ACCA AAA Advanced Aduit and Assurance

HKCA All for you to PASS!

Hot Topics for AAA - SEP 2019 Examination

What Materials to Focus Obviously time may be running out to study everything from ground zero. Below are the suggested materials you may wish to focus on:

Mindmaps and Key Notes. This helps you check out the key areas and connection between topics.

Past Papers. You are encouraged to focus on the techniques how to spot out relevant accounting and auditing issues set out in the cases and how they are presented in the answer.

Hot topics I try my best to make a professional guess of the expected key topics for the coming exam as set out below. This list is NOT intended for QUESTION SPOTTING. It is produced based on my lecturing experience and past paper analysis. Topics in this list should only be used as a guide for special attention but they are NOT THE ONLY TOPICS YOU SHOULD STUDY. My advice is not to do any question spotting but to study the whole syllabus well.

Ethics

Acceptance

Audit planning

Audit risk

Financial Reporting Standards

Audit Procedures

Professional Skepticism (included fraud and non-compliance)

Communication with Those Charged With Governance

Going Concern

Group Audit

Auditor’s Report

Review

Basic but Useful Exam Skills

Professional marks. You may be able to gain extra marks from this. Remember the format of brief note and simple heading.

Manage your time (1 mark = 1.5 minutes). The first few marks on a question are always easy but last few are always hard to earn. Remember – you don’t have to score 100% to pass.

Read the case information and key words carefully. Ask yourself what are the accounting/auditing issues.

State the relevant IFRS/IAS and ISA (If you can).

Write simple and clear English. Contact us (3107 0088) in case you need final help. Good luck!

Tony NG AAA Lecturer

"All for You to . . . Pass” HKCA Learning Media Limited

ACCA APM Advanced Performance Management

HKCA All for you to PASS!

P5 APM - Hot Topics (Sept 2019 exam) What materials to focus now: During the last two weeks before the real exam, you are advised to review the key topics as discussed during the revision course. Use the mind maps together with key notes and formula sheets given for core subject areas, and practice again the typical exam questions as reviewed during class.

What are the hot topics: Review the past paper analysis (PPA) included in revision Q&A set and make a professional guess of expected topics for coming exam. A quick review of what has been examined before is as follows:

(A) Strategic, planning & control: Benchmarking; BPR; Incremental/Rolling budgeting and ZBB; planning & operational variance; PESTEL, Porter’s 5 forces and stakeholders’ analysis. EMA & LCC; SCM re cost & quality; ABC/ABM and TQM/QC; hybrid accountant.

(B) Risk & uncertainty: risk management techniques; expected value, uncertainty and sensitivity analysis.

(C) Effective PMIS: Evaluate report; Lean PMS; human behavior affecting design of PMS; new info systems and information requirements, new items including IR, Numerical Data, Big Data, Data Analytics, Knowledge Management, CRM and Cloud Computing.

(D) Strategic performance measurement & management: SWOT & BCG/VCA/7S; performance gap; CSF, strategy & KPI; NFPI – qualitative & quantitative; Divisional performance (ROI/RI/EVA) & transfer pricing; HRM; NFPO & league table.

(E) Alternative views & corporate failure: Complex structure & corporate failure (A-score & Z-score); BSC, Pyramid and Building Blocks.

Practice again the revision questions chosen, and typical tailor-made mock exam Q&A set in the test, mock & final mock exams. Note: this is not questions spotting, as you probably need to cover a wide range of possible subject areas to pass the exam. A quick review of ACCA Specimen Paper, and mock exams set is given below:

Evaluate EVA; KPI & CSFs; improvement projects re JIT, KC & QC; networking technology & unified database.

Corporate failure models; lifecycle impact on Z-score; prevention of failure.

Porter’s 5 forces model; market definition & market share; risk appetite of venture capitalists & impact on performance management.

* * * * * *

Evaluation of KPIs and introduction of BSC; problems in using NFPIs; Hopwood’s styles; and setting targets & used in appraisal systems.

Cost classifications; cost drivers and analysis; ABM & EMA.

NFPIs for NFPO; VFM; management style for NFPO.

* * * * * * Assess metrics with SWOT analysis for improvements; qualitative & quantitative analysis; expected

value; change on values & choice of metrics; value chain & performance management.

Uses & implementation of ABC; ABM & performance management.

Assess use of EVA; ROI & RI; divisional control & BCG matrix.

* * * * * *

Evaluate dashboard; target cost gap & TQM; COQ; data analytics & role of management accountant.

