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Business ACCA V8, Global Body for Professional Accountants

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ken2291
post Apr 25 2012, 06:17 PM

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QUOTE(caillech @ Apr 25 2012, 12:50 AM)
so question 4 in P2 so hard until no one pick before?  hmm.gif
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I did it last sem. It's on IAS18 Revenue. I placed my bet on that because I knew it's IAS18 that'll be examined, ques 3 will kill me if I did it tongue.gif But it's all due to Ms Menon's help. You'll have to know which acc standard is the hot topic for your sitting
ken2291
post Jun 13 2012, 06:26 PM

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QUOTE(tzxsean @ Jun 12 2012, 12:20 PM)
my wishlist for p6's questions

1) MITC
2) RA
3) IHC/RDC/IPC
4) WHT/ DTA ( anyone knows how they going to ask for DTA?)
5) RPGT ( RPC shares / Para 3(b) ) & Stamp Duty
6) Estate / Trust/ Settlement
7) Tax Planning ( trade debtors, inventory, group relief )
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I'm taking P6 too biggrin.gif If DTA's out, they'll probably ask about PE and the benefits of having double tax. That's what I think smile.gif

QUOTE(Barack Obama @ Jun 13 2012, 01:00 AM)
just took f5 yesterday and f6 today.......in another 14 hours gonna take f7....then f4 next week....so far i honestly think i fail f5 and f6. last year already fail f4-6 and if this time fail again all 4 papers i seriously might consider giving up acca sad.gif
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Taking 4 papers is difficult, you have to put in a lot of effort. I've tried that before and seriously one needs to start revision early from the start. Anyway, goodluck!

This post has been edited by ken2291: Jun 13 2012, 06:29 PM
ken2291
post Jun 14 2012, 12:00 AM

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QUOTE(tzxsean @ Jun 13 2012, 08:25 PM)
PE- fixed place where the business is wholly or partly carried on ...incl place of management...branch...workshop...factory and construction site where consistitutes at least 6 months in msia...

Dta- minimize or avoidance of double tax in 2 countries. Provides favorable rate when withholding tax arises for non resident..

I wonder like tat enough or not ..whether i should
Go deeper


Added on June 13, 2012, 8:28 pmI hope no calculation out for dta. S132 ( bilateral relief ) and s133 (unilateral relief ) is confusing enough
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DTA is able to clarify residence status too. Hope they don test calculations for DTA if it's out, coz I never study them sweat.gif
ken2291
post Jun 14 2012, 06:56 PM

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Time management smoked my P5 today cry.gif
ken2291
post Jun 15 2012, 12:05 AM

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QUOTE(nothingz @ Jun 14 2012, 08:58 PM)
not necessarily you will fail.  in my previous attempt, i was very nervous too, time management was not very good but at least you write whatever you can, you can still pass.
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QUOTE(ComingBackSoon @ Jun 14 2012, 11:48 PM)
Today's P5 is another nightmare after P4... The tips were all spot on, performance prism and benchmarking. But the requirement on benchmarking is worded so weirdly! I hope I interpreted it right...

Then the question on Six Sigma, requirement (a) and (b) were so similar to me! What the hell!?

And the best part is I left almost 14 marks blank in Q1 where the requirement is to calculate and evaluate using EVA, MIRR and NPV. Same like you, time management.

This is the first sitting I felt like I really couldn't make it. The optionals are really at a different level from the rest! For the previous papers I was confident I could pass the moment I walk out of the exam hall. Not these 2, shit!!
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Guess what, I'm worse. About 20marks kosong for Q1 and I only did 3 ques, which means 1 whole ques totally kosong. Simply calculate NPV, EVA, MIRR those doh.gif
Oh well, try again next sem unsure.gif

Which do you mean on benchmarking?

This post has been edited by ken2291: Jun 15 2012, 12:17 AM
ken2291
post Jun 15 2012, 10:54 AM

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QUOTE(neverknowgirl @ Jun 15 2012, 01:32 AM)
Guys, for f7

Is there any probabilities that i can pass if

1) I dont answered 2 minor question ( 3 marks and 4 marks)

2) i dont balance all the three questions
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You already said it, it's minor laugh.gif I never balance any adjustments for F7 and P2 but still able to pass them.
Don't worry, you'll be able to pass smile.gif

QUOTE(ComingBackSoon @ Jun 15 2012, 02:12 AM)
The benchmarking question asked something like:

(a)explain the progress of the benchmarking progress to date(wtf?) and explain what has been done, and what has to be improved

(b)as far as possible, evaluate the university's current benchmarked position(wtf?)

