MAY 2009

WORKING FOR NGOs

FIND A JOB AND SAVE
THE WORLD CE’eau
RECRUITMENT
LOWDOWN
FINANCE SKILLS
STILL IN DEMAND

CAT PASSED
FINALISTS
OUR LATEST ROLL
sweet smell of
OF HONOUR
success

POWER
WOMEN
CHARTING THE ROLE OF ACCA’S
FEMALE PIONEERS PAST AND PRESENT
4 CONTENTS

DISPATCH
06 GRAPHIC NEWS The jobs crunch hits – and we’re
all stressed out
08 DISPATCH News round-up and global jobs news

FEATURES
24 A WOMAN’S PLACE
ACCA’s pioneering females
28 THE LOWDOWN The changing
recruitment marketplace
32 MEET BOEN ENG TAN
Achievement Award winner
34 A CREDIT CRUNCH CAREER
SOLUTION? Working for NGOs
38 WHAT ARE WORDS
WORTH?
Terminology unravelled
42 IDENTITY CRISIS
A new role for
internal auditors?

LEARNING CENTRE
12 MOVING ON Movers and shakers
14 REVIEWS Online and book reviews
15 HOW TO Answer written questions
16 3 THINGS Capitalism: what you should know
17 PER JARGON BUSTER Everything explained
18 NEW BLOGGERS ACCA’s online diarists
20 AFFILIATE PROFILE Asamoah-Agyepong Oduro
21 TALKING TECHNOLOGY Unified communications
22 PROFILE Marzena Gornikowska
 Welcome to the MAY 2009 issue of STUDENT ACCOUNTANT
Richard Aitken-Davies
Please e-mail studentaccountant@accaglobal.com with your feedback on this issue President
Brendan Murtagh
Deputy President
Mark Gold
Vice President
Helen Brand
Chief Executive
TECHNICAL
EDITORIAL TEAM
Jamie Ambler
48 OBU RAP
Editor
50 MASSAGING THE
Victoria Morgan
FIGURES Paper P7
Deputy Editor
52 MEASURING
Calum Robson
PLANNING
Editorial Consultant
VARIANCES Paper F5
Jackie Dollar
54 FOCUS ON PER:
Art Editor
Performance
Objective 1 Richard Gooding
Designer
56 CURRENT ISSUES
Paper P2 Rhian Lewis
Editorial Executive
WWW.ACCAGLOBAL.COM
RESOURCES Glen Patterson
Online Editor

ACCA NEWS 29 Lincoln’s Inn Fields London WC2A 3EE

80 INTO THE United Kingdom
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online-only www.accaglobal.com
82 G20: Helen
PUBLISHING AND ADVERTISING
Brand gives ACCA’s
Adam Williams
perspective
Head of Publishing
83 TOUGH
Anthony Kay
CHALLENGES
Production Manager
Global concerns
For all advertising-related matters please
EXAMS contact Lisa Peake:
84 TESTING TIMES tel: +44 (0)20 7902 1224
Maximise your marks e-mail: lisa@educate-direct.com
in June
Published by the Certified Accountants
Educational Trust in cooperation with ACCA.
NOTICEBOARD
The Council of ACCA and the publishers do
88 Essential information not guarantee the accuracy of statements
for students made by contributors or advertisers, or
accept any responsibility for any statement
which they may make in this publication.

Print management KEP

ACHIEVERS No part of this publication may be

reproduced, stored in a retrieval system, or
transmitted in any form or by any means,
64 CAT PASSED electronic, mechanical, photocopying or
FINALISTS otherwise, without prior written permission of
The roll of honour – the publishers. © CAET 2009 ISSN 1473-0979
plus: what now?
6 DISPATCH
GRAPHIC NEWS
JOBS CRUNCH
65% of jobseekers say they’d happily increase
their daily commute to get a new job.
34% also told recruiters Morgan McKinley
they’d relocate in the current climate to find work.

FRANCE 167.9
JAPAN 122.6
UK 106.8
US 85.3
QATAR 12

MEDIAN MISERY
The UK’s tax regime has fallen roughly midway
between the world’s harshest and friendliest tax
climates, according to Forbes Asia Tax Misery Index.
France topped the poll with a score of 167.9, while
Qatar came bottom with 12. The UK was ranked at
29th with 106.8. Countries with high scores impose
the harshest taxes. Forbes calculates the annual
index by looking at the corporate, personal, social
security and sales tax rates of 50 jurisdictions.
 STUDENT ACCOUNTANT 04/2009
7

Recession blues
The fear factor has struck accountants across the world, according to a new international
survey of 500 finance professionals – mainly auditors – by CareersinAudit.com. Among its
findings are an increase in workplace rivalry, overtime, stress – and even lost sleep

ARE YOU WORKING EXTRA HAVE YOU FELT MORE STRESSED DO YOU WORRY ABOUT
HOURS SINCE THE DOWNTURN? SINCE THE DOWNTURN? LOSING YOUR JOB?

FEAR IN
FIGURES
69%
16% 26% 22% say
More than seven hours a week Much more stressed Constantly worried colleagues
have
become
more
competitive
in a bid to
keep jobs

42%
14% 43% 38% say their
employer
4-6 hours more a week Slightly more stressed Slightly worried has made
accountants
redundant
in past six
months

39%
would
15% 29% 31% accept a
1-3 hours more a week About the same Not really worried pay cut to
keep their
job

32%
losing
sleep at
night
because
55% 2% 9% of work
No more hours a week Less stressed Not at all worried worries
8 DISPATCH
01 BUDGET
TARGETS EVADERS
British taxpayers cheating the
nation’s coffers by £25,000 or
more will be named and shamed,
NEWS ROUNDUP
with HM Revenue & Customs
publishing a list of offenders. This
was one of a number of measures
unveiled in Alistair Darling’s
Budget last month. Others
included an increase from 45% to
50% for those earning more than
£150,000 a year, an extension of
provisions to allow businesses to
carry back losses for up to three
years and defer tax payments, and
delays in corporation tax hikes.
02 IASB RESPONDS TO G20
The International Accounting
Standards Board (IASB) has
Blacklisted: US president
Barack Obama talks
cooperation with Costa Rican
president Oscar Arias
agreed to take action by the end of
the year on all recommendations
on accounting standards made by
the G20 leaders. The moves aim to
help formulate an internationally
consistent approach to the
financial crisis. A meeting between
the IASB, the FASB and the
Accounting Standards Board of
Japan reaffirmed their
commitment to the convergence of
accounting standards, despite
increased pressure from US and
European political leaders. The
IASB says attempts to provide
consistent approaches to
impairment of assets are a
challenge, with IFRSs and US
GAAP having ‘multiple and
different impairment models that
relate to different financial asset
TAX HAVENS FALL
INTO LINE
Costa Rica, Malaysia, the
Philippines and Uruguay
have all responded to their
blacklisting by the G20 nations
by agreeing to cooperate
with the provision of more
information to combat tax
abuse. Consequently, they
have moved to the ‘grey
list’ of partially cooperative
jurisdictions. All jurisdictions
surveyed by the OECD have
agreed to adopt the standard,
aimed at providing information
on individuals and corporations
using tax havens as a means
of avoiding tax. But market
analyst Datamonitor warns that
some countries on the grey
list are likely to avoid full
cooperation, saying countries
suffering a loss of revenues
to tax havens should consider
copying Brazil, which levies
higher rates of taxation on
companies domiciled in
jurisdictions it regards as
tax havens.
types in different ways’. The IASB
and FASB will now prioritise the
development of a new standard
on fair valuation and impairment,
rather than making piecemeal
amendments to existing standards.
03 PARALLEL ACCOUNTING
Paul Boyle, chief executive of the
UK’s Financial Reporting Council
(FRC), has called for a debate on
whether companies should
produce several sets of financial
statements, rather than
accounting standards being used
to achieve multiple outcomes
through a single set of
statements. ‘The needs of all
users cannot be provided by a
single set of financial statements,’
he argued. Instead, he suggested,
consideration should be given to
the production of alternative
interpretations of a company’s
health. The FRC has published a
discussion paper looking at the
future of financial reporting. It can
be accessed at www.frc.org.uk
04 MICHAEL PAGE
PROFITS FALL
Gross profits at financial sector
recruitment specialists Michael
Page fell by a third in Q1 of this
year to £95m, compared with the
same period in 2008. The biggest
fall was recorded in the
Asia-Pacific region, where gross
profits fell by 42.3%. Half of the
firm’s profits are recorded in the
Europe, Middle East and Africa
region, where profits fell by 26.8%.
The group cut 809 jobs, 16% of
the total, in the first quarter.
05 TOUGH TIMES
FOR IRELAND
Irish income taxes have increased
and spending cut under an
emergency budget. A recently
imposed income levy has doubled
to a maximum of 6%. Excise duty
on cigarettes is up by a quarter.
Welfare payments are down by as

SAFE, BUT NO HAVEN
When Hong Kong looked likely to rate a mention in
a ‘name and shame’ list of tax havens worldwide,
drawn up by the Organisation for Economic
Cooperation and Development (OECD), chief
executive Donald Tsang (pictured right) jumped to
the city’s defence and highlighted its compliance
with global financial reporting standards. Hong
Kong has a corporate tax rate of 16.5% and
personal income tax of 15%. The South China
Morning Post reported that at the G20 summit
in London last month, Tsang told members of
the media that Hong Kong had ‘very transparent
and very competent and well-respected banking
and financial services’. ‘Our tax rate is low,’
he conceded, ‘but that does not mean that we
harbour irregularities in our system.’ Tsang
pointed out that the Government was seeking
lawmakers’ approval for changes to tax laws
this year to allow information to be shared with
foreign authorities to crack down on tax evasion –
a move announced in this year’s Budget.
A NUMBERS much as half, while a campaign
GAME: against welfare fraud has been
FACTS AND launched. Tax relief on mortgage
FIGURES interest is restricted to seven
years. A National Asset
50% Management Agency has been set
New tax rate up as a ‘bad bank’ to take dodgy
for UK workers loans on commercial properties
earning off the books of Irish banks.
£150,000
or more 06 PWC PARTNERS
PROSECUTED
4.5% Two partners in the Indian practice
Projected of PricewaterhouseCoopers are
unemployment being prosecuted over their audit
rate in of the failed Satyam IT company.
Malaysia The firm said it was ‘surprised and
disappointed that the Central
809 Bureau of Investigation has
Q1 pressed charges’ and that details
redundancies of the charges were awaited. ‘We
at recruiters have not come across any evidence
Michael Page of criminal wrongdoing on the part
of either partner and both
vigorously deny any wrongdoing,’
said PwC. Both partners were
suspended by PwC in January:
Gopalakrishnan has since retired,
while Talluri remains suspended.
STUDENT ACCOUNTANT 05/2009
The latest on the global economy
www.accaglobal.com/economy
07 SEC FOCUSES ON FRAUD
The US Securities and Exchange
Commission is to bring in
auditors from outside to
strengthen its fraud-detection
operations in the wake of the
Madoff scandal. The SEC is
engaged in a comprehensive
investigation to understand why
the Madoff fraud went unnoticed
for so long, despite signals and
warnings that should have led to
detection. One likely option is to
engage firms to conduct
compliance reviews for the SEC.
The Commission’s enforcement
operations are also likely to be
enhanced, possibly by hiring
retired FBI officers.
08 CREATIVES TO
GET BOOST
Hong Kong’s creative industries
will receive a mid-year boost
when the government sets up
a dedicated office to foster
arts-related business. The
‘Create Hong Kong’ initiative
has identified industries with
9
potential for
development,
especially in film,
design, animation
and comics, digital media
technology, advertising
and architecture.
09 AUSTRALIA DEBT
RELIEF
Australians who lose their jobs
will be eligible for mortgage relief
for up to a year, and could get
concessions on car loans and
other debts, in a deal struck with
the major banks. The government
initiative is intended to stave off
mortgage defaults and forced
sales that would normally
accompany rising unemployment.
10 JOBLESSNESS RATE
ON RISE
Malaysia’s unemployment rate is
projected to increase from 3.7% in
2008 to 4.5% in 2009, on the back
of tougher economic conditions,
Bank Negara has revealed. The
unemployment rate in the country
stood at 3.3% and 3.2% in 2006
and 2007 respectively, noted the
central bank in its annual report
2008. To offset private sector job
losses, the central bank said the
public sector was expected to step
up its employment drive, with the
aim of employing 63,000 people
in 2009-10.
11 ACRA URGES
MORE VIGILANCE
The Accounting and Corporate
Regulatory Authority in Singapore
has urged auditors to be more
vigilant. ACRA warns that fraud
risk relating to mis-statements
in financial statements could
become greater. It recommends
careful consideration in areas
especially susceptible to
heightened risk, such as valuation
of financial instruments held
at fair value; and provision for
onerous contracts.
10 DISPATCH
01 BUSINESSES WARNED
AGAINST TALENT DRAIN
ACCA has told businesses that,
while their primary concern at
the moment may be survival,
long-term potential should not be
sacrificed for short-term thinking.
Jamie Lyon, senior manager,
professional development, said,
‘Even in these difficult times,
staff cuts should always be
a last resort. Now is a good
time for businesses to invest in
their current talent pool, and
add depth to that pool through
continued investment in training
and professional development.
It could be as late as 2010 or
2011 before the world begins
to emerge from the current
JOBS NEWS
economic situation – but when
the upturn in the economy
arrives, you don’t want your
business to be at risk as a
result of short-term thinking in
the past.’
02 HONG KONG
GLOOM CONTINUES
According to the latest Hudson
report, for the second quarter
of 2009, hiring expectations
among employers in Hong Kong
have fallen again. In a survey of
more than 600 executives, 14%
said they plan to increase hiring
in Q2, compared with 18% in
Q1. The proportion forecasting
reductions in headcount has
doubled, from 11% to 22% – the
highest since Q4 1998, with over
half of organisations having
EASTERN EUROPEANS
HOMEWARD BOUND
As a once-lucrative jobs
market dries up, thousands
of eastern European
professionals have been
forced to return home – just
as their own home countries
face economic hardship.
Many of 2004’s European
Union accession countries,
such as Poland and the Czech
Republic – where ACCA has
enjoyed high growth rates –
experienced a mass exodus of
migrants to the UK, Ireland,
and other western countries.
‘The situation is very bleak,’
Zora Butorova of the Institute
for Public Affairs in Bratislava,
Slovakia, told the IPS news
agency. In April, the Polish
government approached the
International Monetary Fund
(IMF) for $20bn, while the
IMF downgraded its forecast
for the Czech economy from
growth of 1.5% to a 1.3%
contraction by the end of
the year.
implemented initiatives to cut
HR-related costs in the past
six months.
03 PWC TARGETS
GRADS WITH
EMPLOYABILITY HELP
A series of online films
of recession-focused
career advice, produced by
PricewaterhouseCoopers, has
won an international award for
visual communications. The
‘Employability Skills Clinic’
(www.pwc.com/uk/eng/car-
inexp/student/employability.
html) has been viewed by over
38,000 people in six months
– one-tenth of the UK’s 2008
graduate population. The
films demonstrate how to
develop business-critical skills
in part-time jobs, sport and
volunteering, challenging
students to think beyond
academic achievement to
make themselves distinctive
to employers. The Clinic is
backed by a programme of
commercial awareness seminars,
as well as on-campus reception
evenings at universities.
04 SOUTH AFRICA
ON TARGET
South Africa will halve
unemployment by 2014,
despite rising job losses due to
the current economic downturn,
according to a government
minister. The country – which
is Africa’s largest economy –
faces unemployment of well
above 20% (around 4 million
people) over the coming months,
but officials are confident of
a rebound and recovery to
stay on track to meet targets.
Publicly-funded initiatives form
the backbone of schemes to
create jobs to stabilise the
economy, with the mining,
manufacturing, and car-making
sectors also targeted.

05 DOWNTURN
FUELS REGULATORY
RECRUITMENT
Regulatory and membership
bodies are bucking the trend
by continuing to recruit
professionals, according to
a new survey released by
recruiters Robert Walters.
Market turmoil has made it
easier for regulators to acquire
industry specialists who may not
have previously been attracted
by public sector opportunities.
Regulators have been able to
closely target candidates from
financial services sectors.
Sophie Younger, manager of
Robert Walters’ public sector
division, said, ‘As a result of this
continued demand, public sector
regulators are likely to have to
increase pay bandings to attract
well-paid industry specialists,
but we may also see industry
specialists lowering their
expectations to meet regulators
halfway. Pay is no longer
all-important; professionals
are also looking for security
and stability.’
06 CARIBBEAN OPTIMISM
Despite continued job losses,
the economy of Trinidad
and Tobago seems in better
condition today than it did at the
outset of the global economic
downturn. Finance minister Karen
Nunez-Tesheira told Trinidad
Express, ‘I think we are managing
well given all the circumstances.
I think every country is facing
a challenge and Trinidad is not
an exception in that way – but I
think we have done well given all
the circumstances.’
07 MORE FINANCIERS
MAKING CEO
The latest reshuffle of the UK’s
FTSE 100 index of largest listed
companies reveals that 12 of
the 15 CEOs appointed within
STUDENT ACCOUNTANT 05/2009
www.accaglobal.com/pwcemployability
CHINA HIRING
EXPECTATIONS HIGHEST
IN ASIA
With the global financial
crisis penetrating deeper,
hiring expectations in
China remain higher than
elsewhere in Asia – but
are nevertheless the
country’s lowest since the
end of 2001, according
to the latest report by
Hudson. In a survey of 843
organisations, 30% said
they planned to increase
headcount over the coming
three months – down from
34% the previous quarter.
But 21% intend to cut
jobs, more than double
the number of employers
planning such action last
quarter. Companies in the
consumer sector are less
likely to have implemented
cost-cutting measures
than those in other
industries, with only 37%
of respondents saying their
organisation has done so.
11
Add to your employability
CHINA the past 12
HIRING: months have
FACTS AND strong financial
FIGURES backgrounds.
According to recruiters
21% Robert Half Finance &
Proportion of Accounting, this suggests that,
manufacturing as the global financial crisis
companies in tightens, top firms are looking
China planning for leaders who bring strong
to recruit financial stewardship to the
role. The company’s analysis
61% also found that women remain
Proportion under-represented, with only
of Chinese four female CEOs (versus three
banking and this time last year), while, of the
financial 13 companies who joined and
services remained on the FTSE 100 in the
companies past year, 10 CEOs hailed from
planning to cut outside the UK, from countries
headcount ranging from Sweden to Syria.
The average age of a FTSE CEO is
26% now 52, an increase of one year.
Proportion
of Chinese 08 COMMITMENT-PHOBES
employers SHUNNED
which have Recruitment specialist Hays
sent out Accountancy & Finance has
‘reinforcement advised jobseekers in Australia to
messages’ demonstrate ‘real commitment’
from the CEO when applying for jobs. ‘When
to maintain markets are volatile, candidates
staff morale having difficulty obtaining a role
in their sector or at their level
of experience often gravitate
towards roles they consider
easier to secure,’ says Nigel
Heap, the company’s Asia
Pacific managing director. ‘This
has seen some candidates
applying for positions at a level
comparable to their recent
position, rather than making a
career move forward – and in
some cases even contemplating
a backward step. But employers
are just as reluctant to accept an
over-qualified candidate as they
are an under-qualified candidate.’
Hays says candidates without
long-term commitment are seen
as a risk, and that employers are
closely questioning motives in the
current market.
12 LEARNING CENTRE
Student Accountant would
like to hear from you if you
have recently changed jobs
or been promoted. Go to
www.accaglobal.com/
changingjobs and tell us
about your move.
MOVING ON
In the United Arab Emirates, ACCA
Qualification student Muhammad
Sibghatullah (pictured below)
has become an auditor at Talal
Abu-Ghazaleh & Co. International
Certified Public Accountants
and Management
Consultants.
Based in Ras Al
Khaimah, his main
duties include
auditing and
reviewing financial
statements,
performing analytical reviews,
drafting detailed management
letters to clients, identifying
control weaknesses and
recommending changes to
improve the systems and
procedures, planning and
performing reviews and audits,
and preparing audit summaries
and actions to take forward.
In Pakistan, ACCA Qualification
student Fawad Syed has become
a senior consultant at IBM in
Karachi. Fawad will act as team
leader during the implementation
of Oracle ERP.
In Nigeria, ACCA Qualification
student Abimbola Dodo joins
Entertainment Highway Limited
(HiTV) as a revenue accountant.
Based in Lagos, Abimbola will
be responsible for monitoring
and assessing all revenue
entries, monthly variance
reports, company cashbook
and warehouse reports, and
the resolution of uncaptured
payments and irregularities. Also
in Lagos, ACCA Qualification
student Solomon Olawale Ige
has become an internal auditor
at Promaxx Global Industries
Limited. In this new role, Solomon
will review the internal control
systems, carry out daily case and
stock counts, and write branch
audit reports. In Abuja, ACCA
Qualification student Olatunji A
Olayiwola has been appointed as
an accountant at Total Facility
Management Limited. His
duties include supervising and
coordinating accounting functions,
preparing monthly management
reports, managing tax issues,
liaising with external auditors,
and training accounts personnel
on the use of various accounting
packages. In Port Harcourt,
ACCA Qualification student
Matthew Enemona Ameh joins
Skye Bank plc as a credit analyst.
He is responsible for reviewing
credit proposal memorandums,
monitoring loans, ensuring that
credit facility proposals are within
stipulated authorisation limits,
monitoring compliance of credits,
tracking income, and monitoring
compliance to turnover covenants.
In the Maldives, ACCA
Qualification student Mahesh
Amarasinghe (pictured below)
has been appointed as chief
accountant at Aycan Private
Limited in Male. In his new
role, he will manage day-to-day
working capital, ensure that good
financial controls
and reporting
are in operation
throughout the
organisation,
provide support and
information to the
senior management
team, assist with strategic
development and planning for the
organisation, prepare monthly
management accounts including
narrative reports on budget
variances, ensure any surplus
funds are invested for best return,
review and arrange insurances,
prepare detailed financial budgets,
supervise and maintain sales
ledgers, purchase ledgers and
nominal ledgers, and liaise with
banks and external auditors.
In the UK, ACCA Qualification
student Jayrissa Thompson

became a finance administrator
at Emerge Recycling in
Manchester. Jayrissa’s
responsibilities include
maintaining a daily record
of financial transactions for
accounting purposes, carrying
out bank reconciliations,
preparing wages and PAYE &
VAT returns, including year-end
procedures, and managing
debtors and creditors accounts.
In her previous role, Jayrissa
was an internal auditor at
Equitable PCI Bank in Manila,
The Philippines.
PROMOTIONS
In Germany, ACCA Qualification
student Ilvina Irps (pictured
below) has been promoted from
credit analyst to commercial team
manager at GMAC
Financial Services
GMbH. Based in
Berlin, Ilvana now
works as a team
leader and will
help to ensure
performance
goals are met. She will also
train team members, carry out
analysis of new applications
for commercial credit, monitor
existing commercial credit
STUDENT ACCOUNTANT 05/2009
[[13
Changing jobs?
www.accaglobal.com/changing jobs
lines, interpret signs of
increasing risk, provide expert
recommendations to approval
authorities, and coordinate
SU DOKU
serious dealer situations. Difficulty rating
In the Maldives, ACCA
Qualification Student Abdulla
Shahid has been promoted from
accounts assistant to accounts
officer at Fathuru Maldives plc,
Male. In this new role, Abdulla
will be in charge of payroll,
he will also carry out daily
accounting transactions and
prepare quarterly and year-end
financial statements.
In Zambia, ACCA Qualification
student Clara Yamba has
been promoted from accounts
payable manager to financial
accountant at Sandvik Mining Difficulty rating
and Construction Zambia Ltd.
Based in Kitwe, Clara’s duties
include reconciling all sub
systems, posting all manual
journals, preparing monthly
reporting schedules, submitting
ICM and preparing reports as
per CPM requirements, inputting
all CPM-required information,
reviewing all balance sheets,
preparing monthly reports for
all cost centres, and answering
queries from cost centres and
head office.
14 LEARNING CENTRE
ONLINE
FREE STUDY
BOOSTERS
The internet is full of online
resources – much of which
will cost you nothing – so
check some of our favourite
student sites.
The many resources at
www.accountancystudents.
co.uk include technical
articles, a live chatroom,
job searches and study
blogs. There’s plenty of
ACCA-specific information,
including archived articles.
Experienced lecturers
write for www.passacca.
net. Resources include free
audio downloads – these
cover topics such as exam
preparation and technique,
as well as debriefs on
REVIEWS
past papers, conveyed
by discussions between
students and tutors, and
can be transferred on to
mp3 players and listened to
anywhere. Student support
includes recommended
reading and an interactive
system to find a study
buddy. But be warned, some
Professional level downloads
are paid-for.
At www.opentuition.com
there are free, detailed
course notes for most
Fundamentals and
Professional level papers,
intended to complement
official texts and especially
useful to distance learners.
You can listen to (but not
download) lectures, or join
in paper-specific forums.
The chatroom operates in
real time, with lecturers
occasionally popping in to
join the discussion.
BOOK
THE ELEMENT
BY KEN
ROBINSON
An acclaimed thinker on
issues such as leadership
and creativity, Ken Robinson’s
CV is awash with global
organisations and governments
which have soaked up his often
provocative but eminently
successful philosophy on how
we all develop as individuals.
In this book, he endeavours
to inspire the reader with
examples of those who are
‘in their element’ – from
stars of stage and screen to
leading businesspeople, from
sportsmen at the top of their
game to ordinary members
of the public who are leading
enriched lives because they’ve
identified what they’re really
passionate about.
The book isn’t so much a
‘how to’ guide; it’s more of a
‘here’s why’. Robinson’s on a
mission to convince the reader
that it’s not enough simply to
do something just because
you ‘can’ – instead, he offers a
‘richer vision of human ability’.
And while he’s clearly a
champion of the individual,
this is no book for the elite few
– in fact, Robinson recognises,
in the chapter ‘Finding Your
Tribe’, the importance of
building around you people
who share your passion. He’s
also careful to make several
points about standing up when
your values are challenged.
The book meanders slightly;
there’s a bit of long-winded
introspection (on, for instance,
the link between intelligence
and creativity), and some of
the ‘real life’ examples given
are of such truly exceptional
achievers that the average
reader could be left feeling a
little inadequate. And in these
times, the implication that you
can be in your element even
without earning money might
strike an unlikely note.
But overall, there’s plenty
of inspiring stuff here, from
how people have created their
own luck to how others have
harnessed their imagination to
achieve their dreams. The tone
is conversational, and there’s
little ‘management-speak’; in
fact, recreation and leisure
are considered as much as
professional and academic
interests. Exhaustively
researched and vast in scope,
it could be the perfect read to
help revitalise a flagging sense
of purpose.
¤ The Element: How Finding Your
Passion Changes Everything by
Ken Robinson with Lou
Aronica, Penguin, ISBN
978-1-846-14196-6
 STUDENT ACCOUNTANT 05/2009
15
Want to study ACCA for free?
Go to www.accaglobal.com/scholarship to find out about the
Simpson Scholarship programme

COMPOSE
WRITTEN ANSWERS
WHY IS IT THAT STUDENTS WHO HANDLE COMPLEX MATHEMATICAL AND FINANCIAL
PROBLEMS WITH EASE FIND THEIR MINDS GOING BLANK WHEN ASKED FOR ‘WRITTEN
ANSWERS’ THAT SIMPLY REQUIRE LOGIC AND REASONING, IN THE RIGHT ORDER?
MINUTES YOU’VE ALLOWED YOURSELF FOR EACH QUESTION.

