Complete list of definitions for F8 revision

This is a long list of definitions for F8 Audit And Assurance revision. I found this thread in OpenTuition while I'm browsing around the forum, it is a great forum for ACCA students to share out their tips and information. They even offer free notes and videos too! Thanks OpenTuition.

It will be very helpful on your way to memorize definitions for your coming auditing paper. All the word definitions are in alphabetical order so it's easier for you to look for them. Just like in a Dictionary.

Use the search button to search for definition.... or use CTRL+F....

Agreed upon procedures engagement
—An engagement in which an auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report form their own conclusions from the report by the auditor. The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results

* Analytical procedures
—Evaluations of financial information through analysis of
plausible relationships among both financial and non-financial data. Analytical
procedures also encompass such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount.

* Appropriateness (of audit evidence)
—The measure of the quality of audit evidence; that is, its relevance and its reliability in providing support for the conclusions on which the auditor’s opinion is based.

* Assertions
—Representations by management, explicit or otherwise, that are embodied in the financial statements, as used by the auditor to consider the different types of potential misstatements that may occur.

Reasonable assurance engagement
—The objective of a reasonable assurance
engagement is a reduction in assurance engagement risk to an acceptably low level in the circumstances of the engagement as the basis for a positive form of expression of the practitioner’s conclusion.

Limited assurance engagement
—The objective of a limited assurance engagement is a reduction in assurance engagement risk to a level that is acceptable in the circumstances of the engagement, but where that risk is greater than for a reasonable assurance engagement, as the basis for a negative form of expression of the practitioner’s conclusion.

Assurance engagement risk
—The risk that the practitioner expresses an inappropriate conclusion when the subject matter information is materially misstated.

*Audit documentation
—The record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached (terms such as “working papers” or “workpapers” are also sometimes used).

*Audit risk
—The risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Audit risk is a function of the risks of material misstatement and detection risk.

*Audit sampling (sampling)
—The application of audit procedures to less than 100% of items within a population of audit relevance such that all sampling units have a chance of selection in order to provide the auditor with a reasonable basis on which to draw conclusions about the entire population.

*Auditor
—“Auditor” is used to refer to the person or persons conducting the audit, usually the engagement partner or other members of the engagement team, or, as applicable, the firm. Where an ISA expressly intends that a requirement or responsibility be fulfilled by the engagement partner, the term “engagement partner” rather than “auditor” is used. “Engagement partner” and “firm” are to be read as referring to their public sector equivalents where relevant.

Computer-assisted audit techniques—Applications of auditing procedures using the computer as an audit tool (also known as CAATs).

Control activities
—Those policies and procedures that help ensure that management directives are carried out. Control activities are a component of internal control.

Control environment
—Includes the governance and management functions and the attitudes, awareness and actions of those charged with governance and management concerning the entity’s internal control and its importance in the entity. The control environment is a component of internal control.

*Detection risk
—The risk that the procedures performed by the auditor to reduce audit risk to an acceptably low level will not detect a misstatement that exists and that could be material, either individually or when aggregated with other misstatements.

*Emphasis of Matter paragraph
—A paragraph included in the auditor’s report that refers to a matter appropriately presented or disclosed in the financial statements that, in the auditor’s judgment, is of such importance that it is fundamental to users’ understanding of the financial statements.

Engagement letter
—Written terms of an engagement in the form of a letter.

*Engagement partner
—The partner or other person in the firm who is responsible for the engagement and its performance, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body.

*Engagement team
—All partners and staff performing the engagement, and any individuals engaged by the firm or a network firm who perform procedures on the engagement. This excludes external experts engaged by the firm or a network firm

Error
—An unintentional misstatement in financial statements, including the omission of an amount or a disclosure.

*Fraud
—An intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal advantage.

Fraudulent financial reporting
—Involves intentional misstatements, including omissions of amounts or disclosures in financial statements, to deceive financial statement users.

General IT-controls
—Policies and procedures that relate to many applications and support the effective functioning of application controls by helping to ensure the continued proper operation of information systems.

General IT
-controls commonly include controls over data center and network operations; system software acquisition, change and maintenance; access security; and application system acquisition, development, and maintenance.

Inquiry
—Inquiry consists of seeking information of knowledgeable persons, both
financial and non-financial, within the entity or outside the entity.

Inspection (as an audit procedure)
—Examining records or documents, whether internal or external, in paper form, electronic form, or other media, or a physical examination of an asset.

*Inspection (in relation to quality control)
—In relation to completed engagements, procedures designed to provide evidence of compliance by engagement teams with the firm’s quality control policies and procedures.

*Internal audit function
—An appraisal activity established or provided as a service to the entity. Its functions include, amongst other things, examining, evaluating and monitoring the adequacy and effectiveness of internal control.

*Internal auditors
—Those individuals who perform the activities of the internal audit function. Internal auditors may belong to an internal audit department or equivalent function.

*Internal control
—The process designed, implemented and maintained by those
charged with governance, management and other personnel to provide reasonable assurance about the achievement of an entity’s objectives with regard to reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations. The term “controls” refers to any aspects of one or more of the components of internal control.

Investigate
—Inquire into matters arising from other procedures to resolve them.

*Misstatement
—A difference between the amount, classification, presentation, or
disclosure of a reported financial statement item and the amount, classification,
presentation, or disclosure that is required for the item to be in accordance with the applicable financial reporting framework. Misstatements can arise from error or fraud.

*Non-sampling risk
—The risk that the auditor reaches an erroneous conclusion for any reason not related to sampling risk.

Observation
—Consists of looking at a process or procedure being performed by others, for example, the auditor’s observation of inventory counting by the entity’s personnel, or of the performance of control activities.

*Other Matter paragraph
—A paragraph included in the auditor’s report that refers to a matter other than those presented or disclosed in the financial statements that, in the auditor’s judgment, is relevant to users’ understanding of the audit, the auditor’s responsibilities or the auditor’s report.

Overall audit strategy
—Sets the scope, timing and direction of the audit, and guides the development of the more detailed audit plan.

*Partner
—Any individual with authority to bind the firm with respect to the
performance of a professional services engagement.

