[bizuayehu]

here it is

(2016 quarter 4=134 minus 2015 quarter 4=126)=8
in short 134-126=8

hope this help you

[bizuayehu]

Evolution
Transformational change implemented gradually trough inter related initiatives; likely to be proactive change under taken in participative change undertaken in participation of the need for future change Adaptation
Change undertaken to realign the way in which the organization operates; implemented in a series of steps
– Speed of change incremental
-Extent of change transformation

Revolution
Transformational change that occurs via simultaneous initiatives on many front:
– More likely to be forced and reactive because of the changing competitive conditions that the organization is facing Reconstruction
Change undertaken to realign the way in which the organization operates with many initiatives implemented simultaneously;
– Often forced and reactive because of changing competitive context Speed of change Big bang
Extent of change Transformation
Adaptation
Change undertaken to realign the way in which the organization operates; implemented in a series of steps
– Speed of change incremental
-Extent of change realignment
Reconstruction
Change undertaken to realign the way in which the organization operates with many initiatives implemented simultaneously;
– Often forced and reactive because of changing competitive context

Speed of change realignment
-Extent of change big bang

Strategic choice
Porter’s generic strategies
The strategy clock
Ansoff’s matrix
Vertical integration
Conglomerate diversification
Acquisition vs organic growth
Joint development strategies
Strategy evaluation
So that you can use any model from the above

[bizuayehu]

Options are what you could do. For example, open abroad, take-over another company, develop a new product, move up-market.

Choise is what you decide to do. For example, open abroad.

[bizuayehu]

In my opinion based on past conversion year i.e. 2007 on all papers together expired in December 2017. with the same token the papers P1 & P3 converted to the new paper (Strategic Business Leader (SBL) in September 2018. Not only these papers but also all other papers in professional lave will start their new life from that date on i.e. September 2018 and will expired on June 2025. Hope that would be happen to all of us in P’s.

[bizuayehu]

passed with 50

[bizuayehu]

The answer for P7 has been published since last week!!

[bizuayehu]

These were the exams,
Q1 was lengthy and there was a lot to grasp in little time but it was not too difficult I guess(BR+ROMM+Group audit planning+Evidence on the $10m as claim from pressure groups)
Q2 was typical P7 questions on ISAs+Matters to consider & evidence. Provision for decommisiong costs+change in estimate technique for calculating depreciation+Trade receivables.
Q3 was on due diligence where it was asked why two points made need to be investigated. One was on a major customer who is not renewing the agreement with the manufacturer and the other point was on a piece of land which was gifted and used as a nature reserve – a bit of an odd type though. Then the investigation procedures was asked and the questioned finished off with a bit of ethics.
Q4 was on ethics+professional issues+recommendations in a three sub parts
Q5 Audit report (going concern)

[bizuayehu]

Big date also may mean PFI.

[bizuayehu]

it was great if LSBF sent its tips but I dont think they will avail for none LSBF students!

[bizuayehu]

Big Change audit reporting.

[bizuayehu]

Doing Past Exam from ACCA not any learning provider Such as……, work on the question i.e write the answer first and then compare it with the examiner answer and identify what was wrong what was correct and learn how to write to your examiner i.e. doing so help you to know what your examiner looking from you in up coming session.

This help me because the leaning providers Kit start to answering by grouping one topic at a time and you my good at one area but the exam is across the syllabus and the past exam is the same and working on the past exam help you to develop such skills and you will pass on your next time.

bizuayehu from ethiopia

[bizuayehu]

But it is so bad for those who live in countries internet is banned/unable to connect as you like or very slow couldn’t get a chance to see the updates etc!!!

[bizuayehu]

it comes and you made it. Great for you

[bizuayehu]

passed 61% i was expecting over 65% thanks Jehova

[bizuayehu]

Normally when you make the advance payment you have to

Debit prepaid
credit cash

When you consume/recognize the expense

you will debit rent expense
credit prepaid
So in you case if say “i know the debit is liability”

I want to know what was the debit entry when the payment made i.e.

prepaid liability credit was made but what was the debit entry??

If you you tale me that i will tale you what to do!!!

