Audit and Assurance Services

Chapter 01        Assurance services     
Chapter 02        Audit       
Chapter 03        Fundemental principles and professional guidance      
Chapter 04        Independence safegaurds       
Chapter 05        Multiple services      
Chapter 06        Confidentiality       
Chapter 07        Professional appointment      
Chapter 08        Professional responsibility and liability       
Chapter 09        Fraud       
Chapter 10        Risk of business failure      
Chapter 11        Corporate governance       
Chapter 12        Audit committees      
Chapter 13        ISA 250      
Chapter 14        Audit planning considerations     
Chapter 15        Risk     

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AUDIT AND INTERNAL REVIEW

Chapter 01        Introduction to Auditing
Chapter 02        Legal Considerations
Chapter 03        Professional Ethics
Chapter 04        Planning an Audit
Chapter 05        Accounting and Internal Control Systems
Chapter 06        Audit Evidence (Techniques)
Chapter 07        Audit Evidence (Substantive Tests)
Chapter 08        Computers
Chapter 09        Audit Completion
Chapter 10        Audit Reports
Chapter 11        Internal Audit and Internal Review
Chapter 12        Not for Profit Organisations

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FINANCIAL REPORTING

Chapter 01        Basic ConceptsChapter 02        Published AccountsChapter 03        Revenue Recognition and InflationChapter 04        Reporting Financial PerformanceChapter 05        Fixed AssetsChapter 06        Stock and Long-term ContractsChapter 07        Provisions and ContingenciesChapter 08        Hire Purchase and LeasingChapter 09        Substance of TransactionsChapter 10        TaxationChapter 11        Group Accounts - ConsolidationsChapter 12        Group Accounts - Inter-Company TransactionsChapter 13        Group Accounts - Profit and Loss AccountChapter 14        FRS 9: Associates and Joint VenturesChapter 15        FRS6: Acquisitions and MergersChapter 16        Analysis and Interpretation of AccountsChapter 17        Cash Flow StatementsChapter 18        Related Parties and Segmental Reporting

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FINANCIAL MANAGEMENT AND CONTROL

Chapter 01        CostingChapter 02        Modern Management TechniquesChapter 03        BudgetingChapter 04        Standard Costing and VariancesChapter 05        Financial Management ObjectivesChapter 06        Performance MeasurementChapter 07        Financial Management EnvironmentChapter 08        Dividend PolicyChapter 09        Sources of Finance – EquityChapter 10        Sources of Finance – DebtChapter 11        Sources of Finance – SME ProblemsChapter 12        Investment AppraisalChapter 13        NPV Adjustments and UsesChapter 14        Dividend Valuation ModelChapter 15        Working Capital ManagementChapter 16        The Economic Environment

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Business Taxation

Chapter 01        Introduction to Corporation Tax 1Chapter 02        Calculating PCTCT 3Chapter 03        Calculating the Tax Liability 12Chapter 04        Corporation Tax Losses 15Chapter 05        Groups of Companies 18Chapter 06        Overseas Aspects of Corporation Tax 22Chapter 07        The Income Tax Computation 24Chapter 08        Calculating Schedule D Case 1 Profits 27Chapter 09        Schedule D Case 1 - Basis of Assessment 30Chapter 10        Income Tax Losses 32Chapter 11        Partnerships 35Chapter 12        Employment Income 37Chapter 13        Pensions 41Chapter 14        National Insurance Contributions 43Chapter 15        Self-Assessment - Individuals 45Chapter 16        Capital Gains Tax 47Chapter 17        Capital Gains Tax - Reliefs 53Chapter 18        Value Added Tax 56Chapter 19        Tax Planning Scenarios

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CORPORATE AND BUSINESS LAW

Chapter 01        Comparison of Criminal and Civil Law      
Chapter 02        Sources of Law       
Chapter 03        Human Rights       
Chapter 04        Legal Reasoning       
Chapter 05        The Administration of Justice       
Chapter 06        Formation of a Contract        
Chapter 07        Intention to Create Legal Relations       
Chapter 08        Consideration       
Chapter 09        Terms of a Contract       
Chapter 10        Exclusion Clauses       
Chapter 11        Restraint of Trade       
Chapter 12        Discharge of Contracts       
Chapter 13        Remedies for Breach of Contract       
Chapter 14        Employment Law       
Chapter 15        Agency       
Chapter 16        Partnership       
Chapter 17        Types of Company and Incorporation       
Chapter 18        Formation and Promotion of Companies       
Chapter 19        Memorandum of Association        
Chapter 20        The Articles of Association       
Chapter 21        Officers of the Company       
Chapter 22        Insider Dealing       
Chapter 23        Capital of a Company       
Chapter 24        Loan Capital       
Chapter 25        Capital Maintenance       
Chapter 26        Meetings and Resolutions      
Chapter 27        MinoritiesChapter 28        Insolvency    