*Performance materiality
—The amount or amounts set by the auditor at less than materiality for the financial statements as a whole to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial statements as a whole. If applicable, performance materiality also refers to the amount or amounts set by the auditor at less than the materiality level or levels for particular classes of transactions, account balances or disclosures.

*Pervasive
—A term used, in the context of misstatements, to describe the effects on the financial statements of misstatements or the possible effects on the financial statements of misstatements, if any, that are undetected due to an inability to obtain sufficient appropriate audit evidence. Pervasive effects on the financial statements are those that, in the auditor’s judgment:
(a) Are not confined to specific elements, accounts or items of the financial
statements;
(b) If so confined, represent or could represent a substantial proportion of the
financial statements; or
(c) In relation to disclosures, are fundamental to users’ understanding of the financial statements.

*Population
—The entire set of data from which a sample is selected and about which the auditor wishes to draw conclusions.

Practitioner
—A professional accountant in public practice.

*Professional judgment
—The application of relevant training, knowledge and
experience, within the context provided by auditing, accounting and ethical standards, in making informed decisions about the courses of action that are appropriate in the circumstances of the audit engagement.

*Professional skepticism
—An attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of evidence.

*Reasonable assurance (in the context of assurance engagements, including audit engagements, and quality control)
—A high, but not absolute, level of assurance.

Recalculation
—Consists of checking the mathematical accuracy of documents or
records.

Reperformance
—The auditor’s independent execution of procedures or controls that were originally performed as part of the entity’s internal controls.

Responsible party
—The person (or persons) who:
(a) In a direct reporting engagement, is responsible for the subject matter; or
(b) In an assertion-based engagement, is responsible for the subject matter information (the assertion), and may be responsible for the subject matter.

Review engagement
—The objective of a review engagement is to enable an auditor to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to the auditor’s attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework.

*Risk assessment procedures
—The audit procedures performed to obtain an
understanding of the entity and its environment, including the entity’s internal control, to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial statement and assertion levels.

*Risk of material misstatement
—The risk that the financial statements are materially misstated prior to audit.
This consists of two components, described as follows at the assertion level:
(a) Inherent risk—The susceptibility of an assertion about a class of transaction,
account balance or disclosure to a misstatement that could be material, either
individually or when aggregated with other misstatements, before consideration
of any related controls.
(b) Control risk—The risk that a misstatement that could occur in an assertion about a class of transaction, account balance or disclosure and that could be material, either individually or when aggregated with other misstatements, will not be prevented, or detected and corrected, on a timely basis by the entity’s internal control.

*Sampling risk
—The risk that the auditor’s conclusion based on a sample may be
different from the conclusion if the entire population were subjected to the same audit procedure. Sampling risk can lead to two types of erroneous conclusions:
(a) In the case of a test of controls, that controls are more effective than they actually are, or in the case of a test of details, that a material misstatement does not exist when in fact it does. The auditor is primarily concerned with this type of erroneous conclusion because it affects audit effectiveness and is more likely to lead to an inappropriate audit opinion.
(b) In the case of a test of controls, that controls are less effective than they actually are, or in the case of a test of details, that a material misstatement exists when in fact it does not. This type of erroneous conclusion affects audit efficiency as it would usually lead to additional work to establish that initial conclusions were incorrect.

*Significant deficiency in internal control
—A deficiency or combination of deficiencies in internal control that, in the auditor’s professional judgment, is of sufficient importance to merit the attention of those charged with governance.

*Subsequent events
—Events occurring between the date of the financial statements and the date of the auditor’s report, and facts that become known to the auditor after the date of the auditor’s report.

*Substantive procedure
—An audit procedure designed to detect material misstatements
at the assertion level. Substantive procedures comprise:
(a) Tests of details (of classes of transactions, account balances, and disclosures); and
(b) Substantive analytical procedures.

*Sufficiency (of audit evidence)
—The measure of the quantity of audit evidence. The quantity of the audit evidence needed is affected by the auditor’s assessment of the risks of material misstatement and also by the quality of such audit evidence.

*Tests of controls
—An audit procedure designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level.

*Those charged with governance
—The person(s) or organization(s) (for example, a corporate trustee) with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes overseeing the financial reporting process. For some entities in some jurisdictions, those charged with governance may include management personnel, for example, executive members of a governance board of a private or public sector entity, or an owner-manager.

*Tolerable misstatement
—A monetary amount set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the monetary amount set by the auditor is not exceeded by the actual misstatement in the population.

*Unmodified opinion
—The opinion expressed by the auditor when the auditor
concludes that the financial statements are prepared, in all material respects, in
accordance with the applicable financial reporting framework

Walk-through test
—Involves tracing a few transactions through the financial reporting system.

*Written representation
—A written statement by management provided to the auditor to confirm certain matters or to support other audit evidence. Written representations in this context do not include financial statements, the assertions therein, or supporting books and records.

Stewardship
–is the responsibility to take good care of resources. A steward is a person entrusted with management of another person’s property, for example, when one person is paid to look after another person’s house while the owner goes abroad on holiday.

A fiduciary relationship
— is a relationship of ‘good faith’ such as that between the directors of a company and the shareholders of the company. There is a ‘separation of ownership and control’ in the sense that the shareholders own the company, while the directors take the decisions. The directors must take their decisions in the interests of the shareholders rather than in their own selfish personal interests.

Audit sampling
— (sampling) involves the application of audit procedures to less than 100% of items within a class of transactions or account balance such that all sampling units have a chance of selection. This will enable the auditor to obtain and evaluate audit evidence about some characteristic of the items selected in order to form or assist in forming a conclusion concerning the population from which the sample is drawn. Audit sampling can use either a statistical or a non-statistical approach.

Random selection
— generating a random number to determine which item or $ in the population is the first in the sample and using a sampling interval, usually based on tolerable error, to select subsequent items.

Judgmental or haphazard sampling
— picking say two invoices from each month, or focusing on a particular period do not usually count as statistical sampling because of the risk of bias in selecting the sample.

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ACCA Exam Tips December 2010 (BPP)

BPP released their exam tips for December 2010

All these are merely intelligent guesses, not 100% accurate. Use it wisely. May the force be with you!

