SBR EXAM TECHNIQUES- BY MENON

FOCUS ON TIME LIMIT/MARKS AVAILABLE

CHANGES TO SBR EFFECTIVE SEP 23
 THE CORE ASPECT OF SBR NOT CHANGING/EXAM PAPER STILL THE SAME/4 PROF MARKS
ONLY = 2 for ETHICS & 2 for STAKEHOLDER PERSPECTIVES/SUBJECTS THE
SAME/FUNDMAENTALLY NO CHANGE IN SYLLABUS/TESTING ON APPLICATION
 SUSTAINABILITY REPORTING STANDARDS WILL NOT BE EXAMINED/BUT SUSTAINABILITY
REPORTING REMAINS A TOPIC OF INTEREST BUT NOT THE GRANULAR DETAILS
 REVENUE NOT 5 STEPS/NO MARKS AVAILABLE/INTERESTED IN VARIATION OF CONTRACTS
BUT APPLICATION
 SALE AND LEASE BACK IMPORTANT
 3 AREAS ARE IMPORTANT: LEASES/FI/REVENUE (FOR DIFFERENCES IN UK VARIANT)
PENSION/INTANGIBLE ASSETS/IFRS 5/IAS 36

PROCEDURE FOR EXAM – DON’T MISS A DATE/ UNDERLINE AND TAKE NOTE IF DOB/DOR ETC

1. START WITH REQUIREMENT: CUT AND PASTE/ AND- IMPLIES NEXT HEADING/ CREATE
SUBSECTIONS OR HEADING /FRAMEWORK
2. NEXT LOOK AT MARKS X 1.8 MIN = DETERMINE THE TIME LIMIT
3. NEXT CUT AND PASTE PARA IN THE QUESTION INTO THE RESPECTIVE SUBHEADINGS
4. THEN BREAK THE PARA INTO POINTS/SMALL PARA/WHERE EVER U SEE FULL STOP- BREAK
IT THERE
5. FIRST DO APPLICATION (APPLY QIC) -CHECK MARKS (IF FEW MARKS FOCUS ONLY ON
APPLICATION AND WRITE (CONDENSED ANSWER)/IF MANY MARKS – FIRST DO
APPLICATION AND DECIDE HOW MUCH MUST BE ADDED AS KNOWLEDGE MARKS
(STD/RULE)
(i) HOWERVER IF Q ASK PRINCIPLES- WRITE DOWN THE RULES IN THE STANDARD/(ONLY
WRITE RULES RELEVANT TO THE Q/ DON’T WRITE THE WHOLE STANDARD)
6. IF Q REQUIREMENT ADDRESSES A SPECIFIC STANDARD- USE NARROW SCOPE ANSWER
ONLY MADE REFERENCE TO THAT STANDARD
7. IF Q REQUIREMNT STATES WITH REFERENCE TO RELEVANT STANDARDS OR IASs and IFRSs
use BROAD SCOPE APPROACH (AS MANY STDS AS RELEVANT) -MORE THAN ONE
STANDARD
8. IF Q STATES MAKE REFERENCE TO CF- INCLUDE CF IN YOUR ANSWER
9. COUNT MARKS AND WRITE
QUESTION 1 GROUPS CHECK DOA/DOR /POST/DOD/DOP

CHANGES TO Q1:

 NO CHANGE IN THE SYLLABUS

 SBR=FOCUS ON EXTRACTS/PREPOPULATED SPREADHSHEET GIVEN WITH FULL SET
OF SOFP/SOPL (STUDENTS WONT BE ASKED TO DO FULL SET OF ACCOUNTS) WHERE
STUDENTS HAVE TO MAKE NUMERICAL ADJUSTMENTS TO IT (PLUS OR
MINUS)/EACH ADJUSTMENT IN A SEPARATE COLUMN
 PARENT BOOKS ADJ=DON’T SPLIT INTO H AND NCI
 SUB BOOKS=SPLIT INTO H AND NCI BASED ON CO POLICY/NO EXTRA MARKS FOR
MAKING THE REVISED SOFP TO BALANCE BUT STUDENTS NOT REQUIRED TO TAKE
TOTALS AND PREPARE THE CORRECTED SOFP
 OLD PYQ CAN BE USED BUT CHANGE QUESTIONS TO SUIT NEW FORMAT
 DOUBLE ENTRY IS VERY IMPORTANT
 MUST STILL WRITE THEORY (WORD DOCUMENT)
 FOR THOSE STRONG ON NUMERICS ARE GIVEN AROUND 12 TO 14 MARKS ON THE
SPREADSHEET/NO NEED TO FOCUS ON TOTAL COLUMN OR FOCUS TO TALLY IT
 USE TEST REACH AND PRACTICE/CHUCKLE LTD

TIPS TO DO Q1:

