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@accaglobal_bot For Uzbek students https://t.me/accauzbekistana f5 https://t.me/f5performancemanagament f7 https://t.me/FRfinancialreporting f8 https://t.me/f8auditandassurance f9 https://t.me/F9FinancialManagment
PM is the most difficult paper . I am sure you have heard this from many people . But I say instead of believing what others say try it for yourself . So I scored 85% in the PM paper and here are my tips for it .
1 Study phase :
Make sure you start early , know your syllabus . watch the lectures and please make sure you make your own notes , it gives you a deeper understanding . Secondly DON’T ignore theory based portions like balanced scorecard and building block model . I know it is boring but it also comes with greater marks coverage .Having said that even for numericals focus on the concepts of the methods rather just mugging up the steps for the question , if you do this you can tackle any question ACCA throws your way .Do not skip any part of the syllabus , parts like learning curves , high low method can be tested in many questions so make sure small topics like these are covered . I am sure you can do all of the above but you will forget it , so for that focus on revision , make sure you take out 1 hour everyday so that the concepts remains as fresh as paint .Practice is the key to progress . Try to solve the kits and even practice questions from studyhub .This will increase your confidence . If you do any questions wrong make sure to mark it and get back to it later. Mark my words , you will not repeat the same mistake again if you do .If you are a part of any study groups then help your peers , this will help you know common mistakes and also increase your confidence . In every paper there are easier parts like in PM costing and some decision making is easier so take maximum marks out of it . Before a week or two focus on doing mocks and tests, this will help you know where you stand and then focus on weaker areas .
Performance measurement is often considered a difficult section ,so try to practise as many questions , compare your answer to ACCA scripts and then use the technique in other questions , dont be general but specific to questions .
2 Exams
Everyone has a different approach of attempting the paper . I always do my MCQs first as easier marks can be gained easily .There are always gonna be questions which will spin your head, but dont worry much about it. Grab the easier marks . Focus on time management . Try to solve the sec a and b asap so that you can get max time for sec c .Read the questions . Sec a and b is checked by a computer , so make sure to read things like decimals , to the nearest thousands etc .Believe me alot of students fail because of this .In sec c , dont worry about getting one part wrong because acca doesnt give you zero for one wrong answer . different marks are allocated for different parts so focus on what you can do right .
I hope this helps you . If you think this tips are helpful please subscribe to my youtube channel https://www.youtube.com/channel/UCIj_0Cm08BE3CscXUXYhfDw
. I make ACCA motivational vlogs and also share tips and tricks there . Do subscribe and support me along in my ACCA journey .
Depreciation Demystified: Where should we show depreciation on the Statement of Profit and loss ?
The treatment of depreciation in financial reporting depends on the nature and use of the asset within a company. The approach varies based on whether the asset is used in production, administration, or marketing/delivery. Here's a breakdown:
1. Production-Related Assets:
- When an asset is utilized in the production process, such as machinery or equipment on the manufacturing floor, the depreciation incurred is considered a part of the production cost. In this case, depreciation is added to the cost of goods sold (COGS). This method aligns with the principle of reflecting the true cost of producing goods by incorporating all relevant expenses, including the wear and tear of production assets.
2. Administration-Related Assets:
- For assets associated with administration functions, like computers or furniture used in office spaces, the depreciation is attributed to general and administrative expenses (G&A expenses). This recognizes that these assets contribute to the overall administrative efficiency and are essential for the smooth functioning of the business. Depreciation is thus accounted for in the G&A expenses section of the income statement.
3. Marketing/Delivery-Related Assets:
- In the case of assets, such as vehicles used for marketing or delivery purposes, the associated depreciation is incorporated into selling expenses. This acknowledges that these assets play a role in the selling process and the overall delivery of products or services to customers. Consequently, depreciation for these assets is included in the selling expenses category.
4. Simplified Presentation:
- For simplicity and ease of presentation, some companies opt to consolidate all depreciation expenses into the cost of goods sold (COGS). This aggregated approach simplifies the income statement by providing a total depreciation figure directly associated with the production and sale of goods. While this simplification may not provide a detailed breakdown by asset type, it streamlines financial reporting.
In essence, the treatment of depreciation aligns with the specific function and contribution of the asset within the business operations, ensuring that the associated expenses are appropriately reflected in the relevant sections of the income statement. The decision to consolidate depreciation within COGS adds a layer of simplicity to financial reporting, facilitating a clearer presentation of overall expenses associated with the production and sale of goods.
ACCA Qualification
Pass rate (%)
Applied Knowledge
BT - Business & Technology
85%
FA - Financial Accounting
69%
MA - Management Accounting
68%
Applied Skills
LW - Corporate and Business Law
78%
TX – Taxation
54%
FR - Financial Reporting
48%
PM - Performance Management
42%
FM - Financial Management
48%
AA - Audit and Assurance
41%
Strategic Professional - Essentials
SBL - Strategic Business Leader
52%
SBR - Strategic Business Reporting
50%
Strategic Professional – Options
AAA - Advanced Audit and Assurance
34%
AFM - Advanced Financial Management
45%
APM - Advanced Performance Management
34%
ATX - Advanced Taxation
49%
Past Year's exam to prepare for the Misterm Exam coming in January 2024!
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What are the tax benefits to being married?
For income tax purposes, income from jointly owned assets is split 50:50. Alternatively, you can make an election to apportion it based on the actual capital contribution.
For capital gains tax purposes, transfer of assets between spouses take place at nil gain/nil loss allowing a couple to utilise both their annual exemptions and unused basic rate bands.
For inheritance tax purposes, transfer of wealth during the lifetime and on death is covered by the spousal exemption. However if the transfer is to a non UK domiciled spouse, the spousal exemption is restricted to just £325,000 .