Learning how to dissect ensure you use your 15 minutes errors include confusing terms
SIMPLICITY AND CONCISION ARE BEST. AND KEEP A BEADY

discursive exam questions, of reading and planning time – for instance, if you’re asked
EYE ON THE TIME – STICK TO THE ALLOTTED NUMBER OF
TRY NOT TO IMPRESS THE MARKER WITH LONG WORDS –

and how to structure and write in three-hour papers to allocate to compare two methods of
answers as ‘mini-essays’ has enough time for planning, writing calculating something, that’s
the potential to earn you stacks and revising. quite different from discussing
of marks. Read the question carefully the merits of just one of them.
Written answers will vary in and thoroughly. Before putting
length, dictated by the number pen to paper, ask yourself: Speak your mind
of marks indicated. Typically, what exactly is the examiner Examiners say students shouldn’t
examiners will be looking for you looking for? One of the most be afraid of giving their opinion
to explain what you understand common mistakes students if asked – in fact, if that’s what’s
about a given topic, including how make is to restate the question been asked, you really have no
you can integrate your knowledge in the answer – which, as well as option. Remember – failure to
in the context of workplace or wasting time, simply won’t pick provide an opinion will result in
‘real-life’ situations. You’ll often you up marks. Other no marks. But even an opinion
be asked for your opinion – and to common that’s at odds with the views
back it up with relevant facts. of the examiner may earn
Written questions are designed you marks if you can make a
to assess how you’ve assimilated logical argument, one that’s
your studies at a higher level than well-reasoned with good
simply memorising facts. So what examples to illustrate
you can’t do is attempt to earn your points.
marks by waffling, or by simply Try not to impress
churning out rote-learned lists. the marker with long,
By their nature, written convoluted words just for
questions take longer – so allow the sake of them – simplicity
for enough time to compose and concision are best. And
your answer, and build in time to keep a beady eye on the time
revise it later. It’s not unusual for – stick to the allotted number
inspiration to strike when you’re of minutes you’ve allowed
on another question, requiring yourself for each question.
rapid re-drafting of your original The most effective way to get
answer – and no-one wants to used to this is, of course, by
hand in scrappy work that’s practising with past papers
clearly been hastily written as under exam conditions. Ignore
the end of the exam looms. So them at your peril.
16 LEARNING CENTRE
PROBLEM SOLVED
3 THINGS YOU
SHOULD KNOW ABOUT
CAPITALISM
UNADULTERATED
The downturn has placed
capitalism under an often
unfavourable spotlight –
yet cultural and political
definitions of the concept
vary wildly. In its purest
sense, ‘laissez-faire’
capitalism’s first advocates
were the US founding fathers,
who held self-interested rights
such as life, liberty, property,
and the pursuit of happiness
as top values.
MIXED
Free markets are under fire.
But argument rages between
those who say economies
fail because of government
intervention, and those who
claim that more intervention
is needed. Interventionists
describe the existing ‘mixed’
systems as ‘free market’;
laissez-faire capitalists
describe mixed systems as
‘socialism lite’.
RADICAL
Businesses and the public
eagerly await the results of
government rescue efforts.
But free marketeers and
interventionists will both
continue to claim their
respective systems are the
best – and most promisingly
radical. When stability
is restored, capitalists
and socialists will remain
at opposite ends of the
philosophic spectrum.
STAYING IN
TOUCH
WHAT’S THE BEST WAY OF STAYING
IN TOUCH WITH THE JOB MARKET IN
THE CURRENT ECONOMIC CLIMATE?
IS IT WORTH EVEN REGISTERING
WITH AGENCIES?
It certainly is. While a number of employers
might try to avoid paying a placement fee and
instead rely on networks yielding plenty of
candidates, for many organisations, recruitment
agencies are an integral part of the HR mix, in
good times and bad. And recruiters will have their
ears closer than ever to the ground so as not to
miss out on opportunities for their candidates.
However, it’s true that most consultants will have
their hands somewhat full at the moment, with more
candidates registering for work, many of whom will
be facing unemployment for the first time in their
careers. This can create understandable tension,
with consultants under pressure to generate fees
while at the same time competing fiercely with each
other for dwindling numbers of available jobs. Add
into the mix a portfolio of jobseekers, all of whom
want their calls returned with progress reports on
vacancies, or who think they’re being passed up for
jobs they’ve seen on the agency’s website, and you
have a potentially explosive situation.
Set expectations – agree when and how often
you’ll make contact. In the current market, it may
not be feasible for your consultant to call you
daily (and in any case, their time is better spent
marketing your skills to employers). But ensure you
keep them posted with your whereabouts if you’re
temping, as well as updating them on any new
skills or software knowledge you’ve gained since
your first interview.
Do consider temping if you’re out of work – most
consultants should be fine about you taking time
off for permanent interviews, and besides, temping
gives you the perfect reason to stay in regular
dialogue with your agency.
Problems at work? e-mail
studentaccountant@accaglobal.com
 STUDENT ACCOUNTANT 05/2009
17

PER JARGON
BUSTER!
BY COMPLETING PER, YOU DEVELOP
THE SKILLS, ATTITUDES AND BEHAVIOURS
THAT YOU’LL NEED TO DEMONSTRATE IN
The ACCA Qualification is
A CAREER AS A QUALIFIED ACCOUNTANT. in a relevant job, you’ll be able each performance objective, via
made up of three elements – to let us know this when you the TDM.
exams, ethics, and experience, make your return. It helps ACCA Through the challenge
with practical experience ensure that you are on the right questions, you should be able
requirements (PER) the track to gaining membership, to summarise how you have
umbrella term used for the while helping you to record any achieved that set goal; your
‘experience’ element. experience you may have gained workplace mentor can evaluate
By completing PER, you throughout the year. It can be if the correct standard has been
develop the skills, attitudes completed online through the met. If your mentor signs off the
and behaviours that you’ll need TDM, and should only take a answers to all three challenge
to demonstrate as a qualified few minutes. questions for a performance
accountant, applying what you’ve objective, then that performance
learned though your studies Performance objectives objective has been achieved.
and ensuring you have the Performance objectives are goals
relevant skills and knowledge which are set for you by ACCA Workplace mentor
to meet different challenges in to demonstrate achievement in A mentor is an individual who
your career. the workplace. They all involve supports your development in
the types of work activities the workplace and reviews your
Trainee Development Matrix you will be involved in as a progress and achievement at
The trainee development trainee accountant, and set the work. Your workplace mentor
matrix (TDM) is the online standard of performance you should help you to identify
recording tool for your PER. It are expected to achieve to reach which performance objectives
is accessed though myACCA ACCA membership. you should aim to achieve, set
and will help you through You are required to achieve 13 targets in terms of performance
every stage of your PER – from performance objectives in total, and timescales, and provide
planning your development and it is your workplace mentor access to appropriate work
activities, targeting who decides when you have experience, such as job
performance objectives and achieved the performance rotations or project work. They
answering your challenge objective – not you. will ultimately review your
questions. It is the place progress and sign off your
to record your practical Challenge questions performance objectives.
experience achievements. Challenge questions are Your mentor should ideally be
the means by which your someone with whom you work
PER return performance objectives closely. More importantly, they
Each year, all ACCA trainees – are demonstrated. When should be a qualified accountant;
students and affiliates – must you think you have achieved if they’re not an ACCA member,
make a PER return to ACCA. your performance objective, they should be a member of
If you are a full-time you need to answer three another recognised professional
student or not yet working challenge questions related to accountancy or audit body.
18 LEARNING CENTRE
KATY
RAN TAO
ACCA blogger
Katy Ran Tao
from Singapore
decided to
pursue a
career in
accountancy
following a two-year management
training programme with a
multinational company in the
US. ‘I chose to study ACCA
because it is a truly professional
organisation with worldwide
recognition,’ says Katy, ‘and it
is open to anyone starting out in
accountancy.’
A recent prizewinner for
Paper F5 (with 90 marks), Katy
enjoys learning new things, and
feels that studying for the ACCA
Qualification provides a great
challenge because of the ‘ever-
changing environment, and the
dynamic nature of the syllabus.’
Katy is currently a full-time
student at London SAM, but
will shortly return to Singapore,
where in the future she hopes to
fulfil her ambition of becoming a
CFO of a medium-sized company.
Through her posts, Katy aims
to share her personal experiences
of studying; she welcomes
BLOGGERS
feedback and the opportunity to
make new friends. Throughout
the year, she plans to discuss
technical issues, exam stress,
and work/life balance among
other things.
When she is not studying,
Katy enjoys a particularly active
lifestyle. ‘My favourite pastime
has got to be playing sports,’ she
says. ‘I’m a big fan of regular
exercise because it keeps me
fit, releases tension and trains
my mind to be focused. I have
a pretty fixed schedule – I go
to the gym twice a week, play
badminton on Thursdays and
Saturdays, and visit the golf
driving range weekly.’
Katy is also passionate about
good food – especially desserts.
‘There’s nothing better than
going to restaurants with friends;
chatting about life over these
sweetest things is heaven,’
she says.
MOHAMMAD AZHAR AZIM
‘The flexibility offered by ACCA in
terms of exam progression and
practical experience certainly
sets it apart from the rest of the
accounting qualifications,’
says Mohammad Azhar
Azim from Pakistan, who
chose ACCA because of its
global reputation.
Azhar began studying ACCA in
September 2006, and has already
accomplished great things. In
only two years, he has achieved
the highest marks worldwide for
the Advanced Level CAT papers,
passed ACCA Qualification Paper
F4, Corporate and Business Law,
with 92%, and achieved the
highest marks worldwide for
Paper P2, Corporate Reporting, for
which he has been awarded the
Sir David Tweedie prize.
‘The most challenging part is
maintaining a work/life/study
balance,’ says Azhar, who partially
attributes his success to an ability
to prioritise. ‘You have to set goals
and stick to them if you plan

to become an ACCA member.’
He also recognises the positive
influence of his father, who is a
practising chartered accountant.
Currently an audit trainee with
Ernst & Young in Pakistan, Azhar
is certain that he will be able to
achieve the practical experience
requirements for ACCA
membership: ‘I believe they
are well tailored to the skills
acquired by students while
training. Already working with
an ACCA Approved Employer, I
have completed a few of these
and I am confident that I will be
able to achieve the rest in my time
as an audit trainee.’ He hopes
to build upon the skills and
expertise he gains at Ernst
& Young to fulfill his future
ambition of establishing his
own accountancy practice.
A novice to blogging, Azhar sees
it as a learning opportunity. ‘My
experience as an ACCA blogger
will aid my self development.
I trust there will be a lot to be
learnt from the whole process.’ He
hopes that students will benefit
from his observations, saying: ‘I
will be writing as much as I can
about what I have learnt during
my time as an ACCA trainee, and
I expect this will help those in a
similar situation.’
In his spare time, Azhar
plays guitar in a band, and is
passionate about making music.
‘It is by far the most satisfying
activity that I have ever engaged
in,’ he says, ‘It might be the
teamwork involved that makes it
so appealing; something about
the sound of various instruments
coming together in perfect
harmony that’s exhilarating, or the
thrill that comes with knowing it’s
something original you’ve created.
STUDENT ACCOUNTANT 05/2009
19
THE ACCA STUDENT BLOGS,
Most importantly, to present this Se Chai also works for a
to an audience – the adrenaline business consultancy partnership
rush when you step on to the in Johor Bahru, Malaysia. He is
stage with your band, knowing very definite in his career goals
that for the next 30 minutes or so and aspires to be a successful
all eyes are on you.’ value investment fund manager.
Already a blogger in his spare
time, Se Chai plans to address
numerous topics in his ACCA
blogs including ‘modern financial
AND ALSO ENTRIES BY ACCA PRESIDENT RICHARD AITKEN-DAVIES.
studies versus the concept of
value investing, goal setting
and motivation, and the role of
accountants and accounting
systems in the current financial
crisis.’ He hopes to inspire
others ‘to view things, including
accounting and financial knowledge
that they have gained, from a
practical viewpoint.’ He also looks
forward to receiving comments and
VISIT WWW.ACCAGLOBAL.COM/BLOGS TO READ
feedback from fellow students.
NGOI SE CHAI Se Chai’s positive attitude to
Ngoi Se Chai from Singapore work, life and study is defined
began his ACCA studies in June by this quote by SGI president
2007 and is currently sitting Daisaku Iked he would like to
the Professional level papers. share with readers: ‘Challenges
He chose ACCA because of give rise to a vibrant zest for
its global reputation. ‘ACCA is life, and succeeding in our
well recognised in many other challenges brings
countries. It has also provided immense joy.’
me with a strong foundation
in accountancy, finance and
taxation, which are vital for me
to pursue my future career in
fund management.’
The best thing about studying
the ACCA Qualification is that
‘it is fast, clear-cut and useful’
states Se Chai. But he is also
conscious of the need to put in
100% in order to succeed. ‘The
lecturer will never be able to
cover the whole syllabus – self
learning and self discipline are
vital.’ Se Chai’s efforts clearly
paid off, as he won the prize for
Paper F9 with 92 marks in the
June 2008 session.
20 LEARNING CENTRE
With a
family interest in maths, and
both parents working in finance,
ASAMOAH-AGYEPONG ODURO
it’s no surprise that ACCA affiliate
Asamoah-Agyepong Oduro chose
to follow accountancy as a career.
Asamoah reached affiliate status by
studying full time, demonstrating
an impressive level of dedication
which has gained him a string of
ACCA awards.
‘I studied mainly science at
secondary school,’ says Asamoah.
‘But my family has always been
AFFILIATE PROFILE:
interested in maths and finance.
My mother works in a financial
institution, and my father is a
chartered accountant and a lecturer
at Ghana’s prestigious Institute for
Professional Studies (IPS). It was my
father who introduced me to ACCA.’
Asamoah opted to study for
the ACCA Qualification full time,
taking his first exams in December
2004. To help him progress, he
enrolled part-time at Kumasi
Polytechnic, where, following the
December 2005 exam session, he
won the Ghanaian prize for the
highest score in Paper 2.3, Business
Taxation. In 2006, he won the prize
for highest Ghanaian score in both
Paper 2.5, Financial Reporting,
and Paper 3.2, Advanced Taxation.
‘ACCA NOT ONLY SHOWS THAT YOU ARE A
QUALIFIED ACCOUNTANT; IT IS A BRAND THAT
SYMBOLISES PRESTIGE.’
In December 2007, only three
years after he began his studies,
Asamoah finally passed his final
ACCA exams, also gaining the
prizes in Ghana for Overall Best
Affiliate 2007, Overall Best Affiliate
December 2007, and Best Male
Affiliate 2007, as well as winning
a further prize for Paper P7,
Advanced Audit and Assurance.
Although Asamoah has now
been an affiliate for over a year,
he has only just been able to plan
the next stage of his career: ‘As
WITH A FAMILY INTEREST IN MATHS, AND
BOTH PARENTS WORKING IN FINANCE, IT’S
NO SURPRISE THAT ACCA AFFILIATE
ASAMOAH-AGYEPONG ODURO CHOSE TO
FOLLOW ACCOUNTANCY AS A CAREER.
a graduate of a tertiary school in
Ghana, I had to complete one
year’s national service before I could
start work.
‘However, during this period, I
took the time to understand all the
ASOMOAH HAS REACHED AFFILIATE STATUS
BY STUDYING FULL TIME, DEMONSTRATING
AN IMPRESSIVE LEVEL OF DEDICATION
WHICH HAS GAINED HIM A STRING OF
ACCA AWARDS.
practical experience requirements
needed to progress to ACCA
membership. My plan is to join one
of the Big 4 audit firms in Ghana,
and once I become an ACCA
member, I will start an MBA
course, specialising in finance.’
Having been a dedicated
and highly successful student,
Asamoah’s advice to others is
particularly valuable: ‘You must
persevere, as the journey to
ACCA membership requires
dedication and a willingness to
forego some of your social life.
But remember that ‘all work and
no play makes Jack a dull boy’.
Effective planning is essential
to future success, and should
include a degree of flexibility, so
that you can still see family and
friends. Passing an ACCA exam is
no easy task, so you should also
treat yourself occasionally to those
things you haven’t been able to
enjoy because of your studies.’
Asomoah also advises seeking
help from other students and from
those with more experience: ‘An
individual cannot know everything,
and through teamwork, you can
gain new insights.’
Although ACCA was
initially recommended by
his father, Asamoah is now
similarly enthusiastic about the
qualification: ‘ACCA not only
shows that you are a qualified
accountant, it is a brand that
symbolises prestige,’ he says.

TALKING TECHNOLOGY
ALL TOGETHER NOW
Student Accountant looks at
unified communications, and the
potential to access voice, e-mail,
video, and data messages,
anytime, anywhere, and with any
device available.
When you want to communicate
with someone, it is increasingly
difficult to know where to begin,
or end. Many people have
multiple e-mail addresses and
multiple numbers for landlines
and mobiles, and you can end
up sending e-mails, texts, leaving
comments on Facebook or
MySpace, and making calls to
numerous telephone numbers.
It’s not ideal: it wastes time.
Multiply all of this by the number
of people in all but the smallest
enterprise, and the appeal of
something that can eliminate this
person-to-person latency quickly
becomes apparent. Hence the
growing popularity of ‘unified
communications’ – or UC – where
the worlds of business software,
the internet, and telephony
come together.
STUDENT ACCOUNTANT 05/2009
21
SUCH AS VOICE COMBINED WITH COLLABORATION SERVICES SUCH AS E-MAIL,
Technology research specialist replacing an analogue telephone
Forrester defines UC as ‘linked system with a digital, internet-
communications technologies enabled alternative, just as easily
FORRESTER DEFINES UC AS ‘LINKED COMMUNICATIONS TECHNOLOGIES –
– such as voice combined with as it can be about deploying a
ABILITY TO INTERACT WITH CO-WORKERS QUICKLY AND EFFORTLESSLY’.
collaboration services such as ‘shrink-wrapped’ UC package,
CALENDARING AND INSTANT MESSAGING – THAT IMPROVE WORKERS’
e-mail, calendaring and instant which solves a specific business
messaging – that improve problem by combining hardware,
workers’ ability to interact software, and services.
with co-workers quickly and Some of the associated
effortlessly’. But that’s the terminology can also be a
simple explanation. nightmare of confusion, because
The detail is more complex. ‘unified communications’
In the strictest sense, UC refers and ‘unified messaging’ are
to a defined set of platforms often used synonymously,
and protocols that can be used despite having slightly
to link existing applications, different meanings.
communications channels, UC is all about ‘presence’ and
and devices, and some very the real-time delivery of e-mail,
specific things must be achieved text and voice to the device
before the label can accurately that is closest to the intended
be applied. recipient at any point in time.
As with many technology So a call to a mobile phone can
buzzwords, you can find the be re-routed to a landline in
UC label attached to anything the office or a hotel, while texts
even remotely connected with and e-mails can be sent to your
communications, and it can smartphone. ‘Unified messaging’
also be defined from a software systems collect and queue
and hardware point of view, or messages from several sources
both. So UC can be about for retrieval at a later time. So
one person could access all of
their messages via Microsoft
Outlook, for example.
However, both UC and UM
have something in common; they
use technologies that change the
format of messages, digitising
voicemail and converting text
and e-mail into speech. In
theory, any message can be
delivered in any format to any
device, anywhere the intended
recipient happens to be. So,
almost any way you define it, the
unified approach promises some
big improvements on the current
situation – which could be good
news for all of us.
22 LEARNING CENTRE
ACCA CAREERS:
GENERAL ACCOUNTING ANALYST
NAME
MARZENA GORNIKOWSKA
JOB TITLE
GENERAL ACCOUNTING
ANALYST, GERMAN GENERAL
ACCOUNTING TEAM
EMPLOYER
ACCENTURE EUROPEAN SERVICE
CENTRE, DUBLIN, IRELAND
ACCA student Marzena
Gornikowska had already gained
significant work experience while
still a student, before starting
her ACCA studies when she
moved from her native Poland
to Ireland. ‘I felt a professional
qualification would help me gain
more knowledge of accountancy
and further develop my career,’
she says.
‘I chose ACCA because it is
the most widely recognised
accounting qualification. I also
liked the syllabus and felt that
the exams were very practical,
preparing you for the real
situations and problems you
encounter at work.’
Marzena graduated from
Krakow University of Economics
in 2006 with a Masters degree in
Finance, simultaneously gaining
a BA in Business from Dutch
university Avans Hogeschool.
While still studying, she worked for
consulting firm Capgemini Poland:
‘I was part of an outsourcing
team, working in the receivables
department of an American
company. Capgemini offered
good conditions for students,
including flexible working time, so
it was a great opportunity to gain paid by my employer, I have study
THAT THE EXAMS WERE VERY PRACTICAL, PREPARING YOU FOR THE
some experience in finance and leave, and can join study groups
REAL SITUATIONS AND PROBLEMS YOU ENCOUNTER AT WORK.’
accountancy before graduating. I organised by Accenture.’ And her
also improved my English and my progress with ACCA has already
IT skills while working there.’ helped her career development:
ACCOUNTING QUALIFICATION. I ALSO LIKED THE SYLLABUS AND FELT
After Marzena graduated, she ‘My first role within Accenture was
decided to continue her career in the receivables department. I
abroad, taking up a post with started my ACCA studies shortly
another major consulting firm, after I joined, and after passing
this time Accenture in Dublin, my first two exams, I successfully
‘I CHOSE ACCA BECAUSE IT IS THE MOST WIDELY RECOGNISED
in October 2006: ‘I wanted applied for my current role. I
to gain some international have received excellent training
experience,’ she explains. ‘I chose at Accenture, improving my
Ireland because of the business knowledge and skills, and my
opportunities on offer, and also colleagues have been very helpful
because of the countryside and responsive.
and landscape.’ ‘I aim to finish my ACCA
Marzena now works in the studies in 2009 and, in the longer
German General Accounting term, return to Poland. I hope
Team. ‘My role is to handle my ACCA Qualification will be
general ledger processing an advantage there. Accenture
within specific service levels, in offers great opportunities for
a multi-lingual service centre qualified employees, so as soon
environment. Among my many as I become an ACCA member
tasks, I help prepare monthly US I will continue to develop my
GAAP management accounts and career here.’
perform balance sheet account
reconciliations. I undertake a
monthly analysis of the profit and
loss account, balance sheet, and
intercompany and revenue figures.
I also report quarterly to our head
office in Chicago on balance sheet
deliverables to ensure compliance
with US GAAP, and handle
intracompany accounting and
the corresponding SOX controls.
This year I also assisted with
the preparation of the statutory
accounts for Accenture Germany.
Marzena first found out about
ACCA when she joined Accenture:
‘The firm strongly encourages
finance staff to study for the ACCA
Qualification, and I have a great
study package. My exam fees are
 STUDENT ACCOUNTANT 05/2009
25
Student Accountant is going digital
Read more on page 80