I hope I interpreted the question correctly man... If i lose 14 marks in Q1 and I interpreted this question wrongly, I'm dead.

I'll probably join you in December.
Possible, but you better be good at the rest.
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(a) Explain what they've done for benchmarking based on the given info (what they've done, how well they've done it) and what can be added to make the benchmark exercise more meaningful

(b) Just see hw's the university doing

My 2cents biggrin.gif

QUOTE(Binaryteo @ Jun 15 2012, 09:44 AM)
I never felt this anxious and nervous before in ACCA exam, P6 is the first paper to make me worry lol.

Good luck comrades, hope we shall prevail !!!
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Goodluck to you too!!
ken2291
post Jun 15 2012, 12:02 PM

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QUOTE(noonies_naruto @ Jun 15 2012, 11:00 AM)
P5 fuuuuuu...
Gilebabi i tell u... So many perf measure.. Last sitting was a whole lot easier!!!!

Regret not trying to understand what gets measuted gets done.. Altho it had always been such a pain in the arse
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Actually I find the question quite easy, just that my time management sucks.

QUOTE(tzxsean @ Jun 15 2012, 11:00 AM)
okok...should be discussing for P6 right now~
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lol.. Any important topics which I must look at now?
ken2291
post Jun 15 2012, 12:05 PM

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QUOTE(tzxsean @ Jun 15 2012, 12:04 PM)
i have no idea~
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ok blush.gif Goodluck later smile.gif
ken2291
post Jun 15 2012, 07:16 PM

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QUOTE(nick67 @ Jun 15 2012, 04:59 PM)
Freaking worried for p2 right now man..
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Who's your lecturer?

QUOTE(ComingBackSoon @ Jun 15 2012, 06:08 PM)
Hahaha, you meant the topics examined and the scenarios are easy. The requirements?  doh.gif
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This examiner's way of asking is more complicated than the previous. But I can still answer Q2 and Q3.
But too bad my time management sucks, if not I'd have passed. Goodluck to you! Hope you'll pass!
I'll try again this Dec tongue.gif

btw, P6 today is much better although I did sth wrong in Q1 too. Q2 dunno what's that. lol.. At least am able to attempt all questions smile.gif

This post has been edited by ken2291: Jun 15 2012, 07:26 PM
ken2291
post Jun 15 2012, 07:33 PM

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QUOTE(nick67 @ Jun 15 2012, 07:29 PM)
Ms Menon.
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Haha, I'm waiting for you to say that. Don't worry, you'll pass. Just follow her method of doing conso, and study whatever she asks you guys to. Especially the Q4 recent issues. She never miss her tips smile.gif

This post has been edited by ken2291: Jun 15 2012, 07:39 PM
ken2291
post Jun 15 2012, 07:46 PM

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QUOTE(keeting89 @ Jun 15 2012, 07:41 PM)
So for p2,  are ur study all sofp soci and socf?
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I studied SOFP and SOCI only that time. (cause Menon din say SOCF) tongue.gif
There're different types of conso, she even spotted which type.
The way of doing conso is the most important, as that will saves you a lot of time + give you marks.
My IAS is weak. That's why I dunno how to adjust and comment on other ques's IAS. so I focussed on conso and the current issue Ms. Menon said, and another reconstruction (I think). Luck's with me and I passed biggrin.gif
Current issues is an easy area to score provided you know what the current issue is about

This post has been edited by ken2291: Jun 15 2012, 07:51 PM
ken2291
post Jun 15 2012, 08:02 PM

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QUOTE(nick67 @ Jun 15 2012, 07:58 PM)
So apparently my senior told me just memorize her mock should be enough to pass? I find it quite hard to believe but he insisted that even the group adjustments were the same as finals but diff figures of course..
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I don't remember about her mock as I never pay attention to progress tests and mocks biggrin.gif
The thing I can safely say is make sure you study everything she mentioned.
My senior told me that too and I'm quite skeptical about it until I see the exam questions laugh.gif

What she said in class laugh.gif
QUOTE(Ms. Menon)
I have a good record of 10 years for not missing my tips


This post has been edited by ken2291: Jun 15 2012, 08:04 PM
ken2291
post Jun 15 2012, 11:05 PM

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QUOTE(tzxsean @ Jun 15 2012, 08:21 PM)
Seriously been brutally f***ed upside down by p6

1st of all...only around 15% for calculation?

