City Colleges, South Great George’s Street, Dublin 2 1850 252740 • acca@citycolleges.ie • www.citycolleges.ie

ACCA 2016

June 13August 8 & 9

5.30pm - 7.30 pm

OPENEVENINGS

SEPTEMBERDECEMBER EXAMS

EXAM JUNE

iNsidETIPS

Live. streamed. Recorded.

CiTy COllEgESYour Clear Advantage

gARRET MulviN (P4)Joins City Colleges

Dear Student,

You can now prepare for your September and December exams at City Colleges. See exam dates and course timetables in this brochure for September and December 2016 exams.

For September we offer the full recordings from the June exam plus LIVE Revision in August. Avail of the recorded classes at a time that suits you and opt for a LIVE Revision Course plus mock in August. Perfect.

Remember, August 1st is September’s Standard exam registration deadline.

For December the Early exam registration deadline is the 15th August. Courses commence at City Colleges from this date also. Because courses at City Colleges are streamed live and recorded you never miss a class or an explanation!

There is great news for P4 Advanced Financial Management students.Garret Mulvin (formerly BPP and FI) has joined City Colleges. Garret is abrilliant and very popular tutor with multiple student prize-winners. Weare delighted that Garret has chosen to join the team at City Colleges.

The team includes former BPP favourites Shaun Browne (F8, P7), Mel Kilkenny (F6, F9 and P6), Martin Corboy (F5, P5) and Kathleen Regan. Kathleen will again offer the P2 weekend programme which, based on her outstanding results, is proving extremely successful.

Remember, Live, Streamed and Recorded. It’s your unfair advantage!

See the website and contact us on 1850 25 27 40 for advice & support.

Best wishes

Owen O’ReillyHead of Professional Accountancy SchoolF1, P1 and P3 lecturer

Welcome

‘Refer a Friend’

to City Collegesand claim €50credit towards

your ACCACourses

We believe in better - You succeed faster

“ Availability of online facility means I don’t miss classes when I travel with work” - Ciaran Maloney

We believe in better - You succeed faster

“ Availability of online facility means I don’t miss classes when I travel with work” - Ciaran Maloney

Why City Colleges?

ACCA Master Classes We have Master Classes on the same nights as Open Evenings… where in just 90 minutes you will get a key insight into P1 and P3.

Master Classes are free but places are limited so register online.

At City Colleges, we believe that the student experience is, in large part, determined by the quality of the tuition provided. For this reason, we have assembled a team of talented and inspiring lecturers who have a wealth of experience. Classroom based lectures are also streamed live, as well as recorded and made available for review online through our unique and convenient learning system.

Sodbaatar Shagdar 78% F6Third in Ireland

Andrew Noonan 78% P1 Second in Ireland

“ If I am unable to attend lectures the online content is excellent. Allows me the flexibility to go back over course material if I am unsure of a particular area” - Enda Holmes

“ Moodle facility helps me to gather all relevant study materials. When I miss a class I can still catch up because all lectures are recorded and saved on Moodle” - Kamila Wawrzyniak Conboy

“I would recommend City Colleges. F4 is the first subject I have taken but have found everyone extremely helpful and accessible.” - Andrea Oman

“ I would recommend City Colleges because of the access to the lectures when you physically cannot attend is absolutely brilliant as you can always logon and do one hour each day to catch up. For me this is essential as I cannot always make the lecture on the specific night.” - Therese Shanahan

“Stephen Fennell 78% P6 Advanced Tax Second in Ireland

�•�Excellent lecturers

•�Progress Ladder system to aid your success.

•���Work Experience Register and support

to help with your PERs

•�ACCA�Approved�BPP�Study�Materials

• City centre location in South Great George’s Street, convenient for bus, LUAS, DART

• Live lectures ALSO streamed online and recorded

•�Free Mock Exams with detailed tutor feedback

•�Subsidised�parking�-�only�€2 per night

•�Study�rooms�and�library�in�our�city�centre�location

•�Affordable�tuition�fees�with�great�offers

• Caring tutors and limited class sizes

Prepare for the September 2016

Exam Sitting

SEPTEMBER ACCA The September exams are a great opportunity for students and we have a range of course options to help you conveniently progress your career. See the exam timetable below. Please note F4, F6 and P6 are not available in September.

