[ursulaanna45]

Hi

I was starting off from non accounting background and from what i see now the best would be to get a trainee position with one of the Big 4- KPMG, Deloitte, EY etc that is the best start (no the way I went sadly )

you have good degree and some working experience so try and see if they take you on, you will possible take hefty pay cut at the start but after you’r done with exams and their training you will move on to 50k£ job mentioned above quite fast

otherwise , you have to start from the bottom in the industry but it is highly unlikely your training will match anything that you will get with Big4

minimum 4 years mentioned above is very optimistic and so is the salary I am afraid, unless it is assumed you will get excellent training, work hard, pass all exams first time etc

I wish you all the best, but manage your expectations, this career is very competitive and I need to admit from personal experience, it can be very unforgiving in situations such as yours

keeping fingers crossed for you and good luck!

[ursulaanna45]

Hi

Thank you for coming back to me on this

[ursulaanna45]

That’s ok
Thank you for coming back to me in relation to this

[ursulaanna45]

That makes sense
thank you for your help!

[ursulaanna45]

Thank you

I see the point…

so really, it is in the year of addition when the auditors should consider if management’s estimates are reasonable ?

assumption is then, should this be free of management’s bias, asset will be written off and disposed or scrapped either earlier or in line with the estimate ?

[ursulaanna45]

Thank you

I have no intention of leaving out the areas that have been covered, I will learn these well for exam 🙂

But examiners always add some extras to what thay examined before and I am trying to think of what it could be this time

[ursulaanna45]

Hello

yes that makes sense,

I have a problem with making my answers more relevant to the situation in the question, I suppose out of fear of loosing the marks for showing that I know the theory but in P7 it seems doing this doesn’t go a long way at all

Thank you or coming back to me on this

[ursulaanna45]

yes, that would be the way to go about it actually, it makes sense
Thank you !

[ursulaanna45]

Thank you
just to clarify that implies we go by new rules relating to Impairment of Financial instruments, the so called expected losses model?

I cant find anything online relating to this apart from date 2018 when the standard is effective with early adoption permitted, should I hope that if a question related to this subject comes up it would be clarified which standard to go by?

[ursulaanna45]

put that way it makes a lot more sense
Thank you !

[ursulaanna45]

Thank you
The article helped out to clear some other queries also
more reading and going through past papers should help as well as I only started preparing for P7

I was thinking that for example if an entity did not recognize a provision that is material, would that then be risk of misstatement at the financial statement level?

[ursulaanna45]

But if i record such transaction then would it not be material misstatement at level of assertion about classes of transaction then?

Thank you

[ursulaanna45]

So PEST would be mostly about reporting on external forces and less about showing how the business performs in relation to these?

I think I got unclear as P5 is about the performance of the business and suggesting metrics for this performance and here it seems the outlook is all about what’s out there externally to the organization , which is more like P3

Thank you

[ursulaanna45]

Thank you

[ursulaanna45]

I haven’t realized that lost contribution would have been included in after tax benefit to A of EUR 193,800

but your suggestion makes sense as lower sales means lower tax and so higher tax benefit for A

adding lost contribution would inflate both A’s sales and B’s costs of sales

Thank you for looking into it

[ursulaanna45]

That’s all clear

Thank you

[ursulaanna45]

ok
that makes sense now, would the same be with ROCE, capital employed is the figure from the start of the year?

and for both in general: ROCE and RI, return/profit would be usually before tax or should it be before interest and tax?

Thank you

[ursulaanna45]

great
thnk you

[ursulaanna45]

would you have any suggestions then on how that topic can be examined apart from asking about theory?

thank you

[ursulaanna45]

right…thank you
indeed there is a difference between using an “approach” and Kaplan Norton model,
I see the point

Thank you

[ursulaanna45]

That’s all clear
Thank you

[ursulaanna45]

That makes sense
Thank you

[ursulaanna45]

Thank you

I have better understanding of this method now and I hope I should be able to say something meaningful if the question about VBM comes up again

Just last question on it,

how does VBM relate to other models like Performance Prism, Pyramid, Balanced Scorecard, etc? I study from BPP book and VBM is in the same chapter as these models, so I assumed it all must come together somehow

[ursulaanna45]

So in practice, how would that ensuring future c/fs looked like?

for example, if Cantor decided that upskilling the staff was good for the business, under VBM, would they need to perform provisional NPV, taking into account extra costs for training to ensure that this really adds value, ie. returns positive NPV?

it seems recalculating valuation would go always first before calling anything “value driver”?

Thank you

[ursulaanna45]

Thank you for clarification
It makes more sense now

[Author]

Posts