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First and foremost “Not answering the Q set” – though this takes many forms – e.g:
– Regurgitiating a rote-learnt answer to a possibly similar Q
– Answering with substantive procedures when ToCs are asked for – or vice versa
– Answering with management’s reponses to risks/controls instead of the auditor’s responses
– Repetition of essentially the same point
– Not answering at all a part of a Q
(the list is endless)Don’t waste your time starting from scratch – the Applied Skills exams include topics that you won’t encounter again at the Strategic Professional level.
ACCA has created a platform just for you – the Student Virtual Learning Centre https://studentvirtuallearn.accaglobal.com. Go to “Get Ready Modules”, then select FR, for example.
The Student VLC is not linked to MyACCA, so if you haven’t used it before you’ll be prompted to create a new account (is very simple).
You will find self-check quizzes on five essential syllabus areas and “knowledge recap” e-learning modules if you are not getting the vast majority of Qs right.
Only do two of PM/TX/AA/FM – the ones for the advanced options you plan to do.
The 7 years of the 7-year rule only start after you pass your first strategic professional exam https://www.accaglobal.com/uk/en/student/getting-started/rules-and-regulations-for-students/time-limits.html
It is YOU who would be subject to a PER audit, if selected – not your supervisor – see publications https://www.accaglobal.com/content/dam/acca/global/pdf/0904.pdf and https://www.accaglobal.com/content/dam/ACCA_Global/Students/per/PER-trainee-guide.pdf
The guidance for supervisors makes no mention of a PER audit https://www.accaglobal.com/content/dam/ACCA_Global/Students/per/Become-a-practical-experience-supervisor-PER.pdf It also makes no reference to English or language.
On page 3:
“To sign-off performance objectives you must
be a qualified accountant, recognised by
law in your country and/or a member of the
International Federation of Accountants
(IFAC). You will be required to provide
confirmation of this to ACCA. However you
do not need to be a qualified accountant to
sign-off the time a trainee has completed in
their job role.”Since IFRS Accounting Standards and ISAs etc are available in multiple languages, I see no issue if English is not her language, as long as she meets the criteria.
Welcome to my forum!
In 1, A is not a deficiency per se. It is a standard procedure in many purchasing systems, ensuring that purchase requests come from suitably senior personnel.
However, you rightly expect some authorisation between the requisiting and the placing of a purchase order and the scenario states “Requisition forms do not require authorisation and no
reference is made to the current inventory levels of the materials being requested.” As a minimum you would expect some check to make sure that different supervisors are not requisitiong the same raw materials, which could result in holding more inventory than required – at a cost.Please see this articles, which was written for you https://opentuition.com/acca/plan-your-acca-exam-journey
Welcome to my AA forum!
The phrases “professional clearance” and “professional etiquette” are still used in practice to mean the process of communication between a nominee professional accountant/auditor and the existing professional accountant/auditor. However, the process for changes in professional appointments is an ethical requirement and these terms are misleading – and therefore discouraged for exams.
“Clearance” might suggest that the existing accountant gives some permission or clearance for the nominee to takeover the appointment – but an existing accountant cannot prevent a change in appointment – there is no “permission” that they can withhold.
In a similar vein “Etiquette” suggests that these communications are a “mere courtesy” – but they are not. You may find this informative https://www.accaglobal.com/content/dam/ACCA_Global/Technical/audit/client-engagement-2013.pdf
Thank you for clarifying the query – no, OpenTuition does not have any ACCA discount codes.
Apologies for the delay in responding – I wanted to check with a colleague before suggesting that the answer is wrong – my colleague concurs. Since the first conclusion is that Landy Co is a held-for-sale disposal group – we think it is more likely than not a discontinued operation because it seems to be a separate geographic region (it is the only foreign operation) and if you “do the math” on assets revenue/profit/total assets It is surely “major”:
Revenue 144 million 810 million 17.8%
Profit Before Tax 10.1 million 34 million 29.7%
Carrying Amount 78 million 516 million 15.1%As I already answered your post with the same subject line https://opentuition.com/topic/am-i-late – you should have been able to ask further on that post – ACCA believes in life-long learning – so never too late/too old!