MAKING
WOMEN COUNT
In the late 1960s, feminism
was radicalising women
across the world, and in
1970, Germaine Greer’s
The Female Eunuch
became an international
best seller, but many
institutions were slow to
change. ‘ACCA Council
was self-generating and
it was difficult to get an
outsider accepted,’ recalls
Vera di Palma, FCCA,
‘and we put the names of
female members forward
for election two years
running, with no success.’
But members of the
Certified Accountants
Women’s Society were
hungry for change, and
in 1971, they decided to
make a concerted effort. ‘At
the time, ACCA had about
12,000 members, and we
had to communicate with
them all by post,’ explains
di Palma, and cover all
of the associated costs.
‘We had to self-finance
everything, and pay for
the postage ourselves,’
she says.
It was worth the
effort, and in 1971 Vera
di Palma (below right)
became the first female
Council member. ‘It was
an interesting time,’ she
says, recalling ‘a lot of
controversy’ on Council and
at the first ACCA annual
general meeting after
her election. But change
can be like a snowball,
and once you start rolling
it downhill, it’s hard to
stop: by 1978, she was
elected as the first female
Council vice president
and in 1980 she became
its first president too.
26 WOMEN AT ACCA
‘CHALLENGING THE ESTABLISHED WAY, AND FOCUSING
ON TALENT AND ABILITY, HAVE SHAPED THE HISTORY
OF ACCA, AND DRIVES ITS MODERNITY TODAY.’
HELEN BRAND, ACCA CHIEF EXECUTIVE
DOING A BALANCING ACT
‘ACCA is an extremely attractive
qualification for women,’ suggests
Helen Brand, ACCA chief executive.
The proportions are very high in regions
including Central and Eastern Europe,
Malaysia and Singapore, they span a range
of social and ethnic backgrounds, and their
ages vary widely. ‘We have a lot of mature
female students who decide to study with
ACCA after taking a career break,’ she
reports, ‘and they are very successful.’
Being a qualified accountant offers
a route to financial security and career
fulfilment, and the flexibility to balance
the challenges of the workplace with
the demands of family life. ‘I think some
people feel that women need to make a
choice between the two,’ says Brand, but
for many this has never been an issue, and
the current economic climate is increasing
the numbers who have no choice but to
rise to the challenge. ‘Very often, women
need to work to feed their children and put
a roof over their heads,’ she adds, so they
just have to manage the best they can.
At 43, with two young daughters, Brand
knows about balancing the challenges of a
career with the demands of family life.
of Sabah. ‘Being one of the very few
women practitioners in Sabah shows
that ACCA has indeed put its objectives
into practice,’ she says, adding:
‘There has been no gender bias, even
though the accounting field is still
dominated by men.’
So Chin has been able to excel in
her career – becoming an FCCA and
a partner in a firm by the age of 30 –
and has helped shape the direction of
ACCA. ‘I am proud and greatly humbled
to be able to represent my fellow
professionals,’ says Chin, a member of
ACCA Council who served as president
of ACCA Sabah from 1999 to 2004,
and as an International Assembly
member from 2003 to 2005.
Gill Ball has also mixed her career
with membership of ACCA Council.
‘I became the finance director at
Birmingham University in 1995,’
she says. There, she is responsible
for its short and long-term financial
planning and security, and in 2007,
she was elected as president of ACCA
Council. ‘The President is elected
by the members, which makes the
role very special,’ says Ball. ‘It is
a great responsibility to represent
them by engaging with policymakers,
government officials and a wide
range of other stakeholders around
the world.’
But almost 30 years after di Palma
was elected the first female ACCA
president, Ball was still only the third
woman to take on the role. You’re
aspiring accountants, so you can do the
maths: this leaves 26 years when the
ACCA president was male. If you think
this seems disproportionate, then,
when you eventually pass your ACCA
exams, you need to stand up and be
counted – and don’t forget how much
time and effort other people have put
into creating a world where you have
the opportunity to do so.
Leading by example
‘Challenging the established way, and
focusing on talent and ability, have
shaped the history of ACCA, and drives
its modernity today,’ says Helen Brand,
who became chief executive of ACCA
in June 2008. ‘It’s an inspiring place
to work, and if you are talented, you
will flourish,’ she says, relishing the
opportunity to lead the organisation.
‘We have grown a great deal over the
past decade,’ says Brand, ‘so now is
the time to take stock and make sure
that we are fit for the future.’
ACCA Council recently approved a
strategy for the organisation to 2015,
and Brand has to turn this into results. ‘I
like achieving things,’ she says, not even
remotely phased by the challenge. But
she has been with ACCA since 1996, and
before becoming chief executive, she
spent five years in important global roles
as managing director of operations,
then strategy and development, so she
has a deep understanding of ACCA
stakeholders in many regions, and is not
new to leadership.
Some might see running a global
accountancy body, with a £100m
turnover and nearly half a million
members and students around the
world, as an awesome responsibility;
for Brand it was the ‘next staging post’
in her career, and she is enjoying the
experience. ‘Nobody can moan about
being a chief executive,’ she enthuses,
and so far, she can’t find a downside.
‘If you have been thinking about what
you would like to do for a long time,
then putting your plans into action is
a very positive thing,’ she explains. ‘It’s
very exciting.’
‘ACCOUNTANTS CAN
HELP BUSINESSES TO
SURVIVE, AND HELP THEM
TO FLOURISH WHEN THE
UPTURN COMES.’
28 CAREER OPPORTUNITIES

When one door closes, another one opens, and

the economic downturn could prove a rich source
of career opportunities – if you know where to
look. Student Accountant examines the changing
recruitment marketplace.

redit squeeze. Credit crunch. Let’s start with the downside – things

C Global financial meltdown.

Whatever you want to call it,
the world is trying to come
to terms with the impact, locally
and internationally, of the economic
downturn. And on personal and
professional levels, even the most
optimistic student accountant may
struggle to see beyond the doom
and gloom. But as with many
apparently disastrous scenarios, the
current crisis brings both bad news
and good news.
can only get better. The global financial
services industry is going through a
period of unprecedented change: it will
be some time before it recovers, and by
then, it may well have changed beyond
all recognition.
Commercial and not-for-profit entities
are reeling from the impact: sources
of liquidity have evaporated, economic
growth is slowing, entire industries are
being decimated, and the financial jobs
market is shrinking. But perspective is
everything, and there is an upside.

Members of the accountancy
profession are reassuringly
well-positioned to survive the downturn,
and to thrive when the upturn emerges
– as it inevitably will. The landscape
of the financial job market may be
changing, but while demand for some
roles is declining, for others, it is
rising, and smart student accountants
will position themselves to exploit the
career opportunities this presents.
Bend in the wind
‘If you are a part-qualified already
working in a finance team, the current
climate may present you with the
chance to take on tasks that you
would not have been offered before,
without the need to change employer,’
suggests Mark Thomas, associate
director with the international recruiter
WH Marks Sattin. ‘At present, a lot
of organisations have restrictions on
hiring, so employers are more likely to
recruit internally. Therefore, you may
want to diversify your skills set within
your current organisation before you
think about moving elsewhere.’
Finding a job with a new employer
will be more difficult during 2009
than it was in 2008, but it is far from
impossible. ‘There are still decent
jobs for part-qualified and finalist
ACCAs,’ reports Thomas. ‘Many
organisations with positions to fill
would consider recruiting a candidate
who has the required qualifications
but lacks practical experience, and
then provide them with the necessary
training on the job. Employers get the
benefit of strong theoretical knowledge
without so much practical experience,
which is often more cost effective,
and the candidate gets the chance
to obtain the relevant experience
required for membership. So it’s a
win-win situation.’
But there’s no getting away from
the fact that there are fewer jobs on
the market than there were a year or
even six months ago. ‘Lots of good
people who might otherwise be open
to opportunities are staying where they
are,’ says Thomas.
STUDENT ACCOUNTANT 05/2009
The economic uncertainty means
people are placing a higher value on job
security – and this has a knock-on effect.
‘Where finance people have jobs, they
are staying put, so there are fewer
openings for others to move into,’ says
Abigail Stevens, managing director of
the international recruiter Think Global
Recruitment (TGR). The power has
swung away from jobseekers towards
employers. ‘The market now is employer
driven; not candidate driven,’ she adds.
This means finance professionals will
have to work a lot harder to find the
roles they’re looking for, to increase their
chances of being selected, as Richard
Park, head of international business
with the financial recruiter Martin Ward
Anderson, confirms: ‘A year ago, the
market was totally candidate-driven, but
employers now are being more picky
about who they recruit.’
Rise to the challenge
This creates new challenges for student
accountants. ‘In a candidate-driven
market, employers don’t expect to find
someone who ticks all of the boxes
on their wish list,’ explains Thomas,
who says that until the downturn,
organisations were happy to recruit
somebody who could deliver on five or
six out of 10 criteria. Now they have
higher expectations: ‘They may want
to see eight, nine, or even 10 out of
10 boxes ticked,’ he adds. ‘If you want
to find your dream job, you’ll need to
do more than simply pass your exams
and get your three-years’ practical
experience signed off.’
As well as being much more
competitive than it has been for many
years, the financial job market is
slowing down. ‘A year ago, if a decent
FORTUNATELY, SOME TECHNICAL AND PRACTICAL
SKILLS ARE PROVING TO BE PARTICULARLY
RECESSION-PROOF. CREDIT CONTROL, PROCUREMENT,
RESTRUCTURING, OUTSOURCING, AUDIT AND OTHER
TYPES OF COMPLIANCE WORK ALL SEEM TO BE
WEATHERING THE STORM.
29
HOW
TO SELL
YOURSELF
The ‘war for talent’ is
over, and if you want to
advance your career, you will need to sell
yourself to potential employers. ‘Make
sure that your CV lists your achievements,
and shows what you have done to really
add value,’ advises Claire Cuthbert, a
manager at Euro London Appointments.
If you are applying for positions online,
tailor your CV to each application and
ensure you match the requirements and
competencies needed for the role. Then,
if the employer is using an automated
screening process, you can be sure that
your CV will at least get looked at.
Play to your strengths. If you are
sociable and empathetic to other people’s
views, this can show that you are a good
team player who can liaise with people at
different levels. If you pride yourself on
never being late, this can demonstrate
that you will go the extra mile to
meet deadlines.
If you tend to be a bit forgetful and can
only function if Microsoft Outlook provides
a steady stream of reminders, use this to
demonstrate that you are an organised
worker with plans and deadlines – and
show an employer that you are capable
of developing a positive strategy to
overcome your weaknesses.
‘At interview, focus on achievements
in your last role rather than just
responsibilities,’ suggests Cuthbert. Did
you come up with any problem-solving
ideas, save the company money, or
streamline a process to make it more
efficient? ‘Try to list at least two or three
achievements for each position you have
held,’ she adds, and always emphasise
the positive.
30 CAREER OPPORTUNITIES
newly-qualified ACCA came to the UK
looking for work, they could expect
to land an assignment in one or two
weeks,’ recalls Thomas. ‘Now, there
is more competition for places, and
rates of pay have lowered,’ he adds.
The time taken to secure a permanent
assignment has also lengthened. ‘There
is still a lot of temp work,’ he reports,
although the roles tend to be for clearly
defined projects with finite timescales.
Opportunities for accountants to
work abroad are also less plentiful
than previously, as Park explains: ‘Take
the Middle East, for example. If you
went back 12 months, the market was
very open in terms of international
candidates. Now, employers are more
likely to recruit locally.’ But not all
countries in the region have been affected
to the same degree. ‘Dubai has been
very severely hit because of its lack of
oil and reliance on the property sector,’
he adds, ‘but Qatar, Oman, Saudi Arabia
and Abu Dhabi are all doing relatively
well, and there is quite a lot going on.’
In some regions, the way in which
employers are advertising jobs and
finding candidates is also changing. ‘In
2008, my clients couldn’t find enough
candidates, so there was intense
competition for the best recruits,’ recalls
Fiona Porter, a director with Whirlwind
SHORT-TERM POTENTIAL
If you are looking for career opportunities
in 2009, temporary posts and project work
merit careful consideration. Companies
that are unable to add full-time employees
during periods of economic uncertainty
often bring in professionals on a
temporary basis. As a student accountant,
these temporary roles can offer you the
chance to develop valuable skills, gain
practical experience, and increase your
Search, a recruiter for the financial
services sector in Russia, the US and the
UK. ‘Now, many employers aren’t even
bothering to use recruiters,’ she adds;
instead, they’re turning to websites
such as www.headhunter.ru. ‘In Russia,
there is a larger chance of people
being successful if they go directly to
prospective employers,’ she suggests.
Maximise your opportunities
So if you want to appeal to a new
employer in the current marketplace,
what must you do to stand out against
the competition? ‘At the moment,
candidates need to be open-minded, and
present themselves more professionally,’
explains Park. Your CV will need tailoring
to each employer’s needs much more
closely than previously, and it should
marketability, as well as helping you to
build a valuable network of contacts.
According to Max Messmer, chairman
and CEO of Robert Half International,
what starts as a project role may turn into
a full-time position. ‘Businesses frequently
draw from the ranks of their temporary
staff when making new hires,’ he says,
‘since both parties have had the chance to
evaluate whether the position is a fit.’
demonstrate your strengths and your
ability to add value very clearly (see
‘How to sell yourself’).
And Park suggests that you focus
your efforts on acquiring the sorts of
skills and experience that are most
transferable. This can be easier said
than done, of course, until you know
what those skills are. ‘It’s important to
get any people management experience
you can,’ he advises, ‘so that you
can showcase your communications
strengths, interpersonal skills and your
organisational abilities.’ According to
recruiters, employers will also be more
impressed by finance professionals
who have augmented their technical
expertise with soft skills, in areas such as
negotiation, networking and presentation,
while language skills can also be a boon.

‘European employers are still looking
for candidates with language skills,’
says Stevens. English may be the
international language of finance, but
if you can offer a European language,
such as German, Spanish or French,
you will dramatically improve your
employability. ‘The big multinationals
are still moving people between
countries internally, but it will be
six to 12 months before they need
to do more external recruitment,’
she believes.
Look for bright spots
Fortunately, some technical and
practical skills are proving to
be particularly recession-proof.
Credit control, procurement,
restructuring, outsourcing, audit, and
other types of compliance work all
seem to be weathering the storm.
‘Internal audit is a relatively busy area
[read more on page 42], for permanent
positions, while the public sector remains
buoyant, and has a particularly strong
contractor market,’ reports Thomas.
‘Statutory reporting is also an area with
healthy job prospects,’ he adds.
Other recruiters are also seeing
strong demand for those with
experience of national GAAP (Generally
Accepted Accounting Principles)
STUDENT ACCOUNTANT 05/2009
and IFRS (International Financial
Reporting Standards).
‘There is still a global shortage of
people with IFRS skills,’ confirms
Park, ‘as well as corporate recovery
and insolvency.’ Stevens adds
actuarial roles to the list, as large
corporates increasingly prioritise
risk management. The public and
not-for-profit sectors are also offering
reasonable recruitment prospects; while
the global downturn is affecting a few
industries far less than most.
‘Some industrial sectors are naturally
more resilient,’ says Park, citing
drink, gambling and tobacco, and
although the retail sector overall offers
fewer career opportunities than usual,
both nationally and internationally,
many providers of fast food and
low-cost goods and services are
thriving. Most countries can also expect
THE LANDSCAPE OF THE FINANCIAL JOB MARKET
MAY BE CHANGING, BUT WHILE DEMAND FOR SOME
ROLES IS DECLINING, FOR OTHERS, IT IS RISING, AND
SMART STUDENT ACCOUNTANTS WILL POSITION
THEMSELVES TO EXPLOIT THE CAREER
OPPORTUNITIES THIS PRESENTS.
[[2r]]
31
their domestic
tourist industries
to improve
during a recession,
because people visit local
tourist destinations rather than flying
off to exotic locations, so there are
possibilities in this area too.
It seems clear, that what’s bad
news for one individual, organisation,
or industrial sector is often good
news for another. So no matter what
happens, try to stay positive, maintain
a constructive and optimistic outlook,
and be flexible. You may need to
take a more innovative approach to
developing your technical skills, gaining
practical experience, and identifying
job possibilities, but as long as you
do, your ACCA qualification can still be
the key that opens a door on a world
of opportunity.
ACCA ACHIEVEMENT AWARDS: 2008 WINNERS

32
BOEN ENG TAN

PROFILE
ICPAS PRESIDENT, SINGAPORE
oen Eng Tan has enjoyed a long and distinguished career at the forefront of

B the accountancy profession, both in his native Singapore and internationally.

Mr Tan spent 36 years at the Inland Revenue Authority of Singapore (IRAS),
attaining the position of senior deputy commissioner before retiring in
1992. Among many other roles taken on since leaving IRAS, Mr Tan has been
chairman of the Securities Industry Council – the watchdog of the securities
industry, president (from 2000 to 2001) of the ASEAN Federation of Accountants,
and board member of the Accounting and Corporate Regulatory Authority; he is also
currently a member of the CPA (Certified Public Accountants) Australia Committee.
Mr Tan was elected to the Council of ICPAS (Institute of Certified Public
Accountants of Singapore) in 1984, before becoming president in 1995, a position he
has held ever since. Despite being in retirement for over 14 years, he shows no sign of
slowing down: ‘It is indeed an honour to receive the ACCA Achievement Award. I hope
to continue to make contributions to the accountancy profession,’ he says.
Under his guidance, ICPAS has grown from strength to strength, and currently
boasts an unprecedented membership body of more than 20,000. Mr Tan has been
an outstanding ambassador for the Institute, maintaining dialogues with regional
and international bodies, as well as attending many meetings and events at
home and abroad. Through Mr Tan’s tireless efforts, ICPAS now has an enviable
reputation as a modern, independent, and highly respected professional body.
Mr Tan’s presidency coincided with a period of unprecedented change for
the profession, and in particular, the challenge of harmonising standards.
Under his leadership, ICPAS played a role in enabling Singaporean standards
to harmonise with international standards – this is still an ongoing task, now
handled by a standard-setting body, but ICPAS remains closely involved in
the project.

‘THE CHALLENGE FACING THE PROFESSION, NOW

AND IN THE FUTURE, IS TO DEFINE THE ROLE
THAT IT PLAYS IN THE GLOBAL ECONOMIC AND
FINANCIAL ENVIRONMENT. IN THE CURRENT
FINANCIAL SITUATION, THE PROFESSION NEEDS
TO DECIDE WHAT IT MUST DO TO HELP SOLVE
PROBLEMS ENCOUNTERED BY MANY COUNTRIES.’
 During his presidency, Mr Tan has also been instrumental in
promoting the Singapore accountancy profession to an international
audience, achieved though a series of mutual recognition agreements
(MRAs). ‘MRAs certainly help the regional and global development
of the profession,’ comments Mr Tan. ‘As business becomes more
global, there should be a free flow of expertise and professionals
between countries, a flow which should be commensurate with that of
investments and trade. Therefore, in my opinion, the profession should
work towards achieving MRAs.’
ICPAS signed its first MRA, with CPA Australia, in 2004, and a
further MRA was signed with ACCA in 2005, a significant step towards
international recognition of the designation awarded by ICPAS of ‘CPA
Singapore’. This also demonstrated ICPAS’ public support for, and
confidence in, ACCA. ICPAS continues to play a critical role in the delivery
and assessment of ACCA qualifications, with the institute’s training arm, the
Singapore Accountancy Academy, continually running and supporting ACCA
and CAT programmes. As a result, a record number of students in Singapore
now opt to study for the ACCA Qualification in order to realise their ambitions
of becoming professional accountants. ‘ACCA has always been a progressive
professional accountancy body,’ comments Mr Tan, ‘and one that is extremely
international in its outlook. In my opinion, ACCA’s influence is far-reaching
globally and therefore ACCA membership is a great asset to anyone.’
Mr Tan has also overseen the signing of agreements of cooperation with

STUDENT ACCOUNTANT 05/2009

accountancy bodies in Vietnam, Cambodia, and China, leading to better
relations within the Asia Pacific region, as well as promoting the Singapore
accountancy profession. Further promoting the profession, Mr Tan oversaw
the launch of ICPAS’ own professional examinations, and in 2006, ICPAS

www.accaglobal.com/achievement
signed a memorandum of understanding with UniSIM, a local private
university, to collaborate in the development of training and continuing

Find out about the winners

professional education. The shortage of accountants in Singapore has
long been recognised as a problem, and Mr Tan played a significant role
in supporting the launch of the ICPAS–ACCA Joint Examination Scheme
(JES), which gives anyone with the talent and ability the opportunity to
qualify as a professional accountant.
Mr Tan sees ICPAS and ACCA continuing to play an important role
as the profession evolves: ‘The challenge facing the profession, both
now and in the future, is to define the role that it plays in the global
economic and financial environment. In the current financial situation,
the profession needs to decide what it must do to help solve the many
problems being encountered by many countries.’
Mr Tan is one of the accountancy profession’s best-known
leadership figures – and recognises the role ACCA has
played in grooming leaders: ‘Strategic vision is critical for
any leadership figure,’ he says. ‘Softer skills such as
communication and people management are also very
important, especially as human capital management
is key to any business these days. ACCA
provides a good foundation of technical

33
skills, but also enables the individual to
become a more rounded professional.’
34 NGOs

NGOs: A CREDIT
CRUNCH CAREER
SOLUTION?
Michelle Perry outlines an alternative path to career development when
full-time or permanent jobs are scarce.
 35

he prospect of an

T unprecedented economic
downturn probably never
factored in your decision to train
as an accountant. But that’s the harsh
reality for many trainee accountants
who, because of the recession, now
face a bleaker outlook.
Gone are the days when, having
passed your finals, hordes of recruiters
would beat a path to your door,
promoting lucrative job opportunities.
However, employers are becoming
more innovative and forward-thinking,
compared to previous downturns,
with many putting staff on reduced
hours or even sabbaticals, due to
urgent needs to cut costs while not
suffering the loss of the intelligence
and knowledge that accompanies
redundancies. Although this might not
suit everyone, the result could turn out
to be an unexpected opportunity. You
can, if you’re prepared to broaden your
horizons, turn the recession to your
advantage by gaining experience in a
sector that would perhaps otherwise go
overlooked – charities.