There are two key benefits for students. Firstly, it offers you a quick opportunity to repeat a paper. Secondly, it offers students who wish to take a new subject the opportunity to progress their studies.

ACCA Paper Lecturer Live Revision Exam Content

F5 Performance Management Shaun Browne June recordings 7th Sept Full June Main & Revision Course recordings

F7 Financial Reporting Dr Barry Smith June recordings 6th Sept Full June Main & Revision Course recordings

F8 Audit and Assurance Shaun Browne June recordings 5th Sept Full June Main & Revision Course recordings

F9 Financial Management Mel Kilkenny June recordings 9th Sept Full June Main & Revision Course recordings

P1 Governance, Risk and Ethics Owen O’Reilly Aug 4/11/14/18/25 7th Sept Full June Main & Revision Course recordings

P2 Corporate Reporting Kathleen Regan Aug 5/6/26/27 6th Sept Full June Main & Revision Course recordings

P3 Business Analysis Owen O’Reilly Aug 3/10/13/17/24 8th Sept Full June Main & Revision Course recordings

P5 Advanced Performance Management Martin Corboy Aug 4/11/14/18/25 7th Sept Full June Main & Revision Course recordings

P7 Advanced Audit & Assurance Shaun Browne Aug 19/20/21 5th Sept Full June Main & Revision Course recordings

SChEduLE

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FuLL COuRSE - OnLInE OnLy (RECoRDED) - Recordings of the previous Full Course (June 2016 sitting) - Recordings of the online Revision Course (June 2016 sitting)

LIvE REvISIOn COuRSE - Classroom based Revision Course in August - - Also available live online and recorded - Mock with tutor feedback

COMBInEd COuRSE (BoTH 1 & 2 ABoVE) - Recordings of the previous Full Course (June 2016 sitting) - Recordings of the online Revision Course (June 2016 sitting) - Plus Classroom and Streamed Revision Course in August - Mock with tutor feedback

OPTION

OPTION

OPTION

RESIT RESIT

€395

€296

€495 €371

€350

€650

F1-F9 P1/P2/P3/P5/P7

COuRSE OPTIOnS FoR SEPTEMBER 2016 EXAM SITTInG

CLASS TIMES Monday to Thursday Classes 6.30pm–9.45pmFriday Classes 2.00pm–5.00pmSaturday & Sunday Classes 9.30am–5.00pm Please note all timetables may be subject to change

Buy 1 Full COuRSE

GET ALL OTHER Full COuRSES

HAlF PRiCE

SEPTEMBER ACCA

Please note all timetables may be subject to change

ACCA Paper Lecturer Evening Start Additional Classes Revision Exam

F1 Accountant in Business Owen O’Reilly Thursdays 1st Sept 10 Sep, 8 Oct 3/5/10 Nov CBE

F2 Management Accounting Claire Phelan Mondays 5th Sept 17 Sep, 15 Oct 16/19/20/23 Nov CBE

F3 Financial Accounting Claire Phelen Wednesdays 7th Sept 24 Sep, 22 Oct 30 Nov, 3/4/7 Dec CBE

F4 Corporate and Business Law Lawlor & Casey Tuesdays 6th Sept 8/15/22 Nov 9 Dec

F5 Performance Management Martin Corboy Wednesdays 24th Aug 10 Sep, 1 Oct 12/13/16/23 Nov 7 Dec

F6 Taxation Mel Kilkenny Tuesdays 16th Aug 18 Sep, 9 Oct 1/8/15/19/20/22Nov 8 Dec

F7 Financial Reporting Dr Barry Smith Thursdays 1st Sept 24 Sep, 15 Oct 3/5/10/17/24 Nov 6 Dec

F8 Audit and Assurance Shaun Browne 6 Weekend days 4th Sept 4/7 Sep, 2/8/16/22 Oct 25/26/27 Nov 5 Dec

F9 Financial Management Mel Kilkenny Wednesdays 17 Aug 23 Oct 2/6/9/16/23/30 Nov 9 Dec

P1 Governance, Risk and Ethics Owen O’Reilly Tuesdays 16 Aug 24 Sept 1/6/8/15/22 Nov 7 Dec

