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 ACCA (V4), Accountants

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Alex_iz
post Nov 22 2008, 08:46 PM

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Hi, anybody attend philip Woo F8 revision and Andrew Phang F9 revision? can post the tips here? Thanks ya


Added on November 22, 2008, 8:48 pmAnd anyone attend FTMS Fung Chee Kong F8 revision, can share his tips here? Thanks.

This post has been edited by Alex_iz: Nov 22 2008, 08:48 PM
TSThanatosSwiftfire
post Nov 22 2008, 09:18 PM

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well, i don't think i need to say that it's a broad generalization, thus there's always exceptions? (please, read everything before commenting, thank you.)
karhoe
post Nov 23 2008, 12:56 AM

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QUOTE(carlosandy @ Nov 20 2008, 11:05 PM)
You can write whatever college your study and according to my working experience, nobody will interest where are you study once you are grad ACCA. I can tell you also once you work for few year, the boss only interest to know what you can contribute to their co, but not SUNWAY STUDENT.

But what I know was every year Big 4 will get new employee due to their senior leaving. Basically all these boss will only know Sunway due to their good relationship with Sunway boss. But they just give chance to Sunway student doesn't mean Sunway student can enter to Big 4 easy. Everything is depend on the Audit Manager.

If the Audit Manager accept you b'cos of only you are the Sunway Student, I can said he won't be a good superior. You no need to hope can learn anything from him cos he only see Sunway student but doesn't make good judgement whether you are good staff or not.

I disagree Sunway will be 1st choice for ACCA student. For choose college, it is depend on what you want. If want good study environment then choose Sunway, but must accept their inexperience lecturer. If you want experience lecturer, then choose KSA/MCO, but have to accept their study environment. There is no perfect in the world.

A lot of full time student study in low standard college KSA, MCO, SEGI, but oso can grad within 3 years. Means that good student go to where also can study, not neccesary need good study environment.

Lastly, I totally disagree Sunway ACCA student CV got more value than KSA/MCO ACCA student CV. I also never heard when boss know you are Sunway ACCA student, then will got more chance. TOTALLY STUPID.........
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Do you have anything to say against TARC ACCA lecturers then?

QUOTE
If the Audit Manager accept you b'cos of only you are the Sunway Student, I can said he won't be a good superior. You no need to hope can learn anything from him cos he only see Sunway student but doesn't make good judgement whether you are good staff or not.


See, you are jumping to conclusions, and it seriously shows that you have something personal against Sunway or Sunway students.
carlosandy
post Nov 23 2008, 01:39 AM

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QUOTE(karhoe @ Nov 23 2008, 12:56 AM)
Do you have anything to say against TARC ACCA lecturers then?
See, you are jumping to conclusions, and it seriously shows that you have something personal against Sunway or Sunway students.
*
My conclusion very simple, every ACCA student grad also same, there is no such thing say "Sunway ACCA student got more value in their CV".

For TARC lecturer, I can say a lot of it also inexperience due to TARC don't want to pay high salary to employe experience lecturer, but their student exempt part 1 & part 2 exam. In Prof level paper, a lot of TARC student go to KL college for add tuition or revision class.

And we already close arguement since yesterday, please do not bring it up again. I'm very disappointed you still want to bring it to argue.

But I need to tell you something, since you still new to ACCA, please don't simply make conclusion say Sunway very good place to study ACCA. Everything oso good and bad, no perfect in the world.

This post has been edited by carlosandy: Nov 23 2008, 01:40 AM
karhoe
post Nov 23 2008, 01:50 AM

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QUOTE(carlosandy @ Nov 23 2008, 01:39 AM)
My conclusion very simple, every ACCA student grad also same, there is no such thing say "Sunway ACCA student got more value in their CV".

For TARC lecturer, I can say a lot of it also inexperience due to TARC don't want to pay high salary to employe experience lecturer, but their student exempt part 1 & part 2 exam. In Prof level paper, a lot of TARC student go to KL college for add tuition or revision class.

