[Ehsan]

IFRS 5, require intentions for next 12 months, and the management had the plan and intention to sell within next 12 months.

If i remember correctly it was in August?

[Ehsan]

And as the division is going to be sold soon after it means that division has already reduced significantly in its operations, the Chairman statement was clearly in contradiction with actual facts, and misleading to the users. If assets are sold, there is no way they can produce or operate. Again, it is matter of judgement in an exam as not all facts and details are provided, assumptions can be made.

[Ehsan]

It is not only matter of classification on balance sheet, i assume the assets and liabilities will also be included in Non-Current category also, meeting IFRS 5 they should be shown as current which is very significant in its nature, and can distort many ratios and decisions.

Audit report wont provide detailed analysis.

[Ehsan]

I believe being Chairman is key management position, and does have rights to drive the board.

[Ehsan]

I also added adverse, as it was the significant division. Furthermore, maybe, the operations were discontinued during the year, with no such disclosure, the user of the of the financials are significantly mislead, i believe. But at the end, it is auditor Judgement.

[Ehsan]

Key Member represented on another Company in a significant position is a related party.

[Ehsan]

If you follow some kind of technique, like MTRI, you will be able to close your point within 3 lines.

Same of for Ethical issues, which have different technique.

[Ehsan]

You should firstly, spend enough time in planning the questions. If you have planned properly, and points highlighted, you would be effectively able to write the answer within time.

I know in exams, it is not easy, but I believe this is what exams are, to be able to compose your self and management.

We all have enough knowledge to pass and ace this paper, if time restriction was not there.

[Ehsan]

The examiner only gives you point on whether you have answered your points by providing sufficient details, MTRI – for risk questions, it can be answered in 3 lines, and extra time spend will not obtain any extra marks, only consume time.

Same is applicable for audit procedures questions, were, if you have answered you points addressing – Action, Source and Reason, you will get maximum marks, which can be answered within one line.

Example: Obtain and reconcile fixed asset register to confirm with figures report.

Here, Obtain and Reconcile is Action, Fixed Asset Register is Source, and to Confirm is Reason.

As you can see, the shouldn’t even take a minute to write.

[Ehsan]

The Questions weren’t hard, but as expected time management was issue.

Although, I tried to complete all the paper within the time, still some questions left at end were vaguely answered.

The key in completing this paper in given time is to be concise, and answer your paper within 3-4 factors – Materiality, Treatment, Risk and Impact (especially for Q1 a part) – which should be answered within 3 lines to manage time.

If you spend time in unnecessary building on your points, apart from above, you are definitely planning to waste time and failure.

[Ehsan]

Guys, management discussion on misstatement what you stated?

[Ehsan]

Passed first attempt 55%. Just 2 more papers to goo.

[Ehsan]

My friend in recent attempt was referred to ACO, and had 25-35% matching. He accepted his mistake in first e-mail, and the investigator gave him least penalty, no fine nothing. Just a re-submission fee.

Regards.
Ehsan

[Ehsan]

Thanks, Chris,

Is hedging ratio important for P2? Can it crop up in the exam? Did it come in past?

Regards,

[Ehsan]

@qq419850428 said:
i also have some doubts in referencing Annual Report for many times , for example: AA company

in text citation i put corporation author and pages (AA 2016, P10)

in reference list i will put

AA 2016, AA Annual Report 2016. About us. p.10. Available at: https://www.aa.com/.

am i doing correctly by indicate pages that i used ?

or should i just put in text citation as (AA annual report, 2016) for every single use of annual report and one reference list reference

which one is correct one ??? thanks for your advice

Kindly check referencing forum, you will get valuable inputs.

Regards,

[Ehsan]

Both models should be balanced. One model shouldn’t be exceptionally lengthy than other or vice versa.

No need to repeat research question, but you will answer the questions in conclusion part in part 3 after analysis.

[Ehsan]

@moomi said:
Is there any minimum word limit of SLS and RAP?

Secondly are Bloomberg and euromoniter reliable sites?

No minimum limited but as stated anything below 7000 for RAP and 1800 for SLS will decrease your passing chances.

Yes, ofcourse they are.

[Ehsan]

@qq419850428 said:
As the topic heading : ] i am doing topic 8

How many business models need i write, feel like SWOT will be enough for my RAP

after my SWOT analysis, just felt that it will be too much passage for business models if i write another PEST analysis.

i have done my SWOT , each of them got 3 bullet point with reference , it takes lot of words of RAP , is that ok that i just write one business models and followed by financial analysis ??

thanks for your help

Mostly, 2 models are done. Not sure if 1 model will be accepted, but definitely it will reduce your grade if given a pass.

[Ehsan]

No need for referencing in Presentation slides.

[Ehsan]

Yes, remove exceptional items and explain. You can then explain further the impact of exceptional items also.

[Ehsan]

Normally we will use past tense like – “The revenue of company A fell in 2015”, because the year has ended and it was past event. “The fall in revenue was due to recession in the economy”, again past tense. This was for part-3. For other parts you can choose mix of tenses, like “I chose this topic because it will help me in my future studies”.

But never use Could or Would, conditional tense, when explaining the reasons for the company performance is part 3. For example, “The revenue of company A fell in 2015, this could be because of recession in the economy”, this will give you fail, because the markers want definite reasons not guesses. “The revenue of company A fell in 2015, this was because of recession in the economy”, is correct.

Yes, anything below 7,000 or 1,800 can decrease your chances of passing.

See latest infopack, and search for format, you will see what they require in each part. If you have covered that elements then no need to add anything else in part 2.

Regards,
Ehsan

[Ehsan]

Sometimes, postal services are not good in the region you live and it might take months to receive your certificate. If you want the certificate sooner, you can easily ask OBU to send them through DHL courier service, it might cost you couple of bucks though.

Regards,
Ehsan

[Ehsan]

@hoangduchung1903 said:
Anyone received the certificate by post ? I have not yet.

Should I contact OBU about that ? Does anyone know how long the delivery normally takes ?

You should have deadline or estimate time of delivery in confirmation letter. Just check that, and if time has passed from deadline contact ACCA/OBU.

[Ehsan]

not necessarily, it depends on materiality of the information and things happening in the year.

[Ehsan]

Yes, this will make strong base for ratios and business analysis.

[Author]

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