[js142004]

opentuition material of p7 and p2 will be more than enough. past papers are free and more than enough to pass p7.

[js142004]

none. Use the notes of Opentuition or any other notes that emphasize the basics. If you know the basics WELL and its application you can pass P7. No details are needed as you wont have any time for details.

What i did is study only one month the theory and the remaining months solving past papers. By solving past papers you will realize that most of the questions were examined and seen before.

Dont panic with the 35% pass rate. The answer is simple. Lack of studying, P7 is not hard.

[js142004]

no it just categorizes your mind what its looking for. You can have them under headings if its easier for you to spot.

[js142004]

Romes you should post your answer on Ask ACCA TUROR. Mike will be able to help you there for a full answer. When you click the ACCA button instead of going to acca forums go to ask acca tutor. post your question there on P7

[js142004]

oh ok then 🙂

[js142004]

thanks mike. There is also one question in the P7 Forum that Romes asked about customer due diligence if you can have a look 🙂

[js142004]

Romes im also taking P7 this december so dont rely entirely on this answer but i believe that client due diligence is part of client identification procedures.

Client due diligence are procedures to verify the identities of all your clients (by obtaining information such as their id, their utility bills to confirm their address etc ) their company or line of business (check if they have certificate of incorporation, list of their main shareholders). All these records have to be maintained for 5 years for evidence if needed.

They are used for instances such as with money laundering. Accountants are required to check whether their clients are who they claim to be.

I would also like Mike to check on that.

[js142004]

Thanks mike for helping us out. In my place i wouldn’t help someone for free, i dont know if you gain something from this but we appreciate a lot how quick you respond in every question and giving us lectures with notes. I recommend to many this website

[js142004]

@romes said:
This is a very good explaination Mike. I did not think if it like that.
Good question js!

Its frustrating that we buy approved books and the explanation given to us is like they are referring to people with 20 years experience. Mike explained it in 2 lines and i understood much more than 7 lines in the book.

[js142004]

thanks Mike. straight to the point answer. books tend to make things difficult :p

[js142004]

Changes in accounting policies is a current issue?

[Author]

Posts