F4
Operation of judicial precedent
Implied legal intention in contract formation
Tort of negligence – breach of duty of care
Breach of contract and remedies
Directors’ duties
Insider dealing

F5
Specialist Cost and Management Accounting Techniques: ABC, Throughput Accounting & Target Costing have featured recently. Be prepared to discuss techniques such as ABC compared to traditional costing techniques such as Absorption Costing.
Decision making techniques: Relevant costing, linear programming and risk & uncertainty have been examined recently; pricing can be combined with other parts of the syllabus.
Budgeting: Learning curves have featured most regularly to date. Discussion marks may look at the appropriateness of budgeting types or the behavioural impacts of types of budgeting. Numerical elements in a budgeting question could include flexed budgets or time series analysis.
Standard costing & variance analysis: Mix & yield variances, planning & operating variances and operating statements have been examined. Be prepared to discuss performance, and whether variances are an indicative measure of good / bad performance.
Performance Measurement and Control: Questions focusing on interpretation of performance, and financial vs. non financial measures have featured on all papers to date. Questions could focus on the public sector, divisional performance measures such as ROI / RI or a discussion of the impact on performance of various transfer prices.

F6
Income tax involving employment income and national insurance contributions
Corporation tax involving a long period of account
Husband and wife disposing a number of different assets including chattels, inter-spouse transfers, entrepreneurs’ relief
Sole trade commencing trade and then changing their accounting date
Income tax losses

F7
Q1 (25 marks): Consolidated SOCI and/or SOFP with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit, other syllabus area). In addition, there is also a discursive part (b) on reasons for adjusting for unrealised profit or other group topic.
Q2 (25 marks): Accounts restatement/preparation with adjustments e.g. depreciation, current/deferred tax, inventory valuation, leases, substance over form issues, financial instruments (change in FV or amortised cost), revaluations, share issues or government grants. May include discontinued operation, EPS calculation or SOCIE with a prior period adjustment
Q3 (25 marks): Interpretation and/or statement of cash flows, perhaps with written part on aims of not-for-profit entities. Interpretation may focus on limited ratios and their interpretation (e.g. liquidity); sections of a statement of cash flows (rather than whole statement) may be tested
Q4 & Q5 (15 & 10 marks): One question in context of conceptual framework, and the other containing one or two discrete topics; the possibilities include: regulatory framework, inflation, government grants, discontinued operations, impairments, deferred tax, leases, intangible assets, or provisions

F8
Audit planning (analytical procedures)
The assessment of audit risk
Audit procedures (both substantive and tests of control) relevant to key audit assertions
Not for profit organisations
Subsequent events
Audit reporting and materiality

F9
Working capital: this has always been a favourite theme; questions on inventory management and receivables management are likely here. Make sure that you are comfortable with using working capital ratios to calculate inventory, receivables, payables and cash balances
Investment decisions: this exam normally contains a question involving net present value (NPV), often with tax and inflation. Remember that you may need to calculate a weighted average cost of capital before you calculate an NPV.
Sources of finance: this is a topical area, we would expect a part question on financing problems covering gearing issues and problems for small-medium sized companies. Ratio analysis is likely to feature here.
Business Valuations: this area is commonly tested and is a core syllabus area. You should note that in recent sittings the examiner has looked to combine different syllabus areas within the same exam question – for example asking you to calculate a cost of equity and then use it to value a company. Make sure that you are also able to value debt.
Financial environment & risk management: recent exchange rate and interest rate volatility could impact on a company’s financial management plans – a part question on this area could be set, with further discussion and calculations on hedging techniques.

P1
The topic of stakeholders was examined in June but remains a key area.
Over the last few months the role of the board of directors has remained at the forefront of the news.
You may be asked to identify and categorise some key risks in a scenario.
You should make sure that you can discuss and apply ethical theories.
Don’t neglect the less glamorous areas of the syllabus, corporate governance or risk and control disclosure could always be tested.

P2
Section A
The compulsory case study is likely to require you to prepare a group statement of financial position (balance sheet) and/or statement of comprehensive income (profit and loss account) with continuing and discontinued activities or foreign subsidiary. Alternatively, it could be a consolidated statement of cash flows which would include other accounting complications such as financial instruments, pensions, share-based payment and impairments.
There will also be discursive requirements on a linked accounting adjustment and social/ethical/moral aspects of corporate reporting.
Section B
An industry question (often Q3), testing a range of standards (NB: no specific knowledge of the particular industry is required).
A discussion question (Q4) looking at current developments in corporate reporting, such as: small and medium-sized entities, revenue recognition, success/issues on implementation of IFRSs, management commentary, comprehensive income/presentation of financial statements, improvements in performance measurement. It may also include a related computational part based on figures from a case study.
Single topic (e.g. share-based payment, deferred tax, pensions) or 'multi-part' question (Q2) testing a range of standards separately, such as: related parties, accounting policies, discontinued operations, recognition and/or impairment of tangible and intangible assets, government grants, foreign currency transactions, provisions, events after the reporting period (balance sheet date), leases, consistency of standards with the conceptual framework, the effect of accounting treatments on earnings per share or ratios.

P3
Important areas to cover:
Strategic analysis: Key models of analysis include mission and objectives, stakeholder analysis, PESTEL, Porters five forces and diamond models, the value chain, 9Ms and portfolio analysis. This may culminate in a SWOT and appraisal of the organisations overall position.
Strategic choice: The syllabus makes a distinction between the approach and role taken by the corporate parent and a Strategic Business Unit (SBU). You should therefore ensure that you are aware of the differences and be able to identify the appropriate approach from the scenario in the question.
Key models here include Porter’s Generic strategies, Bowman’s Strategy Clock, Ansoff's matrix and Lynch’s expansion matrix.
Finally the strategic criteria for assessing options of suitability, acceptability and feasibility may be employed to justify recommendations.
Strategic action: Implementation issues cover much of the rest of the syllabus and could include issues of culture (e.g. Cultural web, Handy’s cultures, Miles and Snow), quality (TQM, six sigma, CMMI, V-model), process improvement and software selection (Harman, Skidmore and Eva), e-business or people management (e.g. planning, recruitment, performance management, development) or change management (Force Field analysis).

