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yes, of course

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My pleasure and good luck for both of us!!! this is my last sitting and I really want to make it happen!!!

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It is unlikely that questions like this (calculation of Z-score) will appear on the exam, but even if it appears it is simple that 1.2X1+1.4X2+3.3X3+0.6X4+X5…it is simple…but it is highly unlikely, but you can’t predict Alex Watt…..

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Dear Mykekal, if the question is about evaluation of the performance management report, yes you need to evaluate from the purpose, audience, content (information) and layout perspective.

However, if the question is about evaluation of the performance management/measurement systems, you should evaluate whether the system in place is effective in addressing the strategic objectives of the company, shall evaluate whether the performance measurement is linked to strategy or mission, or whether the reward is linked to performance in a way to address the strategic objectives. whether the system addresses both financial and non-financial, short-term and long term objectives, qualitative and quantitative issues, internal and external matters like customer satisfaction and competitors actions etc.

That means the two are different…hope this will help out…

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Guys, i failed on P4 two times and gave up and changed my mind to take P5 next sit. What do you advise me. I think P4 is the most challenging paper of all ACCA papers and requires more understanding and exercise. due to my office work I can’t allot that much time and I passed all the other papers without complete reading of the text and the kits. but this time i can’t and i decided to take P5…

Thanks for your comment….

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i think yes, it is possible but after the introduction part to keep the structure of the report.

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55 at second attempt and one more paper left to be an affiliate. P4 or P5 , which one do you advise me to go with one attempt. thank you OT!! you really help me…please keep it up.

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tolerable misstatement is for financial statements and tolerable rate of deviation is for internal control. an auditor evaluates the effectiveness of the internal control systems of the client in assessing control risk so he/she needs to set tolerable rate of deviation (deviation of internal control systems from the auditor’s expectation). on the other hand tolerable misstatements are set to determine miststements in the financial statements when applying substantive tests (tests of detail). i think you have to know the difference b/n test of control and substantive tests first, then in test of control you need tolerable rate of deviation and in substantive test you need to set tolrable misstatements

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yes, a question may come with similar nature…so being aware pays you off

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both refer from the previous year but corresponding figures refer to specific figures from previous financial statements for instance previous year revenue, net asset, liability, or a figure for a specific financial statement item for that matter (receivables, payables, inventory, PPE, expense, etc). comparative FS refers to the FS as a whole, not specific figures.

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thank you for your clarification hajamuslim. FYI a single material misstatement can be considered as pervasive if it constitutes a significant part of the group asset, group revenue or profit. for instance if a subsidiary asset that is 80% of the gruop net asset is materially misstated, it is pervasive.

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in brief transnational audit is an audit of the client’s financial statements where by the audited financial statements will be used by countries outside the clients jurisdiction for example for loan or taxation purposes. please look on the exam kit for more explanation and illustrations

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obtaining is a procedure but not complete by itself. you have to do something with it like reconcilation with the G/L or validate the figures, etc…

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I agree with Hajamuslim and Eriap. in aggregate remebering ISAs and their name (together with adequate explanation of the ISAs) will have material impact on passing or falling on the exam…so try to grasp as much as possible. I just tried to remember them this week and at least i have grasped much of them and still struggling to remember the IASs.

good luck!!!

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any one who got a copy by chance please send me at temesgeneta@yahoo.com

thanks!!!

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Would appreciate if any one can send me a copy at temesgengeta@yahoo.com

thanks

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I recommend to begin from part B questions with a strict time management and come back to part A question. I myself usually begin from Part B questions but with a problem of wasting more time by writing more in these part B questions.

See the recent advice on time management from a release by ACCA.

Time management
In an exam, effective time management is vital. If you run out of time, then some questions (or parts) will be left unfinished and marks lost.

The key to good time management is to divide the time allowed between the marks available. For example, in a three-hour exam allow 1.8 minutes per mark, and in a two-hour exam allow 1.33 minutes per mark. This allocation gives a rough guide as to how long to spend on a question or part. Candidates often waste time by:
• working on a requirement for longer than necessary because they wish to correct a mistake and amend all related follow on figures
• feeling they have so much to say about a certain requirement that they ‘dump’ all their knowledge in the Candidate Answer Booklet
• persevering for too long with a question even though they are struggling.
Candidates can avoid these problems as follows:
• If you discover an error in a calculation or on a financial statement, only correct the initial error. Don’t waste time making all the follow through corrections. By leaving the original error uncorrected, the only mark(s) lost are those associated with that particular entry or calculation, as ACCA uses a ‘method’ or ‘own figure’ marking policy. If the method adopted is correct, credit will always be given despite incorrect numbers being used.
• Only make as many points as there are marks available. For example, if five marks are available for discussing a theory, only make five (or possibly six) separate points. If the total mark available is a round number, then the examiner usually awards one mark per relevant point made. So, in this situation, even making 10 relevant points will earn no more than the maximum five marks available, and so writing those additional points wastes time.
• If you are struggling to get to grips with a requirement, move on to the next requirement, or even question, leaving enough blank pages in your Candidate Answer Booklet to complete it later.

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would appreciate if any one of you can send me at temesgengeta@yahoo.com or temesgeng@ethiopianairlines.com

thanks!!!

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dbuk2000 gave you the right advice. it all depends on your interest and commitment. look your professional goal (career development) and your interest and select one. I don’t think P4 is harder than P7. I myself am studying P4 for December 2011…Good luck!!

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Very interesting thread. I am on the last two optional papers and planning to take P4 and any other paper in December. which one of the three optional papers (P5, P6, & P7) shall I add to P4? I work full time and home study for all the past acca papers and will continue in the same manner for the remaining too. the other problem is I dislike Bpp which seems full of stuff and unnecessary details but have no option since no kaplan is available in Ethiopia this time. i lost confidence in reading Bpp as i used to read kaplan texts as i like its presentation and contenet very much. is there any difference to use either kaplan or Bpp kits?

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those who haven’t yet seen your results please check on the below link https://portal.accaglobal.com/Results_Login.html

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I would also be very happy if someone can help me with summary of latest IASs and P2 Syllabus too. i can be reached at temesgengeta@yahoo.com

Thanks!!!

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yes there is a change in P2 for the June exam. how significant that change is please refer January/February technical article.

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nice idea. please count me too. FYI our time is GMT + 3

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I think you need to buy the new one as there is some adds and drops in the new syllabus following course revisions. but you can also study your old books with articles on the adds.

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