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Learning Unboxed

FTMSGlobal Blogs

Announcements, exam tips and instructions from our Dedicated Lecturers

ACCA-X scoops its 6th Award at The Association Excellence Awards at a ceremony in London

congratulations

ACCA-X: the ACCA’s (the Association of Chartered Certified Accountants) innovative online learning platform has won in the "Best Training Initiative" category held in London on 31 March 2017, making a name for itself as the go-to digital learning programme for those seeking to enhance their financial literacy skills

"We are delighted with this very prestigious award for ACCA-X. We are confident that time will demonstrate just how much ACCA-X has been needed by learners around the world." commended by Reza Ali, director of new ventures, ACCA.

ACCA-X is supported by online tutors who guide students through exciting and interactive content. ACCA-X has over 175,000 registered users from 232 countries and territories.

For more details, please visit these links:
http://www.accaglobal.com/my/en/news/2017/april/assocation-award.html?from=XX
http://www.acca-x.com/global/en/blog/story-so-far.html

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* CTO / photo credits from ACCA-X *

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ACCA-X online wins Study Resource of the Year @ PQ Awards 2017

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Good News everyone!

ACCA-X, FTMSGlobal's partner in delivering innovative online learning platform with blended learning programme to students wins Study Resource of the Year at PQ Awards! 

What a way to kick off the year! Congratulations!

Check out these news links and share:

http://www.pqaccountant.com/best-of-the-pq-awards-2017.html

http://www.accaglobal.com/my/en/news/2017/february/pqawards-accax.html

https://twitter.com/acca_x/status/834773644828168193/photo/1

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* CTO photo credits from ACCA-X *

 

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ACCA P7 - Hot Topics for March 2017 Exams (by Mr CK Fung, FTMSGlobal Subject Specialist)

P7 MARCH 2017

THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT YOUR OWN RISKS!

(compiled by Mr Fung Chee Kong, FTMSGlobal Subject Specialist)

Likely to have a question on identifying business risks. (see Dec 2014 Q1a, Dec 2012 Q1a, Dec 2010 Q1a, June 2009 Q1a) Must learn to link business risks to FS risks of MM (see June 2008 Q1, June 2014 Q4a theory) Dec 2014 Q1b).

Be prepared for risk of material misstatements (previously known as FS risks). Practice Dec 2008 Q1a, Dec 2009 Q1c, Dec 2010 Q1b, June 2011 Q1ai and June 2012 Q1aii, June 2013 Q1a, June 2014 Q1a. For identifying risk of MM, see Dec 2012 Q1b, Dec 2010 Q1a, June 2009 Q1a. See also Dec 2008 Q1a and Dec 2009 Q1c.

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ACCA F8 - Hot Topics for March 2017 Exams (by Mr CK Fung, FTMSGlobal Subject Specialist)

F8 MARCH 2017

Professional ethics – May have a question on identifying ethical threats and safeguards/responses. (See June 2006 Q4, June 2007 Q1a, Pilot Q3, Dec 2008 Q3a, June 2010 Q4, June 2011 Q4c, June 2012 Q3b, Dec 2013 Q4c, New Pilot Q1a, June 2015 Q1, Dec 2015 Q1).

If the above ethics case study is not here, take note of confidentiality and what are the exceptions to this principle. (See Dec 2011 Q4c) Plus conflict of interests (June 2011 Q4a, June 2014 Q3c).

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Tips for March 2017 ACCA F7 Exam by Tom Clendon

F7 MARCH 2017

To pass F7 you must practice under time pressure the MCQs as these form the back bone of the exam. As such the paper is very difficult to tip. However recent exams show that ratios are regularly examined and the examiner's reports are that this is an area that candidates can improve. A good working knowledge of the accounting standard are required. Please use up to date materials.

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Tips for March 2017 ACCA P2 Exam by Tom Clendon

P2 MARCH 2017

Q1 should either be the examiner's favourite a group statement of financial position, and if so expect control to control transactions. Alternatively it could be group cash flow (the statement of comprehensive income came up last time so do not get caught out by putting all your eggs in the group statement of financial position). Each paragraph in the p2 exam group statement of financial position questions should be capable of being addressed in isolation. Always clearly reference your workings. Read the examiners reports. Ethics of course will always be there so please have a go and by that I mean apply the ethical principles not just write them out cold. See my article.

