Hi! I wanted to know that if a question in F3 comes that doesnt say that if it’s cash or bank transaction we should record the transaction as cash but in the revision kit why do they record it as bank ?
It really depends on what the question is about. Usually in the exam we show cash and bank all together rather than separately. (It is not Paper F3 – it is now called Paper FA 馃檪 )
Hi there, thanks for all you’re doing! There seems to be information missing (large gaps on the page where you’d expect there to be an explanation) on the FA lecture notes… or is it just me?
Any gaps are for you to fill in yourself while listening to the lectures – the notes are lecture notes. Most gaps are for filling in answers to examples – all the examples are worked through in the lectures (and, of course, you can find printed answer in the notes by looking at the contents page)
The notes are only to be used while watching the lectures because it is in the lectures that I explain and expand on the notes. If you are not watching the lectures for any reason then you need to buy a Study Text from one of the ACCA approved publishers and study from there.
Hello sir, could u explain historical cost accounting, and there is this question that in times of rising prices, historical cost tends to understate asset value and overstate profits? could u please explain this.
I have found this in the Open Tuition site. Answered by Tutor Mr John Moffat. Please see the answer to your question below;
“The historical cost concept means that we value non-current assets at original cost less depreciation (based on the original cost). If there is inflation, then the current cost of the assets would be higher (so using historical cost means they are under-valued) and depreciation would be higher if it were based on the current cost (so calculating it on original cost means that the depreciation expense is lower and so profit higher).”
nawal2000: I do explain this in later lectures – you cannot expect everything to be explained in an introductory lecture! 馃檪 The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well. (Also, please ask this sort of question in the Ask the Tutor Forum, and not as a comment on an unrelated lecture.)
Thank you so much for your efforts! I have a question though, I have noticed that F1 is more related to business and F3 is to accounting. Would it be sensible to study both F1 and F3 at the same time then proceed to study F2? Or does it have to be one by one in order? Thank you so much!
Hi Sir, thank you so much for your lectures. I am new and i don鈥檛 know very much about this exam do i need buy the study text book from BPP, besides revision and practice kit or your free notes book is enough to prepare for the exam?
If you are watching the lectures, you do not really need a Study Text. However a Revision Kit is essential because practice as exam standard questions is vital to passing the exam.
Dear Professor, I am addressing you on behalf of the Ilia State University Business School from Tbilisi Georgia. I am the vice dean of the school. Is it possible to get your e-mail to discuss some issues related to teaching ACCA courses? Thank you in advance Nino Dolidze
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I really appreciate what you are doing sir. You helped me a lot.
Thank you for your comment 馃檪
Dear Mr John,
Thank you very much for your lectures, they are a real help !
You are a great teacher !
Thank you for your comment 馃檪
hope I can watch the lectures in China
I hope you can also – please do let us know if you are able.
thank you for the lecture, it gives great help.
Thank you for your comment 馃檪
Hi! I wanted to know that if a question in F3 comes that doesnt say that if it’s cash or bank transaction we should record the transaction as cash but in the revision kit why do they record it as bank ?
It really depends on what the question is about. Usually in the exam we show cash and bank all together rather than separately.
(It is not Paper F3 – it is now called Paper FA 馃檪 )
Hi there, thanks for all you’re doing! There seems to be information missing (large gaps on the page where you’d expect there to be an explanation) on the FA lecture notes… or is it just me?
Any gaps are for you to fill in yourself while listening to the lectures – the notes are lecture notes. Most gaps are for filling in answers to examples – all the examples are worked through in the lectures (and, of course, you can find printed answer in the notes by looking at the contents page)
The notes are only to be used while watching the lectures because it is in the lectures that I explain and expand on the notes. If you are not watching the lectures for any reason then you need to buy a Study Text from one of the ACCA approved publishers and study from there.
vusalpashali: Thank you for your comment 馃檪
Thank you very much, Sir.
Highly appreciated.
nichoku: Thank you for your comment 馃檪
Thank you so much sir, it was fun and easy to understand!
Very useful. Thank you, sir.
Thank you for your comment 馃檪
Hello sir, could u explain historical cost accounting, and there is this question that in times of rising prices, historical cost tends to understate asset value and overstate profits? could u please explain this.
I have found this in the Open Tuition site. Answered by Tutor Mr John Moffat. Please see the answer to your question below;
“The historical cost concept means that we value non-current assets at original cost less depreciation (based on the original cost).
If there is inflation, then the current cost of the assets would be higher (so using historical cost means they are under-valued) and depreciation would be higher if it were based on the current cost (so calculating it on original cost means that the depreciation expense is lower and so profit higher).”
Bennett: Thank you for that 馃檪
nawal2000: I do explain this in later lectures – you cannot expect everything to be explained in an introductory lecture! 馃檪
The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
(Also, please ask this sort of question in the Ask the Tutor Forum, and not as a comment on an unrelated lecture.)
Thanks very much
You are welcome 馃檪
Thank you so much for your efforts! I have a question though, I have noticed that F1 is more related to business and F3 is to accounting. Would it be sensible to study both F1 and F3 at the same time then proceed to study F2? Or does it have to be one by one in order? Thank you so much!
Dear Mr. John,
Kindly waiting for your reply.
Thank you.
Regards.
This question should be posted on the Ask ACCA Tutor forum and not as a comment on a videod lecture
I suggest that you replicate your question on the F3 Ask ACCA Tutor forum and then John will be sure to see it
OK?
Thank you sir for your lectures. Its very useful.
Thank you for your comment 馃檪
By far the most concise and easy way in which I have ever learned accounting. Sir, thanks a lot.
Thank you for your comment 馃檪
Hi Sir, thank you so much for your lectures. I am new and i don鈥檛 know very much about this exam do i need buy the study text book from BPP, besides revision and practice kit or your free notes book is enough to prepare for the exam?
If you are watching the lectures, you do not really need a Study Text. However a Revision Kit is essential because practice as exam standard questions is vital to passing the exam.
Thanks so much for your efforts.
Great website and resources.
Thank you for you comment 馃檪
Simple and straight forward. Thanks Professor.
You are welcome 馃檪
i failed my first exam with a 38% how much time do i need for a resit
thank you professor your way of teaching is very nice i appreciate your expalain
Thank you very much for your comment 馃檪
Dear Professor,
I am addressing you on behalf of the Ilia State University Business School from Tbilisi Georgia. I am the vice dean of the school. Is it possible to get your e-mail to discuss some issues related to teaching ACCA courses?
Thank you in advance
Nino Dolidze
Thank you sir for your lectures. I passed with 85% I’m so happy
Thank you for your comment, and many congregations on passing the exam 馃檪
Congrat Tejal.