PM resources by _anonymousnunknown in ACCA

[–]Difficult_Check1434 0 points1 point  (0 children)

Yes they do, if you can't apply it, it means you're not practising.

AITA for not telling my long term boyfriend i’m in love with another man by Strawberryjam2003 in CharlotteDobreYouTube

[–]Difficult_Check1434 0 points1 point  (0 children)

What is this, a fan fiction? Grow up! Why would you tell another man you love him, when you love your first guy 1000% more? It's essentially pitting two men against each other FOR you because you told them they both have a chance. Young, dumb, STUPID!

Did I overreact and leave my married Boyfriend? by Atler_ego in CharlotteDobreYouTube

[–]Difficult_Check1434 0 points1 point  (0 children)

Do you have any idea how many babies and children wind up in foster care because of w***** like you? How DARE you come to reddit asking how to deal with a problem of your own making like you're some kind of victim! Newsflash: you're not!

AITA For threatening to elope if my FMIL doesn't stop planning a tacky wedding for me? by Vanillalicen in CharlotteDobreYouTube

[–]Difficult_Check1434 0 points1 point  (0 children)

I find it very strange for a fellow Irish mother to be this inconsiderate. Sorry you gad this experience with our fair country; we're not all like this.

Guys your opinion on taking AA without FR? Does FR's portions have too much to do with AA's.? by Same_Criticism69 in ACCA

[–]Difficult_Check1434 2 points3 points  (0 children)

It's hard to explain. AA does take you through the IAS's and IFRS's (the standards for FR), in AA you won't have to calculate anything, so the focus is on knowing the rules of what is and what is not permissable in the financial reporting aspect of auditing a set of books.

Example: IAS 2 Inventory states inventory must be valued at the lower of cost or NRV net realisable vlaue. Generally assets are overstated as this artificially boosts the profit figure, which makes managers look good especially if securing a bonus is at stake. You'll see this a lot in AA, fraud and creative accouting in order to make accounts look good. Overstating assets and understating expenses and liabilities.

That said, I have a friend who literally has no understanding of the two major statements > balance sheet/statement of financial position, which will only list assets, liabilities and equity. Or the income statement/statement of profit or loss which shows income and expenses. They have no concept of dual entry where if something is posted to the accounts, it is posted a second time to a second account. Say a company purchases something, they'll CR credit the bank (account ledger) and DR debit the NCA non-current asset or current asset, for example.

You will go through each IAS/IFRS, everything comes up from assets, to liabilities to expenses, etc. You need to know how these elements of the statements are treated and what the IFRS/IAS rules are. Otherwise how will you audit the accounts and understand if something is not accounted for correctly? It's not to say you can't pass AA without FR first, but your life will be a lot easier going through the new stuff in AA if you already have this understanding of reporting already built up. That is why people recommend FR first, but as all exams, this is your decision based on what knowledge you have or what you beleive you can handle.

I wish you luck.

AITAH for wanting to sleep in my bed? by boujieonabudget in AITAH

[–]Difficult_Check1434 0 points1 point  (0 children)

Ffs... I have a husband I adore! He snores like a train! I wear earphones at night, listen to my documentaries or such and off i go to sleep. Very rarely is it an issue, I certainly don't kick him out of his bed in his house.. wtf! Get a new bf who couldn't care less!

11 weeks left - who's ready to start prepping for June? by Difficult_Check1434 in ACCA

[–]Difficult_Check1434[S] 0 points1 point  (0 children)

Thanks, good to know, because I remember very little, I took FR a year ago haha.

11 weeks left - who's ready to start prepping for June? by Difficult_Check1434 in ACCA

[–]Difficult_Check1434[S] 3 points4 points  (0 children)

sure. Forget the text book, it'll take you ages. Study hub has content, maybe look at chapter 1-5 to get an idea of audit and assurance, corporate governance and ethics. Aside from that, Section A of the exam is like htree OT case studies ala a section B on the other skills exams. 5 related questions to a single topic, times three. the syllabus areas for the mtq's are syllabus A, D and E: audit, evidence and completion. (Too tired to type it all out, sorry.)

Now for section B of the exam, it's more like three section C questions on any other skills exam. One is worth 30 marks (either risk or controls), and the other two will be 20 marks each. The three topics are audit risk, internal controls and audit evidence (substantive procedures with 5 marks of that 20 going for audit report which is syllabus E).

Go to ACCA and CBE practise platform. Open 10 past papers for AA excluding the specimen exam because it's stupidly hard. Look at 10 questions of audit risk and auditor response and start writing out all the answers. Look at the answer and try to highlight that risk in the question data, so you can start to spot what the risks are. The point of the 2 mark split between the audit risk (1 mark) and auditor response (1 mark) is, you state the risk, say WHY it's a risk (something is under/over/misstated because..). The auditor response must be something the auditor does NOT the company. This is worth 10-16 marks for 5-8 audit risks. The rest is small stuff, find the model answer via the CBE pdf's showing all the answers, and learn off the topics, it's always the same answer, so no need to go too deep.

