ACCA December 2007 Exam Tips

ACCA December 2007 Exam Tips
WARNING: Use the tips as areas to have a good look at, but remember that no-one knows what’s in the exam except the examiner. Revise everything

F5 - Performance Management

BPP
■ Decision-making techniques – linear programming, relevant costing, pricing, risk &
uncertainty
■ Budgeting - possibly focusing on conflict between techniques such as incremental or ZBB
■ Performance measurement and control: ROI/RI,transfer pricing, financial and non-financial measures
■ Variance analysis
■ Management accounting techniques:target/lifecycle costing

Marcus Evans
■ Decision-making under uncertainty
■ Linear programming
■ Relevant cost decision-making
■ Planning variances
■ Budgeting and forecasting techniques,eg zero-based budgeting
■ Interpretation of performance indicators

F7 - financial reporting

Marcus Evans
■ Group accounts - including associate
■ Published accounts - from TB (including:
revaluation of NCAs, finance leases, deferred tax)
■ Cash-flow and analysis/interpretation
■ IASB framework
■ Provisions
■ EPS
■ Construction contracts
■ Intangible NCAs
■ Impairment


BPP
■ Consolidated income statement (P&L) and/or balance sheet
■ Accounts preparation/restatement with adjustments
■ Interpretation and/or cash flow statement
■ Theoretical/conceptual question

F8 -Audit and Assurance

Kaplan
■ Ethics - objectivity, conflicts of interest
■ Planning - identifying and explaining/addressing risks in a scenario
■ Internal controls - weaknesses and recommendations
■ Audit evidence - substantive tests, sales and debtors
■ Completion - overall review
■ Internal audit - role, reliance by external auditors

Marcus Evans
■ Ethics/independence - with conflicts of interest
■ Identification of audit risks (scenario-based)
■ Internal controls - computerised system (payroll or purchases)
■ Substantive testing - covering a number of items
■ CAATs
■ Corporate governance (including role of internal auditor)
■ Management representations
■ Fraud
■ Appointment/removal
■ Analytical procedures

BPP
■ Audit procedures such as revenue and receivables, purchases and payables or inventory
■ Internal controls, the auditor’s use of computer assisted techniques
■ Audit ethics
■ Audit risk
■ Corporate governance and its links with either internal or external audit
■ Internal controls, possibly with requirements in the style of a ‘report to management’







F9 -Financial Management

Marcus Evans
■ Working capital
■ Investment appraisal and cost of capital
■ Sources of finance including capital structure implications
■ Valuations

P1 - Professional Accountant

BPP
■ The purpose and aims of good corporate governance, together with an appreciation of the relevance of different approaches (rules or principles)
■ Aspects of the combined code or Sarbanes-Oxley, even a comparison between the two
■ Identification and assessment of all aspects of business risk, using a methodical approach to identify, categorise and assess the array of risks facing an organisation
■ Internal control systems and their review by internal audit and the board
■ Professional values and ethics, using the array ethical theories and frameworks in the syllabus,with emphasis on the role of the professional accountant
■ Corporate social responsibility and environmental management systems

P2 - Corporate Reporting

Kaplan
■ Group accounts - foreign currency or cash flow
■ Accounting standards set in a case study environment, including impairment,
financial instruments, pension, retirement benefits
■ Discussion - conceptual framework

P3 - Business Analysis

BPP
■ Assessing options for growth
■ E-marketing
■ Software packages
■ Change management
■ Six sigma
■ Project management





P4 - Advanced Financial Management

Kaplan
■ Business valuation through acquisitions
■ Foreign exchange hedging
■ Investment appraisal and risk
■ Cost of capital and sources of finance
■ Advantages and disadvantages of listing and corporate objectives

P5 - Advanced Performance Management

Kaplan
■ Corporate failure
■ Performance improvement strategies
■ Value-based management approaches
■ Environmental management accounting
■ The changing role of the management accountant in today’s business environment

P7 - Advanced Audit & Assurance

Kaplan
■ Audit risk assessment and management
■ Matters and evidence
■ Professional conduct and ethics
■ Reporting

擁有朋友是一件多麼幸福的事

有一種朋友，需要天天見面，事事關聯，或許，
常常磨擦---為了〝圓融相處〞，
讓自己的缺口被對方填滿，更適合〝膩〞在一起...

