Exam Digest for the F Papers – Issue 3

eemeiyi —  February 22, 2017 — Leave a comment

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Exam Digest for March 2017 Exams

F7 Financial Reporting

Section A contained 15 objective testing questions of 2 marks each, for a total of 30 marks, Section B contained three scenarios consisting of 15 objective testing questions of 2 marks each, for a total of 30 marks and Section C contained two questions of 20 marks each, for a total of 40 marks.

Candidates need to have knowledge of the entire syllabus and will not be successful if they simply rely on ‘question spotting’ a few selected areas for study. This is especially important given the format of the examination outlined above.

To pass F7, students must have a good all-round knowledge of financial reporting, rather than attempting to focus on what students may perceive to be ‘major’ areas of the syllabus.

The paper was a fair test of familiar topics, and well prepared students would have been able to score well.

The most pleasing thing regarding the results showed that there were similar levels of performance across all three sections, highlighting that students are studying the wider syllabus well rather than focusing on the areas covered in section C.

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F8 Audit and Assurance

There were two sections to the examination and all the questions were compulsory. Section A consisted of three OT cases each comprising of five OTs for a total of 30 marks, which covered a broad range of syllabus topics. Section B had one constructed response question worth 30 marks and two constructed response questions worth 20 marks each; testing the candidates’ understanding and application of audit and assurance in more depth.

In order to pass this examination, candidates should ensure they devote adequate time to obtain the required level of knowledge and application. Candidates who do not spend sufficient time practicing questions are unlikely to be successful as the constructed response questions in particular aim to test candidate’s application skills.

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F9 Financial Management

Section A contained 15 objective test questions of 2 marks each, for a total of 30 marks, Section B contained three scenarios consisting of 15 objective test questions of 2 marks each, for a total of 30 marks and Section C contained two questions of 20 marks each, for a total of 40 marks.

Given the format of the examination outlined above, candidates need to be aware that they require knowledge of the entire syllabus and will not be successful if they simply rely on ‘question spotting’ a few selected areas for study.

In common with all of the ACCA examinations, for success to be achieved, there is a significant investment required in terms of time, discipline and energy in order to obtain the necessary level of knowledge and application. Candidates should manage their own learning well and not be totally reliant on a single textbook or revision course for their knowledge.

In Section C, where there are two questions of 20 marks each, it continues to be of importance for candidates to be precise in presenting answers. In these 20 mark questions, all workings should be shown and should be presented with the same neatness of presentation as the main schedule of figures. This applies equally to candidates sitting either the paper based examination or the computer based examination (CBE).

In the CBE, having the use of a spreadsheet does not remove the need to show the build up to, for example, an internal rate of return (IRR) or to show the detail of a cost of equity calculation, nor does having the ability to type an answer remove the necessity to write professionally with good use of the English language. In too many cases, written answers were poorly structured with both grammatical and typographical errors.

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This is the final issue for the Exam Digest (F Papers). Best of luck for your exams. Give it your best shot, we are confident you can make it!

 

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