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Affiliate!!! Passed first attempt. OT was enough for knowledge and past papers for practise.
Thank you Opentuition!!!Hello!
Yes it will be available from September 2016 sitting in selected markets.
You can watch a video and read through the page to understand better what’s it all about on https://www.accaglobal.com/middle-east/en/student/changes-to-exams/f5-f9-session-cbe.html
For exam format: https://www.accaglobal.com/middle-east/en/student/changes-to-exams/f5-f9-session-cbe/exam-format.html
For specimen exam : https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f9/specimen/f9-specimen-s16.pdf
Therefore the CV will be:
Goodwill 0
Patent $1M
Factory Building $2.4M (4-1.6)
Plant $1.8M (3.5- 0.5 – 1.2)
Cash and Rec $1.5M
Total $6.7M😉
Total impairment is $5.3 million (12 – 6.7).
First to obviously impaired assets $0.5 million to plant and $0.2 million to patent. (that’s $0.7 million already impaired. ) The plant is at 3 million now and can be further impaired if required (see below)
Then to goodwill $1.8 million (that’s $2.5 million already impaired out of $5.3 million )
The remaining($ 2.8M) will be on pro rata basis. Remember
1) Receivables and cash will not be impaired
2) Patent cannot be further impairedSo for Factory building it will be $2.8M x 4000/(4000+3000)= $1.6M
and for Plant it will be $2.8M x 3000/(4000+3000)= $1.2MOK. Then P2 P3 P4 P7 would be a good choice as P2 and P7 will help each other and a fresh F9 and P3 (some topics) will help P4.
Hi Sidrajam,
The OT does not have lecture on IFRS 15, but they do have a chapter in the notes, reading through it will be enough. If you fail to understand something, then you can always ask your question on ask the tutor forum.
You have to use IFRS15 from now onwards.
Hope that helps.
Impairment is the difference between Carrying value”$3 million” and 1) or 2) “higher one”
1)The FV less cost to sell is $2.65 million (2.7-0.05).
2)The PV of cash flows is $2.6 million.Therefore the higher is 1)
so impairment is $3 million – $2.65 million = $0.35 millionDr impairment $0.35 million
Cr Plant $0.35 millionHi Chris
Yes you are right. These entry jobs will be more F3 F2 level and you will have much more knowledge than that. On the other hand you will need some experience. So your aim should be to get some relevant experience and you should not worry about being overlooked.Most students do look for jobs right after Fundamental level. But if you get an opportunity go for it.
Good Luck !
Osama, Osama, Osama, Why are you in such a hurry to attempt if you have no intentions of getting a job in the next 9 months. Why don’t you spread the your papers so you understand the papers in more depth and achieve higher marks.
Do P2 as soon as possible after F7
Do P7 as soon as possible after P2
Do P4 (if you must) as soon as possible after F9
Do P1 as soon as possible after F8
Don’t do P1 or P3 alone.ACCA is recognised in Australia but to a limit. To practice Tax you have to be a CPA Australia. If you want to be a CPA, your qualifications must be assessed by CPA Australia. If assessed as equivalent to australian tertiary degree, you will qualify for CPA associate membership, meaning that you’ll have to take 6 exams before attaining full CPA membership + 3 years professional experience (PE). As a full ACCA member, you might waive the PE requirement. But you will definitely have to go through the exams.
Just keep applying.
Though the more papers you have passed the more chances you have.Use This(opentution.com) website, it is the best.
The tutors are 30 years+ experienced. You get lectures,notes, ask directly to tutor, study guide, articles, etc, and the best part it’s completely free 🙂Until Sir answers your question, go through:
1. This Forum: https://opentuition.com/topic/can-i-self-study-the-answer-is-yes/2. Study guide : https://opentuition.com/acca/p4/p4-study-guide/
Good Luck!
Are you still facing the same problem? (as you posted on 4th Dec. )
If yes, then let me know specifically which video are you talking about.Hi!
None of the ACCA exams are easy on their own. They might be when compared to other. Try not to leave/skip any paper just because you don’t like it or you think it’s hard as you have to do them later anyway.If you like learning rules and applying them go for F6.
If you are good at theoretical papers then go for F8.
If none of the above, then F7 is the remaining choice.Do read the the “ACCA Paper F7/F6/F8 – Key to success” on every paper’s page (where there is a big key) to get know the nature of the paper.
Watch the intro lecture too.
Good Luck!
Thanks but my question was posted at “Ask the tutor” , so will wait for his reply.
