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2019 update SBL study support guide v2
acca financial reporting (ACCA F7)
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SBL Study
support guide
Strategic Business Leader
n Plan n Prepare n Pass
STARTEDGETTING PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
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Welcome to your guide helping
you to study for your Strategic
Business Leader exam
Why use this guide? ✓ Structured approach to show you how to succeed ✓ Signposted resources and how to use them ✓ Tips for success to help you through your studies ✓ Interactive clickable checklists to keep you on track This guide applies to exams for September and December 2019 and March and June 2020.
n
Plan
n
Prepare
n
Pass
Stages of study
Sections
About Strategic Business Leader 03 Professional skills 10 Getting started 13 Learning phase 20 Revision phase 34 Final preparation 39 The exam 41 Appendix – Links 43
STARTEDGETTING PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
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About Strategic Business Leader
The Strategic Business Leader exam is designed to mirror the workplace and presents you with real world challenges. You will complete a number of tasks and must demonstrate that you have the right technical, ethical and professional skills to add value to the organisations you work in. Being ACCA qualified tells the world that not only have you passed challenging exams, but that you are a highly competent professional, helping businesses and the people who work in them to realise their full potential. The Strategic Business Leader exam (SBL): § requires you to demonstrate a blend of technical and practical, professional skills § tests your ability to function as an accountant in a simulated workplace § asks you to respond to requests from people in various roles. It won’t only be the technical quality of your answer that matters, but how professional your response is. The Video: SBL case study extract provides insight into the approach and style of the exam.
Support from ACCA
This guide refers you to specific SBL resources and new resources are being produced all the time. Regularly review the Study support resources for SBL on the ACCA website to keep up to date.
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About Strategic Business Leader
A different style of ACCA exam
§ It is an Integrated Case Study exam; setting work-based tasks. § It examines professional skills. They carry 20 marks directly. Professional skills also open the door to earning the other 80 technical marks. Sound and effective communication is required throughout the exam and should be considered when answering all of the questions. § Exhibits are presented to you in the exam: for example, extracts from annual and integrated reports, media sources, spreadsheets, interview transcripts and meeting minutes. § The exam is 4 hours. The extra time is to give you breathing space to think about how you will demonstrate professional skills in your answers, and to ensure your answer is not only technically sound, but is appropriate for the organisation and intended audience.
Your approach needs to be different:
§ You play a role – this role may change from task to task in the exam. § You respond to tasks give to you from different people - it may the whole board, the CEO, the head of finance, the head of human resources, a divisional director... or any other role. § You need to display professional skills as well as your technical skills § Different formats will be required from you – for example: - Presentation slides and accompanying notes - Letter - Report - Briefing paper - Business case - E-mail - Press release - Project initiation document - Visual aid - Any other business communication! § Have a look at Specimen exams 1 and 2.
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About Strategic Business Leader – Tips for success
✓ Complete the Ethics and Professional Skills module before you start studying for SBL. It is designed to develop the complete range of skills that employers told us they need. By introducing you to the full spectrum of advanced ethical and professional skills and exposing you to realistic business situations, we’re helping to make you really credible in the workplace – essential to pass the SBL exam. In an interactive environment, the module supplements your technical knowledge by helping you develop the ethical and professional behaviours you’ll need to successfully complete your Strategic Professional exams as well as preparing you for a successful career as a trusted and confident professional accountant. ✓ Plan how you are going to improve your practical, commercial acumen during your study period – for example, discussing current business news with others, speaking to colleagues in the workplace, or attending talks from local business leaders or watching them online. ✓ Decide how you are going to study, and book a course. ACCA has a directory to help you find a tuition provider near to you for face-to-face courses or online if face-to-face is not practical for you. Tuition has never been more important. ✓ ‘Buddy up’ with one or more fellow SBL students to swap ideas and answers, and to discuss the exam and its real-world context. The ACCA Learning Community is a good way to connect with other students. You may not have had a ‘study buddy’ before – we would recommend having one for your SBL studies. SBL is about application of skills and concepts – and this is best done in a group.
Tips for success
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About Strategic Business Leader – The syllabus
SBL integrates technical and professional skills. The five professional skills ‘wrap around’ the technical content. Not only are these examined in their own right, but they also open the door to the technical marks. The syllabus and study guide and the examiner’s approach article explain this in more detail. Leadership Organisational control and audit Finance in planning and decision‑making Governance Strategic Business Leader Innovation, performance excellence and change management Strategy Risk Technology and data analytics Analysis Evaluation Communication Commercial Acumen Scepticism
STARTEDGETTING LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
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Professional
Skills
STARTEDGETTING LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
- LINKS PROFESSIONAL SKILLS Right from the start of your studies it’s important to understand the importance of the professional skills that are examined in SBL. You already know that they carry 20 marks, so you may be asking yourself ‘does that mean that I can ignore them and aim to pass on the other 80 marks?’. It doesn’t work like that; the tasks in the SBL exam require you to apply your technical understanding and professional skills in an integrated way. § Communication § Commercial acumen § Analysis § Scepticism § Evaluation In fact, the professional skills act as a gateway and help you to earn the technical marks. For example, in a task that tests analysis skills , the better your analysis, the more you use and draw inferences from the information in the exhibits, the more relevant points you will find to help gain the technical marks too. The article Professional skills marking guide gives guidance on the awarding of professional marks and illustrates how the grade criteria are met. This also explains the general professionalism that is expected in your answers. In general, professionalism is demonstrated by: § making and prioritising the most important points § showing a clear understanding of underlying issues § integrating knowledge and issues from different sources § making only relevant points and not repeating points already made § addressing the requirements as written § creatively presenting the answer to ensure effective communication Professionalism is not about linguistic eloquence or perfect grammar. Many professionals, for example, communicate professionally in English even though English is not their first language. ACCA provides English language support if English is not your first language.