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ACCA P7 - Hot topics for the coming December 2016 exam

P7 DEC 2016

ACCA P7 - Hot topics for the coming December 2016 exam

THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT
YOUR OWN RISKS! (Compiled by Fung Chee Kong (CK), FTMSGlobal in Singapore)

Likely to have a question on identifying business risks. (see Dec 2014 Q1a, Dec 2012 Q1a, Dec 2010 Q1a, June 2009 Q1a) Must learn to link business risks to FS risks of MM (see June 2008 Q1, June 2014 Q4a theory) Dec 2014 Q1b). Since we are learning risk of MM, the points here can also be used as audit risk points.

Be prepared for risk of material misstatements (previously known as FS risks). Practice Dec 2008 Q1a, Dec 2009 Q1c, Dec 2010 Q1b, June 2011 Q1ai and June 2012 Q1aii, June 2013 Q1a, June 2014 Q1a. For identifying risk of MM, see Dec 2012 Q1b, Dec 2010 Q1a, June 2009 Q1a. See also Dec 2008 Q1a and Dec 2009 Q1c.

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F8 - Hot Topics for December 2016 exams

F8 DEC 2016

F8 - Hot Topics for December 2016 exams

THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT
YOUR OWN RISKS! (Compiled by Fung Chee Kong (CK), FTMSGlobal in Singapore)

Professional ethics – May have a question on identifying ethical threats and safeguards/responses. (See June 2006 Q4, June 2007 Q1a, Pilot Q3, Dec 2008 Q3a, June 2010 Q4, June 2011 Q4c, June 2012 Q3b, Dec 2013 Q4c, New Pilot Q1a, June 2015 Q1, Dec
2015 Q1).

If the above ethics case study is not here, take note of confidentiality and what are the exceptions to this principle. (See Dec 2011 Q4c) Plus conflict of interests (June 2011 Q4a, June 2014 Q3c).

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ACCA P2 - Hot topics for the coming December 2016 exam

P2 DEC 2016

ACCA P2 - Hot topics for the coming December 2016 exam

THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT
YOUR OWN RISKS! (Compiled by Thomas Henry John Clendon (Tom), FTMSGlobal in Singapore)

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The Risk Conversation at Board Level

RISK

By Professor Andrew Chambers

Andrew Chambers is Academic Director of FTMSGlobal. He chairs FEE’s Corporate Governance and Company Law Working Party. FEE (www.fee.be) is Fédération des Experts-comptables Européens – (Federation of European Accountants). Professionally qualified accountants frequently chair and are members of audit committees of boards and attend audit committee meetings in their capacities as external auditors, chief financial officers, internal auditors, compliance officers and risk managers. The views below are those of Professor Chambers based on his remarks at an ecoDa/FERMA/AIG conference in Brussels.


Abstract:
Risk management is about systematically identifying events and situations that may threaten the entity and positioning the entity to be able to exploit potential opportunities that may arise in the future.

Much has been written on approaches to risk management but much less on how the oversight of risk should be dealt with at the level of the board of directors. A common failure is that the board accepts management’s assessment of risks with too little robust challenge. Another is that oversight of risk is handled almost exclusively at board committee level without in-depth discussion and challenge by the board itself. Handling the interface between the board risk and audit committees is another issue.

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ACCA F8 - Hot Topics For September 2016 Exam by CK Fung

ACCA F8 SEPT 2016 EXAM TIPS

(Compiled by Mr Fung Chee Kong (CK), Subject Specialist Lecturer at FTMSGlobal in Singapore)

Professional ethics – May have a question on identifying ethical threats and safeguards/responses. (See June 2006 Q4, June 2007 Q1a, Pilot Q3, Dec 2008 Q3a, June 2010 Q4, June 2011 Q4c, June 2012 Q3b, Dec 2013 Q4c, New Pilot Q1a, June 2015 Q1, Dec 2015 Q1).

If the above ethics case study is not here, take note of confidentiality and what are the exceptions to this principle. (See Dec 2011 Q4c) Plus conflict of interests (June 2011 Q4a, June 2014 Q3c).

Continue reading
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ACCA P7 - Hot Topics For September 2016 Exam by CK Fung

ACCA P7 SEPT 2016 EXAM TIPS

 THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT YOUR OWN RISKS!

