Forum Replies Created
- Posts
I just got one too.
My P6 mark got bumped from 54 to 55% as I became affiliated nearly had a heart attack opening!
@starskytherabbit said:
I think really the answer is are you worth anything more to your boss as fully qualified. If you will be undertaking more work/ more responsibility then yes negotiate for more money on that basis. If you are going to be doing the same work as prior to passing your final exam then it may be that your options for negotiation are limited. The fact you have only been at the firm a short time may work against you. Quite often in small firms experience is valued just as much as qualifications.If I was your boss I would be wanting to know what you would be bringing to the table to justify any pay rise. Are you prepared to market the business, go to networking events, bring in new clients etc. Take some of the responsibility of running a small practice of of his/her shoulders
Bang on advice- all about adding value into your role and push to be given new tasks!
@helentop said:
Wow adman50 – well done! Did you get on graduate scheme? If it’s not a secret, what company do you work for?abc123 – 24k is rather low for newly qualified I’d say. I am part qualified and I’ve got only 1.5 years experience as acc assistant and get 28k – but yet again I live in London. I reckon you should negotiate – good luck!
@Helen I just work for a shipping company, I’m not on a grad scheme here but I finished one with Enterprise Rent a Car.The key to getting the coin I’m finding is having real life experience in a wide range of accounting areas. For me things like management accounting (month end packs with variance/commentary), budgeting, VAT returns and corp tax calcs, full B/S recs etc. are really in demand and other skills like advanvce excel and good communication at a director level are essential.
If you haven’t finished yet I’d say start looking to the roles you want to be doing and trying to match as much of the job spec to you what you do now so in the interview your CV really stands out.
All jokes aside I’m opening negotiations at 45k and won’t go a penny below 42k (and this was before I had results!)
I work for a global company in London and been here 5 years and just completed my qualification.
Have a look at the salary guides by Robert Half and Goodman Masson etc. I’ve had about 40 calls and emails in a week.
There is so much demand for newly qualifieds it’s unreal!
Got my friend Jack Daniel sitting here with me.
I think I’ve passed P7 and P6 is flip of a coin. We shall see.
Good luck everyone….as a finalist this is by far the worst wait ever because of what is at stake!
@peterchipeta said:
Thus the same thing am experiencing right now.@jesslowry said:
I couldn’t log in this morning using the password that I know had worked OK on Friday. I’ve reset my password and logged in but the “Change Password” link doesn’t work to enable me to change my password back to something I’ll remember.Has anyone experienced the same?
I know we have to wait until 8th Feb, but I am possibly the most impatient person ever haha! Just waiting on what I hope to be my final result!
Mine is the same also- yesterday could not access today it said I was locked out for too many failures.
New password came right away but I am unable to change it.
Very strange.
“Luckily” with month end it’s too busy to worry about this 🙁
@keyboard said:
@abdul ..been doing p7 since december 2012..failed at 46 , 48 , 42 , 40 …but i have never had any sort of tuition or guidance for p7
just been me and books
I thought P7 was not too bad and I am confident I have passed, it helped massively the Kaplan QBD 2 days before the exam was very similar indeed.
We were told to do the following:
– State the audit risk e.g. there is a risk of material missatatement owing to a provision being made which is not eligble
– Explain the correct accounting treatment- e.g. have the 3 criteria for a provision been met?
– How to remedy the issue e.g. tell directors it does not meet the criteria and must be reversed out of the statements
– Impact on audit report e.g. if the directors do not make the adjust we would have add give an “except for” statement explaining apart from the provision the books are free from material misstatement
The P7 paper is very much application of accounting knowledge to the scenario. If you are not technically able it’s a real pig because you need to know IFRS in order to be able to spot the risks. It is why ACCA are insisting that P7 has to be sat after P2 even though the other restrictions have been lifted.
Yea mine has gone back to the 26th too- very strange lol.
Question: How much would you pay extra to get results early?
LOL some of you SERIOUSLY need to chill out.
I passed P2 first time by:
– Sitting right after F7 its the direct follow on from it so the 5 step consolidation etc. will still be fresh
– Sitting the paper by itself
– Completing the whole exam kit
– Working more or less every evening and weekend for about 10 weeksIt’s hard and the syllubus is massive but I’d pick P2 over P6 any day of the week!
