[Deelo]

Hello Trephena,

I have a question regarding my eligibility to appear in OBU program.

I am an ACCA affiliate and from Pakistan, which is not an English speaking country. I have not submitted my English language proof to ACCA before passing F7, F8 and F9, plus, I have given my F4 exam by Computer Based platform in June 2015.

My question is: Am I still eligible to attend and submit my RAP project? Can I prove my English language proficiency by any other thing, such as IELTS?

Thank you.

[Deelo]

Learn and revise all accounting and auditing standards and do as many past exam question as possible. And while doing practice, try to explain every point you make.

[Deelo]

Self study and got 52! Expecting a fail because paper was difficult.

[Deelo]

Did self study and got 61. Over the moon.

[Deelo]

My perspective was to finish section B questions first, which usually consist of Process Change, IT and PM.

[Deelo]

Yes, it was swim lane and POPIT model (2nd consecutive time tested this POPIT thing)

[Deelo]

My answer:

From 1st October x4 to 1st April x5 (collision date) depreciation charge was 15,000 ($240,000 x 12.5% x 6/12).

I picked the Recoverable Amount of 180,000 as its higher from it’s present value of future cash flow which is 170,000 (150000 + 20000).

Depreciation charge for the next 6 months of accounting period is 11,250 ( 180000 x 12.5% x 6/12)

Profit and Loss extract therefore will show an impairment loss of 45000 and depreciation charge of 26250 (15000 + 11250)

Statement of Profit and Loss will show the carrying value of plant 168750.

Am I right, sir?

[Deelo]

From 1st october x4 to 1st April x5 (collision date) depreciation charge was 15,000 ($240,000 x 12.5% x 6/12).

I picked the Recoverable Amount of 180,000 as its higher from it’s present value of future cash flow which is 170,000 (150000 + 20000).

Depreciation charge for the next 6 months of accounting period is 11,250 ( 180000 x 12.5% x 6/12)

Profit and Loss extract therefore will show an impairment loss of 45000 and depreciation charge of 26250 (15000 + 11250)

Statement of Profit and Loss will show the carrying value of plant 168750.

Am I right, sir?

[Deelo]

Annual Investment Allowance. F6. Hah.

[Deelo]

43% Passing rate in F6 UK. All time worst.

Thank god I managed to pass. Thank you Open tuition.

[Deelo]

Scored 56. Thanks to Almighty.

[Deelo]

In the same situation.

[Deelo]

Few nervous hours.

Anyone waiting for F5 and F6 result? What are your expectations?

[Deelo]

Made quite a few mistakes but I think I did fairly well. Waiting for 8 February now.

[Deelo]

Level of difficulty isn’t very high, as I gave mine in September. Cover the whole syllabus and practice a lot of exam questions. Good luck.

[Deelo]

I am not sure If I am allowed here to help you, but this is my solution to your query.

Your products selling price is $20 from which we have to subtract the mark-up to get the target cost.

Selling Price $20 – $6.666(w) = $13.334

Working: $20 / 100 x 33.33(1/3) = $6.666

Your target cost should be $13.334 whereas your production cost is $16 – Cost Gap is 2.666 ($16 – $13.334).

[Deelo]

I am an F3 student so don’t take me seriously, but think you can also use IAS 18 here. This might help you: https://www.accaglobal.com/ca/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f7/technical-articles/revenue-recognition.html

[Deelo]

61,000 – 39,000 = 22,000

[Deelo]

Thank you, Michael. Got the point.

[Deelo]

Read every chapter twice. First to understand the concept, second with an analytical eye. Read available articles on ACCA’s website and do as many kit question as you can.

Plus, I do think Paper F1 is a lot more about common sense than anything else.

Best of luck.

[Deelo]

F4 is becoming CBE from December or from September?

[Deelo]

After how many papers you are applying for the Big 4?

I have heard the firms are asking a lot question on IAS and IFRS…

[Deelo]

I want to ask Anna a question.

Is F4 becoming CBE from December 2014, or is it available for students after June 2014 exams. Thanks.

[Deelo]

Question 1: I think it’s ‘B’. But as Faiz said, I am not sure too about this.
Question 2: I think both, A and B, are correct. You have to choose the best possible. I’ll go with A.

[Deelo]

Sorry, John. I made a mistake in my trail balance.

Here’s the correct TB:

Bank 2240 (DR)
Van 6400 (DR)
Office Furniture 1500 (DR)
Van 7100 (DR

Capital 15820 (CR)

A/C Payable 900 (CR)
Cash 520 (CR)

Also, I know it is called Statement of Financial Position.

[Author]

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