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Business ACCA V8, Global Body for Professional Accountants

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tzxsean
post May 16 2012, 11:06 PM

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QUOTE(Janping @ May 16 2012, 11:05 PM)
Not too sure, I heard that it's the combination of F8 & P2. So... tongue.gif
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refer to my post on last page


Added on May 16, 2012, 11:09 pm
QUOTE(Chelsea1490 @ May 16 2012, 11:06 PM)
Honestly i dunoe what i should choose.. i dislike audit bt many senior said audit can add more value in cv..
confusing  rclxub.gif
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1st...are you going to audit?

2nd ...if u just join from junior level ... not necessary to have p7 ... u need to learn from the very basic

p7 usually is for more higher level auditor since mainly it focus on how to plan audit rather than carry out an audit itself

3rd...what is ur preference in those 4 optional?

4th.... any good lecturers in those papers in ur area?



This post has been edited by tzxsean: May 16 2012, 11:09 PM
tzxsean
post May 16 2012, 11:17 PM

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QUOTE(Chelsea1490 @ May 16 2012, 11:12 PM)
rclxub.gif Theory ..i hate memorizing. I had a bad experience in audit subject during degree. Dunoe i should take p7?
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it can only be answered by ur heart smile.gif

QUOTE(Janping @ May 16 2012, 11:13 PM)
Ohhhh haha. ok. But if I choose P5 instead of P4, will it restricts me to enter into finance field? Or doesn't matter as long as I pass all?

Sorry if I'm asking silly question >__<
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then y dun u take p5 n p4?

it does matter to some employers..not all


Added on May 16, 2012, 11:18 pm
QUOTE(Chelsea1490 @ May 16 2012, 11:16 PM)
Ya. I will be working in audit firm for at least three years. I gt a bit interest in tax even though result just average.sweat.gif
i am studying at sunway ..
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then work ur average tax to better since is ur interest

as for audit...if u wan join and leave after 3 years..no need that p7

This post has been edited by tzxsean: May 16 2012, 11:18 PM
tzxsean
post May 16 2012, 11:26 PM

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QUOTE(maymay @ May 16 2012, 11:20 PM)
today i received a red email from acca, saying that if i still don't pay they gonna remove my name. so i quickly went to myacca, but they hv blocked me from paying online , say i must pay using postal order/bank draft    vmad.gif like that how, chase ppl pay money but don't let ppl pay , afraid i pay by bank draft, by the time post to uk already late  vmad.gif
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so problem is on your side

who ask u dun wan pay

then wan marah shakehead.gif
tzxsean
post May 16 2012, 11:35 PM

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QUOTE(Chelsea1490 @ May 16 2012, 11:32 PM)
Haha.then problem comes. P4 / p 7? hmm.gif
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and like i said ... we all can advise u according to our own experience and perspectives

which are mostly different...

one man's meat is one man's poison


u should decide it urself based on ur heart on which u have more interest/confident

so that u got no ppl to blame but urself should u fail tongue.gif

which i hope u won't

cos if u're really interested in it...u wont allow it to be failed right?
tzxsean
post May 17 2012, 06:47 PM

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tips - the reason why many ppl fail in acca
tzxsean
post May 18 2012, 06:59 PM

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QUOTE(SereneAshley @ May 18 2012, 04:06 PM)
Yea, i'll be doing the same thing as u for revision. Law just has too many things to memorise,gotta remember the case, some more got so many names... sweat.gif

And yea, my lecturer did teach partnership,why?Is it a focus for this sitting? I forgot but are we allowed to write our answers in point form?


Added on May 18, 2012, 4:08 pm

Lol get off your high horse la...i do not advocate just relying on tips alone but giving students the important chapters to focus on helps a lot. I find it strange how u say this but assert that somehow ''luck'' plays a huge part in whether u pass the paper.
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not strange at all

by focusing more on some important chapters and lesser care to those not so important chapters

examiner can easily catch all students off guard if he really want to fail you all

i myself had tried this b4 ... not focusing on linear progression on f5 since it came out last sitting

oso did not revise on ABC as it was asked as well

when i flip the question booklet and saw both ABC and linear progression...I was stunned

however, "luck" did side me as I managed to get 51 ...so close to fail

thats why I emphasis on better not knowing the tips and rather revise all

and the luck I mentioned..apart from "preparation meets luck" from another forumer ...

it's the luck u got the questions u liked, have confident... rather than the questions spotted by lecturers but you're not really good with it... or u're not good with it but u have some luck to get 50% of the total marks smile.gif

when u noe tips...u will tend to focus more and lost some care for others no matter how u argue

im not trying to stand on high ground and menegur u all

i was rushing for time so i leave short reply... if not i will type long posts smile.gif


Added on May 18, 2012, 7:00 pmp/s: by revising all ... u can at least get 50% from all questions eventually (theoretically) rather than hoping to get 50% from those important chapters alone

This post has been edited by tzxsean: May 18 2012, 07:00 PM
tzxsean
post May 19 2012, 12:25 AM

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QUOTE(caillech @ May 19 2012, 12:12 AM)
lol how can u compare spm with acca?  doh.gif

it's totally different  laugh.gif
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maybe he's genius flex.gif

anyway good luck with preparation u guys
tzxsean
post May 19 2012, 12:48 AM

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QUOTE(SereneAshley @ May 19 2012, 12:29 AM)
Very solid advice there  rclxms.gif  notworthy.gif 

But the truth is, acca syllabus is really huge. To study every chapter and continuously pay attention takes really serious dedication.

