...ACCA mAlAysiA sustAinAbility reporting AWArDs (masrA) 2011 2 contents Introduction The age of integration: a new dawn for corporate reporting Panel of judges Entrants Shortlisted reports ACCA MaSRA 2011 winners Judges’ feedback Supporting organisations About ACCA 4 6 11 12 14 17 25 28 31 ACKnoWleDgement ACCA would like to thank and acknowledge the contribution and support of the distinguished panel of judges, AccountAbility, Bursa Malaysia Berhad, CorporateRegister.com, The Department of Environment (DOE), The Edge Business Weekly, The Edge Financial Daily and last but not least all participating companies in the Awards. We believe that the participating companies deserve recognition for leading the way to identify and communicate their environmental and social performance. Companies such as these are contributing towards the advancement of sustainable development and performance. 3 introduction Welcome to the ACCA report of the Judges for the malaysia sustainability reporting Awards (masrA) 2011. ACCA and our supporting partners for the masrA 2011 would like to thank all the companies that participated this year. Since the last ACCA MaSRA, the world of corporate social responsibility and sustainability reporting has been undergoing tremendous change. This is reflected in the various developments on the international and local front. Nationally, Bursa Malaysia remains a key driver of sustainability reporting for corporate Malaysia....
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...a ACCA F9 Key Examinable Areas for December 2012 NOTE: These should only be used in conjunction with proper studying. We cannot guarantee that these topics will appear in the actual exam as we have not seen the exam papers. Examiners are not predictable so it is vital that all core syllabus areas are revised fully. The tips are based on Kaplan’s experience and understanding of the ACCA exams and will help focus your last minute revision. Please also read all the Examiner’s Articles – available on the ACCA Global website Investment appraisal This is a key topic which is highly likely to be examined every time. The most common technique assessed is NPV with inflation and taxation although be prepared for a twist, possibly involving some of the more basic methods of the applications of NPV such as capital rationing or lease v buy. Working Capital Management Another key topic which is likely to examined every time. Exams to date have covered much of this topic but it’s been a while since we’ve seen the more numerical aspects surrounding inventory or payables management or anything regarding cash budgeting. Valuations This has been examined in virtually every F9 exam to date. Cash flow based values have yet to be examined although the PE ratio and dividend valuation methods still appear to be the more examinable areas. This syllabus area often appears alongside cost of capital questions. Business Finance This topic has been heavily examined recently and in particular...
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...RELEVANT TO ACCA QUALIFICATION PAPER P5 Economic value added versus profit-based measures of performance A successful performance measure evaluates how well an organisation performs in relation to its objectives. Since the primary objective of commercial organisations is normally assumed to be the maximisation of the wealth of its shareholders, it follows that performance measures should evaluate this. In practice, many organisations use profit-based measures as the primary measure of their financial performance. Two problems relating to profit in this area are: • Profit ignores the cost of equity capital. Companies only generate wealth when they generate a return in excess of the return required by providers of capital – both equity and debt. In financial statements, the calculation of profit does take into account the cost of debt finance, but ignores the cost of equity finance. • Profits calculated in accordance with accounting standards do not truly reflect the wealth that has been created, and are subject to manipulation by accountants. Economic Value Added – or EVATM – is a performance measurement system that aims to overcome these two weaknesses. EVATM was developed by the US consulting firm Stern Stewart & Co, and it has gained widespread use among many well-known companies such as Siemens, Coca Cola and Herman Miller. Residual income EVATM is based on the residual income technique that has been used since the early 20th century. Residual income...
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...About the American College Counseling Association ACCA is an Association for those persons in higher education to include colleges, universities, community and technical college settings, whose professional identity is counseling and whose purpose is fostering students' development. ACCA strives to support and enhance the practice of college counseling, to promote ethical and responsible professional practice, to promote communication and exchange among college counselors across service areas and institutional settings, to encourage cooperation with other organizations related to higher education and college student development, and to provide leadership and advocacy for the profession of counseling in higher education. ACCA is a division of the American Counseling Association. American College Counseling Association How To Use Your College Counseling Center American College Counseling Association “Supporting and enhancing the practice of college counseling.” www.collegecounseling.org Developed by the ACCA Public Awareness and Professional Advocacy Committee July 2006 How to Use Your College Counseling Center Services Often Provided INDIVIDUAL COUNSELING: Confidential individual counseling is available for a variety of personal issues including emotional problems, adjustment to college life, and interpersonal relationship issues. GROUP COUNSELING: Confidential counseling groups are designed and offered to address mental health issues (e.g., substance abuse,...
