All these tips are merely intelligent guesses thus it is not 100% accurate. Please use at your own risk. You are advised to go through all syllabus before referring to the tips as guide.
Paper F5
* Compare traditional absorption costing with activity based costing (ABC) and the implications of switching to ABC
* Theory of constraints, throughput costing and back flush accounting
* Multiple limiting factors and shadow prices
* Short term decision making – shut down decisions, make or buy decisions
* Activity based budgeting and variance analysis, forecasting methods
* Transfer pricing
* Planning and operational variances
Paper F8
* Inventory – Physical verification, testing valuation and cut-off
* Acceptance of appointment – Ethical and practical issues
* System evaluation, use of CAATs and management letters
* Audit of estimates including provisions and contingencies
* Understanding unmodified audit reports and modified opinions
* Principles of corporate governance and the link to internal audit
Paper P1
* Corporate Governance – risk management, director's remuneration and non
* executive director's responsibilities
* Ethical dilemma – American Accounting Association decision model,
* Stakeholder management - Gray Owen and Adams social responsibility. Mendelow's Matrix
* Risk audit - in house versus external provision. The need for internal audit* The contents and process of a social/environment audit
* Enterprise risk management models, the requirements for risk reporting
Paper P2
* Complex group statement of financial position using net assets approach to goodwill
* Employee benefits
* Deferred tax
* Financial instruments including the impact of mark to market and hedge accounting
* Impact of accounting policies on a financial covenant
* Accounting for environmental issues including provisioning
Paper P3
* Strategic positioning – Porter's National Diamond and five forces models
* The extended marketing mix (7 P's model), E marketing and CRM
* Strategic capability – the 9 M's model, benchmarking and CMMI
* Stakeholders and ethical theories and dilemmas
* International orientation
* Change management, reasons for change, force field analysis and change agents
* Swim-lane/process flow diagrams
Paper P4
* Multi period capital rationing with taxation
* Geared and ungeared B's
* Ethical financial policy and corporate governance
* Option pricing theory – using Black Scholes model
* Foreign exchange risk, SWAPS and options, Value at risk
* Strategic planning for multinationals
Paper P6(uk)
* Tax Planning and Trusts
* Corporation Tax Groups
* Overseas Income Tax Issues
* VAT, Stamp Duty and Stamp Duty Land Tax
* Inheritance Tax Planning
Paper P5
* The value chain and business process reengineering
* Pricing, cost, demand and marketing driven approaches
* Behavioural and motivational aspects of budgeting and beyond budgeting
* Internal analysis models – Porter's 5 forces, the BCG matrix and Ansoff's growth matrix
* Internationalisation and divisional performance measurement
* Stakeholders and Mendelow's matrix
Kaplan tips as follows for P5
• Corporate failure• Performance calculations FI’S & NFPI’S & objective of growth.• ABM• NPV• Encouraging and rewarding performance• Transfer pricing• ROI, RI & EVA• Learning curve & target costing
Paper P7
* Prospective financial information and assurance assignments
* Audit procedures potentially covering impairment of financial instruments
* Ethical scenarios
* Audit risk and potential for earnings management and fraud in a group scenario
* Issues associated with the control weaknesses and collection of evidence for a not-for-profit organisation
* Audit challenges of determining going concern status
Monday, May 18, 2009
Monday, May 11, 2009
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