Disclaimer: iCPA is not a review center and none from the group are from the academe. These predictions are based on our data analytics coming from more than 4 million answered questions. 

SUBJECT: AFAR
iCPA Accuracy: 39.60% only, the lowest among all the Board subjects based on 4 million + answered questions. 

REMINDERS:
1. Expect long problems.
2. Read the questions first before reading the problem.
3. The BoA loves to put grammar errors as distractors. Do not mind them.

FOCUS: 
1. Home Office & Branch
Many of the Top 5,000 companies in the Philippines have Home Office & Branch operations. Some companies that uses this accounting are: banks, financial institutions (including remittance centers and pawnshops), malls and other retailers, appliance companies (Ansons, Devant, motorcycle companies, etc.)

2. Franchise
The biggest retailers in the country are using the franchising as the engine for growth. In the real world, accounting for the franchise revenue is tougher than our usual short problems. Companies that uses this accounting are: food (Jollibee, Mcdo,), hypergrowth companies (Palawan Pawnshops), SME companies (Julie's Bakeshop & Kambal Pandesal). 

3.  Business Combination
Your undergraduate classes and review centers have taught you how to consolidate. The tricky part in consolidation is the nature of the problem because unnecessary details might be included.  Watch out for intra group consolidation and non controlling entity. 

Worst case:  A problem involving multiple associates and how consolidation is done like this one:
Jane Company has one subsidiary, Josh Limited, and two associated companies, Jerome Limited and Joshua Limited, and Josh Limited has one associated company, Janina Limited. 

4. Joint costing is more relevant to many companies so a few questions on this one. For sure, you have mastered the cost accounting.

You have 5 years of preparation with good teachers, experienced reviewers, tons of books and handouts and your perseverance to become a CPA. You can do it.

xo,
Owly

P.S. There are good case problems (based on actual businesses) in www.icpa.ph that can help.

Please feel free to comment, contradict and contribute anything that can help our next batch of CPAs.