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...FAB P R A C T I C E & R E V I S I O N K I T PAPER F1 ACCOUNTANT IN BUSINESS BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for the FIA suite of qualifications. In this, the only FAB/F1 Practice and Revision Kit to be reviewed by the examiner: We include Do you know? Checklists to test your knowledge and understanding of topics We provide you with two mock exams including the Pilot paper We provide the ACCA examiner’s answers as well as our own to the Pilot paper as an additional revision aid BPP's i-Pass product also supports this paper and is a vital tool if you are taking the computer based exam. Note FIA FAB and ACCA Paper F1 are examined under the same syllabus and study guide. FOR EXAMS FROM FEBRUARY 2013 TO JANUARY 2014 FAB/F1 ACCOUNTANT IN BUSINESS First edition May 2011 Second edition November 2012 ISBN 9781 4453 9976 8 (Previous ISBN 9781 4453 7311 9) e-ISBN 9781 4453 9252 3 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA www.bpp.com/learningmedia Printed in the United Kingdom by Ricoh Ricoh House Ullswater Crescent Coulsdon CR5 2HR A note about copyright Dear Customer What does the little © mean and why does it matter? Your market-leading BPP books, course materials and elearning materials do not write and update themselves. People write them: on their own...
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...Office check Student’s signature Enrolment Form | ACCA Part-time Courses 2011/12 Please make sure that you complete all sections of this application form clearly in black or blue ink and block capitals and return by Post/ Fax/ Email to: LSBF, Admissions, 9 Holborn, London, EC1N 2LL, United Kingdom Tel: +44 (0) 207 823 2303, Fax: +44 (0) 207 8232302, Email: admissions@lsbf.org.uk Please note that an English translation should accompany all non-English documents. For further up-to-date information about the application process please refer to www.lsbf.org.uk/students/apply.html Student Details Title: * Mr Ms Mrs Miss Other (please specify)...................................................................................................................... Surname: *....................................................................................................... First Name:*....................................................................... Home address:*............................................................................................................……........................................................................ City:* …………………...........................................Country: *.................................................................... Postcode: ................................ Correspondence Address:* (if different from home address)….............................................................................................
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...f92007 2008 2009 2010 2011 2012 2013 Pilot Dec Jun Dec Jun Dec Jun Dec June Dec Jun Dec Jun Funding of working capital 3 3 4 2 2 3 Overtrading 2 Cash management 3 1 2 Receivables management 3 4 3 2 1 3 2 2 3 Inventory management (EOQ) 4 3 3 4 2 NPV with inflation and/or tax 4 2 4 3 2 3 1 1 1 1 1 Return on capital employed 4 2 1 Payback period 2 Lease or buy 1 Capital rationing 1 1 Replacement 1 3 1 Internal rate of return 4 2 4 2 1 Risk and uncertainty 2 1 1 1 Sources of finance 2 4 4 2 3 3 3 4 Rights issue 3 2 1 4 3 4 Dividend policy 3 4 3 Theories of gearing 1 1 2 Weighted average cost of capital 1 1 3 1 2 2 4 2 3 4 3 2 Capital asset pricing model 1 3 2 4 1 4 2 Share / business valuation 1 2 1 1 2 4 3 4 4 4 Market efficiency 1 2 2 Forecasting exchange rates 2 4 3 Foreign exchange risk management 2 4 4 3 3 4 3 3 Interest rate risk 2 3 Financial ratios 1 3 2 4 2 4 Please do read the following notes carefully: 1 The purpose of this table is to help you find which questions to practice for specific topics. Do not use this table to try and predict what will be in the next exam - the examiner does deliberately repeat topics! The numbers in the columns are the question number in the exam. Many questions cover more than one area of the syllabus - that is why the same question number sometimes appears more than once, 2 For latest course notes, free audio & video lectures, support and forums please visit...
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...Answers Professional Level – Essentials Module, Paper P2 (INT) Corporate Reporting (International) 1 (a) Angel Group Statement of cash flows for the year ended 30 November 2013 Profit for the year (W1) Adjustments to operating activities Financial assets – profit on sale (W5) Retirement benefit expense (W7) Depreciation (W1) Profit on sale of PPE (W1) Associate’s profit (W3) Impairment of goodwill and intangible assets (26·5 + 90) (W6) Finance costs Movements in working capital Decrease in trade receivables (180 – 125 + 3) Decrease in inventories (190 – 155 + 6) Decrease in trade payables (361 – 155 + 4) Cash generated from operating activities Cash paid to retirement benefit scheme (W7) Interest paid Income taxes paid (W4) Net cash generated by operating activities Cash flows from investing activities Sale of financial assets (W5) Purchase of financial assets Purchase of property, plant and equipment (PPE) (W1) Cash grant for PPE (W1) Purchase of subsidiary (30 – 2) (W2) Proceeds from sale of PPE (W1) Dividend received from associate (W3) Purchase of associate (W3) Net cash flows used by investing activities Cash flows from financing activities Proceeds of issue of share capital Repayment of long-term borrowings Dividends paid Non-controlling interest dividend Net cash generated by financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Workings Working 1 Property, plant and...
