ACCA P3 Business Analysis - the most popular models

I'm preparing for ACCA P3 exam. It seems Business Analysis is the best and most interesting subject in the ACCA qualification!!! The only problem is that there are a lot of models we need to remember)) I try to find the most popular models and focus on them while I'm studying P3.

Model # 1   PESTEL    Macro environment, strategic position analysis (evaluation)

Political  -  tax policy, labour law, environmental law, trade restrictions, tariffs, and political stability
Economic -  economic growth, interest rates, exchange rates and the inflation rate
Social -  health, population growth rate, age distribution, career attitudes and emphasis on safety
Technological -  R&D activity, automation, technology incentives and the rate of technological change
Environmental - weather, climate, and climate change
Legal -  discrimination law, consumer law, antitrust law, employment law, and health and safety law

Professional marks in ACCA P level exams

One of the features of the Professional level exam papers is the awarding of ‘professional marks’. These are marks allocated not for the content of an answer, but for the degree of professionalism with which certain parts of the answer are presented.

They will usually be awarded in Section A (the compulsory part of the exam paper) and will total between four and six marks.
 
 It may be, for example, that one requirement asks you to present your answer in the form of, say, a letter, a presentation, a memo, a report, briefing notes, or similar.

Some marks may be awarded for the form of the answer in addition to the content of the answer. This might be for the structure, content, style and layout, or the logical flow of arguments in your answer.

You should assume that if the question asks for a specific format of answer that some marks may be awarded for an effective presentation of that format.

My ACCA friends sometimes ask me about the specific formats of question answer. I would like to share these formats here.

When you failed your ACCA exam with 47-49 marks, then ask yourself whether or not you try to gain any professional marks. Maybe you can improve your performance next time)

REPORT

ACCA P3 Business Analysis - examiner's reports

There is no any individual feedback for ACCA students from an examiner about their exam work sheets. The ACCA offers to find an examiner's report about all students exam performance.

We can find these reports on www.accaglobal.com.
To download them click the link P3 examiners reports

I'm preparing for P3 in December 2013. Thus, I try to analyse the recent report of performance in June 2013.

The pass rate of P3 is about 50%. Therefore, this exam is slightly easier than F8. How to join to the group of successful candidates? I'm looking for the clues in the examiner's recommendations.

Question 1
Section A MidShire Health - 50 marks

Part a) i) 18 marks +2 prof.marks - Project management concerns
Performed well

ACCA F6 Taxation in the UK revision stage

Hello my ACCA friends,

our exams will start in one month and this is a time for revision for most of us)))
The key factor of exam success is practicing past exam papers. When I read the suggestions from other students, 90% of them believe that past papers help to pass an exam well.

I used the Malaysian teacher Low Chin Ann's video lectures about F8 Audit and assurance and passed it well. Today I watched his video lectures about ACCA F6 Taxation (UK) past papers. I think they can help you to prepare well for F6.

ACCA F6 Qs2 KimSee 2008

ACCA P2 Dec 2007 Q 4 International conceptual framework

The question 4 in ACCA P2 exam tends to be easier than 2 and 3 in section B. It is usually a current issues question. To be highly scored on this question, you need to plan your answer, use the headings and short paragraphs for every sensible point.

Question 4 December 2007

International conceptual framework

25 marks * 1,8 minutes = 45 minutes.
15 minutes to read&understand question requirements and plan the answer
25 minutes for write 25 reasonable points
5 minutes to revise the completness of your answer under plan

You can download the past exam papers www.accaglobal.com

Q4 The IASB has begun a joint project to revisit its conceptual framework for financial accounting and reporting. The goals of the existing frameworks and converge them into a common framework.

Required:
a) Discuss why there is a need to develop an agreed international conceptual framework and the extent to which an agreed international conceptual framework can be used to resolve practical accounting issues. (13 marks)

b) Discuss the key issues which will need to be addressed determining the basic components of an agreed international conceptual framework. (10 marks)

Appropriateness and quality of dicussion (2 marks)

Q4 (a) 13 marks

(1) Convergence

Tax havens: excellence or fragility for corporations

Tax havens: where they are?

