TARC ACCA (Chartered Accountant)

Whole Own Foreign Enterprise (WOFE or WFOE)

noreply@blogger.com (SamSeiko) — Tue, 08 Jan 2019 05:01:00 +0000

The documents you need to establish a WFOE in China. Following are the required documents to open a Wholly Foreign Owned Enterprise (WFOE) in China: 1. Company Investor: 2x Certified Copies of Certificate of Incorporation. They should be certified by the Chinese Embassy or Consulate abroad. Individual Investor: 2x Certified passport copies of the investor(s). Copies should be certified by the Chinese Embassy or Consulate abroad 2. Company investor: 2x Bank Reference Letters showing a good standing 3. Company Investor: Passport copy of:
a) Parent company's director
b) China company's Legal Representative (future director of your Chinese company) and
c) China company's supervisor (future supervisor of your Chinese company) 4. Legal Representative (Future director of your Chinese company) will need to provide 6 photos (2 inches size), and a brief resume. 5. Registered capital (We can discuss the amount depending on your business type) Business Scope (what business activities you want to engage in with your Chinese company?
Remember, there are several types of WFOEs. Check our videos for more info); 6. 8 proposed names for your Chinese company. You can give us English names, and we will help you translate them into Chinese and check the government database if those names are available or not. 7. Office address in China - this one is included in the package. We will register your company in an office building. All WFOEs need to have a physical office, as required by the government, and we can help you get one. After we've register your company, you can rent an office from the location of the city you want to operate your business from, for eg, we can register your company in Songjiang in of our office buildings, and this will be your registered address. But you don't have to operate your business from Songjiang. You can go ahead and rent an office from the center of Shanghai or any other city, and operate your business from there. 8. 4x Letter of Authorization - it's signed between you and us. Meaning that our company will act on behalf of you to register a company for you. 9. For company investor: A Copy of the latest annual audit report from the parent company: provided by a Certified Public Accountant (CPA) and Customs HS Code of proposed Import/Export products in China(we will help you to obtain the latter) These documents are the basic ones you need to establish a Trading, Service and Consulting WFOEs. For Manufacturing, Freight Forwarding, Food and Beverage, documents vary depending on the location.

source: https://www.youtube.com/watch?v=mBTPBVVnwIY

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Bank Negara Malaysia 2015 Report

noreply@blogger.com (SamSeiko) — Thu, 24 Mar 2016 03:05:00 +0000

Highlights of Bank Negara Malaysia's Annual Report 2015

23 March 2016 | Source: Bernama

KUALA LUMPUR, March 23 (Bernama) -- Following are the highlights of the 2015 Bank Negara Malaysia Annual Report:

* Economy to expand by 4 per cent and 4.5 per cent in 2016 driven mainly by domestic demand (2015: 5 pct)

* Bank Negara Malaysia declares dividend payout of RM3 billion to the government for the year 2015

* The services and manufacturing sector expected to grow at a moderate rate of 4.4 per cent and 4.1 per cent, respectively, in 2016 (2015 : 5.1 pct and 4.9 pct, respectively)

* Mining and quarrying and construction to see an expansion of 3.5 per cent and 7.9 per cent, respectively, in 2016 (2015 : 4.7 pct and 8.2 pct, respectively)

* Agriculture sector to contract marginally by -0.3 per cent in 2016, largely due to lower palm oil yields following the hot and dry weather conditions brought about by the strong El-Nino weather phenomenon (2015: 1 pct)

* Gross exports are forecast to expand by 2.4 per cent in 2016, sustained by a modest improvement in demand from advanced economies and continued growth in regional economies (2015: 1.9 per cent)

* Gross import growth is projected to increase to 4.9 per cent in 2016 (2015: 0.4 per cent)

* Private consumption to growth is projected to moderate to 5.1 per cent in 2016 (2015: 6 pct)

* Private investment growth is projected to trend below its long-term average and grow by 5.5 per cent in 2016

* Headline inflation is projected to be higher at 2.5 per cent to 3.5 per cent in 2016 (2015: 2.1 pct)

* Public consumption growth is expected to moderate to 2 per cent in 2016, reflecting mainly the lower spending on supplies and services given the government's commitment to more prudent spending under the current uncertain environment

* Public investment is projected to turn around to register a positive growth of 1.1 per cent

* Consumer spending to be affected by an environment of higher prices and greater uncertainty but remain supported by continued income and employment growth

* Private investment to trend below long-term average in 2016, however, growth remains supported by on-going and new investments, particularly in the manufacturing sector

* While ringgit has strengthened in recent months, volatility is likely to persist going forward

* Total assets of Bank Negara Malaysia amounted to RM440.6 billion with international reserves of RM409.1 billion (US$95.3 billion)

* International reserves are adequate to provide a buffer against external shocks and facilitate international transactions

* Banking system surplus liquidity remained high at RM178.3 billion as at January 2016

* Malaysia's external debt stood at RM833.7 billion, equivalent to US$192.2 billion or 72.1 per cent of GDP as at end of 2015 (2014: RM747.1 per cent of GDP)

* The current account surplus may be lower at RM19.1 billion or 1-2 per cent of Gross National Income in 2016, on account of lower goods surplus and wider income deficits

* The unemployment rate may increase slightly but is expected to remain low at around 3.3 per cent and 3.5 per cent (2015: 5.7 pct)

* Malaysia's population to increase to 31.4 million in 2016 (2015 : 31 million)

Source:
http://www.mltic.my/general/news/highlights-of-bank-negara-malaysias-annual-report-2015-MY15463.html

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

OBU - ACCA related

noreply@blogger.com (SamSeiko) — Thu, 25 Feb 2016 05:31:00 +0000

The following question posted by Jahnvi

Hi,

I request you that if you could please try and help me out, It will be of great help if you can contribute any relevant information you have regarding my queries as below;

Firstly, I want to go to Canada during september, 2016 for further studies after I am done with the 9 ACCA papers, that is in June, 2016 and I shall as well apply for the OBU degree, which hopefully if I pass, I shall be awarded with it on 21st September, 2016. (Period 31)

Since there are no universities or institutions that teach ACCA in Canada, therefore, I will need to opt in for a bachelor’s degree, but I will if all goes fine, I will have a OBU degree in September, but it will be late because I will need to have applied before If I wish to join for September intake to give time for student visa procedures as well.

