I'm kinda stressed so go online few minutes after hours of study. Next week onwards I will be mostly unavailable too. Now is nearing exam time so I think most will be studying.
If you study acca in uk it should be easier & more relaxable since the lecturers there are "quite close to the source" & the fact that all of the examiners are residing there.

I don't think you will be coming back to MYS after enjoying some stint in Uk. Some of my current classmates have already set their sight on leaving MYS for Singapore (relatives factor is also important)

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Added on May 16, 2009, 10:26 pmYou have my utmost respect for endurance

This post has been edited by Topace111: May 16 2009, 10:26 PM

Its the examiner favourite style of asking P1 question.
It means write BOTH sides of the answer lo.
It can either be :
1) Agree with the statement and disagree with the statement
2) Advantages and disadvantages

This post has been edited by Topace111: May 18 2009, 09:36 PM

Most of the time will be "evaluate" or "assess".
Examiner roughly ask for "criticise" since it will become rather straightforward for student to answer. The higher level you progressed the less direct the question will be. The reason bcos examiner want to know how much the student can assess the whole scenario.
If they do only ask "criticise" or "support" only then you need to elaborate more since examiner has been very clear with requirement.

Check Pilot paper to see his style.
Sometimes some student fail not bcos of their own incapability but their method of answering question is different from examiner preferred style.
F8 examiner likes table & columns. P3 examiner likes numbering / sequencing. P1 examiner likes student to point out all general pointers before moving to application. These small details can easily determine one's fate in exam.

I think the question will clearly state which tax rate to be used.
I don't think examiner will penalise student for that. I think if they silent on it you can just state your assumption clearly.

The best way to highlight is to use past year as reference. For June 08 exam they still take 07 rate as 27% instead of 08 rate of 26%.

Cash guarantee cannot unless Govt is bankrupt or country at war (but forex is not part of P2 that much)
Receivable can be "impaired" but we provide allowance of doubtful debts or bad debts for it.
No impairment of any kind for any kind of liabilities since its not our duty to measure our debts to other people.

So what is your take on self-studying for core papers ?

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Added on May 24, 2009, 6:35 pmDaniel Ho will be my most likely bet of going soon. Just finished double period today & exam less than a week away.
If you check acca magazine there is even tuition provider for acca courses in carribean island.
Ex-FTMS lecturer does have some foreign exposure in their acca lectures.

I manage to study under his last & only F% batch in FTMS before leaving for Mco. He is quite decent but seeing how you constantly quote that haneef is boring I think you will find Chow will fall under the same category

This post has been edited by Topace111: May 24 2009, 06:35 PM

If still married from any date of 1 Jan to 31 Dec then can get spouse relief even when separated or spouse died.
No apportionment is needed for relief since its flat RM 3000 not max Rm3000.

1) If disposed in same year : your BA / BC will be restricted to the allowances claimed (Ie : IA of 20%). Since DG will apply for drawback if disposed within 2 years you cannot claim any allowances at all so you will compare QPE with DV. Should include BA & BC. Its bcos if you did not claim allowance & you get a BC of 30k then you will be taxed at 0 since restricted to allowances claimed which is also 0.

2) Transfer pricing applies when the subject of "control" exist which is 50%. Branch is normally included part of company operations (unless proven or stated otherwise) so CT applies by taking MV.

3) My P6 interest restriction is different from F6 so I cannot really comment here.

4) Subsequent renewal loan is revenue expenditure so its deductible along with incidental cost (Ie : legal fees)

5) If main purpose is for employees it is then assumed entertainment foremployee (even supplier also attend). However if they clearly separated the 2 exp or divided it into ratio the supplier entertainment is only 50% deductible.

6) Joint assessment will combine both husband & wife income at Total income. Before that you need to calculate them in 2 column then combine them at total income.

This post has been edited by Topace111: May 30 2009, 11:04 AM

Find the IPC, RDC & OHQ article, somewhere in april.

