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It is in ACCA’s interest that you should be able to find an exam centre, so I suggest you contact the office in Nigeria https://www.accaglobal.com/uk/en/footer-toolbar/contact-us/global-offices.html
What is your question? Quite simply, only a member of a professional accountancy body can call themselves a chartered accountant and only a member of ACCA can use the designation ACCA.
A test of control is to test a “strength” – so when given a control – don’t try and turn it into a weakness.
“Approval” – here of automated credit limits – is a good example of a control activity. The auditor would test this control by looking at the evidence of the directors approval – e.g. a digital signature.
The automated system should not be giving any credit limit to a potential new customer with a poor credit rating. If it did, the sales director would simply not approve it – that does not mean “cancelling it” – since no approval has yet been given.
A direct control is aimed at reducing a risk of misstatement.
A test of control tests the operating effectiveness of a direct control.(Avoid saying risk is an “implication” of tests of controls – that is most confusing.)
IA comparing output of the two systems and investigating differences is a direct control – its aim (presumably) to detect whether any data is lost/inaccurate, etc – thereby reducing the risk of incomplete/incorrect sales data in the new system.
You can download the M/J22 report from here https://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/examiners-reports1.html
I still don’t see where you are getting the word “risk” from – have you read the examiner’s report on this Q? https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f8/examinersreports/aa%20examiner’s%20report%20march%20june%202022.pdf
What you are describing is not a “test of control” – a test of control is something the external auditor performs on a audit client’s controls that are expected to be operating effectively (otherwise there’s no point testing them to see if they’re working).
The paragraph is describing changeover to a new sales system.
What was the requirement to the Q? I don’t know why you are looking to find any “risk” in this paragraph.
What you have written is muddled “It reduces risk of misstatements” – so this is not a risk? – but the reverse? What you say regarding credit limits then seems to be mere speculation – I don’t see how you can suppose this.
Please see this post https://opentuition.com/topic/epsm-unit-8
It means that a candidate could be exept two of the 3 exams and so only have to sit and pass one exam.
Please see advice here https://opentuition.com/topic/mock-exams-37
See here that changing zoom to 100% helped in this case https://opentuition.com/topic/cbe-platform-issue and here someone suggested zooming out https://opentuition.com/topic/cbe-test-platform
It is indeed an annoying but necessary feature for all the exams and usually resolved by following the instruction, making sure to have scrolled all available scrollbars. I suggest you look at the FR exams in the CBE practice platform and find a specific exam where you can cite one or more specific questions where this is an issue for you and contact ACCA directly https://www.accaglobal.com/uk/en/footer-toolbar/contact-us.html (Select topic Learning/ study support and then Practice platform) You should be given the option of uploading files with your query – I suggest full screen snapshots with the error message.
If you get any resolution, I am sure other users of this forum would be pleased to read about it here.
I think it is “standard” – someone else reported seeing it after they sat the exam see here https://opentuition.com/topic/rebook-withdrawal
I suggest ask ACCA directly if you’re worried, as I can’t guarantee another student replying to you https://www.accaglobal.com/uk/en/footer-toolbar/contact-us.html
Anyone reading this thread please see my post above from 7 June 2022. The technical error for a mitigating circumstances claim is that the chatbox doesn’t appear. Candidates do NOT have to wait for any permission when a break has been requested because the system will record them leaving their desk and notifying their return.
ACCA’s fee is “one-off” and lasts post-qualification and through membership.
For subscriptions, there is an instalment payment option:
https://www.accaglobal.com/uk/en/member/membership/managing/pay-your-subscription.htmlI suggest you contact ACCA directly if you need advice https://www.accaglobal.com/uk/en/footer-toolbar/contact-us.html
But it’s not self-contructed, its not a qualifying asset and the interest capitalisation criteria aren’t met …. Whatever the reason for the purchase, it is an item of PPE in its own right and can be sold independently …
Short answer @Sharmaaparul10 – NO
I know I advised you previously about sitting two exams at a time https://opentuition.com/topic/afm-and-sbr-together
Many students will agree, ACCA is “a marathon not a sprint” and if you try to sprint to the finish line, the more exams you sit together, the more you are likely to fail
I specifically advise against sitting ATX for the first time in a March session, because if you do have to resit in June, it will be a new Finance Act, etc.
Welcome to my AAA forum! Short answer – NO
IAS 16: The equipment is an item of PPE that is bought “outright” – borrowing costs could only be part of its initial cost if it were “self-constructed”. So the $8m is not a qualifying asset.
IAS 23: Remember that to be capitalising interest, the entity needs to be:
(1) incurring expenditure for the asset, AND
(2) incurring borrowing costs, AND
(3) undertaking activities that are necessary to prepare the asset for its INTENDED USE or sale.The construction equipment is ALREADY ready for its intended use.
I cannot see that you have made a previous post, but please see here regarding conditions: https://opentuition.com/topic/open-tution-license
This is a questions about types of control activities – see page 72 in our notes here https://opentuition.com/acca/aa/acca-audit-assurance-aa-notes
“Physical to book” is a test for completeness of recording
“Book to physical” is the test for existenceWe generally talk about assertions in the context of risks of misstatement and substantive procedures – controls don’t have to be aimed at assertions. For example “timely recording” is a control objective – but you don’t see “timeliness” as an assertion.
The Q is asking which of these things relating to internal audit services are management’s responsibility. It is the board’s responsibility to design and maintain internal control systems, so thit isn’t a service that Horti & Co could provide.
Welcome to my AA forum! You haven’t actually said, the correct answer is 3 only. If you are querying why 1 is not correct it’s because it says “all fees must be paid prior to the auditor’s report being signed” – this is not a true statement.
For any students reading this, you haven’t said what is the relationship between Charlie and Percy (prospective fathers-in-law). As it states in the Code “Family or personal relationships with client personnel might create a self-interest, familiarity or intimidation threat.”
The prime example of familiarity threat is “A professional accountant being responsible for the financial reporting of the employing organization when an immediate or close family member employed by the organization …” prospective fathers-in-law are neither immediate not close family members.
Whereas self-interest threat is defined as “the threat that a financial or other interest will inappropriately influence a professional accountant’s judgment or behavior.”
This generic post advising the availability of mocks is now CLOSED. Use the RELEVANT tutor forum for queries about specific exams.
If not covered by the debrief video please ask on the RELEVANT Ask the Tutor forum