Therefore, my question is, should I wait for January, 2017, & apply for masters after this degree or should I try and get admissions in another degree and try to claim transfer credits/ exemptions because bachelor’s are 4 years. Regarding masters, I am unaware if I will be eligible for masters after this degree because their system is totally different, as their requirements are very many, they need 4 years bachelor’s, 150 credit hours!! Which I don’t know if the OBU is equivalent to or not! Plus most even need 2 year work experience which unfortunately I lack. As well I am sure they won’t give me a direct entry, because I will have to study some courses like their tax and law papers before masters And the list just goes on!

Hence, please suggest me what should I consider doing? Another bachelor’s or I wait until 2017 and apply for masters, I dont even know if OBU degree is of any value in Canada or not, anyones in canada who’s really got knowledge about this, please share any information or advice because I am really confused. Or should I apply in another country if not Canada?! Any ideas or advises on what I can do will be of great help.

Thank you

Answered by trephena

@Jahnvi – well done for thinking ahead.

You have highlighted a problem area – the OBU degree is not recognised everywhere and neither is ACCA in the USA and most of Canada. Obviously you don’t really want to spend time and have to re-study the same subjects to just get the North American equivalent of what you already have. So this may call for an ‘out of the box’ solution.

I think you really need to stand back and ask yourself where realistically do you see yourself career-wise in 5 or 6 years time? What do you really want to do with your life and career? I don’t want to be a scaremongerer but I found the attached quite interesting

http://www.bbc.co.uk/news/technology-34066941

The inevitable fact is that many who are currently training as accountants will find themselves in the Western world at best struggling to find work and at worst replaced by artificial intelligence. The real survivors will be those with specialisms that artificial intelligence will find hard to replicate.

So my advice is to develop new skills and qualifications rather than mere alternatives that are basically the same as what you have or hope to have in a year’s time. The other thing to remember is that just because you intend to live in Canada doesn’ t mean you have to physically study there unless your mind is firmly set on being a CPA. Personally I think an MBA or other appropriate masters degree would advance your long term career prospects and this could be done distance learning. Choosing a distance learning Masters from a UK University solves the recognition problem. Another recommendation is going for the CFE (Certified Fraud Examiner) qualification. ACCA is recognised by ACFE and if you wanted to do a Masters subsequently you could choose one that include aspects of criminology such as forensic accounting, fraud management or financial investigations. These types of specialist investigative roles are likely to increase going forward and unlikely ever (at least in the foreseeable future) to be replaced by machines

Source:Canada Visa
IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

ACCA to ICAEW to ICAA route

noreply@blogger.com (SamSeiko) — Sun, 14 Feb 2016 15:02:00 +0000

ACCA to ICAEW to ICAA route

For those who wish to hold more than one (1) professional body memberships, this is the post you should check before proceeding.

A lot of people are asking :

(i) Can i become ICAEW member if I have ACCA member?

(ii) How can I become ICAA member after ACCA member?

(iii) How many exemptions can I get from ICAEW if I am ACCA member?

So.... like you all, I wish to gain more than 1 professional body memberships. I've did research and these are the information I can gathered for those students or members who wish to pursue additional memberships after ACCA.

However you need to know this first, you got to have ACCA membership in order to go further than where you are right now. That means you need to complete 14 gruesome exam papers, obtained 3 hell-bend work experience and 14 Practical Experience (9 Essentials and 4 Options), and paid GBP 221 admission fee. I assume you did your research on ACCA membership and obtained the ACCA membership too.

Eventhough, the ACCA memberships (180,000 members encounting.....) had overtook ICAEW memberships in numbers; this means ACCA has more recognition than ICAEW. However, employers are still perceiving ICAEW as more prestigious than ACCA.

NOW.......

Once you've obtained ACCA membership, then you have to register yourself as ACA student.

ACCA students and affiliates - How to register as an ACA student

FIRST STEP, in order to join ICAEW, you’ll need to complete formal ACA training. You can register in two ways:

(a) Registering as a student in a training agreement – This applies if you have been offered an ICAEW training agreement with an ICAEW authorised training employer (ATE) at the time of registration. Students must have their training office number to complete registration. If they are not already authorised, your company can become an authorised training employer. It’s a free and straightforward process. Alternatively, if your manager or any other senior manager in your company is a qualified accountant, they may be eligible to become an authorised training principal.

(b) Registering as an Independent student – This applies if you have not yet secured a training agreement with an ICAEW ATE. You would be unable to gain any practical work experience as an independent student until you have secured an ICAEW training agreement. Independent students are required to fund their own studies and their registration fee must be paid upon registering and must be paid on a calendar yearly basis. In order to complete your registration, you must also email copies of your qualifications to applications@icaew.com.

SECOND, you go claim the maximum exam exemptions. As an ACCA student or affiliate you may be exempt from up to 12 of these exams by applying for Credit for Prior Learning (CPL). Bear in mind that you can only claim maximum of 12 papers (Passing P6 and P7 in ACCA)

Currently ACCA students and affiliates are able to claim credits free of charge providing registration and CPL application has been received by 30 September 2016 as follows (TABLE 1):

Subject	Qualifiers and criteria
Accounting	ACCA Membership
Assurance	ACCA Membership
Audit and Assurance	ACCA Membership and P7 Advanced Audit and Assurance
Business and Finance	ACCA Membership
Business Planning: Taxation	ACCA Membership and P6 Advanced Taxation
Business Strategy	ACCA Membership
Financial Accounting and Reporting	ACCA Membership
Financial Management	ACCA Membership
Law	ACCA Membership
Management Information	ACCA Membership
Principles of Taxation	ACCA Membership
Tax Compliance	ACCA Membership and P6 Advanced Taxation

Now you'll have 2 Advanced level papers and 1 case study to complete the whole ICAEW course.

Last, you need to tick off the checklist.

You are required to fulfill the requirements in order to become member of ICAEW, as below:

(i) registered as ACA student and claim 12 papers of exemption as stated in the above TABLE 1;

(ii) then passing last 2 final Advanced level papers (Business Strategy, Business Reporting) and a Case Study (3 out of 15 papers, not too difficult right??);

(iii) 2 years of experience requirements under ICAEW firm.

Hence, you can claim reciprocal agreement between ICAEW and ICAA via ICAEW-ICAA mutual-recognition agreement. Otherwise, reciprocal agreement cannot be claimed.

And NO, you MUST fulfill all the above requirements or else you would not get the ICAEW membership! Stop asking "what-if" (ie. did some articleship or no practical experience). ICAEW not founded by your parents, so wake up and smell the reality!

