Exam Digest for the F Papers – Issue 1

eemeiyi —  November 3, 2016 — Leave a comment

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Have you started your revision?

It is only a month away to the December exams and to help you with your revision, we have put together bite-sized information to supplement your revision, which include examiner’s reports, lecturers’ tips, and revision resources.

F1 Accountant in Businessedf1

The examination was divided into two parts. In Part A candidates were asked to answer 46 questions, worth 1 or 2 marks each. In Part B candidates were asked to answer 6 questions worth 4 marks each, some of which were based on scenarios.

Part A

Syllabus topics on which candidates performed very well included simple contract, communications, Tuckman’s team development theory, time management and the training process.

Syllabus topics which candidates found more challenging included fiscal policy, the role of a Secretary to a meeting, substantive tests in the context of different types of audit, performance appraisal and certain aspects of ethics.

A minority of candidates did not answer all of the questions in Part A. This is unwise, as even an educated guess may enhance the overall mark for the paper.

Part B

Candidates struggled with some concepts relating to types of unemployment. The main confusions arose from a misunderstanding of the features of frictional and structural unemployment, and crucial differences between them. On a similar question candidates had problems in identifying an example of supply-side policy.

Candidates were generally very competent in identifying the departments which are responsible for various business activities, though the procurement function caused most problems. Candidates experienced some problems with identifying the originators of some motivation theories, often confusing Herberg, Maslow and McGregor. Knowledge of Vroom’s expectancy theory was also disappointing. An ethics scenario caused considerable difficulty. Candidates did not understand the threats to independence, suggesting that this important topic requires more study.

Read the full Examiner’s report here.

Resources to help you prepare

More resources

F2 Management Accountingedf2

The examination consists of two sections. Section A
of the paper contains 35 objective test questions – each worth 2 marks, and section B contains 3 MTQs worth ten marks each. All questions are compulsory.

Section A

The worst answered MCQ questions were calculation based. Calculation questions accounted for approximately 49% of section A questions, and as usual were answered worse than the narrative based MCQs. Eight out of the 10 worst answered section A questions were calculation based in the June diet.

Section B

Approximately one half of the marks were for calculation. There was little difference in performance between section B calculation and narrative questions. However there was some evidence that candidates performed worse on section B MTQ questions than on section A objective test questions.

Read the full Examiner’s report here.

Resources to help you prepare

More resources

F3 Financial Accountingedf3

There are two sections to the examination paper and all of the questions are compulsory. Section A consists of 35 multiple choice questions (two marks each) and covers a broad range of syllabus topics. Section B has two longer questions (15 marks each) testing the candidates’ understanding and application of financial accounting skills in more depth.

Section A

This section tests a wide range of the syllabus and the majority of candidates usually attempt all of the questions. Candidates are therefore advised to have a thorough knowledge of the entire syllabus and to practice multiple choice questions. It is important to read the questions carefully and calculate any figures required before choosing a response.

Section B

In this section candidates are usually required to prepare detailed answers which test their understanding and ability to draft financial statements. Candidates must ensure they use the correct format to present their answers and know how to apply various accounting techniques. Neat and logical workings should always be presented so even if the final answer is wrong, marks can be awarded for method.

Read the full Examiner’s report here.

Resources to help you prepare

More resources

Stay tuned for more next week ….

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