~~~~~~~~~~~~~~~Motivation Quote~~~~~~~~~~~~~~~~ ~~~~~~~~~~Sometimes it takes a lot of rain before you get your rainbow!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~Just FOcus On The Key Topics That You Know And Ignore What You Don't!!!!!!~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~The glory is not in never failing but in rising again everytime you fall!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~YOU MAKE THE FAILURE COMPLETE WHEN YOU STOP TRYING!!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~
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Sunday, May 29, 2005

student accountant direct

the june issue of student accountant direct has come out.
if you have not subsribe to it, please go to this website to subsribe.
student accountant direct
anyone you need the student accountant direct for the may and june issue, please leave your e-mail here, or alternatively e-mail to me at
teechong_yap@yahoo.com
i'll send you my copy of the e- student accountant.

Saturday, May 28, 2005

BIM Anaylsis (June 05 Paper)

the following is the link for the BIM analysis for june 2005 from mr low kok han specially for tarcian
ACCA 3.4 PastYearAnalysis.doc

please click on the link to download the document.
The * in the right hand corner means topics which Mr Low thinks will come out in JUne 05 sitting

TO : THOSE GOIN TO SHU

During the previous week, I have managed to contact a few SHU staff that will be playing important roles during our stay there. They have replied to some of my queries via email. Below are some of the matters highlighted that I have summarized from their replies.

ACCOMMODATION ISSUE
Students will be staying at Norfolk Park in the ‘Student Village’. Each student had been allocated to specific hostel randomly. The list of occupants for each hostel has been prepared without students given the privileges to choose their housemates. This applies to all other Bachelor Degree programs. Reason being pre-selection of housemates by students, causes tremendous amount of admin work prior to students’ arrival in the previous years. Furthermore, everything changes again when students reached SHU.

Enough of the bad news as I understand that each of you wants to stay with your group of friends. So, good news is students will get to change their room and units again when they reached SHU by informing the related office staff at Norfolk Park when they are there. Nevertheless, students will have to occupy the allocated room first for a few days or probably a week or two upon arrival before switching to their desired room and unit. This is due to the admin processing time as approval is pending.

What I will do is, prior to departing from KLIA, I will pass down a list for all the Bachelor Degree in Accounting and Finance’s students to write down who they would like to stay with as we are waiting at the airport. If possible, try to get a group of 5 to 8 persons in a group as your housemates now. This will make my work easier and faster as I pass down the list. However, I can’t confirm that the Norfolk Park’s staff will be using or process the list that we have prepared. When I reached SHU, I will discuss with the admin staff there again with regard to the switch of room and will try to get them process everything for us real soon. Anyway, there is a very high possibility that you will certainly be staying with your group of friends. It is just a matter of how long to get everything processed and approved. So, DON’T WORRY….

There are beddings, kettle, microwave and cooking utensils in each house at Norfolk Park. However, students may bring theirs if they want to.

VISA ISSUE
There is no need to obtain a student visa as we will be entering UK simply as like any traveler visiting UK which has 6 months validity. Nevertheless, please make sure that your passport has at least 6 months validity from the time of your arrival in UK. Do MAKE SURE too that your Unconditional Letter of Offer is with you upon arrival as it is an integral part of the immigration process in UK. The 6 months period clearly covers the 14 week summer top up and time for a short trip around the UK or Europe at the end of the course (if you are interested).
Anyone intending to stay on for the Masters course starting in September 2005, kindly inform me real soon. Further information on the Masters course is available at www.shu.ac.uk/tarc.

TEXTBOOKS ISSUE
For those of you choosing Corporate Finance as your optional paper, the core text is as below :
Title - Corporate Finance: Principles and Practice (Third edition 2004)
Authors - H D Watson and A M Head (both SHU tutors but not actually taking the module this summer)
Publisher - Financial Times/Prentice Hall
ISBN 0273 68356X
Price 32-99 GBP

According to Mr David Kyle, the above core text could be found at Kinokuniya book store at KLCC. Other book stores, I am not sure.

There is no textbook for Financial Decision Making (compulsory module).

As for the remaining other 2 modules, no further information at the moment. I will keep you all updated.

teechong comment: maybe you wait until next week when the book seller come in and you can get from them at a price which is much much more cheaper than those available at the book stores

BANK ACCOUNTS
Those of you who intend to open a HSBC bank account in UK, you may do so as letters have been prepared by SHU for your convenience to open the bank account there. However, it is advisable to open up a HSBC or any foreign bank (subject to availability of ATM machine of that foreign bank in Sheffield) account in Malaysia. The procedure of opening a bank account in UK is going to be very tedious.

Any doubts kindly SMS me at 017-4799892. Thanks!

Khai Nien

Thursday, May 26, 2005

sfm focus topic for internal resit

focus on the following topics:
WACC
Dividend growth model
Other company valuation models
Theory on merger and acquisition
Estimating discount factor, alpha value, understanding security market
line (SML)
Corporate governance
Interest rate swaps
Different types of diversification/growth strategy

disclaimer: the above topic are just a guide line for those who are resiting the internal exam. please do not mention anything to mr tho regarding this information. thanks.

do hope this information from one of the coursemate would help you all and truely hope to see you during the july convocation.

Friday, May 20, 2005

important accouncement for those who are going to SHU

Below are some of the matters to be highlighted b4 departing for SHU :

1. Pay the remaining balances of your air ticket and collect it once it is ready. (MAS Airlines - full price at RM2772 which are subject to changes in airport taxes and prices quoted by different agents)

2. Highly recommended to purchase an insurance policy. Do remember to collect your policy from your agents and bring it together to UK.

3. For those whose passport had expired, renew your passport as soon as possible.

4. Buy a bank draft amounting to 2496GBP issuing it to 'SHEFFIELD HALLAM UNIVERSITY'. Highly recommended to buy the draft in Malaysia and bring it to UK as the bank charges in UK will be in GBP which eventually will be very costly when converted to RM. Do consider Bumiputra Commerce or RHB as the charges is the lowest in the market. Exchange rate for GBP now is quite low, so buy it as soon as possible.

5. Highly recommended to open a savings account with any foreign bank in Malaysia. Preferably HSBC as there are 10 HSBC branches in Sheffield. Your parents may then bank in your living expenses anytime to your HSBC Account in Malaysia without incurring any high charges as in using TT. Take your ATM card to UK to withdraw your living expenses from the ATM machine there. Charges per withdrawal in UK is RM5 (lowest charges as compare to method as in TT which is the highest, or depositing a bank draft into your UK bank account whereby you will incur bank charges in GBP on depositing). By using this method, you then wont need to open a new bank account in UK as withdrawal can simply be done through ATM machine there. Opening a new bank account in UK requires tedious procedures and it takes time for the bank account to be activated. Further enquries do refer to the officers in the respective foreign banks. For HSBC, u will need an introducer to open new bank account in Malaysia.