There is another way to claim ICAEW membership

Student who has passed all the examinations required for membership of professional accountancy bodies recognised under the European Union's Directive 2005/36/EC or Directive 2006/43/EC. Or you are a Member of the followings:

- Institute of Chartered Accountants in Australia (ICAA),

- Canadian Institute of Chartered Accountants (CICA)

- Institute of Chartered Accountants of New Zealand (NZICA)

- Institute of Chartered Accountants of Zimbabwe (ICAZ)

- South African Institute of Chartered Accountants (SAICA)

are eligible to apply for reciprocal membership under clause 12 of the Supplemental Royal Charter. Similar arrangements apply to Members of professional accountancy bodies recognised under the European Union's Directive 2005/36/EC or Directive 2006/43/EC.

Furthermore, ICAA Hand Book states:

"209.4 An applicant shall have been admitted to the overseas accounting body by the usual education and professional examination requirements, not by special recognition or any other mutual recognition agreement.

209.5 An applicant shall have professional experience of not less than three (3) years in the case of an applicant who has graduated from a tertiary institution, or five (5) years in any other case."

Therefore you are a eligible to apply as a member of ICAA once obtained ICAEW membership.

WHAT IF I DON'T HAVE P6 ADVANCED TAXATION IN ACCA?

Well then you can either take 1 extra paper in ICAEW or you can write in ACCA to take additional exam (yeah you can do that eventhough you have passed all 14 papers and obtained membership) hence, passing the P6 will allow you to claim extra ICAEW exemption.

Source:

ICAEW

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

ACCA Exam Tips

noreply@blogger.com (SamSeiko) — Mon, 18 Jan 2016 11:30:00 +0000

Good morning,

2.1 Preparation Tips

Except for core papers, research the optional papers before deciding. Now, people normally would decide papers based on their job specialization. For example, if you are doing accounting & tax, you would take P6. I don't actually recommend this practice because be reminded the new ruling is 7 years to complete P papers, it might seem to be enough but I have seen people failing P-level paper (single) for numerous times, including myself : ) . So, just pick the option papers that you are confident with. Also, dont be afraid to switch papers but this need to be use with EXTREME CAUTION, I dont want to be held responsible. So, dont quote me on that.

After deciding what to sit, prepare your resources.The most critical resources are listed below:

1. Study text (backbone of your study material) - BPP (highly recommended), Kaplan and GTG also not bad. But it seems like GTG is shrinking, I used to like their P3 and P7 books.

2. Revision Kit (A must for practice) - BPP (highly recommended). I have never used other publisher. So, cant comment.

3. Your own personalized notes - depends on your style, I like to do my own summarized notes based on study text because I dont want to freak myself out during exam by seeing the wall of text.

Another important preparation is to know the examiner, you need to know your enemy before going into battle. Few ways to know your examiner, read examiner comments which can be found in ACCA web, read all the technical articles, surf opentuition.com (some top students will post tips there) and discuss with friends who have pass their papers recently.

2.2 Study tips

Consistency, study with consistency. I can say this, last minute study in ACCA will not work. Consistency here means, every week, you must be putting some input into your brain.

Usually, my plan is to familiarize a subject in the 1st - 3rd month. Then, 4th and 5th is usually practice and fixing weaknesses and loopholes.

Create your own personalized notes, making use of abbreviation, mnemonics, mind mapping and other study techniques you are comfortable.

After familiarizing, make sure you practice past year questions and ample practice via revision kit (at least 70% of the total questions).

Besides practice, you need to recall your subjects regularly. That's why you need a summary notes because P-level is very memory, fact-driven and theory intensive. Just like P5 examiner said, equivalent to a Master's degree with the exception you are writing your thesis in the exam hall with a time constraint of 3 hours 15 minutes. So, your research and inputs must be stored in your brain before exam : ) .

2.3 Exam tips

Exam tips is more towards health.

1. One week before exam, relax, exercise, go for movies. Don't let issues affect your emotional state. If you are in a relationship, tell your gf/bf to gtfo for the week or two until exam is done. Healthy mind, physical and emotion are important.

2. Before exam, I highly recommend avoiding caffeinated drinks because you are going to feel exhausted after 2 hours consuming caffeine. Highly recommend drinking FRESH FRUIT JUICES, good energy booster especially when you need to write a lot to increase your chance of passing.

3. Please go to web and research food to avoid before exam, oily & fatty foods for instance.

4. Attempt all questions. You need to try your best to attempt all questions even if you aren't confident. Markers can't award marks if answer scripts are blank.

These are mostly the tips I used to employ. So, if i recall anything, I would update again. Thanks for reading and Good Luck to you. Please share if you find this helpful.

Credit to: Binary Teo

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

ACCA Exam Dates March 2016

noreply@blogger.com (SamSeiko) — Sat, 26 Dec 2015 10:06:00 +0000

For those who are planning to take exam in March 2016 ACCA Exam, these are the Dates for March 2016. The first session of ACCA exam in 2016!

Note: Take note on the variants given below for F and P series papers.

ACCA Exam Dates March 2016:

Dates	F Series (Variants)	P Series (Variants)
Monday 7 March 2016	F8	P7 (INT, UK, IRL, SGP)
Tuesday 8 March 2016	F7	P2 (INT, UK, IRL, SGP)
Wednesday 9 March 2016	F5	P1 (INT, SGP) P5
Thursday 10 March 2016	F6 (UK, MYS, SGP)	P3, P6 (UK, MYS)
Friday 11 March 2016	F9, F4 (MYS, SGP)	P4

Audit Partner License in Malaysia

noreply@blogger.com (SamSeiko) — Sat, 26 Dec 2015 09:30:00 +0000

If you had been working in the audit or tax or liquidator in Malaysia for more than 3 years and you gotten your MIA membership, you might be considering to join as one of the top managements (by investing money into the firm, where you'll calculate yourself the breakeven point, yes we all do that) and wish to put your glamorous signatory on the financial report like all the proud partners and you wish to obtain Audit Partner License in Malaysia, then this is the post you should be reading.....

Approval and Licence Renewal of Auditor / Company Liquidator

INDEX
1. What are the requirements to become an auditor?
2. What are the requirements to become a company liquidator?
3. How long is the waiting period for a particular candidate before being called for an interview?
4. Who are the interview panel and what are the aspects that are tested during the interview session?
5. What action should be taken if the candidate gets through the interview?
6. When should Form C be submitted to renew the auditor / company liquidator approval?
7. What action should be taken if the auditor and company liquidator approval period has lapsed?
8. Will tax approval also be given automatically when renewing the auditor’s approval?
9. How much is the total payment for renewing approval as auditor / company liquidator? What is the mode of payment? Can payment be made by cash or by using personal cheque?

