Professional Documents
Culture Documents
www.LSBF.org.uk/ACCA
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Contents
01 Introduction
01
Introduction
INTRODUCTION
KNOWLEDGE ESSENTIALS
20-21 22-23 24-25 P1 Governance, Risk and Ethics P2 Corporate Reporting P3 Business Analysis
We know that gaining your ACCA qualication is central to your career plans. So we do everything possible to ensure you pass your papers rst time. You will be taught by experts, chosen for their dedication, experience and knowledge of ACCA. This book of tips gives you further insight into each individual paper, both from those expert tutors and the students they have guided to exam success. Rob Sowerby, Director of Professional Courses
SKILLS
08-09 10-11 12-13 14-15 16-17 18-19 F4 Corporate and Business Law F5 Performance Management F6 Taxation F7 Financial Reporting F8 Audit & Assurance F9 Financial Management 26-27 28-29 30-31 32-33
OPTIONS
P4 Advanced Financial Management P5 Advanced Performance Management P6 Advanced Taxation P7 Advanced Audit & Assurance
F1 Accountant in Business
02
03
F1 Accountant in Business
F1 Accountant in Business
Gain vital insight into the role of the accountant, including the impact of the global business environment upon it. This module will give you a solid understanding of the fundamental factors in the eective management of an organisation.
Student tip:
KNOWLEDGE
Rachel Valdez
Start revising from the very beginning of the session and continue to practise on a daily basis. This will ensure that you are condent and at ease both in your exams and at work. If you want to go far in life and your career, you had better start early.
Knowledge papers
www.LSBF.org.uk
F2 Management Accounting
04
05
F2 Management Accounting
F2 Management Accounting
Develop essential knowledge and an in-depth understanding of how to prepare and process basic cost and quantitative information to support management in planning and decisionmaking in a variety of business contexts.
Student tip:
KNOWLEDGE
Shahzad Ali Masood Rahim
Pay close attention to the precise requirement of each question. Its important to understand what the examiner wants before you answer the question, rather than realising halfway through that you have misinterpreted the requirement of the question.
Student tip: Do mock exams and past papers in a time-bound scenario, helping you to complete exams on time. Moreover, the exams kits are very helpful for understanding how examiners want you to answer a question.
Knowledge papers
www.LSBF.org.uk
F3 Finacial Accounting
06
07
F3 Finacial Accounting
F3 Financial Accounting
Develop a clear understanding of the fundamental principles, concepts and regulations surrounding nancial accounting. You will become procient with double-entry accounting techniques and will learn how to prepare rudimentary nancial statements.
Knowledge papers
KNOWLEDGE
Ali Abbas Shahneel Shahid
Student tip:
Firstly, you should make sure you get ACCA approved notes. Then I would recommend going through the exam kit at least twice. In the exam itself, ensure that you dont spend a single second more on each question than is necessary.
Student tip:
When revising, one should quickly go through the chapters and make a mental image of the pages. When revising through LSBF class notes, I make an image of every page in my mind. In this way, all the topics can be easily recalled.
www.LSBF.org.uk
08
09
TUTOR TIP: Debbie Crossman Pay attention to the examiners requirements. You must answer the question that your examiner has set not perhaps the one you would have liked him to have set. So this leads me to my second tip. Enrol on a Revision Course to get that all essential practice at HOW to answer YOUR examiners questions.
SKILLS
Mobeen Khan Mubashir Riaz Mirani
Student tip:
The key is to strategise from an exam-focused point of view. An analysis of the past papers and the pattern of the papers can achieve a lot. The examiners reports and answers are also great tools for concentrating your eorts in the most eective way.
Student tip:
The important thing students need to bear in mind is that they have to tackle the pressure in three hours and must complete the paper in time. In my experience, remembering this is the key to success.
Skills papers
www.LSBF.org.uk
F5 Performance Management
10
11
F5 Performance Management
F5 Performance Management
Develop the ability to apply management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.
SKILLS
Muhammad Nouman Shaque Awan Cashel Ephraim
Student tip:
Focus on gripping the basics of any particular topic, memorising the concept. When it comes to the exam, start by jotting down a few lines about the basic concept and then apply it to the scenario. This way, gaining marks might become easier.
Student tip:
Try to complete the entire syllabus at least one month prior to the exam. This will ensure that you have a clear understanding of all areas of the syllabus and will allow you to dedicate the entirety of the next month to past paper questions.
Skills papers
www.LSBF.org.uk
F6 Taxation
12
13
F6 Taxation
F6 Taxation
The introductory paper for taxation examines all major types of tax, including Income Tax, Corporation Tax, and VAT. You will learn the basics of all these taxes, and will also be able to calculate tax computations.
Student tip:
SKILLS
Raihana Kamawal Low Kang De
Do not cherry pick topics while preparing for your exams, as you never know what will come up. And practice makes perfect, so practise as many questions as you can, arranging group study sessions to share your knowledge if you can.
