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ACCA Exam Tips by LSBF September 2017

• Sections A and B: Costing methods (ABC, throughput & life cycle) and decision
making (relevant costing, linear programming, and uncertainty). ACCA Exam Tips by
LSBF September 2017.
• Section C: Transfer pricing, budgeting, and advanced variances.

• Income tax: Looking at a sole trader or partnership business and calculating the tax
adjusted profit. Calculating the income tax liability, with the savings income and
dividend income nil rate bands being examined.
• Corporation tax: Looking at a company with a long period of account, requiring two
corporation tax computations. Corporation tax implications of companies belonging to
a 75% loss group
• Chargeable gains: Calculating gains made by an individual on disposals of
residential property versus disposals of non-residential assets
• Inheritance tax: Calculating IHT on lifetime gifts made within 7 years, with taper
relief, and looking at advantages of lifetime gifts over death gifts
• VAT: Calculation of VAT payable, overseas aspects of VAT and VAT groups
• Watch out for some sort of tax planning question, for example, how profits from a
company should be extracted or looking at the tax planning opportunities available to
married couples.

• For the 60 marks of MCQs in section A & B, the entire syllabus must be covered,
including the more obscure standards (recent questions have covered R&D,
government grants, borrowing costs, investment properties, etc). Also important are
depreciation and revaluation, deferred tax, associates, the effect of company payment
policies, etc on working capital ratios. Watch out also for objective test questions, i.e.
where no alternative answers are given to guide you, usually in numerical
questions. ACCA Exam Tips by LSBF September 2017.
• For Section C: Ratios & interpretation, including adjustments to be made before
comparison to last year or a different company; published accounts with standards,
including cash flow aspects; consolidations.

• Section A: All syllabus areas, including ethics, governance and audit reports.
• Section B: Practical scenario questions on internal control objectives, procedures, and
tests; substantive procedures; audit risk and response.

• Corporate citizenship. • Kohlberg moral development. ACCA Exam Tips by LSBF September 2017 • Strategic choice. ACCA F9 • Section A: Various questions from across the syllabus. • Risk audit. maximin. • Need for Internal audit. ACCA Exam Tips by LSBF September 2017 . • Q4 sees leases as red hot. Meaning it will probably be something else like provisions or goodwill or general corporate reporting. • Objective v subjective risk. ACCA P5 • KPIs linked to stakeholders/mission. including an NPV and business finance ACCA P1 • Agency risk. • Governance principles (e. • Strategic lenses. • Family Companies/2 tier boards. • 6I’s of e marketing. • Enterprise risk management. • Change management. • Section B: Valuations and risk management. • Section C: Investment appraisal. • Independence of NEDs. ACCA Exam Tips by LSBF September 2017 • Rules v principles governance.g. • Bribery & corruption. ACCA P2 • Q1 is a balance sheet or cash flow or p/l in roughly that order of probability but roughly equal probability. • Corporate codes of ethics. ACCA P3 • Strategic analysis. • Internal control reporting and audit (SOX). • Maximax. • Q2 & Q3 will be the usual mix of the usual suspects including fi and dt and nca and sbp and revenue and provisions and so on. • Tucker 5 questions. • Director remuneration. transparency. scepticism).

• Group question. Domicile including deemed domicile and election to be treated as the UK domiciled and deed of variation. • Link between IT systems and KPIs. ACCA P6 • IHT with the death estate including BPR and APR and lifetime gifts. • Remittance basis and overseas aspects of capital gains tax • Investment in a VCT/SEIS the theory versus investing in a registered pension scheme. including money laundering.• Corporate failure. including key audit matters and going concern paragraphs. quality control. • Audit report Impacts. • Relief for trading losses made by a sole trader/partnership at the end of the trading cycle. • Share incentive plan versus EMI share option scheme. • Due diligence. gifts with reservation and relief for a fall in value. • Ethics and professional issues. • Personal service company. • Ethics. the sale of shares versus the sale of the trade and assets. ACCA P7 • Business risk and risk of material misstatement. advertising. • Takeovers and mergers. • Overseas aspects of corporation tax including branch versus subsidiary. • Audit procedures/matters + evidence (expect IFRS 16 Leases). • Property business profits including rent a room relief and the advantages of furnished holiday letting properties. ACCA Exam Tips by LSBF September 2017. • Laws and Regulations (ISA 250) and reporting non-disclosure . • Big data/data analytics in future auditing.