6. Alternatively, you may choose to buy a bank draft or travellers' cheque on the whole lump sum of your living expenses in UK and bring it to UK. You may then open up a new bank account there and deposit the bank draft or travellers' cheque into the account. You will thus only incurred an initial charges in GBP on opening the bank account and one off charges on depositing your bank draft. Travellers' cheque will be charged 1% on the amount you bought. Estimated living expenses for the duration is 1000GBP (not inclusive of Tour subsequent to the completion of the course).

7. As for the stuff that you will have to bring to UK, do seek advice from seniors.

Any further enquiries, kindly contact me at 017-4799892 (until 16th June 2005) / (60)12-4470074 (M'sian hp. no. used in UK) or email me. Those using MSN Messenger, u may add me at tkhai_nien@hotmail.com or Yahoo Messenger at khai_nien@yahoo.com or ICQ at 24993236. I will try my very best to help out.

See ya then at convocation (if you do attend) and all the very best in your ACCA Exams!
Khai Nien
special message from Khai Nien...
tee chong have no comment.

Thursday, May 19, 2005

May student accountant

the may edition of student accountant had arrived in the sbs office.
please go and college if you are going back to the college.
and you should check out the relevant article related to the papers you are sitting.

Resit for core paper... attention.... please see lecture at the following time

please help to spread the following news:
paper 3.6 Advanced corporate reporting
Miss Chin Yoke Fong
Please see miss Chin on
20 May (tomorrow)
10am

the venue should be at her room.

paper 3.7 Strategic Financial Management
Mr Tho
general guidance would be given by mr tho on topic to study.
date 24 May (tuesday)
9 am
dkz
.

paper 3.3 Performance Management
Miss Karen
please see miss Karen on the following date
date 24 May (tuesday)
11 am
vunue miss Karen's room. (the room with her name on the door)
.

paper 3.5 strategic business palaning and development
Ms Ng
most likely ms ng would not give any guidance on the following resit.
but it would be advisible for you to refer to her notes.
anyway, you could try your luck to see her in the college to see whether she would be willing to give any guidance if her mood is good.

all the best..
hope to see you during the convocation

tips june 2005 paper 3.1 Audit & Assurance Services

source:- BPP
Section A
Questions 1 and 2
Scenario questions in the context of audit risk/business risk.
May also include:
• Control suggestion and/or evaluation
• Audit evidence on Paper 2.5 accounting areas (see Q3)
• Group audit issues (including audit work on fair values)
• Planning/practice management/quality control issues
• Assurance services
try out: 14 Signet, 24 Alakazam, 25 Amber Pan Europe, 44 Azure, Q2 Mock 1 Imperiol

Question 3
Audit evidence. Comment on the matters you would consider and the audit evidence you
would expect to find as audit manager conducting a review of audit files.
Likely to be several scenarios covering various Paper 2.5 level accounting standards, e.g:
• Earnings per share
• Borrowing costs
• Revenue recognition
• Standard costing
• Impairments
• Deferred tax
• Discontinued operations
• Intangible assets
• Related party disclosures
try out: 34 Aspersion, 35 Phoenix, 37 Alphasweeter, Q3 Mock 2 Visean

Section B
Question 4
Part (a): Any syllabus area. Part (b): A related question on reporting.
try out: 53 Capri, 54 Arid, Q4 Mock 1 Cinnabar

Question 5
Ethics, professional and quality control issues scenario question.
try out: 3 Aventura, 5 Isthmus, Q5 Mock 2 Corundum

Question 6

Discussion question on current issues, e.g:
2 of 2
• Money laundering (make sure you read the examiner's recent article as likely to be
examined!)
• International convergence
• Audit exemption for small companies
• Risk-based auditing
• Corporate governance
• Laws and regulations
try out: 1 Assurance provision, 6 Convergence, 51 Environmental issues

Relevant Articles
The examiner, Kim Smith, has written many articles and expects you to have read them and know them.
She often comments that students fail for not having read the articles explaining how to tackle questions.
Read as many as you can, particularly the following:
Money laundering, 4 February 2005
Revised group auditing standards 29 Oct 2004
'Professional ethics – a kloser look', 30 April 2003
Reporting on reports on reporting 23 Apr 2003
'Divided opinion' (auditors' reports), 5 November 2002
'Tackling the 'Discussion' question', 1 November 2001
'Technique in auditing questions – part 2', 17 October 2001
'Technique in auditing questions', 4 September 2001
'Audit and assurance services', 27 July 2001
'Rest assured' (assurance), 1 June 2001

source: LVMT
• Business risks/financial statement risks
• Audit planning and audit strategy
• Audit implication of accounting standards; FRSs 10, 11, 12 and 15 are of particular relevance
• Comment on suitability of audit opinion involving going concern
• Comments on ethical and professional issues involving confidentiality/non- compliance with laws and regulations
• General discussion on money laundering and its implication on the responsibilities/liabilities

Source: FTC UK
• Risk analysis and audit strategy … possibly with Money Laundering thrown in to the case study
• Assurance Services - Performance measurement / prospective financial information
• Accounting treatments / Materiality / Audit evidence –applied to 3 scenarios – covering usual FRSs – 3, 8, 10, 11, 12, 15, 18, 21
• Audit reporting – First-Time Application of IFRSs in the UK
• Professional / Ethical Issues or Practice Mamangement – Quality Control
• Current Issues – SOX / Liability / Money Laundering


Source: FTC S'pore
Lecturer - Mr Rhys Johnson

Q1:Risk assessment and implications of an acquisition for the conduct of an audit. Group audits
Q2:Approach to an assurance engagement - engagement process, planning, procedures. Will include “how to audit” certain specified balance sheet or income statement items. Possibly PFI.
Q3:Three accounting issues - discussion of matters (accounting treatment, risks, materiality and reporting) and audit evidence. Provisions, impairments, asset valuation, RPT's are all favourite topics
Q4:Audit report - suitability of the audit report in the specified circumstances
Q5:Ethical and professional issues – likely to focus on independence, quality control, publicity, fees
Q6:Discussion question - possible topics are environmental reporting/international standards/ corporate governance/independence and the provision of other services

Money laudering will feature at some point in the examination –
most likely Q6.

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.3 Performance Management

source:- BPP

Section A
Question 1
The longer question is likely to feature some short term planning (e.g. budgeting), requiring a statement of profit or costs. It may include analysis of relevant costs and the scenario will be a substantial length. The discursive elements will draw on the scenario to illustrate models (e.g. strategic planning) and/or candidate’s own experience.
try out: 55 Fork Lift Trucks, 61 Privmed, 62 Motor Breakdown Services

Question 2
The second, usually shorter question, will cover either numerically calculations (e.g. costing) with a short discursive requirement or this part of the exam may be used to test performance measurement using KPI’s as well as more traditional performance targets.
try out: 45 Eatwell Restaurant, 41 Management Accounting and the Public Sector

Section B
It seems likely two questions will be wholly discursive, following more numerical emphasis in section A.