There is no precise definition on tax havens. The OECD (Organisation of Economic Co-operation and Development) initially defined the folowing features of tax havens:

• no or low tax;

• lack of effective exchange of information;

• lack of transparency;

• no requirement of substantial activity.

European vector for Ukraine - The Diplomatic Insight

Hello to everyone,

today my first article about Ukraine, its history and European vector was published by the Pakistany magazine "The Diplomatic Insight".

Muhammad Asif Noor, the Chief Editor of the magazine, has decided to publish Special issue of The Diplomatic Insight on Ukraine. This issue was devoted to celebration of 22nd of Independence of Ukraine.

I highly appreciate this offer to write about Ukraine. Hope you like my article))

http://thediplomaticinsight.com/magazine/septmagazine/#/8

Follow the link above and you can find my article in the pages 9-10. I use Adobe Flash Player to read it.

For someone who could not read my article in The Diplomatic Insight I post this text below.

ACCA Advanced Diploma in Accounting and Business

Advanced diploma in accounting and business

If you decide to complete the ACCA Qualification, you will be awarded the Advanced Diploma in Accounting and Business on your way to completing ACCA Qualification.

What's involved?

You will need to register for the ACCA Qualification. When you have completed the Fundamentals level exams (F1-F9) and also the Professional Ethics module, you will be awarded the Advanced Diploma in Accounting and Business. You can progress to the Professional level to continue your ACCA Qualification.

How long will it take to complete?

It's up to you, but please note there is a 10-year time limit to complete the exams when gaining the ACCA Qualification. You can sit exams in June and December at one of 380 exam centres around the world. You can complete Foundations in Professionalism before or after the exams. So you could complete this Diploma in 12 to 18 months.

How can you get your certificate?

The 50 most common questions for job interview

One my friend usually tells me you need to go to a job interview to become more confident. Thus, you gain valuable experience of communications with HR specialists. It helps you to obtain the dream job in the future.

Some of the employers like to pose unusual interview job questions. They explain the reason for doing it that they need to select the creative workers to boost the company's development. Nevertheless, the most job interview questions are common and we need to be prepared well for them.

Forbes finds the 50 most common interview questions. It is a great list to practice and to prepare for your job interview.

1. What are your strengths?
2. What are your weaknesses?
3. Why are you interested in working for [insert company name here]?
4. Where do you see yourself in 5 years? 10 years?
5. Why do you want to leave your current company?
6. Why was there a gap in your employment between [insert date] and [insert date]?
7. What can you offer us that someone else can not?
8. What are three things your former manager would like you to improve on?
9. Are you willing to relocate?
10. Are you willing to travel?

ACCA procedure of claiming your Practical Experience Requirements (PER)

To become an ACCA member and to call yourself a qualified accountant you need to complete practical experience. You should prove that you are able to apply in the work place the knowledge which has learned in your exams. It helps to demonstrate your potential employer that you have practical skills, not only knowledge and ethical behaviour.

You can gain your PER before, during or after completing your exams. It would be great advantage if you complete your PER at the same time with your exams as it reinforces what you learn for the exams.

What is PER?

PER is a guidance for you which includes 36 months practical experience and 13 performance objectives (POs) requirements. POs are closely linked to the exams syllabus. It would be a benefit to coordinate your study and achieving POs to gain the most from both.

What is the relevant experience?

How to introduce yourself - ACCA's PO # 5 Communicate effectively

ACCA's performance objective #5 states that we need to communicate clearly in order to work effectively with others.

Every new communication with people starts with the introductory speech or writing the speech introducing yourself.

First impression makes a significant impact on how others perceive you. Be careful with the words introducing yourself. The information can either uphold or harm your credibility.

There are some suggestions I have collected about good introductory speech:

Your name

State your name clearly at the beginning. Name is important for many people. They will think about your name in their mind during your speech, if you do not start with that.

Say your first and last name with any titles you usually use.

Details about your current life

Tell people where you are at your life.

Five myths about ACCA's Performance Objectives

Many ACCA students focus on their exams progress. In the same time, the employers are keen on their knowledge gained from exams, ethical behaviour and practical experience.

Thus, do not forget about your Ethics module and PER. It makes your value as a professional higher and your chances to get an attractive job offer increase significantly.

ACCA analysed the students' contacts via ACCA Connect and found five myths about Practical Experience Requirements (PER).