1. What are the requirements to become an auditor?

The requirements to become an auditor;

A person must have approval which is recognised in Schedule 1 of the Accountant Act 1967

A member of the Malaysia Institute of Accountants (MIA) holding the status of Accredited Accountant Possess practising certificate from MIA

Has sufficient experience in auditing work in public accountant firms which is for a period of 3 years after becoming an MIA member. Candidates who have left their auditing career for so long are required to have at least 3 years of audit experience continously within the period of 4 years applying as auditor and;

Candidate is obliged to attend the Public Practice Program organised by MIA.

2. What are the requirements to become a company liquidator?

The requirements to be an auditor;

Obtained approval as auditor under the Companies Act for at least 1 year and

Have experience in the company liquidation field for at least 2 years

3. How long is the waiting period for a particular candidate before being called for an interview?

1 month – 3 months

4. Who are the interview panel and what are the aspects that are tested during the interview session?

The interview panel consists of:
Deputy Accountant General (Corporate) – Chairman
Representative of the Companies Commission of Malaysia (SSM)
Representative of the Malaysian Institute of Accountants (MIA)
Representative of the Securities Commission of Malaysia (SC)
Representative of the Central Bank of Malaysia (BNM)
Representative of the Insolvency Department of Malaysia (JIM) – if it involves company liquidator

Aspects that are tested
- SSM – Companies Act, 1965
- MIA – MIA By Laws, taxation, auditing, FRS and ISRC
- SC – Securities Industry aspect and capital market
- BNM – Banking and financial aspect
- JIM – Liquidation aspect

5. What action should be taken if the candidate gets through the interview?

5.1 Auditor Approval: The candidate is required to submit to the AGD the following:- Copy of provision letter of firm number issued by the Companies Commissioner of Malaysia. Copy of Form 5 of the Companies Act 1965 which is certified by the Companies Commissioner of Malaysia Approval payment of RM100.00 in the form of a cross cheque / money order under the name of ACCOUNTANT GENERAL OF MALAYSIA; and Certified copy of identification card.

5.2 Company liquidator approval Approval payment of RM50.00 in the form of a cross cheque / money order under the name of ACCOUNTANT GENERAL of MALAYSIA; and Certified copy of identification card.

6. When should Form C be submitted to renew the auditor / company liquidator approval?

3 months before the end of the previous approval.

7. What action should be taken if the auditor and company liquidator approval period has lapsed?

The auditor and company liquidator will need to renew the approval within the period of one year from the last date of the previous approval renewal. Throughout the said period, they should not act as auditors and are not allowed to sign any audit report. If the auditor and company liquidator fail to renew the said approval within the period of one year, they will need to re-sit the said interview by submitting a new application (Form A).

8. Will tax approval also be given automatically when renewing the auditor’s approval?

No. Starting from 1 January 2006, tax approvals and auditor approval renewals are separate. All applications in relation to auditors and company liquidators should be done to the Accountant General’s Department of Malaysia, whereas applications in relation to tax agents should be done to the Tax Analysis Division, Ministry of Finance.

9. How much is the total payment for renewing approval as auditor / company liquidator? What is the mode of payment? Can payment be made by cash or by using personal cheque?

Payment for auditor approval renewal is RM100 whereas company liquidator is RM500. Payment should be done to the ACCOUNTANT GENERAL of MALAYSIA using company cheque, postal order, money order or bank draft. Payment by CASH or PERSONAL CHEQUE is not accepted.

Voila! That's how you obtain Audit Partner License in Malaysia! Best of Luck!!

Source: http://portal.anm.gov.my/

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

P7 Audit Oversight Board

noreply@blogger.com (SamSeiko) — Thu, 03 Dec 2015 02:09:00 +0000

Audit Oversight Board (AOB) has revokes registration of auditors for the first time!

The revocation is under section 31Q(1)(a)(B) of the SCMA 1993 for failure to remain fit and proper to audit public interest entities.

Wong Weng Foo & Co (Wong Weng Foo and Abdul Halim Husin were found to have failed to comply with auditing standards in the engagement performance of two public listed entities.

The auditors also failed to ensure that the person who audits the financial statement of a public listed entity on behalf of the audit firm is appropriately qualified, sufficiently trained and competent.

大马证监会(SC)首次援引1993年证监会法令，撤消一家会计楼的审计注册!
SC今天在一项文告中指出，被撤消审计注册的会计楼是WONG WENG FOO & CO。

该会计楼的主要合伙人WONG WENG FOO及另一位合伙人Abdul Halim Husin 的审计注册也同样被撤消。

WONG WENG FOO & CO在去年6月也曾被SC罚款1万令吉，及在12个月内不能招收新的审计生意。

在我国的1993年证监会法令下，所有欲审计上市公司账目的会计楼，皆须向SC注册。 SC文告补充说，WONG WENG FOO会计楼在审计2家上市公司的账目时，没有遵守审计准则，此外，该会计楼也没有诚实地执行审计任务。

SC说，这是该会首次援引法令撤消一家会计楼的审计注册。

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Top 30 Audit Firms in 2015

noreply@blogger.com (SamSeiko) — Thu, 22 Oct 2015 12:09:00 +0000

Here's the list of top 30 audit firms in 2015 surveyed by AccountancyAge.

We have these audit firms in 2015
(1) PwC - Ian Powel
(2) Deloitte - David Sproul
(3) KPMG - Smon Collins
(4) EY - Steve Varley
(5) Grant Thornton - Sacha Romanovitch
(6) BDO - Simon Michaels
(7) Baker Tilly - Laurence Longe
(8) Smith and Williamson - David Cobb and Kevin Stopps
(9) Mazars - Phil Verity

(10) Moore Stephens - Simon Gallagher

(11) PKF - Jeremy Bowler

(12) Saffery Champness

(13) Haines Watts Group
(14) Crowe Clark Whitehill
(15) UHY Hacker Young Group
(16) Begbies Traynor Group
(17) MHA Maclntyre Hudson
(18) Kingston Smith
(19) Wilkins Kennedy

* Moore Stephens and Chantrey Vellacott completed a merger on 1 May 2015

**These are also the top 10 firms in Malaysia 2015 such as PwC, Deloitte, KPMG, EY, SJ Grant Thornton, BDO, Crowe Horwath, Mazars, Baker Tilly Monteiro Heng, PKF, UHY

Where does your audit firm ranked at??