另一種朋友，很長一段時間見一面，
像週期性的拋物線，
今年談去年見面的情景或年年談第一次交叉線的悸動，
百說不厭！衝突，從來沒有存在過；
思念，卻習慣性的出現在某個季節。

也有朋友，很少見面，靠默契、靈通...第六感，
總給對方需要的激動、感動...甚至心動的感覺，
期待每次的心電交流，
哪怕只有在E-Mail、平信、問候的電話，都令人興奮不已。

第一類朋友是『依賴』
第二類朋友是『慣性』
第三類朋友是『緣定』

友情釀的酒，比地窖裡的女兒紅香醇可口，入喉令人陶醉。
你知道一生中有多少陌生人曾與你擦肩而過？
而朋友是多麼可貴啊！
擁有朋友是一件多麼幸福的事...

還有一種朋友就是每天會傳信，
不灌爆你信箱絕不罷休的

讓你每天一大早就知道，這個世界上還有一個朋友記得你
當信件被退回時，他就知道你休假了，要不然就是換公司了
不過，是一種被記得的溫馨......

To My Friends Who Are...........SINGLE
給我單身朋友們
Love is like a butterfly. The more you chase it, the more it eludes you. But
愛就像一隻蝴蝶。越要追牠，卻越要逃避。
if you just let it fly, it will come to you when you least expect it. Love can
如果就隨牠自由的飛，牠會在你最不注意時飛向你。
make you happy but often it hurts, but love's only special when you give it
愛使人快樂，卻常傷害人。但只有在你把愛給了一個真正值得付出的人時，是最珍貴的。
to someone who is really worth it. So take your time and choose the best.
所以，花點時間去選擇最好的他/她吧

To My Friends Who Are............NOT SO SINGLE
給我那不是單身的朋友們
Love isn't about becoming somebody else's "perfect person." It's about
愛不能使他/她成為一個"完美的人"
finding someone who helps you become the best person you can be.
它卻可以使你找到一個幫你成長的他/她

To My Friends Who Are............PLAYBOY/GIRL TYPE
給我玩世不恭的朋友們
Never say "I love you" if you don't care. Never talk about feelings if they
如果你不在乎，不要說"我愛你"。如果他們不在時，不要討論自已的感受
aren't there. Never touch a life if you mean to break a heart. Never look
不要涉足會使他人心碎的生活。
in the eye when all you do is lie. The cruelest thing a guy can do to a girl is
說謊時，不要看著眼睛。
to let her fall in love when he doesn't intend to catch her fall and it works
最殘忍的事莫過於男人讓女人愛他，卻是逢場作戲。反之亦然
both ways...

To My Friends Who Are............MARRIED
給我已婚的朋友們
Love is not about "it's your fault", but "I'm sorry." Not "where are you",
不要老是說"這是你的錯"，何不說說"對不起"。
but "I'm right here." Not "how could you", but "I understand." Not "I
不要老是問"你去哪裡了"，何不說說"我就在這兒等著你"。
不要老是問"你怎麼會這麼作？"，何不說說"我了解你"。
wish you were", but "I'm thankful you are."
不要老是說"我希望你這麼做"，何不說說"我感謝你的一切"。

To My Friends Who Are............ENGAGED
給我那已訂婚的朋友們
The true measure of compatibility is not the years spent together but how
要真正衡量包容心，不是看在一起幾年了，而是要看彼此的敬愛
good you are for each other.