Helping hands: Mango’s work to improve

financial transparency can lead to wiser
spending of funds for charities such as SPW
36 NGOs
Mango, which matches financial
professionals with not-for-profit
organisations, has been enjoying
a surge in interest from young
accountants since the beginning of
the year. NGO work presents excellent
opportunities to develop your financial
acumen when more conventional
routes for career development are
temporarily closed.
Since Mango was set up, in 1999, all
the Big Four have worked closely with
the charity to offer staff a chance to
go on secondments. The relationships
are now proving even more beneficial,
with firms redeploying staff rather than
losing them, while filling gaps in the
financial knowledge of charities.
DON’T BE OVERCOME BY THE WARM SENSE OF
WELL-BEING THAT MAY WASH OVER YOU IF YOU’RE
APPLYING TO WORK WITH CHARITIES. THE WORK
IS HARD, AND YOU MAY BE PLACED IN AN
UNDERDEVELOPED COUNTRY FACING SOCIAL OR
ECONOMIC UPHEAVAL.
‘We have received an increase in
speculative calls,’ says Lucy Markby,
Mango’s recruitment director. ‘People
are exploring NGO work as a possibility
to use their skills and gain a different
type of experience, or fulfil their
long-held ambitions.’
Mango was founded to help build
trust in charities’ financial management
by offering practical services, such as
financial training and recruitment. ‘It’s
a win-win situation,’ adds Markby.
Short- or long-term
The opportunity to gain some
experience abroad, working with a
charity and developing your skills set,
could be the chance you’re looking for.
Even if working for a charity hasn’t
previously appeared on your radar, it’s
worth considering the options.
The length of each assignment
depends on candidates’ experience
and skills, and how much time they
want to commit. If you have no prior
charity experience, it’s advisable to
try a secondment of a month to six
weeks to see how you fare. If you
can afford the time, there are many
short-term, expenses-only opportunities
with international charities to give you
a taster.
Usually, though, organisations want
a minimum six-month commitment;
learning curves are steep and most
charities dedicate considerable time to
induction, so short-term assignments
provide little return on that investment.
A 12-month contract is the ideal duration
for both candidates and charities. Indeed,
Mango says that typically, people want
to extend their commitment to two
years. ‘People come back from a short
secondment opportunity with a very
positive experience, and then decide to
commit longer-term,’ says Markby.
Satisfaction
Job satisfaction runs high in the
charity sector, not just for the obvious
philanthropic reasons, such as
supporting communities, providing
better conditions and even saving
lives – but also because of the drive to
improve financial transparency. Over
the past decade, there has been a
strong push for greater professionalism
of charity finance. The public, although
happy to give, wants to know their
donations are well-spent, and you, as
a charity finance professional, play a
significant role in achieving that goal.
Improved transparency leads
to better resourcing and financial
management, and, therefore, more
money to spend on the things that
matter to charities. Whether that’s
improved or greater education
opportunities, or better hospitals, the
aim is the same; to improve the lives of
those less well-off.
Carys Hughes is currently on
a six-month secondment to Save
the Children in Rwanda from
PricewaterhouseCoopers’ Cardiff
office. She says: ‘I would definitely
recommend it – even though it utilises
my skills at PwC, the demands are
quite different, especially from a
personal skills perspective, such as in
people management, diplomacy and
teamwork. It has challenged me as a
person, and it’s satisfying to see even
the simplest recommendations making
a difference.’
Home comforts
Don’t be overcome by the warm
sense of well-being that may wash
over you if you’re applying to work with
charities. The work is hard, and you
may be placed in an underdeveloped
country facing economic and social
upheaval. Many things that are
taken for granted in the industrialised

world, such as water and electricity,
aren’t as dependable everywhere.
Jonathon Quick, ACCA qualified,
is three months into his posting as a
finance manager in Sierra Leone for
youth charity SPW. He says: ‘The main
issues are access to electricity and
water. Most areas of Freetown only get
electricity for a few nights each week,
so they rely on generators much of the
time. Water is less of a problem, but
not all properties have a mains supply,
so they need to get water delivered.’
That said, Quick does have the
weekends to enjoy the crystal-clear
waters and unspoilt local beaches nearby,
and he says the social scene is vibrant.
In charge
The one great benefit of working
for a charitable organisation is the
breadth of duties. Quick says his
days are extremely varied, because
of his responsibility for the office
administration as well as accounting.
‘This means I can get into detailed
conversations about vehicle servicing,
office maintenance, procurement, and IT
issues,’ he says. ‘But the main challenge
is producing reports for different donors.
There are larger tasks requiring a degree
of project management, such as the
implementation of new accounting
software, introducing new systems to
improve controls, and staff training
and development. Finally, I get to be
involved in the management of the
charity, being an integral part of the
decision-making process, and helping to
ensure we maximise our impact with the
available resources.’
So, NGO work may not have been on
your agenda for the immediate future –
but some opportunities just shouldn’t
be passed up.
STUDENT ACCOUNTANT 05/2009
CASE
STUDY:
JONATHON
QUICK
Three
months ago,
Quick left his
accountancy
job in the UK, to take up the post
of finance and administration manager in
Sierra Leone with Student Partnerships
Worldwide (SPW), via Mango. He wanted
a new, different challenge, realising a
lifelong dream to work for a charity.
Mango was impressed with his range
of transferable technical skills, as well as
strong interpersonal and teamwork skills.
He had also travelled independently,
and worked abroad in Australia, giving
him a valuable insight into operating in
different cultures.
SPW manages projects such as training
young adults in Sierra Leone as volunteer
peer educators, as well as increasing
knowledge and awareness of diseases
such as HIV/Aids. Quick says, ‘SPW is
an exciting, worthwhile NGO, a pioneer
in the current shift towards youth-led
development, where young people are
agents of change.
‘Working here has been fantastic, if
extremely challenging. There’s a lot of
enthusiasm for improving the organisation’s
financial management, but little experience
of how to go about it. In the private sector,
it can take
a long time
to implement
changes; here,
I’ve had more
opportunity
to make an
impact than
any other role
I’ve had.’
37
CASE
STUDY:
CARYS
HUGHES
Hughes
began working
with Save
the Children
in Rwanda, as she wanted to deal
with demands and priorities that were
different to those she was used to in the
private sector. Moreover, she wanted
to lend her expertise, developed at
PricewaterhouseCoopers, ‘to an NGO that
may otherwise not be able to afford or
access those skills’.
Culturally and
emotionally, she
says it’s been
challenging – but
also rewarding. As
a financial adviser
to the Rwanda
programme, she
works closely with the national finance
manager, assisting him in the daily
running of the department, together with
month-end procedures. She also works with
the country director. ‘Funds are extremely
tight here; we are driving to cut costs and
become more efficient,’ she says.
‘One of the key challenges is reviewing
budgets, in line with the weakening
pound. We hold monthly budget
monitoring sessions, in which I assist
budget-holders to identify key areas of
concern and propose any actions
that need taking.’
It’s not all work though. ‘I’ve
made the most of my time here.
I spent Christmas and new year
in Ethiopia, followed by a visit to
see the mountain gorillas in the
Virunga Mountains. I’ve also enjoyed
a trip to the Victoria Falls in Zambia.’
38 FINANCIAL TERMS

WHAT ARE
WORDS WORTH?
Some of accountancy’s most widely used terms of reference and most basic
concepts can be mind boggling, explains Jamie Ambler.
 39

‘Accountability’,
‘equity’, ‘financial
reporting’, and
‘transparency’ are
just a few of the terms
that can mean different things
depending on who is using them and
the context in which they are being
used. The meanings of terms such as
‘income’, ‘revenue’, ‘sales’, ‘turnover’,
and ‘profit’, can be used to describe
so many different variations on a
theme that they tell us very little at
all, unless they are each accompanied
by a more meaningful word or a
detailed explanation.

Income and profit

Net income, for example, is the phrase
commonly used to refer to the ‘profit’
hen you start studying of an organisation, and refers to the

W for an ACCA qualification,

you start learning a new
language. All professions
have their own terminology –
accounting is no exception – and
positive balance the organisation has
left over (if any) once it has paid its
‘operating costs’ – the costs of doing
business, such as loan payments,
payroll, raw materials, and taxes.
if you want to progress, you need But there are variations in what does
to quickly grasp the basic terms and does not constitute an operating
and concepts. cost, and not all organisations define
As a first step on this long and net income in the same way, so you
winding road, it’s a good idea to need to be careful if you are trying
presume nothing, because the uses to compare the results of more than
of, and interpretations you place on one organisation.
all sorts of words will change when Gross income is the amount of
they become ‘technical’ terms of money (cash and on credit) an
reference. Take credit and debit: one organisation takes in from each, every
of the first things you learn as a and any source – including goods and
finance student is that you may need services produced and sold, investment
to forget everything you thought you gains made, and so on – before any
knew about what these words mean. operating costs are deducted. It can
When your exposure to debits sometimes seem as if ‘income’ and
and credits has been limited to ‘revenue’ are interchangeable,
your personal bank account, their but they
‘accounting’ meaning can seem
rather confusing. But
at least the profession
is unanimous in their
interpretation and
application. However,
not all of the terms
of reference you
come across as an
accountant will be quite
so straightforward.
40 FINANCIAL TERMS
are
not,
because
the latter
is just a
subset of gross income. ‘Revenue’
refers only to the money (cash and
on credit) generated from the sales
of goods and services, so investment
gains, for example, are not revenue.
Just to confuse things further, in
the UK, the term ‘turnover’ is used
to describe revenue for accounting
purposes, while simultaneously
being used to describe other types
of turnover too. Staff turnover,
for example, is a ratio of workers
replaced over a period of time to the
average number of workers; and if an
organisation sells goods, turnover can
also describe the number of times that
its inventory of goods is sold over a
given period.
Defining revenue
Defining turnover can create some
confusion, but it pales by comparison
with the complexity of defining revenue
(or turnover) for accounting purposes.
Different national Generally Accepted
Accounting Principles (GAAPs) handle
‘revenue recognition’ in different ways,
and there are often inconsistencies,
even within a single geographic region
(such as a state or country), for
economically similar transactions.
The situation is particularly complex
in the US, and the International
Accounting Standards Board (IASB) is
working with national standard setters
(such as the US Financial Accounting
Standards Board, or FASB) to try to
reach an agreement on a truly unified
approach on the recognition of revenue.
WHO INVENTED DOUBLE ENTRY?
In 1494, when Frater Luca Bartolomes
Pacioli published his Summa de
Arithmetica, Geometria, Proportioni
et Proportionalita (Everything About
Arithmetic, Geometry and Proportion), the
Italian did not claim to be the originator of
double entry bookkeeping, which was just
one of five subjects covered.
Pacioli credited the origination of
double entry to fellow countryman
Benedetto Cotrugli, who had written Delia
Mercatura et del Mercante Perfetto (Of
Trading and the Perfect Trader), 36 years
earlier; and until relatively recently, it was
widely accepted that the origins of double
entry could be traced back to this period
Meanwhile, the organisations and
countries that have chosen to adopt
International Accounting Standards
(IASs), have IAS 18, which defines the
range of criteria that must be met
before revenue is earned, and may be
recognised, in financial statements
that comply with International
Financial Reporting Standards (IFRS);
all of which brings us to yet another
potential nightmare of confusion – the
relationship between IAS and IFRS.
IAS and IFRS
The history of IAS and IFRS goes back
to the late 1960s, when accountants
formed an international study group to
investigate the possibility of creating an
international body to write accounting
standards for international use. This
led (in 1973) to the establishment of
the International Accounting Standards
Committee (IASC), which went on to
release a series of standards known
as IAS.
The Standards range from IAS 1 to
IAS 41, but this doesn’t mean there are
ACCOUNTING IS AWASH WITH RULES, REGULATIONS
AND GUIDELINES, AND THEY CAN BE A GREAT
COMFORT. BUT, ASSIGNING THE RIGHT TERM IS NOT
AN EXACT SCIENCE, SO IF YOU ARE LOOKING FOR
ABSOLUTE CERTAINTY YOU MAY BE DISAPPOINTED.
in Renaissance Italy. But the double entry
concept is much older.
Along with the modern decimal
number system, decimal place notation,
and the all-important mathematical
zero, there is evidence to suggest that
double entry bookkeeping originated
on the Indian sub-continent. The ancient
‘Bahi-Khata’ system makes a double
entry for all transactions affecting real,
nominal or personal accounts, uses the
concepts of the debit (‘naam’) and the
credit (‘jamaa’), and the system predates
not only the 14th century works of
Cotrugli and Pacioli, but the Greek and
Roman Empires.
41 Standards, as some of the earlier
IAS have been replaced by higher
numbers or IFRS. IAS 3, for instance,
was superseded by both IAS 27 and
IAS 28, while IAS 4 was superseded by
IAS 16, IAS 22 and IAS 38. But the last
new IAS was published in 2000, when
the IASC was restructured, and the
IASB was formed.
The IASB adopted all IAS previously
issued by the IASC, and took over the
standard issuing role, but from that
point on, any new standard has been
published as part of a series called
IFRS, and these are now numbered
from IFRS 1 to IFRS 8. As a result of
this approach, there are currently eight
IFRS and 29 IAS – although the highest
number is, potentially misleadingly,
IAS 41.
Accounts and statements
Not that producing and describing
financial reports or financial statements
gets any easier when you move on
to consider more general terms
of reference. The term ‘financial

statement’ can be used as a label for a
number of formal reports that describe
the financial health of an organisation,
including a balance sheet, cash flow
statement, and income statement – and
the latter can also be described as a
proft and loss statement.
In the context of finance, the words
‘statement’, ‘report’ and ‘accounts’
can often appear interchangeable,
although different countries, creators of
accounting principles (or standards), and
regulatory authorities tend to display a
preference for one over the others. The
IASB, for example, favours ‘financial
reporting’ and ‘financial statements’
as terms of reference, as does the US
Securities and Exchange Commission
(SEC), but in the UK the preferred term
of reference is ‘accounts’.
In addition, the terms ‘financial
reporting’, ‘management reporting’
and ‘statutory reporting’ can create
some confusion. All three can be
used in a generic sense, to describe
a type of report, as well as a specific
and individual report; all of them can
contain financial information, and
varying amounts of this financial data
can, and does, overlap. Fortunately,
some clarification is possible –
particularly in the area of statutory
reporting.
The term ‘statutory reporting’
can be used to refer to the process
of creating or submitting any
mandatory report or reports
produced to meet legally defined rules
and regulations. The information these
reports contain is clearly defined, and
must be submitted to various statutory
regulatory authorities, in a standardised
format, on or before a particular date
or dates. Statutory reports are often
produced for regional (local) and
national tax purposes, but they are also
necessary in many other areas.
Financial reports and management reports
Of course, organisations produce a large
number of reports for both internal
and external consumption, and not
all of them can be quite so easily
STUDENT ACCOUNTANT 05/2009
[[2r]]
41
Check out our new digital edition
www.accaglobal.com/SA
categorised. ‘Management reports’ of reference being
are reports for use by management, as used by others, or
the name implies, but they can just as struggle to come up
easily originate inside an organisation with (what you hope will
as outside it. For example, a booklet be) the correct term of reference in any
from a specialist software company scenario, don’t feel bad about it.
on Measuring and Valuing Customer As time passes and you become
Relationships is as much a management more familiar with your chosen
report as a document from the HR profession you will become significantly
department on Meeting Training and less concerned and less confused
Recruitment Targets. by such matters, and experience will
Unfortunately, some management help you to judge when and where
reports can equally be described as the correct terms of reference are
financial reports, such as a report on essential, and when and where they are
utilities costs, produced by the finance not. Accounting is awash with rules,
department for the operations director; regulations and guidelines, and they
a Return on Investment (ROI) report for can be a great comfort. But, equally,
a marketing campaign; or a variance assigning the right term is not an
analysis report for the annual budget of exact science, so if you are looking for
a manufacturing plant. So if you have the absolute certainty (in anything or
found yourself puzzling over the terms everything) you may be disappointed.
HOW MUCH IS A BILLION?
Counting from one to five is so easy that many of us can do it in more than one
language. Bigger numbers are more of a challenge.
In the UK, for example, one billion is significantly more than it is in the US. Using
the British numbering system (sometimes referred to as ‘long scale’), one billion
is a million million, while the US system (sometimes referred to as ‘short scale’)
favours a thousand million. So, in the US, a billion is 1,000,000,000 or 109, and
in the UK a billion is 1,000,000,000,000 or 1012, which, in the US, just happens
to be a trillion; and then there are quadrillions, quintillions, googols,
and googolplexes…
 STUDENT ACCOUNTANT 05/2009
43
Could internal audit have helped?
www.accaglobal.com/economy

Internal audit is the third line of proactive in pursuing a governance role,

defence, auditing both first and but credibility is a problem.
second lines: independent from, ‘Internal audit has never been more
but providing with the second line, vital to an organisation,’ says Burden,
a joined-up assurance model for ‘but the challenges to internal audit’s
the board. influence and credibility have never
Larry Harrington, been greater.
vice-president, internal audit ‘We’ve produced risk-based
for the Raytheon Company, plans and undertaken risk-based
believes the key for internal auditing for years, but how
audit remaining relevant is to seriously have we considered
focus on risk management. catastrophic or remote events?
He says few departments The last six months have
have really audited the taught us that they do occur,
company’s risk management and when they do, the results
programme, and internal are extreme.’
audit does not spend Norman Marks, vice-
enough time thinking through president, governance, risk
risks that could have an impact on the and compliance for Germany’s SAP
company today or tomorrow. Business Objects division, says it is a
In a downturn, risks to the critical time for audit leaders. He says
organisation’s survival will need to be they need to assess governance and
identified and tackled head on. Risk risk-management processes, not just
registers need to be living organisms, perform audits of controls in specific
rather than quarterly documents, and higher-risk areas.
problem-solving workshops can help to Talking to boards and top executives
fix things quickly. about the importance of providing
In the medium term, reviewing the governance, risk management and
risk-management process and getting control assurance is also important.
it to work may be the next point of call, Tim Leech, CEO of Leech & Company,
and internal audit might want to help believes internal audit needs to
with this rebuilding process. start providing audit reports on the
effectiveness of their organisation’s
Top concerns risk-management systems. His
In the longer term, how high-level thought-provoking article – The Global
evaluations of governance, risk Economic Crisis: Could Internal Audit Have
management and internal control are Helped Prevent It? – on the ACCA website
delivered must be a priority. offers in-depth insight.
In addition, recent risk management
failures reveal a major governance gap Dan Swanson is former director of
into which internal audit should step. professional practices at the Institute
Internal audit itself needs to be more of Internal Auditors
44 INTERNAL AUDIT
RECRUITERS’
PERSPECTIVES
Auditors currently in practice
should explore the possibilities
of internal audit with care, says
Max Williamson.
O
ne of the many benefits
of being an auditor is that
you tend to be spared the
most virulent effects of an
economic slowdown. Audit teams
can provide safe havens in uncertain
times; it’s hoped that few
auditors will be made redundant
during 2009.
However, for those looking
to do more than simply hang
onto their job, accessing
opportunities will be harder
than it has been for several
generations. Recruitment
within the Big 4 is on hold in
most countries; even hiring
into previously ‘hot’ markets
in the Middle East or Russia has been
frozen. And although opportunities still
exist within smaller specialist banks,
recruitment of auditors into most large
financial institutions has stalled.
Fortunately, one area which continues
to offer growth is internal audit, which
still resembles a candidate-driven
market. Vacancies remain open in
large multinationals, particularly those
requiring significant international travel
or relocation.
For many years, internal audit has
suffered from an image problem; it
still struggles to shake off associations
of ‘internal police’. Many auditors,
particularly those within large
practices, consider a move into internal
audit as a sideways or backwards
step. Internal audit appears to offer
greater amounts of the least interesting
aspects of their work, and seems a
world away from more attractive career
paths. This is a great shame, as internal
audit offers a proven path to the very
highest echelons within a company,
and for many has ultimately led to
group CFO roles.
However, some internal audit
teams are ‘more equal’ than
others. No two teams operate
in the same way, and the
differences in audit approach,
amount and scope of
travel, team structure and
career development are
considerable. The clear
lesson is not to apply your
misgivings about one team
to them all.
Scope of audit work
The strongest audit teams will address
financial and operational issues. The
main benefit of operational audit is that
it equips auditors with a commercial
view of the business, preparing them
for roles outside audit. Additionally,
if the team prefers a risk-based
approach, this will ensure that audit
assignments are more interesting and
add greater value.
It is also advantageous to join a
team that is regularly requested by
FOR MANY YEARS,
INTERNAL AUDIT HAS
SUFFERED FROM AN
IMAGE PROBLEM; IT STILL
STRUGGLES TO SHAKE
OFF ASSOCIATIONS OF
‘INTERNAL POLICE’.
 STUDENT ACCOUNTANT 05/2009
THIS IS A SHAME, AS
INTERNAL AUDIT OFFERS
A PROVEN PATH TO THE
HIGHEST ECHELONS
WITHIN A COMPANY, AND
CAN ULTIMATELY LEAD
TO GROUP CFO ROLES.
management to resource special
projects. Gaining experience in
due diligence and post-merger
implementation projects should add
value to your view of the business,
providing access to a greater
number of future opportunities.
Also, a regional view is
preferable to local. Gaining
access to pan-European
rather than national issues
will benefit long-term
development, as it provides
evidence that you can adapt
to different cultures, and
opens up the possibility
of exploring regional
finance roles.
How much travel?
Travel content will play a significant
role in determining your choice of
role, particularly if you join a team
within a multinational. Some auditors
are required to travel 75-100% of the
year; it’s key to consider the potential
impact on your personal life, and
to understand the travel policy. The
strongest audit teams usually allow
for a work-life balance, and while
work-life balance in a job requiring
90% travel may appear contradictory,
there are measures that can make a
material difference. If these measures
are introduced appropriately, they will
make it easier for companies to recruit
and retain staff.
The best travel policies will allow
auditors to work remotely rather than
from a centralised location, and may
even guarantee a return to one’s home
base at the weekends. Other teams
45
have adopted special practices for those
who enter the team married or become
married during the course of their
employment, such as guaranteeing a
specified number of days per month at
one’s home base. Some teams even
cover the cost of a spouse’s travel
to the audit location. The amount
of travel undertaken may also
have a beneficial impact on your
salary. You may find that you
are able to achieve significant
tax savings because of the
travel content. You should also
enquire as to how the team
supports its staff financially
while on assignment. Some
teams pay very generous ‘per
diem’ allowances above and beyond
living costs; these can make a material
difference to your earnings.
Team structure and reporting lines
Most internal audit teams are less
hierarchical than in external audit.
Titles within teams rarely line up; those
who have achieved managerial status
within external audit may find that they
are offered positions as senior internal
auditor. This doesn’t mean a downgrade
in responsibility or job content; it simply
means that the titles operate differently.
Many senior internal auditors have
responsibility for managing the career
development of more junior colleagues.
Reporting lines can reveal how the
company perceives its internal auditors.
Heads of internal audit should be
reporting into the audit committee.
Where the head reports instead into the
CFO or CEO, further investigation should
be required.
TECHNICAL
ALL YOU NEED TO KNOW
Inside information on exams
to help you plan your revision
and focus your attention on key
aspects of the syllabus

48 GRADE ‘A’ RAP

How to prepare a good Oxford
Brookes University BSc Research
and Analysis Project

50 MASSAGING
THE FIGURES
Earnings management – what
it is, when it becomes fraud,
and implications for auditors
(Paper P7)
52 MEASURING
PLANNING VARIANCES
There are many ways – but
only one that’s preferred
by ACCA examiner
Geoff Cordwell (Paper F5)

1
ER: PO n of ISSUES l
ON P licatio R ENT n financia
CUS the App lues and UR i
54 FO
rate Va 56 C ot topics rmulate
e m onst l Ethics, ) h
Use ting to fo P2)
D a
ro fe ssion (Paper P1 r
repo rs (Pape
r
P t
ud g men answ
e
J
 48 TECHNICAL

