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Hello,
I mean acquiring an entity that has negative equity on the balance sheet. Many entities have a lot of accumulated losses which turns their equity negative.
Kind Regards
Thank you, great response!
I am not prevented by the client, it is the related party themselves who are unable to give such confirmation due to technical problems which I am well aware of and it is a special case actually where I am satisfied that the problem exists and so I am reassured that there isn’t a requirement for deep scepticism (but I sure get what you mean, in a normal situation, yes indeed it is concerning).
I guess I will have to look for alternative procedures but I figured I should ask because I felt that these confirmations may be a must, either obtained or a qualification – I am going to look further into the standard too!
Thank you 🙂
Total Periodic Pension Cost.
Cash flow from financing activities.
Cash flow from operating activities.Yes, it is first year audit, that’s why I need to test opening balances. I will check the course notes, and may come back here if I need more details
Thanks 🙂
I came across The Learning Laminuarim by accident, on Open Tuition, and I am thankful that I did. Initially, I was hesitant about signing up for online mentoring services, as I was concerned that I won’t be able to sufficiently communicate with my mentor, but my concerns were not in place!
I was assigned Irwin to act as my mentor, he gave me such focused attention, as if I was his only student! His responses were prompt, his doors were open for me anytime I needed to communicate any doubts or issues, and he provided me with constructive clear advice whenever he reviewed my work, as well as invaluable recommendations that improved my research significantly.
I am glad I chose The Learning Laminuarim for mentoring services, they made the project so much easier for me, and I cleared all components on first attempt with a satisfactory grade.
I confidently recommend their services, they are worth the try!
Kind Regards,
Maha
Thanks Mr Mike, all clear, I have seen your response long time back but forgot to respond.
Hi Keta – If you want to take the hardest ones in December then I suggest P4 and P2, these are the hardest amongst the stated ones, at least from my point of view. Don’t be stressed over remembering P4 though, yes it is true that P4 contains CFA materials, but it is mostly only the Corporate finance topic and slightly other topics which are touched by P4, so there is a load of materials which are new regardless in CFA level 1 and yeah P4 was helpful to me in preparing for CFA level 1 but it was not critical to my success, even the CF topic, I had to study and practice a lot, because the type of questions and style is very different from ACCA. So don’t stress over it much, even if you forget p4 a little, it won’t make that big difference.
Thank you Mr Mike. This answer has actually occurred to me, but I have seen a question a while back (not in ACCA materials) where they started with net income and did not add tax, it was a little multiple choice question, not a comprehensive one and they seem to have completely ignored tax in it and didn’t provide enough info to calculate actual tax paid and deduct it later, so I guess they wanted to keep tax out of the problem all together that’s why they didn’t add it, or else, it was an error on their side.
Anyhow, now I am confident that I was right – Thanks for the response.
Maha
I am currently looking for a mentor and for some reason I am too in doubt about every mentor I come across, probably because preparing a research is something new to me. However, being recommended by OT surely gives me some assurance. Yet, I have some quires to make:
– It says on your website that you provide learning materials, what do your learning materials include? Does it include video instructions and samples of successful projects?
– Do the meetings have fixed dates and timings or will they be scheduled as we go along? Because I am a full time worker and I will need the mentor to be flexible on the timing of meetings.
After clearing my doubts, I will register soon for November Submission.
Many thanks,
Not clear in the link you posted as to what exemption is awarded to ACA qualified people.
CUJO, nice to hear from someone who’s done both so can actually compare. I thought so too, yet some people doing CPA are acting arrogant trying to imply that ACCA is easy because the pass is 50%.
After you do CPA, you don’t get an exemption for F7?
Hi mrjonbain – Thank you, I appreciate it. The thing is, when I started ACCA, I was very excited but a lot of people tried to put me down talking about failing as if it is inevitable, quite annoying! I didn’t find many people with positive attitude and now that I have done it without a single fail, I know for sure that it is all about the hard work and I keep telling this to everyone starting such qualifications.