• If performance management hasn’t appeared in section A, a 20-mark question could
be inserted in this section.
try out: 30 Mission, 48 Internal and External Factors

• Modern Management Accounting Techniques within a scenario or specific industry
could require candidates to apply their knowledge.
try out: 20 Shipping Industry, 9 Stock Alternatives

• Finally numerical topics that could appear: learning curve, risk and uncertainty,
divisional performance (RI and ROI)
try out: 69 Producing NV3, 72 Stow Health Centre


Source: FTC UK
• Contribution based decision-making
• Practical aspects of pricing policy
• Performance evaluation – financial v. non-financial & business v. non-business
• The strategic framework
In addition to the above, the examiner has still not examined in any great depth the
content of the articles he has written for the students’ newsletter

Environmental management accounting – Jan 2004
http://www.acca.co.uk/publications/studentaccountant/107348

JIT & backflush accounting – Apr 2004
http://www.acca.co.uk/publications/studentaccountant/1143053

Management control – Sept 2004
http://www.acca.co.uk/publications/studentaccountant/2244397


Source: FTC S'pore
Lecturer - Mr Saminathan

1. Case study with CVP analysis & learning curve included to measure
financial performance.Other non financial indicators could also be
included to measure performance of a service business.
2. Divisional performance measures and rewarding of managers in
divisions.
3. Management control & budgeting in private & public sector.
4. Risk analysis in decision making.
5. Theory question on modern developments in MA & building
sustainable cost advantages.
6. Knowledge of strategy & gap analysis could also be included as
part of a question.

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.4 Business Information Management

source:- BPP

Section A
The examiner tends to provide fairly lengthy case studies, which provide information about the business strategy, the IT history to date and the current situation. As you are likely to be dealing with an organisation that needs to make decisions about its IT systems and strategies, questions are often based on strategic models and approaches from the syllabus.
Questions in the June 2005 exam could ask you to analyse an organisation's current position regarding its IT, perhaps using a model such as Porter's value chain (Q11). In order to tackle this type of question, you need to be able to recognise the relevant business strategy in order to make appropriate IT suggestions. Questions 51 and 52 are excellent ones to practice on this.
A key area that all students must focus on is how to develop a business case for Information Technology. IT facilitates business decisions, and the examiner is likely to ask you to analyse the key business issues. A key model to understand and use is ‘Where We Are, Where We Want to Be, Going to Get There’, and it would be useful to review the first BIM exam paper set.

There could also be questions asking you to improve a project or development that is
experiencing problems (Q26, Q28)
Another key to review would be the human and social issues relating to IT development, and the syllabus lists several change management theories, such as Lewin, which have yet to be examined.
Exam technique is extremely important in this paper, so working through as many case
studies as possible is to be advised. Questions 64-66 are the questions from the examiner's pilot paper.

Section B
Section B questions could come from anywhere in the syllabus, and there are often questions which focus on one particular theory. The examiner also uses these questions to get candidates to bring in 'real-life' examples, to illustrate theories, so be sure to have at your fingertips some examples which you can use, either from your own experience, or perhaps from other exam scenarios and questions which you have used. There is also usually one question with a mini-scenario that can be a good one to choose, as you have a context to work with. The examiner also uses section B to test knowledge about specific types of technology.
Key theories that need to be understood are those of Nolan, Parsons, Porter, Earl and
Zuboff, and reviewing past BIM papers can be extremely helpful to see the style of questions on these areas.
Key areas to cover in depth are as follows:
• E-commerce is an area that usually appears on information papers ((Q8)
• The human impact of IT has not yet been examined extensively (Q31 &32)
• Knowledge management is an area that may be prominent in future exams (Q5)

Source: FTC UK
• Strategy –application of an IS/IT/IM strategy in the context of a scenario
• Porters 3 generic strategies in relation to the development of e-commerce systems or the Internet
• Knowledge management – problems of knowledge sharing and solutions within a business context – perhaps relating to knowledge and data workers
• Data warehousing and data mining – problems of amalgamating company wide databases to facilitate data sharing
• Value chain – identification of IS to support the value chain along with an explanation of its importance to the development of business strategy
• Legacy systems and risk – based around the article in the March Student Accountant - could be linked to the decision to outsource the development to reduce the risk.
• Lewins model and managing change – the application of the model and how problems can be reduced in relation to policies which address behaviour.
• PEST analysis – application of information within a scenario to determine the internal and external issues affecting the business – further development within
section b) of the question to improve the current position.
• Reasons for the development of strategy and alignment issues – core topic area – yet to examine the reasons for the development of an IS strategy – alignment issues could be linked to one of the above models g value chain
• Globalisation
• Eis
• ssm


Source: FTC S'pore
Lecturer - Mr Alex Watt

• Linking IS/IT strategy to business strategy (Note: this is the core topic of the syllabus)
• Web based technology – internets, extranets, intranets
• Applying IS/IT for competitive advantage – five forces, value chain and generic strategy models
• PEST
• Outsourcing
• Data warehousing and data mining
• Lewin’s model for change management
• Legacy systems
• Project risk

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

Wednesday, May 18, 2005

tips june 2005 paper 3.5 Strategic Business Planning and Development

source:- BPP
Section A
Always difficult to predict the subject matter of the case scenario, and in December it was
rather unusually based around the control and management relationships within a large group
structure of a manufacturing company. Therefore this time it might be something less complex
in structure and based on the service sector.
Areas that could be included within the requirements could include
• A discussion of the relative merits of different ways of making strategy
• Stakeholder analysis and objective setting
• Application of strategic analysis models
• Evaluation of strategic objectives, using the numbers included
• Marketing issues
try out: 52 World-Wide Agricultural, 51 Bethesda Heights, and 50 Playwell.

Section B
• Marketing, including new product development. In part suggested by the recent article
but also due the lack of marketing in the December 2004 exam.
try out: 24 Westport University, 26 Karaoke, 27 Product Launch, and 34 Sports Centre

• Change management. This is feasible this time because it is an important subject,
which has been absent for the past few sittings.
try out: 20 Apex Culture, and 49 Lionel Cartwright.

• Globalisation strategy. The strategic development of global businesses was very
popular when the paper was first introduced. It remains relevant and could be due
another appearance.
try out: 41 Excalibur Sportswear, 42 Global Marketing, 43 Clothing Supply Company and 48 ALG Industries

• Ethics and corporate social responsibility. With all of the talk (and recent cases) of
corporate scandal ethical behaviour is a very topical area of the syllabus
try out: 16 Digwell, 17 Large Financial Services Company, and 18 Acquisition

Relevant Articles
E-commerce ~Jim Stone, May 2005
The role of the accountant in new product development - Ralph Bedrock (the examiner),
January 2005


source: LVMT
The examiner for this paper is Ralph Bedrock, although relatively new to this position has proved to be his own man. He has examined topics that can be considered to be ‘unfamiliar’ such as business-to-business marketing (B2B), new product development (NPD), and corporate governance.
