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ACCA P4 Exam Tips September 2015 Session | Acca Study Material

ACCA P4 Exam Tips September 2015 Session

This article provides Acca Exam Tips For P4 For September 2015 Session. In this article following content is provided Acca Exam Tips By Kaplan, Acca Exam Tips By Bpp, Acca Exam Tips By Lsbf, Acca Exam Tips By First Institution, Acca Exam Tips By Open Tuition, Acca Exam Tips By Becker Professional Education, Acca Exam Tips By MM University and Acca Exam Tips By Many Other Top Institution Providers And Tutors.

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ACCA P4 Exam Tips September 2015 session given below are just intelligent guesses from exam point of view provided by famous tuition providers.

These exam tips must not be relied on totally. To increase chances of success in Exams you must prepare full breadth of syllabus and topics

ACCA P4 Exam Tips:

ACCA P4 Advance Financial Management Paper Exam Tips for September 2015 Session are given below by famous tuition providers


P4 is a technical paper with some complex calculations sometimes but DO NOT think of the exam as numbers-only. There are plenty of discursive parts which are usually easier than the calculations and easy marks can be picked up by applying commercial awareness and common sense.

Analyse the individual requirements of the question. If you can do the wordy bits first then do so as you will not get bogged down in them like you will with the calculation elements.

Do not expect to finish a question. You must stick to time, especially on the calculations which are very easy to over-run on. The exam is extremely time pressured and the secret to passing is to have a go at every part of every question, not to try and get 100% on every question – to do that you would need about 7 hours!

If you are not sure what to do with a particular figure in a question, ignore it and move on – state assumptions, you haven’t got time to worry about it!

If you get a Black-Scholes question, always list out the input variables as your first stage and assign the relevant values to them – there will be about 2-3 marks usually for doing this.

Practice as many questions as possible but do as many as possible to time. You must get used to doing the questions in the time available and not spending too long on them.

Practice as many questions as possible across the syllabus, and don’t only concentrate on what you consider to be the core areas.

Choose carefully on section B of the paper – it is very limited choice but nonetheless it will be critical.

Do not put down unnecessary workings; because as it will cost you heavily in lost time.

If there is a calculation that you are unable to complete – for e.g. a WACC which prevents you from going on to do the NPV, then just make a reasonable assumption and estimate a WACC which you have been unable to calculate, this will then allow you to progress the calculation and get on to the often more generously rewarded discursive parts of the question.

Look out for examinable articles – two in particular for June 2011:

  • 24 August – The new examiner Shishir Malde gives his approach for the P4 paper
  • 23 September – Another article by the new examiner Shishir Malde on Risk Management January/February article

Two key topics are always NPV appraisal and capital structure, particularly CAPM and Betas. You will not pass if that is all you know but you will struggle to pass if you do not know them!


We would expect section A questions to be mainly based on core syllabus areas such as: project appraisal, business valuations (both are likely to include cost of capital calculations) and risk management (hedging).

– currency risk management
– business re-organisation
– real options

General advice
The 50 mark compulsory question will, inevitably, draw from a number of different syllabus areas. The examiner has said that he does not plan exams by referring to past exams (i.e. checking that the whole syllabus is being tested over the course of a number of exam sittings).

These factors mean that question spotting extremely difficult for this paper. However we would expect section A questions to test core syllabus areas as listed above.

In section B one of the questions may be entirely discussion based (but this is not guaranteed from June 2013), and often involves ethical issues and general financing issues (e.g. dividend

Remember that this paper is not a maths exam – in all exam questions the examiner is as interested in your ability to communicate well and to give good management advice as he is in
your numerical ability.

Keep checking the ACCA website for articles written by the P4 examiner in the lead up to the exam, these are often tested.


– Investment appraisal using adjusted present values or capital rationing.
– Cost of capital using the principles of Modigliani and Miller prepositions or geared and ungeared betas.
– Mergers and acquisitions – valuation using free cash flows/P/E ratio method, cash offer or share exchange and regulations of takeovers.
– Assessing the success of a given capital reconstruction scheme.
– Hedging exchange rate or interest rate risk using futures, options and swaps.
– Option pricing theory. Real options, example, option to abandon, expand and delay. Valuation of company using the Black-Schole option pricing model.

Becker’s Professional

Coming Soon

First Intuition

– International investment appraisal techniques focusing on risk management tools such as value at risk.
– Impact on WACC following hedging of interest rate risk.
– Company valuation based scenario, possible MBO finance to structure.
– Adjusted present value with link to real options and Black Scholes option pricing model.

Open Tuition

Coming Soon

Manchester Metropolitan University (MMU)

Coming Soon

Acca Exam Tips provided from famous tuition providers may be amended to make them easier to understand and read. We try our best to provide everything that is provided to us but we cannot guarantee that this information is 100% accurate. Exam Tips are just intelligent guess and must not be relied totally. Do full preparations of your subject to pass it.

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