F6 MCQs * Due dates for the payment of income tax (including payments on account). * Due dates for the payment of corporation tax (including instalments for large companies). * Filing dates for the income tax and corporation tax returns. * Penalties and interest for late payments and returns. * VAT registration rules. * Inheritance tax exemptions. * Statutory residence tests for individuals. * Identification of groups of companies for corporation tax loss reliefs and gains. * Trading loss reliefs for both companies and sole traders. Section B * Employment benefits. * Property income. * Relief for pension contributions. * Adjustments to profit to arrive at trading income for both companies and sole traders. * Capital allowance computations. F7 * Q1 & Q2: One likely to be an interpretation or statement of cashflows, the other may be a consolidation question if Q3 is not a consolidation. * Other possibilities: Conceptual framework, intangible/tangible assets and impairment, provisions and contingencies, revenue and grants, financial instruments discontinued operations/assets held for sale or earnings per share. * Q3: could be a single entity or a consolidation (statement of profit ort loss and other comprehensive income and/or statement of financial position). * Statement of changes in equity, statement of cash flow extract, earnings per share calculation or linked written topic. * Consolidation question with adjustments, eg fair values, deferred/contingent consideration, PUP on inventories/PPE, intragroup trading and balances, goods/cash in transit. F8 * Ethical threats and safeguards. * Corporate governance and internal audit. * Audit planning. * Materiality. * Audit procedures (especially substantive procedures). * Audit finalisation and audit reports. * Audit risk. * Internal control and audit procedures (both substantive procedures and tests of controls). F9 MCQs * Macroeconomic goals and policies (fiscal v monetary). * Investor ratios (eg total shareholder return, dividend yield etc). * Calculations of forward and forecast exchange rates. * Basic investment appraisal calculations (payback, ROCE etc). * Financing for SMEs (venture capital, crowdfunding, business angels etc). Section B * Calculations on improvements to receivables management (eg early settlement discounts and factoring). * Weighted average cost of capital calculations (including its component parts). * Ratio analysis to support financing decisions. * NPV calculations (possibly correcting an incorrect NPV given by the examiner which includes incorrect tax and inflation calculations). P1 * Corporate social responsibility strategy – check out recently published article. * The use of stakeholder. * Ethical and other CSR theories – apply them to the scenarios. * Use of risk and governance – board of directors, remuneration and reporting. P2 Section A * Preparation statement of financial position and/or a group statement of profit of loss and other comprehensive income or statement of cash flows – including a foreign subsidiary, discounted activities, disposals and/or acquisitions. * Linked accounting adjustment and social/ethical/moral aspects of corporate reporting. Section B * Q2 &Q3: Deferred tax, foreign currency transactions, financial instruments, pensions, share-based payment, non-current assets (recognition and/or impairment of tangible and intangible assets), borrowing costs, the effect of accounting treatments on earnings per share to ratios. * Other question will test a range of standards such as accounting policies and the framework, leases, grants, IFRS for SMEs, reorganisations, provisions, events after the reporting period and related parties. * Q4: Revenue recognition, revision of the conceptual framework, regulatory issues over adoption and consistent application of IFRSs, implementation issues, application of the definition of control and significant influence (equity accounting) , improvements in performance measurement, classification in profit and loss vs OCI, integrated reporting. P3 * Value chain. * Critical success factors and KPIs. * Role of the corporate parent, including BCG matric/Ashridge. * Managing strategic change, including force field analysis. P4 * Q1: Expect core subjects such as project appraisal (domestic or overseas), business valuations (cost of capital calculations), and risk management (hedging). * Q2-4: Risk management (currency or interest rate), business re-organisation, real options. P5 * Q1: Performance management frameworks (building blocks model or the Balanced Scorecard). Also need to master transfer pricing, ratios, analysis of quality related costs, ABC. * Q2-4: Common tested areas include quality management, information reporting (CSFs and KPIs), the application of strategic models (such as PEST, Porter’s 5 forces, the Value Chain), HR frameworks (reward & appraisal systems), risk management and environmental management accounting. P6 * Groups of companies involving overseas aspects. * Unincorporated business particularly loss relief or involving a partnership. * Capital gains tax versus inheritance tax. * Overseas aspects particularly the new rules on residence. * Personal service company. * Company purchase of own shares. * Enterprise investment schemes/venture capital trusts. * Change in accounting date. * Takeover. * VAT partial exemption. * Transfer of trade versus sale of subsidiary. * Disincorporation relief. * Pension contributions. * Patent box, research and development expenditure. P7 Section A * Test planning. * Risk assessment. * Evidence gathering and practice management. * Non-audit engagement, such as prospective financial information (PFI) or due diligence. * Audit completion. * Consolidated groups. Section B * Audit evidence and financial reporting issues. * Practice management, including ethics. * Quality control and reporting, including completion and communication. 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