FAR600

PAST YEAR EXAM QUESTIONS ANALYSIS This analysis is NOT provided by lecturer. It may contain errors. Use at your own risk.

JUNE 2012 TOPICS TESTED: 1, 2, 3, 6, 7, 8, 9, 11 Q 1a(i) 1a(ii) 1b 2a 2b 3a(i) 3a(ii) 3b(i) 3b(ii) 4a 4b 4c 5a 5b 5c T 2 2 1 3 6 9 9 11 11 7 7 7 8 8 8 Islamic vs conventional actg: differences Difficulties introducing Islamic actg in actg std History impotance to actg pedagogy, policy, practice Pragmatic vs normative: theory construction Free market vs regulatory approach Creative actg: definition Why manager manipulate cos acct Sust reporting: benefits Global Reporting Initiative Reporting Framework Why have CF for actg IASB Framework: recog assets & liabilities Limitation of CF Hist cost: criticisms (income & capital measurement) Why hist cost advocates reject CCA Exit price: argument to support

APR 2011 TOPICS TESTED: 2, 3, 6, 7, 8, 9, 11 Q 1a(i) 1a(ii) 1b 1c 2a 2b(i) 2b(ii) 3a 3b 3c 4a(i) 4a(ii) 4b(i) 4b(ii) 5a 5b(i) 5b(ii) T 2 2 2 3 6 6 6 3 8 8 7 7 7 7 9 11 11 Islamic actg definition Why Islamic actg holistic Why zakat impetus for Islamic actg development Criticism on pragmatic approach Why standard setting must be independent Important of regulation in accounting Public interest theory vs private interest theory Positive vs normative (assumptions) Hist cost, exit price, CCA depreciable FA Concept of value in use Benefit of CF Limitation of CF Relevance vs reliability difference Relevance vs reliability trade off when apply CCA Why managers do creative actg Obstacles in sust actg Sust actg enhance public trust agree/not

JAN 2012 TOPICS TESTED: 2, 4, 5, 7, 8, 11 Q 1a 1b(i) 1b(ii) 2(a) 2(b) 3(a) 3(b) 4(a) 4(b) 4(c) 5(a) 5(b) T 2 2 2 5 4 7 7 8 8 8 11 11 OCT 2010 TOPICS TESTED: 2, 3, 4, 7, 8, 9, 10 Obj of acc systems (early developmt of Islamic state) Concept of Islamic acccountability How zakat help org to be more accountable Positive actg theory Fundamental aspects: contracting & agency theory CF for decision making CF as means legitimising standard-setting bodies CCA physical capital Measurmt & valuation of NCA Hist cost, exit price, CCA diff in depreciation Sustainability actg definition Factors co to seek assurance for sust acc Q 1a 1b 2a 2b(i) 2b(ii) 3a(i) 3a(ii) 3b 4a 4b 5a(i) 5a(ii) 5b T 2 2 4 3 3 8 8 7 7 7 9 9 10 Accountability in Islamic & conventional actg Concept of CSR in Islamic actg How agency rship give rise to agency cost Normative vs positive: theory construction How normative & positive complement each other Weakness of hist cost Replace hist cost with CCA: effect on profit Relevance vs reliability: modified hist cost CF in developing useful general purpose FR How MASB political influence in std setting Creative actg: classification Factors motivate managers to engage creative actg Should/should not manager practice EM

FAR600 PAST YEAR EXAM QUESTIONS ANALYSIS This analysis is NOT provided by lecturer. It may contain errors. Use at your own risk.

APR 2010 TOPICS TESTED: 1, 2, 3, 6, 7, 8, 10 Q 1a 1b 2a 2b(i) 2b(ii) 3a(i) 3a(ii) 3b 4a 4b 5a 5b T 1 2 3 3 3 7 7 6 8 8 10 10 Characteristics of mgmt contribution phase Adala & Ihsan Descriptive & psychological pragmatic: weakness Normative main issues Normative major criticisms Understandability, comparability, relevance, reliance Balancing relevance & reliability Theories of regulation: govt intervention CCA: criticisms & defences Separating holding gains: benefit & shortcomings Motivation behind EM EM: good/bad/both

APR 2009 TOPICS TESTED: 6, 7, 8, 9, 10, 11 Q 1a 1b 2a 2b 3a 3b 3c 4a 4b 5a 5b T 7 7 8 8 6 6 6 9 10 11 11 CF: definition, how CF benefit std setters Relevance-reliability trade off Hist cost: criticisms (rising price) MASB: Why flexible choice (hist, CCA, exit, PV) Why GAAS important to actg profession Argmt in favor of regulating fin actg Why regulation lead to over supply acc info Creative actg: implication EM: actg R&D, off BS financing Social contracts & legitimacy How social & enviromt report SH wealth

OCT 2009 TOPICS TESTED: 2, 6, 7, 8, 9 Q 1a 1b(i) 1b(ii) 2a 2b 3a 3b 4a 4b 5a 5b T 2 2 2 8 8 6 6 7 7 9 9 Zakat as impetus for actg system Islamic vs conventional: actg objectives Challenges to introduce Islamic actg in actg std Exit price: how useful actg info Arguments against exit price Free market vs regulatory in std setting How actg std improve FR MASB: recog of FS elements MASB: recog & measure R&D cost Why managers manipulate acc Indicators company engaging creative actg

OCT 2008 TOPICS TESTED: 1, 3, 6, 7, 8, 10, 11 Q 1a 1b(i) 1b(ii) 2a 2b 3a(i) 3a(ii) 3b 4a(i) 4a(ii) 4b 5a 5b(i) 5b(ii) 6a 6b 6c T 1 6 6 3 3 6 6 7 7 7 11 8 8 8 10 10 10 Professional contribution phase Historical development of MIA Reasons of establishment of MASB Pragmatic: advantages & disadvantages Normative vs postive: difference in major issues Regulatory capture: definition How MASB can avoid regulatory capture How CF contribute towards FR & std development Control as determinant of asset Measurement of assets & liabilities: why important What firm do when legitimacy at stake Why hist cost not objective Exit price: adaptive behavior Exit price: arguments to support EM: Definition EM: Why useful to shareholders EM: How shareholders argue against 6(b)

FAR600 PAST YEAR EXAM QUESTIONS ANALYSIS This analysis is NOT provided by lecturer. It may contain errors. Use at your own risk.