P4
Role and responsibility towards stakeholders: Ethical issues continue to appear regularly as an optional discussion question, normally with practical financial issues from elsewhere in the syllabus. The discussion question is normally one of the easier optional questions.
Advanced investment appraisal: The compulsory question often features an NPV question with an analysis of risk and / or financing. Cost of capital calculations are regularly tested, make sure that you are comfortable adjusting betas for differences in gearing. Real options and adjusted present value are also popular themes, and are normally tested in section B of the exam.
Acquisitions and mergers: This exam normally contains a question involving valuations which the examiner sees as a crucial part of the syllabus; valuations questions are also likely to cover strategic and financing issues.
Corporate reconstruction: This is a topical area; a question could also ask you to evaluate a capital reconstruction e.g. a business that is considering offering its creditors shares in order to enable it to survive.
Advanced risk management: We would expect to see a numerical risk management question featuring either interest rate or exchange rate hedging. Foreign currency derivatives are due to be tested numerically; the new examiner has indicated that questions may well ask you to compare the results of a hedge using a number of different hedging techniques.

P5
Strategic management accounting: This is a key theme of this paper. Numerical questions could include analysing risk using expected values and probabilities; benchmarking and discussion of critical success factors are likely to be key discussion areas.
Budgeting: Financial data has appeared repeatedly in past exams. You may be asked to draw up an income statement or budget or to compare actual performance against a benchmark. This could include the use of activity-based approaches, learning curves or non-financial indicators; although the new examiner has indicated that his questions will require more skill in interpreting data and discussing strategies to improve performance rather than performing calculations.
‘Beyond budgeting’ is an important area that can be tested either as a discussion or a numerical question.
Strategic performance measures in the private sector: Divisional performance measurement is another key area; ROI, RI , EVA, NPV or even ABC could feature here and transfer pricing could feature as an aspect of these questions.
Alternative views of performance measurement: Questions are commonly set that require a good understanding of the balanced scorecard, the building blocks model and the performance pyramid. Questions will often require you to analyse data that has been collected using one of these models.
Performance hierarchy: Linking strategic decisions to mission statements or suggesting strategic options using models such as Ansoff’s matrix or the BCG matrix lend themselves to questions containing a mixture of financial and discursive elements that could easily include a simple NPV or profit analysis.

P6
Income tax – EIS/VCT schemes, personal service companies, losses, overseas aspects
Corporation tax – close companies, liquidations, transfer of trade
Inheritance tax – lifetime gifts, fall in value of lifetime gifts, quick succession relief
Capital gains tax – takeovers, damaged/destroyed assets, small part disposal of land, leases and wasting assets
VAT – groups, imports/exports
Ethics

P7
• A risk-based and/or planning scenario in the compulsory section
• Questions based on articles published in Student Accountant in the past six months
• A number of requirements asking for audit procedures and required evidence in respect of specific financial reporting issues
• A practice-based scenario looking at professional, ethical and quality control issues
• A reporting scenario of some sort - probably testing either emphasis of matter or other matter paragraphs

Via PQ Magazine Thanks to PQ Magazine for compiling and sharing the tips!

For more Compiled Exam Tips CLICK HEEEERRRREEE

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ACCA December 2010 Exam tips

There goes the ACCA Exam month again. Every students are searching for exam tips either from BPP, Kaplan, First Intuition and ATC, regardless of which countries the tips are gathered, these tips will be shared via internet.

With just a keyboard and Google, you can key in "ACCA Exam Tips December 2010" the result will warp show you where to get these tips.

But bear in mind, the tips are merely intelligent guesses which means it is not accurate. Well you're warned, but who cares right? =D Anyway currently there is only F7 exam tips found. What you said? You need more than just F7 exam tips? You need other ACCA Exam Tips? Well....

Other fundamentals and professional level papers exam tips for ACCA Exam December 2010 is coming soon.... Be patient..... Keep visit! Meanwhile go do your revision.

Compiled Exam tips from various institutions...
1)BPP Exam Tips for December 2010

2)Kaplan Exam Tips at PQ Magazine

3)LBSF Exam Tips at PQ Magazine

4)Tips 2010 given by OpenTuition

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ACCA Exam December 2010 (F7)

ACCA Exam Tips for F7 Financial Reporting to get you prepared for the coming December 2010. You still have 1 month to get prepared so do it now! Remember all the tips provided should not be used as a guide for your revision.

ATC
Common areas that feature on a regular basis in the exam are as follows:
• Leases.
• Revenue recognition.
• Substance versus form.
• Convertible instruments (IAS 39).
• Accounting for taxation.
• Accounting for assets, particularly IAS 16.
Important areas that have not been examined under the new syllabus and therefore may feature in the near future are:
• Construction contracts.
• Impairment of assets.
• IAS 37, accounting for provisions.

BPP
Q1 (25 marks): Consolidated SOCI and/or SOFP with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit, other syllabus area). In addition, there is also a discursive part (b) on reasons for adjusting for unrealised profit or other group topics.
Q2 (25 marks): Accounts restatement/ preparation with adjustments, for example depreciation, current/deferred tax, inventory valuation, leases, substance over form issues, financial instruments (change in FV or amortised cost), revaluations, share issues or government grants. May include discontinued operation, EPS calculation or SOCIE with a prior period adjustment
Q3 (25 marks): Interpretation and/or statement of cash flows, perhaps with written part on aims of not-for-profit entities. Interpretation may focus on limited ratios and their interpretation (e.g. liquidity); sections of a statement of cash flows (rather than the whole) may be tested
Q4 & Q5 (15 & 10 marks): One question in context of conceptual framework, and the other containing one or two discrete topics; the possibilities include: regulatory framework, inflation, government grants, discontinued operations, impairments, deferred tax, leases, intangible assets, or provisions.

First Intuition
• Q1 Consolidation – revenue statement with goodwill computation.
• Q2 Single company accounts with, lease,
non current asset, tax and sale or return.
• Q3 Ratios and report writing.
• Q4 The framework with contingent liabilities and financial instruments.
• Q5 Long-term contracts.