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Added on May 31, 2009, 3:47 pmIf your first choice is acca then take cat-acca route.
If you want a degree first then it your own choice on how to pursue it.
For accounting profession its wise to have professional qualification instead of degree alone since global recognition is more widely regarded compared to degree. For course like law degree will suffice but need to apply for their own profession license. Thats why for law graduates they can only practice in their own country but accountant can practice anywhere even in foreign country.

When you want to find job you will face stiff competition since you will compete with other graduates for a position unless you have considerable work experience. Having professional qualifcation like acca give you a slight edge in terms of qualification hold. Other areas irrespective of your qualification can be your communication skills, charisma, contacts, capability,.....etc.

Accounting gives a strong foundation & versatility in penetrating other field as well which includes accouting firms, audit & taxation firms, investment firm, banking......etc. If you have degree wou will be measured based on your CGPA but acca grades student based on markings. It gives employer a transparent view on acca student performance compared to degree (that is on the assumption that you have never failed b4 or have good grades)

This post has been edited by Topace111: May 31 2009, 03:47 PM

Just came back from P6 exam, my opinion :
Qs 1 : Trust & Settlement (30 m)
Since examiner has released an article & it test everything about trust for 30 marks from residence status of trust body to the beneficiaries income.
A very thorough question. Not that very difficult but needs to write a lot & need a lot workings to support answer.

Qs 2 : Group relief. (38 m)
I dont trust my lecturer spot on this & lucky I read something about it
I think this area really eludes many people as it was never tested & there is no hint whatsoever from examiner. From other friends comment about their lecturer its the same prediction too. Its bcos there is really nothing much to test about it. But the examiner manage to combine from other area as well.
First section 13 marks touch all about group relief tax rule.
Next 25 marks touch on effects of not claiming c.a, deferring patents cost, deferring cap exp (got RA)

Qs 1 & 2 required to write letter, report & a briefing note (what the hell is the last one ???)

Optional
Qs 3 : Mining exp (never thought they come out also) so never do since its optional.
Qs 4 : OHQ (this is what everyone spot will come out but only 16 marks & quite a lot in definition)
Question is very tricky & I almost fell into the trap if I never read the article this morning. They asked about exemption but they got a rule in article that if op exp less than 1.5m cannot claim at all so I think thats almost it. But I think still need to compute but just highlight in the end it cannot.

Qs 5 : Test of F6 admin 16 marks & something about service tax.

Judging that examiner released everything in article & then released other very unexpected topic, better prepared for finance this thursday. Got around 4 -5 articles though compared to 2 of tax.

Good luck to everyone else

Whoa finally came back from P4 exam.
After discussing with friends it seems this paper is very hard, way harder than all the past sitting I think.

Qs 1 (28 marks)
Question starts on investment appraisal (favourite topic of all lower level finance student due to simplicity & straight forwardness)
A) 14m : Do NPV which is straightforward but start backward like corporate tax which starts from net profit.
Qs is ok but i'm not sure about the post tax cashflow. I regrossed the CF then add the stuffs. Another way is straight do then regrossed total. Not sure which. Then ask sensitivity analysis, no time just simply do the theory.

B) Ask discounted payback & duration phase : quite straightforward
C) Comment on acceptability of project based on existing 3 technic. Then comment on other technics. I simply gave IRR, MIRR & VAR.

Review : Should be ok & none of my friends mentioned about this qs yet.

Qs 2 (32 marks)
This is the bombshell since its core.
A) Start asking about selling off assets to do repay debt with 2 option : net reinvestment in NCA & shares buyback.
I just simply redo the entire F/S but a bit confused on the shares buyback since its not enough to purchase all & buyback at MV & there is no premium to highlight it.

B) WACC of both option : I think can do but not sure which is which (change in credit rating , gearing affect beta, coupon rate vs mkt interest)
C) Comment on the 2 option viability : average

Qs 3) Forex currency swap.
A) I really don't know how to present final answer but I got all the workings
B) Comment on adv & disadv of the swap. Quite ok can still bluff.

