Archive about 'Others'

ACCA EXAMINATION SYLLABUS ( Updated: July 2007)

ACCA OVERALL EXAMINATION SYLLABUS Fundamental Level: F1 Accountant in Business AB F2 Management Accounting MA F3 Financial Accounting FA F4 Corporate and Business Law CL F5 Performance Management PM F6 Taxation TX F7 Financial Reporting FR F8 Audit and Assurance AA F9 Financial Management FM Professional Level: P1 Professional Accountant PA P2 Corporate Reporting CR [...]

Revision Study Tips

Extracted below are some examination tips:- Revise thoroughly The best way is to practise as many relevant past exam questions as possible, answering the questions in full and spending time learning from the solution. Prepare summary notes Using summary notes can help to achieve exam success. For each exam, prepare notes covering the most important [...]

Basic Examination Technique

PREPARATION To be successful in accountancy examination, it is very important that the following cardinal rules should be mastered: You must acquire a thoroughly sound knowledge of double entry book-keeping; Always, try to understand why things are done. Incidentally, accounting is still a logical science. With the proper grasping of the underlying principles, concepts, rules, [...]

Revision Notes: Depreciation Of Fixed Assets

Revision Notes on Depreciation Of Fixed Assets   Salient points: 1.  Understand WHAT is depreciation & REASONS for depreciation: Depreciation is the permanent and continuing diminution in the quality, quantity or value of an asset. Simply, depreciation is the loss of value due to fixed assets being consumed in order to earn a profit. Therefore [...]

Ethnical Conducts And The Management & Financial Management Accountants

Extracted from the www: imanet.org are some guidelines pertaining to ethical dilemmas. These standards are in the areas of competence, confidentiality, integrity and objectivity for those practitioners of management accounting and financial management By understanding the below guidelines, it is hoped that readers who aspire to be future accounting practitioners know that they have heavy [...]

Revision Notes On Cost/volume/profit (CVP) relationships and break-even analysis.

Understand what is Cost/Volume/Profit Analysis and Breakeven Analysis Cost-volume-profit (CVP) analysis studies the effects on future profit of changes in fixed costs, variable costs, volume, sales mix and selling price. Remember what is Break-even (B/E) analysis 1.   In fact Break-even (B/E) analysis is one application of CVP. B/E analysis is useful for profit planning sales [...]

Revision Notes On Incomplete records

Understand What Is Incomplete Records: Incomplete records – is the term used for any system of bookkeeping which does not use full double entry. Generally applies to small business whether incorporated as Sole Proprietorship or Partnership. For them, generally a simple cash book to record receipts and payments may be enough instead of the proper [...]

Difference Between Financial Accounting And Management Accounting

This article seeks to explain the main difference between financial accounting and management accounting. DIFFERENCE NO 1: Financial accounting Management accounting Principal objectives Stewardship of business for benefit of shareholders Seek to improve economy, efficiency and effectiveness of operations As we know Financial accounting mainly focus on periodic reporting of accounting information, as required by [...]

Careers In Accounting: A Survey Of The Top Ten Most Important Work Activities Performed by Accountant

Do you know that Accountants whether he or she is a Financial or Management Accountant can contribute a lot to the organization? There are many critical tasks that can be performed by the aspiring Accountants which are tabulated below: Top Ten Most Important Work Activities Performed by Accountants 1.   Accounting systems and Financial Reporting 2.   Long-Term [...]

Revision Notes: Financial Statements

Revision Notes on Financial Statements: Salient points: 1.  Understand WHO reads the financial statement         Equity Investor group, loan creditor group, employee group, analyst-adviser group, business contact group, government and public group 2. Understand the users’ PURPOSE of reading the financial statement         Assess the stewardship of management on the use of the economic resources [...]