Myth #1 "All I need to achieve a PO is to tick right box"

There are three challenge questions for any PO and no any prescribed right or wrong answer. You should describe your own situation (up to 500 words), then your experience gained (up to 500 words) and possible impact if you had not behaved ethically in this situation (up to 500 words).

Myth #2 "I don't need to prove experience - once, I've passed exams, I am ACCA member"

Exams are only part of the story. You need to apply the knowledge gained from exams in the workplace. Exams, ethics and experience are all needed for ACCA membership.

ACCA approved employers in Ukraine

• List of Ukrainian companies which offer unique career and development opportunities for their employees - members of ACCA:

• Ukraine International Airlines (Kiev.Ukraine)
• Wrigley Ukraine (Kiev.Ukraine)
• Bank Renaissance Capital (Kiev.Ukraine)
• Suntrade S.E. (Kiev.Ukraine)
• Interpipe (Kiev.Ukraine)
• Kyivstar GSM (Kiev.Ukraine)
• BDO, LLC (Dnepropetrovsk.Ukraine)

The summary of ACCA F8 Audit and Assurance

Quick look at ACCA F8 Audit and Assurance.

Assurance

Audit is the process, assurance is the product.

Agency theory: secondary agent (auditor) delivers the aussurance to principal (shareholders) that the report (FSs) provided by primary agent (director) shows T&F view.

Objective of EA is assurance, purpose of EA is delivery confidence of FSs to shareholders.
Reasonable assurance is a high degree of confidence, but NO guarantees!

5 elements of assurance engagement:

(1) 3 parties relationships:

• practitioner (auditor)
• responsible party (director)
• intended users (shareholders)

(2) subject matter
(3) criteria (standards)
(4) audit procedures to form opinion
(5) audit report

Positive assurance - high level, but not absolute, a lot of testings to form opinion, FSs show T&F view
Negative assurance - medium level, a smaller amount of testings to form opinion, we have no evidences that CF forecast does not provide T&F view.

Statutory audit is an audit of annual FSs.

Auditor & AC - matters to discuss:

• scope & timing of audit
• significant findings during audit
• independence issues
• modification of audit report (opinion)
• man-t representation requested
• fraud cases

Corporate governance (CG) - systems by wich the company directed and controlled.
Rules of CG:

• global - OCDE Code
• national - The US - SOX, The UK - The UK CG Code
• other - Stock Echange Rules

Underlying concepts of CG:
HAIR DRIFT

Related and correlated risks - ACCA P1 June 2013

To be honest, I missed this theme when I prepared for P1 June 2013. Reading the opentuition forum I discovered that the same question was in past paper P1 June 2011. Unfortunately, I didn't pratice all past papers. My knowledge of statistics helped me to find the right answer.

Related and correlated risks 

Question 1, part a), 10 marks (18 minutes)

Briefly explain ‘related’ and ‘correlated’ risks. Explore the correlation between legal risk and reputation risk for Hoppo if it were to cancel its contract with Red Co.


Related risks are the risk which vary because of the presence of another risk. They do not exist independently.

Correlated risks is a particular example of related risks.
Risks are positively correlated, if the one rises, then the another also rises and vice versa. That means they vary in the same direction.
Risks are negatively correlated, if the one rises, then the another falls and vice versa. That means they vary in opposite direction.

Successful ACCA exams strategy

How to write the answers to score high marks?
How to allocate sufficient time for all questions in a paper?
Why apparently well-prepared students performed badly in the actual exam?
Whenever a student marginally failed, they would insist that they did not understand why.

There are some good advices to prepare for successful passing ACCA exams:

1. Cover the complete syllabus

ACCA provides some amendments in their syllabuses every year. If you use the materials of your friends or colleagues from previous years, you should search for update materials to complete the syllabus.
There are some free materials !

