Forum Replies Created
- Posts
Thanks for replying. I have called them for confirmation and they said that they do not consider ACCA as replacement for bachelors degree. However, they mentioned that they do acknowledge Oxford Brooke BSc degree which is awarded to ACCA candidates.
Passed ACCA in first attempt and in minimum possible sittings. Thanks to ALLAH!
Q 1 : audit risk question (21 marks)
Ifrs 2 measurement audit procedure (4 marks)
Ias 17 classification procedure ( 4 marks)
ISQC1 (6marks)
Professional marks (2 marks)Q 2 : three mini scenarios for accounting and report issue ( 15 marks)
Four issues to be discussed with audit committee (8 marks)
Professional marks (2 marks)Q3 : matters to consider and audit procedure.
1 . Ias 37 decommission cost ( 8 marks)
2 . Isa 620 audit expert for accounting estimates (5marks)
3. Ias 8 (5 marks)Q5 : report ( ias 38 and isa 720) (12 marks)
Isa 580 WR ( 6 marks)Total 100 marks
I’ll pray to Allah to make us all pass. Inshallah
Hello Kateker,
I think first of all you need to consider whether liability shall be placed in 1) fair value through profit or loss OR 2) amortized cost
In 1) You can also expense out the T.Cost during initial measurement as in year end, liability will be recorded at fair value which makes no difference in P&L!
In 2) Initial measurement will be at $90. T.Cost would be charged to P&L systematically due to amortization. Hence in the year of repayment liability will be measured at $100
Dr. Liab $100
Cr. Cash $100Hope this helps.
2# If it is a company than there is no private use! Because if employees use business asset, it would not be considered as a pvt use.
Hope this helps!
I think recalculate is used to check mathematical accuracy and re performance is used for test of control effectiveness!
Hello Salu:
I think OM para would be suitable because EOM is used when auditor wants to draw the attention of user to the Matter appropriately presented in the financial statement.
OM is used to highlight auditors responsibilities. As you have to include the following : prior FSt were not audited but this would not relieve the auditor from his responsibility to confirm the opening balance!Hope this helps!
Hope this helps!
For example:
If you have tax income of £30000 and tax gain of £10000(after A/Exempt)
Than : cgt= 18% x (37400-30000) + 28% x (10000-7400)
Hope this helps!