ACCA F4考试常见问题Q.What is the difference between a Limited Partnership and a Limited Liability Partnership(LLP)?
Q.What is the difference between a Limited Partnership and a Limited Liability Partnership(LLP)?
A.A Limited Partnership was formed under the 2007 Act and allowed partnerships to have at least one unlimited partner.An LLP is governed by the 2000 Act and under this all partners have limited liability,restricted to the amount of capital invested.
Q.What is the difference between revocation of an offer and rejection of an offer?
A.Revocation is where the offeror(the person making the offer)takes back his offer.For example,someone who is offering for sale a car,changes their mind.Rejection of an offer is where the offeree(the person to whom the offer is made)does not accept the offer.For example,they decide not to buy the car.
Q.Is it necessary,in respect of cases quoted in my answer,to give the full name,facts and date of the case?
A.The name is not usually essential(although some,e,g,Salomon v Salomon&Co.Ltd,should never be forgotten).In most answers it is sufficient to say‘in a decided case…….’and then give an outline of the facts.Sometimes the facts are not necessary if the legal principle behind the decision is discussed.I would not expect students to remember the date of cases.
Q.Do I need to know all of the cases?
A.No,there isn’t a need to learn all of the cases–just the ones that are the most important;these will have been highlighted as part of your Kaplan courses–so make a note of them as you go along for revision references.
Q.If there’s a linear programming question and I need to draw a graph,will I be given graph paper?
Q:Are there any guaranteed topics?
A:No,although you can expect a question from each of the 5 sections of the syllabus–that’s what has happened so far since the exam moved from 4 questions to 5,and it seems reasonable to assume that will continue given that,in this way,the exam will have tested as broad a range of skills as it can.
Q:Will we be examined on a topic which appeared in the previous exam?
A:Yes,it is possible,although maybe in a different context:e.g.:in one paper a question asked for pricing strategies relevant for an established brand,whereas in the exam 6 months later the question asked for pricing strategies which would be relevant for the launch of a new product.
Q.What is the percentage breakdown of the paper between written and numbers?
Q.Why are some of the past paper questions 25 marks and some 20 marks?
A.ACCA changed the exam format in 2009.
Q.If I get a calculation wrong at the beginning of a question will I lose all the marks for my subsequent answer?
A.No.Each mistake is penalised only once;then follow through marks are given based on your incorrect answer.
Q.If I get to the exam late will the ACCA give me extra time?
A.No the exam finish time will not be extended for late comers.
Q.Where will I write my answers to the questions?
A.ACCA provide exam booklets to each student and additional booklets are provided if required.
Q.Do I need to show my workings?
A.Yes,definitely!There are many calculations in F5 and it is very easy to make an error on one calculation and then carry that mistake forward through the rest of your answer.If no workings are shown then the marker has no scope to award any marks at all.If workings are shown then you will simply lose the marks for the one initial calculation error.
Q.Can I pass by just learning the calculations?
A.No,the F5 exam can sometimes be as much as a 50:50 split with regards marks available for both the calculations and discussion aspects.Being able to write around the numbers calculated is vitally important.The good news is,the situations you will find in the questions,and the questions tend to be quite similar.For example,a question on variances and assessing the performance of a production director will usually centre around them having made very poor/good decisions so the discussion of this shouldn’t be too difficult.
Q.Why don’t I include all NS&I interest in the income tax computation?
A.National Savings Certificates are exempt from income tax and should be noted as such and excluded from the computation.NS&I easy Access Accounts and NS&I Investment Accounts are paid gross and should be included in the computation as the amount received.
Q.What are the core areas I need to learn?
A.You can find this at the front of the Kaplan Complete Text or on the ACCA website,but generally these are Income tax,corporation tax,capital gains tax,VAT and inheritance tax.
Q.How much work do I need to do?
A.Enough for you to feel confident on the day,I always say you don’t want to feel you’ve let yourself down due to a lack of work as that is one thing you can control!
Q.Where can I find good practice questions?
A.Use the Kaplan Exam Kit,complete the revision mock and attend a Kaplan Question Based Day.
Q.Where can I access relevant articles?
A.They are all on MyKaplan or the ACCA website.Ensure you look at articles updated for the current Finance Act.
Q.Are proformas important?
A.Proformas are vital to success in this exam.The examiner will be expecting you to use the correct layout for each question.If he has to search through your question paper for the answers,this will not improve his disposition.For adjustment of profit,ensure you put‘0’if the amount is allowable.
Besides which,proformas give you the student,an easy way to remember the key elements of each individual tax.My advice?Write the individual pro-forma on a separate piece of paper,and adorn your room with them.Seeing them every day,will help cement the format in your minds.
Q.Do I need to remember all the loss section names?
A.In short,no.The examiner has stated no section numbers are required at all for loss relief.Explain what you are doing with the loss relief.
Q.Can I not revise one of the taxes if I don’t like it?
A.No!The introduction of multiple choice questions into the F6 exam means that the exam now contains 21 separate questions and you can expect all of the taxes on the F6 syllabus to be tested at each sitting.The easiest way to pass is to ensure that you have revised all areas of the syllabus prior to sitting your exam.However,please remember that a pass mark is 50%,so even if you do not feel as confident in some areas you may still pass the exam even with poor marks in some syllabus areas.
Q.What are the core areas I need to learn?
A.As this is a compulsory paper the entire syllabus is examinable.However,you will always find common traits at Q1–Q3 in that you will be required to prepare a consolidation,single entity financial statements and some form of performance appraisal including the calculation of ratios/statement of cash flow.
Q.How much work is necessary to pass this paper?
A.You will need to ensure that you have practised enough questions to feel comfortable with both the examiner style and the content of the questions.There are always familiar elements to every question.
Q.How should I present my answers?
A.As neatly as possible!The examiner often complains of difficult to read or illegible answers.Make sure you answer each question on a separate page.Always present your answer first and include all supportive workings behind this(i.e.set up your proforma consolidation and include the 5 standard workings behind).
Q.How do you treat PUP adjustments between a parent and subsidiary?
A.For transactions between a parent and subsidiary,you always reduce the inventory on the SFP.The opposite entry will be to reduce the selling company’s reserves,so if the selling company is the parent,reduce W5,for the subsidiary reduce W2(SFP and post-acquisition column).
Q.How do you treat PUP adjustments between a parent and associate?
A.For transactions between a parent and associate,you always reduce the group reserves on W5.The opposite entry will depend on which company is holding the inventory.If the parent is holding the inventory,and therefore the inventory is included on the group SFP,the inventory on the SFP should be reduced.If the associate is holding the inventory,you should reduce the investment in associate W6.
Q.Sometimes my non-current asset revaluation doesn’t agree to the answer.How do you treat a revalued asset in the financial statements?
A.When revaluations are examined(normally at question 2)a common mistake is made by candidates.This mistake is in the incorrect identification of the date the revaluation took place.If the revaluation takes place at the start of the year you must revalue the asset immediately and depreciate the revalued amount over the remaining useful economic life.If the revaluation takes place at the end of the year then a full years depreciation should be charged based on the assets depreciation policy and then the revaluation should be performed at the year end.
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