And we already close arguement since yesterday, please do not bring it up again. I'm very disappointed you still want to bring it to argue.

But I need to tell you something, since you still new to ACCA, please don't simply make conclusion say Sunway very good place to study ACCA. Everything oso good and bad, no perfect in the world.
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Excuse me, I'm not planning to argue about it here, it was supposed to be over long ago till you brought it up.

Since WHEN I made conclusion saying that Sunway is very good place to study ACCA? I did not say it before, but now I will say it, that I have made my choice that I will study in Sunway because I would prefer to have good study environment, I love to ask a lot of questions and I have read somewhere that students get told off by their classmates for asking too much questions.

I don't want to generalize, but it seems like students from KL colleges see Sunway students as spoilt rich brats who have alot of money to study in Sunway, pay so much $$$ but yet get inexperienced lecturers, is that how you KL colleges students (or ex-students) look at Sunway students?

This post has been edited by karhoe: Nov 23 2008, 01:51 AM
carlosandy
post Nov 23 2008, 01:55 AM

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QUOTE(karhoe @ Nov 23 2008, 01:50 AM)
Excuse me, I'm not planning to argue about it here, it was supposed to be over long ago till you brought it up.

Since WHEN I made conclusion saying that Sunway is very good place to study ACCA? I did not say it before, but now I will say it, that I have made my choice that I will study in Sunway because I would prefer to have good study environment, I love to ask a lot of questions and I have read somewhere that students get told off by their classmates for asking too much questions.

I don't want to generalize, but it seems like students from KL colleges see Sunway students as spoilt rich brats who have alot of money to study in Sunway, pay so much $$$ but yet get inexperienced lecturers, is that how you KL colleges students (or ex-students) look at Sunway students?
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Arguement already close and this thing is irrelevant for your study since you decide to choose Sunway. I won't be answer you any question for this case again.

But if you think Sunway lecturer really very good, then please don't ask me anything regarding KL lecturer in future.

This post has been edited by carlosandy: Nov 23 2008, 01:58 AM
karhoe
post Nov 23 2008, 02:00 AM

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QUOTE(carlosandy @ Nov 23 2008, 01:55 AM)
Arguement already close and this thing is irrelevant for your study since you decide to choose Sunway. I won't be answer you any question for this case again.

But if you think Sunway lecturer really very good, then please don't ask me anything regarding KL lecturer in future.
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Don't worry I won't whistling.gif
HBK-reloaded
post Nov 23 2008, 02:33 AM

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QUOTE(karhoe @ Nov 23 2008, 02:00 AM)
Don't worry I won't  whistling.gif
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people..exam is just around the corner,and yet still arguing bout the most best study environment,as i remember many past sitting ago, this is the time where candidates will talk about exam preparation..etc,which anything relate to exam..if wanna talk bout college,later lor,after exam,coz on such time,many candidates start to choosing where to study..but i think with all arguments and constructive critiques thread here no need to argue which is the best in future..only specify which lecturer is at which college(afraid they might jump here and there without us knowing it)
owenwong84
post Nov 23 2008, 02:53 AM

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stop loh...
Where is the tips ??? why no one provide?
limshenghong
post Nov 23 2008, 06:18 AM

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Anyone hv BPP spots for dec 2008? icon_idea.gif
Cloudeu
post Nov 23 2008, 08:55 AM

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Update of tips XD

From opentuiton
QUOTE
Tips for ACCA F1 - F3

No exam tips available - Multiple choice questions cover entire syllabus
Tips for ACCA F4 Corporate and Business Law (Eng)

There are fourteen of them even though there are only ten questions.

The number's in brackets behind the topic are the question numbers from the BPP revision kit.

