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		<title>OpenTuition.com Free Accountancy Education &#187; All Posts</title>
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		<pubDate>Wed, 19 Jun 2013 22:32:17 +0000</pubDate>
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					<guid>http://opentuition.com/topic/my-wife-a-chartered-accountant/#post-19576</guid>
					<title><![CDATA[My wife &#8211; a Chartered Accountant.]]></title>
					<link>http://opentuition.com/topic/my-wife-a-chartered-accountant/#post-19576</link>
					<pubDate>Sat, 20 Sep 2008 16:49:23 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>Why wait for others lets be proactive here is the one !!    <img src="smileys/wink.gif" width="" height="" alt=";)" title=";)" class="bbcode_smiley" /> </p>
<p>When I told my mom that I wanted a professional woman as my wife, she got me one; a Chartered Accountant. <br />She uses LIFO method while taking out the refrigerated food. She thinks I am no good at figure work. Fine with me, for now she handles the budget of the house. <br />Initially she used to send me a bill at the month end, but when I told her that I am not her client but her husband, she asks for the money in advance. The expenses had been rising steadily over the months, so one day I snooped into the papers maintained in a current file. <br />No wonder! She was charging conveyance and overtime to the house budget. <br />She is crazy, I tell her but she corrects me. “No my darling, I am the auditor.” I fail to see the light. <br />Every scrap of the paper in our house is filed. <br />She tells me as per some Ordinance she must keep a copy of every thing for at least ten years before destroying it. <br />I am worried. <br />Not a long time back my brother’s wedding was to be solemnized. Wedding cards had been sent. After some time I started receiving a steady trickle of letters. I was puzzled until my wife explained that <br />external evidence was more reliable. She had called for confirmations from all those to whom cards were sent. <br />When she cooks, my wife at times does not go by recipe. Where the recipe says add half-teaspoon vinegar, one tsp black salt or one teacup of water, she ignores them. She says that they are not material <br />when taken in context of whole meal being prepared. <br />She is crazy, I tell you. Surprisingly everybody calls her an auditor, instead. I checked the dictionary and it did not state that auditor is a synonym for crazy. The dictionary must be outdated. <br />When we got married, she had given me an Engagement Letter and I Had said how cute-how sweet.Now she gives it to me every year saying that her standards state that it must be sent anew if there is any indication that I have misunderstood the objective and scope of engagement. Huh! <br />Apart from sending me the engagement letter once again she says I can’t get rid off her just like that. She says that she has the right of being heard before I appoint some one else.  It seems I must keep reading one local and another English newspaper published and circulated in the vicinity of our house for more details. Phew! For a minute, I thought that we had jeopardized our going concern status. Duh! Dare I say so?? <br />I am told by one of my female colleagues who is married to a CA that the scenario is even worse when the guy is a CA. Apparently he capitalised the wedding expenses as preliminary expenses and is writing it off every year. </p>
<p>Also the time he spent dating his wife before marrying her is still under consideration for valuation under AS-26&#8230;valuation of intangible assets. <br />So guys please think twice&#8230;.should u really marry a CA? And yes please discount it by the appropriate rate to arrive at the present value of the risk of doing so !!!</p>
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					<guid>http://opentuition.com/topic/wise-examiner/#post-20090</guid>
					<title><![CDATA[Wise Examiner]]></title>
					<link>http://opentuition.com/topic/wise-examiner/#post-20090</link>
					<pubDate>Thu, 23 Oct 2008 06:17:36 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>4 students didn’t study for the test which was scheduled for the next day. </p>
<p>In the morning they thought of a plan. They made themselves look as dirty and disheveled as they could with grease and dirt. </p>
<p>They then went up to the examiner and told him that they had gone out to a wedding the night before and on the way back the tyre of their car had burst and they had had to push it all the way back, so they were in no condition to sit the test. </p>
