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Business ACCA V5!, Long live bean counters! :D

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karhoe
post Dec 10 2009, 10:56 PM

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QUOTE(DeathChaosX @ Dec 10 2009, 10:24 PM)
hey hey, the balance sheet need to balance one ka? i put all except overdraft then the overdraft as bal.fig. o. lolz. Cos i din see they give any info on o/d except the o/d int.
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LOL, it won't be called a BS if it's not balanced LOL. I did this type of question before, and yeap, the SOFP supposed to be balanced, basically you can simply put the OD figure as the balancing figure which is indeed the right answer, but the examiner has mentioned before, no marks will be given for the OD marks because you are supposed to show some workings on how you derive the OD figure apart from taking the balancing figure
karhoe
post Dec 10 2009, 11:31 PM

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QUOTE(DeathChaosX @ Dec 10 2009, 11:06 PM)
oh, but what workings to show? i just put in bracket bal.fig. laugh.gif

Thought f8 would be harder than f9. Mana tau end up f9 not really enough time to finish all.  sad.gif
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Just assume increase in WC financed by OD, so somehow it's really a balancing figure, but you still need to show it, that OD part won't carry much mark, and assume the profit reduces the OD.


Added on December 10, 2009, 11:33 pm
QUOTE(kelvinbadroyal @ Dec 10 2009, 11:29 PM)
lol, u stated control oni, the question oso asked EA to carry out the procedures to satisfy himself tat the control is in place. haha.
anyway, tis question reli not need F8 knowledge la.
the key word is poor quality of food prepared, very obvious tat the food is not hygiene at all.
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Yeap, for that, I mention "auditor observing if cleanliness have been practiced, or review local municipal council report, as they usually perform cleanliness check on restaurants"/

Ya, obviously if food is not hygiene, we need to implement control to ensure that it IS hygiene lol

This post has been edited by karhoe: Dec 10 2009, 11:34 PM
karhoe
post Dec 10 2009, 11:45 PM

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QUOTE(kelvinbadroyal @ Dec 10 2009, 11:37 PM)
lol, guess tat u will be taking p2 next sem rite?


Added on December 10, 2009, 11:42 pm
but tat answer is awarded for 1 mark, so i juz simply stated down "observation" as an audit procedure.  rolleyes.gif
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Haha, yeap, that means I have to put in full effort for my F7, because in the worst case scenario, if I were to fail F7, I'll have to drop P2.

I thought they wanted 2 controls and 2 ways of testing that the control is in place? Did you really put one word - "observation" ? It's too vague lol, observe the pretty chef? tongue.gif

This post has been edited by karhoe: Dec 10 2009, 11:45 PM
karhoe
post Dec 11 2009, 12:16 AM

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QUOTE(kelvinbadroyal @ Dec 10 2009, 11:59 PM)
f7 still can do check and balance la, haha.
but our lecturer even threaten us not to calculate final figure of SOFP in the class, not warn u kno? is threaten.
if he found tat we do tat, he will smash our calculator. haha.
but of cos, in the real exam, if u do hav extra time, u can do tis.

hwever in p2, tis is reli impossible. cant finish the whole damn paper, not to say check n balance the SOFP.

lol, i stated visit the premise's kitchen la, its oso a kind of "observation" rite?
if there are pretty chef cook, better "observe" in much more detail~
not going to let go any single corner.
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Haha, my lecturer told me the same thing, no need to sum up the figure, just show up the numbers in bracket, final figure, if after finishing everything, still got time only punch the calculator
karhoe
post Dec 11 2009, 12:48 AM

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QUOTE(kelvinbadroyal @ Dec 11 2009, 12:23 AM)
yeah, tats right, so, u left with F7?
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Yeap, what about you?

Anyway I plan to do my OBU after the exam, any advice?
karhoe
post Dec 11 2009, 01:55 AM

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Will do that,

All the best!
karhoe
post Dec 11 2009, 07:22 PM

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QUOTE(`twinkles @ Dec 11 2009, 05:39 PM)
Did any lecturers give any advice on which question to start first for F7 question? They always say don't start with Question 1 and 2 first. I just hope to get some guidance before the real exam because it has always been my style to start with the first question and follow with the other questions in the ascending order.