It is possible to access the unlimited spousal exemption by the non-UK domiciled spouse making an election to be treated as UK domiciled.
#ATX #tax #acca
DECEMBER 2023 Exam results
Exam results will be released 15 January 2024
These are my own Sample Answers to solve Section C questions in ACCA Study Hub💥
As I told you, guys, before I did not solve or practice any Section C question in both Kaplan and BPP, I used only ACCA Study hub for Section C questions. In addition, I solved them twice and review them so as to be able to solve different types of questions in the exam.⚡️
📚This is the latest Kaplan Study text
Why am recommending Kaplan Study text instead of BPP?
The reason is that when I was about to start my preparation, my teacher advised me to use Kaplan study text, since Concepts and their explanations are more detailed in Kaplan and also the number of chapters)
Have you already completed EPSM?
Will this circle show that you have already passed exam? Or will it remain unfilled?
Hi , this is how I studied for audit and got 80% and got a rank .. So firstly make sure that you have clearly understood the stages of audit and what kind of question comes from each stage . 1. Initial planning stage - The ques that comes from here are mostly about engagement letters and the things you have to consider for audit . The next most important is the planning stage from where you will surely get a risk response question . For risk question you need rigorous practice . WHile practicing first try to identify the risk and then design a response but look at the answer provided by acca of how it is drafted , that is very important . Identifying risk is not that much big of a deal but writing a response to it is . The answer will either be internal control or from substantive procedures . Now the next part is internal control from where control deficieny or strenth is surely coming and you know how to get it right , practice is key . The most tricky part for most students is substantive procedures , the worst mistake you can do is rote learn it .Yes you do need to memorise it but try to just make the substantive specific to the answer .You dont have to get it right the first time . What I would do is I would refer to the acca ans which made it easier cause their answer has a specific format . Reporting and review is totally important .so make sure you know how any event affects the report and the audit opinion . There are some small topics like ethics, corporate governance which should not be a problem,the question from this topic mainly comes in section A so make sure you do not ignore smalll topics . Now the other part is knowledge based questions .Do not ignore these . You can follow kaplan book for such . I prepared all the small topics through skans notes , so I can share that with you if you want . One other thing is your typing speed . No matter how good your concept is , if you have trouble writing it all down in exam then thats no use , so for that use an external keyboard while you practice . Most students tend to find Sec A difficult but dont be scared , just make sure your concepts are strong and also practice as much questions . Do read technical articles also for each topic which will come handy for section A . So yeah this is some things I suggest you do , Make a word document of every unique risk and internal control questions and also frequently asked substantive procedures , and go through it everyday . This will make you more confident . While attempting exam , try to finish the sec a ques asap so that you have some extra time for sec B . I hope this helps you . Audit can be a intimidating subject because everyone makes you believe so , but just practice as much as you can and go get it . If this has helped you then I have a youtube channel where I post ACCA related content like my study vlogs and also tips .So please do subscribe.PRABISHA BHARATI
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I have a question when calculating cgt liability, what drives the rate that is used for residential property. When would you use 18% and when would you use 28%
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BRICS is expanding.
Saudi Arabia, Egypt, UAE, Iran, Ethiopia have officially joined the union starting from January 1, 2024.
Its (BRICS’s) aim is establishing deeper ties between member nations and cooperating on economic expansion, including trade.
The syllabus of #F4 “Corporate and Business Law” includes more detailed information about such non-governmental organizations.
Isn’t it?
why depreciation does charged to cost of sale or operating profit?
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It’s raining…☔️
As it’s said every drop is came down by angels✨
So, tell them about your wishes😊
📈These two are Kaplan Exam kit and BPP revision kit to practice Financial management questions and assess how effectively your learned the concepts.
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All deadlines are 2359hrs UK time on listed date.
Exam entry for MARCH 2024
Exam entry opening date
7 November 2023
Standard exam entry deadline
29 January 2024
Late exam entry deadline
5 February 2024
Exam attendance dockets
Exam attendance dockets will be made available to download from myACCA approximately three weeks after standard entry closes.
This includes a timetable of all the exams that you are entered for, details of the desk that has been assigned to you for each paper exam, and the address of your exam centre.
Mandatory System Tests
For remotely invigilated exams only, the last mandatory system test result which must be a pass, should be taken between 16 December and before starting your exam check-in process.
For further information on cancellation eligibility criteria please visit our remote session exam post-exam options page
Amending an existing exam entry
The deadline to amend an existing exam entry is 29 January
Requests for additional support
Requests for additional support must be received by 29 January
Exams take place
Exams will take place between 4-8 March
Centre complaints closing date
Centre complaints must be received by 12 March
Mitigating circumstances closing date
Notifications of mitigating circumstances must be submitted by 19 March
Exam cancellations
Cancellation requests must be received by 20 March
Exam results
Exam results will be released 15 April
Opt in to receive results by text
You need to opt in to receive results by text using myACCA. You must opt into this service at least seven days before results are released. You will only need to opt in once, all future results will then be sent by text.
Administrative review closing date
Administrative review requests must be submitted by 24 April
Administrative review outcome release date
You will receive written confirmation of the outcome of your review via email no later than the week commencing 6 May
Administrative review appeal closing date
Administrative review appeal requests must be submitted by 15 May
Mitigating circumstances appeal closing date
Mitigating circumstances appeals must be received by 15 May
Administrative review appeal outcome release date
Outcomes of administrative review appeals will be released on 22 May
Mitigating circumstances appeal outcome release date
Outcomes of mitigating circumstances appeals will be released on 22 May
Exams cycle
The exams cycle for this session runs from 1 January 2024 to 31 March 2024
How looks just to be aware (be smart) and having an experience (apply the knowledge at work)😎
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