Qs 4) Memo
Quite ok since its pretty straightforward on bribery, insider trading, negligence & some law problem on patents.

Qs 5) More like P5 stuff since it ask priority of investment based on NPV & IRR. Then calculate interest rate. Never do this one. I spend 5 minute there whether to do Qs 3 or Qs 5 since both also clueless

Special note : They release more than 3 articles for P4 & none was even mentioned in finance but in tax they test all the articles they released.
Overall the question asked is very different from all the previous sittting so the difficulty part is quite subjective to different lecturers. Some lecturers always said the question is easy to scare students or to gloat, while others will always said the question is hard so student take nothing for granted.

Finally finished all paper now just wait for result, good luck with the rest of you guys.
Last note : Finance is the most difficult paper in all acca I have ever attempted & even if you ask other lecturers they will said so too. So becareful when choose this paper for optional if you want to pass but its deadly useful if you wish to enter banking one day.

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Added on June 4, 2009, 9:00 pmRedesign is small scale while reengineering is large scale overhaul. Use the dramatic change for the word engineering which examiner constantly uses. Examples :
Redesign : Imagine Coca-cola & Vanilla coke
Reengineering : Imagine PS2 larger version with the slimmer version or Proton Wira & Proton Satria.

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Added on June 4, 2009, 9:05 pmACCA have 3 major parts & only by passing them all you will have a full cert to be called acca affiliate.
You can take MBA with ACCA & no people will care how many proffesional qualification you have.
The most important is to PAY THE MEMBERSHIP FEES then everything its ok with respective body.

Finish you marketing degree first b4 considering jumping around. There is possibility while doing acca or MBA you encountered other interest than hop to another programme then you are forever stuck with no qualifications.

This post has been edited by Topace111: Jun 4 2009, 09:05 PM

Not to sure about it since the qs itself split into 3 component. Which one you are referring to ?
For first one I'm any answer is possible
For 2nd one, its normal to list Ve, Vd, Ke & Kd (1 - T) so maybe some format marks.
For 3rd one : comment not to sure.
The answer itself required answer on 2 options so again its hard to determine since I have not seen too much of these qs around.
Anyway we will not know until we get our result. No point scaring ourself to death or getting overconfident.

But from Past year standard its very hard to gain full marks for calculations in finance compared to theory.

Explain on 4 key areas :
1) HR Planning
- Recruitment & selection (interview process)
- Succession planning (on key staff)

2) HR Development
- Training (skills)
- Education (seminar)
- Development (improvement)

3) Performance appraisal (key criteria, feedback)

4) Rewards & Compensation
- intrinsic
- extrinsic

Passed my P3 already.
I dont think HR is important but need to know the general stuff lo.
All the things I mentioned is general answer, just mentioned those key words & elaborate should be enough.

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Added on June 7, 2009, 1:59 pmYou can attempt any core paper even you have not cleared any F papers yet but optional papers is out of the question unless you have completed all core papers or taking with core papers. 2nd factor is timing of exam, if clash can only take one of the papers.

Taking F6 to F9 will be very heavy since all of it is computational & audit is a very tricky paper no matter how clever you are. I knew someone who have cleared P7 but stuck at F8 & some who have cleared all core professional papers but stuck with audit. Audit requires good written skill which is more relevant in P rather than F papers.
Another thing worth mentioned is that F7 is very important since you will be taking P2 & this core paper assumes student with a strong foundation in F7 so if you screw up F7 then P2 will be nightmare.

The only thing that 4 papers taker face is the high possibility of failure of any papers. If you can handle the emotional barrier it should be fine.
Special note : Optional paper is really difficult & its almost 3 times difficulty compared to its F papers precedence with exception of P5.