For full list download at
http://www.accountancyage.com/digital_assets/9042/2015_top_50_+_50_v8.pdf

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

How to get 4 TB free cloud storage

noreply@blogger.com (SamSeiko) — Thu, 22 Oct 2015 11:56:00 +0000

Guys, the search ends now!

If you wish to get more storage from cloud storage it will cost you arms and legs however now we have WeiYun! It offers 1 TB once you successfully registered and 3 TB extra, that's total 4 TB (4000 GB)!

Read more:
http://prevalentco.blogspot.com/#ixzz3pITcYY1o

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Budget 2012 Highlights

noreply@blogger.com (SamSeiko) — Mon, 01 Oct 2012 10:00:00 +0000

Source:-
http://blog.imoney.my/malaysia-budget-2013-infographic/

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

ACCA June 2012 Pass Rate

noreply@blogger.com (SamSeiko) — Wed, 22 Aug 2012 06:28:00 +0000

We congratulate those who have succeeded in their exams – and we are delighted to see that more than 7,000 have completed their examinations, having been able to demonstrate the financial knowledge and professional skills which are needed by organisations in challenging economic conditions. We look forward to welcoming them to ACCA membership on completion of their practical experience requirements"

— Alan Hatfield, director-learning, ACCA

June 2012 session ACCA Qualification pass rates:

Paper F1, Accountant in Business, 64%*

Paper F2, Management Accounting, 52%*

Paper F3, Financial Accounting, 57%*

Paper F4, Corporate and Business Law, 54%

Paper F5, Performance Management, 42%

Paper F6, Taxation, 45%

Paper F7, Financial Reporting, 48%

Paper F8, Audit and Assurance, 56%

Paper F9, Financial Management, 37%

Paper P1, Governance, Risk and Ethics, 53%

Paper P2, Corporate Reporting, 49%

Paper P3, Business Analysis, 49%

Paper P4, Advanced Financial Management, 36%

Paper P5, Advanced Performance Management, 35%

Paper P6, Advanced Taxation, 42%

Paper P7, Advanced Audit and Assurance, 32%

via

ACCA Global

Six Careers For People Who Don't Like People

noreply@blogger.com (SamSeiko) — Tue, 17 Jul 2012 23:41:00 +0000

Not a people person? That shouldn't be a problem in these careers.
Career #1 - Accountant
Are you happier focusing on spreadsheets and actually getting things done versus listening to coworkers or customers talking all day? Consider career options in accounting.

Career #2 - Technical Writer
Wish you could be left alone with your thoughts a little more - and deal with people a little less? Consider pursuing a career as a technical writer and you just might get your wish.

Career #3 - Graphic Designer
Do you dream of spending your days alone with your creativity, uninterrupted by noisy coworkers or customers? Consider pursuing a career as a graphic designer and your creativity might get to flow without interruption.

Career #4 - Software Developer
Do you prefer the reliability of machines to the unpredictability of people? You might want to consider pursuing a career as a software engineer.

Career #5 - Medical Laboratory Technician
Are you happiest when you know exactly what you need to do, following specific instructions to the letter? You might want to consider a career as a medical laboratory technician.

Career #6 - Information Security Analyst
Do you like the idea of thwarting criminals before they can cause major damage - but don't want to deal with people face to face? Consider preparing to pursue a career as an information security analyst.

Via Yahoo!

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Exam Fees 2012

noreply@blogger.com (SamSeiko) — Sat, 25 Feb 2012 05:08:00 +0000

Guys, next exam the cost will be increased, as for me the price has increased from 81 pounds (June 2012) to 88 pounds (Dec 2012)...

Seems like the inflation rate reflected well in here....8% of increment for every sitting.

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Exam TimeTable for June 2012

noreply@blogger.com (SamSeiko) — Sat, 25 Feb 2012 01:05:00 +0000

Remind you guys that the Exam Entry Date is
8 March -> Early exam entry (payment by online only)
8 April -> Standard exam entry (payment by online and paper)
8 May -> Late exam entry (payment by online only)

Don't miss it!

11 June
F5 Performance Management
P7 Advanced Audit Assurance

12 June
F6 Taxation
P4 Advanced Financial management

13 June
F7 FInancial Reporting

14 June
F8 Audit and Assurance
P5 Advanced Performance Management

15 June
F1 Accoutnant in Business
F9 Financial Management
P6 Advanced Taxation

18 June
F4 Corporate and Business Law
P3 Business Analysis

19 June
F3 Financial Accounting
P2 Corporate Reporting

20 June
F2 Management Accounting
P1 Governance, Risk and Ethics

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Higher Education Bubble

noreply@blogger.com (SamSeiko) — Sat, 28 Jan 2012 10:39:00 +0000

There are two parts of this Higher Education Bubble, do check it out the link at the below for part 2. This is telling us why the education (tuition fees) is going to be the next bubble.

http://www.educationnews.org/higher-education-bubble/part-2/

Education News

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Happy Chinese New Year 2012

noreply@blogger.com (SamSeiko) — Wed, 25 Jan 2012 05:06:00 +0000

肖鼠
　　生肖鼠的五行为子水，金来生水，印绶坐实，水得金生，呈现旺势，水为财也滋养桃花，所以属鼠的朋友春节期间花钱也有节制，以防破财;感情稳定的朋友也需洁身自爱，以防因男女关系引起是非。
　　肖牛
　　生肖牛的五行为丑土，土来生金，食伤旺象，想法会比较多，人会变得多变多疑，加之泄土生金，自身力量减弱，需要预防健康和红外伤，还有失眠或精神不济的情况出现。
　　肖虎
　　生肖虎的五行为寅木，木来克土，金来克木，左右招架不住，易受到长辈的压力，但好在寅木为参天大树，所以春节期间一定要保证好充足的睡眠，也不要让工作或是其它事情打扰到过年时的好心情。
　　肖兔
　　生肖兔的五行为卯木，卯木是柔弱的花草之木，喜有阳木相依扶，金来砍伐，压力太大，容易造成情绪和健康上的波动，春节时间多和朋友在一起，不要独处，预防孤独侵袭而陷入自怨自哀的境地。

