ACCA Exam Tips for June 2018 F5 – P7

Spread the love

(Last Updated On: June 4, 2018)

ACCA Exam Tips for June 2018

We know that everybody was waiting for the ACCA Exam Tips for June 2018. Now here they come, we got ACCA Exam Tips for June 2018 from PQMAG (source). You can read ACCA Exam Tips for June 2018 to just get some expert suggestion. Exams are coming in the next month and everyone is too much busy in the preparation and in that case if you get some tips, will be very useful to you. 

These are guessed from the expert, you have to focus on the other syllabus too. Don’t fully rely on these tips. We wish you Best of luck for the exams. 

ALSO, CHECK THESE POSTS TOO:

  1. ACCA BPP EXAM TIPS FOR MARCH 2018
  2. ACCA LSBF EXAM TIPS MARCH 2018
  3. LSBF EXAM TIPS 2018

ACCA BPP EXAM TIPS FOR JUNE 2018 F5 – F9

BPP Exam Tips for June 2018provides its insight into the June exam for papers F5 to F9, with the usual warnings!

ACCA F5 Performance Management Exam Tips June 2018

  1. The exam will be approximately 40% calculation and 60% discussion, so it’s not sufficient to be able to perform all the calculations. Interpretation and application are crucial, especially in section C. 
  2. In section C expect to be tested on budgetary systems, planning and operational variances, mix and yield variances and evaluation of the company performance (either as a whole or on a divisional basis). 
  3. You are strongly advised to plan answers to section C questions before starting to write.
    Always refer to the scenario in your answer.

ACCA F6 Taxation Exam Tips June 2018

Section A: expect a couple of the OTs to be devoted to the administration of income tax and corporation tax.

You also have to be comfortable with quite a lot of other stuff too, including:

  1. Due dates for payment of income tax (including payment on account).
  2. Due dates for the payment of corporation tax (including installments for large companies).
  3. Filing dates for the income tax and corporation tax returns.
  4. Penalties and interest for late payments and returns.

Also likely to be tested in section A of the exam are:

  1. VAT rules on registration, impairment loss (bad debt) relief, and the SME schemes relating to cash accounting, annual accounting, and flat-rate schemes.
  2. IHT due to lifetime transfers both in the donor’s life and on death.
  3. Statutory residence tests for individuals.
  4. Identification of groups of companies for corporation tax loss reliefs and gains.
  5. Trading loss reliefs for both companies and sole traders,

At least 50% of your revision time has to be spent answering section C questions. Remember to learn your income tax and corporation tax pro-formas. Calculations which require no more than 2/3 entries into your calculator can be included on the face of your proformas (eg time portioning a salary). Calculations that are more complicated (eg company car benefits) need separate workings which are properly referenced (W1, W2, etc) and have a heading.

Aim for as many sentences as there are marks with each sentence containing something technical.
Keep your paragraphs to no more than 3 sentences long. The two longest questions will focus on income tax and corporation tax. They are likely to include the following:

  • Employment benefits.
  • Property income.
  • Relief for pension contributions.
  • Adjustments to profit to arrive at trading income for both companies and sole traders – in past questions you had to correct errors in computations.
  • Capital allowance computations.

ACCA F7 Financial Reporting Exam Tips June 2018

Section A

  • Expect several questions on consolidation and interpretation of financial statements.
    A few questions on non-core areas – inflation & specialized entities.

Section B

  • Two 20 marks – one covering interpretations and the other preparation of financial statements.
  • One Q is likely to be in the context of a single company and one in the context of a group.
  • Accounts prep Qs may include extracts or stand-alone calculations or full statements of P&L and other comprehensive income and/or statement of financial position. 
  • May include a short separate part, eg with a statement of changes in equity, statement of cash flows extract, earnings per share calculations or linked written topic.
  • A consolidation Q would include one subsidiary and often an associate with adjustments, eg fair values, deferred/contingent consideration, PUP on inventories/PPE, intragroup trading and balances, goods/cash in transit.
  • A single entity Q could be preparation from a trial balance or restatement of given financial statements with the usual adjustments for depreciation, revaluation and current/deferred tax (including deferred tax on revelations) plus a mixture of adjustments on other syllabus areas, eg leases, substance over form issues, financial instruments (change in fair value or amortised cost), share issues government grants, inventory valuation, revenue recognition or construction contracts.

ACCA F8 Audit & Assurance Exam Tips June 2018

Section A

  • Expect questions to focus on syllabus areas A and E.

Section B

The majority of marks in each question will test syllabus areas B, C and/or D.
In Q16 and Q18 expect:

  • Audit planning.
  • Audit risk (identification and explanation of audit risks from a scenario and explanation of the auditor’s response to each risk).
  • Internal Audit.
  • Internal controls (identification and explanation of deficiencies in internal control and the recommendation of suitable internal controls or description of tests of control).
  • Audit procedures (both substantive procedures and tests of control).

When presenting your answers try to use a tabular format in your solutions where relevant – you will score better!