Kaplan Financial
• Q1 Mixed consolidated income statement and statement of financial position – possible adjustments to include PURP.
• Q2 Redraft of financial statements (also to include SOCIE) – possible adjustments could include revenue recognition, investment property, depreciation.
• Q3 Calculation of an element of a statement of cash flow and a report to include calculation of ratios and interpretation of the accounts using the statement of cash flow and ratio results.
• Q4 & 5 IFRS 5: Discontinued operations, government grants, investment property.

LSBF
• Q1 Consolidated income statement with IFRS 3 (Revised) discussion, or both CSFP and CIS in same Q (last one Dec 2008).
• Q2 Re-drafting or published accounts.
• Q3 Interpretation, with or without cash flows.
• Q4 Mixed standards, especially leasing, impairment, EPS, grants.
• Q5 Depreciation, provisions, deferred tax, standard setting.

More ACCA Exam Tips coming up.... Don't miss out the release of other Exam Tips! Come back visit us again!

Source via:-
PQ Magazine
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Powerful People in 2010 by "Forbes"


The picture only shows 8 powerful people in 2010.

Let's go through the list and details with me, this is a very long drive so you might wanna get your drinks and some snacks for this, and while you are at it, why don’t you go for a toilet break too. For some this might be boring, so I suggest you to leave during the interval break I instructed within the content. If you enjoyed it then please share around.

These are the influencers, who make the economy go around when they voice out! I might exaggerated but you get my point.


1st is Hu Jintao(胡锦涛). He is the president for People's Republic of China. And under Hu's administration China economy has experienced an incredible growth when he artificially lowered the RMB currency against USD, encouraging worldwide investors to invest in China's market. Of course Hu’s policy succeeded as a lot of investors set up their factories and business in China and exports the products to other countries. Regardless of the SARS attack and poisonous milk powder, China economy still blossom through the year 2010. Because of these, now everywhere you purchased the products it will be stamped with “Made in China”. Everyone’s happy because now the supply can be higher than demand!

2nd is Barack Obama. He is the president of United States of America. Being the first African American to hold the presidency and first who put all-out in election campaign through internet. Besides that, in America he implemented a few policies that can aid the financial crisis; one of them was economic stimulus (aka American Recovery and Reinvestment Act). Obama had even tried to fixed the damaged done by Bush’s decision in the past, which is the attack that siege Iraq with the proof of Iraq building warhead but now slowly Obama is withdrawing the troops from Iraq. On October 9, 2009, a very historical moment for Obama as he won Nobel Peace Prize laureate.

Okay now enough of state presidents. Well, are you still here reading the facts I’ve gathered? This is the first interval break! So if you felt bored, you better close the blog now…

1….2…..3…..Okay let’s continue the class =)

Let's look at number 10, our founder of Microsoft; Bill Gates. In the year 2010 he has persuaded a number of philanthropic endeavors (total 40 world's richest people), to donate their majority of wealth to charities and good causes. The result of this was majority of them agreed with Bill Gates. He is now being full-time to focus on philanthropic acts in Bill & Melinda Gates Foundation.

Next will be the Google co-founder. Larry Page and Sergey Brin, ranked 22 and 23 respectively. The magnificent Google’s algometric for your websites or blogs page rank, until today no one is able to crack their work! Bloggers and website owners are still trying to figure this out; regardless of the fussiness in page rank the advertisers used this to evaluate the cost for advertising in your blogs or websites. Recently their great work is the Google Instant “search-before-you-type”!

2nd interval break for you! I don’t wanna get my readers exhausted!!

Mark Zuckerberg the founder of Facebook ranked 40. Quoted from Forbes –
"Zuck" runs network of 600 million "friends" who announce births, deaths, breakups, geopolitical revolutions, share photos and harvest squash 30 billion times a month. Site is second-most-visited worldwide, after Google; users spend over 700 billion minutes per month with site. Harvard dropout even runs his own monetary system--Facebook Credits--to facilitate transactions.
Yeah he is very influential indeed, the Facebook is a very addictive website of all now as you will “force” yourself login 20 times in a day just to check for updates and post on Wall. Even more addictive when you go for games! I guess it won’t be 20 times now because the access via mobile phone made you able to login anytime and anywhere. You can update your Facebook LIVE!
Recently there’s even a movie about Zuckerberg in “The Social Network” movie in 2010.

Julian Assange ranked 68 of most powerful people list. Julian’s organization is the WikiLeaks who was once an infamous computer hacker in Australia. WikiLeaks founded in 2006 with the aim to release confidential and classified documents are routinely made available to the general public. And recently the release of 400,000 Iraq War classified documents into the public been announced by Julian but still on pending as the government is discussing with him. He is definitely a great provocateur because he has successfully revealing misconduct in business and government.

Okay, that’s all my 6 powerful people in the post. Thanks for reading.

Remember to Join the Group in Facebook!
TARC ACCA


[Source via] Forbes

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PTPTN Interest Rate Reduction

Now you can reduce your PTPTN interest rate from 3% to 1%. No longer have to pay 3% for your PTPTN. Apply your reduction via online!

STEPs:

Key in your Identification Card Number without the hyphen. And your email address, remember to fill in a VALID EMAIL ADDRESS because PTPTN will send you the application result.... You can not change the detail once you clicked "TERUSKAN" so make sure, double make sure your IC and EMail are CORRECT!!

Kindly refer to the table below just to make sure you are not fall into these catagories or your application will be rejected on the spot....Or you can give it a try =) 
I believe the table below shows us the respective date of interest rate reduction.

So APPLY NOW! DO NOT WAIT!!

TAHUN KELULUSAN PINJAMAN TARIKH MULA KEMASKINI
2006, 2007 dan 2008
20/9/2010
2003, 2004 dan 2005 01/11/2010
2002 dan tahun-tahun sebelumnya
01/12/2010

[Source]
http://www.ptptn.gov.my/web/guest/pembiayaan/tentatif-ujrah

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BIG Deadline

The deadline for you to submit your ACCA examination fees is this  

15 October 2010

If you've planned to take the ACCA Exam December 2010 then don't wait till last minute because the website will be very busy and unable to load so register now before 15 October 2010!


 
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External Auditor vs Internal Auditor

External Auditor
They exist to provide assurance to the shareholders and stakeholders (such as government) that the annual accounts are free from material error. The primary role of external auditors is to merely express an opinion on whether an entity's financial statements.