Having said that, he hasn’t deviated from the core aspects of a strategy paper so there is no cause for panic. In his examiners’ feedback, he expressed concern on the issue of time management and examination techniques and said the two ‘often proved to be the difference between candidates who passed and those who marginally failed’. So what can we expect this time:

• Stakeholders - using the Mendelow matrix
• Internal analysis for strengths and weaknesses with more emphasis on value chain and/or BCG matrix
• Environmental analysis using the PEST in a multi-national environment
• Globalisation - ‘Ethnocentrism’, ‘Polycentrism’ and Geocentrism
• Marketing - the role of the accountant in NPD
• Strategic options and evaluation - Porter and Ansoff
• Dangers of implementation
Finally, we cannot over emphasise the importance of understanding the core aspects of strategic management: strategic analysis, choice and implementation. Most of the questions tend to be from these areas, so get ready.


Source: FTC UK
• Ethics
• Evaluate the importance of international issues including competition, management and regulation.
• Discuss ways in which conflict between centralised control and individual creativity can be managed.
• Structure
• Marketing
• Evaluate current position
• Evaluate the tools which can be used to influence behaviour in the work place


Source: FTC S'pore
Lecturer - Mr Rhys Johnson

• Strategic management approaches – rational, emergent
• Strategic analysis – PEST, 5 Forces, BCG, Value Chain
• Stakeholder mapping
• Strategic options – Ansoff’s matrix, vertical integration
• Marketing mix
• Change management
• Quality and culture
• Human resource management – recruitment, motivation
• Accountants role in new product developement

Any of the questions may be set in a global business context.


Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.6 Advanced Corporate Reporting

source:- BPP

Section A
The section A question can be on any of the traditional higher-level group accounting topics
that are not examinable in paper 2.5. Complex group structures or disposals of subsidiaries
appear to be the most likely topics having not appeared for quite some time.
(Questions: X Group, Wright)

Section B
Section B questions tend to range over a number of topics and may include:
• International reconciliations and the continuing attempts to bring about international
harmonisation. IFRS 1 on First time Adoption of IFRS has already been examined but
could reappear due to its topicality.
• “Mixed” questions can include a wide range of new and longer-established areas of
accounting. Issues relating to recognition and impairment of tangible and intangible
assets have been a recurring theme along with provisions and retirement benefits.
• Accounting for financial instruments could be tested.
• The new standards on share-based payment could be tested in numerical detail.
• Performance and valuation measures and how these are affected by accounting
policies often appear in the ACR exam.
(Good questions for practice on these areas include: Impairment of assets, Finaleyes, retirement Benefits, Vacs, Low Paints (Q2 within Mock Exam 2 in the UK kit), Desolve, FREDs 23 and 30)
• A discussion question looking at current developments in corporate reporting. Social and
environmental reporting can appear here as well as business ethics, and reporting on the
internet.
(Questions: Glowball, Mineral)

Relevant Articles
IAS 39, Graham Holt, May 2005
First-time adoption of International Financial Reporting Standards, Steve Scott, January 2005
Improving standards, Graham Holt, August 2004
Disposal of non-current assets and presentation of discontinued operations, David
Towers, April 2004

Group accounting: associated companies and negative goodwill, Steve Scott, April
2003

Convergence of UK GAAP to IAS : Group accounting, Steve Lawrence, December 2002
A review of recent FREDs, Graham Holt, September 2002
Convergence of UK GAAP to IAS : Part 3, Steve Lawrence,September 2002
Convergence of UK GAAP to IAS : Part 2, Steve Lawrence, September 2002
Convergence of UK GAAP to IAS : Part 1 Steve Lawrence, July 2002
Deferred tax, Paul Robins, July 2002

source: LVMT
Consolidated balance sheet including adjustments for accounting errors when applying recent standards

Leases including sale and leaseback arrangements, the differences between IAS 17 and SSAP 21 and the discussion paper on leases

Events after the balance sheet date (FRS 21/IAS10)
Earnings per share (FRS 22)
Joint ventures and associates (FRS 9/IAS28& IAS31)
Investment properties (SSAP19/IAS40) and Government grants
A combination of different standards in one question possibly involving FRS 15, FRS 23, FRS 24, SSAP 25, FRS 11, etc
OFR, Corporate governance and environmental reporting
FRSs 22 through 26, with emphasis on the changes to current reporting
Finally, ensure you thoroughly understand the basic principle underpinning a broad spectrum of the syllabus. For this you MUST fully appreciate the usefulness of the Statement of Principles and its applicability to the elements of financial statements.

Source: FTC UK
Group Income statement - with disposals / complex group structures / associates
or Group Balance sheet - with accounting adjustments
Share based payments
Accounting standards in a case study situation e.g. Pensions, EPS, deferred tax.
International issues (again!)
Corporate Governance and CSR

Source: FTC S'pore
Lecturer - Mr Saminathan


1. Computational question on group accounts.
- piecemeal acquisition
- vertical consolidation
- disposal of subsidiary
Look out for adjustments related to financial instruments & goodwill impairment .

2. Issues related to FRS 21 especially hedging for investment in a foreign entity.
3. Issues related to fixed assets - impairment of assets with reversal of impairment losses,intangible assets with finite & infinite life.
4. Issues related to FRS 12 - deferred tax.
5. FRS 105 Discontinuing operations
6. FRS 19 - Retirement benefit & share based payments.
7. Issues related to consolidation & groups could be a full question.
8 . Environmental reporting & human capital management
Also FRS 39 issues could be included as part of any of the issues
above

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

tips june 2005 paper 3.7 Strategic Financial Management

source:- BPP

Section A
Question 1 may feature a question on mergers & acquisitions. This could include valuations based on several techniques as well as changes in shareholder wealth post-merger.
Try out: Q34 Oakton, Q35 Minprice

Question 2 could revolve around interest rate management, specifically hedging.
Try out:Q56 Projections, Q58 PZP

Section B
Subjects likely to feature include:
• Adjusted Present Value - Q32 Strayer
• International Financing - Q61 Trade Blocs, Q62 IMF, Q63 Beela
• Dividend Policy - Q76 Serty, Q77 Tigger
• Corporate Objectives - Q1 Stakeholders, Q2 International Corporate Governance

source: LCA

• Acquisition decision/MBO
• Foreign exchange risk
• Capital structure
• Investment appraisal/FDI
• Interest rate collars

Source: FTC UK

Section A:
1) Merger and Acquisitions - Company Valuation (NAV, DVM and P/E Methods) and Management Buy
Outs. Share for Share exchange, Going Private.
2) Risk management - Interest rate risk / Currency Risk
3) Overseas NPV - including the measurement of past performance and ethics.
4) Investment Appraisal - WACC, Risk adjusted WACC, The management of cash flows.

Section B.
1) Dividend Policy/Term Structure of Interest rate
2) Portfolio Theory and CAPM – summary and alpha tables
3) International economics – I.M.F., Political Risk, Foreign Exchange Rate Systems, Balance of payments deficits. Control of foreign subsidiaries, Treasury Management.