GRADE " A" RAP RELEVANT TO ALL ACCA QUALIFICATION STUDENTS

UNIVERSITY BSC (HONS) DEGREE IN APPLIED ACCOUNTING RAP AND AVOID

To be awarded the Oxford The following points summarise Application of accounting and
Brookes University BSc (Hons) the RAP markers’ guidelines, business models
THIS ARTICLE CONSIDERS HOW TO PREPARE A GOOD OXFORD BROOKES

degree in applied accounting,
ACCA students have to submit a
Research and Analysis Project
(RAP) after passing Papers F1
through to F9, as well as the
Professional Ethics Module.
Before July 2008, the class
of degree awarded depended
purely on the marks gained in the
Fundamentals level papers, but
since 1 August 2008, the grade
awarded for the RAP (either A,
B, C, or fail) may affect the class
of degree. It is important that
students understand that the
class of degree awarded can be
improved by submission of a
RAP graded A or B; however, the
RAP grade cannot lower the class
of degree.
With reference to ‘Technical
and Professional Skills’, students
OBTAINING A LOW DEGREE CLASS.
which include the criteria that
must be satisfied in order to
achieve an A grade.
Understanding of accounting and
business models
‘Grade A – An appropriate choice
of theory and concepts. Very
clear relevance and evidence of
wider reading.’
Markers are looking to
see if students have used an
appropriate range of relevant
accounting and business models,
linking them to the organisation
and to the business context.
There should be clear evidence
of the use of a wide range
of sources of information to
obtain economic and industry
data. Information on the chosen
organisation should go beyond its
‘Grade A – Insightful and critical
application of models to the
project topic.’
Markers are looking for
effective use of relevant
comparators or benchmarks,
eg information relating to the
industry and/or a comparable
company operating within the
same industry. There should be
a clear indication of the specific
limitations of such information.
Where appropriate, candidates
should make use of wider
areas of information (such as
segmental or environmental
information) and ensure that
they explain the extent of
its relevance.

will notice that they are required
to demonstrate an understanding
of the application of ‘business
models’, such as Michael
Porter’s highly regarded ‘five
forces model’. The use of this
model helps students identify
the sources of competition in a
chosen industry or sector.
Candidates should ensure that
when using any business model,
they apply it to the specific
context of the organisation that
is the subject of their RAP. A
description of the model alone
will not add much value to
any RAP.
annual report and the statement
of its chief executive officer.
Students should demonstrate
their understanding of the
models used and their context
and limitations. There should
be no material errors in the
application of business models.
IT IS IMPORTANT THAT STUDENTS
UNDERSTAND THAT THE CLASS OF DEGREE
AWARDED CAN BE IMPROVED BY SUBMISSION
OF A RAP GRADED A OR B; THE RAP GRADE
CANNOT LOWER THE CLASS OF DEGREE.
 STUDENT ACCOUNTANT 05/2009
49
Student Accountant is going digital
Read more about it on page 80

Evaluation of information, analysis Undergraduate skills

‘GRADE A – INSIGHTFUL AND CRITICAL APPLICATION OF MODELS TO THE

AND PRODUCE A RELEVANT AND COHERENT PROJECT REPORT WITH AN

and conclusions No marks are awarded
‘Grade A – High level of critical specifically for undergraduate
thought shown in the analysis, skills, but the RAP must show

‘GRADE A – CAN ENGAGE THE READER IN A PROFESSIONAL MANNER

and a rigorous approach to the the author to be competent;
‘GRADE A – AN APPROPRIATE CHOICE OF THEORY AND CONCEPTS.

evaluation of information.’ communication must be fluent,

Markers are looking for a grammar and spelling accurate,

SHOWN IN THE ANALYSIS, AND A RIGOROUS APPROACH TO THE

thorough analysis and evaluation a range of relevant sources of
of models and ratios. It is vital information must be used, and
VERY CLEAR RELEVANCE AND EVIDENCE OF WIDER READING.’

that candidates make clear and there must be clear evidence of

concise recommendations and correct referencing methodology.
conclusions which refer to the Specifically, markers are looking
use of models, the business for appropriate discussion,
context, aims and objectives, where the meaning is clear,
PROJECT TOPIC. HIGH LEVEL OF CRITICAL THOUGHT

and which include clear and and grammar, spelling and

critical discussion of limitations. punctuation are appropriate.
Consideration should be given to Although a minimum of two
the identification and explanation information sources are required,
of trends relating to wider market such as an annual report, good
forces and other environmental projects will refer to considerably
factors which impact on the more than two sources
corporate strategy. of information.
The next article in the series
Presentation of project findings will focus on Project 6 – ‘The
‘Grade A – Can engage the key factors or indicators in the
REVALUATION OF INFORMATION.’

reader in a professional manner motivation of employees in an

and produce a relevant and organisation’ – and on how to
coherent project report with an prepare a successful ‘Skills and
appropriate structure.’ Learning Statement’.

APPROPRIATE STRUCTURE.’
When assessing the RAP,
markers are looking for a report Shane Johnson is ACCA’s
structure that shows: external examiner for the
¤ appropriate headings and OBU RAP
sub-headings
¤ reader-friendliness, appropriate
to the subject of the RAP and
its users
¤ good use of English, ie
lucid with good spelling
and grammar
¤ appropriate use of relevant
graphs/charts which should be
clearly labelled
¤ good use of appendices.
50 TECHNICAL

MASSAGING THE
RELEVANT TO ACCA QUALIFICATION PAPER P7

A survey of audit committee THE PAST YEAR HAS SEEN TURMOIL IN THE WORLD’S FINANCIAL MARKETS. from asset impairments or other an accounting standard, or
members attending the 4th exceptional losses. knowingly omitting transactions

COMPANIES TO MAINTAIN PERFORMANCE TARGETS AND TO CONTINUE

Annual Audit Committee Earnings management does not or required disclosures in the
Issues Conference, published always mean that the applicable financial statements. For example,
by KPMG in 2008(1), identified financial reporting framework deliberately not disclosing a
the increased risk of earnings has not been followed. Earnings contingent liability, or significant
management as a top concern. management is often described as going concern problems, in the
AS MAJOR ECONOMIES FALL INTO RECESSION, PRESSURE IS ON

For auditors, it is certainly ‘bending the rules’. It may be that notes to the financial statements
the case that there is an the manipulation of published means that the disclosures
increased risk of earnings figures is the result of selecting an required (under IAS 37 and IAS 1
management or even fraudulent accounting policy which is allowed respectively) have intentionally
financial reporting in the under the financial reporting not been made. According to ISA
financial statements of those framework, but which does not 240 (Redrafted), The Auditor’s
companies affected by the global reflect economic reality. For Responsibilities Relating to Fraud
economic downturn. example, changing the estimated in an Audit of Financial Statements,
life of a non-current asset is this is an example of fraudulent
WHAT IS ‘EARNINGS allowed under financial reporting financial reporting.
MANAGEMENT’? standards, but if it is done purely ISA 240 (Redrafted) states that
Earnings management occurs to manipulate the depreciation ‘incentive or pressure to commit
TO MEET SHAREHOLDERS’ EXPECTATIONS.

when companies deliberately charge (and therefore earnings), fraudulent financial reporting may
manipulate their revenues and/ then it becomes an example of exist when management is under
or expenses in order to inflate (or earnings management. pressure, from sources outside
deflate) figures relating to profits The problem for the auditor is or inside the entity, to achieve an
and earnings per share. In other that financial reporting standards expected (and perhaps unrealistic)
words, it is when companies allow a degree of flexibility in earnings target or financial
use ‘creative accounting’ to application, and all financial outcome – particularly since the
construct reported figures statements will include balances consequences to management for
that show the position and and disclosures that are subject failing to reach financial goals can
performance that management to judgment and estimations. be significant’. It can therefore
want to show. Unfortunately, This means that it is sometimes be seen that in times of financial
earnings management is not difficult to decide if an accounting difficulty, such as the current
uncommon. Preparers of treatment is within accepted economic downturn, management
financial information (the finance accounting principles, or whether may feel pressurised into the
director or financial controller, the treatment is in breach of the non-disclosure of items that
for example) are often under rules – in which case it represents may detract from the company’s
pressure from other members fraudulent financial reporting. performance during the year, or
of the senior management team into the use of accounting policies
to present a certain level of WHEN DOES EARNINGS which produce deliberately
profitability. This is especially the MANAGEMENT BECOME FRAUD? misstated results for the year.
case in today’s economic climate, Fraudulent financial reporting Earnings management and
when a company’s revenue is a deliberate misstatement in fraudulent financial reporting
may have reduced significantly the financial statements. It can are discussed more fully in an
due to market factors, or include the deliberate falsification article in student accountant by
if profit is being eroded by of underlying accounting Namasiku Liandu(2), which can be
significant expenses arising records, intentionally breaching found on the ACCA website.

FIGURES
WHAT ARE THE IMPLICATIONS TO
THE AUDITOR?
Professional skepticism
ISA 240 (Redrafted) stresses
the importance of approaching
the audit with a degree of
professional skepticism, an
attitude which should be
heightened if there is a suspicion
of fraudulent financial reporting.
Discussion among the audit team
In accordance with ISA 315,
(Redrafted) Identifying and Assessing
the Risks of Material Misstatement
Through Understanding the Entity
and its Environment, ISA 240
(Redrafted) re-emphasises the fact
that the audit team should have
a discussion about those factors
that indicate that the financial
statements may be susceptible to
misstatement due to fraud.
Evaluation of accounting policies
When assessing the risk of
fraudulent financial reporting,
particular attention should
be paid to the selection and
application of accounting
policies. Particular attention
should focus on those policies
relating to complex transactions,
and to subjective matters.
All accounting policies and
estimates should be carefully
reviewed for potential bias. The
circumstances resulting in any
bias may represent a risk of
misstatement due to a fraudulent
financial reporting.
Completeness of disclosures
In difficult economic times,
management may be tempted to
STUDENT ACCOUNTANT 05/2009
51
Sudying Paper P7?
Performance Objectives 17 and 18 are linked
hide information which may raise that where fraud has occurred,
IDENTIFY INDICATORS OF MANIPULATION, AND MAY NEED TO APPROACH
concerns about the company’s the auditor should consider other
performance. The auditor must reporting responsibilities, such as
ASSESSMENT AND AUDIT PROCEDURES CAREFULLY, IN ORDER TO FULLY
FINANCIAL STATEMENTS WITH AN INCREASED DEGREE OF SKEPTICISM.
therefore consider whether communications with regulatory
all relevant information has and enforcement authorities. In
been disclosed in the financial many jurisdictions, it would also
statements in compliance with be appropriate to communicate
accounting standards. with shareholders, for example at
IN THE CURRENT CLIMATE, AUDITORS NEED TO CONDUCT RISK
a general meeting of members.
Audit report
In cases where financial CONCLUSION
statements appear to have Current global economic
been misstated due to earnings circumstances mean that
management or fraudulent auditors face increased audit risk.
financial reporting, the auditor Preparers of financial statements
should carefully consider the have the motive to make the
implications for the audit report. published accounts appear as
The problem for the auditor will good as possible, and the means
be to decide whether any earnings to do this is earnings management
management is within generally or fraudulent financial reporting.
accepted accounting principles Auditors therefore need to
(and so, therefore, the financial conduct risk assessment and
statements are fairly presented), audit procedures carefully, in
or whether it is so aggressive order to fully identify indicators
that it is in breach of accepted of manipulation, and to gather
accounting practice and therefore sufficient evidence to decide
fraudulent. A breach of financial whether any manipulation is the
reporting principles resulting from result of bending or breaking
the misapplication of accounting financial reporting rules, for which
standards will result in a the ultimate consequence may be
disagreement and thus a potential a qualified audit opinion. Auditors,
qualification of the audit opinion. as well as shareholders, may
need to approach all companies’
Reporting to those charged financial statements with an
with governance increased degree of skepticism in
Instances of fraudulent the current climate.
financial reporting should be
communicated to those charged Lisa Weaver is examiner for
with governance on a timely basis. Paper P7
The relevant audit procedures
necessary to complete the audit REFERENCES
should also be discussed. 1 Recession-Related Risks, a Top Concern
for Audit Committees, KPMG Audit
Committee Institute Survey, 2008.
Other reporting responsibilities 2 Namasiku L, Earnings Management,
ISA 240 (Redrafted) indicates student accountant, April 2004.
52
AS EXAMINER FOR PAPER F5, I HAVE BEEN ASKED, ON OCCASION, WHAT I THINK
IS THE BEST WAY TO MEASURE PLANNING VARIANCES. THERE ARE MANY WAYS;
THIS ARTICLE OUTLINES MY PREFERRED METHODOLOGY.
TECHNICAL
MEASURING
PLANNING
RELEVANT TO ACCA QUALIFICATION PAPER F5
TABLE 1: SAMPLE DATA
Ex-ante
Original budget
Material price $5/kg
Material used 10kg per unit
Budget production 10,000 units
Actual production
As examiner for Paper F5, I have been asked, on
occasion, what I think is the best way to measure
planning variances. There are many ways; this
article outlines my preferred methodology.
The actual material used has most often been
presented (in past exams by other examiners) as a
total figure. There would then be a figure given for
actual production – as is the case above. Candidates
should not be put off by this.
In Paper F5, all my past questions have been
based on a scenario, and, if this continues, then the
data given in Table 1 would be presented as part
of the scenario, rather than as a table, to give a
context for the question. Students, therefore, need
to be able to read and interpret straightforward
statements. For example, the above data could be
presented as follows:
Lowland Skiing had planned, when it originally
produced its budget, to buy its artificial snow for $5/
per kg. However, due to subsequent improvements in
technology, manufacturers around the world reduced
their prices to $4.85 per kg. This latter figure is now
considered to be a fair target price for the purpose
of performance assessment for the budget period.
The actual price paid was $4.75, as the Lowland
Ex-poste Actual
Revised budget
$4.85/kg $4.75/kg
9.5kg per unit 108,900kg (Note 1)
11,000 units
Skiing buying department negotiated strongly for a
better price.
Students should be able to deduce that an
improvement in technology is outside the control of
Lowland Skiing and is, by nature, a planning ‘error’.
Equally, the better negotiation of a price should
be recognised as an operational issue. Simple
interpretation is not considered beyond the scope
of Paper F5 students, but it is often clear to me
that many students fail to understand what they are
doing. When studying, trainees need to ensure they
realise why something is being done, not just what
it is.
Let’s return to the calculations in the question.
Planning variances are measured by comparing
original budget figures with revised figures. The
question I am often asked concerns the issue of the
production level being applied.
Without going into excessive explanation, I prefer
using the actual production level as the activity
level used to calculate the planning variances. I feel
that in a changing world, where budget volumes
of activity can differ greatly from actual activity
levels achieved, then using actual activity levels (to
calculate the variances) better explains the effect an
 STUDENT ACCOUNTANT 05/2009
53
Studying Paper F5?
Check out Performance Objectives 12, 13 and 14

VARIANCES
CALCULATIONS AS PRESENTED IN THIS ARTICLE, SO THERE SHOULD BE
I HAVE ENSURED THAT BOTH THE OFFICIAL TEXTBOOKS SHOW THE
error has had on the business (rather than on the Material usage operational variance: (108,900
budget). The calculations are as follows. - (9.5 x 11,000)) x 4.85 = 21,340 ADV

Material price planning variance: (4.85 - 5) x The total operational variance is $10,450 ADV.
11,000 x 9.5 = 15,675 FAV
Again, both these variances have been calculated
In this way, the error in the budget for price is based on actual levels of activity. It is possible to
being evaluated to show the effect it has had on reconcile the total planning variance ($43,175 FAV)
the business – given that it produced 11,000 units. and the total operational variance ($10,450 ADV)
The effect on the original budget (based on 10,000 as $32,725 FAV, thus:
units) could also be calculated, and is a valid piece
NO DOUBT AS TO THE PREFERRED APPROACH.

of managerial data: Actual spend: 108,900 x 4.75 = $517,275

Flexed budget spend:
Material usage planning variance: ((9.5 x 11,000) - (5 x 10 x 11,000) = $550,000
(10 x 11,000)) x 5 = 27,500 FAV Total variance $32,725 FAV

Equally, the error in the estimate for the usage to Now comes the matter of interpretation of the
be used has been evaluated to show the effect it has data. The key issue is that operational variances
had on the business – given that it has produced are the only variances within the control of the
11,000 units. The total planning error is thus managers, so performance must be assessed with
$15,675 FAV + $27,500 FAV, or $43,175 FAV in only these figures in mind. The material buyer has
total. This is a provable figure, as it is the difference clearly done well by negotiating a price reduction
between the ex-poste and the ex-ante budget both beyond the market fall. One might question the
flexed for actual production levels. validity of the revised price as it is a common
manipulation to leave the revised price at a level
Ex-poste budget as flexed = whereby favourable operational variances can
5 x 10 x 11,000 = $550,000 still be achieved. The concern might be about
Ex-ante budget as flexed = the quality of the snow, as the usage variance
4.85 x 9.5 x 11,000 = $506,825 is adverse (perhaps indicating the snow fails to
cover the ground as well as previous versions, and
The difference is $43,175 so more is needed). Indeed, given the adverse
usage variance is bigger than the favourable
Operational variances compare the differences price variance, we could conclude that overall the
between actual and revised budget figures. The performance is quite poor. A performance manager
calculations here are less controversial: cannot appraise variances in isolation from
each other.
Material price operational variance: (4.75 - 4.85)
x 108,900 = 10,890 FAV Geoff Cordwell is examiner for Paper F5
54 TECHNICAL
FOCUS ON PER
PO 1: DEMONSTRATE THE APPLICATION OF PROFESSIONAL ETHICS, VALUES
AND JUDGMENT
As a professional accountant,
you must consistently
demonstrate an ethically sound
approach to all aspects of your
work, upholding ACCA’s Code of
Conduct and Ethics and taking
personal responsibility for the
decisions you make.
Performance Objective 1 is
linked to Paper P1, Professional
Accountant – but remember that
ethics is covered in 11 of the 16
exam papers – including all
papers at the Professional level.
To perform effectively, you
need to:
¤ uphold (and be seen to uphold)
professional ethics, values
and standards
¤ behave with integrity
and objectivity, eg act
independently and avoid any
conflict of interest
¤ maintain professional
competence, confidentiality
and due care.
Demonstrating a sound ethical
awareness, living out your values
and applying your judgment
in practice are not one-off
requirements; you’ll need to
place ethics at the heart of
all your work, throughout your
professional career.
To achieve this performance
objective, therefore, you’ll need
to keep ethics very much at the
forefront of your mind, whatever
activity you engage in.
ACCOUNTANT – BUT REMEMBER THAT ETHICS IS COVERED IN 11 OF THE 16
¤ Document situations where ¤ Ensure you keep up-to-date
you’ve had to consider the with ACCA’s codes of conduct
ethical angle of tasks you’ve and professional standards.
EXAM PAPERS – INCLUDING ALL PAPERS AT THE PROFESSIONAL LEVEL.
been instructed to perform – ¤ How regular or in-depth is
PERFORMANCE OBJECTIVE 1 IS LINKED TO PAPER P1, PROFESSIONAL
for instance, if your supervisor your own personal monitoring
asks you to make a false of your compliance with
accounting entry, or if you have legislation, standards and
to process an expense claim regulations as you go about
that you know to be fraudulent, your daily routine?
how did you handle the ¤ Identify who within your
situation? What did you learn organisation is responsible
from the experience? for providing ethical advice
¤ Think of instances where or managing compliance with
you’ve been unsure of the relevant legislation, rules or
ethical nature of the situation regulations – and document
you found yourself in – such occasions when you’ve sought
as being treated exceptionally their advice: why, when, and
favourably by a supplier keen what was the outcome?
to increase business with your
organisation, or discovering These examples are not
records on a client audit that obligatory – think of ways in
you suspect to be deliberately which you might demonstrate
falsified. At what stage did you achievement of this objective
raise the matter with a superior, according to the demands and
or did you resolve it yourself? nature of your own job.
How was your ethical awareness The next step is to answer the
enhanced in the process? three unique challenge questions
¤ Write about when you may have for this objective in the trainee
observed unethical behaviour development matrix (TDM),
in your colleagues. What accessed via myACCA:
made you suspicious? What ¤ Describe an occasion on
went through your mind? How which you had to demonstrate
would you tackle the situation ethical behaviour.
differently in future? ¤ What did you learn from this
¤ What have you learned, or experience and how will it
drawn conclusions from, about influence your future behaviour
high-profile financial, business, in the workplace?
or even political activities ¤ What would have been the
you’ve read about or watched impact had you not behaved
on the news? What do you ethically in this situation?
think is the difference between
behaviour that’s unethical
and behaviour that actually
breaks rules?
 Nothing beats
a rehearsal
before the
exam day
Confidently sit your ACCA exam knowing you’ve gone through a dry run. Attend
one of our Question Days to sit an ACCA mock under timed exam conditions and
receive your paper marked and with a full debrief before you leave the class.
Book onto an ACCA Question Day to: FULL PAGE
6 practice and get your time management230mm xfor198mm
in check the big day (bleed)
6 identify areas of the syllabus you need to brush up on
224mm x 192mm (trim)
6 give yourself peace of mind knowing you’ve come as close as you can to the real exam

To find out more or to book onto a Question Day visit:

www.bpp.com/acca/questionday
Call 0845 075 1100 for courses at London centres
or 0845 226 2422 for courses at centres outside London.

®
56
QUESTION 4, THAT REALLY DELVES INTO THE POLITICAL AND INTELLECTUAL DEBATE THAT
PERMEATE THE ENTIRE SYLLABUS. BUT IT IS THE LAST QUESTION IN THE EXAM PAPER,
CURRENT ISSUES ARE AT THE HEART OF PAPER P2, CORPORATE REPORTING, AND
REPRESENTS CURRENT ISSUES IN FINANCIAL REPORTING.
TECHNICAL
CURRENT
RELEVANT TO ACCA QUALIFICATION PAPER P2
This article first looks at some of the hot topics in
financial reporting. Then, by using an illustrative
question, it shows you how to use this information
to formulate an answer to a current issues
question.
The Framework
The examiner’s advice is that if you are not sure
where to start your answer to a current issues
question, then begin with the Framework. The
Framework for Financial Reporting sets out the
conceptual basis for the development of standards,
and is itself based on the elements of assets and
liabilities. To paraphrase the Framework, ‘an asset/
liability is a right/obligation to a future economic
outflow/inflow’. This focus on financial position has
permeated all the standards issued in recent years,
and continues to dominate current issues.
But the Framework also refers to other concepts,
such as relevance, reliability and entity. Which
brings us to fair value.
Fair value
This is the hot topic in financial reporting. In order
to make the position statement a genuine statement
of financial position, rather than simply a balance
sheet, the International Accounting Standards
Board (IASB) has been pushing financial reporting
towards fair value. Fair value accounting attempts
to present all assets and liabilities at market value
and, as such, is highly subjective. But the IASB is
prepared to accept reduced reliability in favour of
increased relevance.
Convergence
Also red hot is the subject of convergence, which
the IASB interprets essentially as the convergence
of IFRS with US accounting. This process has
received a major boost in recent months, with the
US Securities and Exchange Commission (SEC)
coming out in favour of fair value and the IASB.
Business combinations
Tangled up in the process of convergence is the
project to make sense of group accounting. The
IASB has long accepted that the US slant on
groups was better suited to the entity concept
and the reality of acquisitions. So the IASB issued
and reissued IFRS 3, Business Combinations, in
order to reflect this. But perhaps the rarity of
non-controlling interest (NCI) in the US has led to
the IASB creating unnecessary complications as
regards the NCI goodwill.
Management commentary
The spiralling complexity of financial reporting
has led to most companies translating their
financial statements into a more digestible report,
tagged on to the financial statements in the
annual report. This ‘management commentary’
is largely unregulated at the moment, but the
IASB has a standard under development that,
once issued, will produce some conformity in
management commentaries.
ILLUSTRATIVE QUESTION
The following is an illustrative current issues
question. It is partly based on past examples of
Question 4, but it also looks forward to current
issues that are topical now and which will remain so
for the next few sittings. So the question, therefore,
takes its lead from the examiner, Graham Holt, and
his comments (made at the February 2009 ACCA
teachers’ conference) that lecturers should try
to write questions of the future, especially in the
context of current issues. As you look through the
question, you will note the use of numbers, rarely
seen in previous Question 4 examples. This also
takes its lead from the examiner’s comments at
the conference, when he warned that future current
issues questions might use numbers to draw out
conceptual issues.
 STUDENT ACCOUNTANT 05/2009
57
Studying Paper P2?
Performance Objectives 10 and 11 are linked

ISSUES

EXAMINER’S COMMENTS THAT GROUP ACCOUNTING UNDER IFRS 3 (REVISED)

Question 4: Fudge because the focus is primarily on the accounting.

