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Learning Unboxed

Accounting, Budgeting and Controls for Non-Finance Professionals

accounting
 
Accounting and Finance knowledge is necessary for any business. As a business owner or a manager, it’s important to recognize that the best practices as it is essential for success in any size of the business; familiarity with transactions and savvy record-keeping are keys to monitoring the company’s expenses and discovering new avenues of growth.
 
This November, FTMSGlobal Academy delivers two Exclusive Workshops that will provide non-finance trained professionals with an understanding of basics of Accounting and Finance + Budgeting and Controls fundamentals. Having a better understanding of underlying financial and accounting data, concepts and terminology allow for more confident and informed business decisions.
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ACCA-X scoops its 6th Award at The Association Excellence Awards at a ceremony in London

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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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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).

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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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Charity Work at Methodist Children’s Home

Charity Work at Methodist Children’s Home

On the 20th of December, students and staff of FTMSGlobal Academy committed their valuable time for charity work and visited the Chen Su Lan Methodist Children’s Home and arranged a chicken rice lunch for the kids from the famous Pow Sing Chicken Rice Stall.

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Artery Club Excursion

Artery Club Excursion

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Students examined the different techniques and modern technologies applied to the production of fine wines and spirits,

 and also understand the impact of market positioning and branding on the success of these al

coholic beverages. This excursion also provided insights on the trends, service rituals and the advent of luxury beverage brands. Operations included cocktails and mocktails mixology , different kinds of liquor and liqueur, bar layout and customer service.

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A Warm Welcome to Cheongyang College from Korea

New! Student Exchange Program with Cheongyang College from Korea

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On the 14th of December, FTMSGlobal Academy Singapore and Cheongyang College from Korea held a Memorandum of Understanding (MOU) signing ceremony for the student exchange program between the two colleges. Cheongyang College will be sending their students to study at FTMSGlobal Academy.

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Think you have a STRESSFUL JOB?

Think you have a STRESSFUL JOB?

Is yours among the top 10 compiled by Careercast.com

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10. Police Officer

9. Taxi Driver

8. Newspaper Reporter

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FTMSGlobal Academy E-Newsletter for February 2013

Scoring His Next Goal With FTMSGlobal

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Muhaimin Suhaimi
Diploma in Business Management FTMSGlobal Scholarship Award RecipientPeter Lim Scholarship Holder 2012 FinalistTNP School Sports Star Award Sportsboy Team of the Year 2011 Best Performer AwardSPS 2010

Muhaimin Suhaimin (left) is the latest recipient of the prestigious FTMSGlobal Scholarship Award, given to outstanding applicants who have demonstrated excellence in both sports and academic achievements.

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[Student Testimonial] Frederick Wong, Higher Diploma in Computer Science Student

b2ap3_thumbnail_frederick-bench.jpgA resident of Taman Perling in Johor Bahru, Malaysia, Frederick spent a significant portion of his life shuttling between his home in Johor Bahru and Singapore for school. Having gone through Primary and Secondary Schools as well as Junior College, he decided to pursue his passion for programming by joining FTMSGlobal Academy to study Computer Science. He is currently in his Higher Diploma year.

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[Student Testimonial] Zoljargal Sukhbat, ACCA Student

b2ap3_thumbnail_zoljargal21.jpgZoljargal, a curious and intelligent young lady from Ulanbaataar, Mongolia has been in Singapore for about 19 months already. An ACCA student in her final year, she aspires to work in the finance industry back home in Mongolia after graduation.

If she’s walking down the street one day and comes across a weird contraption with dials and knobs all over and discovers that it’s a functioning time-machine with enough battery for only one round trip she’d go back to Ulanbaataar in 1985.

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[Student Testimonial] Aayush Pandya, Higher Diploma in Computer Science Student

Aayush Pandya is a man who has lived in 3 countries and still has a thirst for exploring new cultures. Currently a student in FTMSGlobal’s Computer Science course, he intends to stamp his mark as a programmer.

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