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I apologize as I did not realise that that was illegal/unethical. Just to clarify though, if as a student you have purchased a PDF or e-copy kit, it is illegal to resell it to another student?
While the exam wasn’t difficult, it required a lot of reading so time ran out out me. Didn’t know what to expect in terms of the results but by God’s grace I passed. Thank you open tuition
In the question, net assets for the subsidiary plus goodwill comes to$3,400. The parent sells 10% of it’s equity shares. In preparing the journal entries, the portion going to NCI was calculated at 20% of the net assets. Since only 10% equity is being transferred, shouldn’t the NCI entry be computer as 10% of the net assets? I hope this explanation is clearer.
The exam was so easy that it had you racking your brain. ACCA really got us. smh
Ah!! now I get it. Thanks a million for taking the time out to provide such a comprehensive response.
I do understand the audit risk model and how high levels of inherent and control risks must be offset against low levels of detection risks. However, this particular revision quiz question has me confused as I am not clear as to what is meant by “which risks can the auditor affect in the short term”. I attempted the question, got it wrong and the correct answer was given as “audit risk and detection risk”. How does the auditor affect those risks in the short term? Further, since detection risk is part of the audit risk, why does the answer to the question imply that it’s a risk separate from audit risk? Is it that something is wrong with the question?
Thanks to the open tuition team for the great F6 lectures. The material was a lot to cover and coming on to the September exam date I wasn’t sure that I would have been able to complete all the lectures. But I did and the videos were a great help. It was my first attempt and I was successful. Thanks a million. Congrats to all who passed and for those who didn’t, all the best on your next attempt
