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ACCA P7 Exam Tips March 2016

来源：高顿网校 2016-02-14

ACCA P7 Exam Tips March 2016:

The format of question paper consists of 2 compulsory questions in Part A and 3 out of which 2 have to be solved in Part B.

1st tip is about strategy. It is that you should start with optional questions or with which you feel confident as this will help you take a good start that will boost your confidence. Next you should move towards compulsory questions and then came back to optional question.

2nd exam tip is Always note carefully the verb used by examiner in the question requirements and the marks allocated. For example if question asks you to identify 6 points and awards 6 marks than you only need six bullet points with minimum details. On the other hand if it asks you to explain and award 6 marks than you need 3 separate bullet points but with in-depth details.

3rd exam tip relates to style and presentation. Always remember that this paper is not only examining your technical knowledge but also your written communication skills. Part of being a good is Accountant or Auditor is being a Good communicator.

Always try to use good business English and structure answers by using headings and subheadings and a align with a ruler and leave some space. Do not use bullet points as examiner have clearly stated that answers in this format is not suitable for P7 students.

Following are the Exam Areas or Topics that have been tested in the past

– Audit risk/risk of material misstatement.

– Matters and evidence (accounting issues and audit work on those issues).

– Audit report scenarios/implications.

– Discussion of benefits of new style audit report.

– Assurance on prospective financial Info.

– If sitting INT stream, audit of public sector performance information.

– Threats to independence.

– Advertising.

– Reliance on work of internal audit.

– And know your ISAs, especially more interesting ones such as 250, 402, 540, 550, 560, 600, 720.

– If sitting UK Stream, insolvency.

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