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

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allornothing
post May 27 2009, 11:25 AM

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QUOTE(b3llad0nna @ May 26 2009, 11:57 PM)
icon_question.gif URGENT!! icon_question.gif

To anyone who's doing f8 dis exams...and has attempted f8 before...

I've heard tht there are some major changes?? I'm self-studying this sem... Can sum pls let me kno which areas are affected??? Is it a total change? or neglible!!

ASAP !!

Appreciate anyone who can help me out on this asap...Thanks
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I heard the major change is next sitting, since the current examiner should be retiring this sitting. If you already know his style, it's best to pass this round.
allornothing
post May 30 2009, 03:30 PM

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QUOTE(karhoe @ May 30 2009, 09:35 AM)
Guys, got some tax questions here



4) Can a normal trading business deduct legal expenses incur in renewing financial loan? I know that legal expenses incurred in obtaining first loan is not deductible as it secures an enduring advantage but what about subsequent renewal of the loans?


Thanks  smile.gif
*
Non deductible legal and professional expenses
-Renewal of loan incurred by a trading or commercial company

Deductible legal and professional expenses
-Renewal of loans incurred by a finance company

Took from PR.
allornothing
post Jun 1 2009, 09:08 PM

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What's so tricky?

Could you please tell? smile.gif


As for F4, it's too late to focus which topics. Get started with past years, study and remember answer.


This post has been edited by allornothing: Jun 1 2009, 09:09 PM
allornothing
post Jun 1 2009, 11:23 PM

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QUOTE(pristina @ Jun 1 2009, 10:58 PM)
got one friend.but he pass the exam already..
what do you need? actually his book is on my hand tongue.gif

one question of F6 question 5 again.
service tax, which should i impose service tax?
1 ] legal fee
2 ] consultancy fee
3 ] courier charges
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Consultancy fee should not be taxed, as it has been taxed before. So only 1 and 3, imo

This post has been edited by allornothing: Jun 1 2009, 11:30 PM
allornothing
post Jun 2 2009, 09:41 AM

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QUOTE(prole @ Jun 2 2009, 06:26 AM)
Courier charge is Reimbursement item, I don't think is chargeable to Service Tax...


Added on June 2, 2009, 6:28 amAny tips for F7?
*
Verified with Choong Kwai Fatt textbook already. It is chargeable together with the Legal fees smile.gif
allornothing
post Jun 2 2009, 12:00 PM

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QUOTE(pristina @ Jun 2 2009, 09:57 AM)
how many mark is gone if didn't impose on courier charges?
*
Not much I suppose. After all the whole question only 10 marks. Anyway, it's over.

Good luck to those sitting F4. smile.gif
allornothing
post Jun 3 2009, 12:05 PM

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QUOTE(MmxZero @ Jun 3 2009, 11:38 AM)
So whose going to die in today F8 paper? I know I am.
*
Best of luck. Get through this sitting at least. You never know how the new examiner's style would be like.
allornothing
post Jun 4 2009, 02:10 AM

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As for F5, know everything. There is no standardized question like F6 or F7.
allornothing
post Jun 9 2009, 12:15 AM

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QUOTE(karhoe @ Jun 8 2009, 09:55 PM)
F5 was killer

for first question, i spent 25 minutes to read it, and still can't do it, but eventually i tried some luck and common sense and got it right, but couldnt explain it well.

Made some silly mistake in the relevant cost question, as for the discount, I forgot that annual purchase, have to include daily sales, I only included Sunday sales. So discount wrong, bonus also wrong as it is a percentage of net profit.

Btw, the relevant cost question, have to explain anot, sunk cost, etc?
*
I can safely say the pass rates for this F5 should be one of the lowest again.



allornothing
post Jul 3 2009, 01:41 PM

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The ones benefiting are students and lecturers.

Obviously it means more pay for them, and also less hassle for us students since we do not have to go KL (with the exception of Sunway, since it's been there for ages)
allornothing
post Jul 12 2009, 01:14 AM

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QUOTE(karhoe @ Jul 12 2009, 01:11 AM)
Inti seems to be capitalizing on the fact that tuition centres in KL do not provide good campus life. I believe Inti will one day pose serious challenge to Sunway, healthy competition  smile.gif
*
I guess so, if Sunway were to sit back and do nothing.

Btw you're pretty tall in real life smile.gif
allornothing
post Jul 23 2009, 12:15 AM

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If he's referring to the computational aspects, I don't blame him because of the nature of his course. But P papers will take a toll on those who are not used to thinking critically
allornothing
post Jul 23 2009, 10:59 PM

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http://www.hasil.org.my/english/eng_index.asp

Is this it?
allornothing
post Jul 24 2009, 12:27 AM

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Well I guess what is freely available on the internet isn't as valuable then. Unless you know someone in the Tax department, I don't see any other way
allornothing
post Oct 8 2009, 10:10 PM

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QUOTE(dream-for-life @ Oct 8 2009, 09:44 PM)
I still got one question if I no take the P4 paper, in future I am not able to work in the finance fields?e.g financial planning and etc. cannot become CFO??
*
You can even if you don't take P4. It's just that taking it might help you somewhere in the future.

Similarly, one can go into audit without taking P7.

You need more than just knowledge to become someone who holds an important post..
allornothing
post Oct 10 2009, 09:40 PM

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QUOTE(innocence @ Oct 10 2009, 09:26 PM)
i thought last time you mentioned that it isn't compulsory to take up p6 n p7 if we wanna get into big 4. i'm confused.  sad.gif
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It is not compulsory and I can confirm that.
allornothing
post Oct 12 2009, 01:57 PM

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QUOTE(Topace111 @ Oct 11 2009, 02:54 PM)
Mea culpa mea culpa,
Once you join a big 4 WITHOUT a professional qualification (Ie : a degree holder) then if you CHOOSE acca as your choice then you must take P6 & P7 if you join the ASSURANCE line. For tax & adviosry it is not mandatory but highly encouraged. If you already finished acca then apply they will not mind. Anyway big4 is not the only firms that acca holders will & can join.
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I have quite a few classmates from the Big Four though. In my P5 class, that is. And they are degree holders. Maybe it only applies to specific firms.


allornothing
post Nov 7 2009, 10:35 PM

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And here's an even better advice: Don't click on that link.

Sorry my friend, try harder
allornothing
post Nov 8 2009, 09:51 PM

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QUOTE(karhoe @ Nov 8 2009, 09:31 PM)
We are trained to have professional skeptism, your link looks dangerous

or in /k/ style

duwan clk, sked virus
*
I think you'll do well in F8 this round biggrin.gif
allornothing
post Dec 11 2009, 09:47 PM

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I would advise to do F7 in a chronological manner.

A well prepared student would have not much problems finishing on time. Due to the little variation in the ways question can present themselves (Q1: Conso SOFP or SOCE) (Q3: Cashflow or Ratio) one can actually do enough practice to improve speed..


Just don't toss away the knowledge after the exam. P2 awaits biggrin.gif

This post has been edited by allornothing: Dec 11 2009, 09:48 PM

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