4) The Black Scholes Option Valuation Model – the application of the Put Call Parity Rule

Source: FTC S'pore
Lecturers - Mr Nicholas Blain/Mr Saminathan


- Mergers & Acquisitions, Restructuring
- Valuations
- International investment appraisal
- Interest rate risk and hedging (futures/options)
- theory of CAPM
- Capital structure, inc Modigliani & Miller
- Corporate governance
- WTO and free trade
- International trade risks

Health Warning! The examiners deliberately try to avoid question spotting. Just because a question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to have a good look at, but remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

BPP tips

ACCA Paper 2.4 - Financial Management & Control
Section A

The compulsory section A of the exam has focused on investment appraisal or working capital in the past. As Investment appraisal was the main topic of December 2004’s exam it is likely that working capital will come up in June.
• Stock management (EOQ and JIT systems) – Q95 FRANTIC, Q58 JIT and EOQ
• Cash flow forecasts – Q88 (a) JACK GEEP, Q92 AMBER PLC

Section B

In section B of the exam there will be two questions on Financial Management (one of which will be on investment appraisal). The other two questions will be on areas from the Management Accounting section of the syllabus.

Net present value (NPV) calculations - Q70, Q80 BENLAND, 87 WATER SUPPLIES LTD 93 SPENDER CONSTRUCTION

• Sensitivity analysis - Q77 BURLEY PLC
• Capital Rationing - Q82 Filtrex, Q83 PI
• Sources of equity - Q62 Burnsall, Q63 Newsam
• Mix and yield variances - Q20 Hairdressers


ACCA Paper 2.5 - Financial Reporting
Section A

Section A will comprise of one compulsory question that will examine group accounting. Group accounting is a core area and this question could ask you to produce a consolidated balance sheet and/or income statement (profit & loss account) and usually includes a related discussion element.

Section B

Section B will comprise four questions out of which candidates should select three questions. The examiner, Steve Scott has stated that the style of the paper would remain fairly static:

Question 1
The first question will be preparation/restatement of an income statement (profit & loss account) and balance sheet. It could also include a statement of changes in equity (reconciliation of movements in reserves note). This question normally requires adjustments for depreciation, tax and dividends. Others may relate to debt factoring or other substance over form issues, finance leases, financial instruments, share issues and inventory (stock) valuation. There may be further disclosure requirements re discontinued operations or an earnings per share calculation.

Question 2
The second question will be a written question examining theoretical/conceptual areas or accounting standards. This could be on tangible or intangible assets, impairments, accounting policies or leases with reference to the Framework for the Preparation and Presentation of Financial Statements (Statement of Principles).

Question 3
The third question is likely to examine interpretation and/or cash flow statements, and may include discussion of why, for example, related party or discontinued operations disclosures are useful.

Question 4
The fourth question has no specified format or content and will cover other areas of the syllabus. The examiner frequently includes a mixed bag question, which examines three or four different accounting standards. Possibilities this sitting are: IFRS 1, governments grants, substance over form issues, accounting policies or financial instruments.

Relevant Articles
First time adoption of International Financial Reporting Standards - Steve Scott


ACCA Paper 2.6 - Audit and Internal Review
Please note that there is a new examiner this sitting.

Internal audit/ Internal review – Following the new examiner’s recent article on how the internal audit department can assist in corporate governance and risk management, it is possible that this area could be tested, although articles are not frequently examined in this paper. Note that in addition to a specific question on internal audit or reviews conducted by internal or external staff, the question could be in the form of a report to management on control weaknesses with recommendations, very similar in substance to that produced by an external auditor (see Systems and Controls below)
(try out: Q7 Internal Auditors, Q8 Roxy Hotels)

Substantive testing – This will be in the exam, but what will be tested? In December 2004 substantive testing of payroll balances was tested (Q4). In June 2004 inventories (stock) (Q3) and payables (creditors) and accruals (Q4) came up. In December 2003 payroll audit was tested (Q2). In June 2003, Inventories (stock) (Q2) and provisions were tested (Q3). In the December 2002 exam, payables (creditors) (Q3) and inventories (stock) were tested (Q5). In June 2002 cash was tested (Q2) and in December 2001 receivables (debtors) were tested (Q4). That would appear to leave non-current (fixed) assets, bank/cash and receivables (debtors) as likely candidates for examination this time round. (P&R kit practice: Q38 Springfield Nurseries, Q43 Goodfoot & Q45 Villawood Computers)

Systems and controls – Again this topic will be included in the exam in some format. In December 2004 Q3 risks from a scenario had to be spotted, and controls recommended. In June 2004, they came up in the context of outsourced catering and payroll (Q5). In December 2003 controls over payroll were tested in Q2 and Q1 included controls over business risks in the areas of human resources, procurement and marketing. In June 2003, controls over non-current (fixed) assets were tested (Q6). In the December 2002 exam the sales system was tested (Q2). In June 2002 the cash system was tested (Q2) and in December 2001 Purchases/ capital expenditure were tested (Q3). Any of these could come up again: the purchases/payables and sales/receivables systems looking the most likely. (P&R kit practice: Q32 Cosmo & Q27 Internal Control Systems)

Planning and risk assessment (from a scenario) – risk in one form or another comes up at every sitting. It is one of the key stages of the audit, but can also be examined in the context of a company's business risk as it was in June 2004. In December 2004, Q2 was centred around planning and the information you require, and Q1 was about spotting the risks of fraud and error. (P&R kit practice: Q17 EWheels & Q18 Nepco)

Professional ethics – This is a core area not examined at the last 2 sittings. It is still a topical issue with all of the recent corporate collapses bringing the independence and professionalism of their advisors into question. Recently, confidentiality came up in December 2003 (Q6), conflicts of interest in June 2003 (Q3) and objectivity in December 2002 (Q1). Any independence issues would be ripe for examination again at this sitting. (P&R kit practice: Q10 Billington Travel & Q11 Manly).

Audit/ Assurance Reports – This is a very important area of the syllabus, it is deliverable from the end of all assurance engagements. You also need to be aware of the differences between internal audit reports/ external audit reports and other assurance reports such as review reports. It has been tested in December 2003 (Q3 b and c), June 2003 (Q3c and Q5), June 2002 (Q3b) and December 2001 (Q5), but not in the last few sittings. (P&R kit practice: Q54 Audit and Review Reports, Q55 Cremorne)

Parts of questions – The following topics could form discrete parts of questions at this sitting: fraud, management representations, audit regulation, materiality, e-technology (see article below) so make sure you are up to speed on these areas.
Relevant Articles
The following articles can be found in the Student Accountant magazine (or ACCA website)

The regulatory environment, Alan Lewin, 4 January 2005
Audit risk in a brave new world, Namasiku Liandu, 30 September 2004
Confirmation as audit evidence, Graham Cosserat and Katherine Bagshaw, 28 October 2003
Electronic technology and the auditor, Katherine Bagshaw, 25 June 2003
Service organisations, Katherine Bagshaw, 26 March 2003
Internal audit and review reports, Katherine Bagshaw, 29 January 2003
Corporate governance in the 21st century, Namasiku Liandu, 30 September 2002
The independence of accountants, Namasiku Liandu, 10 June 2002.
The role of internal audit in risk management, Katherine Bagshaw, 1 March 2002.