Budgeting system including rolling budget and incremental budget.

CSF & improvements; and transfer pricing policy.

* * * * * *

Don’t forget the common but useful exam skills: Note the change of paper structure to all compulsory questions and remember to manage your time; reading the question requirements carefully and answer what is exactly asked; making good use of facts given; considering what, why and how of management issues; review impact on above key subject areas; being business advisor and emphasis on giving summarized analysis and value added advice to subject company in question; writing simple and clear English; get the easy marks on professional presentation; and believe in your hard work!

Contact me (WhatsApp: 98007750 or WeChat: mikesir98007750) in case you need final help. Finally, good luck from HKCA team!

Mike Li Principal, HKCA 20 Aug 2019

ACCA AFM Advanced Financial Management

HKCA All for you to PASS!

AFM Hot Topics - Sep 2019 Examination

What materials to focus now: During the last few weeks before the exam, you are advised to review the key topics as discussed, practice the Mocks papers, and review the mindmaps & flashcards to refresh your memory. ✏ Have a good exercise on past exam questions, in particular basic computations, our progress

test as well as the mock exam papers. ✏ Hot topics as per progress test and mock exam: Advanced Investment appraisal - The Sources of Finance (e.g. Inflation and/or exchange

rate on Cash flows, the simple Macaulay duration, and modified duration methods. The Financial Derivatives Hedge against – Foreign Exchange /Interest Rate Risk –

Forwards, Futures (margin and mark to market), Call/Put Options, Money Market, Currency Swap, Greeks (e.g. Theta)

Acquisitions and mergers – Discounted Cash Flows – Free Cash Flow to Firm (cash

only, cash and share mixed, cash and bond mixed etc)/ Reverse Takeover Corporate reconstruction and reorganization – pre/post asset beta, unbundling. Role of senior financial adviser in the multinational organisation – Dividend policy and

Dividend discount model, the impact of behavioural finance on financial strategies / securities prices

Finally, review the concise key maps, key notes, and practice the revision questions on both discussions and essential computations. Recommended list for Technical Articles:

Technical Articles 1 - Exchange traded foreign exchange derivatives

Technical Articles 2 –Patterns of behaviour

Technical Articles 3 –Risk management

Technical Articles 4 –Reverse takeovers

Don’t forget the common but useful exam skills: Remember to manage your time (1 mark = 1.8 minutes); read the questions carefully; answer all the questions and answer what is exactly asked; write simple and clear English; and stay calm.

Contact us ( Lecturer@hkcaexam.com ) in case you need final help. Good Luck!

VICTOR LEUNG, FCCA, CFA, FRM

AFM Lecturer

HKCA Learning Media Limited

NOTE This list is NOT intended for QUESTION SPOTTING. It is produced according to my lecturing experience and past year question analysis. Topics in this list should only be used as a guide for special attention but NOT THE ONLY TOPICS TO BE STUDIED!

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HKCA All for you to … PASS!

ACCA SBR – Strategic Business Reporting

Hot Topics for SBR - Sep 2019 Examination

What Materials to Focus

It is not wise for you to memories every single word in the notes, while you may focus on:

Mindmaps. This helps you check out the key areas and connection between topics.

List of Keywords. Hopefully you have developed this list throughout your revision as discussed

in class. The key words you accumulated should enable you to answer knowledge-type

questions and explain your arguments for application-type questions.

Utilise charts and tables. Using flow charts and summary tables to understand and

memorise the key concepts, relationship and the logic to help yourself having good structured

answers and reminder for key points and arguments.

Past Papers. You are encouraged to focus on the techniques how to anticipate the possible

issues in the cases by analysing the questions.

Hot topics

The list of the topics below gives you a guideline and reference for your focus in your exam

preparation. It is based on the analysis to the past exam papers and my experience to provide you

a certain level of assistance in narrowing down the scope for you to come cross. However, it is

always to play safe if you can have thorough understanding of the knowledge covered in the lectures

and be able to apply them in analysing the case scenarios with reasonable depth of argument and

analysis.