(Compiled by Mr Fung Chee Kong (CK), Subject Specialist Lecturer at FTMSGlobal in Singapore)

Likely to have a question on identifying business risks. (see Dec 2014 Q1a, Dec 2012 Q1a, Dec 2010 Q1a, June 2009 Q1a) Must learn to link business risks to FS risks of MM (see June 2008 Q1, June 2014 Q4a theory) Dec 2014 Q1b). Since we are learning risk of MM, the points here can also be used as audit risk points.

Be prepared for risk of material misstatements (previously known as FS risks). Practice Dec 2008 Q1a, Dec 2009 Q1c, Dec 2010 Q1b, June 2011 Q1ai and June 2012 Q1aii, June 2013 Q1a, June 2014 Q1a. For identifying risk of MM, see Dec 2012 Q1b, Dec 2010 Q1a, June 2009 Q1a. See also Dec 2008 Q1a and Dec 2009 Q1c.

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ACCA F6 Tips for Sept 2016 Exams by Gabriel Chua

ACCAF6 SEPT 2016 EXAM TIPS

 Tips for Section A MCQ

MCQ are tested widely and specifically. Therefore do not skip any material of the F6 syllabus. Questions set in this section are very tricky therefore do not select an answer almost immediately. To score well in this section, you need to be familiar with the nitty-gritty of the tax laws. For example, the specific conditions that must be met for certain type of deductions to be taken.

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ACCA P2 Tips for Sept 2016 Exams by Tom Clendon

ACCA P2 SEPT 2016 EXAM TIPS

 In terms of the P2 September 2016 exam and the tips. After June's tips being spot on I have had to think of some more! Well this time I cannot see Q1 being a cash flow again and would have to favour group statement of financial position to be more likely over the profit or loss. Control to control issues. Maybe foreign currency. You must clearly show your workings. You just must. Errors are made. Markers are looking at your method. Certainly there will be an ethical issue, and this is an area where too many candidates drop marks. Please please prepare for the ethical question. See my article on ACCA web site.

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F5 Hot Tips for June 2016 Exams

ACCA F5 JUNE 2016 EXAM TIPS

The following should be the main focus areas for the 5 questions in Section B:

1) Costing
- Activity Based costing
- Theory of Constraints

2) Decision making
- Linear programming
- Break-even Analysis
- Relevant costing
- Decision Rules

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ACCA P7: Hot Topics for the Coming June 2016 Exam

ACCA P7 JUNE 2016 EXAM TIPS

THESE ARE JUST GUESSES. USUAL HEALTH WARNING APPLIES – USE AT YOUR OWN RISKS! 

Likely to have a question on identifying business risks. (see Dec 2014 Q1a, Dec 2012 Q1a, Dec 2010 Q1a, June 2009 Q1a) Must learn to link business risks to FS risks of MM (see June 2008 Q1, June 2014 Q4a theory) Dec 2014 Q1b). Since we are learning risk of MM, the points here can also be used as audit risk points.

Continue reading
1847 Hits
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ACCA F8: Hot Topics for June 2016 Exams

ACCA F8 JUNE 2016 EXAM TIPS

Professional ethics – May have a question on identifying ethical threats and safeguards / responses. (See June 2006 Q4, June 2007 Q1a, Pilot Q3, Dec 2008 Q3a, June 2010 Q4, June 2011 Q4c, June 2012 Q3b, Dec 2013 Q4c, New Pilot Q1a, June 2015 Q1, Dec 2015 Q1).

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ACCA P2 JUNE 2016 EXAM TIPS

ACCA P2 JUNE 2016 EXAM TIPS

ACCA P2 Exam Tips for June 2016 

Q1 should either be a group cash flow which is now overdue, or the examiner's favourite a group statement of financial position, and if the later expect control to control transactions. Each paragraph in the p2 exam group statement of financial position questions should be capable of being addressed in isolation. Always clearly reference your workings. Ethics of course will always be there so please have a go and by that I mean apply the ethical principles not just write them out cold.

Continue reading
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Exclusively for FTMSGlobal MBA students & FTMS Faculty

Exclusively for FTMSGlobal MBA students & FTMS Faculty

Each time our Weekend MBA students are with us, we stage one of these events after classes on Fridays. Our full time day MBA students join in, as well as our faculty members.

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ACCA P1 & P3 Questions

ACCA P1 & P3 Questions

Will the ACCA re-use and recycle old P1 and P3 questions?


In the past the ACCA used to publish all the exam questions for every paper but this is not longer the case, December 2015 and September 2015 exam papers were not published in full. In December the ACCA issued a hybrid exam which included two questions for December and two questions for September. This raises the question why are they doing this?

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