P2 Corporate Reporting Kathleen Regan* 7 Weekend days 4 Sept 4/10/25 Sep, 2/8/22 Oct 4/5/25/26 Nov 6 Dec

P3 Business Analysis Owen O’Reilly Mondays 22nd Aug 11 / 17 Sep 7/12/13/21 Nov 8 Dec

P4 Advanced Financial Management Garret Mulvin Wednesdays 24th Aug 25th Sept, 1st Oct, 23 Oct 2/16/19/20/23 Nov 9 DEC

P5 Martin Corboy Tuesdays 23rd Aug 24 Sep, 16 Oct 1/6/8/15/22 Nov 7 Dec

P6 Advanced Taxation Mel Kilkenny Mondays 15 Aug 11/ 17 Sep 7/12/13/14/21/28 Nov 8 Dec

P7 Advanced Audit and Assurance Shaun Browne 6 Weekend days 3 Sep 3/18 Sep, 1/9/15/23 Oct 18/19/20 Nov 5 Dec

Advanced Performance Management

DECEMBER ACCA

1

2

3

FuLL COuRSE - Classroom based weekly classes - Also available live online and recorded - Plus Revision Course - Mock with tutor feedback

REvISIOn OnLy COuRSE - Classroom based Revision Course - Also available live online and recorded - Mock with tutor feedback

FuLL COuRSE - OnLInE OnLy - Weekly classes: live online & recorded - Plus online Revision Course - Mock with tutor feedback

OPTIOn

OPTIOn

OPTIOn

RESIT RESIT RESIT

€695

€347

€300

€650

€495

€247

€250

€400

€875 €437

€350

€750

F1-F3 F4-F9 P1-P7

SChEduLE

COuRSE OPTIOnS FoR dEC 2016 EXAM SITTInG

MOCKS: FLEXIBLE oPTIonS

Mocks: 15/22/29 november

note: All timetables may be subject to change

*F8 & P7 with Shaun Browne & P2 with Kathleen Regan are convenient weekend classes that are also streamed live & recorded

F papers 6.30pm–9.30pm P papers 6.30pm–9.45pmFriday Revision 2.00pm–5.30pm Saturday & Sunday 9.30am–5.00pm

CLASS TIMES

Buy 1 Full COuRSE

GET ALL OTHER Full COuRSES

HAlF PRiCE

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About our LeCturersOwen O’Reilly BA MBSHead of Professional Accountancy school Paper specialist: F1, P1 & P3 Owen is a leading lecturer (formerly BPP) with extensive ACCA and CIMA professional accounting exam experience and over 40 student prize-winners.

His focus is on your exam technique and your exam success. He is well known for his exam techniques, student centred approach and entertaining classes which lead to very high pass rates. For example, 88% passed in P1 in December 2015 (vrs 47% overall).

He is the winner of the UCD/NIB Smurfit Business School Masters Scholarship Award and a double CIMA prize-winner.

Garret Mulvin FCAPaper specialist: P4

“ Owen is a great lecturer for P1 and P3. Furthermore he is passionate about part qualified accountants excelling in the ACCA exams. His exam technique is quite brilliant.” - Stephen Ross

“Owen is a very experienced person in the business field and his lecture is very interesting.” - Agnieszka Marcinkowska

“Owen is a fantastic lecturer, knows his stuff inside out and is able to teach it wonderfully.” - Orla Daly

From the very first lecture it was evident to see Garret’s ambition for the success of all his students. Garret’s in depth knowledge of the course material along with the ability to help students understand difficult concepts made the classes very enjoyable and beneficial. I really can’t recommend Garret highly enough. - Tom Kiely

I would definitely recommend Garret Mulvin.. I was able to pass first time achieving a mark of 70%. The main thing I enjoyed was the relaxed environment with the excellent tutoring. I will be definitely signing up for lectures with Garret again. - Greg Rooney

An excellent lecturer, certainly the best I’ve had so far.”

It is evident that Shaun knows this subject inside out, his lectures are interesting and entertaining. He gives great tips on what are the important things to remember and even better than that he thinks of inventive ways of remembering those things.”

- Amanda Miley

“ One of the best ACCA lecturers I have had. Very funny which is important to keep class interesting. This is my final ACCA exam and have found the lecturer’s approach one of the best.”