I'm not even sure if there's enough time now to revise all the chapters and manage to retain everything for the exam. Thats why ask for tips for important chapters. Haiz...sucks to be an acca student T.T
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hehe

if u really pay attention during lecture..it wont be a problem

revise using past years is the quickest way if u really dun have time left

my way of revision for multiple papers:


example u taking p7 p5 and p2 all different dates but have some revision time in between

i will just revise p2 n p5 1st and leave p7 the last..but longest time for duration of the revision

so that u can totally focus on p7 until it is over

and when u need to revise p2 n p5..u can do it faster in shorter period

since u have revised b4 ...


tzxsean
post May 19 2012, 01:45 AM

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usefulness of the the tips can only be assessed after exam

unless you're a prophet thou

This post has been edited by tzxsean: May 19 2012, 01:52 AM
tzxsean
post May 19 2012, 01:52 AM

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QUOTE(VijayHari @ May 19 2012, 01:48 AM)
Prophet ? I didnt know they hand out exam tips nowadays.
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then how do you choose which tips to be relied on since there are so many sources of them

bpp

kaplan

open tuition

lecturers of different places
tzxsean
post May 19 2012, 02:02 AM

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QUOTE(VijayHari @ May 19 2012, 01:59 AM)
Excellent question. Except that I never said that we should rely on tips. All I said was tips can be used to complement your exam preparation. Relying totally on tips would be an unintelligent move.
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it's the same actually....

it's how are u going to pick which 1 u going to be used to complement ur preparation

since there are so many tips..which can cover as wide as whole syllabus if compare as a whole

unless all tips point to one thing...

at the end of day ... it's just easier to read all and not having to fear u miss out any

which is better preparation method after all

This post has been edited by tzxsean: May 19 2012, 02:06 AM
tzxsean
post May 19 2012, 02:11 AM

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instead of hoping, you can decide ur destiny by urself

good night
tzxsean
post May 19 2012, 05:57 PM

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as far as I'm concerned...passing rate of P6 increased since the change of examiner


Added on May 19, 2012, 6:05 pmand oh yea im taking p6 after failing p7 during 1st attempt

in addition..im exempted for f6 as well

the only disadv is u might not noe well about personal tax, partnership and etc

which may ask in a small part in p6 ...

for me..so far so good in p6...but i'll have to work harder on f6 syllabus when I start my revision

This post has been edited by tzxsean: May 19 2012, 06:05 PM
tzxsean
post May 21 2012, 09:17 PM

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lets all give up. it's easier this way
tzxsean
post May 25 2012, 08:35 AM

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QUOTE(sukun @ May 25 2012, 12:51 AM)
1. In Aug 09, Hco acquired 80% of Sco 200,000 $1 ordinary share capital. Year end is Dec 09.
At Jan 09, Sco had retained earning of $320k and made profit for the year end Dec 09 of $48k.
Asume profit accrued evenly throughout the year. What are the net assets of Sco at acquisition date?
Assuming acquisition on 1 Aug

(48k x 7/12) + 320k =348k

then 348k+200k=548k


3. Aco sold goods for which it paid $140k to it's subsidiary Bco. Aco charges mark up 40%.
In 2000, Bco sold 80% of the good it purchased from Aco.
How much should be eliminated as unrealised profit from consolidated financial statement?

140k /1.4 x 20% =20


4. Item cost £3k to purchase. cost £300 to get the item ready. plan to sell it for £3.4k. would cost £3.7k to buy similar item of it. draft financial statement valued the inventory at £2.9k. which inventory valuation method is used?

cost (3k) or NRV (3.4k-300), whichever lower

5. In disposal of NCA in cash flow statement prepared using indirect method, is is correct to say profit of disposal on NCA should be deducted and actual proceed received are from investing activities and not from operating activities?

Yes

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This post has been edited by tzxsean: May 25 2012, 09:37 AM
tzxsean
post Jun 10 2012, 12:47 PM

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ok ...i'll have to confess I still watch Euro every night
tzxsean
post Jun 11 2012, 01:03 AM

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QUOTE(neverknowgirl @ Jun 10 2012, 10:29 PM)
How about f7??
Q4 and 5 make me worried
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i will suggest you to familiarise yourself with those key requirement of those standards

after that

go read pyq's Q4&5 and the answer straight away

try to absorb how they answer especially from the flow of explanation of standards and application on the questions


good luck everyone



p/s: the biggest risk of fresh grad entering audit firm (esp big 4) = no life
tzxsean
post Jun 11 2012, 08:00 PM

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so hows p7?
tzxsean
post Jun 11 2012, 08:18 PM

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TQM (Total Quality Management iirc) - a philosophy of zero defects in producing and continuous improvement

p/s: from the very beginning, i was against the idea of dropping one to concentrate solely on one but u might still pass... be positive

This post has been edited by tzxsean: Jun 11 2012, 08:34 PM
tzxsean
post Jun 11 2012, 08:47 PM

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QUOTE(junggle @ Jun 11 2012, 08:39 PM)
I won't regret for dropping out one subject. I regret for dropping F6 instead of F5. lol... gotta take at least 2 extra papers for the next sem.. it's really frustrating i guess... I could say my possibility of passing is almost 0% as the part i'm certain that i'm correct was only the operating statement. the rest. DISASTER!!!!
Yeah. And i still lost the first question calculation part. I combined both the product together for the assessment... I only found it when the time's up!! BIG Disaster for me.
You only screwed over the TQM. i screwed up the whole paper. ==
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it's ur choice thou ...btw I've edited the explanation on TQM ... i was confused but then I found the correct sentence to describe it

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