              1. Judicial precedent / delegated legislation ( 4, 7, 8 )
              2. Terms, conditions, warranties, innominates ( 22 )
              3. Redundancy ( 41, 42 )
              4. Consideration ( 19, 20 )
              5. Exclusion clauses ( 24 )
              6. Breach ( 28, 29 )
              7. Tort and auditor negligence ( 35, 36 )
              8. Partnership compared with limited company ( 52, 53 )
              9. Company names ( 65 )
              10. Capital terms ( 68 )
              11. Meetings and resolutions ( 78, 79 )
              12. Statutory duties of directors ( 83 )
              13. Corporate governance and directors ( 95 )
              14. Money laundering ( 100 )


Tips for ACCA Paper F5 "Performance Management"

                Question 1

                Budgets / Learning curves

                Question 2

                Decision making under uncertainty (maximin etc..)

                Question 3

                Mix & Yield variances

                Question 4

                Financial ratios / Non-financial performance measures / transfer
                pricing


Tips for ACCA Paper F6 "Taxation" (UK)

F6 is very predictable so no tips as such



Practise as many exam standard questions as you can.


Make sure you do to time. After the 15 minute reading time you have 1.8 minutes per mark. If a question is split between part (a) 10 marks and part (b) 10 marks then only spend 18 minutes on part (a) and then move on to part (b).


Look at all the requirements of the question, can you answer an easy parts first, for example one part maybe standalone and on something very straightforward, so do this part first
You do not have to answer the questions in the order they are set, if question 5 is the easiest do this one first.

Question 3 will be the hardest so leave this until last but make sure you leave 36 minutes to answer it.
Do not panic if you can’t remember something in a question, don’t spend too much time trying to remember it, have a go or even guess. Then you can move on to other parts of the question.



Above all you need 50% to pass, so find the marks you can do. There will always be more than 50% of the question which is examining core areas of the syllabus, only a few marks will be fringe areas, but you do not have to worry about these as you can find the 50 marks you need to pass

Tips for ACCA F7 Financial Reporting (INT)

Question 1

Consolidation, probably Statement of Financial Position, with subsidiary
( full year ) and Associate ( part year )

Question 2

Preparation of financial statements from a trial balance or draft set of
accounts with 6 or 7 adjustments to make - beware the accrued loan interest

Question 3

Cash flow, with or without an interpretation section. Probably with
interpretation so ....a relatively straight-forward cash flow for ( say ) 12
marks and a report interpreting the results for 13 marks

Question 4

15 marker on some lesser examined topic. Construction contracts would be
my guess - but it could be anything - EPS, Leases, Contingencies and
provisions ..... )

Question 5

Could be absolutely anything! Any part of the question Mrs Harper from
the BPP revision kit would be a good Q5 - or part (b) of Q5


Tips for ACCA Paper F8 Audit and Assurance (INT)

30 Mark question:

The audit of non-current assets, including final audit work and expected internal controls.



10 Mark question:

Audit risk or audit committee.



20 Mark questions (3):

CAAT/sampling Audit reports

Letter of representation,

Post balance sheet events,

Liabilities and contingencies.

Tips for ACCA Paper F9 "Financial Management"

Question 1

Foreign exchange:
Forecasting exchange rate
Managing risk (forward rates / money markets)

Question 2

WACC calculation / discussion of ways of raising finance

Question 3

Receivables management / cash management - Miller Orr

Question 4

Capital Rationing / discussion of limitations

Tips for ACCA P1 Professional Accountant

Coming soon

Tips for ACCA P2 Corporate Reporting (INT)

Question 1

Consolidated Cash Flow Statement
Question 2

Shares and share based payment schemes
Question 3
Deferred tax
Question 4
Various IAS/IFRS question (4 or 5 accounting problems to comment on)


Tips for ACCA Paper P3 Business Analysis

Part A - 50 mark case study
Position analysis (5 forces, PESTEL, generic strategies etc).
Foreign expansion/globalisation/convergence.



    * Part B – 2 from 3 25 mark questions
      • Business process change and quality – DMAIC, CMMI. Value chain. (See September article in Student Accountant). Commoditisation of business processes and outsourcing.
      • Quality of software (V model). Relationship marketing. E-business evolution.
      • Corporate structure – divisionalisation, matrix, decentralisation.