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nformation Systems

Chapter 01        I/S and Business Strategy      
Chapter 02        Impact of IT       
Chapter 03        I/S Function, and Org' Issues (1)     
Chapter 04        I/S Function, and Org' Issues (2)     
Chapter 05        Feasibility Studies    
Chapter 06        Project Manager & Stakeholders       
Chapter 07        Project Phases and Mgt Tools    
Chapter 08        I/S Development Process   
Chapter 09        Systems analysis; user requirements   
Chapter 10        External Design     
Chapter 11        Software sources and selection      
Chapter 12        Quality assurance and testing   
Chapter 13        Implementing systems      
Chapter 14        Security and legal compliance 
Chapter 15        Post-implementation issues   

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Financial Statements

Chapter 01       Organizations       Chapter 02       The role of management      
Chapter 03       The role of the manager        
Chapter 04       Individual and group behaviour      
Chapter 05       Team management    
Chapter 06       Objective settingChapter 07       Authority, responsibility and delegation     
Chapter 08       Standard setting and performance management   
Chapter 09       Recruitment and selection      
Chapter 10       Selection   

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Financial Information for Management

Chapter 01        The purpose of cost accounting      
Chapter 02        Cost Behaviour       
Chapter 03           Understanding the Correlation between Total Costs and the Volume of OutputChapter 04        Direct and Indirect Materials: Part 1 - The control of stock itemsChapter 05        Direct & Indirect Materials: Part 2 – Stock Reorder Levels       
Chapter 06        Overheads and Absorption Costing: Part 1 - ApportionmentsChapter 07        Overheads and Absorption Costing: Part 2 - Absorption

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Financial Statements

Chapter 01       The Definition, Purpose & the Regulatory Framework of Accounting             

 Chapter 02        A summary of their basic definitions       

Chapter 03        The Statement of Principles        

Chapter 04        Why does the ASB hate Mrs. Prudence        

Chapter 05        Historical Cost Accounting       

Chapter 06        Should we depreciate buildings   

Chapter 07        FRS 3 The Structure of the Profit & Loss A/C        

Chapter 08        FRS 3 Exceptional & Extraordinary Items       

Chapter 09        FRS 3 Note of the Historical Cost Profit and Losses        

Chapter 10        FRS 3 Statement of Total Recognized Gains & Losses      

Chapter 11        SSAP 17 Post Balance Sheet Events       

Chapter 12        FRS 12 Provisions, Contingent Liabilities and Contingent Assets        

Chapter 13        The Application of the Accounting and Business Equations        

Chapter 14        The Bookkeeping Process       

Chapter 15        Cost of Sales and the Trading Account    

Chapter 16        Stocks and How to Value Them         

Chapter 17        Defining, Finding and Recording Bookkeeping Errors       

Chapter 18        Suspense Accounts and Journal Entries       

Chapter 19        FRS 1 Cash Flow Statements         

Chapter 20        FRS 1 An Example of a Typical Cash Flow Statement        

Chapter 21        Share and Business Valuation        

Chapter 22        Solvency and Financial Strength Ratios       

Chapter 23         Asset Turnover Ratios      

Chapter 24        Profit Ratios and Gearing       

Chapter 25        Sole Traders, Partnerships and Limited Companies       

Chapter 26        Partnerships Continued     

Chapter 27       Group Accounts

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ACCA qualification

Dear ACCA Students & Members

ACCA (The Association of Chartered Certified Accountants) was set up in London in 1904 to promote excellence in accountancy and finance. 

ACCA is recognised and respected across the world, and currently has 362 000 students and 131 500 members in 170 countries. ACCA is also very popular in Ukraine: there are already 155 members and near 2 000 students.

ACCA qualification

The ACCA qualification programme combines a series of practical, rigorous examinations with a period of supervised professional work experience. The examinations are tough; they need to be if the qualification is to command respect. Students must also be motivated to make the significant investment of time that is required in order to achieve success. ACCA qualification is about taking and passing a series (14) of extremely complex and demanding examinations in the area of finance and surrounding subjects (such as law and tax). Having passed those examinations and having gathered enough of practical experience, a candidate may (but does not have to) apply for a membership in the Association. ACCA exams are held twice per year (June and December) and can be sat all around the world. Some of the exams (at the lowest level) can be also organised as computer based exams (CBE), CBE exams can be sat only at special authorized centres (for example at BEA in Ukraine) during the whole year.