Professional Skills
See the interactive video Real world professional skills.
PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
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Your checklist
Enter for your exam
Complete the Ethics and
Professional Skills module
Consider booking tuition with an
Approved Learning Partner
Buy an Approved Content
Provider study text and question
and answer bank
Draw up your study plan
Get to know your exam
Getting started
PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
- LINKS ✓ The earlier you enter for STARTED GETTING your exam the less it costs! Use our exam planner tool to plan which exam(s) you want to sit and when. ✓ Work through the Ethics and Professional Skills module either before you start, or alongside your studies. This gives you insight into professional skills that you can apply in your exam and in the workplace. ✓ Use the ACCA Learning Community to link up with fellow students around the world studying the same exam as you – get tips, join discussions and share ideas and advice. You can also access live Q&A sessions and presentations. ✓ Spend some time familiarising yourself with the free Study support resources for SBL. ✓ Remember to personalise your edition of Student Accountant so you receive SBL specific information as you need it. ✓ If you think you could benefit from building your English language skills to help you succeed in your exam take a look at the BPP English Language support for ACCA which is a free online programme specifically designed to support you through your exams.
Getting started – Tips for success
We strongly recommend that you buy an SBL Approved Content Provider study text and question and answer bank to ensure exam success. These provide: § the most up to date content and syllabus coverage. § tests, quizzes and other support designed to help you prepare for your exam. § a wide range of questions in exam style, from shorter questions incorporating professional skills right up to full length case studies in the style of the SBL exam, all reviewed by ACCA‘s examining team. You may want to consider attending a face-to-face or online tuition course with one of ACCA's approved Learning Partners for all or part of your studies.
Tips for success
Students who use approved
content materials are more
likely to pass than those
who don’t.
PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
- LINKS STARTED GETTING When drawing up your study plan ✓ Be realistic and consider when you are best able to study – maybe early mornings work better for you or perhaps shorter, more frequent study periods. ✓ Also plan time for question practice from the start, time with your study group or study buddy, reading the business news, reading company reports, attending talks by local business leaders and keeping up to date with ACCA's Study support resources for SBL. ✓ Once you have prepared your plan stick to it! ✓ Consider building in an extra study period after every few chapters to review and consolidate your learning. ✓ Take a 5-10 minute break every hour to help maintain your motivation and concentration. ✓ Use this plan whether you intend to self-study through all the phases or mix with some tuition from an Approved Learning Partner. ✓ Sign up to relevant news feeds – so your phone will alert you when there’s something fresh to read.
Tips for success
You must attempt questions right
from the start of your studies. SBL
is a practical exam so you need to
get used to doing the tasks, not just
reading about them.
Getting started – Draw up your study plan
PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
- LINKS STARTED GETTING Monday Tuesday Wednesday Thursday Friday Saturday Sunday Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 REVISION Week 14 REVISION Week 15 REVISION Week 16 REVISION Week 17 REVISION Week 18 REVISION AND FINAL PREPARATION
Getting started – Your study plan Print out and write down when you will study, relax and revise!
Evening study period Daytime study period Other commitments 17 Study group / buddy Real life research (news, read reports, listen to speakers...) Colour boxes in your preferred highlighter colours.
PROFESSIONAL SKILLS LEARNING PHASE PHASE REVISION FINAL PREPARATION THE EXAM APPENDIX
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Getting started – What the examining team has said about SBL
How is the Strategic Business Leader syllabus examined? As a 4-hour exam with a single compulsory section, it uses an integrated case study model with a number of tasks and all requirements are related to the one scenario. To ensure that the tasks are realistic and that ACCA can examine the syllabus more widely, candidates may have to take on different leadership or management/ consultant roles in different contexts, to demonstrate a wider set of leadership skills. The skills that are assessed tend to be more practical and analytical rather than technical or academic, and could include: § Data analysis of spreadsheets and their interpretation § Analysing visual aids such heat maps, flowcharts, process maps, etc § Problem identification and resolution § Making supported recommendations § Drafting reports, memos, letters, articles or another form of written business communication § Drawing up some presentation slides with accompanying notes This is certainly not an exhaustive list of tasks, but provides an idea of the range of disparate information sources that might be provided in the examination as well as the style and types of answers required from the students. §
####### An extract from the
####### examiner’s approach article:
This exam seeks to test your ability to function in the workplace as a professional. It is a practical exam. Your answers need to be grounded and explained appropriately given the audience, so it’s important to: § Discuss practical solutions to business problems with others § Keep up to date with the business news - this is a good way to improve your practical application of technical ideas
STARTEDGETTING PROFESSIONAL SKILLS PHASEREVISION FINAL PREPARATION THE EXAM APPENDIX
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Your checklist
Work through the control
sheet which has been
designed to give you a
structured approach to your
learning phase to ensure you:
- gain the knowledge
you need
- understand all of the
professional skills; and
- learn how to apply your
knowledge and skills to
pass the exam
Complete the ‘professional
skills reflections’ pages to
record your progress with
the professional skills
Learning phase
2019 update SBL study support guide v2
Module: acca financial reporting (ACCA F7)
University: Association of Chartered Certified Accountants
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