FIA MA1 September 2021 to August 2022 1

FIA MA1 Management Information

1. Nature of business organisation and accounting systems 3

2. Management Information 13

3. Source Documents 19

4. Coding Systems 25

5. Cost Classification 31

6. Cost Units, Cost Centres, Profit Centres and Investment Centres 41

7. Accounting for Materials Costs 49

8. Labour Costs and Remuneration Methods 55

9. Accounting for other expenses 61

10. Accounting for product costs 67

11. Spreadsheets 75

12. Presenting information in spreadsheets 85

Answers to Examples 91

Answers to Tests 99
FIA MA2 September 2021 to August 2022 1

MA2 Managing Costs and Finance

1. Management Information 3

2. Cost Accounting Systems and Cost Recording 17

3. Cost Classification 33

4. Accounting for Material Costs And Inventory Management 45

5. Accounting for Labour 61

6. Accounting for Overheads – Marginal Costing and Total Absorption Costing 71

7. Job, Batch and Process Costing 83

8. Cost-Volume-Profit (CVP) Analysis 93

9. Short Term Decision Making 105

10. Capital Investment Appraisal 121

11. Cash Management 137

12. Information for comparison 157

Answers to Examples 163

Answers to Questions 181

September 2021 to August 2022 exams 1

Management Accounting (MA)

Formulae Sheet 3
1. Accounting for Management 7
2. Sources of Data 11
3. Presenting Information 13
4. Cost Classification and Behaviour 15
5. Ordering and Accounting for Inventory 21
6. Inventory Control 25
7. Accounting for Labour 31
8. Accounting for Overheads 33
9. The Management Accountant’s Profit Statement – Absorption Costing 39
10. The Management Accountant’s Profit Statement – Marginal Costing 41
11. Process Costing – Introduction 45
12. Process Costing – Losses 49
13. Process Costing – Work-in-Progress 53
14. Process Costing – Joint Products 57
15. Job, Batch, and Service Costing 61
16. Alternative Cost Accounting 63
17. Budgeting 65
18. Behavioural Aspects of Budgeting 73
19. Semi-Variable Costs 75
20. Time Series Analysis 79
21. Index Numbers 81
22. Big Data 85
23. Measures of Average and of Dispersion 87
24. The Normal distribution 93
25. Interest 95
26. Investment Appraisal 101
27. Variance Analysis 105
28. Performance Measurement Overview 107
29. Financial Performance Measurement 109
30. Non-Financial Performance Measurement 115
31. Divisional Performance Measurement 117

Answers To Examples 119

September 2022 to June 2023 exams 1

Performance Management (PM)

Formulae 3
1. Activity based costing 6
2. Target costing 8
3. Life-cycle costing 10
4. Environmental Management Accounting 14
5. Throughput accounting 16
6. Limiting factors 20
7. Pricing 22
8. Cost Volume Profit Analysis 30
9. Short-term decision making 34
10. Risk and Uncertainty 38
11. Budgeting 42
12. Quantitative analysis in budgeting 50
13. Standard Costing and Basic Variance Analysis 54
14. More variance analysis 58
15. Financial Performance Measurement 64
16. Non-financial performance measurement 68
17. Divisional performance measurement 70
18. Transfer Pricing 74
19. Performance in the not-for-profit sector 78
20. Managing Information 80
21. Using Information Systems 82
22. Big Data 84
23. Employability and Technology Skills 90

Answers to Examples 94
September 2022 to June 2023 exams 1

Advanced Performance Management

(APM)
SYLLABUS 3
1. The Nature of Performance Management 5
2. Strategic Management Accounting 11
3. Performance Management and Control of the Organisation 21
4. Business Structure, Management Accounting and Change 29
5. Effect of Information Technology on Strategic Management Accounting 37
6. External Influences on Organisational Performance 53
7. Risk and Uncertainty 61
8. Sources of Management Information 65
9. Financial Performance Measurement 75
10. Divisional Performance Measurement 79
11. Non-Financial Performance Measurement 89
12. Performance in the Not-For-Profit Sector 93
13. Transfer Pricing 95
14. Discounted Cash Flow Techniques 103
15. Behavioural Aspects of Performance Management 107
16. Current Developments in Management Accounting 109
17. Use and Misuse of Numerical Data 117

