ACCA Exam Tips

Good morning,


2.1 Preparation Tips

Except for core papers, research the optional papers before deciding. Now, people normally would decide papers based on their job specialization. For example, if you are doing accounting & tax, you would take P6. I don't actually recommend this practice because be reminded the new ruling is 7 years to complete P papers, it might seem to be enough but I have seen people failing P-level paper (single) for numerous times, including myself : ) . So, just pick the option papers that you are confident with. Also, dont be afraid to switch papers but this need to be use with EXTREME CAUTION, I dont want to be held responsible. So, dont quote me on that.

After deciding what to sit, prepare your resources.The most critical resources are listed below:

1. Study text (backbone of your study material) - BPP (highly recommended), Kaplan and GTG also not bad. But it seems like GTG is shrinking, I used to like their P3 and P7 books.

2. Revision Kit (A must for practice) - BPP (highly recommended). I have never used other publisher. So, cant comment.

3. Your own personalized notes - depends on your style, I like to do my own summarized notes based on study text because I dont want to freak myself out during exam by seeing the wall of text.







Another important preparation is to know the examiner, you need to know your enemy before going into battle. Few ways to know your examiner, read examiner comments which can be found in ACCA web, read all the technical articles, surf opentuition.com (some top students will post tips there) and discuss with friends who have pass their papers recently.


2.2 Study tips


Consistency, study with consistency. I can say this, last minute study in ACCA will not work. Consistency here means, every week, you must be putting some input into your brain.

Usually, my plan is to familiarize a subject in the 1st - 3rd month. Then, 4th and 5th is usually practice and fixing weaknesses and loopholes.

Create your own personalized notes, making use of abbreviation, mnemonics, mind mapping and other study techniques you are comfortable.

After familiarizing, make sure you practice past year questions and ample practice via revision kit (at least 70% of the total questions).

Besides practice, you need to recall your subjects regularly. That's why you need a summary notes because P-level is very memory, fact-driven and theory intensive. Just like P5 examiner said, equivalent to a Master's degree with the exception you are writing your thesis in the exam hall with a time constraint of 3 hours 15 minutes. So, your research and inputs must be stored in your brain before exam : ) .




2.3 Exam tips


Exam tips is more towards health.

1. One week before exam, relax, exercise, go for movies. Don't let issues affect your emotional state. If you are in a relationship, tell your gf/bf to gtfo for the week or two until exam is done. Healthy mind, physical and emotion are important.

2. Before exam, I highly recommend avoiding caffeinated drinks because you are going to feel exhausted after 2 hours consuming caffeine. Highly recommend drinking FRESH FRUIT JUICES, good energy booster especially when you need to write a lot to increase your chance of passing.

3. Please go to web and research food to avoid before exam, oily & fatty foods for instance.

4. Attempt all questions. You need to try your best to attempt all questions even if you aren't confident. Markers can't award marks if answer scripts are blank.



These are mostly the tips I used to employ. So, if i recall anything, I would update again. Thanks for reading and Good Luck to you. Please share if you find this helpful.

Credit to: Binary Teo

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Enter your email address:


Delivered by FeedBurner

......Continue Reading.....

A good sleep before exam

1) Myth: Your brain rests during sleep.

Fact: Your body rests while you snooze, but your brain is pretty busy consolidating memories and cognitive function. Sleep is also thought to give neurons used while we’re awake a chance to shut down and repair themselves so that they can continue to function normally. But awake or asleep, the brain is on the job. You’re still breathing, aren’t you?

2) Myth: The more sleep, the better.

Fact: Getting too much—or too little—slumber is linked to higher rates of diabetes, high blood pressure, and heart disease, reports Harvard Medical School’s Division of Sleep Medicine. Also concerning is a 2009 study from Spain, which found that adults age 65 or older who typically slept nine hours or more (including naps) were at higher risk for dementia. And other research has suggested that habitually sleeping nine hours or longer is associated with depression, illness and accidents. Conversely, regularly snoozing less than six hours a night is a risk factor for obesity, which in turn can lead to a long list of health risks, including diabetes, high blood pressure and heart disease. For optimum health, aim for 7 to 8 hours of sleep.

