Study guides, Study notes & Summaries

ACCA - Audit and Assurance (AA) Answered Correctly To Score A+

Colorful and highlighted facts and calculation of some the accounting standards based on my own understanding that help me passed my ACCA Financial Reporting Exams. Its not everything but they are the ones that I find crucial but neglected IAS by most lecturers. It's not perfect but it works.

A summary mind map on how to treat income taxes when preparing the financial statements in ACCA exams

ACCA F1/FBT/BT *Question Bank*

ACCA Test Questions with Correct Answers predecessors - Answer-someone or something that came before in conjunction with - Answer-together with to designate - Answer-to indicate, point out; to appoint; selected but not yet installed To converge - Answer-To move toward one point, to approach relative nearness discretion - Answer-good sense default classification - Answer-standard typical classification come to mind - Answer-in my head in essense - Answer-basic real nature of...

ACCA 2023 Exam Questions with Correct Answers Accountability of Internal audit - Answer-CC090309 1 access all parts of th organization 2auditor can freely comment the performance of managent 3should be actioned at th highest level to ensure its effectice implementation Absolution - Answer-FC one set of ethic rules should fits in all cultures without exception Accounting - Answer-CC080101 1the transactions: book of primary entry 2analysed and posted to ledger 3summarised in financia...

ACCA Exam Questions and Answers All Correct Absorption costing - Answer-focuses on the total cost of producing one unit of output, includes fixed production overheads in valuation cost of production Account - Answer-Accounts receivablea location where all items relating to one particular group are recorded. For example cash items are recorded in the cash account. Account code - Answer-a unique group of numbers and/or letters that is used to identify an item and classify it into a particu...

What are some of the qualities of good information? correct answer: - Relevance - Clarity - Completeness - Accuracy - Timeliness - Manageable in volume What is Data? correct answer: Raw data materials ready for processing. What is information? correct answer: Data that has been processed and is now meaningful to its users. What is management information? correct answer: Information used by management in the running of a business or organisation. What is information used f...

Define Absorption Costing correct answer: Fixed production overheads included OAR calculation correct answer: Estimated overheads divided by estimated activity level Absorption Costing two advantages correct answer: Selling price made to cover all costs. Complies with IAS 2 Absorption costing two disadvantages correct answer: Profits manipulated by changing production levels. Assumes overheads are volume related. Contribution Calculation correct answer: Fixed costs plus profit...