f2 examinar conference
TRANSCRIPT
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REVIEW OF
PAST EXAMS
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WHAT WASNT
DONE WELL?
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Lack of knowledge
Careless reading
Lack of understanding
Narrative questions generally
Failure to practise questions
F2 problems
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LESSONS
LEARNED
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WHAT TOFOCUS ON?
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Cover the full syllabus
Understanding
MCQ technique
Objective testing question practise
LIST OF POINTS
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FOCUS ON
FUTURE
EXAMS
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WHATS NEW?
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50 x 2 mark objective testing questions
CBE will continue to use a mixture of MCQ, NE, MR, MRMquestions
Paper based exam will continue to use MCQ only
The exam structure
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WHATS NEW?
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Short term decision making
Dealing with uncertainty
Apply methods of relating non production costs to cost units
What has gone ?
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Performance measurement
Expanded budgeting section
Management information
Alternative costing principles
Whats new ?
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E1 Overview
E2 Application
E3 Cost reduction and value enhancement
E4 Monitoring and reporting
Performance Measurement
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A division has a capital employed of $2,000,000 and earns anoperating profi t of $600,000. It is considering a project thatwill increase operating profit by $20,000 but would increase its
capital employed by $80,000. A rate of 15% is used tocompute interest on capital employed.
What will be the effect on residual income and return oncapital employed if the division accepts the project?
Residual income Return oninvestment
A Increase Increase
B Increase Decrease
C Decrease Increase
D Decrease Decrease
Typical MCQ
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D2 Statistical techniques
D5 Capital budgeting
D7 Behavioural aspects of budgeting
Budgeting
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Two years ago the price index appropriate to the cost ofmaterial X had a value of 120. It now has a value of 160.
If material X costs $2,000 per kg today, what would itscost per kg have been two years ago?
A $1,500
B $1,667
C $2,667
D $3,200
Typical MCQ
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The following statements relate to the participation of juniormanagement in the budget setting process:
(i) It speeds up the budget setting process.
(ii) It increases their commitment to budgets
(iii) It incorporates their knowledge into budgets.
(iv) It improves their morale and motivation.
Which of the statements are true?
A (i), (ii) and (iii)
B (i), (ii) and (iv)
C (ii), (iii) and (iv)
D (ii) and (iii) only
Typical MCQ
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Sources of data
Presenting information
Management information
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A publishing company is researching the reading habits of the
United Kingdoms population. It randomly selects a number oflocations from around the United Kingdom and theninterviews everyone who lives in these locations.
What is this approach to sampling known as?
A Systematic sampling
B Stratified sampling
C Quota sampling
D Cluster sampling
Typical MCQ
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Activity based costing
Target costing
Life cycle costing
TQM
Alternative costing principles
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Which of the following are benefits of using activitybased costing?
(1) It recognises that overhead costs are not always driven bythe volume of production.
(2) It does not result in under or over absorption of fixedoverheads.
(3) It avoids all arbitrary cost apportionments.
(4) It is particularly useful in single product businesses.
A 1 only
B 1 and 2 only
C 2 and 3 only
D 1 and 4 only
Typical MCQ
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WILL THINGS
CHANGE?
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Section A: 35 x2 mark questions
Section B: 3 x 10 mark longer form questions
Section B testing syllabus areas C D & E
Future changes to exam format
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