ACCA P1 - Governance, Risk and Ethics Exam technique Radka Nedvědová, PwC’s Academy
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Topics
Syllabus and exam structure Exam technique tips
§ Planning your answer § Understanding the verbs § Professional marks § Examiner’s feedback
Preparation tips
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Syllabus and exam structure
Where does it fit Syllabus areas Exam structure
Worldwide pass rates
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Introduction of the paper Where does it fit
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Introduction of the paper Syllabus areas
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A - Governance and
responsibility
B - Internal control and
review
C - Identifying and assessing
risk D - Controlling
risk
E - Professional values and
ethics
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Introduction of the paper Exam structure
Section A • 1 compulsory question • 50 marks • case study style, professional marks • broad range of subject areas across the syllabus
Section B • choice of 2 from 3 questions • 25 marks each • discrete subject areas
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A
15 minutes +
3 hours
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Introduction of the paper Worldwide pass rates
ACCA P1
http://www.accaglobal.com/gb/en/student/exam-support-resources/pass-rates-for-acca-qualifications.html
48% 49% 52% 52% 48% 49% 50% 53% 51% 52% 51% 53%
49% 48% 53%
49% 53%
0%
20%
40%
60%
80%
100%
S15 J15 D14 J14 D13 J13 D12 J12 D11 J11 D10 J10 D09 J09 D08 J08 D07
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Exam technique tips
Planning your answer Understanding the verbs Professional marks Examiner’s feedback
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Exam technique tips Keys to success
Coverage
Prof. marks
Verbs
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Exam technique tips Making your point
WHAT?
SO WHAT?
• facts identified in the scenario • theoretical knowledge • limited marks only
• explanation, analysis • application to scenario • more marks available
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Planning your answer
• requirement verbs • marks allocation • compound
requirements
How many ideas? How much to write? Broad or deep?
Analyze the requirements
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Planning your answer
• requirement verbs • marks allocation • compound
requirements
How many ideas? How much to write? Broad or deep?
• annotate the question paper
• relate text to requirements
• monitor number of points identified
Can any model(s) help to find more?
Analyze the requirements
Read scenario actively
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Planning your answer
• requirement verbs • marks allocation • compound
requirements
How many ideas? How much to write? Broad or deep?
• annotate the question paper • relate text to requirements • monitor number of points identified
Can any model(s) help to find more?
• prioritize ideas • gain the maximum
from each idea • focus on
presentation
Will the markers find and understand your ideas?
Analyze the requirements
Present your answer
Read scenario actively
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Understanding the verbs Intellectual levels – requirement verbs
Level 1 – Knowledge and comprehension list, define, identify, calculate – not frequently used in P1 Level 2– Application and analysis contrast, explain, discuss Level 3 – Synthesis and evaluation construct, evaluate, assess, criticise, formulate, advise
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Understanding the verbs Requirement verbs – intellectual level 3
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Verb What you need to do
construct (the case) / synthesise
prepare arguments in favour of (or against, as required) particular position or course of action – even if you do not personally agree (no marks for justifying the opposite position).
assess (the importance of..., the advantages of...)
say how important something is and why, how it would represent a challenge
evaluate, critically evaluate
give arguments for and against - both perspectives have to be discussed (critically evaluate may be more biased towards the negative side); conclude where appropriate
criticise
show how something falls short of the expected or best practice (you need to know what good and bad practice is); carefully scrutinise the case, identify the behaviour which is wrong or inappropriate, and discuss why.
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Understanding the requirements
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Hayho (Jun12 Q1)
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Understanding the requirements
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Hayho (Jun12 Q1)
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Understanding the requirements
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Rowlands and Medeleev (Jun08 Q1)
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Understanding the requirements
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Rowlands and Medeleev (Jun08 Q1)
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Understanding the requirements
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Chemco (pilot 07)
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Understanding the requirements
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Chemco (pilot 07)
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Understanding the requirements
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Hoppo (Jun13 Q1)
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Understanding the requirements
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Hoppo (Jun13 Q1)
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Understanding the requirements
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Bobo Car Company (Jun11 Q1)
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Understanding the requirements
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Bobo Car Company (Jun11 Q1)
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Understanding the requirements
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ZPT (Dec10)
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Understanding the requirements
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ZPT (Dec10)
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Professional marks
Fact: professional marks can turn a fail into a pass Many scripts are marginal fails (47 – 49 marks) Only few candidates score more than 2 of the 4 marks
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Professional marks
• usually 4 marks in compulsory Q1 • awarded for:
› clarity, logical flow, persuasiveness, tone of the answer
• allocate time › 4 marks = 6-7 minutes › think, prioritize, structure,
connect, present • technical articles
http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012s/sa_junjul09_condon.pdf
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Professional marks
Formats examined in past exams
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Type of communication Name of question Exam session memorandum Chemco pilot
Mary Jane Dec09 letter Worldwide Minerals Dec07
Global-bank Jun09 Hiaka Energy Dec13
statement / speech: • to read at AGM Rowlands & Medeleev Jun08 • at national legislative assembly ZPT Dec10 • to present before committee Coastal Oil Dec11 • to read at EGM Bobo Co Jun11 annual report narrative Swan Hill Company Dec08 website statement Hesket Nuclear Jun10 notes: • briefing notes (CEO for board
meeting) Hayho Jun12
• notes from consultants to board World Justice (Xaxa) Jun14 • article for investors magazine P&J Dec12
Lysus Jun15 press release / press statement Hoppo Jun13
Cheapkit Dec14
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Examiner’s feedback
• time management – Q1 v. section B • order of attempting questions
- Q1 first - requirements in order,
all have to be answered • limit use of bullet points
- explain and apply ideas to gain marks • understand the verbs • know who is your audience • avoid question spotting – cover the whole syllabus • read technical articles
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Preparation tips
Approach to home study and revision Resources
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Approach to home study / revision
Study syllabus topics • from study text or online resources • from technical articles or podcasts
Practice past exam questions • analyze the requirements • plan the answers on your own • assess quantity / quality
• check suggested solution and marking scheme • read examiner’s comments
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ACCA resources
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Exam resources finder http://www.accaglobal.com/gb/en/student/exam-support-resources.html
• Past exams questions and answers
• Examiner’s reports
• Technical articles
Self study guides http://www.accaglobal.com/gb/en/student/your-study-options/choosing-to-self-study.html
ACCA Learning community https://www.accalearningcommunity.com/
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Complete Professional Ethics Module
• access via myACCA • useful addition to syllabus on Ethics • required before transfer to membership • e-learning units to be completed at your convenience • framework + application
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Good luck with your exams...
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Radka Nedvědová PwC’s Academy the. [email protected]