3) Myth: If you can’t sleep or you wake up during the night, it's best to relax until you fall asleep.

Fact: Not being able to fall or stay asleep is a symptom of insomnia. Sleep experts say your best bet is to get up after 15 or 20 minutes, go into another room and listen to music or read until you feel drowsy.

4) Myth: Taking prescription sleeping pills is a path to addiction.

Fact: According to the National Sleep Foundation, today’s sleeping pills taken as directed are safe and effective treatments for insomnia and present a lower risk of dependency than yesterday’s medications. (Exception: individuals with a history of addiction or alcohol or drug abuse.) Just be sure that you can sleep for 7 to 8 hours before you swallow the pill.

For the rest of 4 myths(is there such thing as beauty sleep? Is it good to read or watch TV before sleep?) go visit source via Yahoo! 8 sleep myths by Lisa Collier Cool on Dec 08, 2011
IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

RECESSION PROOF – TEN HOT CAREERS

LET'S FIND OUT IF YOU ARE IN THE LIST, OR ARE YOU JOINING "ON THE WAY OUT" JOB


Created by: Online Graduate Programs


IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################

Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

Break the CONFORMITY!

This is a speech given by Datuk Vincent Lee at UTAR today. He is Star Publications Bhd executive deputy chairman and author for his book "Why 'Stupid' People Get Richer." In his book, the STUPID people is referring to those people who weren't so smart in class however they end up driving luxury cars and living in bigger house!

The most important juice of his speech is this sentence:-
To be successful in this world, we simply need to break all the rules. It means you must avoid "conformity" in the business world and you must be brave enough to break the rules of engagement. There's more advice given, read on.

#1. “Stupid” people don't follow formulas. Time and time again, we see street fighters defeat karate or kung fu masters in a brawl. Competitive economies require intuitive decisions to be made. “Smart” people think too much. Act too little. They suffer from what golfers call analysis-paralysis.

#2. Case studies are not to be followed. By the time the case studies are written and published, they are already outdated. We all know that success stories are post-analysed and post-rationalised to suit the strategies.

#3. To win, you need to be insightful and be led by blind faith. When successful, write a book (and claim it was foresight!)

#4. Never chase after money. Instead, chase after dreams! “Winners' are men and women who made the leap from facts into the realm of the imagination. Contrary to popular belief, money does not make money. Only having an idea of what to do with the money makes more money, just like how bankers make money from innovators.

#5. Speaking of chasing after money, choose to mix with people with ideas and not people with money. Rich people NEVER part with their money.

#6. When in pole position, act like a challenger. What it means is that when you are leading the pack, think you are number two. Keep running. When you are challenging, act big! Think and act like you are number one in the pack.

#7. The 51-49 rule. If you think the chances of success are no less than 51%, just do it. There are no fail safe ideas. It is better to learn to ride on three wheels than never be able to ride at all. Don't wait until the four wheels arrive and then only start moving. Take your risks now. As you get older, you will tend to be more fearful, and less flexible. The bottom line is you can't be afraid to fail.

TheStar, brilliant speech given by Datuk Vincent Lee

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

Here's how Money Laundering is done

I just read this article from PQ Magazine, it is really interesting and creative about how the money laundering is being done when you know the loopholes.... Read what Paul Merison has to tell you, you'll know how it's done!

Paul Merison looks at how society in general and accountants in particular can help combat money laundering – and stay on the right side of the law

HERE'S HOW IT IS DONE:-
Last night I stole $25m from a bank, all in coins – because coins have no serial numbers on them so they cannot be traced, unlike banknotes. I am a criminal, and society needs to catch me. So let’s see if we can design some laws, regulations and procedures to stop me and put me behind bars.

Lesson 1 Society should put rules in place to make sure that whenever someone opens a bank account, they are required to explain the source of their money. Now that I know I will be asked annoying questions, maybe I won’t go to a bank. I will just go and pay for everything in cash. A bit annoying to carry it around with me, but at least I won’t get caught.