　　肖龙
　　生肖龙的五行为辰土，土来生金，食伤旺象，春节期间有口福，也容易想得太多，而且有结交到新朋友的机会，需要预防聚餐吃喝浪费钱财还有不要太在意别的眼光和话语。
　　肖蛇
　　生肖蛇的五行为巳火，是烛火阴柔之火，火来克金，以下犯上，春节期间家里的长辈如果唠叨，请当成善意的忠告，不要因为双方意见不和而产生冲突，破坏了团圆的气氛，注意破财隐患。
肖马
　　生肖马的五行为午火，是大阳纯阳之火，性格激烈，火来克金，春节期间有一定的财运，但是要知道十赌九输，牌桌上无常胜将军，所以小玩是可以的，千万不要专注于此。
　　肖羊
　　生肖羊的五行为未土，干燥之土，土来生金，食伤旺象，但月令丑土为湿土，未土中火呈弱势，因此春节期间的饮食一定要注意，不要大吃大喝影响到健康，此外本身或是长辈有心脏、心血管、高血压、眼疾的需要注意。
　　肖猴
　　生肖猴的五行为申金，春节期间五行土金两旺，土来生金，印绶和比劫坐实，行事易得人助，也会结交到不错的朋友，但需要注意的是交友要谨慎，认清本质，不要结交到一些酒肉朋友为好。
　　肖鸡
　　生肖鸡的五行为酉金，土金两旺的春节有利于属鸡的朋友，况且酉金与月令丑土半合，多有喜庆之事发生，也适合在此期间举行吉事，需要注意的就是春节期间仍需2011年，酉鸡得助，和太岁冲突得更厉害了，所以没事要多外出走动或是去亲戚家做客。
　　肖狗
　　生肖狗的五行为戌土，同生肖羊一样属于燥土，所以春节期间有心血管、高血压或是眼疾的朋友需要格外注意身体健康，况且土来生金，金旺土弱，与月令相刑，做事谨言慎行，不要强出风头。
　　肖猪
　　生肖猪的五行为亥水，金来生水，水代表财也代表桃花，春节期间花销和感情方面都需要注意，正行好运者注意破财伤感情，而单身的朋友有认识异性的机会。

Credit to:-
XingZuoWu

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Top 30 Audit firms in 2010

noreply@blogger.com (SamSeiko) — Sat, 21 Jan 2012 03:10:00 +0000

Happy Chinese New Year and Happy Holiday to all my readers :)

Recent survey done regarding the ranking of accounting firms, the below table shows their revenue in 2011.

Ranking Firm 2011 (2010) % change
1 PwC £909m (£893m) +1.8%

2 Deloitte £652m (£628m) +3.8%

3 KPMG £456m (£458m) -2.56%

4 Ernst & Young £444m (£403m) +10.2%

5 Grant Thornton UK £134.4m (£135.5m) -0.8%

6 BDO £91.1m (£91.7m) -0.7%

7 Baker Tilly £84m (£94m) -10.7%

8 Mazars £70m (£68.9m) +1.6%

9 RSM Tenon Group £70m (£52.7m) +32.8%

10 Moore Stephens UK £60.6m (£61.1m) -0.8%

11 PKF £57.8m (£59m) -2%

12 Crowe Clark Whitehill £30.6m (£28.3m) +8.1%

13 Haines Watts Group £29.2m (£26.6m) +9.8%

14 Kingston Smith £22.7m (£23.4m) -3%

15 UHY Hacker Young Group £22.4m (£22.2m) +1%

Top 30 Audit firms in 2015:
http://tarcafa.blogspot.com/2015/10/top-30-audit-firms-in-2015.html

Source: AccountingLive

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Let them know =)

noreply@blogger.com (SamSeiko) — Wed, 11 Jan 2012 00:01:00 +0000

Flood in TARC~Surprise?

noreply@blogger.com (SamSeiko) — Tue, 13 Dec 2011 12:30:00 +0000

CAN YOU GUESS WHERE IS THIS BLOCK??

My years of studying in TARC never encountered this before until today I saw the picture...

Photo taken by Kimi Soo

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

A good sleep before exam

noreply@blogger.com (SamSeiko) — Sun, 11 Dec 2011 05:49:00 +0000

1) Myth: Your brain rests during sleep.

Fact: Your body rests while you snooze, but your brain is pretty busy consolidating memories and cognitive function. Sleep is also thought to give neurons used while we’re awake a chance to shut down and repair themselves so that they can continue to function normally. But awake or asleep, the brain is on the job. You’re still breathing, aren’t you?

2) Myth: The more sleep, the better.

Fact: Getting too much—or too little—slumber is linked to higher rates of diabetes, high blood pressure, and heart disease, reports Harvard Medical School’s Division of Sleep Medicine. Also concerning is a 2009 study from Spain, which found that adults age 65 or older who typically slept nine hours or more (including naps) were at higher risk for dementia. And other research has suggested that habitually sleeping nine hours or longer is associated with depression, illness and accidents. Conversely, regularly snoozing less than six hours a night is a risk factor for obesity, which in turn can lead to a long list of health risks, including diabetes, high blood pressure and heart disease. For optimum health, aim for 7 to 8 hours of sleep.

3) Myth: If you can’t sleep or you wake up during the night, it's best to relax until you fall asleep.

Fact: Not being able to fall or stay asleep is a symptom of insomnia. Sleep experts say your best bet is to get up after 15 or 20 minutes, go into another room and listen to music or read until you feel drowsy.

4) Myth: Taking prescription sleeping pills is a path to addiction.

Fact: According to the National Sleep Foundation, today’s sleeping pills taken as directed are safe and effective treatments for insomnia and present a lower risk of dependency than yesterday’s medications. (Exception: individuals with a history of addiction or alcohol or drug abuse.) Just be sure that you can sleep for 7 to 8 hours before you swallow the pill.

For the rest of 4 myths(is there such thing as beauty sleep? Is it good to read or watch TV before sleep?) go visit source via Yahoo! 8 sleep myths by Lisa Collier Cool on Dec 08, 2011
IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Resource Audit (9M & 1I) under Internal Appraisal

noreply@blogger.com (SamSeiko) — Mon, 05 Dec 2011 16:02:00 +0000

This is the illustration I made while I was studying Internal Appraisal given by Parminder Singh!

Resource Audit talks about 9M and 1I.
-Machinery
-Money
-Materials
-Manpower
-Management
-Make-up (structures, coordination)
-Methods (Policies, procedures)
-Market/Products
-MIS (talks about 5Es)

Continue our revision for ACCA! Good luck!

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Can Facebook get you a job?

noreply@blogger.com (SamSeiko) — Thu, 01 Dec 2011 01:59:00 +0000

It is remarkable how Facebook affecting out life and to say the least, with iPhone now we can log on Facebook anywhere at anytime!