THE FIRST THING TO ADVISE IN THE CONTEXT OF A QUESTION LIKE THIS IS:
Fudge is a medium-sized industrial group that is Negotiations with Sugar shareholders continue,
listed on a major world stock exchange. It has finally and Fudge hopes to purchase a further 10%

‘DO NOT BECOME OBSESSED BY THE NUMBERS’. IT IS CLEAR FROM THE

succeeded in acquiring a controlling interest in its (10,000 shares) early next year. It is expected
principle supplier, Sugar. This acquisition is seen by that the consideration will be $1m, and that the
the board as a great achievement, since in the past, identifiable net assets of Sugar will be $6m at this

WILL BE AN IMPORTANT TOPIC FOR EXAMINATION IN THE FUTURE.

concerns over supply have frustrated the Board and anticipated third point of purchase. The CFO would
worried the shareholders. like to understand how this third purchase will be
You are advising the chief finance officer (CFO) reported, should it go ahead. Goodwill remains
regarding the issues raised by the acquisition. unimpaired throughout. The group has the policy of
She has various concerns, most of which relate recognising full goodwill.
to the financial reporting of the acquisition
and the conceptual reasons underlying the Required
financial reporting. The acquisition of Sugar was Write a report for the CFO that addresses the
achieved in stages. Sugar is a traditional raw following requirements:
materials supplier and had, until recently, been
under family ownership and control. Fudge has, for (a) Calculate the goodwill attributable to Sugar at
a number of years, been in negotiations with the the current year end. Explain the conceptual
family to purchase shares, but only last year, for the basis for the calculation of goodwill.
first time, was Fudge offered shares in Sugar. Fudge (13 marks)
purchased 25% (25,000 shares) at the end of last (b) Explain how the important strategic reasons
year for $2m, and obtained a seat on the main for the acquisition could be communicated to
Board. The fair value of the identifiable net assets Fudge shareholders.
of Sugar at that time was $4m. (5 marks)
Last week, Fudge acquired a further 35% (35,000 (c) Calculate the transfer in equity and the
shares) for $3.5m and obtained control. The fair reduction to equity that is attributable to the
value of the identifiable net assets of Sugar at this parent shareholders that would result from
second point of purchase was $5m. The fair value the third purchase, assuming it occurs as
of the previous ownership of 25% was measured predicted. Explain the conceptual basis for
at $2.25m, and the fair value of the NCI was this transfer.
measured at $3.2m. These latter two fair values (7 marks)
have been measured using appropriate models. (Total 25 marks)
It is approaching the year end, and the CFO
wants to understand how the above purchase Comments on the question
will be reported, both in the financial statements Perhaps the first thing to advise in the context
and elsewhere. She understands that there are of a question like this is: ‘do not become
new rules regulating group accounting, and that obsessed by the numbers’. It is clear from the
these have been motivated partly by the need for examiner’s comments that group accounting
global accounting convergence. She is particularly under IFRS 3 (Revised) will be an important topic
keen to understand the underlying principles for examination in the future. It is also clear
behind the accounting and also the application of that the examiner’s articles in the February and
fair value to the process of measuring goodwill. April 2009 issues of student accountant will be
However, she is also concerned that the acquisition, important. But it is also clear from the question
which is a major strategic success, might not be above that discussion of the issues is at least as
communicated to shareholders appropriately, important as the numbers.
58 TECHNICAL

THE EXAMINER REGULARLY COMPLAINS OF ANSWERS THAT ARE TECHNICALLY WONDERFUL,

I would also advise students not to try to be too
clever. The examiner regularly complains of answers
that are technically wonderful, but which do not
answer the question and therefore achieve few marks.
So do not attempt to dazzle markers with excessive
detail; instead, use your understanding of the key
issues to simply and clearly answer the question.
MODEL ANSWER
Report
To: Chief Finance Officer
From: Me
Date: Today
Subject: Acquisition issues
Introduction
The following report discusses the issues raised by
the acquisition of Sugar.
SO DO NOT ATTEMPT TO DAZZLE MARKERS WITH EXCESSIVE DETAIL; INSTEAD, USE YOUR
UNDERSTANDING OF THE KEY ISSUES TO SIMPLY AND CLEARLY ANSWER THE QUESTION.
BUT WHICH DO NOT ANSWER THE QUESTION AND THEREFORE ACHIEVE FEW MARKS.
Parent viewpoint
From the point of view of the parent as a single
entity, the parent simply acquires first 25,000
shares, then another 35,000 shares. So the parent
sees two purchases.
Group viewpoint
But the group perspective is quite different. The
group acquires the sub when it obtains control, and
clearly that happens when the second purchase of
35,000 shares occurs. That is the point at which the
sub enters the group.
Effect
The effect of this is that we must recognise only one
point of acquisition of the sub. In order to achieve
this, we deem the group to have sold its associate
and acquired a sub at the point the group obtains
control. So the first 25,000 shares are deemed to
have been sold and then immediately bought back
at fair value at acquisition.

(a) The financial reporting of the acquisition Fair value

This leads to one of the more unusual features of
Goodwill IFRS 3 (Revised). The fair value of the shares deemed
The goodwill in Sugar at the point of obtaining sold and bought back need not be in line with that of
control at the coming year end will be calculated those actually acquired (or even those retained) by
as follows: the NCI. A simple calculation can show this:
$’000
Fair value of consideration 35% 3,500 Share volume Fair value given Fair value per
Fair value of previous ownership 25% 2,250 share
Fair value of NCI 40% 3,200 35,000 $3.5m $100
Fair value of the business 100% 8,950 25,000 $2.25m $90
Fair value of net assets (5,000) 40,000 $3.2m $80
Goodwill at acquisition 3,950
(Calculation worth 5 marks) Fair value elsewhere
The above divergent fair value is most odd, given
Conceptual basis that in other situations, for example, the fair
The above calculation is based on the entity concept valuation of financial assets at fair value with gains
within the Framework for Financial Reporting. This and losses to the profit and loss, the transaction
concept notes that the group is one entity under the price on one share gives the fair value of all the
control of the parent shareholders. This key concept others at this point. This divergence of fair value
notes that the parent has control over the parent results in goodwill attributable to the NCI far below
assets and liabilities, as well as the assets and that of the goodwill attributable to the controlling
liabilities of the sub. interest. This makes part (c) below much harder.
 STUDENT ACCOUNTANT 05/2009
[[2r]]
59

QUESTION 4, SUMMED UP BY THE EXAMINER AS ‘SUBJECTIVE: 1 MARK PER POINT’. SEE HOW
NOTE THE STYLE OF THE ANSWER. THE LANGUAGE IS SIMPLE AND THE IDEAS ARE CLEAR.
BUT NOTICE ALSO HOW THE ANSWER HAS BEEN TUNED TO THE MARKING GUIDE FOR

MY ANSWER USES ONE HEADING FOR EACH POINT TO AID THE MARKING PROCESS.
Goodwill split Sugar acquisition
Goodwill is split between the controlling and the The Sugar acquisition is exactly the kind of issue
NCI as follows: that management commentary is designed to
$’000 accommodate. The numbers, as presented in the
Goodwill (controlling interest) (3,500 + financial statements, do not give the reader a
2,250 - (60%)(5,000)) 2,750 flavour of the purpose behind the purchase.
Goodwill (NCI) (3,200 - (40%)(5,000)) 1,200
Goodwill at acquisition (see above) 3,950 Presentation
The Fudge group should use the management
Notice that the NCI is 40%, but that they own less commentary to explain the importance of the Sugar
than one third of the goodwill. acquisition in terms of supply stability, and should
also explain the extended negotiations that resulted
Convergence in the step acquisition.
It is true that the revision of IFRS 3 was motivated
by the desire to improve financial reporting in the Regulation
context of the entity concept. However, it is also true The IASB has published a discussion document on
that the project has been dominated by the desire management commentaries, and the group should
to converge IFRS with US accounting standards. read this before publishing. The group should also
(1 mark per point to give 9 marks for discussion, look at other management commentaries and at
therefore one extra point) how others have dealt with acquisitions.

(b) The communication with shareholders Website

The group should also consider using its website
Management commentary to communicate the acquisition, maybe even
Management commentary is the generic name for considering a press conference.
the unaudited operating and financial review that (1 mark per point to give 6 marks for discussion)
accompanies most financial statements in the
annual report presented to shareholders. (c) The financial reporting of the transfer

The idea Transfer

The idea of this report is to translate the The following will transfer out of NCI:
performance and position of the group from $’000
the hard numbers, as presented in the financial Net assets attributable to NCI at transfer
statements, into softer words and pictures for (40%)($6m) 2,400
easier understanding. Goodwill attributable to NCI at transfer
(unchanged from (a)) 1,200
NCI before transfer of 10% ownership 3,600
Transfer to controlling equity (10%/40%) (900)
NCI remaining 2,700
(Calculation worth 3 marks)
60 TECHNICAL

Reduction in the equity attributable to the
parent shareholders
The above transfer into controlling equity will
meet the cost of the consideration to create the
following reduction:
$’000
Transfer to controlling equity (above)
THEIR DELIVERY OF CLEAR ANSWERS, AND DRAW FROM THE BROAD RANGE OF ISSUES
I RECOMMEND THAT STUDENTS REVIEW AND WORK THROUGH PAST CURRENT ISSUES
QUESTIONS TO IMPROVE THEIR KNOWLEDGE OF CURRENT ISSUES, TO IMPROVE
900
COMMENTS ON THE ANSWER
Note the style of the answer. The language is
simple and the ideas are clear. But notice also how
the answer has been tuned to the marking guide
for Question 4, summed up by the examiner as
‘Subjective: 1 mark per point’. See how my answer
uses one heading for each point to aid the marking

DISCUSSED ABOVE TO DEMONSTRATE THEIR UNDERSTANDING.

Consideration cost recognised directly process. Also notice that when I am aiming for five
in equity (1,000) marks, I give six points.
Reduction to equity that is attributable Next, note that the answer draws widely from
to the parent shareholders (100) across current issues. Of course, the answer is
(Calculation worth 1 mark) founded on the new IFRS on business combinations,
but look how I bring in the conceptual framework,
Conceptual basis fair value, convergence, management commentary,
The above financial reporting is again based on and other issues.
the entity concept and the related concept of Finally, note that ‘subjective’ implies that there
control. Once the group has absolute control of are other issues that could alternatively have
the sub at acquisition, then the group has control. been discussed, and the following would all have
This occurred last week when the 35,000 shares been acceptable:
were purchased. ¤ Accounting for the entity, Sugar, over the year in
the statement of comprehensive income, would
Control have been as an associate up to acquisition and
Control is an absolute: either you have it or you do as a sub thereafter.
not. The group cannot get more control by buying ¤ The deemed disposal of the associate at
more shares later. acquisition would generate a profit on disposal.
¤ The models used for share valuation are highly
Ownership subjective and open to manipulation.
Ownership is quite different. Clearly, if the group ¤ The family company was privately owned and that
does increase its ownership to 70%, then the NCI is why there is no market price before or after
will decrease to 30%. This results in the transfer the acquisition.
between the equity owners, from non-controlling
to controlling. The examiner has, on numerous occasions, made
it clear that alternative answers that consider
Goodwill alternative issues are welcomed by markers.
If Fudge successfully purchases the further
10,000 shares, this will not be a sub acquisition. CONCLUSION
Therefore, if there is no acquisition, there is no new I recommend that students review and work
goodwill calculation. through past current issues questions to improve
(1 mark per point to give 4 marks for discussion) their knowledge of current issues, improve their
delivery of clear answers, and draw from the broad
range of issues discussed above to demonstrate
their understanding.

Martin Jones is a lecturer at the London School of

Business and Finance
ACHIEVERS
CAT PASSED FINALISTS
Congratulations to all students
who passed their CAT
qualification final exams in
December 2008

64 EXAM ACHIEVERS
Passed your final CAT exams?
From Trinidad and Tobago
to Lesotho, from Pakistan to
Malaysia, find your name in our
roll of honour… 69 GET YOUR
PRACTICAL EXPERIENCE
66 PREPARE FOR REQUIREMENT (PER)
TRANSITION Now that the exams are behind
Find out how passing CAT you, get set for acquiring relevant
helped ACCA member Yeashant training – including
Singh graduate from Oxford where to find out about
Brookes University PER resources online

IO N AL LISH
T G
TERNA N ow H
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64 CAT PASSED FINALISTS

CAT PASSED
FINALISTS
CONGRATULATIONS! A
A E Joseph, A (Malaysia) / A Hameed, J (Bahrain) / A Irwany Bt Abdul Halim
(Malaysia) / Aaesyah Mohd Yusof (Malaysia) / Aamir Akram (Pakistan) / Aamir
HAD ENOUGH OF STUDYING? Hussain (Pakistan) / Aamir Manzoor (Pakistan) / Aamna Ijaz (Pakistan) / Ab
Aziz, S A (Malaysia) / Abayomi Sadiku, K (Nigeria) / Abbas Anwar (Pakistan) /
Now you’ve passed the CAT exams, you Abd Rahman, N (Malaysia) / Abdal Bahadar Khan (Pakistan) / Abdul Basit Akhter
(Pakistan) / Abdul Fatah Bin Rahman (Malaysia) / Abdul Ghani Fayyaz (Pakistan)
may decide that you’ve had enough Abdul Hameed, H (Pakistan) / Abdul Hannan (Pakistan) / Abdul Jabar (Pakistan)
Abdul Kareem Ali (Maldives) / Abdul Majid (Pakistan) / Abdul Manan (Pakistan)
of studying for a while. If so, the CAT Abdul Rahman, M F M (Malaysia) / Abdul Raqeeb (Pakistan) / Abdul Wahab
(Pakistan) / Abdul Waheed, D (Pakistan) / Abdullah (Pakistan) / Abdullah
qualification will more than adequately Ahmad (UK) / Abdullah Arib (Pakistan) / Abdullah Ayaz (Kuwait) / Abdullah
Haroon Mayo (Pakistan) / Abdullah Iqbal (Pakistan) / Abdullah Shaikh (Pakistan)
prepare you with the knowledge / Abdur Rehman (Pakistan) / Abid Tufail (Pakistan) / Abu Bakar Abd Wahab
(Malaysia) / Abu Bakar Aslam (Pakistan) / Abubakar Hanif (Pakistan) / Achilla,
and skills you need to perform in an C (Kenya) / Ackbar Ali, M (Trinidad and Tobago) / Adamaszek, A (Ireland) /
Adamson, I (Ireland) / Adeel Afzal Khan (Pakistan) / Adeel Ahmad (Pakistan)
accounting-support role. Simply gain / Adeel Asim (Pakistan) / Adeel Khan (Pakistan) / Adeel Muzaffar (Pakistan) /
Adeel Raza (Pakistan) / Adil Daniyal (UK) / Adil Mehmood (Pakistan) / Adnan
one-year’s relevant practical experience and Abbasi (Pakistan) / Adnan Ali Khan (Pakistan) / Adnan Khan (Pakistan) / Adnan
Mansoor (Pakistan) / Adnan Saleem (Pakistan) / Adnan Sharif (Pakistan) / Adnan
you’ll be able to use the letters CAT after Sheikh (Pakistan) / Adu Marfo Collins, M (Nigeria) / Aeint Lay Nyo (Myanmar) /
Afaf Khadim Hussain (Pakistan) / Agrawal, A (Nepal) / Ahmad Aimi Afiq Harizan
your name. (Malaysia) / Ahmad Ata Serajul Hamid (UK) / Ahmad Attique Lodhi (Pakistan) /
Ahmad Azlan Sairi (Malaysia) / Ahmad Fahd Abdul Hamid (Malaysia) / Ahmad
Farid (Malaysia) / Ahmad Farooq Fazalyar (Afghanistan) / Ahmad Firdaus
Jalaludin (Malaysia) / Ahmad Hassan (Pakistan) / Ahmad Jahangir Bhatti
(Pakistan) / Ahmad Jahanzeb (Pakistan) / Ahmad Jawid (Afghanistan)
Ahmad Nawaz, M (Pakistan) / Ahmad Raza (Pakistan) / Ahmad Raza (Pakistan) /
Ahmad Walid Furmuli (Afghanistan) / Ahmed, A (UK) / Ahmed Aftab (Pakistan)
Ahmed Ashraf (Pakistan) / Ahmed Bilal (Pakistan) / Ahmed Farooq (Pakistan)
Ahmed Hanif Karim (Pakistan) / Ahmed Mumtaz (Pakistan) / Ahmed Nazmus
Saqueb (Bangladesh) / Ahmed Shaikh, T (Pakistan) / Ahmed Yameen (Maldives)
/ Ahsan Ali Shami (Pakistan) / Ahsan Ameen (Pakistan) / Ahsan Bin Asim
(Pakistan) / Ahsan Iftikhar Bhatti (Pakistan) / Ahsan Ilyas (Pakistan) / Ahsan
Javed (Pakistan) / Ahsan Karim (Pakistan) / Ahsan Malik (Pakistan) / Ahsan
Saeed (Pakistan) / Ahsanullah (Pakistan) / Ahtesham Riaz (Pakistan) / Aisha
Achieving full CAT Karim (Pakistan) / Aishath Shahama (Maldives) / Aitasam Khan (Pakistan) /
Aitisam Tauqeer Qureshi (Pakistan) / Ajeet Kumar Hindu (Pakistan) / Akhtar, I
status will make you (UK) / Akoko, B A (Kenya) / Akufuna, N (Zambia) / Al Bulushi, A N B (Oman) / Al
Hadhrami, Z Y S (Oman) / Al Hadidi, F H S (Oman) / Al Hinai, R M T (Oman) / Al
stand out from the Qassabi, S A S (Oman) / Al Rahbi, K K S (Oman) / Al Rashdi, R H A (Oman) / Al
Zadjali, I I (Oman) / Alagappar, R (Malaysia) / Albert, D (Guyana) / Alberta Katty
crowd to employers, Taslim (Malaysia) / Alcide, M C J (Mauritius) / Aleeza Nouman Azim (Pakistan)
Alem Shah (Afghanistan) / Alexander, C (Trinidad and Tobago) / Alford, A M
provide you with a (UK) / Ali, A Z (Trinidad and Tobago) / Ali, L S (Trinidad and Tobago) / Ali, R F
(Trinidad and Tobago) / Ali, U (Pakistan) / Ali Abbas (Pakistan) / Ali Affan Khan
(Singapore) / Ali Ahmed (Pakistan) / Ali Ahmed Butt (Pakistan) / Ali Arslan
sound foundation (Pakistan) / Ali Asad (Pakistan) / Ali Ashfaq (Pakistan) / Ali Bilal (Pakistan) / Ali
Hamdani (Pakistan) / Ali Hamza Sahi (Pakistan) / Ali Hasan Hemani (Pakistan) /
in accountancy, Ali Hassan (Pakistan) / Ali Hassnan (Pakistan) / Ali Iftikhar Chaudhary (Pakistan)
/ Ali Imran (Oman) / Ali Imran (Pakistan) / Ali Imran Qureshi (Pakistan) / Ali
and enhance Jawed (Pakistan) / Ali Raza (Pakistan) / Ali Usman (Pakistan) / Ali Yaqoob
(Pakistan) / Alice Ong Ynn Ting (Malaysia) / Aliff Bin Mohamed Adib (Malaysia)
your prospects. / Aliraza M Mohamedali (Kenya) / Aliza Nusrat (Bangladesh) / Alleyne, A M
(Trinidad and Tobago) / Alli, J Y (Guyana) / Ally, B N (Guyana) / Alphaeus Lim Tze
Liang (Malaysia) / Al-Sariri, Z T S (Oman) / Alveena Tahir (Pakistan) / Alwahaibi,
 STUDENT ACCOUNTANT 05/2009
Passed CAT? Why stop there? Find out about the ACCA Qualification at
www.accaglobal.com/join/acca
A S S (Oman) / Alwiya Nassir (Kenya) / Alyaa Nazihah Mohd Nazari (Malaysia)
Ambreen Anis (Pakistan) / Amedee, B C (St Lucia) / Ameer Ul Azeem (Pakistan)
Amelia Bt Nor Safuan (Malaysia) / Amin, A (UK) / Amin Nor Rashid Zainal
(Malaysia) / Amir Islam (Pakistan) / Amir Khan (Pakistan) / Amir Riaz (Pakistan)
/ Amirul Hisham (Malaysia) / Ammar Khalid Manj (Pakistan) / Ammar Rehman
(Pakistan) / Amna Ijaz (Pakistan) / Amna Nisar (Pakistan) / Amoyaw, G M
(Ghana) / Amrita Devi Jhowry (Mauritius) / Anam Khan (Pakistan) / Anam
Mumtaz (Pakistan) / Anastasiou, N (Cyprus) / Andrew, M (Malawi)
Aneel Iqbal (Pakistan) / Anees Akhtar (Pakistan) / Ang, J (Malaysia) / Ang Dedy
Abady (Singapore) / Ang Ee Lean (Malaysia) / Ang Li Fen, A (Singapore) / Ang
Mean Suan (Singapore) / Ang Yan Ping, J (Malaysia) / Anila Riaz (Pakistan) /
Aniqa Latif (Pakistan) / Aniqa Yousaf (Pakistan) / Anjum Tahir (Pakistan) / Anna
Ding Mee Kwong (Malaysia) / Annie Ting (Malaysia) / Anthony, D (Antigua and
Barbuda) / Anthony, K P (Malaysia) / Anton (Malaysia) / Anum Malik (Pakistan)
/ Anum Shahid (Pakistan) / Anum Zaffar (Pakistan) / Anusia Subramaniam
(Malaysia) / Anwar, M (UK) / Anye, N N (UK) / Aqeel Ahmed (Pakistan) / Aqib
Jamshed (Pakistan) / Ariff Shazrel Maricar (Malaysia) / Arokeeya Samey, S M
(Malaysia) / Arsalah Basit (Pakistan) / Arsalan Farooqui (Pakistan) / Arsalan
Haider (Pakistan) / Arsalan Mohammad Anwar (Bahrain) / Arshad Khan
(Pakistan) / Arshid Hamid, A (Pakistan) / Arslan Abbas (Pakistan) / Arslan Akhter
(Pakistan) / Arslan Akram (Pakistan) / Arslan Jatoi (Pakistan) / Arslan Shahid
(Pakistan) / Arslan Shahid (Pakistan) / Artakas, A (Cyprus) / Asad Ali (Pakistan)
/ Asad Ayub (Pakistan) / Asad Elahi (Bangladesh) / Asad Ghafoor (Pakistan)
/ Asad Mahmood Rajput (Pakistan) / Asad Mehmood (Pakistan) / Asad Ur
Rahman (Pakistan) / Asad-Ullah, M (UK) / Asfand Yar Khan (Pakistan) / Asfand
Zubair Malik (Pakistan) / Ashrina Radha Nathan (Malaysia) / Asif Hayat Malik
(UK) / Asif Raheem Khan (Pakistan) / Asif Waqas (Pakistan) / Asim Bashir Butt
(Pakistan) / Asjad Naseer (Pakistan) / Asma Lily Ismail (Malaysia) / Asma Munir
(Pakistan) / Asmar Irfan (Pakistan) / Asmat Ullah (Pakistan) / Asome, N (Trinidad
and Tobago) / Atif Ghaffar (Pakistan) / Atif Mustafa (Pakistan) / Atif Shahid
(Pakistan) / Atman Bin Khairulfaz (Malaysia) / Attaullah (Pakistan) / Audrey Mah
Jia Hsing (Malaysia) / Aun Raza (Pakistan) / Aung Kyaw Oo (Singapore) / Aung
Myo Min (Myanmar) / Aurangzeb Jabbar Abro (Pakistan) / Autar, R (Guyana) /
Awais Ahmad (Pakistan) / Awais Ali Mir (Pakistan) / Awais Azhar Khan (Pakistan)
/ Ayaz Ahmed (Pakistan) / Ayaz Ahmed (Qatar) / Ayaz Hassan Khan (Pakistan) /
Ayaz Sattar (Pakistan) / Aye Thet Mon (Singapore) / Aye Thet Mon (Myanmar) /
Ayesha Ali (Pakistan) / Ayesha Hassan (Pakistan) / Ayesha Iftikhar (Pakistan) /
Ayesha Khaliq (Pakistan) / Ayikoru, S (Uganda) / Azad, A (UK) / Azah, T (UK) /
Azam Mehmood (Pakistan) / Azeema Khan (Kuwait) / Azfar Hussain Chaudhary
(Pakistan) / Azhar Arshad (Pakistan) / Azira Hanina Bt Rosman (Malaysia)
Azirah Bt Mohd Hashim (Malaysia) / Aziz Ur Rehman (Pakistan) / Aznaouridou, O
(Cyprus) / Azreena Zahira Harith (Malaysia) / Azumath (Malaysia)
B Chavula, H S (Malawi) / Chavula, P (Malawi) / Chea, V (Cambodia) / Chea Chee
B Kumar, P J (Malaysia) / Bacchus, A (Guyana) / Bachan, M (Trinidad and
Tobago) / Badat, S A (Malaysia) / Badjie, D (Gambia) / Bae, H (Singapore)
Bagofa Mbieuleu, C (Cameroon) / Bagot, N (Antigua and Barbuda) / Bah, A
(Sierra Leone) / Bah, A (Gambia) / Bah, A U (Sierra Leone) / Bah, F B (Sierra
Leone) / Bah, M L (Sierra Leone) / Bah, O B (UK) / Bainda, S (Sierra Leone)
Baker, B P (Jamaica) / Balkaran, K (Trinidad and Tobago) / Balkisoon, M
(Guyana) / Banda, E L (Malawi) / Banda, N (Zambia) / Banda, R M (Zambia) /
Banda, T (Zambia) / Bangirana, W (Uganda) / Bangura, H (Sierra Leone)
Bangura, I (Sierra Leone) / Bangura, S (Sierra Leone) / Bangwe, L (Zambia)
Baqir Alqamari (Pakistan) / Baral, S (Nepal) / Barani (Myanmar) / Barcovschi,
C (Ireland) / Barnes, M (Ireland) / Barrett, N R (Jamaica) / Bartholomew, D J
(Grenada) / Basil Ahmad Nasir (Pakistan) / Battis, D S C (Sierra Leone)
Bawm Nam (Singapore) / Beaman, E L (Ireland) / Bedasie, G (Trinidad and
[[2r]]
65
Tobago) / Bedessie, B R (Guyana) / Beenish Meraj (Pakistan) / Belle, S (UK) /
Benjamin, M (Malaysia) / Benn-Pickering, S A (Guyana) / Bhagwat, D (Trinidad
and Tobago) / Bhandari, R (India) / Bhullar, D S (Malaysia) / Bibi Rabina
Khan (Guyana) / Bigurube, M G (UK) / Bilal, A (UK) / Bilal Abbasi (Pakistan)
/ Bilal Ahmad (Pakistan) / Bilal Ahmed (UK) / Bilal Ahmed (Pakistan) / Bilal
Akram (Pakistan) / Bilal Ali (Pakistan) / Bilal Amjad (Pakistan) / Bilal Anwar
(Pakistan) / / Bilal Faheem (Pakistan) / Bilal Hanif (Pakistan) / Bilal Jamil
Malik (Pakistan) / / Bilal Mukhtar Dar (Pakistan) / Bilal Quddus (Pakistan) /
Bilal Rafiq (Pakistan) / Bilal Shaukat Khanzada (Pakistan) / Bin Yousaf, A R
(Pakistan) / Binali, J (Malawi) / Bipasha, R A (Bangladesh) / Bishun, Y (Guyana)
/ Bisma Noor (Pakistan) / Bisma Rabbani Qureshi (Pakistan) / Bisma Seemab
(Pakistan) / Blake, D (Trinidad and Tobago) / Blanchard, A M (UK) / Blyden, F
T (Guyana) / Boafo Bekoe, B (Ghana) / Boima, E G (Sierra Leone) / Bonaparte,
E E B (Grenada) / Bonfield, L A (UK) / Bong Ti Chung (Malaysia) / Bonongwe, C
(Malawi) / Boodhai, M (Guyana) / Bookholane, L F (Lesotho) / Bovdey, C (Ireland)
Bovelle, N (Guyana) / Bowen, C (Jamaica) / Boyce, J (Ireland) / Boyle, S P
(Ireland) / Brent-Harris, A (Trinidad and Tobago) / Bridge, R J (UK) / Brijnandan,
A (Guyana) / Brown, M J (UK) / Brown, S A (Jamaica) / Browning, L M (UK)
Bryan, K D (Jamaica) / Bryson, A A (Jamaica) / Bt Nazaruddin, N H (Malaysia)
Budhathoki, P (Nepal) / Bugovska, O (Ireland) / Bulchandani, R (United Arab
Emirates) / Buleya, U A (Malawi) / Burhan Hassan (Pakistan) / Burke, M
(Barbados) / Burke, P (Ireland) / Burke, S M (Barbados) / Burnett, S (Guyana) /
Burns, B M (UK) / Burrows, M (Bahamas) / Burton, E M (UK) / Busek Figiel, M
(Ireland) / Bushra Asad (Pakistan) / Butt, B J (Pakistan) / Bvulani, M S (Zambia)
/ Bwalya, K (Zambia) / Byrne, M (Ireland)
C
Cagney, S A (Ireland) / Cairi (Singapore) / Callender, S (Trinidad and Tobago)
/ Camacho, R J (Guyana) / Cameron, M (Guyana) / Campbell, A (Jamaica) /
Campbell, V (Trinidad and Tobago) / Cannon, H J (Trinidad and Tobago) / Cao
Thu Huong (Vietnam) / Capiron Clain, M V P (Mauritius) / Castillo, A (Trinidad
and Tobago) / Catherine, T S J (Malaysia) / Caulker, A (Sierra Leone) / Ceres, G
(Guyana) / Chai Ee Lin (Malaysia) / Chai Huey Shan (Malaysia) / Chai Lee Mei
(Malaysia) / Chai Len Hwa (Malaysia) / Chai Sau Ling (Singapore) / Chakulunta,
W (Zambia) / Chalema, E B (Malawi) / Chaloraju, P (Malaysia) / Cham, S
(Gambia) / Cham, S (UK) / Cham Chin Shiee (Malaysia) / Chan, K Y (Malaysia) /
Chan, T J (Malaysia) / Chan Hooi Lin (Malaysia) / Chan Li Lin (Malaysia) / Chan
Lih Ling (Malaysia) / Chan Liping, J (Singapore) / Chan Mei Yee (Malaysia) / Chan
Pei Da (Singapore) / Chan Yee Hsuan, K (Singapore) / Chan Zhen Ni (Malaysia) /
Chance, O (Guyana) / Chandio, S M (Pakistan) / Chandr Sen (Pakistan) / Chang,
L Y (Malaysia) / Chang, W H (Malaysia) / Chang Fui San (Malaysia) / Chansa, S
(Zambia) / Chaomba, J (Malawi) / Charles, L R (Grenada) / Charles, R (Trinidad
and Tobago) / Chaudhry, A M (UK) / Chaudhry Muhammad Sohaib (Pakistan) /
Fei (Malaysia) / Cheah Joe Hang (Malaysia) / Cheak Qin Ying (Malaysia) / Chee,
S F (Malaysia) / Chee, S W (Malaysia) / Chee Yen Wei (Malaysia) / Chen, C W
D (Malaysia) / Chen Chao (China) / Chen Honghui (Singapore) / Chen Li Mei, J
(Singapore) / Chen Mian Sian, B (Malaysia) / Chen Qi (Singapore) / Chen Qijia
(Singapore) / Chen Shi Ying (Singapore) / Chen Wei Yoke (Brunei Darussalam) /
Chen Xia (Singapore) / Chen Yew Li (Singapore) / Chenda, V (Cambodia) / Cheng,
E (Malaysia) / Cheong Zheng Ni (Malaysia) / Chern Zong (Singapore) / Chetna
A/P Haresh (Malaysia) / Chew, J (Malaysia) / Chew Kai Yeng (Malaysia) / Chewe,
E M (Zambia) / Chi Wei Jin (Singapore) / Chia, M R (Singapore) / Chiak Wei Leng
(Singapore) / Chiang Zi Loon (Malaysia) / Chiew Sze Ling, K (Malaysia) / Chigali,
J (Zambia) / Chigona, B (Malawi) / Chigwede Kachika, T T (Malawi) / Chikosa,
M (Malawi) / Chileshe, C (Zambia) / Chileshe, R (Zambia) / Chilufya, G (Zambia)
/ Chimbalanga, S (Malawi) / Chimbayo, C (Malawi) / Chimteka, G O (Malawi) /
66 CAT PASSED FINALISTS