 

Immediate benefits from studying and obtaining the ACCA Qualification include:

Increased professional status	people who are qualified or part-qualified by nature know more and understand more from the business than most of their colleagues. It makes them more wanted and likely to be promoted or assigned to more challenging projects.
Differentiating factor	ACCA is and will always remain an indication of a super standard quality of a person as a finance specialist. Such people are automatically selected from job applicants, project applicants etc.
Enhanced knowledge	through a preparation for the courses candidates extend their knowledge in an unprecedented way. They learn financial accounting from basics to a great level of complexity, they get to know the management accounting techniques, tax rules, legal background, organization and IT management techniques, strategy development process which become combined and contribute to the overall understanding of how an organization works.
Cross functional flexibility	due to the breadth of subjects in the ACCA qualifications, candidates are no longer doomed to stay in the finance department. Their employers are confident that they can perform a lot of other work in related areas such as: tax, IT, strategic planning, general management.
More money	because you know more and you can do more, you may expect you will be remunerated more.

 

How to start ACCA programme

The registration goes on all throughout the year, but please note that there are 2 initial registration deadlines per year: in order for you to sit exams in the December session, all your documents must reach the ACCA UK office by 15th of August (or the ACCA local office by 30th of July) and in order to sit exams in the June session all your documents must reach the ACCA UK office by 31st of December (or the ACCA local office by 10th of December). Please contact BEA if you would like to obtain the registration form or if you need any help filling it in. How do I register with ACCA? Complete the registration form and enclose the appropriate supporting documentation. Documents for registration: 1. Online filled-in form (www.accaglobal.com/join/register) 2. Copy of one document proving your identity (ID card OR passport OR birth certificate) if this document has titles in English as well, if not – simple copy plus translated copy (with licensed translator’s stamp) 3. Copy of marriage license – if applicable (only if surname on ID document differs from surname on your diplomas) 4. 2 passport size photos 5. Copy of the university diploma (for university graduates – for exemption purposes) plus translated copy (with licensed translator’s stamp) 6. copy of list of studied subjects (from the university) plus translated copy (with licensed translator’s stamp) 7. copies of other diplomas that you consider would entitle you to further exemptions (like membership of Professional bodies) – optional Important notes: - All documents mentioned above that are not in English or do not have English titles must be translated by a licensed translator (ordinary service practiced by translation agency) - It is enough to have only a simple copy of those documents that already have their section titles in English (for instance passport or diplomas that are (also) in English) - In the registration package you will also put simple copies of the originals - You must write on all your documents (each sheet) the application number which is the unique form number that you will have on each printed form (or that would be generated at the end of your online registration process) The completed form and documents (translated into English and notirised) must be sent to ACCA Ukraine office: ACCA Ukraine 9/2 Chervonoarmiyska street Entrance #7, office 77 Kyiv 01004 Ukraine tel. +38 (044) 498 34 50 Or directly to ACCA in UK: ACCA 2 Central Quay, 89 Hydepark Street Glasgow, G3 8BW United Kingdom tel: +44 (0)141 582 2000 e-mail: info@accaglobal.com Please ensure that you submit copies of your completion certificates, academic transcripts (and official English translations) with your letter of enquiry.  What do I do next? Once your application has been processed successfully (it takes up to six weeks), you will receive your Student Information Pack, which contains all you need to know as a student of ACCA, including: - Registration Card; - Detailed syllabus; - Information regarding the ACCA/Oxford Brooks scheme (www.accaglobal.com/students/study_exams/qualifications/degree); - The program of the exams as well as information regarding the exams’ organization; - Access to trainee development matrix which details the minimum requirements of practical experience in relation with the possibility of becoming an ACCA member; - The password for an online personal account (myACCA) by means of which you will be able to manage your ACCA activity. You will also receive monthly copies of the ACCA students’ magazine student accountant containing important information about forthcoming examinations, technical articles on the syllabus, news, reviews and other useful information. Will I get exemptions? On your initial registration form you have an exemptions section, exemptions that you can require based on your previous studies. This fact means that ACCA recognizes that you already might have relevant knowledge from previous qualifications and you can be exempt from sitting some of ACCA’s exams based on your academic records. You can check your exemption eligibility for ACCA Qualification following this link:www.portal.accaglobal.com. The exemptions must be paid just like normal exams only you don’t have to sit the exam, buy the books or take the courses for that subject. How do I enter for the exams?  You will know the exemptions you were granted once you receive the Student Information Pack and then you will be able to register for the ACCA exams – for the December session the deadline is the 15th of October (date by which the ACCA must receive your option) and for the June session the deadline is the 15th of April. You can register online to the exams through your personal ACCA account, myACCA, or you can register by filling in some forms (received by post from ACCA UK) that you will have to send back to the ACCA local office or to the UK directly. What are the ACCA fees?  You can follow the schedule of payments in the following table: Registration fee £66 once Annual Subscription £66 annually (paid on January 1st) Examinations fees payable before each exam: Knowledge module exam £53 per exam (x3) Skills module exam £66 per exam (x6) Professional module exam £78 per exam (x5) * The sums are presented in GB pounds. You can see the fees for 2009 year. In order to update the information about the fees for the following years, please follow the link:http://www.accaglobal.com/students/acca/info/fees ** All sums are presented excluding VAT. All taxes are payable directly in Great Britain and only in GBP. How do I start to study with BEA? When you are registered with ACCA and after you decide which exams you have to sit the nearest session, please contact BEA to enrol on our courses. Tick here to fill COURSE REGISTRATION FORM. More detailed information about registration, exemptions and ACCA exams, can be found at: www.accaglobal.com.