2. Practice your handwriting in three hours sessions

The summary of ACCA P1 Governance, risk and ethics

Governance

Agency theory - directors act as agents of shareholders
Potential problem - strategy to benefit directors, not shareholders, different attitude to risk (not their investment), short-termism
Goal congruence - incentives to align interests (profit related pay and share option schemes)

Rules or principles-based approaches
Rules - SOX, legally enforced, section 404 ICFR penalises SMEs
Principles - UK Combined Code of CG, comply or explain, SMEs more leeway, not legally compulsory, market benefits or penalties for non-complier

CG concepts - HAIR DRIFT
Honesty- truth, not misleading
Accountability - directors accountable to shareholders, stakeholders
Independence - NEDs free from conflict of interests
Responsibility - directors responsible to stakeholders
Decision taking - improve wealth of an entity
Reputation - ability to comply with CG concepts
Integrity - honesty and balance, trustworthy
Fairness - take into account legitimate interests
Transparency - full disclosure of material matters

CG purposes -PIGCREW

Practice methods - governance provides practice methods to aid those who are managing a company
Investment - governance creates assurance and trust thereby attracting investment
Growth - governance creates conditions for growth of the economy
Control - it is set in place to control excessive behaviour in the organisation
Rules - it creates rules within which the organisation is operated
Employment - it creates employment as well as deals with several employment issues
Wealth - it supports a wealth-creating capitalist system

Chairman - role (Higgs report) - RAISE DIP
Run the board
Active engagement by board members
Induction programme
Sufficient time for complex decision
Effective communications with shareholders
Development needs for directors
Information provided accurately and timely
Performance evaluation

Useful Mnemonics for ACCA P1 Governance, ethics and risks

Preparing for exams, I have noticed that such enormous amount of new information is not able to be retained in my mind (!) How to improve the memory? The answer of this question is given by mnemonics. Many of teachers at Opentuition, BPP & LSBF use this technique in their lectures to improve the memorizing of their students.

I have collected some useful mnemonics for ACCA P1 Governance, ethics and risks. Hope it facilitates you to remember the relevant. :)

Ethical principles
PrOFIT

Probity
Openness
Fairness
Integrity
Transparency


Internal controls - categorisation
OPA SPAMS

Organisational Controls

• Control over the organisation structure including managers having specific responsibilities and delegations tasks.

Authorisation

• Controls to ensure that transactions do not proceed until an appropriate individual has given approval.

Physical

• Protection of assets against theft, unauthorised access or use.

Supervision

• Oversight of work of other individuals to ensure tasks are carried out correctly.

Personnel

• Controls in place to ensure the suitable people are employed.

Arithmetic Accounting

• Checking accounting transactions for accuracy, includes use of accounts and reconciliations (e.g. bank reconciliation).

Segregation/rotation

• Different people for each transaction to – Authorise, Record, Maintain physical custody of any assets (i.e. petty cash), pay for it.

Management Controls

• Control actions taken by management depending on the contents of reports received. Managers should be involved in the day to day supervision of staff.

Internal control - objectives

SCARE

Safegard Assets

Comply with Laws&Regulation

Accurate Financial Information

Reduce Fraud

Efficient Business

Corporate governance - concepts

HAIR DRIFT

Free past exam questions of ACCA F8 Audit and Assurance

Hello to everyone!

Preparing for an exam ACCA F8 Audit and Assurance (Int) I found the video with analysis and resolving past papers exam.

The lecturer Low Chin Ann - Kolej Bandar, Citypro (www.acca2u.com)  writes by hand the answers of questions in the answer sheets. This may be a very good example for students who are needed in time management in exam. This video helps to get the skill of fast navigation into the task and to present the answers clearly and precisely.

Low Chin Ann gives the recommendations about how many to write to gain more marks on exam.

Free video of ACCA F8 revision

ACCA F8 Audit and Assurance - free lecture of substantive procedures

Hello to everyone!

I am preparing for ACCA F8 Audit and Assurance (Int). Searching in Youtube I found an excellent lecture on Substantive procedures. As you know, Substantive procedures is one of the most popular themes of ACCA F8 exam.

The lecturer teaches ACCA F8 at CityPro Institute (Johor, Malaysia).
The theme of this video - Substantive procedures and Non-current assets.

The lecturer handwrites the answers in the worksheet in ACCA F8 exam style. It is a very good example of presentation to score high marks on exam.

After watching this video I am sure you can write easily substantive procedures for PPE (Property, Plant and Equipment). Just use COVE (Completness, Ownership, Valuation and Existence) plus Disclosure!