- Nicola Donnellan

Martin is a very knowledgeable lecturer on P5 and has a great sense of humour. I’d fully recommend attending Martin’s class!”

- Hong Yan P5 “ As a working professional, doing accountancy exams takes a lot of effort & time. I found Martin Corboy to be exactly the instructor I needed, he teaches clearly, takes time to explain but ensures the full syllabus is covered in time for the big day!”

-Karl Deeter, Compliance Manager at Irish Mortgage Brokers and

columnist for the Sun on Sunday and Sunday Business Post

Shaun Browne MAAT FCCAPaper specialist: F5, F8 & P7

Shaun is an immensely popular and brilliant tutor who has a passion for teaching ACCA. He believes in making the class as interesting and as much fun as possible so that students enjoy learning. He includes lots of anecdotes about his work as a trainee and a partner to help students appreciate the practical aspects of auditing. Shaun is a great believer in ‘learn the basics’.

This advice has stood the test of time with many UK, Irish and world-wide prize-winners in Auditing to his name. Shaun is a teaching phenomenon that we fly in from London because he is the best. He has a colossal reputation for student success and enjoyable classes.

Martin Corboy AITI, FCMA, MBA Paper specialist: F5 & P5

Martin Corboy is a graduate of UCD and came first in the world in his final CIMA exams. Martin is an Associate of the Institute of Taxation, a Fellow of the Chartered Institute of Management Accountants, a Member of the Chartered Management Institute and an Academic Fellow of the Association of International Accountants. He has been lecturing to professional accountancy students for the last 16 years and he has a reputation as one of the top ACCA tutors in Ireland.

We are delighted to welcome Martin to City Colleges where he is a tremendous addition to the team.

Weekend Classes

..a quality lecturer and easy to learn from.”

- Jason Phillips

I really can’t recommend Garret highly enough.” -

Garret Mulvin (formerly BPP and First Intuition) is a very popular tutor who specialises in Financial Accounting, and Financial Management. Among his many prize-winners are several first placed students.

He is a fellow of the Institute of Chartered Accountants of Ireland (CAI) and qualified as an accountant with Price waterhouse Coopers in Dublin.

Garret is renowned for his exceptional tuition and exam techniques and is dedicated to getting you your pass in P4 Advanced Financial Management.

Ciarán Lawlor BCL, LLM, BL Paper specialist: F4

Ciarán Lawlor is a practising Barrister and an experienced educator. Ciarán has been a Senior Tutor in UCD, and has lectured in tort law on the Graduate Diploma in Arbitration in UCD. He is an experienced ACCA F4 tutor, who is extremely popular with students for his direct, comprehensive and exam focused teaching style.

“Ciarán is a brilliant lecturer. His enthusiasm for the subject makes his lectures memorable. He is generous with his time outside the timetable giving students the opportunity to approach him with a difficult topic in order to get a better grip on it. Lastly his homework corrections offer useful feedback and encouragement!”

- Alexandra Stokes

Claire Phelan BBS, ACAPaper specialist: F2 & F3Claire is a very popular and experienced ACCA tutor with excellent student results. She specialises in Management Accounting & Financial Accounting. Her lectures combine clear explanation of topics with strong interaction on the student’s part. Claire also brings her experience gained through working in practice in audit of multinationals over many years.Apart from being an excellent tutor Claire has developed a reputation as a caring person and support for students. It is no wonder she is such a popular tutor.

“ Claire takes the time to explain subject matters if students are unclear about it. She takes time, not rushing without leaving unanswered questions. - Bartek Piasek

“ Fantastic lecturer. Professional and friendly. Barry really knows his subject inside out.” - Peter Lee

dr Barry Smith, PhD, FCAPaper specialist: F7

Barry is a very popular and experienced ACCA tutor having taught F3, F7, and P2 modules.His popularity as a lecturer results from being exam focused and from his ability to explain complex accounting topics. In 2010, his ‘Introductory Financial Accounting and Reporting’ textbook was published by McGraw-Hill and has been extremely well received by teachers and students.

Barry is a Chartered Accountant and holds postgraduate degrees from UCD (MEconSc) and University of Birmingham (PhD). He also holds an ACCA Diploma in International Financial Reporting Standards (DipIFR). All F7 students will get free access to the cutting edge Tenjin software (Google it) which is another City Colleges’ innovation for F7.