 START WITH REQUIREMENT

 USE THE RESPECTIVE EXHIBIT
 NO NEED TO READ EVERY EXHIBIT BEFORE YOU MAKE A START BUT READ THROUGH ALL
PARTS OF THE REQUIREMENTS/AS PART 3 OF Q MIGHT SAY USING PART 1 AND PART 2=USE
THE EARLIER PARTS TO ADJUST THE NUMBERS
 SO TO DO THE ANSWER ONLY ONCE/DO BOTH PARTS SIMULTANEOUSLY (COOK THE POT
TOGETHER) /EXPLAIN=USE WORD DOCUMENT TO WRITE THE PRINCIPLES AND DO
APPLICATION THEORITICALLY/CAN USE WORD TABLE WITHIN THE EXPLANATION SECTION
 BUT FOR PART 3 USE THE PREPOPULATED SPREADSHEET TO DO THE ADJUSTMENTS
QUESTION 2 ETHICS

ACCOUNTING IMPLICATIONS: STDPRINCIPLEAPPLICATIONS (1STQIC) EFFECT TO FS

ETHICAL IMPLICATION: MDS- MOTIVE-WWDDELIBERATE OR NOT: MISLEAD THE

PU/STAKEHOLDER (WHICH CIL IS BEING MISLEAD)

LOOK OUT IF REQUIREMENT IS FOR WHOSE PERSPECTIVE:

ACCOUNTANT: FOLLOW THE STEPS GIVEN IN CLASS (SUMMARY-6 BLOCKS), but some questions
may only require the ethical principles (write out the first 3 blocks) . If question ask for further
course of action to be taken by accountant (write out the last 3 blocks as well)

FINANCE DIRECTOR: (BOUND BY COE/MEMBER OF A PROF BODY) STEWARDSHIP ROLE

MANAGING DIRECTOR= ALTHOUGH MAY NOT BE A MEMBER OF A PROF BODY=STILL BEHAVE

ETHICALLY=DUTY/RESPONSIBILITY ENSURE THAT FS ARE FAITHFULLY REPRESENTED AS THE PU
RELY ON THIS FS TO MAKE INFORMED DECISIONS=STEWARDSHIP ROLE= ENSURE THAT HE
EFFECTIVELY ANFD EFFICIENTLY EMPLOY THE ECONOMIC RESOURCES ENTRUSTED BY INVESTORS
TO EARN A RETURN.

UNDER THE NEW CHANGES INTRODUCED THIS QUESTION IS LIKELY TO BE 20 MARKS WITH 2
PROFESSIONAL MARKS

ACCOUNTANT: FOLLOW THE STEPS GIVEN IN CLASS (SUMMARY-6 BLOCKS)- 2 PROFESSIONAL

MARKS

IN EXAM QUESTION THE 6 BLOCKS KEY WORDS

1. CHECK IF ACCOUNTANT IS UNDER PRESSURE=ACCOUNTANT SHOULD NOT YIELD TO

PRESSURE AND MUST WORK INNDEPENDENTLY AND OBJECTIVELY.
2. ACCOUNTANT IS COMPROMISING ON ……………. (READ THE CASE STUDY AND IDENTIFY
WHICH OF IOPCP IS BEING COMPROMISED)
3. CHECK IF ACCOUNTANT IS EXPOSED TO ANY THREAT= FASSI (IDENTIFY EXPOSED TO
FAMILIARITY THREAT AND PERHAPS/POSSIBLY ALSO SELF INT THREAT)=ETHICAL DILEMMA
TO DISCUSS
4. THE COURSE OF ACTION TO BE TAKEN=DISCUSSION WITH SUPERIOR AND DISCUSS THE
CONSEQUENCES OF NON -COMPLIANCE WHICH COULD RESULT IN NAME BEING STRUCK
OFF THE REGISTER/BAR FROM MEMBERSHIP/ PENALTY/FINES/IMPRISONMENT. IF THIS
DISCUSSION WAS NOT SUCCESSFUL………………
5. FURTHER COURSE OF ACTION: ACCOUNTANT MUST EMPLOY THE NECESSARY
SAFEGUARDS TO REDUCE OR MITIGATE THE THREAT (FROM INTERNAL
RESOLUTIONS/EXTERNAL RESOLUTIONS)
DISCUSS WITH PEER /COLLEAGUES SEEK ADVICE WHAT NEEDS TO BE DONE
REPORT TO AUDIT COMMITTEE
LEGAL ADVICE/WHISTLE BLOWING
ACCA BOARD OF ETHICS
6. IF NONE OF THE ABOVE THE ACTIONS IS SUCCESSFUL, THEN ACCOUNTANT MIGHT WANT
TO DISASSOCIATE HIMSELF FROM THE JOB. BUT IF THAT IS NOT POSSIBLE, AS A LAST
RESORT CONSIDER RESIGNING (KEEP TRACK/RECORD OF ALL CONVERSATIONS)
QUESTION 3

CASE STUDY: 1st APPLICATION (QIC: 2ND PARA)/ BAL MARKS FOR STD AND RULE AND KNOWLEDGE
(FIRST PARA)

STD/RULE-DEFN/RECOG CRITERIA OR MEAS CRITERIA OR DERECOG= RELEVANT TO

THE CASE/ APPLIC: IN THIS CASE

DO QIC/ CONCLUSION/EFFECT TO FS

ESSAY STYLE: USE THE PARA TO WRITE THE ANSWER (SPECIFIC ANSWER)/INVESTOR PERSPECTIVE
(2 PROFESSIONAL MARKS)

