ACCA Exam Tips June 2014

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ACCA F2, F5, F9, P1, P3 Exam Tips June 2014

Note: Exam Tips given below are frequently examined exam topics that you must prepare to achieve pass marks. It is not an attempt to guess contents of exam paper. Your revision must contain but should not be limited to these exam topics.

ACCA F2 Exam Tips June 2014

Absorption costing

Marginal Costing

Process costing

Variance analysis

Discounted cash flows techniques

Regression analysis

High low method

ACCA F5 Exam Tips June 2014

Part A Costing Techniques

Activity based costing

Target costing

Life Cycle Costing for Products

Part B Decision making

Linear Programming. Please do not forget to take pencil, ruler and eraser along with you. You may need to draw diagram to find out optimal point on graph paper, which will be provided by the ACCA.

Expected Value & Decision Rules

Pricing Strategies

Short Term Decision Making such as make or buy, in-house or outsourcing, further processing decisions.

Part C Budgeting

Time Series Analysis. Time series is not examined since along. It is very important forecasting technique in practice.

Budgeting  (Zero Based Budgeting, Incremental Budgeting, Top-down & Bottom up Budgeting).

CVP analysis is not examined since it is included in ACCA F5 Performance Management syllabus. It may be examined as part of a question for up to 6 marks.

Part D Standard Costing

Basic variances.

Mix & Yield variances

Planning & Operational variances

Part E Performance Measurement

Divisional performance measurement. It includes ROCE, RI & EVA

Balance Score Card or Fitzgerald & Moon Building Block Model

Critical Success Factors (CSFs) & Key Performance Indicators (KPIs)

Behavioural aspects of performance measurement. It includes issues such as evaluating managerial performance, rewarding performance, encouraging goal congruence.

ACCA F9 Exam Tips June 2014

WORKING CAPITAL MANAGEMENT

EOQ (Economic Order Quantity)

Bulk purchase discounts.

Formulating & evaluating trade receivable policies.

Obtaining & offering early settlement discounts.

INVESTMENT APPRAISAL TECHNIQUES

NPV (Net Present Value).

IRR (Internal Rate of Return).

Discounted Payback.

ARR (Accounting Rate of Return).

SOURCES OF FINANCE

Impact of sources of finance on cost of capital

Impact of dividend policy on cost of capital.

Pecking order theory

COST OF CAPITAL

CAPM (Capital Asset Pricing Model),

WACC (Weighted Average Cost of Capital)

RISK MANAGEMENT

Types of foreign exchange risk.

Hedging techniques for foreign currency risk. It includes forward contract, currency futures, currency options, money market hedge and currency swap.

ACCA P1 Exam Tips June 2014

Ethics

AAA (American Accounting Association) model Or Tucker's 5 step model.

Social & environmental footprint and sustainability.

Absolutism Vs Relativism Or Teleological Vs Deontological Ethics

ACCA code of ethics.

Types of Ethical Threats.

Public Interest. It includes conflict between duty as professional accountant and public interest.

Governance

Stakeholders' classification and management (Mendelow matrix)

Role of NEDs & Chairman.

Principles Vs Rules based approach

Corporate governance codes (Combine Code UK and Sarbanes Oxley act US)

Risk

COSO framework

Types of risk

Risk assessment

TARA framework

Internal control environment. It includes risk embedding.

Internal control activities (SPAM SOAP)

Internal audit role and objectives.

Audit & Risk management committee

ACCA P3 Exam Tips June 2014

STRATEGIC PLANNING

PESTEL (Political, Economic, Social, Technological, Environmental, Legal).

Michael Porter's five force model.

SWOT (Strengths, Weaknesses, Opportunities, Threats).

Ashridge portfolio matrix.

BCG (Boston Consulting Group) Matrix.

Product life cycle in combination with BCG.

Strategic capability.

SAF (Suitability, Acceptability, Feasibility) Criteria.

Michael Porter's generic strategies Or strategic clock.

PROJECT MANAGEMENT

Project initiation document (project charter).

Business case.

Benefits realisation.

Response to project slippage problem.

Role of project manager.

PROCESS

Michael Porter's value chain.

Value network analysis (Supply chain analysis).

Business process redesign.

Paul Harmon Process/Strategy matrix.

Paul Harmon process improvement techniques (simplification, gaps & disconnects, value analysis, Re-engineering).

E-business & Marketing

Characteristics of internet marketing.

Push vs. pull marketing.

Marketing Mix (7M's).

Purchase Mix (5R's).

Pricing Strategies.

CHANGE MANAGEMENT

Cultural web paradigm.

7's Mc Kinsey Model.

Balogun & Hope Hailey contextual features.

Finance

ROCE (Return on capital employed).

RI (Residual income).

EVA (Economic value added).

Ratio analysis (Profitability, Liquidity or Working capital, Gearing, Investor).

Only use black ballpoint. ACCA OCR (optical character recognition) software does not recognize any other colour and gel pen, ink pen, marker, pointer, highlighter etc.

You should take a spare calculator along with you. If your preferred calculator fails unfortunately, then you can use the spare calculator. Read more at:

http://accasupport.com/tips-to-pass-acca-exams.htm