ACCA F9 Financial Management Exam Tips June 2018

Section A

  • Likely that a good number of these questions will test your understanding of financial management and objectives – ratio analysis, the concept of shareholder wealth.
  • Also expect questions on the economic environment and financial institutions – financial intermediation, fiscal and monetary policies.
  • Another area likely to be tested here is an efficient market hypothesis.

Section B

Commonly tested areas are:

  • Working capital management – the operating cycle, the impact of a change in credit period or accepting a factor’s offer.
  • Business or security valuations – methods of valuation.
  • Financial risk management – currency risk and interest rate risk.

Section C

  • These two questions will focus mainly on syllabus sections C, D, and E.
  • That’s working capital management, investment appraisal (NPV with inflation & tax), and Business finance (evaluation of options or cost of capital).

We will update the ACCA Exam Tips for June 2018 from other sources too here. so Keep visiting. 

BPP’s June 2018 tips are…

ACCA Exam Tips for June 2018

ACCA BPP EXAM TIPS FOR JUNE 2018 P1 – P7

ACCA P1 Governance, Risk and Ethics Exam Tips June 2018

Check out all newly published articles. Recent exams have tested content from the examiner’s technical articles, as with March 2018 and the transaction cost theory.

Expect to see:

  • Use of stakeholder, ethical and other CRS theories applied to scenarios.
  • Use of risk, control & governance syllabus content, especially relating to board directors, remuneration, and reporting.
  • Focus your past-paper practice on dysfunctional behavior in areas such as bribery and corruption, environmental risk or poor ethical stance.

ACCA P2 Corporate Reporting Exam Tips June 2018

Section A

This will be a 50-mark case study including the preparation of a group statement of financial position, statement of profit or loss and other comprehensive income or statement of cash flows, which may include discounted activities, disposals and/or acquisitions or foreign subsidiary. Expect other accounting complications such as group adjustments, financial instruments, pensions, share-based payments, and impairments.

Discursive requirements on a linked accounting adjustment, and social/ethical/moral aspects of corporate reporting.

Section B

Could see fair value measurement (see examiner’s article), revenue recognition (article), deferred tax, foreign currency transactions, financial instruments, pensions, share-based payment, non-current assets (recognition and/or impairment of tangible and intangible assets), borrowing costs, nature of business combinations, the effect of accounting treatments on earnings per share or ratios.

Other question industry-based testing range of standards – accounting policies and framework, leases, grants, IFRS for SMEs, reorganizations, provisions, events after the reporting periods and related parties.

Q4 looking at current developments in corporate reporting and problems with existing standards. Think foreign exchange (article), measurement and revision of the conceptual framework (article), classification in profit or loss vs OCI (article), leasing, equity accounting, integrated reporting (article), performance measurement, regulatory issues over adoption and consistent application of IFRSs.

One of these questions can also include elements of group accounting, especially if Q1 is a statement of cash flows.

 

ACCA P4 Advanced Financial Management Exam Tips June 2018

Q1

  • Think core areas of the syllabus here. So that’s project appraisal (domestic or overseas), business valuations and business/financial reorganizations.
  • These areas often include the cost of capital calculations.
  • Rosk management could feature in a number of ways – value at risk, real options, hedging and risk mapping.

Q2-4

  • Risk management (currency or interest rate).
  • Dividend policy and general financing issues.
  • Real options.

 

ACCA P5 Advanced Performance Management Exam Tips June 2018

Q1

  • In recent exams, this Q has often required a significant level of data analysis using numerical techniques such as KPIs, EVA.
  • You need to have mastered the numerical techniques such as transfer pricing, ratios, analysis of quality related cost, and ABC. But remember the examiner wants the data turned into information not a lot of complicated numbers!
  • Performance management frameworks – building blocks, performance pyramid or the balanced scorecard.

Q2-4

  • Quality management, information reporting (CSF and KPIs), the application of strategic models (PEST, Porter’s 5 forces, the value chain), HR frameworks (reward & appraisal systems), risk management and environmental management accounting.
  • Check out the recent articles on complex business structures, big data, integrated reporting and performance management models (BCG & 5 forces).

ACCA P6 Advanced Taxation Exam Tips June 2018

Section A

  • One of these questions will focus on personal tax issues and the other on corporate tax.

Section B

Expect to see quite a lot, including:

  • Groups of companies involving overseas aspects and losses.
  • Unincorporated business particularly loss relief or involving partnership, basis period rules should also be expected.
  • Capital gains tax vs IHT, including available reliefs.
  • Overseas aspects of income tax, capital gains tax, IHT or corporation tax.
  • Personal service company.
  • Share schemes.
  • Company purchase of own shares or liquidations.
  • Enterprise investment schemes/Seed EIS/venture capital trusts.
  • Takeovers.
  • VAT – partial exemption or land and buildings or transfer of a going concern or overseas transactions.
  • Transfer of trade vs sale of the subsidiary.
  • Disincorporation relief.
  • Pension contributions.
  • Patent box, research, and development expenditure.

