I have done a considerable survey, chit chat, discussion to come to this summary for optional papers (which i will laso take next sitting) :
1) P4
Lecturer view : Considered the most useful paper since you can apply it in real life, work & personal use (if you want to analyse stock market).
Student view : Most of them "afraid" to take this paper since it has garnered many negative perception from those who failed
Accountant (I knew a finance amnager from PLC) : He said this paper (used to be core) is very useful to help accountants to promotion & very
practical in work life.
My view : Bring it on.
2) P5
Lecturer view : Since this paper has the most lecturer around, but most of them agree that this paper is easier to teach compared to others.
They tend to point to the fact that this paper overlaps many other paper (P3 & F5) so its useful to take together with others.
Student view : Contrary to P4, many people like to take this paper (deemed the easiest) & they syllabus its not that wide.
Accountant : He believes this paper only beneficial if you take on the management job (or management a/c : CIMA). There are many areas will not be practical in work (like forecasting & ABC), he only seen ABC widely used in hospital.
My view : Demotivated. (i'm weak at costing)
3) P6
Lecturer view : No overstatement but i dare you all tax lecturer are the most veteran compared to other papers. All of them insist that tax should be known & practiceable as a whole (they think F6 is too shallow). They agree that P6 requires a strong foundation from F6 (like P2 from F7).
Student view : They are split on this, some like due to its calculation in nature while others hate to memorise too much.
Accountant : There is no doubt that tax is very important whether your comp internalises its tax dept / outsource it. If outsource you can still prepare your F/S accordance with tax law (great synergy together). Comp will ove it if you can cut tax.
My view : Interested (but i heard its a boring paper + with more boring lecturer)
4) P7
Lecturer view : Sadly i have not known any lecturer teaching this paper (has to self study) but there are one in FTMS (Fung Chee Kong : please check). Other lecturer like sheil & phillip drop this paper due to its overly heavy application & nothing much to teach (not knowledge added).
Student view : Why we talk on this you ask (most of you out there HATE audit especially if you failed once b4). However for those who like theory & self study this is a good paper to start. I have a friend who has wroked b4 & claim its very easy to apply work experience for this paper.
Accountant view / auditor's : They agree that audit is not something to be teached but experienced & practiced in real life (every comp internal control & system is different). But too those who want to remain as auditor forever (this may be a bit zealous) its ok to take this paper.
My view : Although i don't hate audit but i found nothing to induce me to take it.
Hope potential optional paper taker will be illuminated.