Q1 (ii) totally gone and Q2 (i)&(ii)

Q3 is fine

Q4 i just screwed it up completely... Said mr a income not liable for msia tax and fpc has pe in msia
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P papers emphasise more on theories and writing.
But nonetheless I screwed up Q2 too, totally no idea what to write. Q1 (ii) too, sigh..

Q4 Income of Mr. A, does Para 28, Sch 6 apply here? hmm.gif

QUOTE(tzxsean @ Jun 15 2012, 10:49 PM)
I could even not bring calculator to p6 today and still calculate them in the answer booklet
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+1 Really. Not doing any calculations can also pass if you know those theories. P6 really "lack" calculations this time sweat.gif

This post has been edited by ken2291: Jun 15 2012, 11:06 PM
ken2291
post Jun 15 2012, 11:11 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:07 PM)
of course P papers consists mainly of theory

but im still abit shocked by the calculation marks allocated there ... might not even more than 10 marks u noe

for q1 n 2 ...

para 28,sch 6 ..totally no remember..nvr take f6 ..i just simply shoot not subject to tax unless he is independent agent work for FPC ...

btw FPC no PE in msia right? I said got PE..even thou he canot conclude contract but still responsible for major part of the work
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Yeah, it's like going for P1, all theories, LOL..

I wrote subject to tax because he exercised employment in Msia, forgot those derivation doh.gif

FPC no PE because although Mr. A is FPC's agent, his duties are mainly auxillary and unable to conclude contracts on behalf of FPC.
ken2291
post Jun 15 2012, 11:16 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:14 PM)
i not sure subject to tax or not ... but i simply shoot with no substance...probably no marks as well

yea...the PE...vested authority to conclude them and regular exercise the authority ...

i just couldnt remember it ...

i tot it's "or" condition for agency PE

cos i remember the regularly acts on behalf..which he clearly did ...

btw q3....(1) and (2)..like abit overlap ...and abit too much mark for the things that we can write no?  wink.gif
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The two papers I sat this sem are really disasters.. sad.gif

What's Q3(i) and (ii)? I forgot blush.gif
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post Jun 15 2012, 11:25 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:18 PM)
(i)why constitutes settlement and what is the significance

and (ii) how rental income should be treated
looks like abit overlapped
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(i) I wrote what settlement is about, ie. transfer of asset/income. Normally an individual with a higher tax bracket attempts to transfer his income to another who has a lower tax bracket to avoid tax
This is why anti-avoidance provision of S.65 comes into place to tackle this issue.
A settlement is only caught if:
1. the transfer is of no valuable consideration
2. the transfer is voluntary (not a result of court order)

But I still find the marks allocated to it a bit high

(ii)explains the deeming provision S.65(1) the unmarried, 21 years old, single thingy.
how it applies to the scenario, state on who and how shld the income be taxed wink.gif
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post Jun 15 2012, 11:29 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:28 PM)
s65(1)

settlement - if relative unmarried and under 21 y/o at beginning of year
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Yeah, now I remember.. 21 years old must be at the beginning of the year. That's where I made my mistake
ken2291
post Jun 15 2012, 11:41 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:31 PM)
not sure if need to compute..the marks seems too high for the explanation required

but all they ask is just to explain...overlapped with the significance of the income on part (i)

rpgt part oso ..marks are abit high
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I think have to state how much is assessed for each of them under YA 2011 and 2012.
Because the marks allocated are a bit high, nothing more can be written.
Overall Q2 is the one killling
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post Jun 15 2012, 11:46 PM

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QUOTE(tzxsean @ Jun 15 2012, 11:43 PM)
oh ... both oso same wad right?

rm60k per annum

but for Mr Grandpa abit tricky ... as I wrote 11 months income will be deemed to his..since he transferred on 1st feb...

not sure if marker will understand wad i mean... the jan rental surely belongs to him ... but the remaining 11 months will be deemed his as the provision applied on that date (1st feb 2011)
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Yeah, I was wrong on that. I wrote RM55,000 for Niki sweat.gif
Since you've written RM60,000 the marker will understand I guess biggrin.gif
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post Jun 15 2012, 11:55 PM

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QUOTE(junggle @ Jun 15 2012, 11:52 PM)
I didn't cover some areas as my lecturer told us they are not important anymore and now i am scared that they might come out after i attended my F5 sitting, where all the things my lecturer said was not important came out altogether T.T
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That's what happened to me for F4. It asked a basic question in Q1, forgot what it is. Totally screwed lots of students + the other questions which were super tough

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