ACCA AA (F8) Exam Tips
..here are 10 great tips to help
Here's some solid advice
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Watch my classroom videos on Control systems (Sales, purchases etc)
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When answering questions on the above - just be sensible - it's normally quite obvious when there's a deficiency
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If you don't see a deficiency - you haven't tackled enough questions - as the same deficiencies come up time and time again - get working those past papers on deficiencies in control systems now :)
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Now work on substantive procedures - for this you need to watch my videos on (or learn from textbook) revenue, PPE, provisions and stock
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If you get stuck thinking of audit procedures - then use the assertions to help you think of some - test for control / obligation, accuracy / valuation, ownership,existence, completeness and cut-off
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For audit procedures always say the correct verb (AEIOU or other), to what or who, and why you're doing this
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Know the audit opinion qualifications and KAM uses well - especially for going concern
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Now learn all about ethical threats and again do as many past papers as possible - or watch me do them in the classroom - the same ethical issues also come up time and time again
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Ensure you know the difference between audit, business and FS risk
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You now just need to learn the BASICS of the rest - remember MCQs mean this is vital - so use the revision course in class 1 to help
All that's left now is for you to work through these and you'll do well :)
Keep at it
Richard