By the way, do we keep the ACCA exam docket after exam or we have to pass it to the invigilators?
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My lecturer say start from Q1 - 5.

Pass it to them, remember to sign on it first
karhoe
post Dec 12 2009, 10:39 PM

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QUOTE(hurly @ Dec 12 2009, 10:35 AM)
newbie question:

I am taking F4,F5,F6 next term hopefully. I have no idea how to answer essay based question. Like what is expected from a student. So now I see that ACCA is holding and event.

http://malaysia.accaglobal.com/databases/e...tudents/3273238

Is this relevant to my needs, although the tutors are for F8 and P3? or is this event catered especially for students sitting for F8 and P3?

Thank you in advance.

ps: anyone knows when do kasturi classes starts for next term?
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No need to attend workshop, this is my tips

F4 - You have to get serious about memorizing it, from the VERY BEGINNING, from Day -1, means start reading before you even attend class already!

F5 - You need to have good 'skills' in this, means you need to practice alot, there's no standard format, your T7, T4, T2, F2 skills counts here !

F6 - Memorize the 'concepts' of each tax rules, know how the mechanism work, it is easier if you can 'think like IRB', it helps you because you realize that IRB is a sucker, finding each loophole to tax you, remember taxpayers are always on the 'losing end' when it comes to tax rules, most of the tax rules benefit them.


Added on December 12, 2009, 10:40 pm
QUOTE(Limjimmy @ Dec 12 2009, 03:43 PM)
Which lecture is best for F5, F7, F8 and F9 paper Pls??
I'm want to take for next term... Pls anyone to recommended...
F6 - Wong Paik Wan is best of the best lecture... Excellent


Added on December 12, 2009, 4:25 pmWhich lecture is best for F5, F7, F8 and F9 paper Pls??
I'm want to take for next term... Pls anyone to recommended...
F6 - Wong Paik Wan is best of the best lecture... Excellent
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Well, depends la, for F6, my lecturer from Sunway also did a good job, even producing a Malaysian prize last sitting, lecturers are only there to guide you, in the end, it's your own hardwork that counts.

As long as you can understand what they teach, good enough already

This post has been edited by karhoe: Dec 12 2009, 10:41 PM
karhoe
post Dec 13 2009, 12:44 AM

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QUOTE(carlosandy @ Dec 13 2009, 12:30 AM)
If Q1 is long case study or long question, it is not recommend to start it. In exam, always start with short and easy question, Q1 long case study question should be 2nd question. This is very important exam technique, expecially in P level cos all the 1st Q in P level is long case study question.
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Well, it depends, different people have different strategy, you do agree that long case study question carries more marks, hence it can be argued that it's best attempting that question first.
karhoe
post Dec 13 2009, 11:24 PM

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QUOTE(carlosandy @ Dec 13 2009, 10:53 PM)
Ya, u are correct, long case study normally give more marks. But in the exam, if start with long case study, a lot of think oso from our mind (expecially in P level paper) and possible time mgmt not good, then will effect marks earn from other question.

It is also NOT recommend to do long case study question in last. So, better start with easier and short question, same more time on it, then we have more time on long case study question on next.

Btw, young man, this is only my experience in P level. All the best and good luck for your F7.
*
LOL, as long as have good time management, can already tongue.gif
karhoe
post Dec 14 2009, 10:22 PM

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How was the paper today? In particular, how was the new candidate registration form? How different was the answering booklet?


Added on December 14, 2009, 10:34 pm
QUOTE(YH90 @ Dec 14 2009, 09:40 PM)
What happens if you are a unregistered candidate? Have anyone encountered or experienced it before?
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I don't know, but in Sunway exam centre, there's a notice saying "All unlisted candidate please go to MPH"

This post has been edited by karhoe: Dec 14 2009, 10:34 PM
karhoe
post Dec 15 2009, 07:49 PM

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QUOTE(carlosandy @ Dec 15 2009, 02:37 PM)
Who ask you to waste a lot of time in easiest one? Easiest must using less time to finish it, please control your time.