Lesson 2 Businesses should not accept cash payments for any large purchase. OK, I need a bank account then. But the bank will ask where I got the money, and I don’t really want to tell them that I stole it. I need a cover story. I know – I will set up a company. Then I can put the money into the company bank account, a little bit at a time, and say I am selling my products. I will have to spend money on an office, buy some equipment, and even sell real products just to make it look like a proper company. Then all I need is a few fake sales invoices, pass the cash into the company bank account, then pay myself dividends at the year end.
Actually, buying and selling goods is complicated – maybe a service sector company is better. I know – a launderette! Everyone pays in coins, so I can gradually put the coins into the machines and say that customers came and washed their clothes.
My profits will be taxed, which is annoying, but if my launderette can turn $25m of ‘dirty money’ into $10m of ‘clean money’ that I can spend easily, that is not a bad result.

Lesson 3 How can accountants try to help find the crooks? Accountants and auditors can play a vital role, using some business common sense (and some analytical procedures).
Go and visit this launderette and see how busy it is – does this match the sales figures they are reporting? Do the washing machines look like they are being used as much as the sales figures suggest? Are they getting repaired much, or being replaced? Or do they still look brand new?

Of course, I am a clever crook, so if I know you are coming to visit I will arrange for some of my friends to be doing their washing – and I will run the machines all day long so that they start to look old and heavily used. And if you say anything that makes me think you suspect me, I can create some more fake evidence, or just run away.

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

Sitting is KILLING YOU!

To find out how Sitting is gonna get yourself killed, continue read this! It's gonna be worthwhile~

So do more standing and walking, and reduce sitting down so often!

Via: Medical Billing And Coding

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

Speaking + Writing = Good Job

In recent years, we are getting a lot of complaints from Corporate leaders regarding our English standard, it is getting better poor as the years gone by.

I remember when I was in secondary school, my Form 5 English teacher kept on nagging and nagging advising us to READ & READ & READ regardless of what materials because when you read you will get the idea of good English command.





Here's a list of what to read:-

1) Read dictionary to expand your vocabulary

2) Read novel / magazines / storybooks to improve writing (because they tend to put in description of scenery and environment)

According to a recent Malaysian Employers Federation (MEF) survey, it is the most important trait employers look for when recruiting graduates.

The MEF Salary Survey for Executives 2010 revealed that

(1) 68% communication skills as the top quality required in job applicants;
(2) working experience (67%),
(3) interpersonal skills (56.2%) and
(4) passion and commitment (55.7%).

MEF executive director Shamsuddin Bardan said globalisation had changed the nature of jobs, making communication skills, specifically in English, a valuable asset for today's worker.

So now writing isn't enough for the corporate world, you need to be fluent in your English too. There is no other way to practise your speaking except SPEAK ENGLISH WITH PEERS AND FRIENDS.

TheStar

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

Crowe Horwath the 5th largest Accounting Firm

Crowe Horwath, Malaysia's fifth largest accounting firm, has increased its offices in the country by 4 to 12 locations with the merger of Hii & Lee, together with Kenny Chong of Tong & Chong Partners.

More details:-
(1) Hii & Lee, one of the leading accounting firms in Sarawak has operations in four major cities and towns in the state, namely Miri, Bintulu, Sibu and Kuching.

(2) Tong & Chong Partners has office in Sarawak.

The merger will see Crowe Horwath being established as one of the top firms in Sarawak with global resources and strategic competencies in audit, tax and advisory to serve Malaysian clients with national, regional and global needs.

During the ceremony, Chief Minister Tan Sri Abdul Taib Mahmud's speech saying "Firms that are in full compliance with the ISQC-1 and passes the scrutiny of the Malaysian Audit Oversight Board will certainly establish themselves as premium firms that the business community can confidently engage to provide competent professional services."

Source:-
1)TheStar
2)Business Times
IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:

Delivered by FeedBurner

......Continue Reading.....

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

IF you think this post is worth reading? Then please BOOKMARK and SHARE it with your FRIENDS. Thank You! #####################################################
HELP us Link to this blog:
<a href="http://tarcafa.blogspot.com">TARC AFA Blog</a>
Do you like this blog? SUBSCRIBE NOW!

Enter your email address:


Delivered by FeedBurner

......Continue Reading.....