To My Friends Who Are............HEARTBROKEN
給我心碎的朋友們
Heartbreaks last as long as you want and cut as deep as you allow them to
心碎的時間和傷害的深度，完全取決於你自已。
go. The challenge is not how to survive heartbreaks but to learn from them.
難的是，如何從中學習，而不是從傷痛中爬起。

To My Friends Who Are............NAIVE
給我所有天真的朋友們
How to be in love: Fall but don't stumble, be consistent but not too
要如何戀愛？--就愛吧。不要欲言又止；要互相協調，不要太固執；
persistent, share and never be unfair, understand and try not to demand,
要分享，且千萬不要有不公平；要了解，別命令；
and get hurt but never keep the pain.
受傷後不要再記恨。

To My Friends Who Are............POSSESSIVE
給我積極的朋友們
It breaks your heart to see the one you love happy with someone else but
看到你所愛的他/她和其他人很快樂使你心碎
it's more painful to know that the one you love is unhappy with you.
但知道你所愛的他/她是和你在一起不快樂，令人更加的傷心。

To My Friends Who Are............AFRAID TO CONFESS
給我害怕去承認的朋友們
Love hurts when you break up with someone. It hurts even more when
當你和他/她分手時，愛受到傷害
someone breaks up with you. But love hurts the most when the person you
當他/她和你分手時，更是傷痛
love has no idea how you feel.
但傷害最深的是你所愛的他/她完全無法了解你的感受

To My Friends Who Are............STILL HOLDING ON
給我那還在等待的朋友們
A sad thing about life is when you meet someone and fall in love, only to
人生最傷心的事，是你和他/她愛情長跑了多年，最後的結局卻不如所望。
find out in the end that it was never meant to be and that you have wasted years on someone who wasn't worth it. If he isn't worth it now he's not
'如果他/她現在讓你覺得不值的付出，那麼一年，甚至十年後，都不會值的付出的。
going to be worth it a year or 10 years from now. Let go.....
讓他/她走吧

TO ALL MY FRIENDS.......
給我所有的朋友們
My wish for you is a man/women whose love is honest, strong, mature,
我竭誠祝福你們愛著一個誠實、強壯、成熟、衷心、有衝勁、保護你、積極、值得付出和無私的他/她。
never-changing, uplifting, protective, encouraging, rewarding and unselfish.

Today dinner....

aunt prepare for us the pai gu wang today...hehe...yummy...






and we got yong tau hu as well...



white carrot soup...



and finally the lou sang that i bought so long time from KL,and we decided to eat that tonight...

Pork Chop is coming....

Step 1: Starting to marinate the pork chop...with sprite...hehe




Step 2: Buy the breadcrumbs and pour it into a plate,prepare flour and egg(beaten)







Step 3 : Fry it....





Finally....Done...serve with thoudand island sauce...







Other dishes...

Vegetable....



Sambal Udang...



Papaya Suan....

Some special food to share....

The following is the Lou Sang that we have during the Chu Xi of CNY 2007,even though quite sometime ago,but just share it out...hehe...



and another is the picture that i took for the dishes that we have on Chu Xi also...seem a lot hor..but actually some dishes are repeated as the table is big...



Finally the special food that i want to share with you all..which is the the Abalone...it is really a rare experience that we ate abalone..



bought these small abalones when i travelled to Macau in Jan,recommended by the shopkeepers which is nice to eat,thinking to buy and eat during CNY,but we jus forget about that until my grandma dig out from the refrigerator...so decided to cook it..

you can estimate the size of the abalone by seeing my fingers there...



Different snaps of the abalone...precious moment to eat abalone,so must snap more..hehe...






This is the vege and chicken with the abalone after 6 hours of cooking...



This is the abalone with sauce...no sauce not so nice....hehe..




The abalone is sliced to pieces...