APR 2008 TOPICS TESTED: 1, 2, 6, 8, 9, 10, 11 Q 1a 1b(i) 1b(ii) 2a 2b 3a 3b(i) 3b(ii) 4a(i) 4a(ii) 4b 5a(i) 5a(ii) 5b 6a(i) 6a(ii) 6b T 1 2 2 6 6 8 8 8 9 9 10 11 11 11 6 2 6 Age of Stagnation (1500 1800) Why provision of fair zakat required in Islamic actg Concept of asset in Islamic FS Is it possible to avoid ethical issues in dev actg std Factors made convergence of actg std difficult CCA: physical capital maintenance Reasons of diff opinion in measure & valuation of FA How diff valuation of assets affect FR Creative actg: off-balance-sheet-financing Why manager employ creative actg EM: Taking bath, income max, min, smoothing How scope of corp actb change on society concern Consq on industries not respond to community Actg profession pursue social & enviro disclosure CF change stwdship reporting to decision usefulness Accountability in CF: conventional vs Islamic Initiative of MASB to formulate Islamic actg std

APR 2007 TOPICS TESTED: 2, 4, 6, 7, 8, 11 Q 1a 1b 1c 2a(i) 2a(ii) 3a 3b 3c 4a 4b 4c 5a 5b 6a 6b T 2 6 6 7 7 8 8 8 4 4 4 6 6 7 11 Islamic vs conventional: diff in providing info Public & private interest theory How Malaysian corp benefit from IASB std Relevance & reliability: characteristics Relevance & reliability: how help FR Exit price as measurement basis in FR Exit price: measurement vs valuation Exit price: value in use How actg theory benefit actg profession Agency theory, positive actg theory How 4b explain co chooses particular actg policy How std setting affect distribution of wealth How diff interest groups could influence std setting Event after balance sheet Why need to disclose social resp programmes

OCT 2007 TOPICS TESTED: 2, 3, 6, 7, 8, 10, 11 Q 1a 1b 2a 2b 3a 3b 4a 4b 5a 5b 6a 6b 6c T 2 2 3 3 6 6 7 10 8 8 11 11 11 Factors contribute to Islamic actg development Accountability is Islamic actg Normative vs positive theory Explain: dogmatic, self-evident, scientific Why std setting body must be independent Implication of convergence of actg std Relevance vs reliability: accounting for goodwill EM: contracting & FR perspective Measurement & disclosure: R&D expd CCA: Advantages & disadvantages Difficulties in disclosing soc & enviro info in AR Corp opp mandatory soc & enviro rep guidelines Cost outweigh benefit of mandatory reporting

FAR600 PAST YEAR EXAM QUESTIONS ANALYSIS This analysis is NOT provided by lecturer. It may contain errors. Use at your own risk.

TOPIC 1 Historical development of accounting 2 Accounting in Islam 3 Accounting theory construction 4 Positive theory of accounting policy and disclosure 5 Capital market research 6 Applying theory to accounting regulation 7 Normative theories of accounting: the case of conceptual framework projects 8 Accounting measurement systems 9 Creative accounting 10 Earnings management 11 Emerging issues in accounting & auditing

JUL 12 1b 1a(i), 1a(ii) 2a

JAN 12

APR 11

OCT 10

APR 10 1a 1b 2a, 2b(i), 2b(ii)

OCT 09

APR 09

OCT 08 1a

APR 08 1a 1b(i), 1b(ii), 6a(ii)

OCT 07

APR 07

1a, 1b(i), 1b(ii)

1a(i), 1a(ii), 1b 1c, 3a

1a, 1b 2b(i), 2b(ii) 2a

1a, 1b(i), 1b(ii) 2a, 2b

1a, 1b 2a, 2b

1a

2b 2a 2b 2a, 2b(i), 2b(ii) 3a, 3b 4a(i), 4a(ii), 4b(i), 4b(ii) 3b, 3c 5a

4a, 4b, 4c

3b

3a, 3b

3a, 3b, 3c 1a, 1b

4a, 4b, 4c 5a, 5b, 5c 3a(i), 3a(ii) 3b(i), 3b(ii)

3b, 4a, 4b 3a(i), 3a(ii) 5a(i) 5a(ii) 5b

3a(i), 3a(ii) 4a, 4b

4a, 4b

1b(i), 1b(ii), 3a(i), 3a(ii) 3b, 4a(i), 4a(ii) 5a, 5b(i), 5b(ii) 6a, 6b, 6c 4b

2a, 2b, 6a(i), 6b

3a, 3b

1b, 1c, 5a, 5b 2a(i), 2a(ii), 6a 3a, 3b, 3c

4a

4a, 4b, 4c

2a, 2b 5a, 5b

2a, 2b 4a 4b 5a, 5b

5a, 5b

3a, 3b(i), 3b(ii) 4a(i), 4a(ii) 4b 5a(i), 5a(ii), 5b

5a, 5b

4b 6a, 6b, 6c 6b

5a, 5b

5b(i), 5b(ii)