portfolio Theory and CAPM - summary and alpha tables
Dividend Policy
Term Structure of Interest rate
International economics – I.M.F., Treasury Management. Balance of payments deficits and Forecasting exchange rates.

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