See free video Substantive procedures and Non-current assets

Free LSBF lectures of ACCA F8 Audit and Assurance with Martin Jones

Today I found some video lectures of ACCA F8 Audit and Assurance with Martin Jones, London School of Business and Finance. This lecturer tells us about such a boring subject as an audit in easy manner with humor :)

1. Introduction to the paper F8 part 1
2. Introduction to the paper F8 part 2
3. Past exams analysis 
4. Substantive tests

Статистика на образовательном проекте Coursera

Доброе утро, мир!

Сегодня статистика просмотров показала 500, и это прекрасно )))

Но речь пойдет сегодня о курсе статистики "Statistics: making sense a data", который был предложен University of Toronto на сайте Coursera. Курс ведут Alison Gibbs, PhD, senior lecturer и Jeffrey Rosenthal, PhD, professor, автор канадского бестселлера Struck by Lightning: The Curious World of Probabilities (Удар молнии: загадочный мир вероятностей).

Курс разделен на 8 недель, включает видеолекции, тесты в лекциях, 7 еженедельных тестов и 2 оценивания одногрупниками (peer assessment). Предложены учебники для самостоятельного изучения:

• OpenIntro Statistics, by David M. Diez, Christopher D. Barr, and Mine Cetinkaya-Rundel
• Online Statistics Education, by David M. Lane, David Scott, Mikki Hebi, Rudy Guerra, Dan Osherson, and Heidi Zimmer
• HyperStat Online, by David M. Lane
• StatPrimer, by B. Burt Gerstman

Useful mnemonics for ACCA F8 Audit and Assurance

Preparing for exams, I have noticed that there are an enormous amount of new information to memorize. My mind explodes. How to improve the memorizing? Mnemonics is an answer. Many of lecturers on Opentuition use this technique to improve the memorizing of their students.

Art of memory was very important in preliterate times when priests, shamans and the teller had to memorize vast amounts of information. The first texts about Mnemonics were written by the ancient Greeks. In the Renaissance, the knowledge was especially valued, so the ability to keep the knowledge in mind was the key to success. Giordano Bruno has published a book on mnemonics "The shadows of ideas." He was invited by the French King Henry IV, who tried to find out - how he had so much knowledge) And in our time interest in mnemonics is not waned.

I have collected some mnemonics to memorize the information of ACCA F8 Audit and Assurance and ACCA P1 Governance, ethics and risks.

Financial statements assertions
ACCA COVER

Accuracy
Completeness
Cut off
Allocation

Classification and understandibility
Occurence
Valuation
Existance
Rights and obligations

Sources of evidence
AEIOU

ACCA Professional Ethics Module (2017 Update)

Ethics is a crucial thing for a financial professional. Its importance is not less than the knowledge and skills ones. That's why ACCA requires the completion of online Ethics module for ACCA members and students who completed the fundamental level and wish to have an Advanced Diploma in Accounting and Business.

You go to the module via your page MyACCA. You choose Ethics & Professionalism and then go to Professional Ethics Module.

If you work on PC, then you click To begin working online, click here. The mobile version is also available.

After clicking you work throughout nine units. This screenshot of my page.

Решение задач по аудиту ACCA F8 Pilot paper Q5 EastVale

Пятое задание по аудиту "стоит" 20 марок и должно быть выполнено за 1,8*20 = 36 минут. Традиционно пятое задание - это сценарий, по которому необходимо применить теоретические знания к конкретным специфическим условиям сценария.

Question 5 
Fire in warehouse

(i) Describe the additional audit procedures you will carry out;
(4 marks, 4*1.8 minutes = 7 minutes, 1 mark for each procedure)

1. Discuss the matter with management whether EastVale has sufficient inventory to comply short-term orders of supermarkets.
2. Enquire the directors if EastVale can continue the trading in long-term period. Obtain the written representation to this effect.
3. Estimate the value of inventory destroyed in the fire.
4. Inspect insurance documents for likelihood of compensation being received to replace the damaged stock.
5. Inspect the rental agreement for warehouse for penalty that may be imposed in the case of damage to the warehouse. Consider the need for provision.