Heard of LinkIn? I'm surprised by the search showed my ex-employer's profile! The below picture will illustrate more detail....

Created by: MBA Online
IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

ACCA Exam Tips December 2011 (BPP)

noreply@blogger.com (SamSeiko) — Sun, 20 Nov 2011 14:31:00 +0000

Here comes the exam period again! Check out the below BPP tips.

F4
Q1 Statutory interpretation
Q2 Formation of a contract – consideration or intention
Q3 Tort of negligence – how the duty of care is breached
Q5 Debentures and charges
Q6 Appointment/termination of directors
Q7 Employment law - the employment contract/relationship
Other likely topics – breach of contract and remedies, company insolvency and Insider Dealing.

F5
Specialist Cost and Management Accounting Techniques: Environmental accounting techniques have not yet been tested under the new syllabus, so could feature. Throughput accounting featured numerically in June. ABC vs AC or target costing is also possible.
Decision making techniques: There is a trend for pricing to be examined with other areas of the syllabus, for example learning curves. Relevant costing, CVP, make or buy or other short term decisions could feature as dealing with risk and uncertainty and limiting factors have featured recently.
Budgeting: Discussion marks often focus on the appropriateness of budgeting types or the behavioural impacts of types of budgeting. Numerically it could be tested via time series as a forecasting method.
Standard costing & variance analysis: Variances are likely to feature in the exam, students should be prepared for mix and yield variances, planning and operational variances as well as the basic variances and operating statements. Questions typically require thought about the most appropriate layout and could include discussion of variances which have already been calculated.
Performance Measurement and Control: In June, there was a change in emphasis, with this being the first paper not to contain a question focusing on interpretation of performance and financial vs. non financial measures. Detailed knowledge could instead be required on any of the performance measurement tools. Transfer pricing has not been examined recently, so could feature.

F6
Question 1 will test income tax with maybe a VAT section attached as a separate part. The income tax will focus on a self employed individual with property income and some investment income. The VAT section could look at calculation of VAT payable, penalties and special schemes.
Question 2 will test corporation tax and could involve a long period of account, capital allowance computations for plant and machinery, computation of corporation tax payable and payment of tax.
Question 3 will test capital gains tax from an individuals’ perspective. This question will involve a number of different disposals involving entrepreneurs’ relief, part disposals, chattels and shares with a computation of capital gains tax payable. It is possible this question could alternatively involve a company disposing of shares.
Question 4 & 5 will test anything else. Possible topics that may be examined here are:
- commencement, cessation and change of accounting date rules for sole traders and partnerships
- inheritance tax testing the inheritance tax liabilities on lifetime gifts and as a result of the individual’s death.
- Group relief
- Overseas aspects of corporation tax
- Self assessment system
- Badges of trade
- Corporation tax loss relief

F7(International)
Q1: Consolidated SOCI and/or SOFP with one subsidiary plus associate with intragroup adjustments and fair value adjustments. May include written part on a group topic.
Q2: SOCI and SOFP preparation from TB or restatement with usual adjustments for depreciation, revaluation, current/deferred tax plus others such as leases/substance, financial instruments (change in FV or amortised cost). May include discontinued operation/EPS/SOCIE.
Q3: Interpretation and/or statement of cash flows. Could focus on specific part of SOCF or specific ratios.
Q4 & Q5: One question in context of conceptual framework, and the other containing one or two discrete topics, such as regulatory framework, inflation, government grants, discontinued operations, impairments, deferred tax, leases or intangible assets.

F8(International)
Q1 (30 marks)
This question will be based on a scenario and incorporate between 3 and 5 distinct requirements.
The areas most likely to be tested in this question include audit planning and the identification and explanation of audit risk, audit procedures (substantive tests and/ or tests of control) and internal control.
Q2 (10 marks)
This will be a factual or knowledge based question. It is likely to cover several areas of the syllabus with 2 or 3 separate requirements worth between 2 and 5 marks each.
Topics for Question 2 can be drawn from all areas of the F8 syllabus and questions could include the responsibilities of directors and auditors as well as other definitions such as audit risk, audit assertions, audit regulation and corporate governance.
Q3, Q4 & Q5 (20 marks each)
These questions will be scenario based but will also include some knowledge based requirements.
Areas which are likely to be covered in these questions include ethics, planning, the audit of specific transactions or account balances (including estimates), subsequent events, management representations, going concern, audit reports, internal control and corporate governance.
Note that the scenario may be set in the context of a profit making or non-profit making organisation.

F9
Important areas to cover:
WACC: - any element of the WACC could be tested, including cost of equity, preference shares & different types of debt, along with their corresponding market values & then putting all of this together to calculate the WACC.
Investment decisions: the exam normally contains a question involving net present value (NPV), often with tax and inflation. In order to discount the NPV, you may be asked to first calculate a weighted average cost of capital (see above)
Working capital: questions on inventory management and receivables management are likely. Ensure that you are comfortable with working capital ratios as you may have to be able to put these in reverse
Sources of finance: a topical area, we would expect a part question on financing problems covering gearing issues and problems companies. Ratio analysis is likely to feature here with discussion of the numbers calculated. Ensure you are comfortable with the calculations of the different sources of finance. Islamic Finance was new on the syllabus for the June 11 exam but was not tested. It is possible it may come up in Dec 11, though if it does, it should be straightforward knowledge for a few marks only.
Business Valuations: commonly tested and a core syllabus area. The examiner often combines different syllabus areas within the same exam question – for example asking you to calculate a cost of equity and then use it to value a company.

P1
In the long 50 mark scenario question you can expect to see all areas of the syllabus being tested. For this reason you should ensure that you have not neglected any of the broad syllabus areas of governance, risk and ethics. The topic of risk can be further subdivided between risk and control.
Some good areas of governance to look at are agency, stakeholders and directors’ remuneration.
Don’t neglect internal control reporting.
Ethical theories get tested regularly, and professional codes of ethics are an important part of the syllabus. The examiner did not touch environmental issues in the June exam – you should ensure you brush up on these too.

P2(International)
Q1: group SOFP and/or SOCI including discontinued activities, acquisitions and disposals or a statement of cash flows, plus adjustments on other syllabus areas such as financial instruments, pensions, share-based payment and impairments. Written part on a linked accounting adjustment and social/ethical/moral aspects of corporate reporting.
Q2 & Q3:2 case study questions, one following a theme such as non-current assets, deferred tax, foreign currency, financial instruments, pensions, share-based payment, the other an industry-based question testing a range of standards such as accounting policies and the framework, leases, grants, IFRS for SMEs, reorganisations, provisions, events after the reporting period and related parties.
Q4:discussion question e.g. revenue recognition, fair values, management commentary, improvements in performance measurement, leasing, including an application part with some computations.