Kathleen ReganPaper specialist: P2Kathleen is a vastly experienced lecturer in Corporate Reporting and Management. She has delivered P2 lectures since 2003 with BPP. She is a popular and dedicated tutor and offers convenient weekend classes for P2. Kathleen is an Associate of the Corporate Treasurers in Ireland, a Fellow of ACCA and holds a Masters in Corporate Finance and Accounting from University College Cork.

Kathleen was also Managing Director of Professional Accountancy Lecturers and Audit Senior for Moore Stephens (formerly Patrick McNamara and Associates) in Limerick.

Eoghan Casey BA, BL Paper specialist: F4 Eoghan Casey is a Barrister and lecturer in law who has extensive experience preparing students for both the Law Society of Ireland and King’s Inns Entrance Examinations. He holds a First Class Honours Degree in Mathematical Science, and is particularly skilled at teaching students how to excel in professional examinations. He is an extremely popular and experienced ACCA F4 tutor, and delivers this programme at City Colleges in conjunction with Ciarán Lawlor.

Mel Kilkenny BComm, AITIPaper specialist: F6, F9 and P6Mel has lectured taxation subjects for ACCA examinations since 1992. He is highly exam focused in his approach, and is admired for his personable, and practical teaching style. He is the author of the well-regarded Kilkenny Tax Publications textbooks and revision kits for P6 and F6 which are popular with Tax students throughout the country. Mel is also an experienced examiner, having spent a number of years as examiner for the Institute of Chartered Accountants Ireland and the Irish Tax Institute.

Apart from the Tax papers Mel also brings his experience and teaching skill to F9 Financial Management. Always dedicated to getting you your pass!

Barry is an absolutely brilliant lecturer. he has an excellent lecturing approach.” - Viktorija Balandina

Free access to Tenjin software “

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“ very approachable, good lecturer and excellent location.”

- Silvia Prevettoni

“I am doing the course online and Kathleen was extremely quick to respond and very helpful with my query.” - Sharon Collins “Content is very well delivered for P2. Easy to understand. Good study tips.” - Claire Frain

“Classes were informative, fun, and presented in a way that stuck in your head so you could easily remember and relate back to the associated case. I passed first time with very little effort required since Eoghan made it so easy and logical. I would highly recommend Eoghan Casey as a F4 lecturer.” - Trudy Byrne

I find Kathleen excellent for P2. She is clear, concise and covers all the main points.”

- Sinead Graham

”He really engages students throughout the lecture. Even though I am completing the course online I feel just as much a part of the class as those who are physically attending.” - Kirsten Mullins

“Good notes, good exam focus, no BS.” - Tomas Corrigan

Mel is an excellent lecturer with fantastic teaching style.

Weekend Classes

Diploma in Accounting and BusinessThe diploma in Accounting and Business is a great start to your ACCA journey! This internationally recognised ACCA diploma is granted to those who pass the first three papers F1, F2 & F3. no previous academic qualifications are required to study for these qualifications which provide you with a very good grounding in accounting.

diploma in Accounting and Business requires you to pass•��Accountant in Business (F1)•��Management Accounting (F2) •��Financial Accounting (F3)

In addition you will be required to complete a professionalism and ethics module called Foundations in Professionalism. Furthermore you will be required to complete one year’s relevant practical experience in any accounting environment to show you can use your knowledge from the exams in the workplace. Experience can be completed before, at the same time or after taking your exams.

how long will it take to complete?It’s up to you as there is no time limit. You can sit the exams on demand as computer-based exams in our ACCA approved CBE centre here at City Colleges.

Who are my tutors?Your tutors are Claire Phelan (F2, F3) and owen o’Reilly (F1). These are both excellent and caring tutors who will guide you with their extensive exam experience and good humour.

When can I start?You can start this course at any time. Remember all classes are streamed live and recorded for your convenience. So you will never miss a class or an explanation. The recordings also make later starts possible.

Call if you have any questions – or drop in for acoffee at any stage and we will get you started onyour ACCA journey!

The ACCA (Association of Chartered Certified Accountants) is one of the most well-known and highly respected accountancy qualifications in the world. It is ideal for those looking for a career in finance, whether in accountancy practice or business.

