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Just wanted to give you a little bit of advice for P7. I passed this paper first time and found it in the main relatively easy. The thing to remember with this paper is risk , accounting standards and ethics. If you go into this paper with no understanding of risk, accounting standards or ethics you increase your chance of failing ( 70% of the paper in one way or another involves understanding risk and accounting treatment).
For example if there is an scenario in the exam which centers around ‘inventory’ … think has management valued inventory per IAS 2 lower of cost and net realisable value. Has management intentional increased inventory to mislead shareholders ? what evidence is available to account for managements valuation ( invoices , materials etc) ?
From a risk point of view think ‘ audit risk’…. There is a risk that inventory is materially misstated – ‘ impact’ inventory is overstated which may present an unfair view of the accounts ( materality dependent). ‘significance’ for the audit more work will be needed to recalculate inventory !!! … if management refuse then issue a qualified opinion if the rest of the accounts are fine
I hope this helpsJust wanted to give you a little bit of advice for P7. I passed this paper first time and found it in the main relatively easy. The thing to remember with this paper is risk , accounting standards and ethics. If you go into this paper with no understanding of risk, accounting standards or ethics you increase your chance of failing ( 70% of the paper in one way or another involves understanding risk and accounting treatment).
For example if there is an scenario in the exam which centers around ‘inventory’ … think has management valued inventory per IAS 2 lower of cost and net realisable value. Has management intentional increased inventory to mislead shareholders ? what evidence is available to account for managements valuation ( invoices , materials etc) ?
From a risk point of view think ‘ audit risk’…. There is a risk that inventory is materially misstated – ‘ impact’ inventory is overstated which may present an unfair view of the accounts ( materality dependent). ‘significance’ for the audit more work will be needed to recalculate inventory !!! … if management refuse then issue a qualified opinion if the rest of the accounts are fine
I hope this helpsHi Guys,
Just wanted to give you a little bit of advice for P7. I passed this paper first time and found it in the main relatively easy. The thing to remember with this paper is risk , accounting standards and ethics. If you go into this paper with no understanding of risk, accounting standards or ethics you increase your chance of failing ( 70% of the paper in one way or another involves understanding risk and accounting treatment).
For example if there is an scenario in the exam which centers around ‘inventory’ … think has management valued inventory per IAS 2 lower of cost and net realisable value. Has management intentional increased inventory to mislead shareholders ? what evidence is available to account for managements valuation ( invoices , materials etc) ?From a risk point of view think ‘ audit risk’…. There is a risk that inventory is materially misstated – ‘ impact’ inventory is overstated which may present an unfair view of the accounts ( materality dependent). ‘significance’ for the audit more work will be needed to recalculate inventory !!! … if management refuse then issue a qualified opinion if the rest of the accounts are fine
I hope this helps
53% bloody tough paper to end it all !!! Now acca affiliate .. No more exams party !!!!! For those that did not pass got 49% last time around and did not think there was any hope , but here I am now qualified
Yes now affiliate … It’s true no rows and members e-mail basically means u qualified ! For those that failed just remain strong – next sitting I am sure it will happen for u !
ACCA have now removed access to the affiliate page https://portal.accaglobal.com/portal/page/portal/ACCA_PORTAL_PAGES/ACCA_AFFILIATES with a msg but if you manage to get access to the page select change details and it should show you a graduation date .. I am assuming graduation date is the date of completion of exams
I can see no rows found and I can also see graduation date 2 aug and i got email from members@ upon password reset. not sure what all of this means as i can not see apply for membership on any pages :- ( .. although i have access to white affiliate page. # ANNOYING … wait for these results
I can see no exam entry option and I can also see graduation date 2 aug and i got email from members@ upon password reset. not sure what all of this means as i can not see apply for membership on any pages :- ( .. although i have access to white affiliate page. # ANNOYING … wait for these results
I can see no exam entry option and I can also see graduation date 2 aug and i got email from members@ upon password reset. not sure what all of this means as i can not see apply for membership on any pages :- ( .. although i have access to white affiliate page. # ANNOYING … wait for these results
Relax and stop panicing go for a walk or something people .. ease the pressure off of each other. There is still over 2 days to go … don’t let ur time be consumed with fear. These are all theorys although the member@ and graduation date does provide a slight hint of what to expect but its not conclusive. The worst case scenario is a re-take which in the wider world is not that bad … FYI my colleague got respond from student@ last Dec 2011 sitting and passed so that shows not all records are updated before the 8th.. still some hope out there for those who has received response from student@
Guys i don’t want to scary anyone but there is a way to see if you have graduated.
Go to https://portal.accaglobal.com/portal/page/portal/ACCA_PORTAL_PAGES/ACCA_AFFILIATESThen go to bottom and click contact us when the Error message appears. select changes details and there should be a graduation date . mine stated 2 Aug 2013 . I have no idea if this is a sure way of finding out if you have passed but like others i received e-mail upon reset of password from members@ and I also had ” no rows found” ! good luck all just a mere 30 plus hours before results are out
I sent password change and got e-mail back from members@accaglobal.com. Dec 2012 – i could access my Exam Docket up until the last day before exam results but now it states ” No rows found”. I have checked with 2 non-finalist and they can still see old exam docket. Could be a sign who knows ! Good Luck All , Thursday is around the corner.
P1 67
P2 58
P3 58BRING ON THE OPTIONS !! P2 nightmare paper to study for glad this chapter is now closed , thanks OT