Who tell you examiner going to be frustrated when he sees u doing it here and there? There is no exam rules saying student must start Q1 as 1st Question or must finish Section A & baru to Section B. Hello, in your exam your can start with any question. Now is not SPM exam, you must have good planning for do the question.

I don't know what your lecturer tell u for exam technique, but majority of my lecturer also ask me to start with easiest question and DO NOT START WITH LONG QUESTION. 

As you just done mistake in P1, using 2 hours for Q1. Means that your time mgmt really not good. It was prove that Q1 need more time to do. It is better start with easiet q and finish it ASAP, go to Q1 in 2nd.

Btw, this is only my experience during I take ACCA, doesn't mean my tech is suitable for all student. ALWAY REMEMBER TIME MGMT IS IMPORTANT
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Why you guys even want to argue about which questions to start first? Different people are comfortable with their own technique, let it be then.


Added on December 15, 2009, 7:50 pm
QUOTE(liondoncefreak @ Dec 15 2009, 03:20 PM)
Just for the sake of the current discussion, 3 semesters ago (the semester for the Dec 08 exam) an ACCA representative from UK (can't recall his name) came to Malaysia and had a forum with local institutions' ACCA lecturers regarding the professional core papers (P1-P3).

Among the issues that were discussed was the suggested order of attempting the questions. What was concluded was that based on statistics, students who attempted the questions in chronological order (starting with Q1) usually fared better than students who attempt another question first.
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Yes, I heard about that, it's because student doing the easier questions first, tend to write too much, sometimes irrelevant (rubbish) answers, and when they reach the difficult questions, time has run short, and panic sets in.

This post has been edited by karhoe: Dec 15 2009, 07:50 PM
karhoe
post Dec 17 2009, 08:52 AM

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QUOTE(hurly @ Dec 17 2009, 06:18 AM)
Thank you very much.

Some further newbie questions.

1. I need input on Dr Tee F5 class? Good? OK? Is he teaching for FT or PT?  I have nothing against Andrew Pang  classes but his class is always full. I don't  see myself pay attention in a packed class. I am just trying to weigh my options.

2. Inputs on Andrew Kok F6 class. I may need to work at night.  Andrew classes are FT.

3. do you get free textbooks for f4 f5 f6 at kasturi?
thank you in advance.
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I'm from Sunway, not from Kasturi tongue.gif In the end, no matter which lecturer you go for, you have to put in just as much effort.
karhoe
post Dec 17 2009, 01:20 PM

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QUOTE(88XAVIERX88 @ Dec 17 2009, 09:31 AM)
anyone can explain how the acca prizes work?

does it add value to the cert?

is it possible to get a prize by self studying or must I go for lectures?
i would also like to know, if i were to study at KSA, where can i look for accomodation?
is sunway worth it coz sunway offered me tuition fee waiver based on my A level result for paper F1 to F3? should i go there to study? but then in order to get more tuition fee waivers for other papers, they say that i must get malaysian or world prizes. how do we get it? is it tough?

do we really need to go for lectures for paper F1 to F3? coz i understand that it's mostly theory so a lecturer cannot help much right? it depends on the student to memorize? correct me if i am wrong.
i actually started reading kaplan textbook for F1 till chapter 4 then really no mood dy. reach the leadership theory part. coz no one to push me to study or no one to compare my progress with. haha so suddenly i feel that i should go for college. do you have this problem or feeling?

as you can see, i am the type who prefer to self study, but at the same time i like to have study buddies to talk about our study progress. i never really rely on my lecturers, i only need their notes and past year with answer. haha that was how i did for my A levels. not sure if it is applicable to ACCA. and i have seen the acca syllybus,, it is super duper ultra extremely hard and beyond normal human being capabilities. tongue.gif  i mean, how do you people memorize so many things?