(ii) State, with reasons, whether or not the financial statements for the year-end require amendment;
(3 marks, 3*1.8=5 minutes, 1 mark for each reason)

Решение задач по аудиту ACCA F8 Pilot paper Q4 SouthLea

Четвертое задание по аудиту "стоит" 20 марок и должно быть выполнено за 1,8*20 = 36 минут. Традиционно четвертое задание - это сценарий, по которому необходимо применить теоретические знания к конкретным специфическим условиям сценария.

Question 4 part a)

(i) Identify, and explain weaknesses in SouthLea Co's system of internal control over the wages system that could lead to misstatements in the fiancial statements.
(ii) For each weakness, suggest an internal control to overcome the weakness.

(8 marks, 1,8*8 = 14 minutes, 1 mark for indentifying each weakness and explanation its consequence and 1 mark to suggestion of control. Maximum 2 marks for each area)

Weaknesses		Consequence		Recommended control
Workers clock in by entering their unique number on a key pad.		It’s not supervised, then workers may swap numbers and clock in employees who are absent. SouthLea will then pay employees who have not worked.		Clocking in and out should be supervised by the foreman.
The foreman can issue temporary numbers for new empoyees.		The foreman may be able to issue a number for a fictitious employee and have waged paid into his own account.		The foreman must obtain authorisation to issue a new number from HR director. The issue of a new number should be backed up with the new employee's contract.
Overtime is not authorised before adding to standard pay.		Employees may claim for overtime that they have not worked.		The foreman must uathorised the list of overtime payments before adding it to the net pay.
The staff in the wages department can set up employee records wthout authorisation		The records may be set up for fictious employees whose wages are paid by cash to the clerks.		Any amendments to employee records must be authorised by the HR director and backed up with the employee contract. The HR director should review a weekly print out of amendments to ensure they are all reasonable and authorised.
Employees are paid in cash.		Cash is easy to misappropriate. Employees may claim that they didn't receive their payments as they are not expected to sign for their wage envelopes.		It's better to make the payments by trasfer. If not, a list of cash payments should be kept and employees should sign to say they have received their envelope.

Решение задач по аудиту ACCA F8 Pilot paper Q3 NorthCee

Третье задание по аудиту "стоит" 20 марок и должно быть выполнено за 1,8*20 = 36 минут. Традиционно третье задание - это сценарий, по которому необходимо применить теоретические знания к конкретным специфическим условиям сценария.

Question 3 part a)

Identify, and explain the relevance of, any factors which may threaten the independence of Dark & Co's audit of NorthCee Co's financial statements for the year ending 31 December 2007. Briefly explain how each threat should be managed.
(10 marks, 1,8*10 = 18 minutes, 0.5 mark for identifying the risk, 1 mark for explanation risk and 1 mark to suggestion how to resolve. Maximum 2.5 marks for each area)

Threats for independence

- rotate of audit partner

Решение задач по аудиту ACCA F8 Pilot Paper Q2

Второе задание по аудиту "стоит" 10 марок и должно быть выполнено за 1,8*10 = 18 минут. Традиционно во втором задании необходимо показать теоретические знания.

Question 2 part a)

State SIX items that could be included in engagement letter. (3 marks, 1,8*3 = 5minutes, 0.5 mark per point)

- objective of an audit of financial statements
- management's responsibilities for the financial statements
- the scope of an audit with reference to appropriate legislation
- the auditor may not discover all material errors
- the form of a report of the results of engagement
- basic fee and billing arrangement

Question 2 part b)

State and briefly explain four types of audit evidence that can be obtained by auditor (4 marks, 1,8*4= 7 minutes, 0.5 mark for stating the type and 0.5 mark for explanation).

AEIOU

Решение задач по аудиту ACCA F8 Pilot Paper Q1 Westra

Я начинаю свою практическую подготовку с Pilot Paper.

Задание и ответы можно скачать здесь http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012b/pilotQA.pdf.

Мой разбор заданий и техника решения будет ниже.

Первое задание Westra представляет собой сценарий и "стоит" 30 марок. Это означает, что на его выполнение на экзамене отводится 54 минуты (30*1,8). Рекомендуется потратить время на чтение 15 минут на разбор первого задания, так как сценарий весьма объемный, а количество марок 30.