EMPLOYABILITY AND TECHNOLOGY SKILLS 137

PROFESSIONAL SKILLS 141

ANSWERS TO EXAMPLES 145

PRACTICE QUESTIONS 157

PRACTICE ANSWERS 173

September 2022 to June 2023 exams 1

ACCA Financial Reporting (FR)

CONCEPTUAL AND REGULATORY FRAMEWORK 3
1. IASB Conceptual Framework 3
2. Regulatory Framework 9

PUBLISHED COMPANY ACCOUNTS 11

3. Presentation of Financial Statements (IAS 1) 11
4. Statement of cash flows (IAS 7) 17

ACCOUNTING STANDARDS 23
5. Non-current assets 23
6. Intangible assets (IAS 38) 31
7. Impairments (IAS 36) 33
8. Non-current assets held for sale and discontinued operations (IFRS 5) 37
9. Accounting policies, changes in accounting estimate and errors (IAS 8) 41
10. Inventory (IAS 2) and Agriculture (IAS 41) 45
11. Financial instruments (IFRS 9) 49
12. Leases (IFRS 16) 55
13. Provisions, contingent assets and contingent liabilities (IAS 37) 61
14. Events after the reporting date (IAS 10) 67
15. Income taxes (IAS 12) 69
16. Revenue from contracts with customers (IFRS 15) 75
17. Foreign currency (IAS 21) 81
18. Fair Value (IFRS 13) 83
19. Earnings per share (IAS 33) 85

ANALYSIS AND INTERPRETATION 87

20. Financial performance (profitability) 87
21. Financial position 91
22. Investor analysis 95

GROUP ACCOUNTS 97
23. Consolidated statement of financial position 99
24. Group statement of profit and loss 113
25. Associates (IAS 28) 119

SOLUTIONS 125
September 2022 to June 2023 exams 1

Strategic Business Reporting (SBR-INT/UK)

CONCEPTUAL AND REGULATORY FRAMEWORK 3
1. IASB Conceptual Framework 3

PUBLISHED COMPANY ACCOUNTS 7

2. Presentation of Financial Statements (IAS 1) 7

GROUP ACCOUNTS 11
3. Basic group structures 11
4. Joint Arrangements (IFRS 11) 23
5. Changes in group structure 25
6. Foreign currency (IAS 21) 31
7. Group statement of cash flows 35

ACCOUNTING STANDARDS 43
8. Non-current assets 43
9. Intangible assets (IAS 38) 49
10. Impairments (IAS 36) 51
11. Non-current assets held for sale and discontinued operations (IFRS 5) 53
12. Employee benefits (IAS 19) 55
13. Share based payments (IFRS 2) 59
14. Financial Instruments (IAS 32, IFRS 7 and IFRS 9) 63
15. Fair Value (IFRS 13) 71
16. Operating segments (IFRS 8) 73
17. Revenue from contracts with customers (IFRS 15) 75
18. Leases (IFRS 16) 81
19. Inventory 87
20. Deferred tax (IAS 12) 89
21. First time adoption (IFRS 1) 93
22. Provisions, contingent assets and liabilities (IAS 37) 95
23. Events after the reporting date (IAS 10) 97
24. Accounting policies, changes in accounting estimate and errors (IAS 8) 99
25. Related parties (IAS 24) 101
26. Earnings per share (IAS 33) 103
27. Interim financial reporting (IAS 34) 105
28. Small and medium sized entities 107
29. Integrated Reporting <IR> 109

ETHICS AND CURRENT DEVELOPMENTS 111

30. Ethics 111
31. Management Commentary and Interpretation of Financial Statements 113
32. Current issues 115

ACCA PAPER SBR UK VS IFRS DIFFERENCES 119

EMPLOYABILITY AND TECHNOLOGY SKILLS 123

ANSWERS 125
September 2022 to June 2023 exams 1

Financial Management (FM)