@paige I printed out my ERS result for a job interview 3 weeks ago and compared it to today.
There is no difference between it except for the date has changed to the date the report was run.
@dannie88 said:
Am I the only one to have identified the audit client as a new client, since he said the following:” I have also provided you with minutes of a meeting I had with Maggie last week and some background information about the company”
I put risks of opening balances and risks related to new audit client…
Yes I mentioned that as a risk and talked about new client fees being higher when it asked about discussing how the fee was set.
Had a mare with calc in q1 studied more for group reliefs than sole trader. Hopefully I nailed the ethics, presentation, Vat, iht and cg parts to drag me up to a pass on that question.
Question 2 Was a bit of a complex mess. I said the loss couldn’t be brought forward cos the nature of trade has changed. I also rolled over relief on the new factory bought as in cg group but the smaller company could not have the gain as was only 65%. Again hoping patent box and Vat saved me
Question 3 was hopefully my banker to drag me up on the various iht and cg.
Question 4 had a bit of a mare with the dates but think I did well on the uk residency test and remittance basis.
Overall it’s going to be tight. Pray this is a pass as I can’t face this again.
I’m pulling my hair out because the syllabus is so MASSIVE!!!
I struggle to remember all the reliefs and the rules applying with them and hate all the SAYE stuff because each scheme is different.
I hope that a nice 20 mark question comes up on IHT because I am happy with that.
Just remember that professional marks because I really believe those 4 on offer will be the difference between pass and fail.
@abdullahzafar said:
There was a mm and business risk in implenting new system.There were no deficiencies in old system. But mm and business were there in implementing new system.
Agree with this- I had it as a risk that there could be significant disruption to implementing a new system
For Q2 I had something like:
a) Discussion of the Goodwill and the amortisation of it. Then discussed about the finance costs and how the 5m premium was treated, think I said something about discounting this 5m to the present value and then unwinding it but I think that is incorrect should have been amortised perhaps? For 12 marks had to be something more technical like this.
b) was a non adjusting event as it was after year end, and should only have been disclosed (exact question was in Kaplan QBD) so it was wrong to add the contingent asset in (besides it has to be virtually certain of payout too)
c) related party transaction made it material by nature and the removal of PURP on the inventory and inter company balances
Was happy with the paper.
Kaplan smashed it with their QBD very similar. Most of the tipped stuff came up so felt well prepared.
The only tricky part was 2a with the goodwill and finance which was 12 marks and seems quite a lot of marks on offer so hoping I covered enough. The other two weren’t too bad in the requirement.
Roll on P6 dreading that 🙁
+1 for Neil DeCosta.
Very intelligent man who makes it a bit light hearted.
Kaplan for the win every time, light years ahead of BPP from my experiences.
Overall, was an OK paper, 1c caught me out totally and didn’t even attempt but managed 5 points for each SWOT so hoping to get close to the 20 marks for that and for the contextual factors seemed OK too (can’t even tell the time spent memorising for them to hand it on a plate!!)
Q2- calculated the contribution of each lecture assuming 5 people on average based on the rival firm, think it worked out to around $1400 per course. Suggested penetration pricing to gain market share. Part b was low hanging fruit.
Q3- was ok but struggled with evaluation though I think I handled implementation and selection ok. Pros and cons of the bespoke was ok too.
Disappointed no project management, outsourcing or stakeholders came up but wasn’t too bad.
Just hope 1c hasn’t bitten me on the ass. Good luck everyone…onto P1 now….
Agreed with P2 I fear I have focussed on too little of the standard as the question asked.
Wish I hadn’t looked now :-/
Just showed the paper to my manager at work and he said the wording is terrible. Especially question 2.
On reflection last ight I just feel really disappointed. Initially I was pissed off but if it’s on the sylabus then it’s fair game.
Got the cashflow to balance to 108 at the end but I’m 100% certain it was just a coincidence as some of the adjustments were crazy.
Hopefully blagged enough in the rest to scrape through but once Xmas is done it’s back on the P2 study trust me!
