We have six pages of guidance and tips for the December sitting in our latest issue of PQ magazine.
Check out pages 27 to 32, which you can find at: https://issuu.com/pqpublishing/docs/001_pq_dec24_combined.
Here’s a quick summary of what our experts said about three of the papers – FR, PM and TX…
Top tips for those sitting ACCA’s FR: Expect a few questions on non-core areas (e.g. sustainability following the issue of IFRS S1) in section A. Don’t leave any questions unanswered in this section either – there is no harm in guessing if you are unsure of the correct answer. There is no negative marking. For section C, ACCA has previously clarified that a consolidated financial statements preparation question could include up to two subsidiaries and one associate, which allows additional scope for examining the disposal of a subsidiary (including as a discontinued operation). Be prepared for such a question. The examiner says candidates continue to find the interpretations question challenging. In both single entity and group interpretation questions, candidates must avoid making generic statements about the movement in ratios and instead focus on using the information in the question.
Top tips for those sitting ACCA’s PM exam: Never be tempted to spend more than 5 minutes on any OTQ question in section A. Good time management is essential too, as it is easy to get caught up with a difficult calculation. Remember, ultimately these questions are only worth 2 marks each! When it comes to section C watch out for budgetary systems, planning and operational variances, mix and yield variances ,and evaluation of the company performance. You must also learn standardised layouts for calculations such as variances, learning curves and limiting factors. This will save you time in the exam and also mean that you are less likely to make mistakes. And, don’t neglect the written elements of this paper – discussion makes up 60% of the marks! Always fully explain your ideas.
Top tips for those sitting ACCA’s TX (UK): In section A there will be a wide range of topics tested as there are 15 OTQs. Tutors expect at least a couple of these OTQs to be devoted to the administration of income tax and corporation tax. For section C’s two 15 mark questions you need to present your answers logically, so the marker can follow your thought process! At least 50% of your revision time should be spent practicing section C answers. You must actually attempt the narrative parts of the requirement. Aim for as many sentences as there are marks, with each sentence containing something technical. Keep your paragraphs to no more than three sentences.
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