CPA SECTION 6 – ADVANCED FINANCIAL REPORTING (AFR) PAST PAPERS WITH ANSWERS

We’re pleased to bring you Advanced Financial Reporting revision kit which is updated with November 2020 past paper

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“Revision is the process which you remind yourself of the material you have studied during your course, clarify any problem areas and bring your knowledge to a
state where you can retrieve it and present it in a way that will satisfy the examiners.”
The paragraph herein- above captures the essence of revision. It is implicit that revision is nothing short of “fine tuning” the knowledge acquired in the course or making it more
digestible for usage in an examination.
Revision is an integral part of examination preparation. It is not a substitute for a sustained preparation earlier in the course. The syllabus for advanced financial reporting is expansive and cannot be “hastily crammed” for purposes of the examination. A deliberate attempt must be made to study and appreciate the basic principles and concepts and their application.
Revision must therefore be seen as a final stage in the study of any topic. Its utility is therefore undermined if earlier stages have not been completed.
As an integral part of the course revision must be commenced shortly after the commencement of the course. Initially this could take the form of a review of what has been
covered in a week or two not a month as this may be inordinately long. Ideally, revision is necessary after every topic. Coverage of the topics must be incisive and indiscriminate.
The main purpose of this booklet is to help candidates preparing for the advanced financial reporting KASNEB examination to make the best use of the last few weeks before the examination.
The booklet consists of two parts: part one consists of past examination questions. Part two consist of sets of answers. The object of this part is to demonstrate to the candidate the actual information required in responding to examination questions, the detail required and the variety of questions expected in the examination. This section demonstrates beyond question that a serious candidate must familiarize himself with the entire syllabus. Every topic ought to be accorded the requisite attention.

Revision Techniques
I dare state at the outset that I am not an expert in revision techniques. However, it is quite in order to make a few suggestions. A candidates revision strategy should consist of two
facets namely:

  • Looking back to the work already covered.
  • Looking forward to the examination.

Revision must not be boring. This demands application of numerous techniques at different
times. At this level it is assumed that a candidate has tested a number of techniques and should adopt the most effective one(s). The basic revision techniques include:

Introduction v
Highlighting key points and cases in lecture notes, textbooks and other materials used in the course.
Using key terms, words or phrases so as to remember the essential concepts and cases in a topic.
Reducing lecture notes and other materials to key ideas
Practicing as many examination standard questions as possible. This is best accomplished working to time under examination conditions if possible avoiding the temptation to look at the answer before completion.
Practicing the art of writing at speed. This is something every Law candidate need.
In the course of revision candidates are encouraged to think of situations and circumstances which exemplify concepts and ideas likely to arise in the examination.
This enriches a candidates capacity to analyse problem related questions in the real examination.
Candidates are encouraged to practice planning answers and then compare their notes with the answers provided. This is additional practice but must not substitute writing full answers.

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