This is the chicken soup for the abalone....



~~~ Yummy Yummy ~~~~

八大方法教你遠離壓力

數數法：數數1、2、3……慢慢從1數到10，然後再從10數到1，有助於你從精神上放鬆，給自己一點時間緩衝緊張。當你再回到工作中時，會發現注意力容易集中多了。

呼吸法：呼吸並不只有維持生命的作用，吐納之法還可以清新頭腦，熨平紛亂的思緒。所以當你因壓力太大而心跳加快時，不妨試著放鬆身心，做幾個深呼吸。

“逃離”法：離開令你緊張的是非之地。站起來，走出辦公室，到走廊或戶外去，換換環境，呼吸點新鮮空氣，用幾分鐘的停頓整理一下思路。

暴力減壓法：隨身攜帶一個網球、小橡皮球或是什么別的，遇到壓力過大需要宣泄的時候就偷偷地擠一擠、捏一捏，把你心中的壓力擠出去。

寫作減壓法：“把煩惱寫出來”。用一張紙、一支筆，將你的壓力體驗，你生理、心理上的一切煩惱寫下來。在寫的過程中，你會感到情緒漸漸穩定下來。

香精水療法：在洗澡水里加入薰衣草、玫瑰、香水樹、天竺葵等具有鎮靜身心作用的芳香精油，有助於疏緩壓力。

水的溫度、水流的壓力、浮力和氣泡群相互撞擊能按摩肌肉，使血管擴張，促進血液迴圈，消除疲勞。

顏色減壓法：對付壓力的其中一個方法是讓自己多接近令人平靜的顏色，例如：綠色和藍色。這些顏色可以用在你穿的衣服，以及你家的墻壁或擺設上。面對壓力期間，避免紅色，因為它會讓情緒更加低沉。

冥想法：印度瑜伽功經常運用冥想使人達到一種精神境界。找個舒服的姿勢坐下來，徹底放鬆自己，專注於自己的呼吸，一呼一吸。剛開始你也許無法把注意力集中於呼吸上，而會隨意地思想，沒關係，堅持一段時間就會見到成效。忘記工作，讓自己進入到一種全新的世界中。

The Apprentice 6 Lessons

Success Lesson

Keep it positive. Abrasive power plays might put you in the lead for a time - but in the end, they will bring you down.

* * *

Success Lesson

If you have an unusual sense of humor, keep it under wraps. In serious business settings, it will only hurt you.

* * *

Success Lesson

Delegate. Being a leader means making the right calls about which tasks require your presence - and which you must delegate away to members of your team.

* * *

Success Lesson

Think before you speak. Thoughtless statements can get you fired - or sued - in the professional world.

* * *

Success Lesson

Stick to the issues. Fighting dirty sets up a team dynamic in which nobody wins.

* * *

Success Lesson

Don't hesitate to test the people you supervise. If they never face high-stakes challenges, how can you gauge their potential?

* * *

Success Lesson

Resist groupthink. Someone has to speak up and take the lead in fighting bad decisions. Why not you?

* * *

Success Lesson

Keep your ego out of it. To win in your career, make sound business decisions, not emotional ones. Managing projects capably and calmly will reflect better on you than all the self-promotion in the world.

* * *

Success Lesson

Be consistent. You can't be a negative backbiter one minute and a gentle lamb the next. If you want to be a leader, stay positive.

* * *

Success Lesson

If you are an entrepreneur, know who your customers are and develop products that will generate the most profit from them. Developing products that suit only your own taste might gratify your ego - but it is a recipe for marketplace failure.

* * *

Success Lesson

Be inspired and inspiring. When you have a compelling idea that your gut tells you is right, have the courage to sell it.

* * *

Success Lesson

Talk to your customers! They will tell you what they want. But first, you have to ask.

* * *

Success Lesson

Find your calm center in times of stress. Sure, James and Tim needed sleep. Sure, they were hyper and scared of losing. But professional people - like you - know that high-stress situations demand inner calm and thoughtfulness.

* * *

Success Lesson

Stay in the game. If you have a boss like Michelle, there will be times when you just won't be able to stand her any more. But ducking out of work will only hurt you, not the supervisor who is causing you all the misery.

* * *

Success Lesson

Stay in the game. That's what Mr. Trump was telling her when he said, "You will not be proud . . . never, ever quit." How can you ever succeed in your career if you walk away when things get tough?

* * *

Success Lesson

Rise to tough challenges. The ability to roll up your sleeves and take on difficult assignments can single you out for advancement and success.

* * *

Success Lesson

Being a leader means listening too. When you arrive on a new team, ask questions before deciding the role you should assume.

* * *

Success Lesson

Take smart risks. If you have to make a decision ASAP, the more conventional path is almost always the best.

* * *

Success Lesson

Once you know what your judges are looking for, find a way to provide it. If you will be judged on dollars, for example, put selling at the center of your efforts.

* * *

Success Lesson

Know when to yield to your group. It is hard to knuckle under when one of your ideas gets overruled - but pushing too hard will ultimately make you an outcast.

* * *

Success Lesson

Confront your fears. They often indicate the areas where you can experience the greatest growth in your life and career.

* * *

Success Lesson

