June 09 Exam Tips

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

New page

Very soon
i am going to have a new life...
waiting...

He is alive !!!

Two thousand years ago
He came to this world
born by virgin Mary
He loved us so much
willing to take on our sin
and die for us
He was crucified and die on the cross
for the sin of the world
He was buried
Three days later
He rose from dead...


For God so loved the world that he gave his one and only Son,
that whoever believes in him shall not perish but have eternal life.
John 3 :16

Friends.let me remind u ...

it's left 52 days to the battle...
sharpen your weapon already??
are you ready for this must WIN battle?



i ....not ready yet ..

Dear students

I am not a professional teacher
but i am serious in my work
I want to make sure you guys really learn something from my class
you all are going to seat for government exam
some of you are quite weak
but some is better than others
what i can do is assist the weak ones
help them a least a pass
thanks for you really put in effort in doing my homework
altough some of it is really tough for you
i really appreciate your hard work
try to ask arround and understand
while the better one
indeed you are not really good
your foundation is not strong enough
you not really reach my standard that i set for you
that's ok to me
what i hate the most is
that's you attitude
you thought you are really good
you thought i am making fun with you
giving you a lower level work
but seriously did you complete it prefectly?
you always try to ignore me
today is the worse
since it still have 10min before class ended
i gave you some extra work to do
but you came to front
erase the work i want you to do
and i can't control
oh..i shouted at you
" enough..go back your place!!'
since i taught
i treat you all a young adult
i don't like to shout at people
last time,
i thought people will listen to me when i shouted at them
time was pass
i found that i was wrong
so i always talk nicely to you
your voice is the loudest one
even lounder than mine
you influence those want to listen my class
i try to use symbolic
to ask you control yourself
so that you won't feel i am hurting you
however you not appreaciate that
i really sorry for shouted at you just now...
人必自悔，然后人才悔之
i won't did that if you respect yourself
do the things you suppose to do...

Eco Downturn

it's really hit me badly...
at first i thought it will be fine
as i am in education line
i was wrong....

Be Confidence !

In the role play interview,
interviewer said I am not confident enough while i speak.
'' the way you speak doesn't show you are a tough girl..''
they told me that...
my dance teacher also told me last year before exam
''you can know a person from their dance,
i see inferior from your dance
not to say that you don't know
but you perform bad
when you sit in front''
because i always scare i do something different from others
even though i am right actually
while others do the wrong one
i must solve this problem, seriously...
so i try to hypnosis me everyday about who i am...
hope it help la..
got any other way??