NOTE: Its an ACCA Pakistan Student Non Official Website/ Sharing Group

 

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ARTICAL

Only ACCA Members Could Claim their Masters from HEC

By Bilal Siddiqui   Leonardo Da Vinci once said, "People of accomplishment rarely sat back and let things happen to them. They went out and happened to things." I'm not sure about anyone else but in this case I believe the title goes to 'ACCA Pakistan Office'.   Recent move by ICAP when it reduces the exemption of ACCA and CIMA students wasn't really appreciated by many. Since ACCA is the market leader in Pakistan market so everyone was taking shots on them. In fact, ever

HEC recognizes the ACCA qualification as being equivalent to a Masters degree

Press Release   The Higher Education Commission of Pakistan has granted equivalence to ACCA qualification to a Masters level degree. A circular issued by HEC states that ‘HEC recognizes the membership of Association of Chartered Certified Accountants (ACCA) after completion of professional qualification and other requisites including training and required professional experience as equivalent to MComm. degree awarded by Pakistan universities on the following terms and conditions:

Fraud Charges Against Deloitte

By Taha Kazmi (Ireland)   I have been a big four observer and have been writing for many newspapers. And during all these years, covering fraud charges on big four, it sounds more like a "Lady Gaga" song. You hate it but you have to listen to it because everyone doing it. Deloitte, which recently emerged as the top accounting firm is under fraud charges from one of its clients.   According to many independent newspapers, Medium- and heavy-duty truck maker Navistar Internati

Ex Auditor From Ferguson takes Charge as PSO MD

By Aamna Waheed   After Prime Minister fired all oil companies apex leaders, an ex auditor from A.F.Ferguson, Yaqoob Sattar is expecting to take charge of Pakistan State Oil.   According to different news sources, Executive Director (ED) Finance Yaqoob Suttar is expected to take acting charge of Managing Director (MD) Pakistan State Oil (PSO).   A chartered accountant by profession, Yaqoob Suttar has completed his audit training from AF Ferguson & Co and is a

Thank God I’m a Chartered Accountant, Not a Politician

By Ali Ahmad   In its latest move, ACCA changes its entry route policy and make it, literally, possible for anyone, and I mean anyone, to start studying ACCA. And even ICAP made it easier for students to pursue their dream. Accountancy and auditing has been a lucrative career in Pakistan and abroad and studying a foreign qualification is charm enough to attract young people to make a fortune. But after the declaration of assets from our respectable lawmakers, I believe they need th

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Accountant Jealousy With Royal Wedding

By Ali Ahmad   Once again, we call attention to troubles from across the Pond, courtesy of AccountingWEB UK. This time, the Single Fat Accountant is dealing with his uncontrollable jealousy over Kate and Willy’s upcoming nuptials:     I would like to publicly admit that I am jealous of the about to be married Royal couple. I do not want to know anything about them. I would prefer if there a total media blackout on the whole wedding. This to my big disappointme

LUMS Students Embezzled One Million

By Zaara Rahman   Five students of the Lahore University of Management Sciences (LUMS) have been suspended and fined over the alleged embezzlement of Rs 1 million during the recently organised Young Leaders Entrepreneur Summit (YLES) 2011, Pakistan Today reported. [caption id="attachment_2492" align="alignnone" width="300" caption="LES was founded in 2006 - Picture (LES Website)"][/caption]   The newspaper withhold names of those student who actually violated the rules

SKANS in Peshawar

Press Release   SKANS School Accountancy adds another Education center in Peshawar, Pakistan with  the aim to provide the locals with quality professional education. The new campus is fully operational and maintains the same high level standards as the ones followed by the other 11 branches of SKANS"   Contact Details of Peshawar Campus: 5 New Arbab Colony, Behind Siyal Flats, Abdara Road, Peshawar Tel:091-58644112 Email:info.pew@skans.edu.pk   [ca

Did a PwC Auditor Work Herself to Death?

By Taha Kazmi (Ireland)   Pan Jie was a 25 year-old auditor in PwC’s Shanghai office, starting her career with the firm last October. She died of acute cerebral meningitis on April 10th, having “ignored the illness until a fever surged,” after catching the flu on March 31st. Reports have stated that Jie told a friend that “she had been working up to 18 hours a day and about 120 hours a week,” prior to her death.     A doctor quoted by one of the reports e

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