P3
Important areas to cover:
Strategy models
Analysis of the environment and/or internal factors has featured in most exams. Key models include PESTEL, Porter’s Five Forces and the value chain. Expect something on forecasting soon.
Evaluation of strategic options is usually tested one way or another (although wasn’t in the last paper).SAF can be a useful framework to generate ideas but don’t feel you need to follow it slavishly.
Strategic action (largely change management and organisational configuration) is often overlooked, but has featured in the last two papers, emphasising the need for good syllabus coverage.
Business Process Change
A popular area, which may be based around models such as Harmon, or completely unstructured, describing a process and asking for improvements. Expect to see some numbers coming in to questions in this area to help with decisions such as automation and outsourcing.
Information Technology
A pervasive theme in many questions. Make sure you are comfortable with some of the more important recent concepts in technology such as cloud computing, viral marketing and new business models.
Project Management
This is a major topic and was not tested in the last sitting so may well be this time. Questions could well focus on analysis and realisation of benefits and again are likely to include a numerical element.
Financial Analysis
Lots of management accounting knowledge from F5 is assumed knowledge here, including budgeting, variance analysis and relevant costing. The lessons from Q1 in the last paper are that, 1) this may be in the compulsory question and 2) you may not be specifically told which techniques to use, but have to work it out from the data given.
People
This is most likely to be tested in conjunction with one of the other topics, as it was in the last paper.
Most importantly…
Knowledge alone will not get you close to a pass on this paper. You need to be able to apply your knowledge to specific situations. Practice this using past questions and stories in the press or on the web as often as you can and you will be ready for whatever the exam throws at you!

P4
Role and responsibility towards stakeholders:
Ethical issues continue to appear regularly as an optional discussion question, normally with practical financial issues from elsewhere in the syllabus. The discussion question is normally one of the easier optional questions.
Economic value added and ratio analysis can also be used to appraise the performance of a company.
Advanced investment appraisal:
The compulsory question often features an NPV question with an analysis of risk and/or financing; it could easily be set in the context of an overseas investment.
Cost of capital calculations are regularly tested, make sure that you are comfortable adjusting betas for differences in gearing. Real options are also a popular theme.
Acquisitions and mergers:
This exam normally contains a question involving valuations which the examiner sees as a crucial part of the syllabus; valuations questions are also likely to cover strategic and financing issues.
Corporate reconstruction:
A question could also ask you to evaluate a management buy out i.e. whether a business will be worth more if it splits itself up.
Advanced risk management:
We would expect to see a numerical risk management question featuring either interest rate or exchange rate hedging; currency hedging was tested in June 2011.

P5
Performance analysis:
The new examiner has indicated that his questions will require more skill in interpreting data and discussing strategies to improve performance rather than performing calculations. You may be asked to analysis performance vs budget to identify underlying problems that a company needs to address. This analysis could include the use of activity-based approaches, learning curves or non-financial performance measures.
‘Beyond budgeting’ is an important area that can be tested either as a discussion or a numerical question.
Performance appraisal requires effective information systems, expect to be asked to identify the key strategic, tactical and operational information requirements of a business.
Risk analysis:
Analysis of the risk of a new proposal could include numerical techniques such as expected values and probabilities; but strategic frameworks such as PEST analysis could feature here.
Strategic performance measures in the private sector:
Divisional performance measurement is another key area; ROI, RI , EVA, NPV or even cost of quality could feature here and transfer pricing could feature as an aspect of these questions.
EVA is especially likely given the recent articles published in this area – make sure you have read them. Modified IRR is new to the syllabus so make sure that you are comfortable with this area.
Reward systems:
HR issues are new to the syllabus from June 2011; the examiner is interested in the impact of reward systems on performance management.
Alternative views of performance measurement:
Questions are commonly set that require a good understanding of the balanced scorecard, the building blocks model and the performance pyramid. Questions will often require you to analyse data that has been collected using one of these models. The balanced scorecard and performance pyramid were tested heavily in June 2011.
Performance hierarchy:
Linking strategic decisions to mission statements or suggesting strategic options using models such as Ansoff’s matrix or the BCG matrix lend themselves to questions containing a mixture of financial and discursive elements that could easily include a simple NPV or profit analysis.

P6
Section A will involve two case study questions covering around 60-70% of the marks. One will be from a personal tax perspective and the other from a corporate tax perspective. Both questions will cover a range of topics and taxes and will require the construction of professional documents like reports/letters.
Section B will comprise 3 questions making up the balance of the marks.
Topics that may appear this sitting are as follows:
Liquidation
Group/Consortium relief
Close companies
Sole trader/partnerships
Inheritance tax versus capital gains tax
Property income
Enterprise investment scheme/venture capital trust
Termination of employment
Income tax losses
Personal service companies
Land and buildings aspects of VAT

P7 (International)
There are a number of areas that candidates can expect to see in their exam, such as:
•A risk-based planning scenario in the compulsory section
•Questions based on articles published in Student Accountant (although not necessarily from the last six months)
•A number of requirements asking for audit procedures and required evidence in respect of specific financial reporting issues and ISAs
•A practice-based scenario looking at professional, ethical and quality control issues
•A reporting scenario of some sort - probably testing candidates’ knowledge of either the various modifications to the standard audit report or other forms of communication available to the external auditor.
We would also recommend that candidates read the examiner’s report from the June 2011 exam (in the context of the June 2011 exam paper) and keep the following additional issues in mind as part of their revision:
•Don’t forget key brought-forward knowledge from Paper F8 which candidates have traditionally struggled with at P7(audit risk, audit procedures and audit reports).
•Candidates should also not forget about practice-related issues (such as the terms of audit engagements, sampling and documentation) where topics such as quality control procedures, ACCA firm practising requirements and the ethical implications of one firm providing both internal and external audit services could be discussed.
•The correct accounting treatment of complex issues, such as IAS 19 Employee benefits or a newcomer for 2011 IAS 21 The effects of changes in foreign exchange rates or even the associated issues of disclosure (such as IFRS 8 Operating segments or IAS 33

Thanks to PQ Magazine; "ACCA December 2011 exam tips" article.

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Everyone's growing up except Salary

noreply@blogger.com (SamSeiko) — Sun, 20 Nov 2011 11:52:00 +0000