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Pakistan going mainstream in IT products
Pakistan now has its VERY own + ebook reader to read on, + a tablet PC to stay mobile and + a notebook to work on! Commercial Products Manufacturing Cell (CPMC) a join venture of Pakistan Aeronautical Complex Kamra (PAC) and INNAVTEK has launched IT products for the first time in Pakistan starting with PAC PAD 1, PAC eBOOK [...]
![10 Most Popular Questions of the week [January 15, 2012]](http://pakaccountants.com/wp-content/uploads/2011/04/top-10-qna-of-the-week-300x297.png)
10 Most Popular Questions of the week [January 15, 2012]
i-ask! | Have a question? Ask Tutor! Another exciting week ended with lots of interesting questions answered. But every week we list down the top 10 questions which our dear visitors liked very much. So here is the list of top ten favourite questions answered for the week ended January 15, 2012 // Top 10 [...]
Understanding changes in ACCA/FIA exam format by December 2011
// After the introduction of Foundations in Accountancy (FIA) – suits of qualifications, many important things have gone under the change phase and the most affected under ACCA qualification are the knowledge module exams i.e. ACCA F1, ACCA F2 and ACCA F3. This ASK TUTOR SPECIAL episode will be about understanding the changes in exam [...]
10 questions to ask yourself before you start SELF STUDY
Deciding whether to do self-study or to get a professional help is not easy.Situation becomes tense even more when it involves professional qualification and you are already in your professional life. To help you make the right decision whether you can do or should do self study, we discussed with students and teachers to understand [...]
FIA | Foundations in Accountancy – Suit of qualifications by ACCA
Foundations in Accountancy is NOT just a new certification instead it is a whole new suit of qualifications all set to include Certified Accounting Technician (CAT) under its umbrella. This whole suit is subdivided into three certificates and a diploma. // So here we are with yet another innovation of “ACCA LABS”, Foundations in Accountancy [...]
ACCA announced changes in study guides for 2012
Although ACCA has announced the changes in syllabus guides of several ACCA subjects back in October 2011. However, not many are aware of such changes. As 2012 has approached, it will be good if the changes in the syllabus guides of relevant subjects are reviewed and preparation tactics are fine tuned accordingly. Although the changes [...]
What is Performance materiality?
i-ask! | Have a question? Ask Tutor! Please explain to me Performance materiality in simplest possible words. I can understand materiality easily but this new concept is difficult for me to understand. Easy to understand examples with explanation will make understanding easy for me // Since the the concept of materiality at application level has [...]
How to prepare ACCA 2011 exams? – POWER POINTS
We have received numerous requests for writing about How to prepare for ACCA exams? And few subjects are requested many times. Even though there is no particular success policy that can ensure pass in an exam still doing the right thing at the right time and considering experience of teachers and students will definitely put [...]
Understanding Throughput Accounting
The following article is relevant to all the subjects related to Cost Accounting especially with Throughput accounting as part of their syllabus. For example, ACCA F5. Though this article is written keeping ACCA F5 syllabus in consideration, it can be used by the students of other professional qualifications as well. // ACCA F5 students, especially, [...]
5 things that Pakistani ACCA students are doing VERY Wrong!
Every ACCA student in Pakistan wants to have a future full of success. But large number of students is also worried and are asking whether they made the right choice. But are we really giving this its due importance and really using our minds? Here are the FIVE mistakes that we found much common among [...]
ACCA
- Can auditor agree to change the terms of audit engagement after initial acceptance during engagement?
- What is meant by Significant Matters in auditing?
- How can auditor overcome inherent limitations of an audit engagement?
- Why auditor cannot provide Absolute level of assurance in audit engagement?
- What is meant by Sale or Return?
- What is revenue recognition and accounting treatment for goods sold or sent on sale or return basis?
- How WWF and WPPF amounts are calculated?
- What factors are considered in determining useful life of intangible asset?
- Is Residual value of the asset calculated on Present value or Future value basis?
- What is meant by Audit evidence?
CA
- Why impairment of goodwill is not reversed?
- What is meant by Economic benefits and how they flow to the entity?
- How Goodwill is an asset?
- Why amortisation of goodwill is not permissible?
- What is Depreciation?
- What is the difference between General Journal and General Ledger?
- What are different causes of Depreciation?
- What type of accounts are maintained under Purchases ledger?
- What is the difference between Purchase ledger and Purchase account?
- What is french straight line method of depreciation?
CAT
- What is ‘Declining balance to Straight line crossover’ method of depreciation?
- What is meant by ‘lowering detection risk’ in auditing?
- What is meant by ‘net of’ in accounting or tax and other business related subjects?
- How preparing statement of cash flows is different under IFRSs and GAAPs?
- How a liability paid in kind or by issuing shares is disclosed in statement of cash flows?
- Which method is preferable to prepare Statement of Cash Flows?
- What transactions are adjusted in profit or loss to prepare statement of cash flows under indirect method?
- How a loan repayment is disclosed in statement of cash flows?
- How interest and dividends are disclosed in statement of cash flows?
- Is audit an attestation engagement or direct reporting engagement?
FIA
- What is meant by Assertions in audit or auditing?
- What is assurance engagement?
- What is an Assurance engagement in auditing?
- What is meant by Depreciation?
- What is NIFO inventory valuation method?
- What are different inventory valuation methods?
- What are Real accounts and what is the related ledger and the accounting rule?
- What is the recognition criteria for subsequent expenditures incurred on non-current assets?
- Can we capitalize material relocation expenses incurred on non-current asset?
- Is depreciation expense a fixed cost or a variable cost?