Now this is more practical reason for employment later on :
I have approached several students (& staff) of several large firms like Big4, MNC & IB.....etc. Employers will tolerate students if they finish ACCA within 3 - 3.5 years. Although finishing faster can be an added bonus. However there are things that which is priced more by employers which are :
1) Marks : If you want to enter let say treasury / finance line : you should have high finance marks to support your argument / resume.
2) Consistency : Although 1 or 2 failures is tolerable but consistency / straight passer will be more highly regarded.

Taking 4 papers will really affect the points above. Even if passed all marks will generally be lower since most of the efforts are already diluted.
I known few those who have taken 4 papers & passed all but their marks is roughly within range of 50 to 55. Although there are some rare exceptions that can break those barrier.


This post has been edited by Topace111: Jun 7 2009, 01:59 PM

Every paper needs different approach :
Hardwork is a must if you want to perform well in ACCA but yes it doesnt guarantee success either.
For lower level like CAT you can score if you constantly practice questions which is still available with ease. Thats why you see many CAT students get overconfident in ACCA later on. All my CAT papers are easily over 80.

For fundamental level of ACCA or part 2 (6 papers), it will be now 50% practice & 50% practical. Examiners are still bind by the rules & guidelines for not setting the paper at maximum difficulty since there are professional papers for that. Plus with degree offering similar exemption its not that vital for ACCA to apply their filter system yet. There are some papers that requires practical knowledge like PM & Audit.

After that is the professional level,whcih consist of 3 core & 2 optional.
For core since its compulsory examiner will only test severely on P2. The 2 supplement papers are more non-accounting like business & ethics.
The 2 optional requires student to specialise on field like costing, audit, tax or finance.
Part 3 / professional level is the TRUE ACCA which examiner has the "full license" to test whatever they felt is necessary.

If you mean hardwork is something like "brute force" technique which is used widely by students in exams like SPM, such technic is can be used in CAT, partly in part 2 & almost useless in part 3.

FYI :
If you read STAR paper today, degree can be obtained partly if you paid some huge sums to the college which makes them reluctant to fail you. The there is additional mark for attendance, project, .....etc. In ACCA its 100% written exam based which will be marked by professional markers in UK which exceptiojn of tax & law. Your marks will be entirely dependent on performance in exam day.

Nah I have 2 month free period waititng for exam result.
So I will need to spend this period building my writing skills & some MS office application b4 finding work. After some dread feedback by > 90% from my friends, best to be prudent for now.
Is there such thing as ACCA consultant ?

Thats one of tolerable weakness of acca compared to degree. Fairness & transparency outweighs the indirect part of learning. However most organisations like Big4 does teach such things to fresh graduates. I constantly drilled my self to type at least 500 words everyday (maybe 2 )
However oral presentation is part where they key issue lies. It seems many graduates that failed to enter reputable organizations is bcos they are not fluent in english both orally & in writing.

The learning to pass that you mentioned is a very good point but I notice that trend stops at part 3 :
P1 : Its like a moral paper in SPM, cant learn bcos can come out as anything & any answer is accepted. The difference is that in P1 the answer should be as honest as possible. If they ask if a boss ask you to provide false report or get fired & if you answer the latter examiner will also mark you correct if you can provide reasonable arguments.

P2 : Can learn a bit but the examiner is regarded as the most revered one.

P3 : Like P1 you can bluff all the way through. I noticed general knowledge is more important.

For optional I noticed a lot of lecturers stop teaching for next sitting due to major difference of examinable content & actual exam. Like my P4 they twisted every question. Some papers like audit has no lecturer at all bcos there is nothing to teach. For tax the area is so wide even lecturer have to spot & examiner must release an article to signify that it will be tested. PM is also getting harder according to some of my friends.

I have unconfirmed rumour that Daniel Ho will no longer be teaching at FTMS next sitting.

ACCA is not that difficult to pass but its not simple to score only.
I will breakdown 4 ways of exam to you :

Basic knowledge : This area you can memorise & practice with ease & tricky area won't occur. Questions will be straight forward & direct.
CAT is almost 90% basic knowledge with 10% application.