‘CAT OFFERED ME A DIRECT ROUTE TO THE ACCA QUALIFICATION

AND HELPED ME DEVELOP THE NECESSARY COMPETENCIES
TO BECOME A ROUNDED PROFESSIONAL. IT STRENGTHENED
MY TECHNICAL KNOWLEDGE AND PREPARED ME FOR THE
TRANSITION TO THE ACCA QUALIFICATION. NOT HAVING
PREVIOUSLY GRADUATED HASN’T HELD BACK MY CAREER,
AS I OBTAINED A BSC IN APPLIED ACCOUNTING FROM
OXFORD BROOKES UNIVERSITY AFTER PROGRESSING TO THE
ACCA QUALIFICATION. AS ACCA IS RECOGNISED GLOBALLY,
IT’S A PASSPORT TO WORKING INTERNATIONALLY.’
YEASHANT SINGH – ACCA MEMBER

Chin, G A M (Jamaica) / Chin, P Y (Malaysia) / Chin, Y K (Malaysia) / Chin, Y M

(Jamaica) / Chin Chui Fong (Singapore) / Chin Lai Yeng Doris (Singapore) / Chin
Meei Lan (Malaysia) / Chin Xiuxin (Singapore) / Ching’Amba, F M (Malawi)
Chiong Yew King, R (Malaysia) / Chipalira, F W (Malawi) / Chipembele, M (Zambia)
/ Chipeta, M M (Malawi) / Chipeta, T (Malawi) / Chipopola, K (Zambia) / Chipota, E
(Zambia) / Chipula, M (Zambia) / Chipungu, M (Zambia) / Chirozva, F (Zimbabwe)
/ Chirwa, D (Zambia) / Chisanga, A (Zambia) / Chisanga, A H (UK) / Chisenga
Kalua, C I (Malawi) / Chishimba, M (Zambia) / Chisiye, L L (Malawi) / Chithambo,
M B (Malawi) / Chitonge, M (Zambia) / Chitseko Junior, D (Malawi) / Chiwowa, J
(Malawi) / Chiyuka, P (Zambia) / Chizala, W (Malawi) / Ch’Ng Ai Lin (Malaysia)
/ Ch’Ng How Sheng (Malaysia) / Ch’ng Hui Cheng (Malaysia) / Cho Chung Hian
(Malaysia) / Choh Leang Hui (Malaysia) / Chok Kent Hong, K (Malaysia) / Chokani,
R D (Malawi) / Chong, R X (Malaysia) / Chong Chin Wee (Malaysia) / Chong Jing
Jing (Malaysia) / Chong Mei Ting (Malaysia) / Chong Siew Fah (Malaysia) / Chong
Siew Lee (Malaysia) / Chong Swee Bee (Singapore) / Chong Wei See (Malaysia)
/ Chong Yew Keun (Malaysia) / Chong Yueh Shya, F (Singapore) / Chongo, P C
(Zambia) / Choo Poh Hong (Malaysia) / Choo Nyet Chin (Malaysia) / Choo Phooi
Yin, C (Malaysia) / Choo Wei Jie (Malaysia) / Choo Yuet Yen (Malaysia) / Chow, F
P S (Malaysia) / Chow Mei Chin (Malaysia) / Chow Phooi Yee (Malaysia) / Chow
Pooi Yen (Singapore) / Chow Thein Yein (Malaysia) / Chow Yan Hao, L (Malaysia) /
Chowdhury Rayhan (Bangladesh) / Choy, H Y (Malaysia) / Christian, A (Pakistan)
/ Christina, T Y L (Malaysia) / Chu Beng Hwee (Singapore) / Chua Hui Miang
(Malaysia) / Chua Jia Ee (Malaysia) / Chua Kang Ping (Malaysia) / Chua Mui
Chen, M (Singapore) / Chua Tiong Han, P (Malaysia) / Chua Wei Ming (Malaysia) /
Chua Yee Jo (Malaysia) / Chuah, Y S (Malaysia) / Chuah, Y S E (Malaysia) / Chuah
Meng Heng (Singapore) / Chudhary Zarghoon Kasana (Pakistan) / Chumba, K
(Zambia) / Chumba, P (Zambia) / Chung Chin Yew (Malaysia) / Chung Chui Ling
(Singapore) / Chung Jia Min, C (Malaysia) / Chung Mui Lin (Malaysia) / Chung
Qiyun (Singapore) / Cindy Gan Lay Hong (Malaysia) / Civil, C (UK) / Clark, A M (UK)
/ Cleeve, O (Sierra Leone) / Cliffe, M (Guyana) / Cloake, A (Trinidad and Tobago)
/ Coffey, M (Ireland) / Coker, S (Sierra Leone) / Colligan, D (Ireland) / Collins, K
(Cayman Islands) / Collister, A M (UK) / Comer, L (Ireland) / Comerford, R (Ireland)
 STUDENT ACCOUNTANT 05/2009
Where will your CAT qualification take you?
/ Constantine, A (Guyana) / Cooper, J E (Trinidad and Tobago) / Coreen Chua Jia
Lin (Malaysia) / Correia, D A (Guyana) / Cox, J (Jamaica) / Creer, J (UK) / Crooks, J
E (Jamaica) / Cunnane, C (Ireland) / Cunningham, N (Jamaica) / Cunningham, T J
(Guyana) / Curban, S (Trinidad and Tobago)
D / Fawad Ahmad (Pakistan) / Fefane, M J (Lesotho) / Fennell, E M (UK) / Fermin
D Souza, S E (UK) / d/o Manzoor Ahmed Memon, A M (Pakistan) / Da Silva
Pompey, M (St Vincent) / Dalila Binti Mohd Roslan (Malaysia) / Daniel, K
(Trinidad and Tobago) / Daniel, R I (Trinidad and Tobago) / Daniels, C (Guyana)
/ Daniels, D (Trinidad and Tobago) / Danish Ahmed (Pakistan) / Daniyal Akram
(Pakistan) / Daniyal Safdar Ali (Pakistan) / Dany Mathew, B (Bahrain) / Daoh,
S A B (Sierra Leone) / Darvina (Indonesia) / Das, S (UK) / Dautaj, S (Serbia) /
Dave, S (India) / Dave, T (Zambia) / David, S J (Pakistan) / David Joseph Low
(Malaysia) / Davidenko, E (Malta) / Davis, A P (Jamaica) / Davis, S L (UK) /
Dayandranathbani Raj (Malaysia) / Ddharrsheeni Dhanajeyan (Malaysia) / De
Araujo, A (UK) / De Clou, S B (Guyana) / Deepak Kharel (Singapore) / Delowar
Hossain (Bangladesh) / Denny-Brown, F M (Jamaica) / Deonarayan, V (Guyana)
/ Derolland, Y (Switzerland) / Desmond Lam Kah Weng (Malaysia) / Dessy Diana
(Malaysia) / Desy (Singapore) / Devane, S (Ireland) / Deveau, S (UK) / Devine,
A (Ireland) / Devonish, R (Guyana) / Diaho, M (Lesotho) / Diggins, E (Ireland) /
Dinesh Singh (Malaysia) / Ding Jin Na (Singapore) / Ding Lee Hoon (Singapore)
/ Dinshkummar (Malaysia) / Diolas, A (Cyprus) / Diong Ai Fong (Malaysia)
/ Disenyang, B (Botswana) / Divvyananthini Manoharan (Malaysia) / Divyaa
Amiappan (Malaysia) / Djongo Fouegue, F M (Cameroon) / Dodaja, R K (Pakistan)
/ Dogra, B (UK) / Donald, M (UK) / Doran, C (Ireland) / Dossantos, R (UK) /
Downey, A M (Ireland) / Drammeh, Y (Gambia) / Duan Meng Yu (Singapore)
Dukuray, K (Sierra Leone) / Duncan, J (UK) / Dunkley, D (UK) / Dupreez, S T
(Lesotho) / Durity, K A (Trinidad and Tobago) / Dzulehsan Zulkifli (Malaysia)
E (Pakistan) / Glasgow, P A (Guyana) / Glushkova, E (Cyprus) / Gobin, S (Guyana)
Edgar, C J (UK) / Edzwanie Salfena (Malaysia) / Ee Jia Wen, A (Malaysia)
Effaliana Bt Mohd Farid (Malaysia) / Ei Ei Phyo (Myanmar) / Ei Mon Kyaw
(Myanmar) / Ei Phyu Pyar (Myanmar) / Ejoh, J (UK) / Eleftheriou, S (Cyprus)
Elfi (Singapore) / Elizabeth Saon Yien Yien (Malaysia) / Elliz R Affendee (UK) /
Emmanuel, S N (Trinidad and Tobago) / Enayetur Rahman, M (Bangladesh)
Endhart, C (UK) / Eng Huey Huey (Singapore) / Erayoma, M O (Sierra Leone)
/ Erma Russell (Pakistan) / Ernawaty (Singapore) / Esho, O (UK) / Esnouf, R
(UK) / Esteve, M (Ireland) / Evelyn Kiew Chieh Sing (Malaysia) / Eyrij Salahuddin
(Pakistan) / Ezinwoke, P G C (UK)
F Grimwood, S J (UK) / Gu Feng (Singapore) / Gu Linlin (China) / Gudadi, F M
Fahad Bashir (Pakistan) / Fahad Mehmood (Pakistan) / Fahad Pervez Wahid
(Pakistan) / Fahad Rafi (Pakistan) / Faheel Qayyum (Pakistan) / Faheem Abbas
(Pakistan) / Faheem Mehboob (Pakistan) / Fahim Ahmed (Bangladesh) / Fai
Ethel Kilah (Cameroon) / Faisal Humayun (Pakistan) / Faisal Imran (Pakistan)
/ Faisal Iqbal (Pakistan) / Faisal Javed (Pakistan) / Faisal Kamran (Pakistan) /
Faisal Munir (Pakistan) / Faiza Mushtaq (Kuwait) / Faizan (Pakistan) / Faizan
Ahmed (Pakistan) / Faizan Farooq (Pakistan) / Faizan Khan (Pakistan) / Faizan
Zaman (Pakistan) / Faizan-Ur-Rehman Khalid (Pakistan) / Faizul Rahim (Malaysia)
/ Fam, A S L (Malaysia) / Fam Hui Yann (Singapore) / Fan Min Li (Malaysia) /
Farah Nadia Mohamed Masri (Malaysia) / Faran Ahmed (Pakistan) / Farasat Ali
(Pakistan) / Fareeha Javed (Pakistan) / Fareeha Kausar (Pakistan) / Farhan Gulzar
(Pakistan) / Farhan Matloob (Pakistan) / Farhan Rasheed (Pakistan) / Farid
Iqbal (Pakistan) / Farida Haiderali Jaffer (Tanzania) / Fariduzzaman, M (UK) /
Farinafathin Salim (Malaysia) / Farinha, D N (Guyana) / Farooq, H (Pakistan)
Farooq Manzoor (Pakistan) / Farrah Wahida Mohdzin (Malaysia) / Farrington,
S (UK) / Farrukh Ahmad (Pakistan) / Farrukh Munir (Pakistan) / Farwa Zahra
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(Pakistan) / Fasihah Md Tahib (Malaysia) / Fateen Afzal (Pakistan) / Fateh-ud-
Din Tahir (Pakistan) / Faten Naeem Butt (Kuwait) / Fatihah Wadhihah Ismail
(Malaysia) / Fatima Aman (Pakistan) / Fatima Asghar (Pakistan) / Fatima Shiraz
Ahmed (Pakistan) / Fatima Waqar (Pakistan) / Fatimah Ghulam Mohiyuddin
(Saudi Arabia) / Fatinah Balqis SF Salim (Malaysia) / Fatir Mobeen (Pakistan)
Alexander, J (Trinidad and Tobago) / Fernando, K R B (UK) / Finnegan, C (Ireland)
/ Firoz Ahmmad (Bangladesh) / Fitzgerald, D (Ireland) / Fiza Arif (Pakistan)
/ Fiza Mushtaq (Pakistan) / Fletcher, J (St Lucia) / Fofana, A (UK) / Fong Jia-I
(Malaysia) / Foo, L W (Malaysia) / Foo, S N (Guyana) / Foo Chee Keong, A
(Malaysia) / Foo Lynn Shane (Malaysia) / Foo Siou Yen (Malaysia) / Foo Wai
Chern, A (Malaysia) / Fouzia Hameed (Pakistan) / Fouzia Sarwar (Pakistan) /
Francis, O B (Dominica) / Francis Chan, H H (Malaysia) / Franklin, S A (UK) /
Fraser, K (UK) / Fu Wei, A (Singapore) / Fu Xiao Chen (China) / Fung, J (Malaysia)
/ Furqan Ghani (Pakistan) / Furqan Saeed (Pakistan) / Futhy, V (Mauritius) /
Fyffe, A (Jamaica)
G
G Halal Jlou, S (UK) / Gadamika, J (Malawi) / Gallie, N (UK) / Gama, B (Malawi)
/ Gan, A L (Malaysia) / Gan, H L (Malaysia) / Gan, L N (Malaysia) / Gan Beng
Wee (Malaysia) / Gan Hui Hoon (Malaysia) / Gan Hwi Suan (Malaysia) / Gan Jin
Huei, A (Malaysia) / Gan Shiao Ching (Singapore) / Gan Swee Fah (Singapore)
/ Gan Wei Yi (Malaysia) / Gan Yee Ing (Singapore) / Ganesh, A (Guyana) / Gao
Bing (China) / Garwood, D Y (UK) / Gavrielides, E (Cyprus) / Gayetri Sharma
(Malaysia) / Geaney, R (UK) / Gee Mei Yin (Malaysia) / Geetha Girish, N (Bahrain)
/ George, D D (Trinidad and Tobago) / George Wong Je Sen (Malaysia) / Georgiou,
G (Cyprus) / Ghanny, F (Trinidad and Tobago) / Ghayyor Ali (Pakistan) / Ghaznfar
Hassan (Pakistan) / Ghulam Mujtaba (Pakistan) / Ghulam Murtaza Khan
(Pakistan) / Ghulam Rasoul (Afghanistan) / Gilbert, S (St Lucia) / Gitee Bhatti
/ Goh, S C (Malaysia) / Goh, S W (Malaysia) / Goh Chin Hooi (Malaysia) / Goh
Hooi Chin (Malaysia) / Goh Lek Heok (Singapore) / Goh Li Ling (Malaysia) / Goh
Mei Hia (Malaysia) / Goh Pei Ji (Malaysia) / Goh Shu Ping (Malaysia) / Goh Tin
Nee, S (Singapore) / Goh Wee Long (Malaysia) / Goh Xin Yi (Singapore) / Goh
Yen Ting (Malaysia) / Goldberg, C (Israel) / Gomani, P (Malawi) / Gong Ye (China)
/ Gopaul, A (Trinidad and Tobago) / Gopinath, V (Zambia) / Gordon Davey, D
(Jamaica) / Gorst, J W (UK) / Grace Lim So Ee (Malaysia) / Grant, E O (UK)
Grant, S R (UK) / Grant, T A (Guyana) / Grant-Miller, K M (Cayman Islands)
Gray, R R (Jamaica) / Green, A L (Barbados) / Green, S (UK) / Green, T M
(Lesotho) / Greenford Mwanza, S (Zambia) / Griffith, K (Trinidad and Tobago)
(Indonesia) / Gulfatima M Iqbal (Pakistan) / Gulshan S Alidina (Tanzania) /
Gunde, F I (Malawi) / Gungadur, D (UK) / Guo Kai (Singapore) / Guo Shuai (UK)
Guzman Castro, M (Ireland) / Gwunireama, M U (UK)
H
H M Masud Morshed (Bangladesh) / Habib Ullah (Pakistan) / Hadia Mehmood
(Pakistan) / Hadiya Ijaz (Pakistan) / Hadjisavva, N (Cyprus) / Hadri Bin Zaini
(Malaysia) / Haeryuli Bt Mohd A Chin (Malaysia) / Hafiz Ammar Ahmad
(Pakistan) / Hafiz Danish (Pakistan) / Hafiz Faizan Ul Hassan (Pakistan)
Hafiz Fraz Nazir (Pakistan) / Hafiz Jawad Ali (Pakistan) / Hafiz M Abdul Saboor
Khan (Pakistan) / Hafiz M U Shahid (Pakistan) / Hafiz M Umair Abbas Anjum
(Pakistan) / Hafiz Muhammad Ikram (Pakistan) / Hafiz Sami Ullah (Pakistan)
/ Hafiz Shakir Awan (Pakistan) / Hafiz Usman Abdullah (Pakistan) / Hafiz
Waqas Ahmad (Pakistan) / Hafiza Mariyam Rauf (Pakistan) / Hafsa Ahmad
(Pakistan) / Haidari, M A (Afghanistan) / Haider Farooq (Pakistan) / Halimatus
Sa’Diah (Malaysia) / Hall, S M (UK) / Hamaad Raza (Pakistan) / Hamad Shahid
68 CAT PASSED FINALISTS
(Pakistan) / Hamed (Afghanistan) / Hamer, Y (Jamaica) / Hamid, S (United
Arab Emirates) / Hammad Ali Khan (Pakistan) / Hammad Hassan (Pakistan) /
Hamood Ur Rehman (Pakistan) / Hamza Ansari (Pakistan) / Hamza Aurang Zeb
(Pakistan) / Hamza Faizan (Pakistan) / Hamza Muhammed Ismai (Pakistan)
/ Hamza Saleem (Pakistan) / Han Kwee Moi (Singapore) / Han Le (China) /
Han Mui Gan (Singapore) / Han Xin Xi (UK) / Hanif Ur Rahman (Pakistan) /
Hantolo Muzyamba, J (Zambia) / Hao Li (Singapore) / Haque, S (Bangladesh) /
Hardarshan Singh (Malaysia) / Haris Ilyas (Pakistan) / Haris Mahmood (Pakistan)
Harney, R (Ireland) / Haroon Amjad (Pakistan) / Haroon Ur Rasheed (Pakistan)
/ Harpevinderjit Singh (Malaysia) / Harris, C (Jamaica) / Harrison, O (Jamaica /
Harrowell, K M (South Africa) / Harshvadan Joshi, D (Malaysia) / Hasan Shahid
(Pakistan) / Hasan Tarek, K M (Bangladesh) / Haseeb Ahsan (Pakistan) / Haseeb
Sattar Khan (Pakistan) / Hashim Zahid (Pakistan) / Hasib Zaka (Pakistan) /
Hasnain Bin Khizar (Pakistan) / Hasnain Raza Khan (Pakistan) / Hasnain Sabir
(Pakistan) / Hassan, K (UK) / Hassan, R (Guyana) / Hassan Abid (Pakistan) /
Hassan Aftab (Pakistan) / Hassan Ali (Pakistan) / Hassan Haroon (Pakistan)
/ Hassan Ibrahim (Pakistan) / Hassan Iqbal (Pakistan) / Hassan Mahmood
(Pakistan) / Hassan Mukhtar (Pakistan) / Hassan Razzaq (Pakistan) / Hassan
Saleem (Pakistan) / Hassan Sohail (Pakistan) / Hassim, J (Trinidad and Tobago) /
Hau Jia Sing (Malaysia) / Heanue, L (Ireland) / Hee Nyok Lian (Malaysia) / Hema
A/P Raviadaran (Malaysia) / Hema Nathan Raja Gopal (Malaysia) / Henderson,
D (Ireland) / Henry, M T (Jamaica) / Hew, L Y (Malaysia) / Hew, W S (Malaysia) /
Hifza Ali (Pakistan) / Hii, L Y (Malaysia) / Hii Kah Ying, P (Brunei Darussalam)
Hii Yuik Shan (Malaysia) / Hiisma Binti Haidzir (Malaysia) / Hina Tahir (Pakistan)
Hing Yi Yi (Malaysia) / Hira Javed (Pakistan) / Hira Munawar (Pakistan) / Hira
Shama Akbar (Pakistan) / Hira Tariq (Pakistan) / Hirani, S R A (Pakistan) / Hird,
E (UK) / Hirst, A R (UK) / Hla Hnin Nwe (Myanmar) / Hlabeli, T (Lesotho) /
Hlepholi, M A (Lesotho) / Hnin Nu Wai (Singapore) / Hnin Pwint Phyu (Myanmar)
/ Ho, C T (Malaysia) / Ho, C Y (Malaysia) / Ho Chai Shi (Malaysia) / Ho Moon
Ying (Malaysia) / Ho Yee Chuan (Malaysia) / Hoang Thi Hai Yen (Vietnam) /
Hodson, A M (Ireland) / Hoh, H T (Malaysia) / Holex, B S (Guyana) / Holland,
E J (UK) / Hollinger, S (UK) / Holoane, F T (Lesotho) / Hon Ee Von (Malaysia) /
Hong, E L (Malaysia) / Hong Chee Kiat, H (Singapore) / Hongo, M O (Kenya) /
Hood, K C (Grenada) / Hooi Carrie (Malaysia) / Hossain M Himel, M (UK) / How
Gek Ngor (Singapore) / How Xiao Chin (Malaysia) / Hoyte, K (Barbados) / Htet
Yamin Hlaing (Myanmar) / Hu Jing (Singapore) / Hu Zhi Yu (Singapore) / Hu
Zi Yang (Singapore) / Hua Kunyin (Singapore) / Huang Qingyuan (Singapore)
/ Hue, H M (Malaysia) / Huggins, I C (Trinidad and Tobago) / Humair Shaukat
(Pakistan) / Humayon Shafique (Pakistan) / Hurain Waheed (Pakistan) / Hurair
Ahmed (Pakistan) / Husna Iqbal (Pakistan) / Husnee Sitara Jahan (Bangladesh)
/ Hussain Amir (Maldives) / Hussein, J (UK) / Husseinali Shaban (Tanzania) /
Huynh Thi Trang, N (Vietnam) / Hyder Ali (Pakistan) / Hyman, S R (Jamaica) /
Hynes, J (Ireland)
I / Kaperemera, J C (Malawi) / Kaphweleza, B (Malawi) / Kapinda, M A (Malawi)
Ibrahim Shah (Pakistan) / Ibrahim Shareef (Maldives) / Iffah Mohd Hatta
(Malaysia) / Iftekharul Quadir, S (UK) / Iftikhar Chaudri, K (Pakistan) / Iganza
Ukiru, S (Kenya) / Ijlal Masood (Pakistan) / Ikram, O (Pakistan) / Ilande, B Y
(Malawi) / Ili Hanim Abdul Hadi (Malaysia) / Im Samol (Cambodia) / Imran
Amin (Pakistan) / Imran Arshad (Pakistan) / Imran Imtiyaz Abbas (Tanzania) /
Imran Khan (Pakistan) / Imran Mehboob (Pakistan) / Imran Sarfraz (Pakistan)
/ Imran Yusuf (UK) / Imran Zafar (Pakistan) / Imtiaz Mahmud (Bangladesh) /
Inam-Ur-Rehman (Pakistan) / Inoue, Y (UK) / Inshanally, F (Guyana) / Intisar
Amjad (Pakistan) / Inward, G E (UK) / Inzali Soe Han (Myanmar) / Iqbal, S
M F(Pakistan) / Iqra Umer (Pakistan) / Ireen, T (Bangladesh) / Irfan Lateef
(Pakistan) / Irfan Ullah (Pakistan) / Irfan Ullah (Pakistan) / Irfan Yaqoob
(Pakistan) / Isabel Wong Ping (Malaysia) / Ishmael, S (Guyana) / Islam, M T (UK)
Islam Ullah Khan (Pakistan) / Iun, J Q (Malaysia) / Izat Shah (Pakistan) / Izza
Waheed (Pakistan) / Izzah Zafirah Khalilah (Malaysia) / Izzat Rozidin (Malaysia) /
Izzati Abdul Jamal (Malaysia) / Izzati Hanani Hizam (Malaysia)
J
Jack, R (Trinidad and Tobago) / Jae, R (Lesotho) / Jaglal, L A (Trinidad and
Tobago) / Jagvinder Singh (Malaysia) / Jahangir Khan (Pakistan) / Jahanzaib
Durrani (Pakistan) / Jahanzeb Ali Raza (Pakistan) / Jaiantilal, T (Mozambique) /
Jaikaran, S (Trinidad and Tobago) / Jalloh, M (Sierra Leone) / Jamal, S (Pakistan)
/ Jamal Khalid (Pakistan) / James, C M (Trinidad and Tobago) / Jamshed Khan
(Pakistan) / Jamshid Ali (Pakistan) / Jasen Ho Cya Wei (Singapore) / Jasimuddin,
M D (Bangladesh) / Jaskaran, T (Guyana) / Javed, R (Pakistan) / Jawad Ahmed
(Pakistan) / Jawad Ali Malik (Pakistan) / Jawad Falak (Pakistan) / Jawad Khan
(Pakistan) / Jawairia Cheema (Pakistan) / Jeannie Poh (Malaysia) / Jebode, R
(Trinidad and Tobago) / Jee Yi Hong (Malaysia) / Jeetesh Kumar (Pakistan) /
Jeffrika Kesuma (Singapore) / Jeng, H (Gambia) / Jerahmeel Jalal (Pakistan) /
Jere, F (Zambia) / Jere, S (Zambia) / Jeyab Abdullah (Afghanistan) / Jia Danyang
(Singapore) / Jia Hongyu (Malaysia) / Jibran Ali Khan (Pakistan) / Jin Xin
(Malaysia) / Jing, J (Singapore) / Jinni Xie (Singapore) / John, T (Trinidad and
Tobago) / Johnson, S (UK) / Johnson, S B (Sierra Leone) / Jones, H K (Cayman
Islands) / Jong Khin Ming (Malaysia) / Jong Kui Hiong (Malaysia) / Jong Pei Tze
(Singapore) / Jose, S (Ireland) / Joseph, A M (Sierra Leone) / Joseph-Ajao, A
(Nigeria) / Joshi, D (Nepal) / Joshi, S (Nepal) / Joyce Cheng Ee Teng (Malaysia)
/ Ju Tingting (China) / Jubair Zaman Khan (Bangladesh) / Judd, T N V (UK) /
Junaid Ahmad Shahzad (Pakistan) / Junaid Ahmad Wains (Pakistan) / Junaid
Iqbal (Pakistan) / Juteram-Sewnauth, N L (Trinidad and Tobago)
K
Kabaganda, J (Uganda) / Kabango, N S (Malawi) / Kabeer Muhammad (Pakistan)
/ Kabia, A (Sierra Leone) / Kabir Hossen (Bangladesh) / Kabungo, M (Zambia) /
Kabwe, T (Zambia) / Kachala, A (Malawi) / Kachedwa, R H (Malawi) / Kacheyo,
F G T (Malawi) / Kachikoti, L (Malawi) / Kachulu Mbewe, S M (Malawi) / Kadoo,
R (Trinidad and Tobago) / Kadzombe, H A (Malawi) / Kakompe, S (Zambia) /
Kakupa (Zambia) / Kalake, P G (Lesotho) / Kalam, F (UK) / Kaleem Hassan
(Pakistan) / Kalloo, P (Trinidad and Tobago) / Kalua, S V (Malawi) / Kam Pei Yee
(Singapore) / Kam Wei Onn, A (Malaysia) / Kamanga, S (Zambia) / Kamara, H
(Sierra Leone) / Kamara, S I (Sierra Leone) / Kambale, F (Malawi) / Kamera, S
C (Malawi) / Kamowa, M (Malawi) / Kamran Akhtar (Pakistan) / Kamran Amir
(Pakistan) / Kamran Manzoor (Pakistan) / Kamran Rasool (Pakistan) / Kamran
Zafar (Pakistan) / Kanageswaran Veerasamy (Malaysia) / Kang, P H (Malaysia)
/ Kang, S W L (Brunei Darussalam) / Kang Pick San (Malaysia) / Kang Yew
Geok, S (Singapore) / Kangwa, N L (Zambia) / Kantor, M (UK) / Kanwal, T
(Oman) / Kanwal Khursheed (Pakistan) / Kanza Khalid (Pakistan) / Kaomba, M
D (Malawi) / Kaona, H (Zambia) / Kaonga, A (Zambia) / Kapembwa, E (Zambia)
/ Karen Ong Suet Lynn (Malaysia) / Karen Tay Jialin (Malaysia) / Karera, S
(Pakistan) / Kaseka, E (Malawi) / Kashif Abbas (Pakistan) / Kashif Abbas Khan
(Pakistan) / Kasito, I (Zambia) / Kasongola, B (Zambia) / Katandika Phiri, F
(Malawi) / Kathayat, R (Nepal) / Kathewera, Z M (Malawi) / Katongo, R (Zambia)
/ Kaur, K (Malaysia) / Kausu, E M (Zambia) / Kavaljit Singh (Malaysia) / Kavitha
A/P Thuraisingam (Malaysia) / Kawane, K (Botswana) / Kawazoe, K (UK) / Kazi,
F (Bangladesh) / Kazi Aijaz Qureshi (Pakistan) / Kazim Meraj (Pakistan) / Keady,
M (Ireland) / Kearsey, M (UK) / Kee Lean Lean (Malaysia) / Kek, J Y V (Malaysia)
/ Kellawan, D M (Guyana) / Kellingray, W (UK) / Kelly, F S (UK) / Kelly, R (UK)
/ Kemp, M I (UK) / Keo, M (Cambodia) / Kevin Lee Ho Khye Vern (Malaysia)
/ Kewal Ramani, V (Pakistan) / Kgomo, L K (Botswana) / Khadija Shoukat
(Kuwait) / Khali, L (Lesotho) / Khalid, S (Saudi Arabia) / Khalid, Z (Pakistan)
 STUDENT ACCOUNTANT 05/2009
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All you need to know to obtain the practical experience requirement
www.accaglobal.com/cat_per