NOTE: DON’T EXPECT TO HAVE ONLY ONE CORRECT ANSWER: IF THE Q IS ASSESMENT BASED

1ST QI

2ND CONCLUSION WITH REASON

3RD ACC TREATMENT=D ENTRIES/EFFECT TO FS

NOTE:

EXPLAIN=STANDARD/RULE (PRINCIPLE)DEFINITION OR RECOGNITION

CRITERIA/DERECOGNITION CRITERIA / MEASUREMENT CRITERIA = INITIAL
MEASUREMENT/SUBSEQUENT MEASUREMENT

APPLICATIONQIC/EFFECT ON FS = WHAT GOES TO SOPL/SOCI/SOFP

DISCUSS= YOUR OPINION WITH REASON/QIC/2 WAY ANSWER IF THIS IS THE CASE…IT COULD
BE…../ OR OF THIS IS THE CASE….ANOTHER ANSWER)

ASSESS=TAKE EACH POINT AND DISCUSS WITH REASONQI/CONCLUDE WITH REASON

HOW =ACC TREATDOUBLE ENTRY OR IMPACT TO FS

CALCULATIONINITIAL MEASUREMENT OR SUBSEQUENT MEASURMENT/COOK THE POT

TOGETHER= WRITE THEORY AND DO CALCULATION SIMULATANEOUSLY

WHY=REASON

VALIDITY OF THE ABOVE STATEMENT LOOK FOR WHAT WAS DONE AND STATE THE
COMPLIEANCE OR NOT…..WHAT SHOULD BE DONE BY DOING THE CORRECTION ENTRY

NOTE:

MARKS TOO LITLLE=WRITE CONDENSED ANSWER/RULE AND APPLIC TOGETHER

CALCULATION/TABLE/OPEN EXTRA COLUMN/WRITE IMPACT TO CSOPL/CSOCI/CSOFP

QUESTION 4

CHANGES TO Q4:

 CURRENT ISSUES: NO MORE A BIG CURRENT ISSUES QUESTION

 NO ED
 BUT AREAS WHERE THERE IS NO STANDARDS (EG
CRYPTOCURRENCY/CROWDFUNDING/NATURAL DISASTER)=USE FRAMEWORK OR SIMILAR
STANDARDS TO DO THE ANSWER
 REBRANDING CURRENT ISSUES TO BE INVESTOR FOCUS=WHAT DO THEY THINK ABOUT
CERTAIN ISSUES
 REFER NEW PILOT PAPER: DISCUSS THE POTENTIAL IMPACT OF THE PROPERTY ACCOUNTING
POLICY MAY HAVE ON INVESTOR’S ANALYSIS OF KIKI FINANCIAL STATEMETNS =ANSWER
SHOULD REFER TO KEY FINANCIAL PERFORMANCE RATIO/INVESTOR ANALYSIS=V V
IMPORTANT/
 GOING FORWARD INVESTOR ISSUES ARE GOING TO BE EXAMINED OFTEN (ACCA SPECIMEN
PAPERS ON THE PRACTICE PLATFORM)/I
 INVESTOR MAY WANT INFORMATION ON FINANCIAL POSITION OR FINANCIAL
PERFORMANCE OR CASH FLOWS SUPPORTED BY KEY PERFOMANCE RATIOS/MORE
STAKEHOLDERS PERSPECTIVE/NEED FOR DISCLOSURES.

THIS Q 4 CAN BE BASED ON

STANDARDS (SEC C/D) - CAN BE ESSAY STYLE/CASE STUDY
REPORTS - SUSTAINABILITY/SOCIAL/ENVIRONMENTAL/IR/PS 1 AND 2/ APM - IMPACT ON
INVESTORS WITH 2 PROF MARKS (SEC -E)
CROWDFUNDING/CRYPTO/ICO/NATURAL DISASTER - include pandemic OF YOUR SYLLABUS (SEC -
F)
QUALITATIVE CHARAC OF FS/OTHER ASPECTS OF RECOG AND MEAS FROM CF 2010/2018
WARNING: DO NOT LEAVE OUT THIS QUESTION
REMEMBER: FIND PART OF THE ANSWER IN THE QUESTION ITSELF/ DON’T PANIC
 START WITH REQUIREMENT
 BREAK IT INTO SUBHEADINGS (AND)
 CUT AND PASTE THE QUESTION INTO THE RESPECTIVE SUBHEADING
 BREAK PARA OF Q INTO POINTS AT EVERY FULL STOP
 AND WORK THROUGH THE QUESTION BASED ON MARK ALLOCATION-INFER PERHAPS
FROM INVESTOR PERSPECTIVE / CUT OUT QUESTION UNNECESSARY WORDS AS YOU
WORK THROUGH QS
 GENERIC ANSWER – IF Q SAYS NO NEED TO REFER EXHIBIT
 SPECIFIC ANSWER – IF ASKED TO REFER EXHIBIT
 DECIDE BROAD SCOPE OR NARROW SCOPE
(1MARK = 1.8 MIN)