[uzzy0121]

Yes I would trust them if they knew what they were doing. I have been working for 10 years, and just recently became a member. Now I am expected to do another 2 years post qualifying – but I work in industry, not practice, so it will be very difficult to get the practicing licence experience signed off anyway.

Apparently its easier to get a practising licence from AAT or ICAEW. This may be the route I have to go down which is a shame because I worked so hard for my ACCA exams and to get the experience signed off. But now I have to look toa nother governing body for a practising licence.

[uzzy0121]

I am an ACCA Member. However, I now understand I need to have a practicing licence to provide accounting services to friends and family, even if unregulated.

Am I still able to do this without a practising certificate?

It’s frustrating because from what I know, if I wasn’t qualified, I could open up a firm without a licence. But because I’m an ACCA member I have extra restrictions in doing so.

[uzzy0121]

Can you specify which page (from OT notes) or lecture this is mentioned? Thank you

[uzzy0121]

Hi,

I have another example of a Revenue question where the progress completed isn’t calculated against Revenue.

please refer to example 381 (Pricewell) from the Kaplan study text. In the Revenue figure on the SPL it includes it without the stage of completion.

Please could you advise because as per your example we would always use the stage of completion for revenue but this isn’t used in this example.

Thanks.

[uzzy0121]

Me too, are you based in UK?

[uzzy0121]

Thanks that makes sense, I guess it doesn’t really matter in this question whether you do it or not because it doesn’t change the profit figure.

Thanks for your help!

[uzzy0121]

Do you have access to the Kaplan exam kit? If so, please refer to question 104.

In this example the progress % is applied only to profits and not to the revenue.

If the question asked for Revenue would you use the figure of 1.8m (0.36 x 5) and then have costs of sales to 0.8m to bring the profit back to 1? I’m assuming the % is not calculated on Revenue because its not asked in the question? But if it did ask, would you do what I just mentioned? Please let me know if I’ve understood correctly?

If you don’t have access to this please let me know so I can type the question up in more detail. Thanks.

[uzzy0121]

I had the same issue, especially with the Beech Co it was so confusing. And there wasn’t much to interpret for ratios because there wasn’t sufficient info. Hopefully i answered it right.

[uzzy0121]

Yes i would also like to study this

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