[eamonn]

The loan mas material by nature due to it being a related party transaction

[eamonn]

Agree regarding the large balances, not necessary as time was an issue. Depreciation charge I said was not material, but if the error was discoverd in the other £100m other fixed assets it could become material, control risk should be reported to TCWG.

[eamonn]

Thank you for posting the links- the evaluation of misstatements was 5 marks for one of the questions- 5 marks that I wouldn’t have picked up had you not posted so thanks a lot!

[eamonn]

thank you very much,

link here: https://www.accaglobal.com/ie/en/student/exam-support-resources/professional-exams-study-resources/p2/examinable-documents.html

[eamonn]

It appears ACCA are making the P Papers more difficult and F Papers extremely easy with the introduction of F5-9 as MCQ exams. This clearly is for commercial reasons..get students committed by giving them an easy run on the F papers and then slam them on the P papers when they are committed to ACCA and exam fees have increased.

Shocking paper, the questions were ambiguous and a bit of a joke to be honest. I wonder what the pass rate was.

You could know all the tax in the world and still get confused on the exam by the way questions and narratives were structured (bits and bobs of information everywhere)

[eamonn]

Thanks for your reply. I have gone through the course notes and examples and always the low emission car purchase was in the first year of trading. My question was what happens if the trader buys a low emission car in the second year of trading, does the FYA (First year allowance) still apply?

[eamonn]

Of course, that’s my blonde moment for the week 🙂

[Author]

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