Technique in auditing questions, Kim Smith, 4 September 2001
Audit and internal review, Katherine Bagshaw, 1 June 2001


Health Warning! The examiners deliberately try to avoid question spotting. Just because a
question featured last time, doesn’t mean it won’t feature this time. Use the tips as areas to
have a good look at, but remember that no one knows what is in the exam, apart from the
examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the
examiner aims to do in the exam.

info regarding payment of air ticket to shu

those who pass shu must go their travel agent to pay de air ticket already... cos 1mth b4departure must pay d fee, else they wont issue d air ticket.... if those fail, call & cancel d ticket... print out d result & take receipt to get back d deposit
payment can
1) by cash
2) by bank in
3) by credit card
those pay by credit card will be charged 3 % extra
those who travel with MSL....
mas air ticket is RM2760 by cash
please pay the fees as soon as possible
because the travel agent must wait ALL of us pay then only they would issue the air ticket

PS: i'm just help passed this message to those who are going to shu and i'm not responsible and not clear about any details.thanks

Tuesday, May 17, 2005

Exam docket

you should be able to received your exam docket by this week
and if your exam docket is with the office please collect from the office.

and please remember to change your address for the acca corespondent if you have not changed it.
(since we are no longer studying in tar college, you can change back to any address which you prefer. your hometown or any place you could receive corespondent from acca)
you can change it via the acca website which is more convinent or you can write to acca to change your address.

Closing date of convocation application

please take note of the following matters:-

Date exam results released 17 May 2005

Deadline for Resit Application /
dealine for convocation application21 May 2005

Collection of Resit Bill 24 May 2005

Deadline for Payment /
Convocation for May 28 May 2005

convocation

for those who are going for the may 28 convocation,
please go to the admin block to collect your letter to attend the convocation.
you have to prepare bank draft RM 125 for the rental of gown and also the convocation fees.
in additional you would have to prepare annother bank draft amount to RM 300 for the deposit of the gown.
the closing date/due date for the convocation would be on the 21 May 2005.

Saturday, May 14, 2005

Tips again -source LCA

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - LCA UK)
PAPER 1.1 Preparing Financial Statements
Cash flow
Company accounts
Partnerships
Ratios
Accounting concepts

PAPER 1.2 Financial Information for Management
Pricing
Fixed overhead variances
Regression
Overheads TAC v MC
Relevant costs

PAPER 2.1 Information Systems
Feasibility study
Implementation of systems
Packages v bespoke systems
Protyping and case tools
Programme testing

tips again - source LVMT

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - LVMT UK)

PAPER 2.2 Corporate and Business Law (UK)

Delegated legislation and EU law
Consideration
Terms and exclusion clauses
Redundancy
Creation, duties and powers of agents
Partnership and limited liability partnership
Veil of incorporation
Classification of companies
Increase and reduction of capital
Appointment, powers and duties of directors
Minority protection
Winding up

PAPER 2.4 Financial Management and Control
Financial management objectives
Management of working capital (financing types, debt factoring/discounting, cash and stock)
Sources of finance (equity and debt)
Capital expenditure and investment (NPV, IRR, capital rationing, borrow or leasing options)
Decision-making (product mix, make/buy decisions)
Standard costing and variance analysis (mix and yield variances, operating statement)
Budgeting and budgetary control (production budget, cash budgets, rolling budgets, top-down/bottom-up)

Thursday, May 12, 2005

Kwai fatt june 2005 3.2 irc

those who are taking kwai fatt's irc please take note that you can collect kwai fatt's irc notes from today on wards at systematic.

prepare yourself for 3.2 revision clas with kwai fatt's revision notes.

SBS E-journals for sale

there would be e-journals which regards on activities and photo of students in sbs,
for sale during our first convocation on 28 MAY 2005.
the price is RM4.00
you can grab it during the day of the convocation.

Wednesday, May 11, 2005

Tips again.... source FTC uk

The following are the tips from the net till date.However, do hope that you take note that all the tips are based on the lecturer's best guess, it is just for reference and should not be over-concentrated and over-relied.

(source - FTC UK)


1.1 Preparing Financial Statements
SECTION A (50 %)
25 Multiple choice questions
Will cover all areas of the syllabus

SECTION B (50%)
Longer questions – will include theory and computational questions.
Five compulsory questions will need to be attempted. Each question will carry between 8 and 12 marks,
• Preparation final accounts of a partnership/ company
• Non current assets ledger accounting
• Correction of errors and suspense accounts
• Cash Flow Statements
• Ratios and interpretation
• Accounting theory, Concepts & Standards

1.2 Financial Information for Management
The paper will consist of 25 MCQs of 2 marks each and 5 long questions of 8-12 marks each. The MCQs will vary in difficulty, but the variety will ensure that the paper reflects the syllabus. The five long questions will be a mix of (mostly) calculations and (some) written marks. The vast majority of the marks in this paper will be for calculations.
The nine key areas of the syllabus will make up the bulk of the exam paper:
• Cost classification and behaviour.
• Material, Labour and Overhead costs.
• Absorption and Marginal Costing.
• Process Costing.
• Standard Costing (includes variances).
• CVP analysis (includes break-even).
• Pricing Methods.
• Relevant Costing
• Limiting Factors and Linear Programming

1.3 Managing People
Primary Tips:
• Classical and modern theories of management and structure
• Authority, responsibility and delegation
• Effective Communication Practices
• Objective setting; performance indicators
• Recruitment and selection – Job Description and Person Specification
• The Learning Process – Mumford and Kolb
1.3 Secondary Tips:
• Culture, change and the effect on existing structures
• Management of Diversity/Equal Opportunities
• Individual, Groups and Team behaviour
• Controlling conflict and greivance


Paper 2.1 - Information Systems
Managing information systems
Strategy – short question perhaps relating to reasons for the development of strategy or alignment
IT opportunities – general question in the context of a case i.e. how an organisation may use technology to enhance its position
Costs and benefits – could be a compulsory question relating to the classification of cost and description of an appropriate method to evaluate economic feasibility
Legacy systems – although the March article of for 3.4 and makes no reference to 2.1 in the header useful to read – no past exam question
Project management – potential for a theory question similar to J03 relating to the creation of a plan for the improving time management – also consider terms of reference and PQP.
Designing information systems

Methodologies – explanation of the various development approaches including waterfall, spiral and hybrid – also consideration of the benefits of each approach
Techniques – potential question on either entity modelling or entity life histories.
Case tools – discussion in relation to improving management of the design process, perhaps linked to prototyping and external design.
Evaluating information systems

Security – any aspect but viruses, remote access and legislation seem to be key issues
Quality assurance – and the V model and the improvements which result
Metrics – discussion of the creation to standards to evaluate the success of the systems – perhaps also the explanation of weighted ranking or bench marching.

Paper 2.4 - Financial Management & Control
Investment Appraisal - to include inflation, tax, relevant cost. May be lease Vs buy, possibly capital rationing.
Working Capital - All aspects of working capital – including cash budget, stock and debtors. May also include cash management since the Miller Orr formula has ‘appeared’ on the formula sheet.
