Hi Douglas,I sat for f8 a few days ago and I found that paper interesting. I have come to realise that we must study ACCA wisely especially during the final revision. First of all, check the questions of the previous paper , the ACCA exam setting team are unlikely (at 80%) to bring them back again at the next sitting (I also verified it with the other papers that I sat which proved my statement to be true). What i did secondly was to practice questions from 2005 to 2011 from the exam kit, meaning that I didn't look at the 2012 ,2013 and june 2014 f8 questions. Thirdly, I practiced all these questions twice (9 to 10 questions per day). I also read the MCQs several times. This is the way I approach the ACCA papers. There are going to be exam tips from ACCA LSBF Kaplan Becker and Bpp a few weeks before the exams'date which will be available on Opentuition.com. One rule about ACCA never neglect any topics as there are all relevant especially for the MCQs.
With the ACCA papers, selective study is not at all advisable. You should aim to cover all topics. However, to be efficient with your studies, the best approach would be to practice past papers. Practice, Practice, Practice. F8 is a theoretical paper, no calculations, so it will be worthwhile looking at the answers to see what points you need to include in your answers to score.
Also, reading examiner's comments will give you an idea on what to look out for and common errors.
Hope this helps.
Try to focus on getting full syllabus coverage as you must understand the whole picture. Next look out for examiner comments and reports - this will tell you areas at which students have been lacking knowledge in various sittings so the examiner might be inclined to test those areas. Practice as many questions as you can and then when you start revising focus on areas you consider yourself to be weak. Examiner articles are extremely important as I have seen almost 10 marks available for areas that examiner discusses in those articles in almost every paper I sat.
Do look at the last session exam as those things sometimes don't get tested in the very next session. Don't rely on guesses - because they are just guesses. If you want to ensure a definite pass do cover whole syllabus as this will help you solve or at least understand all of the exam rather than being totally blank on certain questions. You never know what sort of questions might come on the topic you have focused so much - what if you're unable to do those as well.
Best of Luck.