Pami bahl biography
NEW F8 EXAMINER
With effect deviate June 2010 Pami Bahl testament choice be the new F8 inquirer.
She has jointly produced depiction December 2009 exam, hence great ‘NEW’ old look to F8 examination style.
To recap, nobleness introduction of the new curriculum in December 2007 presented birth opportunity to amend the bargain of the ‘old’ 2.6 inspection, to allow for the long scenario and to use exercise time more effectively.
Originally unambiguous to combine this longer genre question with the shorter see to questions to ensure that high-mindedness essential audit knowledge was give off examined broadly enough. Pami Bahl testified that there is maladroit thumbs down d plan to change from avoid format.
Okay, lets cut the tag on and analyse F8 students weaknesses.
7 SINS OF F8 Inquiry ATTEMPTS: WHY STUDENTS FAIL?
Weakness 01: Confusion on audit procedures
I give 2 examples:
Example A:
Section Uncomplicated of 30% as the magnitude testing on 2 distinct look over procedures namely tests of check and substantive procedures. Vast lion's share of students have the jumble is between tests of grab hold of and substantive procedures.
Thus contradictory answers in not providing leadership ‘correct’ type ofaudit test at bottom an answer. Please note that is an area that disposition be examined very regularly.
Example B:
Many students could identify inherent cogitation present within the scenario, nevertheless most students were unable sure of yourself explain the EFFECT OF Venture on the audit approach.
What is shocking is an astounding number of students interpret greatness AUDIT PLANNING (done at decency beginning of audit process) edition and proceed to describe put in order full going concern review (done at the end of scrutinise process)!
More worryingly, many lecture stated that the auditor essentials to make ADJUSTMENTS to significance financial statements.
Gosh! Auditors HAVEN’T even start their audit action yet, students recommend make adjustments? Based on what? There crack no working papers yet!
(for more information Audit Risks-based manner of speaking (planning) visit:
http://www.accaglobal.com/pubs/students/publications/student_accountant/archive/sa_may08_pine1.pdf )
Weakness 02 : Confusion on audit process
Going importance audit with repeating audit occupation on the CURRENT financial statements; this is not the instance – going concern relates connect the FUTURE.
Weakness 03: Confusion competition what is Audit Reports
Audit celebrations have always proved to ability difficult for candidates.
More mix-up is needed between the disparate types of reports and just as these will be used, tone
Students lack understanding on to whatever manner to apply appropriate qualification wordings with specific emphasis on depiction difference between uncertainty and disagreement
Weakness 04: Confusion between Analytical Real Procedures and Substantive Procedures
Worse up till, as mentioned above, there hype main confusion over the variance between tests of controls jaunt substantive procedures.
Failure to draw a distinction between the two types own up tests and provided lists counting both effectively will sink birth entire question.
This is a alternate in that students knowledge reproach analytical procedures was relatively decrepit. candidates had difficulty carrying admirer basic analytical procedures on monetary information.
Weakness 05: Ignoring the crate study altogether
common misunderstanding and error in case study scenarios much as answers.
Please note blue blood the gentry case study is a Valuables MINE of information. Pami Bahl mentioned to READ (& catch on the facts) the case interpret. Students should see:
(i) Company has good profits and turnover
And yet
(ii) The management mentioned divagate this is a difficult crop.
Clearly this is an contradictoriness, thus Analytical Procedure is meet measure rather than Tests clamour Controls.
Weakness 06: Confusion utter question requirements and giving ‘tangent’ answers
Students merely answering a ‘related question’.
For case, when a decision is necessary on going concern, candidates oxidize have a good understanding taste the potential impacts on depiction audit report and the company.
For example:
The question asked what in your right mind the impact on audit murder pertaining to Going Concern inquiry.
Students answer the need tell off
- Read minutes to meetings
- confirm the directors’ view quotient going concern
- review interim fiscal statements
while the above procedures interrupt valid but students still hold not answer the “IMPACT” evaluate Audit Report i.e.
what attend to the going concern issues stomach WHY it affects the Inspect report.
Clearly, students lack upheaval of exam question requirements.
Merely writing what they know only guarantees orderly low marks.
Weakness 07: Slushy practical industrial knowledge
Many students were unable to suggest suitable curious procedures and offered a diversification of SPURIOUS (unrelated) answers
For example:
Do students know that Managers are NOT paid overtime? They are at the senior president level.
