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@janchow who said it was sorted is more likely to see your related post if you post on the same thread https://opentuition.com/topic/access-to-epsm-in-myacca-issue
WELCOME to my AA forum and please accept my sincerest apologies for not replying sooner!
As is stated in the examiner’s report https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f8/examinersreports/aa-sd21-examiner-report.pdf
“Marks are awarded for identification of deficiencies (½ mark each), explanation of
the implication of the deficiency to the company (½ mark each) and an appropriate
control recommendation to address each deficiency (1 mark each).
The scenario will typically contain more than the number of deficiencies required … ”So if you separate into 2 points and for each you have a different implication and different control recommendation you would be awarded up to 4 marks. I suggest that the model answer (reproduced by Kaplan) combines because it is matched with only one control recommendation (review of exception reports by a responsible official).
I should also clarify that the appeal process does not follow on from the issue of results First you have to apply for an admin review. Only after that can you appeal. I have been answering posts about admin reviews here for nearly 8 years, and not once has a student reported a change in outcome.
I recommend you put it behind you move on. There’s nothing to gain in postponing, see for example here https://opentuition.com/topic/urgent-please-please-help-failed-both-fr-aa-at-49
As a former AAA examiner I can tell you it is not possible to give marks to an answer that doesn’t exist. And as I have explained on other posts, mitigation can award only a few marks, it cannot scale up total marks awareed by the marker by a proportion or factor.
No there is not. The feedback scheme provides additional support to those who struggle through the applied skills level. But the S/D25 examiner’s report should be available soon and perhaps provide some insight https://www.accaglobal.com/uk/en/student/exam-support-resources/professional-exams-study-resources/p4/examiners-reports1.html
As I posted to another student yesterday, I do not advise sitting TX/ATX exams for the first time at a March session https://opentuition.com/topic/exam-prep-strategic-levels – but it depends on how successful you are at passing exams at a first attempt.
If it helps, I generally advise against sitting ATX or TX for the first time at a March sitting, because the exam year for TX is June-March rather than Sept-June, so if resitting in June were called for, it would be a new Finance Act.
Welcome to OpenTuition forums! Can you please ask on the ask the TX tutor forum? (This is just an information post.)
As long as EPSM is also completed by September 2027 – please see this post for the link to ACCA’s transition tool https://opentuition.com/topic/acca-new-qualification-transition-tool
Short answer is YES – if you put “long break” into the search function https://opentuition.com/search-opentuition/#gsc.tab=0, you will find this and similar posts https://opentuition.com/topic/getting-back-to-study-after-a-long-break-need-advice
Counting inventory on different dates increases the risk that transactions are allocated to the wrong accounting period. A “clean” cut-off is best achieved by stopping all movements and counting all inventory on the last day of the reporting period. The last goods received/despatch note numbers of goods movements in/out immediately before the count are used in cut-off testing of purchase/sales transactions.
I don’t have the Q to hand, but if there are goods movements 29-31st August (presumably), they will all have to be correctly accounted for. This relies on complete and accurate recording of all goods movements.
I think there is quite a detailed explanation of sales/purchases cut-off in the inventory chapter (23?) in the Study Hub.
Please check out the posts in the EPSM forum https://opentuition.com/forum/ask-acca-tutor-forums/acca-ethics-and-professional-skills-module
@Robo2795 thank you for sharing that information about centres in the UK
Welcome to my forum! That’s a good question you ask – though I think you have answered it yourself. The inventory RoMM seems clear to you so I’ll suggest a couple of reasons why revenue recognition is less likely to be a RoMM, even though there’s “variable consideration”.
You’re looking at stores, ie a retailer, so revenue is recognised at the point of sale. At the POS, there is a double-entry, if overcharged the customer will likely complain to rectify the matter, if undercharged and they walk away, the sale is under-recorded (on both sides) but there will be no misstatement in the financial statements (ie it’s a business risk of being a retailer).
The presumed risk of fraud in revenue recognition (ISA 240) is typically overstatement rather than understatement.
The risk in inventory valuation is much more likely because the write down to NRV is “it’s own double entry” and an accounting estimate.
What can I say? This is consistent with my original advice “I have been advising ACCA students for 30 years and my best advice to you – honestly – is to draw a line under the matter. Hanging on to what is not even a remote chance of a successful appeal is just postponing moving on and resitting the exams.”
I know from first hand experience that the admin processes are very rigorous.
I know you had your sights on OBU, but again – to be honest – a professional qualification has more kudos than a degree. If you’re desperate to have a degree you could always consider a master’s post qualification.
Welcome back to my forum! That’s a good question. Let me clarify a couple of points …
Written representations are not “to” management – the auditor writes the representations needed for management to sign – so representations are “management’s representation” i.e. “from” management.
Then the representation is not that fraudulent transactions “are known” but that those that are known (or suspected) have been disclosed to the auditor – it’s a good example of a representation relevant to the completeness assertion.
This is the illustrative wording from Appendix 2 of ISA 580 Written Representations of three representations concerning fraud:
• We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud. (ISA 240)
• We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:
o Management;
o Employees who have significant roles in internal control; or
o Others where the fraud could have a material effect on the financial statements. (ISA 240)
• We have disclosed to you all information in relation to allegations of fraud, or suspected fraud, affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others. (ISA 240)Ah! Congratulations on your membership and thank you for taking the time to add information to this post for the benefit of other users.
I have read that when selecting download, there’s an option for active students to choose all or passes only.
@Yocheved – welcome to this forum – though your question should have been a new post rather than attached to this unrelated post. If you use the ACCA exemptions calculator https://www.accaglobal.com/uk/en/help/exemptions-calculator.html and put in AAT as the Institution you will see that AAT level 3 does not get you any exemptions from ACCA’s professional qualification, but if you pass AAT level 4, you will be exempt the first three knowledge exams (BT, MA and FA). So you don’t need to study separately for AAT level 4 and ACCA’s BT/MA/FA. If you’re planning on registering for ACCA and not sitting AAT level 4 there’s not reason why you can’t start studying for ACCA while completing level 3.
The notes here https://opentuition.com/acca/aa are valid for exams to June 2026 and take into account the consequential amends for IFRS 18.
And remember June is the first exam of each new syllabus/finance act (or equivalent).
UK students are generally better supported in the UK, not only with tuition, but relevant content that is technically updated. There in minimal/no support for some variants with texts that have relevant technical content but no uptodate exam style and standard question practice.
Yes – select topic: Exams
select option: Booking an exam
select exam booking type: Session booking
scroll down past all the information in blue box
Do you need to contact us? It’s down here that I’ve seen “live chat” feature – but it’s possible that due to the current booking issues it’s either too busy or suspended.
In the absence of “ask chat”, select Yes and fill in the required information for sending an email.
