Icaew Study guides, Class notes & Summaries

Porter's 5 forces model, what is the purpose and what are the elements? - correct answer Analyses the competitive aspect of the task environment: - Bargaining power of suppliers - Threat of substitute products or services - Bargaining power of customers - Threat of new entrants - Rivalry among existing firms In terms of the management process, what does leading involve? - correct answer Concerned with generating effort and commitment towards meeting objectives What are the diff...

1. Your name - Answer Mason Tyler 1. Who do you work for - Answer AB Chartered Accountants 1. What does WWL sell - Answer Carpets (PP, 80:20 wool mix, 100% wool), Rugs and Bespoke Design Services 1. Who do you report to - Answer Tian Haines, partner in business advisory unit 2. What are some related items sold in the carpet industry - Answer Underlay, other soft flooring and hard flooring 2. How much of the market do wool based carpets make up by value? - Answer 10% ...

Contract - correct answer An agreement which legally binds the parties What are the essential elements of a contract - correct answer Offer and acceptance, agreement. Intention to create legal relationship consideration. Standard form contract - correct answer A standard document prepared by many large organisations and setting out the terms on which they contract with their customers. Prepared by the dominant party which the other party has no choice but to take or leave. Freedom of...

ICAEW ACA Accounting Accounting - correct answer A way of recording, analyzing and summarizing transactions of an entity. Statement of Profit and Loss - correct answer It reflects the performance of a business over a period of time. Statement of Financial Position - correct answer It reflects the position of a business at a point in time. Users of Accounting - correct answer Any organization/business/individual who needs to keep track of their income, expenses, assets and liabiliti...

ICAEW Law Question and answers rated A+ 2024 Features of criminal law - correct answer 1) State disapproves the conduct 2) Purpose - enforcement of particular forms of behavior 3) Case brought by the State 4) Burden of proof: on prosecution 5) Standard of proof: high standards 6) Object: to regulate society by the threat of punishment 7) Penalties: Fine or imprisonment Features of civil law - correct answer 1) Private law 2) Purpose - to resolve individual disputes 3) Case brought...

Associates - Answer significant influence but not control20% ownership power to participate in policy decision b ut not control over them limitations of FS - Answer Backward looking exclude non financial info highly standardised aggregated info purpose of conceptual framework - Answer develop future IFRS promote harmonisation national standard setting bodies assist preparers of FS assist auditors assist users of FS provide info about approach to formulating IFRS Qualit...

ICAEW ACA Law Actual Real Tested Questions And Correct Answers 100% When does UNCISG apply? ANSWER : When parties have their place of business in different states What is an obligation of the seller under the UNCISG? ANSWER : to deliver goods of quality set out in the contract deliver goods on time To comply with Sharia law, should savings and lending arrangements avoid payment of interest? ANSWER : yes Under sharia law, what is riba? ANSWER : the concept of unlawful gain What...

ICAEW BTF questions with correct answers

Principles of TAX ICAEW questions with correct answers

ICAEW AA Chapter 7- Planning ISA300 - planning audit - correct answer Time wasted doing wrong - inefficient Really important work might not be done at all- not prioritizing key work Wrong conclusion may be drawn Audit Strategy - correct answer Background information required to an effective audit- formulation of general strategy which considers materiality risk audit approach experts timing team budgets and deadlines of audit - guides the development of audit plan Audit plan - corr...