[hemabobbili]

Thank you for your advice. I chose Big 4 firm and it was extended for another 2 months which ended last month. Now I’m an ACCA affiliate I’m trying in 2 of the big 4 firms.

[hemabobbili]

Hai,

I’m someone who started acca from F5 after I did my B.com. Right now I’m just waiting for the result of my last ACCA paper.

I didn’t have a problem with revision kit. In fact I use to do all the questions on it but at first I did one paper for each attempt.

If thats the case with you and you are not working then I suggest you do the whole revision kit.

I swear it will really help you know different scenarios and will prepare you well so you will face less surprises in the exam.

Tips:
Personally I feel having a plan and following it, will get you through your practice and prepare you for the exam

So first make a plan:
-Plan the total time you have. Leaving at least one or if possible 2 weeks for revision.

-During practice make notes for yourself of the mistake you make. So you can refer at the end

– Mark all the question you feel important or you thought difficult. Practice those during revision.

-Lastly plan your exam time. Make sure you allocate your time well for each question in advance. In my opinion this is the most important tip I can give ESPECIALLY FOR THE FIRST TIME EXAM TAKER.

[hemabobbili]

First attempt passed with 71. So happy

[hemabobbili]

Passed p2 with 50 – pure luck and god’s grace
And p3 with 71
Both 1st attempt

[hemabobbili]

Yes you can do that.

[hemabobbili]

S’s salary -112000
building society interest- 4800
less PA- (2600)
taxable- 114200

D’s taxable income:

Employment income- 213248
Trading income (40 % partner)- 34240
building society- 4800
less: Interest paid – (6200)

Net/taxable income: 246088

In the above working, building society is in a joint account.

Part B of the question is to calculate S’s income tax saving if deposit account had been in D’s sold name instead of joint.

[hemabobbili]

Is it from 1st June’16 to 5th Apr’17 or 1st June’16 to 31st Jan’17?

[hemabobbili]

Shouldn’t we deduct PA 11000 from 76000 and then find 20%

[hemabobbili]

Oh right…so that’s carried forward…
Thank you so much.

[hemabobbili]

Thank you

[hemabobbili]

Answer is 4300 x 60% = $2580
I believe they got 4300 by subtracting 500 ( saving income rate nil band) from 4800 (I.e. 9600/2) —-> Correct me if I’m wrong.

But I didn’t understand that 60%

[hemabobbili]

Why should we Multiply with 100/90

[hemabobbili]

Thank you sir.

[hemabobbili]

Does that mean we should calculate investment income when work commenced after the loan is drawn?

[hemabobbili]

Sir,

I have one more doubt in the same topic.
while calculating months for investment income, should we consider the months from the date the loan was taken or from the date work commenced?

In the revision kit, they have taken from the date loan was drawn but in Open tuition question they have taken from the date work commenced.

[hemabobbili]

Got it.Thank you sir.

[hemabobbili]

1. For preparing rolling budget should we take the percentage on quarter 4 budgeted values or the actual budget values?

2. In the throughput first question, what is the bottleneck- weighing, mixing or none.

[Author]

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