IAS 8 Accounting Polices, Changes in Accounting Estimates and Errors

IAS 10 Events After Balance Sheet Date

IAS 16 Intangible Assets

IAS 20 Accounting for Government Grants

IAS 28 Investment in Associates and Joint Ventures

IAS 32 Financial Instruments: Presentation

IAS 36 Impairment of Assets

IAS 38 Intangible Assets

IAS 40 Investment Property

IFRS 2 Share-based Payments

IFRS 3 Business Combinations

IFRS 9 Financial Instruments

IFRS 10 Consolidated Financial Statements

IFRS 11 Joint Arrangements

IFRS 16 Leases

ED/2016/1 Definition of a Business and Accounting for Previously Held Interests

ED/2018/1 Financial Instruments with Characteristics of Equity

DP/2018/1 Accounting Policy Changes

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HKCA All for you to … PASS!

ACCA SBR – Strategic Business Reporting

Basic but Useful Exam Skills: Manage your time (1 mark is about 1.8 minutes). The first few marks on a question are always

easy but last few are always hard to earn. Remember – you don’t have to score 100% to pass.

Read the questions carefully. Always brainstorm the areas within the specific topic asked in the question so that you can spot out the relevant case facts. Remember to answer full question in your answer.

Structure your answers. Present your answers in a well structured format, underline the key points (key words), with separate paragraphs for your explanations, arguments, analysis and conclusions to demonstrate your understanding and application. Remember that the world is not always Black and White, under many circumstances, there are no absolute right or wrong.

Link to the case scenario. Don’t forget to apply in the case scenario with the application of the applicable knowledge. Analysis the case given is necessary to earn marks.

Link the knowledge cross sections. Getting into professional level, you are more tested for the application of the knowledge your learned as a tool to analyse different case scenarios. You shall learn to utilise the knowledge, models, principles, theories from the papers you previously studied and standing at the position of a professional accountant to think and give your view.

Write simple and clear English. Always use “Identification + Evidence + Implication” approach to explain your arguments and avoid writing excessive empty sentences.

Do not forget presentation and relevant format (e.g. “I”, “we”) to earn 4 professional marks. Good understanding is a primary and solid foundation for your professional stage study, that’ll help to build up a knowledge map and guide you on application. Work hard and good luck!

KW CHOW

SBR Lecturer

"All for You to . . . Pass”

HKCA Learning Media Limited

Aug 2019

All for You to Pass! www.hkcaexam.com

ACCA – SBL Strategic Business Leader

ACCA SBL - Key Topics for 2019 Sept Exam What materials to focus now: During the last two weeks before the real exam, you are advised to review the key topics and various questions as discussed during the revision course. Use the mind maps given together with key notes for core subject areas, and practice again the typical specimen and exam questions as reviewed during classes. See Past Paper Analysis given for a quick review of what have been examined recently. Recently examined topics for 2019 Mar: Q1- PEST & business model; risk evaluation and solution; Q2 - Porter’s diamond; strategic & ethical implications; Q3 - Internal control implications; Q4 - NPV & CDBM; Q5 - Integrated thinking and IR. And examined topics for 2019 Jun: Q1 - Board composition & operation; Q2 – Ethical issues re errors/ unreliable evidence; commissioning & review process; Q3 – attractiveness of acquisition target; Q4a PM of digital platform development; Q4b - develop new platform; Q5 – problems in recruiting talented staff. Suggested topics: Check the three specimen papers and insight mock exam paper. Key topics include: Stakeholder Analysis and Agency Theory; HRM & Talent Management, Cultural Changes; Corporate Governance – weaknesses, changes required, role and benefits with NEDs, CEO’s fiduciary duties and Leadership qualities, safeguard measures against Fraud, Internal Control issues and Internal Audit functions; Professional Ethics; Risk Management – heat map for risk identification and diversifying risk; Financial Management – financing issues, use of management accounting information; Strategic Evaluation (Generic strategy/ Strategic clock, Sustainable strategy); Business Process Re-engineering & Organization Structure; Performance evaluation and KPIs; IT – online sales, Big Data Analytics, e-procurement and IR; Project controls/ Slippages.

Don’t forget the useful exam skills: Remember to manage your time – 40 minutes for reading and planning, 20 marks for professional skills and 80 marks for technical knowledge (total 200 minutes). Read the question requirements carefully and answer what is exactly asked; referring to relevant Exhibits given; collating and making good use of facts given; writing simple and clear English; get the important marks on professional skills re Communication, Commercial Acumen, Analysis, Scepticism, and Evaluation. Contact us (WhatsApp: 98007750 or WeChat: mikesir98007750/ Jennifer_Chen) in case you need final help. Good luck from HKCA team!

Mike Li & Jennifer Chen

SBL Lecturers, HKCA "All for You to . . . Pass" 15 Aug 2019