Lol, yar.... so we're classmates?

My lecturer has mentioned about this, saying that the examiner team has clarified that this 'fundamental error' would not be penalized as they understand that a student only has 3 hours to complete the questions where in practical, there are more times, and their audit working papers would be reviewed by seniors.

Guys, seems like Monash University is now a dedicated exam center on its own with its exam center.

Btw, I just made my exam fees payment and I got this message



I plan to do OBU, so must I contact ACCA? How do I opt myself in? I know I have asked again but ACCA is kinda contradicting.

One one hand they mentioned the above, but when I clicked on OBU in myACCA, I see this



So now what?

Mirror for Sept 09 SA, SA website is damn slow

http://rapidshare.com/files/277209370/75736.pdf

I did enquire ACCA, it's RM30 only

They say that if you are strong in F5, P5 won't be that difficult, and hence people take that paper just for the sake of graduating. They say that there's not much application except if you plan to work in manufacturing industry.

1) Qualified report - An 'unqualified' report means the report is the same as that provided by ISA 700 ( I think so ). An unqualified report means the FS shows a true and fair view, a qualification means it doesn't present a true and fair view/

2) Material and pervasive, there are some errors or disagreements in the FS, material meaning the error/disagreements exceed a certain threshold (materiality level), pervasive meaning the error/disagreement is so substantial, it extends to the whole financial statement. For instance, disagreement in inventory valuation is not only substantial but could result in a net loss reported instead of net profit.

3) Material but not pervasive, means that only a particular part of FS is affected by the error/disagreement, for instance not creating provisions for doubtful debt, only the receivable figures does not present T&F view, but others are ok

Please correct me if i'm wrong, i'm taking my F8 this time round as well

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Added on October 31, 2009, 7:33 pmWon't struggle one, as long as you can churn out the case laws and the sections, you don't need Shakespeare's English for that

This post has been edited by karhoe: Oct 31 2009, 07:33 PM

Can still claim for the year, next year cannot claim already. I'm pretty sure about this, only for child relief, it's mentioned 'never been married before', so if married during the year, no more relief.

You are talking about leave passage right? On individual perspective? If local leave passage, everything can deduct , but if overseas, then food cannot deduct, only leave passage

I can't really remember, I passed my F6 last sem

We are trained to have professional skeptism, your link looks dangerous

or in /k/ style

duwan clk, sked virus


This post has been edited by karhoe: Nov 8 2009, 09:33 PM

Thanks for your wish, I'm actually struggling a little for F9 and F7, God please give me the strength and perseverance in this remaining month

All the best to those taking the exam this time round as well.

Contract FOR service, means you are working FOR someone, your contract is FOR your service.

F6 perspective - S4(b) Employment income
F4 perspective - employee

Contract of Service on the other hand,

F6 perspective - S4(a) Business income
F4 perspective - employer

Basically they expect you to use your T6 ratios la, simple ones like gearing, interest cover, etc

Normal ball point pen

I have some questions on F9, it's about WACC calculation.

There's this question saying that the company is planning to expand and diversify, launching 2 new projects which will be financed by 11% debenture and rights issue.

Then the question asked if 15% is the appropriate discount factor to appraise the project.

The answer shows that, because the 11% debenture and rights issue does not alter the financial structure of the company, hence the WACC calculation is calculated based on that 2 source of finance only, instead of taking all other existing finance, such as another debenture shown in the BS.

I'll upload the question later

Of course can

Whose processing cost? Usually all costs will be included in the total cost, then we just take the selling price x tax rate right?

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Added on December 3, 2009, 10:32 amGuys, I have an F9 question regarding WACC.

Say that we have a current capital structure of 60% debt and 40% equity, say that means we have some 12% debentures as existing debt.

Then we have a new project, which will be financed by raising 11% debentures and retained earnings, in the same 60:40 proportion, how do we appraise this project? What discount rate do we use? Do we just take the new 11% and retained earnings? or we have to include our current 12% debentures?

What if as per the scenario above, but the proportion is different, perhaps now 50% debenture, 50% retained earnings, how do we caluclate the WACC?

How do we know if the question is asking for overall corporate WACC or project specific WACC?

Cheers

This post has been edited by karhoe: Dec 3 2009, 11:06 AM

Ya, it's P4 question, but recently Mr Head wrote about this in his latest Cost of Capital article, that means F9 syllabus will only ask to calculate overall WACC and never project specific WACC?

This post has been edited by karhoe: Dec 3 2009, 11:35 PM

LOL really? Last round paper was considered easy already

Wow, F9 was challenging, and tricky.

Like how the examiner combine forex with TERP calculation, and he includes right issue costs as well.

And Q3, 9 marks question was a killer.

Apart from that, I screwed up a very simple NPV calculation, put one expenses a year later, for the next 4 years, would I be penalized for wrong Net cash flow, wrong Present value and wrong NPV?

Ya, I was seriously confused also, for part A and B, LOL

I had 15 mins left for the last 12 marks, wasted alot of time trying to balance the SOFP LOL, so the last 12 marks wasn't well attempted.

Sort of, I rushed through the last 12 marks in 15 minutes, panic already, couldn't even remember definition of aggresive WC policy at first LOL

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Added on December 10, 2009, 9:12 pmAiya, internal control in kitchen, don't need F8 knowledge to answer that, just tell all the crews and staffs to maintain high standard of hygiene and personal cleanliness, that is also a control.

This post has been edited by karhoe: Dec 10 2009, 09:12 PM