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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.
Welcome to my AA forum – to ask questions, select “create a new post” – give your post a meaningful subject line (e.g. if it is about a specific Q, the name and exam session).
Have you looked at he resources on this page? https://www.accaglobal.com/uk/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/exam-technique.html MOST IMPORTANTLY the “Read the mind of an AA marker” article and the examiner’s reports – just a couple should be sufficient to give you the gist of what is sufficient to earn 1/2 mark or 1 mark .
Have you attempted ACCA’s Mock? https://opentuition.com/topic/acca-pre-march-2025-mock-exams-available-now – it’s not too late – and the advantage of sitting this mock is that there is a debrief webinar to help you assess your answer.
Also see this resource for the March exam https://opentuition.com/topic/march-2025-infocus-webinars-examiners-report-unlocked
Last but by no means least – there are some “AA key articles” at the bottom of this page https://opentuition.com/acca/aa I STRONGLY RECOMMEND that you read this before attempting any more Qs https://opentuition.com/acca/aa/audit-tests-difference-tests-control-substantive-tests
Apologies for the delay in responding, I only just saw your post yesterday. I have made an enquiry to ACCA and will reply as soon as I hear anything.
Short answer – I think not as it is not “perfectly ok”.
From the examiner’s reports:
“Candidates often use the copy and paste function when identifying risks. When doing this, care should be taken to ensure that the risk is actually identified. Simply stating a fact from the scenario is not always the same as identifying an audit risk.”I would go further and caution that mere repetition of anything from the scenario does not “add value” and is therefore not worthy of marks.
Looking at what you copied, a marker may think … “so what?” “tell me something I don’t know”, “are you expecting ME to identify the risk”?
You should expect to make at least some “tweak” to the wording to convey what the risk is – here it is having capitalised ALL costs, when, as you would have to go on and explain, not all costs meet the asset recognition criteria.
If you could please use the AA tutor forum https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-audit-and-assurance-aa-exams, I check it and respond to posts every day.
I recommend you look at s.4.3 “Examination Skills” in Chapter 15 of the ACCA AA Study Hub. You will find 4 techniques illustrated: Assertions, Direction of Testing, “T” a/c entries and “AEIOU”.
If you’re in Romania, I suggest you contact ACCA Southern Europe’s office directly, as a local office is most likely responsible for issuing membership cards and can confirm the requirements fpr sitting examinations.
Oh but it really isn’t subjective! The exam has 30 marks of objective test questions and objectivity is the most fundamental principle of an auditor 🙂
I was hoping I might see you on my AAA forum!
3 & 4 are both substantive procedures – but again very different as they each consider a different source of income.
3 is looking at income from charity events – tracing from issued tickets to recording in the financial statements. 4 is looking at the one-off donations received through the post.
A good answer should appreciate the different timings of the different sources of income – subscription donations are fixed and monthly/regular, charity events are at 3 points in time during the year and postal donations may be of any amount at any time of the year.
An additional substantive analytical procedure to test for completeness would be “proof in total” on each of the charity events – # of tickets issued x average ticket price compared to recorded income.
Short answer – they would most certainly each be awarded a full mark.
1 & 2 are similar in that they are analytical procedures, but they are distinct – 1 is looking specifically at the monthly donations – each donor would sign some sort of bank mandate (standing order or direct debit) – and the auditor would expect this to be the same every month – any increases must mean new subscribers – and any decreases would indicate a subscription cancelled (e.g. if a donor dies, the bank would freeze their a/c so no payments would go out).
2 is looking is comparing prior year total income with the current year. Identifying any significant changes is also a risk assessment procedure, but confirming them is substantive. For example, the directors might say that they had to cancel a charity event due to …. an outbreak of flu/a powercut/inclement weather … and the auditor would have to confirm this.
I am sorry I didn’t see this post 10 days ago. I have tried in the past to engage with ACCA on this and similar issues https://opentuition.com/topic/acca-remote-exam-result-issue but I have not been able to do anything to expedite a resolution.
I think the best thing is if you can send an email to the person/department on the last communication you received.
No it is not an exam – it is an online course that you have to work through and complete an assessment at the end https://www.accaglobal.com/uk/en/help/faq-ethics.html
Consider, for example, June sales are 3000. Purcahses are 40% of sales and made one month in advance – i.e. 1200 purchases in May will be paid in July.
July sales 2250 means June purchases 900 paid in Aug …
August sales 3400 means July purchases 1360 paid in Sept …
Now PLEASE wait for the debrief – such points will be explained. The relevant forum will then be https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-financial-management-fm-exams – this is a GENERAL forum for questions that are not exam specific.
If after you have watched the debrief there are any questions you still need answering, you may ask on the ask the tutor forum.
Welcome to my forum!
You can download the notes and all our AA resources from this page https://opentuition.com/acca/aa
Please READ my post/reply. See here https://www.accaglobal.com/gb/en/student/exam-entry-and-administration/prepare-for-exams/InSession-exam-countdown-emails/mock-exam-event.html where it says that debriefs will be available on Friday.
You can – BUT – see my response to this similar post https://opentuition.com/topic/marking-in-the-exam-for-substantive-procedures
Can you please ask on the Tx tutor forum. I can only answer non-exam specific queries here.
Short answer – don’t go by the pass rates when choosing the options that are right for YOU.
There’s a helpful article here https://www.accaglobal.com/uk/en/student/sa/study-skills/options-choices.html
If you look at the pass rates here you will see that APM and AAA generally share the lowest, and ATX is only marginally higher than AFM.
I would say the level of difficulty IS similar and ACCA works very hard to achieve this. Many students embark on APM supposing that following on from PM it will be a “numbers” exam – but an APM, like AAA can have next to no numbers. This is an additional challenge for candidates whose first, second or even third language may not be English.
YES – “going …” is good – this is the basis on which financial statements are prepared in accordance with IFRS Accounting Standards.
NOT “going …” or UNCERTAINTY about “going …” is not good – and have specific implications for the auditor’s report – when you get to that part of the syllabus 🙂A going concern will therefore have good/positive cash flow i.e. an excess of inflow over outflow.
“Low” cash reserves means an entity may struggle to pay it suppliers as its debts fall due – i.e. is an indicator that it may NOT be a going concern.
Hello again! Just to let you know that if you are referring to a past exam Q in the CBE practice platform of Study Hub, you don’t need to copy and paste it in entirety into a post – I am familiar with all the Qs and have access to them. (It’s better that your post focuses on the most specific details of your query.)
Here I am wondering if you miscomprehend “going concern” and that you think it to be a “bad” thing” when in fact for an entity to be a “going concern” is a “good” thing. “Concern” in this context does not mean something to be concerned/worry about – it is an old-fashioned word for “business” or “enterprise” – so for a business to be “going” means that it is continuing. In the accounting definition of the term, “going concern” means continuing in operational existence for the “foreseeable future” – which is taken to mean at least 12 months from the financial reporting date.