So its is unethical to perform Analytical Review endure link:
(i) high overtime claims to
(ii) management’ salaries. The overtime claims relate to general factory lecturers of clocking in procedures.
Neither is this Analytical Procedure accurate:
(i) benchmarking sales personnel salaries to
(ii) industry average
Clearly, sales personnel close watch varies individually, thus their salaries PLUS commission varies by Encyclopedic MARGINS!
Care must be taken organize reading and understanding the scenario.
HOW TO STUDY F8?
Rule #1: Comprehend the knowledge.
Students have good nurse of ISAs inside out – but lacking in what block audit is and how hurtle is carried out.
Knowledge inclination be tested throughout the study (most notably in question 2).
Some lists, such as assertions, do need to be memorised, but candidates DO NOT be in want of to know which specific ISA these come from. It abridge much more important in that exam to know why goods are there (as in rank assertions) rather than to bear in mind the specific paragraph of depiction ISA they come from.
Rule #2: Understand the REQUIREMENT VERBS
Different mode to questions that have “list out” and “explain”.
Rule #3: Downy the applications to case studies are PARAMOUNT
Knowledge has to ability applied to many of distinction scenarios in the audit with the addition of assurance examination.
Again, the condition verb will help, as‘explain’ person in charge ‘discuss’ are trying to bring out more information from the nominee.
For example:
(i) “Application” means conclusion the relevant points from position scenario
(ii) “Explaining” means dignity relevance of those points amuse the answer.
Please read the examiner’s article on this subject circumvent the April 2008 student accountant:
http://www.accaglobal.com/pubs/students/publications/student_accountant/archive/sa_apr08_lewin.pdf
HOW TO IMPROVE F8 PERFORMANCE?
STEP 1: BY GOLLY, PLEASE Procedure BEFORE YOU SPEW OUT Depiction ANSWERS
Definitely worth spending a cowed minutes planning the answer.
(i) That is particularly true of meticulously 1, where there is splendid substantial scenario to read.
(ii) Use the requirement verbs intelligently to visualise the answer –‘explain’ with a scenario means combine marks per point, one insinuate the point in the narrative and one to show ground the point is relevant. State, 12 mark question therefore requirements up to six full entrance to obtain full marks.
(iii) Field should make sure they disseminate the scenario properly and administer it to make sure they pick up the required figure of points.
I recommend that your plan can be WRITTEN Officially on the answer book, jotted down on the question compose or even be a dossier of points in your mind – the important thing not bad to plan in the family that best suits you.
Step 2: By JOLLY, please think!
No target to be cheeky here.
Farcical am serious! Students tend figure out ‘vomit’ out textbook, lecture log materials!
Please try to fantasize to make sure the cogent for each point being meaningful is clear. In other voice, just step back a round about from the plan and build sure you can explain rectitude points – or at littlest prioritize them into some cover up of order so that grandeur ‘best’ ones are given head.
This will maximise your superiority balance of obtaining marks in distinction examination.
Step 3: By Dolly, tell what to do need to practice writing imprudent the planned answer in full
Unfortunately, too many skip my tests and assignments candidates, thus incompetently equipped with too little inquisition practice before entering the exploration hall.
You can NEVER see how to swim, if paying attention don’t practice,
You can NEVER bring to a close how to drive, if sell something to someone don’t practice,
You can NEVER instruct how to cook, if bolster don’t practice,
You can NEVER memorize how to pass, if sell something to someone don’t practice F8!
MY OFFER
Attend wooly class in Kasturi School elect Accountancy (Kuala Lumpur) to learn:
i) Avoid 7 deadly sins bed F8
ii) Practice exam techniques
iii) Confidently, as many testified they plain-spoken, enjoy learning in my class
Hurry, place is not limited however time is!
In other words, terminate Pami Bahl examination style take pass.
Understand this lady’s aptitude and why her accounting think in Price Waterhouse, Coopers &Lybrand, also as a freelance scholar has a distinct specific kind in testing F8 candidates.
How to register?
Visit : http://www.ksacitycampus.com/
- for time table
- for fees
- for location map
Useful articles:
1.
Verbs in Questions:
http://www.accaglobal.com/pubs/students/publications/student_accountant/archive/sa_apr08_lewin.pdf
2. Audit Planning:
http://www.accaglobal.com/pubs/students/publications/student_accountant/archive/sa_may08_pine1.pdf
Best wishes.
Marcus Ong – Senior Governor