<p>The examiner was a just person so he said, &quot;OK you can have a retest after 3 days.&quot; They promised they would be ready by that time. </p>
<p>On the third day they appeared before the examiner again.  He told them that it was to be a special condition test and all four were required to sit in separate rooms  for the exam.  They all agreed, as they had prepared well in the last three days.  The test consisted of 2 questions with a total of 100 marks. </p>
<p>Here are the questions:-</p>
<p>Q1. Write down your name.  (2 marks) </p>
<p>Q2. Which car tyre burst? (98 marks)</p>
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					<guid>http://opentuition.com/topic/ethics/#post-20100</guid>
					<title><![CDATA[Ethics]]></title>
					<link>http://opentuition.com/topic/ethics/#post-20100</link>
					<pubDate>Thu, 23 Oct 2008 08:07:06 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>A partner is discussing ethics policy with the staff accountant.  He says &quot;We take ethics very seriously around here.  Remember, we are professionals not businessmen.&quot;  The young staff accountant is impressed.   The partner elaborates &quot;Yesterday I received a check from a client.  It paid $5,000 more than our bill.  Immediately an ethical question arose, shall I tell it to other partners?&quot;</p>
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					<guid>http://opentuition.com/topic/story-about-monkeys-and-what-you-can-learn-from-it/#post-20030</guid>
					<title><![CDATA[story about monkeys and  what you can learn from it&#8230;.]]></title>
					<link>http://opentuition.com/topic/story-about-monkeys-and-what-you-can-learn-from-it/#post-20030</link>
					<pubDate>Wed, 29 Oct 2008 07:06:52 +0000</pubDate>
					<dc:creator>student33</dc:creator>

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						<p>Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort.</p>
<p>The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again. But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching. The man increased his price to $25 each and the supply of monkeys became so sparse that it was an effort to even see a monkey, much less catch one.</p>
<p>The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf. While the man was away the assistant told the villagers, &#8216;Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.&#8217;</p>
<p>The villagers rounded up all their savings and bought all the monkeys. They never saw the man or his assistant again and once again there were monkeys everywhere.</p>
<p>Now you know how the stock market works&#8230;</p>
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					<guid>http://opentuition.com/topic/cow-economics/#post-20704</guid>
					<title><![CDATA[Cow Economics]]></title>
					<link>http://opentuition.com/topic/cow-economics/#post-20704</link>
					<pubDate>Fri, 21 Nov 2008 02:38:52 +0000</pubDate>
					<dc:creator>student33</dc:creator>

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						<p>SOCIALISM<br />You have 2 cows.<br />You give one to your neighbour.</p>
<p>COMMUNISM<br />You have 2 cows.<br />The State takes both and gives you some milk.</p>
<p>FASCISM<br />You have 2 cows.<br />The State takes both and sells you some milk.</p>
<p>NAZISM<br />You have 2 cows.<br />The State takes both and shoots you.</p>
<p>BUREAUCRATISM<br />You have 2 cows.<br />The State takes both, shoots one, milks the other, and then throws the milk away…</p>
<p>TRADITIONAL CAPITALISM<br />You have two cows.<br />You sell one and buy a bull.<br />Your herd multiplies, and the economy grows.<br />You sell them and retire on the income.</p>
<p>SURREALISM<br />You have two giraffes.<br />The government requires you to take harmonica lessons</p>
<p>AN AMERICAN CORPORATION<br />You have two cows.<br />You sell one, and force the other to produce the milk of four cows.<br />Later, you hire a consultant to analyse why the cow has dropped dead.</p>
<p>ENRON VENTURE CAPITALISM<br />You have two cows.<br />You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank,  then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows.<br />The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company.<br />The annual report says the company owns eight cows, with an option on one more.<br />You sell one cow to buy a new president of the United States , leaving you with nine cows.<br />No balance sheet provided with the release.<br />The public then buys your bull.</p>
<p>A FRENCH CORPORATION<br />You have two cows.<br />You go on strike, organise a riot, and block the roads, because you want three cows.</p>