BTW, i have no accounting background. my A level is chem, bio n maths.
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Haha, if you can get a prize, you're damn good already thumbup.gif

Malaysian prize - highest marks in Malaysia
World prize - highest marks in the World
karhoe
post Dec 17 2009, 09:54 PM

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QUOTE(ThanatosSwiftfire @ Dec 17 2009, 07:41 PM)
My past experience I've preferred BPP over Kaplan, and GTG over Kaplan too, but GTG struck me as very 'basic' that there doesn't seem to be much depth in it's text.

@88Xavier88,

as said, prizes are

M'sian prize = highest in malaysia for that paper
World prize = highest in the world for that paper
It's not exclusive to one only though, (there are joint winners in the past)

Scores required
CAT = 99/100 only. I've rarely seen anyone getting prizes for scores less than 99, imo.

ACCA

F1-F3, generally in the 95-100 category
F4-F8, generally in the 90-95s
F9, generally 85++ will get u a prize.
P1-P3, prizes generally in the 80s+, but there are sittings where the scorers are real nutjobs and get around 90s
P4-P7, on average 80s is a prizewinner marks.

Medalists
Every sitting ACCA will award medalists for highest total score

CAT medalists (for papers T5-T10, (5 papers)
Higher score for the 5 papers, on average score is about 430+ (about 90 per paper)

ACCA medalists (highest for papers P1-P7, (5 papers, 3 core, 2 optionals)
Average high score being about 350-400, being an average of about 75 per paper.

=D

Aim high, it's hard but the recognition is different compared to an ordinary ACCA cert, and helps to make up for some 'deficiencies' in ur results (say u failed one paper or so)
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Haha, you are one real life example, LOL
karhoe
post Dec 17 2009, 10:37 PM

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QUOTE(carlosandy @ Dec 17 2009, 10:09 PM)
Hello girls, do you have any problem or not? I already explain to you I never said your method is SPM level, I never said "whom do not like working question on Q1 first thinking in SPM level". Just saying "if worry ANSWER QUESTION IN RANDOM MANNER IS PROBLEM, means that your thinking in SPM level, cos normally SPM student worry this type of problem. Even people study in diploma also know can answer question in random manner."

If you still want to argue, I have no power to talk any more. That's no point to argue anymore. If you are not happy, PLEASE DO NOT REPLY MY POST ANYMORE IN FUTURE.

Small small thing also want to play post war, now ur attitude is really at Kindergarten level.
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Comeon guys, listen to whatever carlonsandy said, he is the best thumbup.gif You all still at kindergarten only tongue.gif
karhoe
post Dec 18 2009, 04:50 PM

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QUOTE(taxman @ Dec 18 2009, 02:00 PM)
have a question let say company A have 3 branch.2 of the branchs have been close down due loss making.company A need to pay compensation to the landlord because early termination of contract.so such expenses avaliable for deduction of not
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Not available if my memory serves me right, it's a cessation of business
karhoe
post Dec 20 2009, 01:47 AM

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QUOTE(carlosandy @ Dec 19 2009, 08:33 PM)
Actually depend on person oso for reading text book. I still remember in CKF 3.2 class, he ask us don't study hard text book (BPP or Kaplan oso), but text book is just for reference only. The reason was text book too many thing to read, if depend on it, then we unable to finish until exam. Even for 3.2/P6, he also ask us don't study hard his text book, but just read the example in his text book.

Just share my experience with people here, I never read text book for all 14 papers, but read lecturer study notes and practice question. The reason was all my lecturer also provide very good study notes for student to study. The lecturer notes actually are short cut from text book also.
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Yeap, I agree on this. Most of the time, to pass, all you need to do is to read your lecturer's notes. As for me, I will go through the text book at least once before the exam, and usually I find loads of additional unexamined stuffs.

Although these are not examinable, sometimes they help to explain things better. Sometimes, these are additional knowledge that could come in handy when we eventually work.