Application : This is when you must react to the case scenario given. They will give you a case study & you need to react based on that question. If you give the right contents but irrelevant to case then get 0. In part 2 it will be 30% application & 70% basic knowledge & theory.

Theory means a specific model or framework which is universally accepted. Very few theory in part 2 but may be applicable in some like PM.

Practical : This means it will require your general knowledge. This will be the favourite area in part 3. For core papers this is where you need to have good knowledge & experience if you cannot memorise eveything.

Optional level should be strictly case scenario since very qs have different code. Have to prepare at least 3 presentations like Memo, letter, report, speech, notes.....etc.

I thin you should be worried about ACCA after finishing CAT . I have the same problem when I start my CAT when all my seniors scare us with stories about advance level but most of the time they are exaggerating it or simply bcos they are not ........ .

P2 will undergo a new change in syllabus for Dec 09 sitting onwards. So its best to take F7 first so F7 will be ranked no 1.

Audit should be ranked 2nd since clearing this paper first will clear a lot of hurdles later on. Don't be fooled by this paper pass rates as it was once the killing paper in old syllabus & more than 3 / 4 of my friends that failed their acca papers all have failed audit at least once. I knew more than 4 person who have stuck at 49. Its true that P1 have some overlapping areas with F8 but only on internal audit & its a small chapter only. F8 audit focuses more on external audit.

I would suggest taking tax first since tax only requires practice & hardwork.

F6 : Bound to asked company tax, personal tax or JA & some tax admin area.
F7 : Guarantee asked consol as qs 1, published a/c as qs 2 & cashflow / ratio as qs 3. Last 2 qs on standards so if you practice should be easy.
F8 : Bound to ask SP & / or TOC, then some audit procedures......

F9 hard to predict & trend is not fixed so I recommend you not to take this one first.
By the way what happened to F4 & F5 ?

P2 examiner assumes student have strong grasp in F7 b4 venturing into P2. I have met other degree students on this route & even that F7 is considered more thorough than their degree. Anyway some can handle P2 without F7 too but that depends on individual. Try to look back at past year question for F7. If you can handle it then its safe to venture into P2.

You can take F8, P1 & P3 at the same sitting.

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Added on June 9, 2009, 3:37 pmFor theory paper they rarely undergo changes.
P2 will fully incorporate the changes of NCI in Dec 09 which means examiner can fully test the area that NCI deeply affect like consol.

This post has been edited by Topace111: Jun 9 2009, 03:37 PM

Thats a very funny username by the way.
Ok since I have gathered surveys for the lecturers you mentioned I will share my experience & opinion here.
Warning : There are no perfect lecturer on this world so we can only measure based on comparison.

Menon :
Since you have mentioned explicitly that you dont like her methods I will stop here for convenience sake.

Haneef :
He is god damn patient : He will answer every student even 45 minutes after class time.
Approachable : You dont need to ask him since he will ask you back question during class. Just be prepared for it.
Egoistic : He never praise himself like Daniel Ho or criticise other lecturers (some KSA lecturer). He is the most humbel lecturer I ever met.
Technically I was a bit surprised since everything you mentioned "hit on the spot" for this lecturer.

However he is deemed very boring by many including Mr Carlo . But for resit student many will appreciate his style.
If you are weak on theories & standards he will be the perfect person to illustrate it to you.
The only problem you many find is that he can talk non stop the professional style, so if you are easily asleep person please stop reading this instant.
Since you can afford sunway he will be peanuts

For keith farmer you can refer to Carlosandy for more information.
For reasons unknown very few study under Joe Fang for P2 & even lesser willing to share more info so find out on your own.

If you want to know more in detail you can pm me directly since I can go on forever but I respect others here.

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Added on June 9, 2009, 8:02 pmhey how about your own exam. I took totally opposite optional papers compared to you. May be joining you in workforce soon.

This post has been edited by Topace111: Jun 9 2009, 08:04 PM