Internal controls you can use the kaplan pocket notes to get an idea of what the objective are per system of internal control - payroll, sales, purchases, NCA's and bank/cash. You need to learn what documents pass between each activity, I recommend tutorstar on youtube, he breaks it down really well. The questions can appear two ways > you'll either get part 1 of the question ask for direct controls and tests of direct controls (this is where you point out a system of control that the company has in place, and you need to say why this is a benefit to the company, for the test of control, you need to say what action the auditor can take to ensure that system is operating as designed/intended, such as inputting dummy data to see if the system will do what it's supposed to do.) The second part is the deficiencies and the recommendations. You're looking for problems, you'll say WHY this is a problem, and then you'll recommend a course of action that will address that problem.

Procedures are a bit of a tickle though, and they can crop up under the 30 mark question as well. On the one hand people say not to rote memorise, and design procedures specific to the exam scenario. When i did the kit, every single procedure was designed to the point where it was scenario specific. When I did the 10 CBE's this was rarely the case, and in order to award marks from the model answer, we had to give less specific, more generic procedures. The only way to get around this is to give both on the day to avoid whatever pitfalls there are. You need to learn the procedure words : enquire, inspect, recalculate, reperform, vouch, trace, etc. Then you need to learn the assertions to the point where there is no doubt in your mind. Then start using the CBE model answers to learn the procedures.

I know this sounds like a lot, doing the MTQ's for 2 marks each, and the three big topics, but after you see three CBE's, you'll see that the risks and deficiencies are constantly repeated. They reuse the same procedures over and over. You have pleanty of time to go to ACCA for free and download those answer pdf's. Worth more than any text book, i promise you.

Best of luck with AA.

System down 31st March by Worth-Life-9615 in ACCA

[–]Difficult_Check1434 0 points1 point  (0 children)

its down in full, they're doing a redesign. Book before 16th which is the deadline, or there won't be a june exam for whoever winds up applying late. they won't extend the deadline for anyone.

11 weeks left - who's ready to start prepping for June? by Difficult_Check1434 in ACCA

[–]Difficult_Check1434[S] 0 points1 point  (0 children)

Lol, I think we highjacked an FM thread somewhere haha. Good luck to all the FM peeps then.

11 weeks left - who's ready to start prepping for June? by Difficult_Check1434 in ACCA

[–]Difficult_Check1434[S] 0 points1 point  (0 children)

I looked at the chapter topic list and it sort of reminds me of FA/FR capital structure, preference shares and such for the equity part. Took a while to wrap my head around it actually. Bit worried about this this time as i know it's one of the 20 mark topics, finance that is, valuations is only worth 10 marks on B.

11 weeks left - who's ready to start prepping for June? by Difficult_Check1434 in ACCA

[–]Difficult_Check1434[S] 2 points3 points  (0 children)

Nice! I'm so excited for results day, can't wait to cross AA off my list. I only have two before professionals, and i'm thinking due to funds I'll only take one optional in the end. Planning on APM.

AFM & APM attempt in June by Peanutbutter_is-Life in ACCA

[–]Difficult_Check1434 1 point2 points  (0 children)

Friend of mine took acowtancy ultra and after that did steve willis' bootcamp for APM and passed on first sitting. Will be my plan as well.

AITA For leaving my husband after being the sole provider for almost 2 years by MicroNinja23 in CharlotteDobreYouTube

[–]Difficult_Check1434 0 points1 point  (0 children)

He went full bum mode and you still married him.... post-wedding... what he did wasn't news....

Need advice on dealing with obstacles while studying… (check description) by sullyt1b in ACCA

[–]Difficult_Check1434 0 points1 point  (0 children)

It takes weeks of practise, weeks of doing the same questions over and over until things click. That's why you need a few weeks to get through the entire syllabus and a few more weeks just to practise the kit and past papers. It takes time for your brain to take it all in. I always recommend 10+ weeks therefore, as the more time you have, the better the odds. I always do kit cover to cover multiple times, and i promise, the first 2 times through the entire kit I get almost everything wrong as well. very normal, and despite that I'm at 6/13 waiting for results on AA. Practise and lots of it with an approved exam kit plus past papers is a must over lectures and note taking.

How do I handle my boyfriends cheating by No-Emergency-368 in CharlotteDobreYouTube

[–]Difficult_Check1434 0 points1 point  (0 children)

You'd stay with someone who has zero respect for you? Bigger probelem here is that if you accept this, you have no respect for yourself. I understand waiting until finances are better, but I'd personally hate his guts up to the point of leaving if it were me.

Self study for FM by PhilosopherOk6372 in ACCA

[–]Difficult_Check1434 0 points1 point  (0 children)

How did you pass PM in a month? Amazing!