Added on December 20, 2009, 1:48 am
QUOTE(fastandfurious @ Dec 19 2009, 06:56 PM)
Can. Either p1, p2 , p3 or all of them or any combination of two including F8 and F9. (but max 4 subj) haha. btw, i have a Q. Can I take more than 2 optional papers? Fail 1 still can graduate~ lol
*
I doubt so, it's time to 'specialize' a little.

This post has been edited by karhoe: Dec 20 2009, 01:48 AM
karhoe
post Dec 22 2009, 10:03 PM

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QUOTE(88XAVIERX88 @ Dec 22 2009, 09:31 PM)
sorry guys. another newbie question. i hope topace, carloseandy or thanatoswift can help me out.

i emailed sunway to enquire about acca course and i send them my spm n A level results. they said that i should consider ICAEW ACA course. they can help send my CV to their affiliated accounting firms. so i will work n study at the same time coz need to be bonded. part of ICAEW requirement ==.

i scored straight A1 for spm and 3 A's for A level. for A level i scored 600/600 for bio, 595/600 for chem n 593/600 for maths.

duno why they offer to A level student but sunway say they had few students from A level doing it also.

so my question is, should i take up the icaew offer considering that i do not have accounting background? n how do i work if i do not know anything about accounting? oh yea,  they say i need to go through interviews n i must secure my self a job before i can study for it.
the thing is, i have just submitted my application to study ACCA at sunway today. not sure if they will accept me coz it is so late already. course starts on the 6th of jan n i have only submitted my application today.== hopefully still have place. why sunway? coz i am from sabah, so cannot hop from one college to another.

in the event that i secured a place at sunway for ACCA, should i go for it or should i apply for the ICAEw course? which is more advisable for me to take?
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Sunway is pushing their ICAEW course (maybe because they can charge audit firms more), don't be fooled so easily. Are you prepared for the working world so fast? You would be signing an agreement, where if you fail, they would dismiss you, and you might be stuck without a proper qualification !

I spoke to some partners before, they said ACCA MIGHT grant you exemptions for some paper based on your ICAEW results (say if you drop out halfway), but there isn't any B&W in regards of this.

If you decide to do ICAEW, one of the partners at Folks DFK told me that her daughter only had A Level but she is going to complete her ICAEW soon, so it's doable, but you have to put in alot of perseverance and hardwork, need to have a good balance of work and study (what about play?)
karhoe
post Dec 23 2009, 12:44 AM

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QUOTE(88XAVIERX88 @ Dec 22 2009, 11:09 PM)
thnks for the info. how long did she take to study for it? did she work for her father? was it hard for her?oh yea, did she study accounting during A levels? coz i dun hav accounting knowledge.

i'm 21 dy. kinda old. so if work now oso i dun mind coz i already had fun during A levels. btw, i had a gap year after A level coz i duno what to study. so basically wasting time at home la. haha now have to concentrate on my studies. or work if i decided to take up icaew. cannot waste my life doing nothing. haha
thanks for sharing. it really is shocking to hear that i'll just be their cheap labour ==. scared la now. haha
so i should just stick with acca? should i attempt more papers per sitting n score average marks or should i take 3 or less per sitting n try to score well? does our ACCA marks affect job prospect?

sunway did ask me what are my job preferences if i were to study for ICAEW. they didnt say that i must work with auditing firms. they even ask me if i prefer to work with multinasional companies. what do i work as at multinational companies?

apart from auditing, what can fresh acca graduate work as? or are we suppose to go straight into auditing?
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If you plan to study full time, 3 papers per sitting will be just nice, and a little stressful, 4 papers per sitting means totally no life, no weekends, and at the most, you save 6 months only - provided you pass.

Well whether does ACCA marks affect job prospects, imagine this. Employer A is presented with 2 CV, one with 50+ marks and another with world prize kind of marks, which do you think would get a better chance for interview?

ACCA grads can also move into banks, but it's usually advisable to go into auditing firms, though they pay you nuts and make you work like hell, because it's for the experience, many would leave after they get their min 3 years of practical experience and join the corporate world, where they could enjoy 9-5 work instead of 9-12(am).

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