<p>A JAPANESE CORPORATION<br />You have two cows.<br />You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk.<br />You then create a clever cow cartoon image called ‘Cowkimon’ and market it worldwide.</p>
<p>A GERMAN CORPORATION<br />You have two cows.<br />You re-engineer them so they live for 100 years, eat once a month, and milk themselves.</p>
<p>AN ITALIAN CORPORATION<br />You have two cows, but you don’t know where they are.<br />You decide to have lunch.</p>
<p>A RUSSIAN CORPORATION<br />You have two cows.<br />You count them and learn you have five cows.<br />You count them again and learn you have 42 cows.<br />You count them again and learn you have 2 cows.<br />You stop counting cows and open another bottle of vodka.</p>
<p>A SWISS CORPORATION<br />You have 5000 cows. None of them belong to you.<br />You charge the owners for storing them.</p>
<p>A CHINESE CORPORATION<br />You have two cows.<br />You have 300 people milking them.<br />You claim that you have full employment, and high bovine productivity.<br />You arrest the newsman who reported the real situation.</p>
<p>AN INDIAN CORPORATION<br />You have two cows.<br />You worship them.</p>
<p>A BRITISH CORPORATION<br />You have two cows.<br />Both are mad.</p>
<p>AN IRAQI CORPORATION<br />Everyone thinks you have lots of cows.<br />You tell them that you have none.<br />No-one believes you, so they bomb the **** out of you and invade your country.<br />You still have no cows, but at least now you are part of Democracy….</p>
<p>AN AUSTRALIAN CORPORATION<br />You have two cows.<br />Business seems pretty good.<br />You close the office and go for a few beers to celebrate.</p>
<p>A NEW ZEALAND CORPORATION<br />You have two cows.<br />The one on the left looks very attractive</p>
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					<guid>http://opentuition.com/topic/sleeping-on-the-job/#post-22280</guid>
					<title><![CDATA[Sleeping on the job]]></title>
					<link>http://opentuition.com/topic/sleeping-on-the-job/#post-22280</link>
					<pubDate>Thu, 18 Dec 2008 01:54:52 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>Things to Say If You Get Caught Sleeping At Your Desk<br />1.&quot;They told me at the blood bank this might happen.&quot; </p>
<p>2.&quot;This is just a 15 minute power-nap like they raved about in the last time management course you sent me to.&quot; </p>
<p>3.&quot;I wasn&#8217;t sleeping! I was meditating on the mission statement and envisioning a new paradigm!&quot;</p>
<p>4.&quot;This is one of the seven habits of highly effective people!&quot; </p>
<p>5.&quot;I was testing the keyboard for drool resistance&quot; </p>
<p>6.&quot;Actually I&#8217;m doing a &quot;Stress Level Elimination Exercise Plan&quot; (SLEEP) I learned it at the last mandatory seminar you made me attend. </p>
<p>7.&quot;I was doing a highly specific Yoga exercise to relieve work related stress.&quot; </p>
<p>8.&quot;Darn! Why did you interrupt me? I had almost figured out a solution to our biggest problem.&quot; </p>
<p>9.&quot;The coffee machine is broken&#8230;.&quot; </p>
<p>10.&quot;Someone must&#8217;ve put decaf in the wrong pot.&quot; </p>
<p>11.&quot;Boy that cold medicine I took last night just won&#8217;t wear off!&quot; </p>
<p>12.&quot;I wasn&#8217;t sleeping; I was trying to pick up contact lens without hands.&quot;</p>
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					<guid>http://opentuition.com/topic/want-a-day-off-work/#post-22284</guid>
					<title><![CDATA[Want a day off work?]]></title>
					<link>http://opentuition.com/topic/want-a-day-off-work/#post-22284</link>
					<pubDate>Thu, 18 Dec 2008 01:56:34 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>So you want a day off. Let&#8217;s take a look at what you are asking for. There are 365 days per year available for work. There are 52 weeks per year in which you already have 2 days off per week, leaving 261 days available for work. Since you spend 16 hours each day away fron work, you have used up 170 days, leaving only 91 days available. You spend 30 minutes each day on coffee break which counts for 23 days each year, leaving only 68 days available. With a 1 hour lunch each day, you used up another 46 days, leaving only 22 days available for work. You normally spend 2 days per year on sick leave. This leaves you only 20 days per year available for work. We are off 5 holidays per year, so your available working time is down to 15 days. We generously give 14 days vacation per year which leaves only 1 day available for work and I&#8217;ll be darned if you are going to take that day off!</p>
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					<guid>http://opentuition.com/topic/new-job-interview-technique/#post-23212</guid>