Skills papers
www.LSBF.org.uk
F7 Financial Reporting
14
15
F7 Financial Reporting
F7 Financial Reporting
This paper covers the crucial discipline of nancial reporting. You will learn both the theory behind preparing nancial statements, and the methods required to evaluate and interpret the nancial statements of a business.
Student tip:
SKILLS
Saifullah Shaikh Syed Ali Ul Hassan Gillani
Student tip:
Always try to understand the underlying concepts behind the given topic. While you may be able to earn some marks for pure knowledge, most marks in ACCA exams are awarded for the application of concepts in a given scenario.
Divide your time equally in proportion to the marks available for each question/sub question. Make an answer plan. Even if it is only brief notes beside the question, it will help you cover all your points and give a structure to your answer.
Skills papers
www.LSBF.org.uk
16
17
SKILLS
Rachel Valdez Junaid Ali
Student tip:
Do past exam questions as well in an exam kind of environment. Time yourself. Remember that time is always, always of the essence -- not only during exam, but as well as during revision.
Student tip:
To revise any ACCA paper, it is good to learn every single paragraph of the theory section and then rewrite it in your own words. While revising a numerical question, rst revise all the formulas that are going to be used in a question.
Skills papers
www.LSBF.org.uk
F9 Financial Management
18
19
F9 Financial Management
F9 Financial Management
Gain the key knowledge and skills required to become a Financial Manager. These include business and investment appraisal, management of capital and risk management.
SKILLS
Quy Phi Vinh Maricel Garcia
Student tip:
There are many easy marks to be gained for each question. You should answer all the questions to gain as many easy marks as possible. This is better than trying gain one mark on a dicult question.
Student tip:
Always make a point of reading the question rst, taking note of important parts and planning your answers. Conducting group discussions and nding a study partner can also help you by allowing you to share your understanding of the topic.
Skills papers
www.LSBF.org.uk
20
21
ESSENTIALS
Abhinav Kumar Maleeha Akbar
Student tip:
Dont use real world examples in theory papers such as P1, P3 etc. Markers wont reward you for that because everything they expect from you is always there in the case study, so dont waste your time giving references to other companies.
Often, the compulsory question is based on real-life events, allowing all three parts of the syllabus to be tested. You should, therefore, consider organisations with governance issues and how they control their exposure to risk and any resultant ethical dilemmas.
Essentials papers
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P2 Corporate Reporting
22
23
P2 Corporate Reporting
P2 Corporate Reporting
Learn how to evaluate various types of nancial reports, in a range of business contexts. The paper covers everything from nancial reporting frameworks to professional ethics.
ESSENTIALS
Raihana Kamawal Hendri Lee
Student tip:
Take those subjects that are linked to one other. For instance, P2 and P7 go really well together. Moreover be focused and understand each area of the syllabus in depth.
Essentials papers
www.LSBF.org.uk
P3 Business Analysis
24
25
P3 Business Analysis
P3 Business Analysis
This paper is about what businesses can do to improve prots. At the end of the course, you will have developed your analytical skills, and your ability to identify WHY issues aect an organisation and why businesses take certain actions.
Student tip:
ESSENTIALS
Rachel Valdez Usman Ghani
Student tip:
Students should try to form study groups to reinforce what they have read in books. This will help them to pass exam papers as they know better than those who only studied from given materials.
Apply theories by answering past exam questions and using the revision kit. Practising gives you a better understanding of study notes and texts. Make sure you answer the questions without the answer key and note your mistakes so you wont repeat them.
Essentials papers
www.LSBF.org.uk
26
27
OPTIONS
Rachel Valdez Wilson Tan Kee Hoong
A month before the exam, if time permits, do the revision kit again. Otherwise, do those questions you had a hard time answering/understanding. Be consistent, persistent, work smartly, and lastly, have faith in yourself!
Options papers
www.LSBF.org.uk
28
29
OPTIONS
Atif Hashaam Cheng Jun Hong Paul
Start from scratch and keep on scratching. What dents the students performance more is not failing to read and understand stu, but pretending that you know. Even if you know something, revise it thoroughly before you sit the paper.
Options papers
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P6 Advanced Taxation
30
31
P6 Advanced Taxation
P6 Advanced Taxation
Develop the ability to make well-informed business decisions based on insight into the impact of large-scale taxation. A large part of this ability comes from accurate evaluation of organisations performance.
Student tip:
Be Committed! Be Dedicated!
OPTIONS
Salman Samnani Cashel Ephraim
Student tip:
Look at the trends in past exams, and focus on topics which come up very frequently. In some papers there are certain topics that will always be tested, and it is important to have a clear understanding of those topics because they are giveaway marks in the exam.
Ask if you dont understand, and practise, practise and practise youll pass the exam!
Options papers
www.LSBF.org.uk
32
33
OPTIONS
Cashel Ephraim Kunal Durjan
Look for syllabus areas that have not been tested in a long time and give those areas a lot of attention. Pay close attention to the question structure which would be the dierent ways a particular topic can be tested.
Options papers
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www.LSBF.org.uk/ACCA
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