Exams Digest – Issue 1

theaccablog —  October 23, 2015 — Leave a comment

Exams Digest

Welcome to the first issue of our Exams Digest!

We know that preparing for the ACCA examinations is not a walk in the park.

To help you along, we have put together a series of posts that will provide advice and tips around the ACCA examination papers.

These will be posted every fortnight from now till just before the ACCA examination week and will equip you with the must-knows you will need to ace your upcoming examinations.

This week, we will summarize some useful tips (examiner’s report) on the Past Papers F1 to F3 (CBE & Paper exams) from January to June 2015.

F1, Accountant in Business

Areas where more emphasis is needed include:

  • Non-governmental organisations
  • Tuckman’s team development theory
  • Intrinsic rewards
  • Corporate codes of ethics
  • Distinction between the roles and duties of internal and external auditors
  • Legislation’s impact on the labour market and wages
  • Newer organisational models (e.g. hollow, modular, virtual)
  • Herzberg’s two factor theory

F2, Management Accounting

The worst answered questions in section A were calculation based – accounted for approximately 46%.

Common problems with section B include:

  • Poor understanding of purchases budgets
  • Lack of ability to calculate and explain (e.g. fixed production overhead expenditure, volume, capacity etc.)
  • Imprecise knowledge of value for money concepts

F3, Financial Accounting

The examiners noted that there were certain areas of this paper that candidates did not seem to possess a solid grasp of.

Consolidated Statements of Financial Position, for example:

  • Share capital
  • Share premium balances
  • Intra-group trading
  • Adjustments of receivables and payables
  • Adjustment of dividends etc.

In preparation of a Statement of profit or loss (for sole trader),

  • Decide what to include in the statement of profit and loss
  • Decide what adjustments or calculations are required
  • Depreciation figure to be calculated using a slated method is usually required
  • Show your workings and reference them to figures in the statement

To see what else the examiners said for these papers, click on the links to the self-study guides below.

Disclaimer: For the complete and detailed examiner’s reports and guidance, please refer to the respective self-study guides of the respective papers. 

Exam Support Resources

There are a wide range of resources available to help you prepare for success in your exams. You can practice exam-style questions, gain insights from the Examining Team on how to approach the exam, or broaden your understanding of exam topics.

To access these resources, click here and use the filters to select the papers that you are studying for.

Here are the key exam support resources highlighted in a nutshell (Please click the respective links):

F1 Accountant in Business Self Study Guide

To download, please click here.

F2 Management Accounting Self Study Guide

To download, please click here.

F3 Financial Accounting Self Study Guide

To download, please click here.

We hope you found these useful, and we end off with some study tips from our student ambassador, Wang Rui Qin.

Exams Tips

Stay tuned for the next issue of our Exams Digest where we bring you highlights of Paper F4, Corporate and Business Law.

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