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.