P阶段TIPS 2009 june question, Business, planning, strategic, management

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P3 – Business Analysis

Section A

? Question 1 will still focus mainly on the strategic planning process. Key areas may be:

? SWOT
? Ansoff
? Acquisition

? Also expect an implementation issue such as culture or change management

Section B

? If culture and/or change management do not appear in the compulsory question then they may appear in the option questions

? Other areas may be:

? TQM
? Supply chain management
? Choosing & evaluating an IT system

P4 – Advanced Financial Management

Section A

? Business valuation (various methods, with pros and cons)
? Option pricing – Black Scholes model


Section B

? Interest rate hedging (futures and options), bond pricing and credit spreads
? Stakeholders and conflict of objectives
? Investment appraisal – with foreign currency

P5 – Advanced Performance Management

? Corporate failure as per recent article (July 08)
? Pricing (transfer pricing)
? Strategic planning and gap analysis
? Performance measures for both private and public sector
? Environmental management accounting

P6 – Advanced Taxation

- IHT vs CGT for lifetime gifts
- Sole trader/partnership cessation (IT, NICs, CGT and VAT), possibly with incorporation
- Lease versus buy for assets
- Employed versus self-employed (IT and NICs)
- Badges of trade (IT vs CGT)
- Trusts (not a whole question)
- Corporation tax – possible areas:

-R&D

-SSE

-Expansion overseas/CFCs

-Group reorganisations

-Liquidations

- Overseas aspects of personal tax

- VAT group registration

- Ethics (up to 5 marks)

P7 – Advanced Audit & Assurance (UK & INT variant)

Core areas of the syllabus expected to be examined in every sitting:
? Engagement planning and risk (audit risk likely this sitting);
? Gathering evidence;
? Ethics/professional issues; and
? Engagement reporting (particularly audit qualifications).

Subject of recent articles:
? Forensic investigations and audit (September 2008). (Likely to include elements of planning and/or gathering evidence similar to question 2 of pilot paper).

‘Peripheral topics’ from exam approach article yet to be covered:
? Regulatory framework;
? Obtaining professional work; and
? Corporate governance.