ACCA Dec Exam 's Result published

Finally, the result for my three papers from F1 till F3 have been announced on 16.2.2009(Monday). I am glad that I passed all papers in part 1. I get the highest marks in Accountant in Business(F1), which emphasize more on management,economic and internal control of an organisation. Apart from that, I get an average score for Management Accounting(F2). This paper will served as a base for F9. Moreover, I get
a border line marks for Financial Accounting(F3). Anyway, I am lucky to pass F3 and I would do more revisions on F3 especially topics on partnership,direct and indirect cash flow and sales taxes.

Company Financial Statement - F3

Contribution Break Even Chart

Opening Inventory,Cost,Profit

Opening inventory overstate -> Cost overstate -> Profit understate

Opening inventory understate -> Cost understate -> Profit overstate

Formulas for Basic Budgeting:
Pg 277
Budgeted production = Forecast sales + Closing inventory - Opening inventory

Pg 278
Material usage budget = budgeted production X quantity required per product

Material purchases budget = Material usage budget + Closing inventory - Opening inventory

Pg 281
Labour budgets = number of hours X labour rate per hour

Relationship of Closing Inventory,Cost and Profit

Closing Inventory Overstate -> Cost Understate -> Profit Overstate

Closing Inventory Understate -> Cost Overstate -> Profit Understate

Margin and Markup

Income Statement and Balance Sheet

Paper F1: Competitive Factors

Chapter 12

Generic Strategy: Cost Leadership, Differentiation and Focus.

Porter 's Five Forces Analyst:


Porter 's Value Chain Analyst
Primary activities:
Inbound Logistic -> Operation -> Outbound Logistics -> Marketing & Sales -> Services
Support activities:
Firm Infrastructure
Human Resources Development
Technology Development
Procurement

ACCA Exam is coming soon

I had read the articles on Student Accountant Magazine. A few changes on terminologies in F2 and F3 Exam have been noted as follow:



Revised IAS 1 is examinable from the June 2008 exam session onwards.

balance sheet -> statement of financial position

cash flow statements -> statement of cash flows



From June 09 Exam onwards,

Income statements will renamed to statement of comprehensive income