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Any one got the Mock Papers yet?
Kindly get me a copy
beyagala@yahoo.comHope, if you have the money just pay up and start again. ACCA Exams are always a challenge but you don’t need to give up so easily like that. Come back to the system and start afresh.
You still have almost 4 years. This is enough for you to mount a come back.My dear Bacaga, Environmental reporting is also in P5.Environmental management accounting (EMA) looks at the costs to the environment of
decisions.
For example, changing the material that is used to package a product might result
in cost savings for the company, but produce more waste for governments to clean
up.
The idea is to make managers aware of the environmental costs associated with their decisions.
EMA is Summarized into LIFE
L- Life Cycle costing
I – Input/Output
F- Flow Cost Accounting
E- Environmental Activity Based Accounting.So please Bacaga EMA is in the P5 Syllabus.
There is always a mark for relevant quote of a standard. But you must be very sure of the wording of the standard. For Example IAS 16 Property Plant and Equipment. If you don’t quote the exact number of the IAS, IFRS, ISA definitely you loose some marks. There is always half a mark for the quotation of a relevant standard. So for Example if you have like 12 Standards in the scenario then there are 6 Marks for quote of relevant standard.
But its clear, you have to pass F4 before passing F7, F8 and F9. In other words you pass F7,F8, or F9 before F4 then you are not eligible for this Degree.
Hope that helps.Ya there is 205GBP Membership admission fees and the 205GBP Subscription. There is a possibility that you can pay 410GBP. Well the 205GBP for membership admission is paid ounce in a life time. If you apply for membership like say February or March then you are most likely to Pay 410GBPs. That is 205GBP for admission into membership and 205GBP for subscription.
Gromit is a bit right hear. ACCA also accommodates answers from Students especially P1, P3, P5, P7
To me I think that is the best option. P2 and P7. It really works out. Generally P7 is all about you auditing P2
just send also on alfred.okurut@ubos.org
Sarita just confused, are you going to have a late registration or you already registered?
Early and Standard registered has already passed. If you are registering under late registration I suggest you go for F8 even though you are good at calculations. F8 just read and understand the audit language and you will be through.
Otherwise we need to know whether you are already registered for Exams.When you are doing business for example, you are required to file a provisional return to the Revenue department. This provisional return is based on estimates. For Example, when you expect to make US$ 200,000 as profit for your business, you pay Revenue 200,000 X30%= 60,000. Now at the end of the accounting period you make a profit of US$150,000, the tax which you pay is 150,000 X30%=45,000. This means that there was an over provision of 15,000 (60,000-45,000) . This 15,000 is supposed to refunded by the Revenue department. Similarly if you expect to make a profit of 200,000 as above, the provisional tax you pay is 60,000 (200,000X30%) but at the end of the accounting period you make a profit of say 250,000 then the tax to pay is 75,000 (250,000X30%). This means there was an under provision of 15,000 (60,000-75,000). This amount you are supposed to pay it to the Revenue department.
So for the tax payable to revenue department is computed as.
Current Tax (profit x Rate of Tax)……………………………..XXXXX
Add. Under provision………………………………………………..XXX
Less. Over provision……………………………………………….(XXX)
Tax Payable………………………………………………………………………..XXXXX ….To SOP/L & CI
Hope this helps.Its a professional stage completion certificate. Just log on to your account and you will see print certificate
The most important thing is for you to understand the criteria for designing a Transfer price.
1. Divisional Autonomy
2. Goal Congruence
3. Performance measurement (Profitability)
The types of Transfer prices and the rule for transfer pricing.
The rule is A good transfer price..” Marginal Cost plus Opportunity cost”.
Types of TP
1. Marginal Cost
2. Market price
3. External price from Alternative supplier
4. Internal Transfers
5. Dual Transfer price ( MC and Market Price… For reporting purposes (ACCOUNTING)- Cancelled on consolidation)
6. Cost plus.
When discussing these different Transfer Prices you must always tailor them to the Criteria for designing a TP.
Look also at the Taxation side of TP.In the P5 Exam, expect these areas from the F5 Syllabus,
1. Activity Based Costing and Absorption Costing (JUNE 2013 QN2)
2. Budgeting, BB, ABB,( DEC 2012) and Variance Analysis (Planning and Operational Variances)
3. The Learning curve XXXXXXX take note of this
4. Sensitivity Analysis ( Maximin, Minimax, Regrets,Expected Values) (DEC 2011 & JUNE 2013)
5. Divisionalisation and Transfer pricing.(JUNE 2013)Let me give you a formula for income tax in the F7 exam.
Current Tax (Profit X30%)………………… XXXX…………………… SOFP (CL)
Over Provision….(+)………………………………(XXX)
Under provision. (-)………………………………. XXX
Increase in DT….(+)………………………………..XXX W1
Decrease in DT…(-)……………………………….(XXX) W1
Tax Payable……………………………………………………. XXXXX………………… SOP/L& OCIAnalysis of Deferred Tax W1
DT b/dwn…………………………………………………………………………………….XXXX
Increase in DT……………………………………………….W1…XX…….To IS
Decrease in DT……………………………………………..W1..(XX)……To IS
DT C/fwd (TDX30%)……………………………………………………………………XXXX……………..SOFP..(NCL)DT…….Deferred Tax, TD… Temporary Difference, 30%……Rate of Tax
TD= CA-TB
Where CA (Carrying Amount ) = Cost – Acc. Depreciation
TB (Tax Bax) = Cost – Acc. Capital Allowances.I think that helps
Well the last three papers are not easy. I suggest you register for tuition classes and add in more effort in your self study. Don’t relax because you have gone for tuition classes, its only guide for what you have been missing. I guess with more effort you will definitely pass.
Guju, don’t switch to P4, just maintain your mark and a few things. I personally had the same view when I failed P5 the first time and yet the paper looked easy. Now I went for the whole text chapter by chapter and some how learn t how to link those chapters. As you are aware all chapters in P5 are linked to each other. Then when you are attempting Questions try these questions.1. What is the Company trying to achieve?
2. Is it a private Company or Public company?
3. What is the performance measure?
4. What do I compute?
5. What do the figures/results mean?
Remember this is performance Management not performance measurement.Owain, Just be calm and wait for 8.8.2013. Even non finalist can’t access Exam entry now. There are no found as ACCA has to update it.