					<title><![CDATA[New Job Interview Technique]]></title>
					<link>http://opentuition.com/topic/new-job-interview-technique/#post-23212</link>
					<pubDate>Wed, 21 Jan 2009 04:36:47 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>Take the prospective employee and put him in a room with only a table and two chairs. Leave him alone for two hours, without any instruction. At the end of that time, go back and see what he is doing. </p>
<p>If he has taken the table apart, put him in Engineering.<br />If he is counting the butts in the ashtray, assign him to Finance.<br />If he is waving his arms and talking out loud, send him to Consulting.<br />If he is talking to the chairs, Personnel is a good spot for him.<br />If he is sleeping, he is Management material.<br />If he is writing up the experience, send him to the Technical Documentation team.<br />If he doesn&#8217;t even look up when you enter the room, assign him to Security.<br />If he tries to tell you it&#8217;s not as bad as it looks, put him into Marketing.<br />If he is wearing green sunglasses and need a haircut, Software is his niche.<br />If he mentions what a good price we got for the table and chairs, send him to Purchasing.<br />If he mentions that hardwood furniture does not come from rainforests, Public Relations will suit him well.</p>
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					<guid>http://opentuition.com/topic/imagination/#post-23213</guid>
					<title><![CDATA[Imagination]]></title>
					<link>http://opentuition.com/topic/imagination/#post-23213</link>
					<pubDate>Wed, 21 Jan 2009 04:37:55 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>Several weeks after a young man had been hired, he was called into the personnel manager&#8217;s office. <br />&quot;What is the meaning of this?&quot; the manager asked. &quot;When you applied for the job, you told us you had 5 years&#8217; experience. Now we discover this is the first job you&#8217;ve ever had.&quot; <br />&quot;Well,&quot; the young man said, &quot;in your ad you said you wanted somebody with imagination.&quot;</p>
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					<guid>http://opentuition.com/topic/rolls-royce/#post-23214</guid>
					<title><![CDATA[Rolls Royce]]></title>
					<link>http://opentuition.com/topic/rolls-royce/#post-23214</link>
					<pubDate>Wed, 21 Jan 2009 04:38:49 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>A man walks into a New York City bank and says he wants to borrow $2,000 for three weeks. The loan officer asks him what kind of collateral he has. The man says &quot;I&#8217;ve got a Rolls Royce &#8212; keep it until the loan is paid off &#8212; here are the keys.&quot; The loan officer promptly has the car driven into the bank&#8217;s underground parking for safe keeping, and gives the man $2,000. <br />Three weeks later the man comes into the bank, pays back the $2,000 loan, plus $10 interest, and regains possession of the Rolls Royce. The loan officer asks him, &quot;Sir, if I may ask, why would a man who drives a Rolls Royce need to borrow two thousand dollars?&quot; <br />The man answers, &quot;I had to go to Europe for three weeks, and where else could I store a Rolls Royce for that long for ten dollars?&quot;</p>
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					<guid>http://opentuition.com/topic/a-little-boy/#post-23222</guid>
					<title><![CDATA[A Little Boy]]></title>
					<link>http://opentuition.com/topic/a-little-boy/#post-23222</link>
					<pubDate>Wed, 21 Jan 2009 04:39:42 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>A little boy wanted $100 badly and prayed for two weeks but nothing happened. Then he decided to write a letter to the Lord requesting the $100. <br />When the postal authorities received the letter addressed to the Lord, they decided to send it to President. The President was so impressed, touched, and amused that he instructed his secretary to send the little boy a $5.00 bill, as this would appear to be a lot of money to a little boy. <br />The little boy was delighted with the $5.00, and sat down to write a thank-you note to the Lord. It said: <br />Dear Lord,<br />Thank you very much for sending me the money. However, I noticed that for some reason you had to send it through Government Agents and as usual, those jerks deducted $95.</p>
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					<guid>http://opentuition.com/topic/balloon-ride/#post-23223</guid>
					<title><![CDATA[Balloon Ride]]></title>
					<link>http://opentuition.com/topic/balloon-ride/#post-23223</link>