The ACCA qualification is relevant to each and every area of accountancy and finance, so you will have the choice of working in many different financial roles and at senior levels within an organisation.

You can study and work wherever you want because ACCA qualifications are recognised and valued around the world.

Employers know and respect the ACCA qualifications and value the skills and contribution ACCA accountants make to their organisation. As an ACCA-qualified accountant you will be in demand all over the world.

To start you first must register as a student with ACCA. Enrolment with City Colleges does not register you or enter you for the exams. There are minimum entry requirements to start the ACCA qualification. You can contact the ACCA on 01 447 5678, email info@accaglobal.com or,www.accaglobal.com.

To qualify you must complete:•��14 exams (nine of which are eligible for

exemption) •��Relevant practical experience - minimum 3

years •��The Professional Ethics module

You may be exempt from some of the exams if you already hold a relevant qualification (e.g. an accountancy degree). To check your exemptions Google ‘Irish ACCA exemptions’ or go to www.accaglobal.com

Good luck on your ACCA journey!

Your ACCA Qualification

Live LeCturesBroadcasted onlineCity Colleges is Ireland’s original provider of ‘Live, Streamed and Recorded’ ACCA tuition.

our live ACCA classes from George’s Street in Dublin are ALSo broadcasted live online throughout the country. This is our fifth year streaming our classes live and our experience in delivering, streaming and recording your classes is a key benefit for you because you will never miss a class or an explanation.

You can even ask questions online during the class! It is the best of all worlds and a great advantage for our students because you can watch at your convenience.

•�Convenient�city�centre���� location in South Great George’s St. Dublin 2 •�Classes�also�conveniently� streamed live around the country •�Ask�questions�from�home •�Classes�also�recorded� •�Never�miss�a�class�or�an��� explanation!

“ The online lectures are great. If I miss a lecture I can do it online the next day so when I’m back in class I’m not behind. It’s a great system.“ - Claire Liddy on Papers F6 Taxation, P1 Governance, Risk & Ethics and P3 Business Analysis

“I live in Galway so the online lectures are vital to enable me to participate in class.” - Lisa Hopkins

“ I find online lectures extremely useful if I am unable to attend class because of work and also as a study aid.”- Carol Byrne

“I have never been to City Colleges as I am from Kerry but chose them because of the online facility. The online facility is great and I am disappointed I didn’t know about it earlier as I could have used them in the past (doing my last 2 exams with them now!). You get all the benefits of college from the comfort of your own home!” - Martina Molineaux

“City Colleges Ireland’s original provider of ‘Live, Streamed and Recorded’ ACCA tuition

Classes also sTREAMEd LiVE online & RECORdEd

Your Convenient Advantage

June 2016 exam tips

JunE 2016 EXAM TIPS

SECTIOn A Several on consolidation and interpretation of financial statements. Expect a few questions on the ‘shorter’ standards (e.g., IAS 41, IFRS 5, IAS 23)

SECTIOn B One is likely to be an interpretation question or statement of cash flows, the other may be a consolidation question if Q3 is not a consolidation question.

Other possibilities include conceptual framework, intangible/tangible assets and impairment, provisions and contingencies, financial instruments or earnings per share.

Q3 will be a 30-mark financial statement preparation question - could be for a single entity or a consolidation (statement of profit or loss and other comprehensive income and/or statement of financial position). It may include adjustments that relate to other syllabus areas.

It may also include a short separate part, e.g., requirement to prepare a statement of changes in equity, statement of cash flows extract, earnings per share calculation or narrative explanation.

A consolidation question would include one subsidiary and sometimes an associate. Expect the following adjustments to be required:

• Fair value adjustment; Investment by the parent in the subsidiary to be recognised;

F7 Goodwill; Depreciation of fair value adjustment; Intragroup; Goodwill impairment;

• Unrealised group profit; Non-controlling interest; Deferred consideration;

• Equity accounting for the associate; Fair value adjustment to the carrying amount of a ‘passive’ financial asset.

A single entity question could be preparation from a trial balance or restatement of given financial statements with the usual adjustments:

• Depreciation, revaluation; Current/deferred tax (including deferred tax on revaluations);

• Leases, financial instruments (change in fair value or amortised cost); Share issues;

• Government grant; Inventory valuation; Revenue from contracts with customers.