Formulae 3
1. Financial management objectives 7
2. The financial management environment 9

Working Capital Management 19

3. Management of working capital (1) 19
4. Management of working capital (2) – Inventory 25
5. Management of working capital (3) – Receivables and Payables 31
6. Management of working capital (4) – Cash 35

Investment Appraisal 41
7. Investment appraisal – methods 41
8. Relevant cash flows for DCF 47
9. Discounted cash flow – further aspects 53
10. Investment appraisal under uncertainty 57

Business Finance and Business Valuations 61

11. Sources of finance – equity 61
12. Sources of finance – debt 65
13. Capital structure and financial ratios 69
14. Sources of finance – islamic finance 75
15. The valuation of securities – theoretical approach 77
16. The valuation of securities – practical issues 83
17. The cost of capital 85
18. When (and when not!) to use the WACC for investment appraisal 91
19. The cost of capital – the effect of changes in gearing 95
20. Capital asset pricing model 101
21. CAPM and MM combined 105

Risk Management 107

22. Forecasting foreign currency exchange rates 107
23. Foreign exchange risk management 111
24. Interest rate risk management 119
25. The treasury function 125

Employability and Technology Skills 127

26. Employability and Technology Skills 127

Answers to examples 131

September 2022 to June 2023 exams 1

Advanced Financial Management (AFM)

Formulae 3

1. Objectives of Organisations 9

2. Conflicts of Interest and Their Resolution 11

3. Strategy Formulation 13

4. Corporate Dividend Policy 19

5. Behavioural Finance 21

6. The Cost of Capital 23

7. Portfolio Theory 29

8. The Capital Asset Pricing Model 31

9. Discounted Cash Flow Techniques 37

10. Risk and Uncertainty 45

11. The Valuation of Debt Finance, the Macaulay Duration and the Modified Duration 49

12. The Impact of Financing 55

13. Share Options and Option Pricing 59

14. Real Options 67

15. Mergers and Acquisitions 69

16. The Valuation of Acquisitions and Mergers 73

17. Corporate Reorganisation and Capital Reconstruction Schemes 81

18. Foreign Exchange Risk Management (1) 85

19. Foreign Exchange Risk Management (2) 95

20. Interest Rate Risk Management (1) 99

21. Interest Rate Risk Management (2) 107

22. Exchange Rate Determination 109

23. International Operations 113

24. Sources of finance – Islamic Finance 115

Employability and Technology Skills 117

Financial Management Terms 125

Answers to Examples 131

ACCA Taxation (TX-UK) (FA2021)

ACCA Taxation (TX-UK)

CONTENTS

Contents
TX-UK Syllabus iii
Tax rates and allowances vii
1 The UK Tax System 1
2 Income tax computation 5
3 Property Income and Investments – Individuals 15
4 Tax Adjusted Trading Profit – Individuals 21
5 Capital Allowances 25
6 Trading Profit – Basis Periods 37
7 Tax Adjusted Trading Losses – Individuals 43
8 Partnerships 49
9 Employment Income 53
10 Pension Schemes 65
11 National Insurance Contributions (NIC) 69
12 Capital Gains Tax – Individuals 71
13 Capital Gains Tax – Individuals – Shares 81
14 Capital Gains Tax – Individuals – Reliefs 85
15 Self-Assessment and Payment of Tax for Individuals 95
16 Corporation tax 99
17 Long Period of Account 105
18 Tax Adjusted Losses – Companies 107
19 Chargeable Gains – Companies 111
20 Chargeable Gains – Companies – Further Aspects 115
21 Chargeable Gains – Companies – Reliefs 119
22 Corporation Tax – Groups 121
23 Self Assessment and Payment of Tax for Companies 127
24 Inheritance Tax 131
25 Value Added Tax – VAT 145
26 Tax Planning style questions 159
Answers to examples 169
Practice Questions 227
Practice Answers 247