[zkaay]

thanks alot sir the explanations were v helpful and clear

[zkaay]

thanks sir

another q is

while answering a q , for example 5s lean principle is it a MUST that we write the term name first then explain it?

bcoz i am able to explain few points here like the system should be tidy, easy to access, easy order to find items ..

but not able to link it to systemise, structerize , sanitise,…. as its v confusing?

hope my question is clear sir

[zkaay]

thanks for clarifying this sir!! this was so helpful thanks again!

[zkaay]

Whats is the changes on calculation if started with net PAT or PBIT plz?

Thanks

[zkaay]

hi sir

thanks for replying

I took a general look into both bpp/kaplan SBR kits

both use the old consolidation format for preparing the full f/s

there are no explanations of working

so i am struggling to prepare for the first question , any suggestions? thanks

[zkaay]

@gjohnstone00 said:
Found this a bit of a joke as only gave you one paper to work with. The Kaplan revision text was a waste of time as was still focusing on full concolodation with little narrative. I found question one quite journal entry correction heavy and Kaplan certainly didn’t prepare me for this.

I found the same About kaplan kit!!!
The kit almost same as previous exam pattern not the new!!

What to do plz help ?

[zkaay]

2) for interest component

Should we multiply the high quality bond % to only opening balance ?

I saw in an example in bpp kit
its multiplied to (opening balance – past service cost + contribution )

Plz clarify this also

[zkaay]

Hi sir,

I am searching for what u r reffering to but unfortunately

I think i missed i cant find it

Hope u help

Thanks

[zkaay]

Thanks for replying sir, sorry my misunderstanding still not clear

“various components of each warehouse have not been treated as separate components and depreciated over a specific useful life”

How did we arrive to this conclusion (not been treated as sep components) within the context ?

[zkaay]

Hi sir,

What i mean us that hust a brief example/explain

On how increase in both( revaluation surplus/capital expenditure)

Will lead to def tax

Thanks v much

[zkaay]

Regarding same q

“The bank loan expires on 5 January 2018. The finance director expects to take out a matching facility with the current lender to pay off the existing debt”

Could u Explain this matter /implications

[zkaay]

So he will leave the audit firm and join the audit client

Or

He will handla both in same time?

[zkaay]

Thanks v much for this great, well explainations

Ive looked into the notes regarding discountined operations

However am not totally clear
1) Could u explain it more?

2) is it always the accounting treatement for discountinued operations is to be disclosed only?

3) disposal of whole sub 100% is this a disposal group and discounted operations ?

Thanks v much

[zkaay]

Its clear for me In the event its successful ( this possible not probable outflow)

So i will go for a disclosure as contingent liab

Correct me if am wrong

[zkaay]

1) Is it a must that they sell their invest at end of contract period (4-7years)

2) must they sell to (only) the original company they financed it or it can sell to any outside shareholders?

[zkaay]

Thanks for mentioning the related questions i will have a look on them.

[zkaay]

Hi sir,

Whever the q is asking about matters/implications of matters described.

Should we discuss the below points?

Materiality
Accounting treatement
Risk of mm
Evidence

[zkaay]

Hi sir

I checked the part mentioned in rulebook

Its talking about the matter in general and not listing examples/senario

Could u plz list examples/senarios (other than having fin interest in comp)

Thanks v much

[zkaay]

Sorry sir i didnt get ur answer clearly

Do u mean threat is when same audit firm preparing and then auditing the client even if w siff audit teams members?

Thanks v much

[zkaay]

So i can say that partners cant be seconded but the managers can be

True?

[zkaay]

1) Could u plz explain the reason in more details. I am not sure about it

2) Regarding directors
I think any transaction related to the directors is material by nature because they are in a position which can easily influence the financial statement.

3) Regarding omission of discloure of eps what is the reason?

[zkaay]

What other points can we say here

Other than self review and

Assume management responsibility

Thanks

[zkaay]

Hi sir

I didnt get the point for my question (2)

I appreciate providing clear Explaination

Thanks

[zkaay]

1) You are a (manager) in the audit department of Kennel & Co, responsible for conducting engagement quality control reviews on listed audit clients.

Thats what the intoduction says?

2) in p7 its always the case that the manager carry out the procedures so monitoring/review role not Reconciling and calculating

Plz clarify my misunderstanding

Thanks

[zkaay]

Thanks v. V much for this explanation sir it really helped.

One point here:
How did we conclude that mgt of client comp are actually was not aware of these deficinies and not concealing them by not telling us before, so we issue a clean report few weeks ago.

[Author]

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