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I need help with tackling F8!!!!

+3 Votes
I need help with tackling F8!!!!

I have F8 Exam in June and I Haven't started studying. It's just so boring and I don't know what angle to attempt this. HELP!!

May 1st 2014 AN ACCA USER 340 Points

11 Replies

+6 Votes

For F8 Audit And Assurance

  1. Think critical ,Sceptical while answering question
  2. You said that you don't have much time , so to tackle it see the F8 syllabus and start drawing illustration and short notes to remember the course, and try to relate the area which are interelated.

breakdown the course into :

1.Audit framework and regulation
2.Internal audit
3.Planning and risk assessment
4.Internal control
5.Audit evidence
6.Review
7.Reporting

and make the short notes and bullets and try to remember, and in exam try to write more from these short notes and elaborate your answer.
F8 course in nothing more than these 7 Areas.

If you take tension it will not work, start from today , make struggle you will pass the exam.

Best of luck for your exam.

May 1st 2014 AN ACCA USER 930 Points
+1 Vote

First of all you have to read and try to memorise important topics in F8....then try to solve past papers question as many as you can.....then if in past papers some topic belong to particular topic then just recall your memories in your mind first and then write the answer...it's help a lot. thanks

May 1st 2014 AN ACCA USER 550 Points
+1 Vote
Thanks Sufyan
May 1st 2014 AN ACCA USER 340 Points
+1 Vote
Plan F7 accordingly

1.framework theory
2.Accounting concepts and policies
3.Standards
4.Consolidation
5.ratios

Tax , leases and cashflow standards are very important. Read all technical articles , because technical article helps in cover the topic in less time and also enlist advance techniques. Remember Passing ACCA exam is the game of exam techniques, because in limited time , you have to solve the maximum portion of the paper.



F7 is nothing more than 5 points listed above.

best of luck for exams
May 1st 2014 AN ACCA USER 930 Points
+1 Vote
2. Accounting concepts and policies

Is the definitions of accounting principles ,materilaity , assets liabilites etc and also consists of formats and performa of all financial statements

3. Standards
ARE the working of the individual items which are present in that financial statements, you can called it procedures or calculations.
May 2nd 2014 AN ACCA USER 930 Points
+1 Vote

So many great answers here, I would like to add some tips too

Being generic in f8 exam is the examiners biggest complaint. Write to the point but demonstrate knowledge and understanding. How to do that? It's simple, like for risk topic.

Case: the customers are struggling to pay and some informed chances of bankruptcy.

Answer: the customers are struggling to compete, there's a risk that the bad debts are not recognised and/or an allowance for bad debts is not yet created. This will will result in the expenses being understated, profit being overstated, and the receivables overstated.

Tell specifically what accounts will be affected by this risk, and not be general in your comments. Be sure to relate everything you write, to the case.

How the auditor will mitigate this risk? he will check(avoid using this word 'check')
Instead write that he will review the correspondence of the customers with management to ensure information about bankruptcy is correct
He will enquire the management for the bad debt allowances if they are not created.

Write in columnar form with appropriate headings, you have to strive to show the examiner that you didn't merely rote learn the subject, you do know the bits and bobs of the matter discussed. Best of luck

May 2nd 2014 AN ACCA USER 810 Points
0 Votes
*** thanks so much. Very helpful. Think i just need to take a deep breath and start tackling one section at a time. Which sections should I invest more of my time on?
May 1st 2014 AN ACCA USER 340 Points
0 Votes
Every section is important , try to cover course before 22 may .
After this read technical articles and try to solve pastpapers.
May 1st 2014 AN ACCA USER 930 Points
0 Votes
Okay I'd try to. I hope i have enough time though because am doing F7 too an their exams are back to back
May 1st 2014 AN ACCA USER 340 Points
0 Votes
Wow. This is a very helpful break down. wish i could like your comment twice. lolz. I know this is a silly question but can you explain the difference in # 2 & 3 please.
May 1st 2014 AN ACCA USER 340 Points
0 Votes
thank you for your explanation.  I revised study kit but im struggling while answering past papers..
May 4th 2014 AN ACCA USER 150 Points
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