These are only hints, intelligent guesses and exam tips by First Intuition for September 2015 attempt. Don,t fully rely on these tips. Read every area of text books first and then focus on these tricky and expected exam areas/topics on priority basis. Also read latest technical articles . To read technical articles click here.
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F5 exam tips by First Intuition
* Target costing.
* Life cycle costing.
* Cost volume profit analysis (CVP ).
* Limiting factors.
* Risk measurement.
* Flexed budget and budgeting discussion.
* Financial and non-financial performance Indicators.
F6 exam tips by First Intuition
* Employment/self-employment.
* PAYE.
* Opening years and change of year end for sole traders.
* Capital allowances.
* VAT default surcharge and VAT invoice contents and annual accounting.
* CGT: Principal private residence and entrepreneur’s relief, chattels.
* IHT lifetime and death transfers.
F7 exam tips by First Intuition
* Extracts from single company accounts including non-current assets, taxation and IFRS 15.
* Interpretation of accounts including a statement of cash flows.
* Consolidated SFP and/or SPL with associate, PUP and fair value adjustments.
F8 exam tips by First Intuition
* Ethics.
* Audit risk and auditor response.
* Internal control - deficiencies, implications and recommendations on revenue and receivables or payroll cycle.
* Audit evidence and substantive testing.
* Subsequent events, written representations and going concern
* Modified auditors reports.
F9 exam tips by First Intuition
* Discussion of the economic environment and the impact on interest and exchange rates.
* Working capital management.
* Investment appraisal & cost of capital.
* Business valuations.
* Risk management.
P1 exam tips by First Intuition
* 50 mark scenario question, to include: ethics, Tuckers 5 questions, single vs two tier board structures also corporate social responsibility.
* Optional questions to include: Importance of internal controls, governance committees and structure of directors remuneration, business risks, integrated reporting and environmental reporting.
P2 exam tips by First Intuition
* Q1: Group question on foreign subsidiary. Will contain a variety of non-group topics too.
* Ethics.
* Revenue recognition or leases – current issue.
* Deferred tax.
* Share based payments.
* Pensions
P3 exam tips by First Intuition
Section A
* Environmental analysis, people with financial analysis.
Section B
* Project management.
* Strategic action.
* Information technology – pricing strategy.
P4 exam tips by First Intuition
* International investment appraisal techniques focusing on risk management tools such as value at risk.
* Impact on WACC following hedging of interest rate risk.
* Company valuation based scenario, possible MBO finance to structure.
* Adjusted present value with link to real options and Black Scholes option pricing model.
P5 exam tips by First Intuition
* Critique an existing performance management system and the performance hierarchy.
* Transfer pricing.
* Quality costs and six sigma.
* Activity based principles.
* Budgeting.
* Performance management models - performance pyramid or building block model.
* Value based approaches to performance management.
P6 exam tips by First Intuition
* Business Property Relief.
* Use of second spouse nil rate band.
* Related property.
* Groups of companies, trading and capital losses.
* Double tax relief for companies.
* De-grouping charges.
* Incorporation relief.
* Furnished holiday lets.
* VAT partial exemption.
* Appeals and the four track tribunal system.
* Benefits in kind or extra salary, income tax and national insurance implications.
P7 exam tips by First Intuition
* Business risks in a scenario.
* Identifying ethical and other professional issues in a scenario.
* Matters to be considered and audit evidence for a couple of core accounting issues.
* Audit reports.
* Money laundering.
Source :PQ - Magazine
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