Good luck with your studies! - Dr. Barry Smith F7 specialist

JunE 2016 EXAM TIPS

SECTIOn A Anything and everything could come up!

SECTIOn B Examiner has her favourite key areas and the following is a guide however don’t question spot!! Section B:

• Audit Risk: Identifying audit risks (IR, CR, DR) from the scenario given and the auditors response to these risks

• Internal Control: deficiencies, consequences and recommendations e.g. in a sales or payroll system

• Balance Sheet Auditing: Substantive audit procedures e.g. Inventory or accruals

• Corporate Governance and Ethics: Best practice and ethical threats/safeguards

My advice is to attempt Section B first as Section A answers tend to be so similar you could easily confuse yourself. Section B is based on technique and knowledge. I have lots of models to guide you and lots of examination technique tips to help you get through the exam.

Good luck with your studies! - Shaun Browne F8 and P7 specialist

JunE 2016 EXAM TIPS

Areas you ESPECIALLY need to coverArticle: CG Inside Out (Cultural/values – Tone at the top/embedding values Ext/Internal CG). Recent article on Integrated Reporting

Corporate Governance

1. Charity CG/ Public Sector (VFM) vrs for profit.2. Family co diffs in governance3. Role of company secretary/Chairman/CEO4. Nomination committee – diversification of board & succession planning

Risk and Internal Controls1. Internal Control disclosures SOX vrs Turnbull2. IC over fraud/ IC limitations3. Risk defs (ALL!), Correlated risk, Embedding risk, Risk manager role, ALARP

EThICS1. AAA / Tucker/ 4 ethical stances and their application to business decisions2. Kohlberg3. Normative vrs instrumental approach to stakeholders4. Ethical Threat to independence/safeguards5. Professional code AND Corporate codes of ethics (also as safeguards!)6. Accounting as a profession and public interest7. Sustainability/ full cost accounting / CSR

Exam technique is crucial! USA: Understand the requirement. Structure answer (use Key Words!). Apply to scenario. Do the mock and then do another. Stress the professional qualities of Accountability, Scepticism, Independence, and Sustainability in your answers.

Good luck! - Owen O’Reilly P1 and P3 specialist

JunE 2016 EXAM TIPS

Areas you ESPECIALLY need to cover

P3 has become a beast and the best way to slay it is to use the financial evidence to make many short/quick points where you say what your point (THIS) MEANS for the company.

Note articles: Big Data (the idea plus Internal Controls on IT) and IT article (POPIT and ADDAIR). Also, recent article on Integrated Reporting (6 capitals) (Sept 15 exam)

Position1. Financial analysis (Housham Garden 12/13, Joe Swift 06/10, MMI 12/08),

2. Analyse performance (Shoal 12/10, Roam 12/14, TMZ 6/15)

3. Flex Budget/Variance analysis, Activity BC (Coolfreeze Pilot, M&G Sept 15)

4. Strategic Capability/Resources/Competences (Wetlands 6/10, ONA 12/07, 9Ms)

5. 5 Forces (Nesta 6/13)/ Diamond (Machine Shop 12/13)

Choices/Options1. Generic Strategies (YTR 6/15), TOWS (ReInk 6/14)

2. Marginal Costing & Contribution (EcoCar 6/11, ITTrain 6/14, YTR 6/15)

3. Investment appraisal/Business Case (Hammond Shoes 6/12, IIA 6/14, Graffoff 12/12) / Classification of benefits (IIA 6/14, Brighttown 6/15) / Project reviews (HomeDeliverer 12/11) / Project controls (gateways)

F7

F8

P3

P1COvER ThE FuLL SyLLABuSYou need to be extremely careful that you do not ‘question spot’. Professional exams will always examine the full breadth of the syllabus. Exam ‘Tips’ from our experienced tutors are provided to give some reasonable guidance to help you prepare for your exams while acknowledging that any syllabus topic can come up in the exam. See the topics as a ‘to do list’ of areas you especially need to cover.