					<pubDate>Wed, 21 Jan 2009 04:40:42 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<p>A man takes a balloon ride at a local country fair. A fierce wind suddenly kicks up, causing the balloon to violently leave the fair and carry its occupant out into the countryside. The man has no idea where he is, so he goes down to five meters above ground and asks a passing wanderer: &quot;Excuse me, sir, can you tell me where I am?&quot; <br />Eyeing the man in the balloon the passer-by says: &quot;You are in a downed red balloon, five meters above ground.&quot; <br />The balloon&#8217;s unhappy resident replied, &quot;You must be An Accountant” <br />&quot;How could you possible know that?&quot; asked the passer-by. <br />&quot;Because your answer is technically correct but absolutely useless, and the fact is I am still lost&quot;. <br />&quot;Then you must be in management&quot;, said the passer-by.<br />&quot;Thats right! How did you know?&quot;<br />&quot;You have such a good view from where you are, and yet you don&#8217;t know where you are and you don&#8217;t know where you are going. The fact is you are in the exact same position you were in before we met, but now your problem is somehow my fault!&quot;</p>
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					<guid>http://opentuition.com/topic/economist-and-accountant/#post-23229</guid>
					<title><![CDATA[Economist and Accountant]]></title>
					<link>http://opentuition.com/topic/economist-and-accountant/#post-23229</link>
					<pubDate>Wed, 21 Jan 2009 04:41:40 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

					<description>
						<![CDATA[
						<p>An economist and an accountant are walking along a large puddle. They get across a frog jumping on the mud. The economist says: &quot;If you eat the frog I&#8217;ll give you $20,000!&quot;<br />The accountant checks his budget and figures out he&#8217;s better off eating it, so he does and collects money. <br />Continuing along the same puddle they almost step into yet another frog. The accountant says: &quot;Now, if you eat this frog I&#8217;ll give you $20,000.&quot;<br />After evaluating the proposal the economist eats the frog and gets the money. <br />They go on. The accountant starts thinking: &quot;Listen, we both have the same amount of money we had before, but we both ate frogs. I don&#8217;t see us being better off.&quot;<br />The economist: &quot;Well, that&#8217;s true, but you overlooked the fact that we&#8217;ve been just involved in $40,000 of trade.&quot;</p>
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					<guid>http://opentuition.com/topic/tax/#post-23231</guid>
					<title><![CDATA[TAX]]></title>
					<link>http://opentuition.com/topic/tax/#post-23231</link>
					<pubDate>Wed, 21 Jan 2009 04:42:52 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

					<description>
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						<p>A taxpayer is someone who works for the federal government but who doesn&#8217;t have to take a civil service examination. </p>
<p>A fine is a tax for doing something wrong.<br />A tax is a fine for doing something right.</p>
<p>Where there&#8217;s a will, there&#8217;s an Inheritance Tax.</p>
<p>The difference between the short and long income tax forms is simple. If you use the short form, the government gets your money. If you use the long form, the tax advisor gets your money.</p>
<p>Why won&#8217;t sharks attack tax inspectors? Professional courtesy.</p>
<p>The trouble with the profession of income-tax inspectors is that 90% of its members give the rest a bad name.</p>
<p>How many tax auditors does it take to find a $1.00 mistake in an expense report?<br />Three. One to find the mistake and two to discuss the significance of it</p>
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					<guid>http://opentuition.com/topic/a-good-luck-charm/#post-23293</guid>
					<title><![CDATA[A good luck charm]]></title>
					<link>http://opentuition.com/topic/a-good-luck-charm/#post-23293</link>
					<pubDate>Sun, 25 Jan 2009 07:29:47 +0000</pubDate>
					<dc:creator>ramsha</dc:creator>

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						<![CDATA[
						<p>An economic forecaster was known to have an horseshoe prominently displayed above the doorframe of his office. Asked what it was for, he replied &quot;it is a good luck charm that helps my forecasts&quot;. <br />&quot;But do you believe in that superstition?&quot; he was asked. <br />&quot;Of course not!&quot; he said, &quot;but it works whether you believe in it or not.&quot;</p>
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