Knowledge has to serve a real-world purpose. When it is knowledge for its own sake, it can't help you advance your team's cause - or your career. Why say "revenue maximization" when you can just say "profits" instead?

* * *

Success Lesson

Kill your own mistakes fast. It makes you look stronger, not weaker.

* * *

Success Lesson

Apply desperate measures in desperate times. When your current strategies are not working, substitute something different.

* * *

Success Lesson

Fight back fast. If your reputation suffers damage, don't wait for people to notice that you have what it takes to succeed. Strike back fast and prove your value.

* * *

Success Lesson

You can't be both a friend and an adversary. Sending mixed messages that way puts you at a competitive disadvantage and makes you look weak.

* * *

Success Lesson

Book knowledge doesn't cut it in the real world. In a do-or-die business situation, you have to produce results, not ideas.

* * *

Success Lesson

Your success begins and ends with how well you know your customer. In the end, all other concerns are secondary.

* * *

Success Lesson

Don’t play negative politics. Your failure to try to save the day will only reflect badly on you.

* * *

Success Lesson

You can do strong things, even under a weak leader. If you can move your team toward its goals, you will end up looking very good in the process.

* * *

Success Lesson

A leader has to make decisions. Democracy is great, but when a team is heading down the wrong road, the person at the top needs to take charge and change direction.

* * *

Success Lesson

Double-check the technical aids you will use in any talk or presentation. Go in early and be a fanatic about it. Doing anything less is an invitation to disaster.

* * *

Success Lesson

Don’t say negative things about yourself in business settings – ever. Whatever you say, people will believe. Just say nothing and let your great performance do the talking for you.

My Cari Blog

I have created another blog of mine..recording my travel journal...please feel free to go there to have a look...

http://cblog.cari.com.my/?47559

Macau Musical Fountain

Disney Slide

HK & Macau Travel Journal ( 7-12 Jan 07)

Dear Friends,

I have written a chinese travel journal with some pictures posted for my trip under the following link:

来，废话不多说，带你用照片游香港澳门！

http://chinese.cari.com.my/myforum/viewthread.php?tid=760566&extra=&page=1

please feel free to have a look there...

for almost all the pictures that i have taken,i have uploaded in the Photo Sessions of this space...

feel free to have a look also...

Enjoy reading....

Ching

Five Principles for Happiness in 2007

by David Bach

Tuesday, January 2, 2007

The arrival of the new year marks a symbolic time for fresh starts. Many of us take it as an opportunity to set goals, contemplate decisions, and renew commitments. It's special because of the revitalized sense of hope it brings.

Before you make your New Year's resolutions for 2007, I'd like to share some thoughts about how it's never too late to start living a rich life.

The Live Rich Factor

Most people believe that if they just had more money, the things that make them unhappy would disappear and their lives would be better. The truth is that your life can be better without more money. It can be better today, but you need to make some decisions and take some actions.

You don't need me to tell you what will make you happy -- only you know that truth.

I believe each of us has the power to discover our purpose and become joyful in the process of journeying toward that purpose. It's not easy, however. Nothing important and meaningful ever is.

What you need to do is create what I call the "Live Rich Factor" in your life. I call it this because those who find the purpose that leads them to joy are truly the luckiest people in the world, because they're living richly.

There are five basic principles involved in creating your Live Rich Factor:

Principle 1: Give Yourself a Break

We all tell ourselves the story of the one that got away. You can't move forward if you spend time focusing on what you shoulda-woulda-coulda done in 2006 or before. It's over, and its time to move on. The fastest way I know to do this is to write all of your regrets down on paper.

