FTC: Dec 2007 Exam Tips (F4, F5, F6, F7, F8, F9)

F4

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F4 Corporate and Business Law.

• English Legal system – Interpretation of statutes and Human Rights
• Contract – Formation and remedies.
• Tort – Negligence
• Employment – Dismissal
• Partnership – authority of partners
• Company Law
  - Doctrine and veil of incorporation,
  - Memo and articles
  - Capital Maintenance
  - Directors
• Corporate Governance
• Fraudulent Behaviour

F5

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F5 Performance Management.

• ABC
• Variance analysis, including mix and yield and interpretation
• Learning curves
• Performance measurement, including NFIs, the balanced scorecard and Fitzgerald et al
• Decision making

F6

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F6 Taxation.

• Income Tax, Income from employment, Income from self, the computation of taxable income and income tax liability, the self assessment system
• Corporation tax, Profits chargeable to corporation tax [in particular, the allowable expenditure in calculating the tax adjusted trading profit, capital allowances, property business profits, and relief for trading losses.
• Value Added Tax, the circumstances of registration, the computation of VAT, the annual accounting scheme.
• Capital Gains Tax, Computation of capital gains, computation of the amount of allowable expenditure for a part disposal, computation of a chargeable gain on disposal of a chattel, computation of exemption when PPR is disposed, Share identification rules – Individuals, Computation of capital gains tax payable by Individuals, Exemptions and reliefs

F7

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F7 Financial Reporting.

• CBS or, slightly more likely, CPLA
• Published Accounts with mixed standards
• Interpretations or CFS, with latter more likely, maybe with bits of Interpretation
• Standards with concepts, such as Leasing, DT, Construction contracts, Impairment, Depreciation with
• Revaluation, etc
• Standards with concepts (other standards, standard setting, human assets, conceptual framework, etc)

F8

Following are the topics that are Expected to appear in F8 Audit and assurance for December 2007 attempt.

• Ethics – objectivity, conflicts of interest
• Planning – identifying and explaining/addressing risks in a scenario
• Internal controls – weaknesses and recommendations
• Audit evidence – substantive tests, sales and debtors
• Completion – overall review
• Internal audit – role, reliance by external auditors

F9

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F9 Financial Management.

• Investment appraisal – especially NPV with tax and inflation.  Additionally make sure you know the advantages and disadvantages of each appraisal method.
• Working capital management –  especially cash operating cycle and associated calculations.
• Finance – especially financial and operating gearing and financial and business risk.