[tud21]

Hi guys I’m interested in the F7 study group, you can add me. Thanks

[tud21]

I Got 56, I’m so happy and I self study. To God be the glory for the great things He has done. I never could have done it without Him.

[tud21]

My advice is make sure you know the syllabus well and study hard. Practice lots of past papers along with revision kit.

good luck.

[tud21]

the word susceptibility means the state or fact of being likely or liable to be influenced or harmed by a particular thing. synonyms are sensitivity or in other words the vulnerability, likelihood.

So let me paraphrase the word “susceptibility” in a sentence. Inherent Risk is the likelihood that an assertion( which is a claim) to a misstatement could be material individually or when combine with other misstatements, assuming there is no related controls in place.

This is my interpretation of the word. Maybe someone might have a better interpretation.

[tud21]

We are using the finance at 2009/2010 curently for june to Dec exams.
However come next year june 2011 there will be some changes to the F6 syllabus. My advise is to do it now.

[tud21]

Hafeezjaved if the one your using says for exam in 2010 or it has the Finance Act 2009/2010 then that’s the one to use.

[tud21]

Capital Allowance are trading expenses and r deducted in arriving at trading profits.
CA is given for period of accounts, pro-rated for long or shor periods.NB: the length of ownership of asset is irrelevant.
CA is given either as first year allowance(FYA), Annual Investment Allowance (AIA) or Written Down Alloance ( WDA).

Two pools exist-
1. General Pool- plant & mach. r pooled & the WDA is cal. on a pool basis
– Entitle to AIA (Max. 50000. this fiqure can be pro-rated)
-FYA of 40% on bal. after AIA
-WDA of 20%

2. Special Rate Pool contain long life assets, Thermal insulation, cars with Co2 emission over 160g/Km
-entitled to AIA but as part of the overall limit of 50k. NB: only 1 AIA is charges for the yr it can be deducted from General or special rate pool.
-WDA of 10%

short life asset- isf so elected can only be so for 4 yrs, if not dispose of in 4 yrs it will be sent to the general pool eg of shor life asset: computer.
– entitles to WDA of 20%
– FYA of 40%
– AIA but as part of the overal limit of 50k

NB: Cars.
bought before april 2009
– if cost more than 12000 pound- max. WDA is restricted to 3000 pound.
– WDA of 20%
– cars costinf 12k of less r place in general pool

Cars bought after april 2009
-cost more than 12k and emitting 160g/KM place in special rate pool.
-gets WDA of 10% and no FYA.

cars with co2 of 111-160g/Km are paced in general pool and gets WDA of 20% no FYA.

cars with co2 of 110g/Km is low emission gets 100% FYA.

Please be reminded that cars only get WDA, no FYA is given to Cars except low emission cars.

hope this info help.

[tud21]

The first accounting period is the date of commencement to the 5 of April?
If the 2nd accounting period is lest than 12 months use the first 12 months profit in the tax year.

[tud21]

Exclusion clauses are terms, which have been inserted into a contract by one party to exclude or limit his civil liability for the consequences of a breach of contract or negligence on his part.e.g. Notices within cloakrooms, hospital changing rooms ect will state “The management will accept no liability whatsoever for loss of or damage to items deposited in this cloak room or changing room, whether such damages is caused by the negligence of our employees or otherwise.

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