Bizuayehu

[bizuayehu]

Hi There,

When such cases happened you have to consider the following:

Ethical issues: SSAFIM(self interest, self review, advocacy, intimidation & management)
I of C (integrity of the client and its management)
C of I (conflict of interest)
Confidentiality
When it comes to professional issues: Money laundering,professional liability, Practice management,impact on the audit i.e. when, where, staffing, timing, etc.

Hope with this clus you can analyse the case.

Thank you,

Bizuayehu Fassil

[bizuayehu]

I am from Ethiopia. Get 5 years acca exam from ACCA website and attempt them. Or else get Kaplan Text book and attempt the questions while your reading it could be the quickest possible ways. If you get latest LSBF video it is also invaluable to grasp the topics plus techniques. Good day

[bizuayehu]

Hi There,

I am ready to take the exam even today Buy i have started reading and attempting the past exam from June on (2016) . I.e. i have attempted 5 years past exams. And am hoping that nething will come as difficult as i couldn’t attempt and pass.

[bizuayehu]

Financial statements assertions
ACCA COVER

Accuracy
Completeness
Cut off
Allocation

Classification and understandibility
Occurence
Valuation
Existance
Rights and obligations

Sources of evidence
AEIOU

Analytical procedures
Enquiry and confirmation
Inspection
Observation
recalcUlation and reperformance

Ethics – fundamental principles
OPPIC

Objectivity
Professional behaviour
Professional competence
Integrity
Confidentiality

Ethics – threats
ASSIF

Advocacy
Self-interest
Self-review
Intimidation
Familiarity

Ethics – indicators of threats
FULL STOP

Friends and family
Undue fee dependence
Loans to/from
Litigation

Shares in client
Taking gifts and hospitality
Overdue fees
Provision to the other services

Corporate governance – concepts
HAIR DRIFT

Honesty / probity
Accountability
Independence
Responsibility

Decision taking / judgement
Reputation
Integrity
Fairness
Transparency / openness

Stakeholdres – anyone or any group
PINK LAVR

Primary or secondly
Internal or external
Narrow or wide
Known or unknown

Legitimate or illegitimate
Active or passive
Voluntary or involuntary
Recognised or unrecognised

Internal controls – categorisation
OPA SPAMS or SPAM SOAP

Organisational
Physical
Arithmetic and Accounting

Segregation of duties
Personnel
Authorisation and approval
Management
Supervision

Audit committee – role and function
CLARISSA

Creat a climate of discipline and control
Lend credibility in financial statements
Assist CFO providing a forum
Review financial statements to improve quality
Independent judgement
Strengthen position of the internal auditor
Strengthen position of the external auditor
Assist in the resolution of dispites between external auditor and the board

Control objectives
A STOP

Accuracy
Safeguarding asset
Timing reporting
Orderly efficient business conduct
Prevention fraud or non-compliance of law

Control procedures
CARCAP

Comparison
Authorisation
Reconciliations
Computer controls
Arithmetical
Physical

Evaluation of expert’s work
CCO

Competent ?
Capable ?
Objective?

[bizuayehu]

The well known audit evidence technique is using A,E,I,O,U. Plus the new technique is DADA3 also help full. But alway make sure which assertion your are auditing. e.g.

You may say i will recalculate current year depreciation. why you did the recalculation? if you couldn’t explain why it has been done you may not earn a mark. to answer the question why you should state one of the assertions. so in this case you may say to verify asset valuation could be possible.

So that you may learn how to make such statements.

Good day

[bizuayehu]

Please try to do past exam on exam condition at lest 2 years otherwise more till your comfortable in writing for each section!!!

[bizuayehu]

P7 if you were good in F8. The standards in the P2 are the back bone of the audit. I mean your going to audit what you have done in the P2.

Best

[bizuayehu]

Hi The auditor will go to the client office before the year end and after the year end.

Before the year end to take stock count and interim audit and after the year end for final audit, attend AGM etc…

[bizuayehu]

Using KIT’s it good but not as good as using the real exam!!

you may develop certain skills in one area eg in audit planning but the exam covers multiple areas so that the way the kits developed not as per the exam natur. i.e the knowledge you may develop is like a camel you have huge knowledge in one are but nothing in some other area because you dont have enough time to cover all as you did at the beginning.

[bizuayehu]

Hi Please check any changes in the examinable ISA,IAS & IFRS. If there is a change u need to change otherwise it will be useful!!

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