4.Qualitative Forecasting/Scenarios (Nesta 6/13)/ Regression analysis/ Time series (Coolfreeze Pilot, ATD & Noble Pets 12/14, ATL 12/11, Mock 1)

Action/Implementation

1. Software package evaluation /procurement (OneEnergy 6/09, Flexpipe 6/12, Bridgeco 6/14)

2. Implementing Process Improvement (ADDAIR/POPIT) Swim lanes (Stella 12/14)

3. Decision Trees/ Probability/Expected value (World Engines 12/12, Mock 2, 2Tel 6/15)

4. E Procurement (Cronin Auto 6/11), Online branding, Leadership style/ Job enrichment (ARC 6/13), Speed/ extent of change (PSI 6/08), Forcefield analysis, Budgeting, Ashridge, BCG (Shoal12/10)

Exam technique is crucial! USA: Understand the requirement. Structure answer (use Key Words!). Apply to scenario. Do the mock and then do another. These are essential for your time management success. Be sceptical of benefits, probabilities, figures generally.

Good luck! - Owen O’Reilly P1 and P3 specialist

JunE 2016 EXAM TIPS

General advice on P5 The key requirement to pass P5 questions is to read the exam question very carefully to ensure that you know exactly what the examiner is asking you to do and that you clearly understand the link between 1) the question requirement 2) the scenario presented to you and 3) the technical content of the P5 syllabus. These links should be clear to you before you start writing your answer. If they are not, it is highly likely that you have misinterpreted what the question is asking you to do.

The link with corporate mission, CSF’s, KPI’s and information systems. (It is vital that the information provided to management actually enables them to monitor the successful implementation of strategy. The role of information systems and performance reports is regularly examined in the Case Study 50 marker).

• Fitzgerald & Moon’s Building Blocks model or Lynch & Cross’s Performance Pyramid

• Prediction of Corporate Failure using Qualitative models like Argenti

• The role of Big Data-note in particular the recent article by Ken Garrett now on the Technical Resources database for P5

• Management by Objectives (Performance Appraisal) and the use of Reward strategies

• Performance Metrics-I know these have been heavily examined in 2015 but it seems that most exam papers will have some question on the interpretation of these metrics like EVA/ROI/RI

• Risk Quantification and Risk Assessment-note in particular the Pilot Paper question Mackerel Contracting

• Costs of Quality-Juran-possibly for a service organisation

• Benchmarking Performance in the Not For Profit sector and the role of Non Financial Indicators-note the recent article on this issue

• Integrated Reporting-implications for management accountants-(again note recent article on this topic) and the selection of Environmental KPI’s

Best of luck with your studies! - Martin Corboy F5 and P5 specialist

JunE 2016 EXAM TIPS For this paper the examiner assumes you are a budding audit partner and that you want your own audit license. The exam is designed around this approach and puts you in the position of an audit manager. As such the examiner expects your accounting knowledge to be very good i.e. know your accounting standards from F3, F7 and P2!

The examiner has said that she expects you to read around the syllabus. In addition the examiner publishes a list of examinable documents once each year to indicate exactly what regulations and legislation could be assessed in the examination sessions for that year.

As a guide the exam tends to follow the following format:

Q1: Risk and Planning: Identify and explain the audit risks, business risks or financial statement risks (Risk of a material mis-statement) in a scenario. Question could also include explaining audit procedures for a balance sheet item and/or performance indicators in the public or private sectors.

Q2: Assurance: Question usually focuses on the non-audit assurance areas of the syllabus such as due diligence, forensic auditing and PFI. Examiner could ask you to describe the procedures you would perform as an assurance practitioner.

Q3. Audit File Review: Question traditionally asks you to consider matters and evidence whilst performing a file review. Matters would include materiality, accounting standards, financial statement risks and possibly audit reports. The evidence is based around what you would ‘expect to see’ in other words what did the audit senior do and therefore what evidence would he/she have included in the audit file. Question is heavily geared towards accounting standards from F3, F7 or P2.

Q4. Ethics & Practice Management: Examiner usually gives you 3 scenarios and asks you for the ethical issues such as ACCA fundamental principles and/or IFAC threats to independence plus any practice management issues such as quality control(ISQC1).

Q5. Audit Reports: Question usually involves you considering an audit report proposed by the audit senior and also discussing alternative opinions. You need to know all 6 audit reports and under what circumstances you should issue each report.

I have lots of models to guide you through this examination and lots of examination technique tips to help you get through the examination.

Good luck with your studies! -Shaun Browne F8 and P7 specialist

P5

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