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    • Profile photo of John Moffat says

      In future please ask this sort of question in the Ask the Tutor Forum, and not as a comment on a lecture.

      The only syllabus change is that although sources of finance for SME’s was already in the syllabus, the syllabus now specifically mentions business angels; government assistance; supply chain financing; and crowdfunding.

      These could already have been asked (but only as a written part – not calculations) – all he has done is make it a bit more specific.

  1. Profile photo of manonaseriousmission says

    Thanks as always for your videos… i have struggled watching this though – of course it’s nothing to do with the actual teaching as John (as well as the other OT team members) is ever brilliant. It’s this repeated problem with playback I’m encountering. I’m not sure if it’s the new uploading platform (vimeo) but each time i try to navigate backward or forward within the video time line, it displays playback error which never used to be this way…
    I’m Using google chrome so i am sure it’s nothing to do with me browser :(

    • Profile photo of opentuition_team says

      well, vimeo is a very good platform, and at least from this end, playback works 100% fine, clicking anywhere in the video timeline and it works..
      so not sure what could be the problem at your end, internet connection?

      • Profile photo of manonaseriousmission says

        You’re right. I have always found vimeo to be a good platform which was why i was a bit surprised. Well, I dont know why it wasn’t working well at the time but after trying it again a few times today, i can confirm that it is now working perfectly. Thanks for your response.

  2. Profile photo of laksmi says

    Thank you so much for the clear and concise lectures.
    Got through the financial management paper-icaew.
    Wouldn’t have been possible without you.

    Very grateful for all the help and effort that goes into these lectures.

    • Profile photo of John Moffat says

      No reason! It arrives at the same figure.

      For Paper F9 it is more important that you understand the logic rather than just learn a formula, so calculate it in whichever way you find most obvious.

  3. avatar says

    i have tried many ways watching the video,but i just can’t open it.to make it more clear,the place where the video should playing is all black.so what’s the matter,can anyone tell me?

    • Profile photo of John Moffat says

      If we knew the receivables at the beginning and end of the year, then we would add them together and divide by two to get the average. However we are usually only given them at the end of the year and so we have no choice but to use the end of year figures.

  4. avatar says

    Dear John,

    In the example, what is the difference of cost of goods and cost of production? Is my understanding correct – cost of goods is the total amount of goods purchased during a year. Cost of production is all the costs to bring raw materials to WIP (raw material+any expenses that are needed to bring raw materials to WIP)?

    • Profile photo of John Moffat says

      Half correct :-)

      Cost of production is the total of all the costs incurred in producing the goods.
      Cost of goods sold is the cost of those goods that were actually sold.

      (We do not sell everything we produce because some of them are still in inventory at the end of the year)

    • Profile photo of John Moffat says

      The lectures are not downloadable and can only be watched online. It is the only way that we can keep this website free of charge.
      (You can download and print the Course Notes that go with the lectures.)

  5. avatar says

    Hi Sir,

    I already printed the notes back in May 2014. In the syllabus guide, it says no changes except rearrangement of syllabus sections(section on cost of capital is now part of business finance section) Did you make any changes to the notes to reflect the aforementioned change or just updated the date to Dec 2014? If the notes(June 2014 one and current dec 2014 one) are 100% identical, then I won’t waste paper and ink to print them again. Thanks

  6. avatar says

    I’m unable to view lectures since yday and my Internet connection is ok as I can play videos frm other websites. Pls help. I used same internet connection to view d lectures same yday, trief opening d nxt one but couldn’t.

  7. avatar says

    Hello sir for the calculation we need to consider the credit sales and credit purchases since there is no clarification what is credit and what is cash sales how we will assume?
    In the question given just a Receivables but we need to consider the average receivables so how can e take avg receivables
    Plz advise me thanks in advance

    • Profile photo of John Moffat says

      You have to make the most sensible use of the information available.

      If you are not told the split between credit sales and cash sales, then you have no choice but to assume that all sales are on credit. The same applies to purchases.

      In a perfect world you would use average receivables and payables, but again, in the exam you must make the most sensible use of the information available and usually you are only given the receivables and payables at the end of the year.

  8. avatar says

    only Opentuition Notes are enough???…cuz when we compare these Notes to other texts(kaplan,bpp,emile etc etc),they seem nothing to them with respect to both,length and expandable explanation.However,other texts are much scary as well as compared to OT text.Please,put some light on it,plus,how to tackle with those giant texts and score good marks in theory?Give some tips. :)

    • Profile photo of John Moffat says

      Our Course Notes are not meant to be Study Texts (as we make very clear) – they are Course Notes to be used with the lectures.
      The notes and lectures contain enough to be able to pass the exam well, provided that you really understand them and provided that you practice lots of questions (preferably from one of the Revision/Exam Kits from one of the approved publishers).
      Best is to use the Study Text more as a reference book for any topics that you are unsure about after watching the lectures.

    • Profile photo of John Moffat says

      The cost of sales is the purchases as adjusted for opening and closing inventories.
      Just suppose you were buying 10,000 a month and you took one month to pay suppliers.
      That would mean that your purchases were 120,000 over the year, and that the year end payables were 10,000.
      However suppose that of the 120,000 you bought, only 20,000 were sold and the rest were left in inventory. That would mean that the cost of sales would be 20,000 and yet the payables would still be 10,000.
      You would not then say that payables days were 10,000/20,000 X 365 !!

      All of the calculations are only approximations for all sorts of reasons. In the exam you make the best use of the information available. If you are told credit purchases then this is the most sensible figure to use. In some questions all you know is the cost of sales, in which case you would have no choice but to use this instead. However, again, any answers are only a ‘rough guide’ and you should always make this point in your answers.

      • Profile photo of John Moffat says

        Chapters 1 and 2 really are more background reading and should be understandable from reading the course notes. They do not need a lecture (which would be little more than just reading the notes to you)!

      • avatar says

        The lectures are good, but the problem am from a very remote part of the World with limited access to internet. I dont hope to get any better internet connection any time soon given the location of my area. I only rely on USB modem connect. Please could you avail downloadable video just like you did with introductory part.

    • Profile photo of John Moffat says

      @nini234, There is enough to pass the exam, but the more reading you do the better. It is a good idea to at least get hold of a revision/exam kit which has lots of questions to practice (in addition to the past exam papers).

  9. avatar says

    I need to view the lecture on the go. can anyone assist on how i can view on my mobile phone. I use a blackberry 9800 bold 2. Keeps showing a message …..Oops the page you are looking for has moved.

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