Module F study

noman · 08-26-2010, 04:37 AM

I need some tips on prep..
..
Audit.....the approach to study...which areas are more important for exams..and any sequence or grouping of topics to make it easier to prepare for the exam??

Managment Accounting.......

most important topics/areas of syllabus
which is best relevant practice material available?

Business Finance Decision......
-best practice material
-most important topics to cover
-which one to give more emphasis and time
-sequence of study

Tax.....

-Sequence/planning of topics to study
-Synopsis by Mirza Munnawar and Khalid Petiwala are known books.....is it important to spend time studying the ordinance also??

Nauman · 08-27-2010, 07:09 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by noman
 I need some tips on prep..
..
Audit.....the approach to study...which areas are more important for exams..and any sequence or grouping of topics to make it easier to prepare for the exam??
<hr height="1" noshade id="quote"></blockquote id="quote">

Audit is tricky, one look at the paper and your first opinion is that you can attempt this paper without studying the auditing standards provided you have done two to three audits properly at semi senior / senior level. However you have to study because a closer look at questions atleast 60% of paper can be attempted from the standards. Go through standards at least once (twice is good). You can ignore the practice standards (Banks etc wale). Do not ignore Code of Ethics and ISQC, these are very important. These are tested in every attempt and are straight from text, people loose out as they ignore these to. These are supposed to be solid marks as examiner picks out scenarios right out of text given in standards.

Spend good time on past papers and get your hands on ICAEW audit papers these have very good scenario based questions. In last 4 ICAP attempts examiners emphasis is on scenario based questions so practice these and you will get a hang of them. Bottom line is that this is not a rata paper, your practical experience in audit will help you a great deal. If you have time take a look at summary of comforts (audit programs) of all Balance sheet and P/L areas so that audit steps are on your finger tips.

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by nomanManagment Accounting.......

most important topics/areas of syllabus
which is best relevant practice material available?
<hr height="1" noshade id="quote"></blockquote id="quote">

This is a simple paper, if you are not taking classes (there is no need too), I took classes from Maqbool sb but at the end of the day my conclusion was that this paper can be attempted without coaching. There are only two books you need for this paper. PBP study text for concept building and PBP revision kit for practice. Go through these throughly once and you are good to go.

Most important areas are decision making, working capital management and variance analysis. Decision making is so important that every question will have elements of decision making in them so practice as many questions as you can.

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by noman
Business Finance Decision......
-best practice material
-most important topics to cover
-which one to give more emphasis and time
-sequence of study
<hr height="1" noshade id="quote"></blockquote id="quote">
Get some coaching for this subject, I will not recommend maqbool sb (I took classes from him but his pace is quick and you lose track quickly). I think you are in Lahore so I would suggest Ehtisham sb of SKANS (highly recommended I heard). As for practice material his notes would be a good start, for basic concept building get Steve Lumby notes, for advanced concepts refer to old 3.7 bpb study text.

You cannot really divide BFD course into topics, if categorized broadly there are only two topics in BFD (Investment appraisal and Risk Management) you have to be through with both of them. For risk management portion get Nigel Brown Notes too (10 pages on foreign exchange risk management). Level of Forex and Interest rate risk management tested in BFD paper is simpler then what you would study in ACCA. So these are supposed to be solid marks. Most of your time would be spent on Investment appraisal as there are a number of variants in this topic. As I said earlier build your concepts, practice through teacher notes and then move onto past papers (revision kit) and kasbati 101 questions.

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by noman
Tax.....

-Sequence/planning of topics to study
-Synopsis by Mirza Munnawar and Khalid Petiwala are known books.....is it important to spend time studying the ordinance also??
<hr height="1" noshade id="quote"></blockquote id="quote">

I studied from KP and my teacher notes (Iqbal sb of SKANS), did FED and Sales Tax from synopsis. However I did go through the Ordinance once to ensure that nothing was left out so it is important to go through ordinance at least once to ensure completeness.

Thats all for now P

noman · 08-27-2010, 07:22 PM

Thanks a lot for info..

i am taking classes of all the subjects for now...BFD from CFE (adnan rasheed) he is very good...
and other three from PAC...jaffer sb audit,salahuddin mac and asim zulfiqar for tax...

where can i get the notes you mentioned??

Steve Lumby
Nigel Brown

Nauman · 08-27-2010, 07:35 PM

Steve Lumby is an ACCA book, available at Waheed Book shop. As for Nigel Brown these are set of articles that appeared in ACCA magazine for 3.7

wicky · 08-27-2010, 09:08 PM

thx gud tips 4 module "f"

imdad1 · 08-28-2010, 01:20 AM

Audit is tricky well keep your study technique simple dont try to be the best target to pass limit your subject boundries.
for Audit u should solve the issue from prespectives of ISAs,TRs,ATRs,CCG,IFRS all mixed.
concentrate on good tagging of audit standards as u are allowed to carry specially focus on code of ethics furthermore attempt icaew past papers they have some real good questions addressinor g code of ethics.

for management accounting.do Module D register for revision specially process and variances do study text bpp do study kit fully and for polishing your skillis also do Colin Drury specially recommended for variances and decision making.also do Chalks folks 100 question answers

for BFD do khalilullah shaikhs class notes for all topics do past papers now a days the examiner is asking old type question i gurantee u can trace questions similar to last two attempts from old past papers.and do chalk floks 100 QS financial managment white coloured book

for tax.do ordinance and KP book plus read sales tax from rizwan manais notes and do remember definitions of FED SED now a days its examiners favourite

Best of Luck

sajid786 · 08-29-2010, 12:13 AM

I request all the members to please tell us for E module papers as well.

Nauman · 08-29-2010, 03:22 PM

There is a separate topic for module E to where this was discussed at length, search for it.