Ratios -Could be part of working capital, or more focused towards general evaluation of a company, including long term finance
Budgeting - may include cash budget as above, possibly some forecasting (especially regression)
Performance measurement -possibly divisional performance evaluation, may include index numbers to appraise performance.

Paper 2.5 - Financial Reporting
INTERNATIONAL

CBS and CP&L
Published accounts,EPS ?(maybe restatement or something bit different to normal IS and BS)
Interps (but don’t neglect cashflow)
Substance/IAS37
IFRS 1

Paper 2.6 - Audit and Internal Review
Ethics - Independence and Conflicts of Interest
Planning - assessing audit risks
Internal Controls - sales/purchases
Substantive Testing - stock, fixed assets
Review of audit - going concern
Audit reports - practical scenarios
Internal Audit - role in corporate governance / business risk analysis

Disclaimer : All the above are reproduced materials,all the copyright remained to the original sources and i shall not take any responsibility towards the accuracy and reliance on the tips.

Tuesday, May 10, 2005

3.4 and 3.5 article

3.5 article regarding e-commerce
the 3.4 and 3.5 subject co-ordinator had written an article on e-commerce.
just have a glace trough the article and see what you could possibly benefit from it.

3.6 article on IAS 39 by the examiner

please check out the examiner article on IAS 39 / MASB ED 35 financial instrument :recognition and measurement
IAS 39 financial instrument

article on paper 3.2 (mys) by the examiner

please be aware that there is an article relating to Investment holding company which might be something which is not 'alien' for those who study the paper 3.2 (mys)
just go and have a look at the article and hope it would be an useful guide.
investment holding company

10 ways to: beat exam nerves

There’s no getting away from it. Sitting your exams can be a stressful experience. However, there are strategies you can employ which will help you cope. We asked you for your top tips, and here are some of the best.

1. Think positive
A positive mindset can do wonders for your confidence in the exam hall. Matt Holden, ACCA course manager and management tutor at Reed advises: ‘When you start getting those exam nerves and negative thoughts you have to counter them with positive thoughts. Tell yourself that you are going to pass the exam. A positive mindset will improve your chances, so why not?

Make sure you have done the right kind of studying – this doesn’t mean just reading notes all day and night, you must also practise past exam questions. If you are unable to complete any part of a question when answering a past paper, don’t just ignore it – phone a friend, or better still, contact your tutor. Remember that if you find a question difficult, it’s likely that other candidates will too.’

Fifteen minutes before the start of the exam, instead of spending time worrying about the next three hours and what the exam questions will be about, get your brain warmed up. Go over a few of the basics in your mind – get yourself tuned into the subject.’

Girish Samtani, a Part 3 student from Singapore, agrees: ‘It’s never easy to manage exam stress but a positive approach and not fearing exams is where you should start. It’s all about attitude.’

2. Relax
Many students will be familiar with that shaky, nauseous feeling you can sometimes get as you enter the exam hall. But there are ways you can ease these feelings. Victor Zhou, a Part 3 student from Shanghai, has these tips for controlling anxiety: ‘Before entering the exam hall, I feel very nervous, even though I know I’m well-prepared. Try to breathe more slowly and deeply, and say to yourself: ‘Take it easy, just relax’. You’ll find the anxiety often passes quite quickly and you can concentrate on the questions.’

3. Be prepared
The best route to confidence in the exam hall is knowing you’ve prepared as much as you can. ‘Know a bit about every topic in the relevant module,’ advises Esinam Baeta, an affiliate from Ghana. ‘This way you will feel confident enough to talk about any topic relevant to the question.’ Question spotting is not recommended. Know your way around the syllabus.

4. Keep in time
Keeping track of time in the exam hall can be difficult when you are concentrating on completing your exam. Part 3 student Deonarine Gopaul from Guyana suggests a way to avoid this: ‘I plan the exact time that each question should be finished. This stops me panicking in the exam, wondering whether I’m going to finish or not.’

5. Keep it healthy
There are certain types of food and drink that will help you think clearly during your exam. Drinking water before you go helps, but don’t drink too much otherwise you’ll be going to the toilet all the time. Keep a small bottle of water on your desk to keep yourself hydrated as the exam progresses. Make sure you have something to eat at least an hour before the exam starts so you don’t get disturbed by hunger pangs. But be careful not to eat too much as this can make you sleepy. ‘Drinking herbal tea, especially camomile, can help you relax before an exam,’ points out Part 3 student Claude Licari from Malta. ‘Coffee and caffeinated drinks may stimulate you, but this doesn’t last long and you’ll end up feeling tired.’

6. Treat yourself
Arrange something fun for after the exam. There’s nothing more you can do if you haven’t got any more exams to sit – so why not relax? Shane Honey, a Part 2 student from the UK, says: ‘I find that arranging a treat after an exam is good to reward myself for all the effort I’ve put into studying. This helps to reduce my worries of performing well in the exam as I have the treat to look forward to. For example, last year I met my daughter afterwards and we both went ice-skating and then to a cafe.’

7. Keep it to yourself
Even though it’s tempting to talk to other students as you prepare to enter the exam hall – sometimes it isn’t the best policy. ‘On the actual day of the exam refrain from discussing the syllabus with other students. You might discover that you didn’t cover certain areas, and as a result will needlessly panic before the exam,’ says David Mwonzora, a Part 2 student from Zimbabwe.

8. Keep busy
Before your exam, worrying and thinking too much about what is ahead of you can sometimes make your anxiety worse. An ideal way to combat this is to take your mind off it by finding something to do. Apollon Leontas, a Part 2 student from the UK, offers the following advice: ‘Take a walk in the park, or try drawing or painting to reduce stress and relax your mind. Half an hour of physical exercise is also another way to release tension. Lying down and listening to music can also be a great way to keep your mind off the exams.’

9. Ask for help
‘If you have one, meet with your tutor to discuss topics you don’t understand,’ says Tasha Campbell, a CAT student from Jamaica. To get maximum benefit, summarise your knowledge of the syllabus and check if there is anything missing or anything you don’t understand. Do this a couple of weeks before the exam, then arrange to see your tutor and make notes from their advice. Then make sure you include it in your revision sessions so it’s all fresh in your mind before your exam.

10. Get together
If you can, revising in a group can really help, and will remind you that you’re not the only one facing the exams. ‘Instead of revising alone get together with a group of friends,’ says Maham Farooqui, a Part 1 student from Pakistan. ‘Try and meet weekly and set targets for the following week, for example choose two subject areas to study. Then you can test each other and all attempt past paper questions on those topics. This helps to make you feel really confident.’

adapted from acca student accountant
acca student news letter

Friday, May 06, 2005

tips june 2005 (tax 3.2 mys)

Spotted topic:
1) IHC
2) RPGT
3) J/A & Partnership
4) Co-op
5) Islamic Instrument (also hv 2 know the BBA's Cap Allowance computation)
6) Personal Finance (savings, epf planning, planning thru unit trust, shares)
7) S/A Individual vs Co
8) Settlement
9) Trust

Possible incentives:
Acquisition of foreign owned company
Increased export for service sector
Cost of developing website, Rosettanet, approved offshore trading.