The external auditor ensure the financial statements are true and fair to represent the organisation's actual position and not to detect fraud. So do not confuse with fraud detection.

If they come across any fraud related information, it is their responsibility to bring it to the management's attention and consider withdrawing from the engagement if management does not take appropriate actions.

Normally, external auditors review the entity's information technology control procedures also known as audit through the system. Thus, Sarbanes-Oxley Act (SOX) imposes requirements for auditors' evaluation of internal controls and financial reporting.

Internal Auditor
Internal Auditor role is to provide the board of management assurance that the internal controls are in place to manage the risks faced or will be faced by the organisation.

The scope of internal auditing within an organisation is very broad and usually they involved in providing reasonable assurance regarding effectiveness and efficiency of operations, the reliability of financial reporting, deterring and investigating fraud, safeguarding assets, and compliance with laws and regulations.

After the audit activities, the internal auditor will prepare a report regarding on their findings. They will use the " 5 C's "
which are

1. Condition: What is the particular problem identified?
2. Criteria: What is the standard that was not met? The standard may be a company policy or other benchmark.
3. Cause: Why did the problem occur?
4. Consequence: What is the risk/negative outcome (or opportunity foregone) because of the finding?
5. Corrective action: What should management do about the finding? What have they agreed to do and by when?

The recommendations in the report will help the organisation to serve better to meet their visions and goals.

Source:-
1) External Audit
2) Internal Audit


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4 facts you need to know about Dreams

1. Dreaming can help you learn.
After you had studied 2 hours you can either just keep on reading for few more hours continuosly or take a nap! You'll learn better in dream! according to Harvard Medical School, when the brain dreams, it helps you learn and solve problems! Make sure you are having a noise-proof such as turn off your TV and radio.

2. You can have several or even a dozen of dreams in one night.
It’s not just one dream per night, but rather dozens of them! Our brains dream in every 90 minutes, so whenever you go to sleep you need 90 minutes before your brain starts dreaming. According to Loewenberg, the first dream has a duration of 5 minutes only but the last dream before you awake can last for 45 minutes to 1 hour.

3. You can linger in a dream after waking.
This is how you do it. Remain in the position you awake from dream, do not move a muscle because when you move your body, you will be disconnected from the dream you were in seconds ago. This is how you remember your dreams, and Deja Vu may happen because you dreamt about a similar situation or place and you felt like experienced it before in the past when actually is in your dream.

4. You can have Lucid Dream
Just like in the movie Inception, people can control their dream also known as lucid dreaming (means conscious perception of your state while dreaming). Not everyone has this skill but you can learn the skill as this can prevent you from having recurring bad dreams.

Related posts:-
1)Difference between GRE, TOEFL, and IELTS

2) Climb the Salary Ladder

3) Exam techniques


Source:-
1)8 Things You Didn’t Know About Dreams
2)Dream

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How to become a MIA member

It is crucial information for all Malaysian students who had taken accountancy field. Becoming a member of MIA probably is the ultimate goal for many Malaysian students who are undergoing professional papers or for those graduated student currently working at competitive public practice accounting firm.

However , MIA is stand for "Malaysian Institute of Accountant". As a member you will be enjoying a lot of benefits such as license to practice as a professional accountant in business or having the license as an approved auditor..... Of course there is another benefit which we will discuss it later on.....

One thing that we need to be aware of is that MIA do not recognise all of the accounting degree courses especially college level qualification such as advance diploma. Furthermore, when it comes to the process of applying MIA, you do need all the prescribe document MUST be certified true by either a MIA member, a Commissioner of Oaths, a member of parliament or a justice of peace. So now you know it might be coming handy when you know a lot of people along the way when you're in audit firm =)

Let's make it simple that most of the accounting students have the mind set that, after graduated from any universities and work in audit firm for 3 years probably will get recognised by MIA. The answer is "NOT NECESSARY"......

As abovementioned clearly that MIA will only recognise certain universities degree or professional qualifications such as ACCA, CPA, ICAEW, CIMA and etc..... However, MIA do provide their own qualifying examination for those who seek for alternative way to become a MIA member.....

Remember that 3 years working experience are still applicable.... But which industry will you go into?? Is there any restriction, or is it necessary to work at audit firm?? That we will talk about it next post...

For more detail on how to become a member of MIA or list of recorgnise degree courses by MIA kindly click on HERE

Credit:
Chris Choi

Related posts:-
1) MIA Requirements
2) Climb the Salary Ladder
3) ACCA Exam Techniques

4) Audit Partner License in Malaysia

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Difference between GRE, TOEFL, and IELTS

The difference between GRE,TOEFL and IELTS. All 3 of these tests will help you to gain admission into foreign English institutions (colleges and universities). The minimum requirement to enter into the institutions (colleges and universities). This is everything you need to know about GRE, TOEFL, and IELTS.

Firstly what is GRE? Well, GRE is Graduate Record Examination.

So who should be taking the exam? For those students who are pursuing Masters / PhD studies in USA (Except MBA courses as they require GMAT) required to take the general GRE test as this is the basic requirements to enter into majority USA colleges and universities.

Do you know what kind of test GRE is testing you? The GRE General Test will measure your language skill that is not related to any specific field of study. The GRE test has 3 sections to be completed within 4 hours.

• Analytical Writing — Measures critical thinking and analytical writing skills, specifically the test taker's ability to articulate complex ideas clearly and effectively. The writing consists of 2 parts:-
I. Analysis of an issue (45 minutes)
II. Analysis of an argument (30 minutes)

• Verbal Reasoning (28 Questions) — Measures reading comprehension skills and verbal and analogical reasoning skills, focusing on the test taker's ability to analyze and evaluate written material (you have 45 minutes).

• Quantitative Reasoning (30 Questions) — Measures problem-solving ability, focusing on basic concepts of arithmetic, algebra, geometry and data analysis (you have 30 minutes)

There is a limitation that is the number of times you can take for the exam is only once in a calendar month and a maximum of five times in a year.

The total maximum marks of GRE general tests are 1600.

The GRE score is only valid for 5 years; it is much longer than TOEFL (2 years) and IELTS (2 years).


TOEFL is known as Test of English Language as Foreign Language.