Tips for ACCA Paper P5 Advanced Performance Management

Coming soon

Tips for ACCA P7 Advanced Audit and Assurance (INT)

Question 1

Audit risk / Fin statement risk
Question 2

Forensic accounting (Student Sept 08) Q53
(Ethical and professional issues)?
Question 3
Audit reports
Question 4

Comment on matters requiring consideration + State the audit evidence you should expect to find

Question 5
Audit work on suspected fraud (q27 Indigo)
BTW, anyone has tips from lecturers in KL?
karhoe
post Nov 23 2008, 01:46 PM

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Guys I want to ask, I thought of this while revising T8 Audit paper.

Departure from accounting standards is allowed if it reflects the truth and fairness of the FS in a better way.

Any example of such departures?
TSThanatosSwiftfire
post Nov 23 2008, 02:35 PM

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generally, that happens in the case of very specific industires, where the nature of the business means applying standards will lead to rather distorted figures..

i've so far not heard of any, but it's possible to speculate in the case where perhaps the use of fair value as a measure of value is invalid in the case of IAS39 financial instruments. (aka stock market bubble etc, where the market price doesn't reflect the fundamental value of the stock) (i'm speculating)

but usually, if there was a problem, they'd probably come out with a standard, and if they didn't US GAAP would've covered it.


Raymond_ACCA
post Nov 23 2008, 06:02 PM

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Another example - A 5 star hotel who maintain their hotel extremely well, incurred huge amount of expenditure for maintenance. Their decision was not to depreciate their building, as they argued that the expense of maintenance cost already reflects the true and fair view of the f/s.

Thus, they didnt need to follow IAS 16,( by depreciating, then revalue the property upwards again ).

karhoe
post Nov 23 2008, 06:06 PM

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QUOTE(Raymond_ACCA @ Nov 23 2008, 06:02 PM)
Another example - A 5 star hotel who maintain their hotel extremely well, incurred huge amount of expenditure for maintenance. Their decision was not to depreciate their building, as they argued that the expense of maintenance cost already reflects the true and fair view of the f/s.

Thus, they didnt need to follow IAS 16,( by depreciating, then revalue the property upwards again ).
*
Ah, I remembered that example in Kaplan T8 book, thanks !
Topace111
post Nov 23 2008, 06:43 PM

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To secure employment in any firm / organisation depends on your performance in interview.
If your interviewer is lenient & not strict so you have better chance (maybe the job required is pretty insignificant)
If your interviewer is very strict & cunning (they will disguise their question to test whether you respond to question asked or just simply memorising)
There are plenty of evidence & example to suggest even an empty shell secured an employement bcos he can talk like Obama / anwar.

Qualification / experience only secured the interview apllication not the job itself, that's why some get over confident & get careless.
For example a boss may ask you something as easy as "Are you flexible ?" :
You may said :
1) I am totally inflexible & i will follow the rules strictly & will not tolerate any incompetence & inefficiencies.
OR
2) I am very flexible & change according to environment permits & i can communicate well with my prospective team members.

There are no correct answer of course, it depends on what the interviewer wants actually. If your personality doesn't suit with the job then you are out. Just don't take things too personal if get rejected ( a blessing in disguise perhaps)
soul_project
post Nov 24 2008, 01:26 AM

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any1 hv bpp tips ?
pristina
post Nov 24 2008, 05:45 AM

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i thinking to move [personal reason] from my hometown to continue my ACCA.
ever chosed to stay in KL. but that will be stated in SG. anyone agree to stay in a stressfull place like SG is better then hometown?

This post has been edited by pristina: Nov 24 2008, 05:46 AM
-= Virgil =-
post Nov 24 2008, 01:19 PM

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Anybody have any issues/topic on current issues for P7 AAA?

All help appreciated.
moon yuen
post Nov 24 2008, 01:48 PM

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Wan to ask, Conso Income Statement

MI (Minority Interest)

Preference Dividend (10 X 70%) = 7

Profit after tax RM 50
-minus : Preference dividend (RM 10)
TOTAL 40 @ 20% = 8

So, all together are 15.

Wan to ask, why need to minus Preference Dividend ? And do not minus Ordinary dividend ?


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