Make a list of all your personal and financial if-onlys. For example, "If only I had saved more money. If only I hadn't quit that job. If only I hadn't taken the job I have." You get the idea.

After reading the list aloud to yourself, get rid of it. Let it all go by literally burning the list (safely). Now you're ready for a fresh start in 2007 -- a new beginning.

Principle 2: Get Connected with Your Truth

The hardest thing to do is be honest with yourself. Asking yourself some key questions will lead you to some amazing discoveries, and possibly motivate you to do what it takes to create the life you envision for yourself.

I suggest writing your (honest) answers to the following questions in a new journal for the new year:

• What makes you happy at work?
  
• What makes you happy at home?
  
• What makes you happy with your friends and family?
  
• What makes you happy when you're by yourself?
  
• What do you love to do?
  
• What would you do with your life today if you weren't afraid of failure?
  
• What's not working in your life?
  
• What are you currently doing that prevents you from experiencing joy?
  
• What's working in your life?
  
• Who's not working in your life?
  
• Who in your life is subtracting value from and adding misery to it?
  
• Can you fix any of these relationships, or should you let them go from your life?
  
• What relationships are working in your life?
  
• If we were getting together one year from today, what would have to happen for you to be able to tell me that you now have more joy in your life?
  
• What's the single most important thing you've learned about yourself as a result of answering these questions?

You'll find that by putting your answers down on paper, they'll become clear more quickly and the actions you need to take more obvious and easier to initiate.

Principle 3: Stop Judging Yourself

Be nicer to yourself in 2007. Many people talk to themselves in a way they would never accept from a stranger, friend, or loved one. If this describes you, try stopping the negative conversations you have with yourself immediately.

For one week, simply commit to saying "stop it" when you think a negative thought about yourself. If you're in the habit of saying negative things to yourself, you'll find this is one of the most difficult exercises you'll ever do. Carry a notepad with you and make a mark each time you catch yourself thinking negatively. You'll find that as the days go by, your negative thinking can quickly be reduced.

Principle 4: Stop Judging Others

It's hard to be joyful when you're always judging others. In fact, it's close to impossible. Judging others creates a huge amount of stress in our lives. It affects our marriages and our relationships with our kids as well as the way we relate to friends, co-workers, and society in general.

We're not here to judge one another.

The next time you find yourself upset at someone or some situation, catch yourself and ask, "Are you judging?" Judging others is often an unconscious habit. But it's a habit that can be changed the moment you decide to stop doing it.

Principle 5 : Pursue Fun with a Vengeance

It's OK to pursue fun. It's what children do. My greatest joy these days is the simple pleasure of playing with my three-year-old son, Jack.

This holiday season with Jack taught me the simple power of pursuing fun -- again and again. What was fun for Jack this Christmas? It turns out it wasn't the Big Wheel that my wife, Michelle, and I stayed up so late building on Christmas Eve. And it wasn't the Star Wars Lego toy (although he was pretty excited about that).

Instead, what Jack found the most fun was a new game I made up to keep him entertained. The game was called Geronimo -- and it involved Jack jumping from the bed onto a stack of pillows yelling "Geronimo!" This silly little game ended up bringing us both hours of fun. The price of the game: nothing. The fun: priceless. And the laughs? Endless.

Why do we stop pursing fun as we get older? Fun shouldn't be squeezed into a few weeks of vacation each year. And it shouldn't be squeezed into the last chapter of your life when you "get to" retire. Fun deserves to be a part of your life now -- in 2007.

But fun doesn't just happen. You have to make it a priority in your life or it'll go missing. Life's too short to not have it.

So here's to a fun, happy, and healthy New Year. Cheers!