Часть а) требует перечислить аудиторские процедуры для подтверждения полноты (completeness), возникновения (occurence) и правильного временного периода (cut-off) для покупок и объяснить цель такой процедуры. Задание стоит 12 марок и должно занять не более 21 минуты на выполнение. 6 марок за процедуру и 6 марок за объяснение цели. Лучше использовать формат таблицы для ответа на это задание.
В технической статье от 01.11.2012 указаны требования к написанию аудиторских процедур. Каждая процедура должна включать в себя:
1. тестируемое утверждение (assertion)
2. аудиторскую процедуру
3. основание для процедуры

Выглядеть каждая аудиторская процедура должна вот так:

The auditor will agree a sample of items from the inventory sheets to the raw material inventory1 to ensure that the inventory recorded on the sheets actually exists2. 
This will confirm the assertion of existence of inventory as an asset in the financial statements3.
(1 = the audit procedure; 2 = the reason for the audit procedure; 3 = the assertion).

Question 1 Part a)

Substantive audit procedures for purchases

Реклама vs партнерские программы: что эффективнее?

Финансовый контролер всегда осведомлен о процессах в компании. Обсуждение рекламного бюджета - не исключение. Ведь необходимо будет прогнозировать результаты, а для этого следует анализировать эффективность разных видов рекламы.

Исходя из нашей статистики, для интернет провайдера самой эффективной рекламой для привлечения новых абонентов является распространение листовок в подъездах. Вторую позицию занимает реклама в метрополитене. Третье место занимает реклама в маршрутных автобусах. Но не только реклама способна привлечь новых абонентов.

Анализируя опросники, мы отметили, что 75% новых абонентов приходят к нам по рекомендации друзей. Поэтому была предложена и внедрена программа "Приведи друга". Наш абонент приводит нового пользователя и оба получают интернет на месяц бесплатно. Так наши абоненты становятся партнерами бизнеса, помогая увеличивать абонентскую базу. Мы получаем новых клиентов и удерживаем старых (!)

Экспорт услуг

Технический директор сообщил о переговорах, которые велись с компанией из Армении. Они хотели получить в аренду линии связи и интернет услуги. Регистрировать представительство в Украине армянская компания не планировала. Таким образом, одна из компаний телеком холдинга впервые столкнулась с вопросом об обслуживании нерезидента. Какие нюансы это влечет за собой?

Чем подтвердить статус резидента Армении?

Согласно п. 103.5 Налогового кодекса Украины статус резидента Армении необходимо подтвердить справкой компетентного органа Армении. Поскольку Украина заключила с Арменией международный договор, то легализация и удостоверение апостилем не требуется.

Валютный контроль

Ошибочный платеж

Не ошибается только тот, кто ничего не делает. 

Мне очень "везло" на ошибочные платежи в Одессе. Там было одно отделение сбербанка, которое частенько ошибочно оплачивало на счет моей интернет-компании за услуги массажа или коммунальные услуги. Разбирая утром выписку ОТП банка, наш бухгалтер улыбалась и говорила, что не против сделать массаж за такие-то деньги, чтобы не делать возврат :) В итоге я обзавелась телефоном того отделения, чтобы созваниваться с ними и договариваться о письмах на возврат ошибочно перечисленной суммы и сроках возврата.

Что иногда скрывается за ошибочным платежом?

Однако, не всегда перечисление сумм и их возврат через некоторое время возникает по ошибке. Иногда в холдинге одно из предприятий может испытывать временный денежный голод. И тогда на помощь к нему может придти другое предприятия и занять ему денег на короткий срок (обычно до конца месяца). Тем самым предприятие получает беспроцентный краткосрочный кредит и обращаться за овердрафтом в банк не требуется. С точки зрения привлечения краткосрочного финансирования все очень красиво. А как с позиции налогообложения?

Юридическая сторона вопроса

В юридических терминах, когда оплата зачислена без законных оснований, лицо, получившее такой платеж, признается ненадлежащим получателем (Закон Украины о платежных системах). 
Ошибочное зачисление может быть по вине банка (как в моем Одесском примере). Тогда банк информирует ненадлежащего получателя о необходимости вернуть ненадлежащий платеж в течение 3-х рабочих дней согласно пп. 32.3.1 Закона о платежных системах.
Если ошибся плательщик, то деньги ему нужно вернуть в 5-дневный срок согласно п. 6 Указа Президента о платежной дисциплине.