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...EXAMPLE 3.1 A COMPANY LTD. Statement of Financial Position December 31, Year 1 Assets € 300,000 Liabilities Shareholders’ equity Ordinary stock (5,000 shares) Retained earnings € 120,000 100,000 80,000 € 300,000 B CORPORATION Statement of Financial Position December 31, Year 1 Assets € 88,000 Liabilities Shareholders’ equity Ordinary stock Retained earnings € 30,000 25,000 33,000 € 88,000 The fair values of B Corporation’s identifiable assets and liabilities at December 31, Year 1, are as follows: Assets Liabilities Net assets € 109,000 29,000 € 80,000 Illustration 1 Illustration 1 is an example of the acquisition of an enterprise’s assets for cash. Assume that on January 1, Year 2, A Company pays €95,000 in cash to B Corporation for all of its net assets. The acquisition cost is allocated as follows: Purchase price Fair value of net identifiable assets acquired Goodwill € 95,000 80,000 € 15,000 A company’s statement of financial position after the business combination is not a consolidated statement of financial position and would be as shown below. A COMPANY LTD. Statement of Financial Position January 1, Year 2 Assets (300,000 + 109,000 – 95,000) Goodwill € 314,000 15,000 € 329,000 Liabilities (120,000 + 29,000) Shareholders’ equity Ordinary stock (5,000 shares) Retained earnings € 149,000 Financial Accounting: Consolidations & Advanced Issues 100,000 80,000 Lesson 3 11 € 329...
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...ATTACHMENT A: GENERIC TRAINING PLAN EY Zimbabwe – 2013 Instructions for completion · This is a generic training plan for ONE hypothetical trainee · All applicants must complete all the sections TRAINING PLAN Elective: Auditing & Assurance Residuals: Taxation Management Decision-Making & Control Financial Management Internal Audit, Risk Management and Governance COMPULSORY SKILLS BUSINESS ETHICS Mode through which competence will be achieved (i.e. practical experience/ simulation Competency to be achieved BE(C) Acts ethically and in accordance with the rules of professional conduct Tasks to be performed BE(C)1 Displays honesty and integrity BE(C)2 BE(C)3 BE(C)4 BE(C)5 BE(C)6 BE(C)7 BE(C)8 Carries out work with a desire to exercise due care Maintains objectivity and independence Avoids conflict of interest Protects the confidentiality of information Maintains and enhances the profession’s reputation Adheres to the rules of professional conduct, including the ICAZ Code of Professional Conduct Identifies and adequately responds to potential ethical dilemmas Examples of activities to be performed by trainees to gain exposure to this competence E&Y Firm values – Our shared values inspire our people worldwide and guide them to do the right thing, and our commitment to quality is embedded in who we are and in everything we do. Our values define who we are · · · People who demonstrate integrity, respect and teaming People with energy, enthusiasm and the courage to lead People who...
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...Examination centre list Select your centre name and centre code from the lists shown and enter them on the examination form. A list of available special centres is shown below. These centres are subject to final confirmation. Please read the notes overleaf before selecting your special centre. UK and Ireland C ode S tart time Inverness U952 10:00hrs Isle of Wight U963 10:00hrs Kirkwall U969 10:00hrs Lerwick U953 10:00hrs Newcastle Under Lyme U954 10:00hrs Shrewsbury U955 10:00hrs Bangor (Wales) U987 10:00hrs INTERNATIONAL Country C entre C ode S tart time Argentina Buenos Aires S957 10:00hrs Australia Adelaide S830 16:30hrs Australia Brisbane S915 17:00hrs Australia Perth S970 15:00hrs Austria Vienna S989 11:00hrs Belgium Brussels S920 11:00hrs Belarus Minsk S705 12:00hrs Belize Belize S914 08:00hrs Bermuda Hamilton S940 08:00hrs Bosnia-Herzegovina Sarajevo S967 11:00hrs Brazil Sao Paulo S955 10:00hrs British Virgin Islands Tortola S988 08:00hrs Cameroon Yaounde S959 10:00hrs Canada Calgary S925 08:00hrs Canada Edmonton S935 08:00hrs Canada Montreal S964 09:00hrs Canada Vancouver S996 08:00hrs Egypt Alexandria S871 12:00hrs Estonia Tallin S944 11:00hrs Germany Frankfurt S905 11:00hrs Germany Hamburg S898 11:00hrs Germany Munich S880 11:00hrs Ghana Tamale S936 09:00hrs Greece Thessaloniki S994 12:00hrs India Hyderabad S834 14:30hrs Indonesia Jakarta S991 15:00hrs Indonesia Yogyakarta S841 15:00hrs Israel Jerusalem S995 12:00hrs Italy Milan...