Who should be taking the test? TOEFL act as the basic admission requirement in foreign college and universities especially Canada and UK. It also help you to evaluate your English proficiency before commencing the English courses.

Do you know how the TOEFL will be testing on you? The test is around 4 hours and 30 minutes and you have 4 sections, where each of the sections must be completed within the time frame. There are Reading, Listening, Speaking and Writing sections.

The TOEFL test is offered in two formats: the TOEFL iBT, administered in an internet-based format, or the TOEFL PBT, administered in an internet-based format. The format you take depends on the location of your test center.

• The TOEFL iBT test is offered 30 – 40 times a year at more than 4,500 authorized test centers throughout the world. Most test takers take the internet-based test.

• The TOEFL PBT test is offered six times a year in areas where Internet-based testing is not available.

The limitation is the number of times you can take the exam is once in a calendar month and a maximum of five times a year.

What is the Maximum TOEFL Score?

The maximum TOEFL score is 677 for paper-based test and 120 for TOEFL iBT.

The score valid for TOEFL is 2 years same as IELTS.

What is IELTS? IELTS is the International English Language Testing System. The IELTS test takes 2 hours and 45 minutes. IELTS have 4 sections which are Listening, Academic Reading, Academic Writing and Speaking sections. The IELTS candidates are evaluated on a scale of 9 or 9 bands.

TOEFL, IELTS, GRE, GMAT
Source:-
http://www.ets.org/gre/general/about
http://www.ets.org/toefl/why
http://www.careermakers.net/
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Maybe Send an Email to Professional Body. Just Maybe??

When you face a failure in your papers taken in the last sitting, some of you will think of bunch of ways to get your feet right back up and fight again (go through the exam again and again) but of course there are some of you who will just give up and fight another day (take exam in next few decades).

There are a lot of stories I've been listening, some ACCA students had been taking the papers for the past 10 years and yet still couldn't pass, but in the end they passed, because they NEVER GIVE UP.

No matter how you plan for the exam, be sure to take it seriously! Don't listen to others (self-proclaim experts) about the ways to pass ACCA, because the only way to pass ACCA June and ACCA December exam is through SMART STUDY and HARD WORK and NO SHORT-CUT. There I've provided you the 3 ways to pass ACCA exam, be sure to use it for ACCA December 2010 exam.

Take a look at ACCA June 2010 exam passing rate, it is somewhat fair. Agree? If you didn't get through, well better luck next time!

A joke to cheer everyone up:-

Dear [Professional Body],

Re: Pass Your Exam
How much money do you need to take from me only will allow me to pass your papers?? I would pay it all right now just to get the papers pass in the next sitting. Kindly advise on the abovementioned matter.

Do leave me with your bank account number so I can transfer the fund to you.
Thank you.

Regards,
XXX


Thank you for supporting the blog. Hope you will continue support, just come visit and share your comments.

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ACCA June 2010 Exam Passing Rate

Reminder, the ACCA syllabus will be changed upon the year 2011. Read it here if you wish to know more of the changes.
The ACCA has done the collected the data and below is the list of ACCA June 2010 Exam Passing Rate:-

June 2010 session CAT pass rates:


Paper 1, Recording Financial Transactions, 63%*
Paper 2, Information and Management Control, 63%*
Paper 3, Maintaining Financial Records, 66%*
Paper 4, Accounting for Costs, 59%*
Paper 5, Managing People and Systems, 38%
Paper 6, Drafting Financial Statements, 79%
Paper 7, Planning, Control and Performance Management, 30%
Paper 8, Implementing Audit Procedures, 28%
Paper 9, Preparing Taxation Computations, 62%
Paper 10, Managing Finances, 61%

June 2010 session ACCA Qualification pass rates:

Paper F1, Accountant in Business, 64%*
Paper F2, Management Accounting, 54%*
Paper F3, Financial Accounting, 60%*
Paper F4, Corporate and Business Law, 51%
Paper F5, Performance Management, 57%
Paper F6, Taxation, 46%
Paper F7, Financial Reporting, 28%
Paper F8, Audit and Assurance, 36%
Paper F9, Financial Management, 43%
Paper P1, Professional Accountant, 53%
Paper P2, Corporate Reporting, 47%
Paper P3, Business Analysis, 51%
Paper P4, Advanced Financial Management, 34%
Paper P5, Advanced Performance Management, 44%
Paper P6, Advanced Taxation, 35%
Paper P7, Advanced Audit and Assurance, 32%

* Combined pass rates for paper-based and computer-based exams.
Source:-
ACCA Website

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9 New Careers Emerged!

These careers were not found in the past generations until now....
Have you gave up becoming a blogger? Because right now it is one of the HOT CAREERS emerged!


Business related field
A specialized business degree can help you obtain the skills you need to work in one of these professions.

1. Business continuity specialists plan and implement recovery solutions to keep businesses functioning during disasters and emergency situations.

2. Electronic commerce specialists analyze online buyers' preferences and handle online sales strategies, including marketing, advertising, and website design.

3. Social media managers/strategists use social technologies like Facebook to reach out to customers, and they build social networks within companies.

4. Virtual concierges provide professional concierge services--for business or personal needs--with the convenience of being just an email away.

5. User experience analysts collect data on website usage and provide insight about users' experiences by using psychological, computer-science, and industrial-design knowledge to test theories and draw conclusions.

____________________________________________________
Communications related field
Rising numbers of college communications programs are offering instruction that can lead to one of these cutting-edge jobs.

1. Bloggers research and write blog content for news websites, public and private corporations, government offices, and many other organizations with blogs.

2. Content managers develop strategies for creating, updating, and organizing Web content, typically with the goal of attracting new visitors.

3. Online political campaign managers develop and manage strategies for using Internet and social technologies to help politicians get elected.

4. Video journalists design and produce online videos that document information, news, and events.

Full article at Yahoo!

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ACCA Change of Syllabus 2011

The plan to update ACCA Qualification syllabus is finally commencing, starting June 2011 and December 2011. All these changes being made syllabus up to date is and restructure to meet the employer and student needs. The new changes will be omre adaptive to the latest business and accounting sector needs.