Как доказать, что это не доход?

Финансовый контролер: штрихи к профессии

Финансовый контролер обычно фокусируется на руководстве бухгалтерией. Чтобы возглавить бухгалтерскую функцию на предприятии, ему / ей необходимо иметь солидный опыт в бухгалтерском учете, налогообложении, финансах и контроле. Однако, сейчас бизнес вовлечен в жесткую конкурентную борьбу, которая требует быстрых и качественных реакций на запросы рынка.
Поэтому финансовый контролер больше не может фокусироваться только на управлении бухгалтерской службой. Ему/ей нужно развивать в себе новые навыки и способности. Чтобы быть успешным в этих новых условиях, нужно следовать следующим направлениям:

• понимание работы других подразделений. Одного лишь знания бухгалтерского учета и финансов уже не достаточно. Так как финансовый контролер имеет дело с операциями, которые инициируют другие подразделения, ему/ей необходимо понимать те цели, задачи и вызовы, которые стоят перед персоналом этих подразделений. К примеру, нужно понимать цели рекламной компании, предпринимаемой отделами маркетинга и продаж, необходимости внеурочной работы в производственных цехах и т.п. Такое понимание поможет компании быстро двигаться в направлении поставленной цели, когда вся команда четко понимает тактические шаги и стратегию. 
• поддержание взаимоотношений внутри компании.

Аудит: подготовка к экзамену

Тяжело в учебе - легко в бою!

Не смогла сдать аудит в прошлую декабрьскую сессию. Снова буду штурмовать экзамен по аудиту F8 Audit and assurance (Int) в июне 2013.

Статистика по сдаче экзамена неутешительная, около 30 % студентов сдают этот экзамен.

PASS RATES FOR PAPER F8

Flag counter как установить на blogspot

Доброго времени суток)))

Flag counter - это бесплатный сервис, который предназначен для подсчета уникальных посетителей из разных стран в виде блока с флагами стран и количеством визитеров.

Сегодня установила этот сервис на blogspot. Возможность подсмотрела у украинской писательницы http://hudozhnytsya.livejournal.com.
Установка этого гаджета очень простая. На странице http://flagcounter.com/  выбираете необходимые Вам настройки.

О пользе электронных библиотек (digital library)

Я уже давно учусь по программе АССА (The Association of Chartered Certified Accountants). Время от времени мне нужно решать вопрос с учебной литературой по выбранным предметам (paper).
В начале своего обучения я покупала учебники Kaplan Publishing. Каждый предмет (paper) представлен здесь 3 категориями учебных материалов:
1. основной учебник - Complete Text - теория и вопросы с решениями по ACCA syllabus;
2. "решебник" - Exam Kit - задания и их решения по прошлым экзаменам;
3. резюме курса - Poket Notes - краткое изложение теории (графики, диаграммы, таблицы и пр.), облегчающее повторение при подготовке к сдаче.
Стоимость этого набора = учебник 35 фунтов + решебник 20 фунтов + резюме 12 фунтов = 67 фунтов (около 102 доллара США).
Доставка обошлась мне в 33 фунта (около 50 долларов США). Срок доставки - 10 дней. Курьер от DHL привез мне учебники, предварительно согласовав по телефону место и время в день доставки. Растамаживать книги мне не пришлось, так как там не было CD. Просто я сообщила некоторые персональные данные менеджеру DHL по телефону. Вобщем, сервис у DHL очень удобный.

Договор дистрибуции

Сегодня я рада начать что-то новое - перевожу договор дистрибуции с английского на украинский. Договор заключается между американской компанией из города Монтроуз, штат Калифорния, и украинской компанией из города Донецка.

Общие положения
Договора дистрибуции не относятся к договорам, поименованным в Гражданском Кодексе Украины (ГКУ). Они могут заключаться в силу принципа свободы договора согласно ст.3 ГКУ.
При заключении договоров дистрибуции нужно также руководствоваться законодательством о защите конкуренции, качестве товаров, защите прав потребителей, рекламе и защите интеллектуальной собственности.
В международных договорах необходимо руководствоваться Законом о международном частном праве. Также нужно иметь ввиду Инкотермс 2000 для определения терминов поставки, опубликованных Международной торговой палатой.