ACCA AA (F8) Exam Tips
..here are 10 great tips to help
Here's some solid advice
Watch my classroom videos on Control systems (Sales, purchases etc)
When answering questions on the above - just be sensible - it's normally quite obvious when there's a deficiency
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 :)
Now work on substantive procedures - for this you need to watch my videos on (or learn from textbook) revenue, PPE, provisions and stock
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
For audit procedures always say the correct verb (AEIOU or other), to what or who, and why you're doing this
Know the audit opinion qualifications and KAM uses well - especially for going concern
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
Ensure you know the difference between audit, business and FS risk
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