ACCA P7 Advanced Audit & Assurance Exam Tips June 2018

Section A

  • Typically Q1 will test planning, risk assessment, evidence gathering and professional issues where details of an audit client (remember it could be a group) are presented, often with financial statements extracts for analysis.
  • Topics covered by Q2 will be more uncertain – possibly a non-audit engagement such as prospective financial information (PFI) or due diligence, or a Q testing quality control.
  • Don’t forget the professional marks here.

Section B

  • Expect the following syllabus areas to be tested: audit evidence and financial reporting issues, practice management, including ethics and reporting (completion & communication).
  • Recent exams have tested fresh content. For example, the evaluation of misstatements was examined in December 2017. You must read the three most recent articles too covering ethics, risk and accounting issues.

ALSO, CHECK THESE POSTS TOO:

  1. ACCA BPP EXAM TIPS FOR MARCH 2018
  2. ACCA LSBF EXAM TIPS MARCH 2018
  3. LSBF EXAM TIPS 2018

ACCA Exam Tips for June 2018

ACCA P1 Exam Tips for June 2018

Do not underestimate P1!!

To prepare: Read the Technical Articles – they’ve come up in last few papers.

P1 is smaller syllabus, but if I had to focus…

  • Types of the board, leaving, joining – senior roles.
  • Rules v principles – & code application.
  • Mandatory & voluntary disclosure.
  • Evaluate control systems.
  • Internal controls and financial reporting.
  • Information for good control.
  • Strategic / operational risks.
  • External risk reporting.
  • ALARP & Risk perception.
  • Risk manager, Risk awareness & TARA.
  • Ethical theories – application.
  • Public interest.
  • Integrated reporting.

To pass:

Answer the question asked – really!!

Focus on the verb – if it says “evaluate” then evaluate! Don’t discuss, explain, assess….

Plan your answer before you write anything.

Never “tell me everything you know about…?”

Do not provide generic textbook answers – are your points relevant to the scenario?

Don’t feel you have to write lots – write to the marks available.

Good layout and use headings!!

Manage your time …ruthlessly.

ACCA P3 Exam Tips for June 2018

Do not simply learn lists of models!!

To prepare: Read the technical articles & be able to calculate ratios!!

P3 is a large syllabus – so if you have to focus…

Macro & competitive environments – all models.

Strategic capability & organizational knowledge.

International diversification.

Strategy clock, generic strategies & SFA.

Org structure – boundary-less & Mintzberg.

Big data.

Leadership styles.

Emergent strategies.

Buying generic vs bespoke software.

IT controls & all of the e-business.

Managing & controlling projects.

Strategic finance options.

To pass:

See P1 points…and also

DO NOT SPEND TOO LONG ON Q1!!

The model itself is never the answer!!

Justify your points.

If you’re given data, use it!! – but don’t get bogged down in calculations.

Read March 18 Post exam guide.

Imagine the marker is your boss and has asked you for the question requirements…

Quantity is not necessarily quality!

ACCA F5 Exam Tips for June 2018

Section A objective test questions in the exam generally cover the full syllabus.

Likely topics to feature in the section B objective test case questions could include mix & yield variances, budgeting, relevant cost decision-making and throughput accounting.

The Section C constructed response questions must be practiced on the ACCA website using the software tools. These questions will be a mix of calculations and discussion questions on performance management, transfer pricing, planning & operational variances, and learning curves.

ACCA P5 Exam Tips for June 2018

Although the March 18 exam tested CSF’s & KPI’s this is a key area of the P5 syllabus, and so is likely to be examined again. Applying any of the performance management models to the question-scenario i.e. balanced scorecard, performance pyramid and/or the building blocks model is a strong possibility. There are plenty of past exam questions to practice on these models. Risk and uncertainty techniques & corporate failure models are likely candidates too.

ACCA F9 Exam Tips for June 2018

Section A will be the usual mix of objective test questions covering the ENTIRE syllabus. Pay particular attention to the theory/‘wordy’ questions, as they need careful reading. Also, double-check your calculations.

Section B’s case study based objective test questions are likely to cover:

  • Cost of capital & finance.
  • Risk management.
  • Ratios & valuation.

Once again, pay particular attention to the theory/‘wordy’ questions and double check your calculations.

Section C – 2 x constructive response questions. My educated guess is:

Working capital management – inventory, receivables & cash.

Investment appraisal – possibly including the asset replacement decision.

Take care great care with the theory/written answers. They can carry up to 10 marks and in the past students have underperformed on this style of question.

Make sure you are comfortable with the ACCA software tools.

ACCA P4 Exam Tips for June 2018

Expect the paper to cover the FIVE core topics:

  1. Cost of capital, long-term finance & dividend policy.
  2. Advanced investment appraisal.
  3. Option pricing (BSOP).Risk management.
  4. Business valuations & corporate reconstructions.

SEE ALSO,

ALSO, CHECK THESE POSTS TOO:

  1. ACCA BPP EXAM TIPS FOR MARCH 2018
  2. ACCA LSBF EXAM TIPS MARCH 2018
  3. LSBF EXAM TIPS 2018

Spread the love

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.