Hi Umair – I realise my response is late, I am not sure how I totally forgot about this post. I passed P4 and P7 in February 2015 so I sat for CFA in June 15, did you sit for the exam too?
I am currently waiting for my results and I couldn’t be more pessimistic lol but still have a hope to pass! The way I prepared is that I self-studied Schweser 5 books, I watched some lectures online but I didn’t register for any classes or had an instructor, and finally I solved a lot of questions from Schweser Q bank and some mock exams.How did it go with you?
Maha
P4: 60% I was afraid of failing!
Special thanks to Mr John!
14 exams done in two years time!
😀
Hi mrjonbain – I certainly don’t claim to be the CFA expert or anything, I have just bought the books and I am only starting now to study for it, however, I work in an audit firm and I know a couple of CFAs, and to be honest, they are not the brightest people in the world lol 😛 I don’t mean to underestimate them, but i just don’t think there is anything special about them, they are as intelligent as my other colleagues, and two of them have passed level one and two on first attempt! I know they didn’t study much for level three and that’s why they failed!
Every time I tell anyone I am starting CFA, their first response is, it is very difficult!!! Although some of them have no idea what CFA contains in the first place (being in the audit department, their background is mostly accounting really, specifically the people who are not ACCAs, because other accounting qualifications are mostly all accounting/audit, not as diverse as ACCA), I just feel that people exaggerate or just repeat what they hear.
If I pass on 8th of Feb, i will be able to say that I passed 14 exams in less than two years while I am a full time employee too, and I am sure if someone hears me saying that, they will get the idea that ACCA is absolutely easy when this is not true, however, I know other people who spent like 6 years doing ACCA and I am sure if others hear their experience they will get the impression that ACCA is too damn difficult while this is also not true!
To be honest, it is not a matter of difficulty or being a genius, it is just a matter of being a dedicated person, focused and just have a little bit of intelligence of course 😉 That’s all!
I always say these words to every person starting such qualification, it is all about the hard work and efforts and I hope i will be able to do the needful, as I feel too lazy!
Thank you all, and wish you the best of luck!
I think P4 is useful in the sense that it gives you a REALLY good introduction to the CFA level one exam, it is the reason why I opted for P4, because I was planning to go for CFA after I am done. It is not a requirement btw to have finance background in order to register for CFA, yet I think it would have been very difficult for me if I didn’t have that background, it is certainly an advantage. Further more, a big chunk of the level one syllabus is financial reporting, so having ACCA is also an advantage.
As for the qualification being ‘VERY’ challenging, I sometimes feel there is some exaggeration around CFA. Yeah, I do think it is gonna be more challenging than ACCA (I found P4 more challenging than the other ACCA papers) but I don’t believe that CFA is THAT dificult, I think it all boils down to hard work, if you put in the required efforts, you will pass.
@ Mr John,
It is a shame, I would have loved to study CFA with you too! 🙂
Thank you for your response, and yes, as I was going through level one curriculum , I was familiar with the subjects, I can understand what they are talking about and it is all knowledge gained from my P4 study.
Thank you
Maha
Yes, for anyone passing by the posts, I confirm that no exemption are given, regardless of your background. Even if you have a degree in finance or whatever, you will have to sit the three levels. I know that as I already researched the CFA qualification.
Hi Mr John,
I kind of already know the answer to my question, but I thought there is no harm of asking!
I am planning on giving CFA exam in June 15 (provided I pass P4 in February 8 of course! – I am crossing my fingers) and I was wondering if you teach CFA and provide any online courses for CFA? Paid courses are fine with me. I can see that the subjects you teach of the ACCA qualifications are the ones that relate to CFA such as F9, P4, P5 so I thought maybe this is your area of specialty and that perhaps you provide CFA courses.
I think you are a great teacher, so I didn’t want to miss my chance by not checking before starting my CFA journey! 🙂
Maha
The exam was difficult, but I managed to solve the entire paper and I am hoping for a pass!
Thank you very much for your explanation and thanks for your wishes 🙂 Hopefully the exam will be as expected! 😀
Regards,
Maha