PR1/2004 --> S.4(d) should be treated as 1 source i.e follow the Multipurpose case and do not follow the PR1/2004 treatment of S.4(d) i.e do not separate S.4(d) to 3 sources

PERSONAL TAXATION,
a) Resident status
b)Exemption on Employment Income - 60 days, gratuity, compensation for loss of employment, dual employment contract
c)Joint Assessment
d) Personal Finance - saving shares, unit trusts, EPF Planning
e) Partnership
f) Business ventures - sole/ partnership/ sdn bhd
g) settlement
h)Trust

RPGT -
A) RPC,
B) PARA 3 b,
C) Exchange,
D) para 17
E) para 12
F) Administrative

Islamic Instruments -
wadiah, BBA, Ijara, HP vs Leasing

Tax Administration -
a) self assessment individual, co,
b) evasion, incorrect return,
c) record keeping
d) tax agent, auditor liabilities,
e) capital statements.
f) public ruling,
g) fraud, wilful default, negligence,
h) anti tax avoidance

Tax planning for company -
a) dividends imputation,
b) utilisation of unabsorbed CA + losses,
c) acquisition of company and biz,
d) S.44 (8) and S34
(6), e) rental income S.4(a),
f) Tax Audit and investigation,
g) stamp duty - computation and exemption
h) controlled transferred - interest exp, withholding tax, S4A, 107A and permanent establishment

Specialised Industries -
a) property developer,
b) investment holding,
c) close end fund,
d) leasing

Special organisation -
a) co-op,
b) club,
c) charitable institution,
d) trade association

Investment Incentives -
a) acquisition of foreign owned co,
b) proprietary rights,
c) approved food production,
d) increased export for service sector,
e) pioneer status,
f) infrastructure allowance,
g) R&D,
h) approved offshore trading

the above are tips from choong kwai fatt.
special thanks to mei mei for providing the tips.
thanks again.

Thursday, May 05, 2005

tips june 2005 source FTC S'pore

exam tips
1) source acca communities ~~ACCA Malaysia

Paper 2.1 - Information Systems
Lecturer - Mr Edwin Ee

- IS Management : outsourcing
- IS Management : Legacy systems
- IS Management : make versus buy
- IS management : cost centre / profit centre / corporate overhead
- Feasibility Study : financial techniques – ROI, payback, DCF
- Feasibility Study : economic / technical / social / operational
feasibility
- Project management : project quality plan / role of project manager
- Project management : risk management
- Project management : network diagrams / gantt charts / project mgnt
software
- SDLC : structured approach / waterfall vs spiral
- Structured Techniques : ELH / Case Tools / 4th GL / Prototyping
- Maintenance : Change control procedures
- Quality assurance : what quality steps ? / V-model
- Quality assurance : adoption of standards
- Systems evaluation : metrics : methods for measuring system
performance
- Computer security : threats / types of controls
- Computer security : disaster recovery planning
- Computer security : Data Protection Act

Paper 2.4 - Financial Management & Control
Lecturer - Mr Nicholas Blain/Mr Saminathan/Ms Lee Pei Yee

Q1 Case study
Investment appraisal
- Relevant and non-relevant costs
- Lease or buy
- Advantages of each appraisal methods
- Discuss other non-financial factors

Q2 - Q4
Management accounting
- Budgets, forecasting techniques
- Performance measurement
- Activity based costing

Financial management
- Objectives of stakeholders
- Raising finances: debt vs equity
- Rights issue
- Share valuation
- Factoring



Paper 2.5 - Financial Reporting
Lecturer - Mr Roy Goh/Mr Saminathan

1. Consolidated Balance sheet with fair value adjustments and other
interco. adjustments.FRS 31 Joint ventures could be included with
proportional consolidation.
2. Published accounts - Income statement & balance sheet with
adjustments on - leasing, revaluation of assets, deferred
tax,provisions & financial instruments.
3. FRS 18 -revenue recognition issues together with other substance
over form issues.
4. FRS 7 - Cash flow statement - possibly direct method with ratios
included.
5. Mini std. questions
- FRS 8 & FRS 35/FRS 105
- FRS 33 - EPS
- FRS 12 - deferred tax



Paper 2.6 - Audit and Internal Review
Lecturer - Ms Helena Johnson

Alan Lewin is a new examiner. He has not been responsible for any of
the 2.6 papers to date and as a result it is impossible to identify
the topics that will be examined in June.

I suggest you focus your revision on the key syllabus areas:

(a) Professional ethics especially the specific guidance in respect
of independence
(b) The use of the audit risk model by external auditors
(c) The role of the internal auditors in risk management and
corporate governance
(d) The control objectives and internal control procedures you would
expect to find in the sales, purchases and payroll systems.
(e) The substantive tests used to gather audit evidence in respect of
the five balance sheet assertions, especially in relation to
inventory, accounts receivable and accounts payable.

Corporate governance is a particularly important topic as Alan Lewin
has recently moved it from the 3.1 to the 2.6 syllabus.

Other topics to consider include:

(a) The concept of materiality
(b) The use of analytical procedures during the planning, evidence
gathering and review stages of the audit process
(c) The use of computers to increase efficiency
(d) Engagement letters, management letters and management
representation letters
(e) External audit reports
(f) The responsibilities of auditors and directors in respect of
events after the balance sheet date, the going concern assumption,
fraud, error and non compliance with laws and regulations
(g) The advantages and disadvantages of outsourcing the internal
audit function

Remember Alan Lewin is very keen to examine your understanding of the
audit process rather than simply your knowledge. Therefore you must
be prepared to handle practical scenario based questions.

Tuesday, May 03, 2005

mr CHONG GEOK CHUANG's revision class for june 2005 sitting

The followings are details of Mr. CHONG GEOK CHUANG's revision class in TARC:-

datetime and venuetopic discussed

9.5.05
Monday

2.00 p.m.- 6.00 p.m.
DK6
Real Property Gains Tax,
Real Property Co.
10.5.2005 Tuesday2.00 p.m.- 6.00 p.m.
DK6
Cross-border transactions & activities:
Permanent establishment, Unilateral relief, Bilateral relief, Withholding taxes, NR Relief, subsidiary company & branch,Residence status of co., dividends,S.108 tax credit, exempt account
19.5.2005 Thursday2.00 p.m.- 6.00 p.m.
DK6
Investment tax incentives :
Pioneer status, Investment tax allowance, Re-investment allowance, Infra-structure allowance Labuan offshore Co., Investment holding Co., Unit trust.
20.5.2005
Friday
2.00 p.m.- 6.00 p.m.
DK6
Tax planning, anti-avoidance, transfer pricing, control transfer, market value
26.5.2005 Thursday2.00 p.m.- 6.00 p.m.
DK6
Individual taxation,
employment income, business income, personal investments, Combined assessment
Pubic Rulings

27.5.2005
Friday

2.00 p.m.- 6.00 p.m.
DK6
Specialised industries &
Special persons (selective)

The time-table may be subject to change(s) as where and when necessary

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