Check out the coming changes made in June 2011:-

Paper F6 (other variants such as MYS variant)
See text detail in Fundamentals level syllabus changes
Effective date : June 2011

Paper F7 (INT)
To introduce more legal/regulatory information on financial reporting of groups
Effective date : June 2011

Paper F8 (INT and UK)
To make more explicit areas included in examinable documents within the syllabus and remove some aspects of risk planning.
Effective date : June 2011

Paper F9
Introduction to Islamic finance added in relation to sources of finance, to keep syllabus relevant and up to date
Effective date : June 2011

Paper P1
More emphasis on coverage of business risk in response to employer stakeholder survey findings
Effective date : June 2011

Paper P2(INT)
More coverage of accounting treatment of SMEs, the circumstances in which consolidated accounts are required or exemptions and capital reconstructions.
Effective date : June 2011

Paper P3
Aspects of forecasting, budgeting, cost accounting and decision making, relevant to business analysis introduced, to provide more scope for a financial context within exam scenarios. Quality Section and performance aspects of HR management removed to Paper P5 to address overlaps.
Effective date : June 2011

Paper P4
Re-arrangement of syllabus and better re-alignment with Paper F9. No significant areas added but some removed to provide more coherence.
Effective date : June 2011

Paper P5
Syllabus developed to align better with Paper F5 and to reduce potential overlap with P3, particularly in the Quality and Performance management and measurement areas of HR.
Effective date : June 2011

Paper P6(other variants such as MYS and INT)
See detail in Professional level syllabus changes above.
Effective date : June 2011

Paper P7(INT)
The internal audit area has been amended. Aspects of practice management, assignments and reporting have been removed.
Effective date : June 2011

For more info about F1, F2, F3, F4, and F5 do go read it at ACCA website

Disclaimer : The owner of the blog do not own any of the information provided. This is merely to share the information to the public. All credits go to ACCA Global. For more info please visit ACCA Global

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ACCA June 2010 Exam Results

A lot of searches lately regarding the ACCA June 2010 Exam Results release date. Are decisions will be made upon the release of ACCA Exam Results? So to clear off the question, ACCA had announced the release date, it's next Monday 23 August 2010.

For those of you who had opted receive result via email, you will get your result in your inbox. You have until 12.00 BST on Friday 20 August to subscribe. Be sure to check your inbox on 23rd of August 2010.

Those who had taken ACCA June 2010 exam, brace yourself for the result is coming soon!

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Business And Finance Hot Jobs

Business and Finance

Accountants and Auditors: $67,430
Accountants and auditors examine, analyze, interpret, and prepare accounting records and can work in a variety of settings. The anticipated employment growth indicates that each year 49,750 jobs will be available, with a 30 percent increase in total positions.
Financial Examiners: $70,930
Financial examiners ensure and enforce compliance with laws and regulations pertaining to financial, securities, and real estate transactions. With increased awareness of fraud and the need for regulatory compliance, financial examiners are set for an estimated 41 percent increase in total employment, with over 38,000 positions by 2018.

Personal Financial Advisors: $68,200
Personal financial advisors assist clients by determining and preparing to meet each client's financial goals, including investment strategies and retirement planning. This field can expect to see a 30 percent increase in employment, with over 60,000 positions being created in the next eight years.

General and Operations Managers: $91,570

General and operations managers are responsible for planning, directing, and coordinating the operations of public and private companies. While the employment growth is expected to be low, the yearly outlook is good, providing 50,220 job openings.

Management Analysts: $84,650
Management analysts study, evaluate, and implement procedures and policies to help management perform efficiently and effectively. Because management analysts can help companies operate more efficiently (and therefore become more cost effective), this position is in demand and should see a 24 percent increase in employment, with 30,650 job openings.

[Via Yahoo!]

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Climb The Salary Ladder

Career #1: Marketing Research Analyst
Starting Salary: $38,431*
Potential Salary: $88,761**

Marketing research analysts help companies figure out how people think and use their knowledge to boost sales. If you have an inquiring mind, this just might be the job for you.

How To Climb The Salary Ladder


1. Start by earning a bachelor's degree. Business, marketing, and consumer behavior programs can give you the knowledge necessary to take those first crucial steps up the ladder, according the U.S. Bureau of Labor Statistics (BLS).

2. Gain experience assisting marketing supervisors and show how great you are at collaborating with others. This will help lead you to independent research projects, where the increased job responsibilities could bring increased salary potential.

3. Once you've established yourself as an experienced marketing research analyst, additional degree work, such as a master's degree, or certification from the Marketing Research Association, can help you advance to even higher paying jobs in the field. Supervisory and teaching positions are among the most well-paid analyst positions to set your sights on.

----------------------------------------------------

Career #3: Financial Analyst
Starting Salary: $35,474
Potential Salary: $100,293

Businesses and individuals rely on financial analysts to guide them along the path of sound investment decisions. If you're looking to enter a field that offers increased financial rewards throughout your career, this is the job for you.

How To Climb The Salary Ladder


1. Get your foot in the door with an entry-level position by earning a bachelor's degree. Applicable areas of study include accounting/finance, business, statistics, and economics.

2. To climb up the career ladder, look into certifications. A Chartered Financial Analyst (CFA) designation, sponsored by the CFA Institute, helps analysts who want to specialize in certain areas, such as risk management.

3. If you want to reach the upper salary levels of this position, you will need to get promoted into a position where you're responsible for larger or more important products. Consider supervising teams of analysts or becoming a portfolio/fund manager.

--------------------------------------------


Career #5: Computer Systems Analyst
Starting Salary: $42,079
Potential Salary: $125,759

Businesses utilize analysts to direct and troubleshoot their computer and information technology (IT) systems. They also might either design new computer systems or develop ways to improve and expand existing systems.

How To Climb The Salary Ladder

1. Employers generally prefer candidates with a bachelor's degree in a technical field like computer science, information science, applied mathematics, or engineering.

2. Once you've broken into the field, show you can keep up with computer technology - and position yourself for promotions - by taking additional training courses provided by your employer, outside vendors, and schools.

3. As a lead analyst, your experience and leadership skills can put you in line for a promotion to information systems manager or an executive position, such as chief information officer. Six-figure salaries are not uncommon at this point in your career.


Via Yahoo!
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