As is explained in more detail in my article here https://opentuition.com/acca/plan-your-acca-exam-journey, BT and LW-ENG/GLO are not “session” exams. So you can enter to sit BT and LW a few days or weeks later.
@yuleawka, there is no Section C in the AA exam – perhaps you meant to post to the AAA forum?
Welcome to OpenTuition! If you want to update your knowledge, even as a self-studier you will access to fantastic free resources. Strategic Business Reporting may be a challenge if your accounting knowledge is rusty – BUT ACCA’s SBR course in the Study Hub – and the free materials offered by OpenTuition include all the essential assumed knowledge of the underpinning exam (FInancial Reporting).
You can forget about auditing entirely if you wish and study for the Advanced Performance Management and Advanced Financial Management options instead.
See here: https://www.accaglobal.com/uk/en/student/getting-started/re-registration.html
“When you re-register you will need to pay a re-registration fee together with any fees that were outstanding when you left the register.
If you have no outstanding fees, then you only need to pay the re-registration fee.”Go here: https://forms.accaglobal.com/contact-us
> I’m an ACCA student
> Account access / management
Select an option: Resign/ close account
Scroll down to “Do you need to contact us?” and select “Yes” – complete the form – and tick the declaration at the bottom of the page@lewilaptoper – this post promotes the availability of the mock exams – if you have watched ACCA’s debrief and your question is not answered, please ask on the RELEVANT tutor forum.
I don’t think you need to get overly bogged down in whether something is a whole mark or a half mark – but perhaps you can appreciate that “supervision of something” isn’t going to be worth a whole mark. There is another very similar Q Raspberry from M/J18 where the answer point “Production employees are issued with clock cards and are required to swipe their cards at the beginning and end of their shift, this process is supervised by security staff 24 hours a day.” is 1 mark – so this is consistent.
If you want to get technical about this (and most students don’t – nor is it necessary to do well in the exam) – this is useful knowledge in s.2.3 of ACCA’s Study Hub Chapter 12:
Direct control – controls that are precise enough to address risks of material misstatement at the assertion level.
Indirect control – controls that support direct controls.Control activities (i.e. Authorisation and approvals, Reconciliations, Verifications, Physical or logical controls and Segregation of duties) are mostly direct controls.
Controls in the control environment, risk assessment process and monitoring process are primarily indirect controls (although they may also be direct).
It could be argued that the supervision is a monitoring control that supports the direct control – i.e. is indirect.
As the applications pool is “extremely competitive” – I imagine that the 80% eligibility criteria is strictly adhered to and the first thing ACCA will do is check that applications meet the criteria and discard those that don’t.
Please see what I’ve written here https://opentuition.com/topic/the-use-of-abbreviations-in-the-exam
I think you’d get away with not writing TCWG out in full, but for most things I strongly advise to do this. Also be careful to THINK how many times you are going to use it in each question, if only once there’s no point introducing an abbreviation.
As an auditing examiner and marker I would not give credit where abbreviations are undefined and the marker is expected to guess whether NCA stands for non-current assets or net current assets, or whether AR is audit risk, analytical review or auditor’s report! Such interpretation is not within the job description!
A letter of good standing confirms that the named person has complete the ACCA exams and the date on which they were admitted as a full member. There is then one statement:
“[named person] is CURRENTLY a member in good standing.”
i.e. it is at a point in time.
“Good standing” in the profession means being an active, up-to-date member who has fulfilled all their obligations, including paying membership fees and meeting CPD requirements.
As I advise on a related post https://opentuition.com/topic/letter-of-good-standing-after-re-instatement-to-acca-members-register …
Go to https://forms.accaglobal.com/contact-us-student and select topic “Certificates and transcripts” and then select the option “Letter of good standing” it advises the following:
“You CANNOT download a Letter of Good Standing if there is an overdue balance on your account.
Joint Scheme Letters of Good Standing are available via your myACCA account as normal. The letter generated will be co-branded with the relevant joint scheme.
To download and print your Letter of Good Standing … [instructions not reproduced]
…
If you face an issue or need some help to download a Letter of Good Standing, please complete the form.”To complete the form you need to contact ACCA directly by selecting “Yes” where it says “Do you need to contact us?” This loads a form where you can ask your question. Note that you have to tick the “I have read the data protection statement” box at the bottom of the form before you can submit it.