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...Professional Level – Essentials Module Business Analysis Wednesday 10 December 2008 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper is divided into two sections: Section A – This ONE question is compulsory and MUST be attempted Section B – TWO questions ONLY to be attempted Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants Paper P3 Section A – This ONE question is compulsory and MUST be attempted The following information should be used when answering question 1. 1 Introduction The National Museum (NM) was established in 1857 to house collections of art, textiles and metalware for the nation. It remains in its original building which is itself of architectural importance. Unfortunately, the passage of time has meant that the condition of the building has deteriorated and so it requires continual repair and maintenance. Alterations have also been made to ensure that the building complies with the disability access and health and safety laws of the country. However, these alterations have been criticised as being unsympathetic and out of character with the rest of the building. The building is in a previously affluent area of the capital city. However, what...
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...4 JJG Co is planning to raise $15 million of new finance for a major expansion of existing business and is considering a rights issue, a placing or an issue of bonds. The corporate objectives of JJG Co, as stated in its Annual Report, are to maximise the wealth of its shareholders and to achieve continuous growth in earnings per share. Recent financial information on JJG Co is as follows: Turnover ($m) Profit before interest and tax ($m) Earnings ($m) Dividends ($m) Ordinary shares ($m) Reserves ($m) 8% Bonds, redeemable 2015 ($m) Share price ($) 2008 28·0 9·8 5·5 2·2 5·5 13·7 20 8·64 2007 24·0 8·5 4·7 1·9 5·5 10·4 20 5·74 2006 19·1 7·5 4·1 1·6 5·5 7·6 20 3·35 2005 16·8 6·8 3·6 1·6 5·5 5·1 20 2·67 The par value of the shares of JJG Co is $1·00 per share. The general level of inflation has averaged 4% per year in the period under consideration. The bonds of JJG Co are currently trading at their par value of $100. The following values for the business sector of JJG Co are available: Average return on capital employed Average return on shareholders’ funds Average interest coverage ratio Average debt/equity ratio (market value basis) Return predicted by the capital asset pricing model Required: (a) Evaluate the financial performance of JJG Co, and analyse and discuss the extent to which the company has achieved its stated corporate objectives of: (i) maximising the wealth of its shareholders; (ii) achieving continuous growth in earnings per share. Note: up to 7 marks are available...
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...ACCA Qualification – Entry Requirements The basic entry requirements for each country are listed alphabetically. To find your country please click on the appropriate section below: A–C D–F G–I J–L M–O P–R S-U V–Z A Afghanistan Albania Algeria Angola Antigua and Barbuda Argentina Armenia Australia Austria Azerbaijan B Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Brunei Bulgaria Burkina Faso Burundi C Cambodia Cameroon Canada Central African Republic Chad Chile China, People’s Republic Colombia Congo Republic Congo, Democratic Republic Costa Rica Top Croatia Cuba Cyprus Czech Republic D Denmark Djibouti Dominica Dominican Republic E Ecuador Egypt El Salvador Eritrea Estonia Ethiopia F Fiji Finland France Top G Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guatemala Guinea Guinea Bissau Guyana H Haiti Honduras Hong Kong Hungary I Iceland India Indonesia Iran Iraq Ireland Israel Italy Ivory Coast (Côte d’Ivoire) Top J Jamaica Japan Jordan K Kazakhstan Kenya Kuwait Kyrgyzstan L Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg M Macao Macedonia Madagascar Malawi Malaysia Mali Malta Mauritania ...
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...ACCA Exam Technique Articles OpenTuition.com ACCA P7 Exam technique ( see also the section on general exam technique ) ๏ put very simply, the way to approach the P7 exam is to “read, plan, read again and then write” ‣ ‣ ‣ work on the principle that each valid, relevant point that you make will score a mark and the more valid points you make, the more marks you will score! common sense? I should say so! ๏ “But the pass rate percentage can be down in the low 30s. If the large majority of my contemporaries are employed by accounting / auditing rms, why is the pass rate so low? And what chance do I have - I have absolutely no auditing experience at all?” ‣ around 70% - 75% of your contemporaries are employed by audit rms. Yet there is a pass rate in the low 30s. Does this not tell you that, even if no non-auditors were to pass, the majority of those with auditing experience still fail? there have to be some underlying reasons for this! ‣ • I personally believe that there are a number of contributory factors including, in no particular sequence: • not reading the question carefully enough and therefore failing to address the question requirements knowing too much and therefore misallocating their time failing to write the obvious points - because they are so obvious reluctance on the part of non-natural-English-speaking students to write enough points when I was a student my own audit manager ( big 4 rm ) managed to fail the audit exam! For huge...
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