ACCA F7复习必备

1、整理ppt1ACCA Train-the-Trainers Conference 2012 2012, China F7 Financial Reporting 整理ppt21. Introduction 2. Syllabus3. Pass Rates4. Weakness of students5. How to Improve Candidates Performance6. Important TopicsCONTENTS整理ppt3Introduction整理ppt4Introduction to the PaperAim of PaperTo develop knowledge a

2、nd skills in :vunderstanding and applying accounting standards vtheoretical framework in the preparation of financial statements of entities, including groupsvhow to analyse and interpret those financial statements 整理ppt5Introduction to the PaperMAIN CAPABILITIES On successful completion of this pap

3、er candidates A Discuss and apply a conceptual framework for financial reportingB Discuss a regulatory framework for financial reportingC Prepare and present financial statements which conform with International accounting standardsD Account for business combinations in accordance with International

4、 accounting standards E Analyse and interpret financial statements. 整理ppt6Links to other papersIntroduction to the Paper整理ppt7Syllabus整理ppt8Syllabus整理ppt9SyllabusDetailed SyllabusA conceptual framework for financial reporting The need for conceptual frameworkUnderstandability, relevance, reliability

5、 and comparabilityRecognition and measurement The legal versus the commercial view Alternative models and practicesThe concept of faithful representation 整理ppt10SyllabusB. A regulatory framework for financial reporting Reasons for the existence of a regulatory frameworkThe standard setting processSp

6、ecialised, not-for-profit, and public sector entities Detailed Syllabus整理ppt11SyllabusC. Financial statements Statements of cash flowsTangible non-current assetsIntangible assetsInventory Financial assets & financial liabilitiesLeases Provisions, contingent liabilities and contingent assets Impa

7、irment of assets Taxation Regulatory requirements relating to the preparation of financial statementsReporting financial performanceDetailed Syllabus整理ppt12SyllabusD. Business combinations The concept and principles of a group The concept of consolidated financial statementsPreparation of consolidat

8、ed financial statements including an associate Detailed Syllabus整理ppt13SyllabusDetailed SyllabusE Analysing and interpreting financial statements Limitations of financial statementsCalculation and interpretation of accounting ratios and trends to address users and stakeholders needs Limitations of i

9、nterpretation techniquesSpecialised, not-for-profit, and public sector entities整理ppt14SyllabusExam formatAPPROACH TO EXAMINING THE SYLLABUS assessed by a three-hour paper-contains both computational and discursive elements.Question 1 v25 mark question vpreparation of group financial statements and/o

10、r extracts thereof, and vmay include a small discussion element. Computations will be designed to test the understanding of the principlesQuestion 2 v25 marksvreporting of non group financial statements. vInformation from the trial balance or restating draft financial statements整理ppt15SyllabusExam f

11、ormat (continued)Question 3v25 marks van appraisal of entitys performance vmay involve statement of cash flowsQuestion 4 and 5 vwill cover the remainder of the syllabus v15 and 10 marks respectively 整理ppt16Pass Rates整理ppt17Pass ratesDec 2010June 2011Dec 2011World Pass RateSunway-TESPass RateWorld Pa

12、ss RateSunway-TESPass RateWorld Pass RateSunway-TESPass Rate47%89%38%86%56%87%整理ppt18Weaknesses of Students整理ppt19Question One WEAKNESS:Technique is good, but not sure candidates understand why the standard working (should) give the correct answerMany INT candidates do not apply full goodwill method

13、 correctlyPost-acquisition change of NCI not well understood and often completely omitted in income statement questionsOther problem areas:- contingent and deferred consideration- confusion between pre and post-acquisition adjustments-calculation of group retained earnings often poorWritten sections

14、 often omitted or totally misunderstoodWeakness of students整理ppt20Question 2WEAKNESS: Many recently examined adjustments not done well:vdividend calculations wrongvpresentation of dividends :added the dividends to the administrative expenses vdeducted the dividends in the income statement rather tha

15、n in Statement of changes in equity.vdid not capitalise the future decontamination (environmental) costs.vfinance costs: many did not use the effective interest rateerror with deferred tax of charging the closing provision to the income statement rather than the movement in the provision. -revenue r

16、ecognition issues: deferred revenue relating to ongoing servicing, agency sales.- even simple deferred tax is poorly understood- much confusion over construction contracts- revaluations of non-current assets is examined in virtuallyevery paper, but it is still answered poorly:wrongly timed, not depr

17、eciating on remaining life, incorrect calculation of the gain整理ppt21Question 3vA good answer should look to see beyond the reported figures at what the underlying performance would have been. vLack of understanding of the definitions and meaning of some ratios, particularly return on capital employe

18、d and gearing (for example, using just the share capital as equity is not acceptable). vsaying a ratio had gone up or down amounted to interpretation it does not. vanswers that did not refer the events in scenario at all. vproduced a statement of cash flows as their answer to this question. This was

19、 a pointless exercise; it is not what was asked and gained no marks (even if it was correct). vQuestion would target certain cash flow classifications and specific ratios to prevent mechanical churn.vFull cash flow statements are generally well done, but the focused extracts less so. 整理ppt22Question

20、 4 and 5v practice of a significant number of candidates not attempting all questions, particularly questions 4 or 5 (and sometimes both).vSuggestion by the assistant accountant not addressed. vConfusion between the standards.vInability to apply definitions from the Framework and Standards整理ppt23 Qu

21、estion 4 and 5vInability to apply definitions from the Framework and Standards,vNot answering the the question asked. vNot able to link the questions 整理ppt24How to Improve Students Performance整理ppt25How to improve the students performancevDevelop an ability to apply accounting Standards to a specifi

22、c example or scenario.vBe prepared to criticise and correct accounting treatments suggested by management. It is unlikely that simply agreeing with them will earn many marks.vFocus on the questions requirementvPlanning and presentation of answers:-Sections of questions should be answered together (n

23、ot scattered through answer booklet)- referenced workings (although workings can be taken to excess which is time wasting)- handwriting must be legible; language must be intelligible整理ppt26How to improve the students performancevTry to emphasize an understanding of issues rather than rote learningvAlthough useful, cannot rely on mechanical answer techniquesvExam technique is useful, but not a substitute for knowledgevNot eff