/ Khalifeh, N (Austria) / Khalil Ahmad (Pakistan) / Khamisa, B B (Malawi) /

Khan, H F (Pakistan) / Khan, K A (UK) / Khan, M H (Bangladesh) / Khan, S A GET YOUR PRACTICAL
(Bangladesh) / Khanal, R (Nepal) / Khanyapa, B D (Lesotho) / Khanyile, W C
(Swaziland) / Khawaja Ahmad Hassan (UK) / Khawaja Hassan Umer (Pakistan) EXPERIENCE REQUIREMENT
/ Khawaja Mohammad Asif (Pakistan) / Khawar Abbas (Pakistan) / Khazina
Batool (Pakistan) / Kheleli, L (Lesotho) / Khesa, L (Lesotho) / Khin Endria Wint Practical training can be completed in
Zaw (Singapore) / Khin Wai Nwe (Myanmar) / Khin Zar Naing (Singapore) /
Kho Aii Mei, A (Malaysia) / Kho Bee Peng (Malaysia) / Kho Siew Kian (Malaysia) any size or type of business, and in any
/ Kho Tong Yuan, A (Malaysia) / Khondowe, B (Zambia) / Khong Yi Kuan, E
(Malaysia) / Khoo Guan Ling (Malaysia) / Khoo May Khee (Malaysia) / Khoo Mei combination of sectors, before, during
Yi, A (Singapore) / Khor, A F (Singapore) / Khor, Y S (Malaysia) / Khor Bin Yun
(Malaysia) / Khor Yee Jun (Malaysia) / Khu Siew Ling (Malaysia) / Khupe, G L T or after completing the exams. The onus is
(Malawi) / Khuram Yousaf (Pakistan) / King, C R (Jamaica) / Kinteh, J (Gambia) /
Kiran Javed (Pakistan) / Kiran Najeeb (Pakistan) / Kirton, A K (Guyana) / Kishore, on you to find relevant training, but there
N (Guyana) / Kissoon, K (Trinidad and Tobago) / Kissoondari, I D (Guyana)
Kitta, N K (UK) / Klass, L W E (Guyana) / Koarlall, P (Guyana) / Koay Henn Perng are lots of resources available to assist you
(Malaysia) / Koay Shen Ni (Malaysia) / Koh, S M (Malaysia) / Koh Chunting
(Singapore) / Koh Dun Xiong (Singapore) / Koh Khai Sing, E (Malaysia) / Koh in your search for employment.
Li Ching, S (Singapore) / Koh Siew Wee (Malaysia) / Koh Yee Fun (Malaysia) /
Koirala, A (Nepal) / Kok, J S (Malaysia) / Kong Hung Ngo (Malaysia) / Kong Li
Len (Malaysia) / Kong Pei Ching (Malaysia) / Kong Ping (Singapore) / Kong Poh
See, E (Malaysia) / Kong Wai Chan, J (Malaysia) / Koo Mun Hoe (Malaysia) /
Koosaletse, K A (Botswana) / Kooshna, N (Mauritius) / Kordikova, V (Slovakia)
Previous qualifications may entitle
/ Koroma, H (Sierra Leone) / Koroma, M (Sierra Leone) / Kow, L F (Malaysia)
/ Krishnanmuthy, K (Malaysia) / Kuah Jiet Wei (Singapore) / Kuan Mei Ying
you to claim exemption from the practical
(Malaysia) / Kubra Ali Qizilbash (Pakistan) / Kuek Li San (Malaysia) / Kuit Chin
Han (Malaysia) / Kulsum Mehmood Ayaj Patel (Zambia) / Kumadzi Manyungwa,
experience requirement, for example,
S G (Malawi) / Kumar, E S (Malaysia) / Kumar, N (Bahrain) / Kumbemba, C
(Malawi) / Kumwembe, J (Malawi) / Kumwenda, C K (Zambia) / Kumwenda, N
completion of an NVQ level 4
(Zambia) / Kungbana, A (UK) / Kushan, N (Ireland) / Kwitanda, M (Malawi) /
Kyalimpa, R (Uganda) / Kyaw Myat Thu (Singapore) / Kyriakou, P (Cyprus) / Kyu
in Accounting.
Kyu Win (Singapore)

L
La Foucade-Richards, D (Trinidad and Tobago) / Ladhani, S K (UK) / Laeeq Ilyas
(Pakistan) / Lahdenpera, J I J (Sweden) / Lai, K Z (Malaysia) / Lai Jiew Hiong
(Malaysia) / Lai Kiew Moi (Singapore) / Lai Minyong, C (Singapore) / Lai Yi
Wynn (Myanmar) / Laila Sharif (Pakistan) / Lakhindar, R (Trinidad and Tobago)
/ Lalchan, L D (Trinidad and Tobago) / Lalla, J (Trinidad and Tobago) / Lam Yan
(Malaysia) / Lan Wangqian (Singapore) / Lan Xi, N (Singapore) / Lan Yu Guang
(Singapore) / Lanigan, S (Ireland) / Lartey, A (Ghana) / Lau, M D Y (Malaysia) /
Lau, M M (Malaysia) / Lau Lay Choo (Singapore) / Lau Min Min (Malaysia) / Lau
Ngie Ling (Malaysia) / Lau Siew Hieh (Malaysia) / Law Chian Woon (Malaysia)
/ Law Lu Pin (Malaysia) / Law Yeek Nga (Malaysia) / Lawal, A (UK) / Le Huyen
Nhung (Vietnam) / Leang Rotha (Cambodia) / Lebaka, R T (South Africa) /
Lebesa, M L (Lesotho) / Lee, C H (Malaysia) / Lee, Y (Jamaica) / Lee Aw Ewe, T
(Malaysia) / Lee Chin Yoong (Singapore) / Lee Choon Hui, J (Singapore) / Lee
Chuan Han (Malaysia) / Lee Ee Kim (Malaysia) / Lee Hong Shin (Malaysia) / Lee
Houi Ling (Malaysia) / Lee Huan Xian (Malaysia) / Lee Hye Rim (Singapore) / Lee
Kah Geok (Singapore) / Lee Lay Chin (Malaysia) / Lee Li Mein (Malaysia) / Lee
Lin Lin (Malaysia) / Lee Meng Da (Malaysia) / Lee Oi Yan (South Africa) / Lee
Peijun (Singapore) / Lee Saw Hoon (Malaysia) / Lee Shu Hsien (Malaysia) / Lee
Sien Mei, W (Malaysia) / Lee Sok Fian (Malaysia) / Lee Soo Ween (Malaysia) /
Lee Tun Ling (Singapore) / Lee Wan Yoong (Malaysia) / Lee Wei Hao (Malaysia)
/ Lee Wen Jing (Malaysia) / Lee Yee Seang (Malaysia) / Lee Yi Rong (Singapore)
/ Lee Ying Qiu, L (Singapore) / Lefera, M (Lesotho) / Lekhela, M (Lesotho) /
Lekhelebane, T G (Lesotho) / Lelimo, M G (Lesotho) / Leong Meng Teik (Malaysia)
70 CAT PASSED FINALISTS
/ Leong Siew Fong (Singapore) / Leong Siew Pin (Singapore) / Leong Yeu Song
(Malaysia) / Leong Yuen Ling (Malaysia) / Lerotholi, M E (Lesotho) / Lerotholi, M
R (Lesotho) / Lesapo, K G (Lesotho) / Letho, R (Lesotho) / Letlala, H (Lesotho) /
Letlala, K C (Lesotho) / Letokoto, M A (Lesotho) / Letsota, M (Lesotho) / Lewis,
K (Trinidad and Tobago) / Li Bee Yin, E (Malaysia) / Li Meifang (Malaysia) / Li
Xin (Singapore) / Li Yu (Singapore) / Lian Weiliang, J (Singapore) / Liang Ao Ran
(Singapore) / Liang Shuang (China) / Libe, T R (Lesotho) / Lienda, M (Zambia)
/ Liew, A L (Malaysia) / Liew Ching Koon (Singapore) / Liew Jin En (Malaysia) /
Liew Kai Cheng, K (Malaysia) / Liew Liyen (Singapore) / Liew Sing Ling (Malaysia)
/ Liew Syin Looi (Malaysia) / Lijo, M A (Lesotho) / Likambi, E M (Cameroon)
Lim, A (Malaysia) / Lim, A H J (Malaysia) / Lim, H Y (Malaysia) / Lim, J S J
(Malaysia) / Lim, S M (Malaysia) / Lim, S Y (Malaysia) / Lim, W H (Malaysia) /
Lim, W L (Singapore) / Lim, Y C (Malaysia) / Lim Chin Yew (Malaysia) / Lim Eu
Gene (Malaysia) / Lim Gek Eng (Singapore) / Lim Hui Li (Malaysia) / Lim Hwee
Mei (Malaysia) / Lim Kah Chen (Malaysia) / Lim Kai Ling (Malaysia) / Lim Kheng
Guan (Malaysia) / Lim Kian Ling, Y (Singapore) / Lim Lay Peng, D (Singapore) /
Lim Lay See, J (Singapore) / Lim Li Li (Malaysia) / Lim Mei Fung (Malaysia)
Lim Pei Sze, P (Malaysia) / Lim Siew Ling (Singapore) / Lim Siew Wun (Malaysia)
/ Lim Ting Ting, J (Singapore) / Lim Tse Zher (Malaysia) / Lim Vei Leng Felicia
(Malaysia) / Lim Wan Moong (Malaysia) / Lim Wan Siew (Malaysia) / Lim Yee Ling
(Malaysia) / Lim Yee Ting, W (Malaysia) / Limbu, S (UK) / Limpiyarak, P (UK)
/ Lin, H H (Malaysia) / Lin Jianhong (Singapore) / Lin Jianxiong, M (Singapore)
/ Lin Yu Zhe (China) / Lin Zhang Mian (Singapore) / Ling Ern Ai, A (Malaysia) /
Ling Sieh Joo, S (Malaysia) / Ling Yee Hui, I (Malaysia) / Liow Mei Lin (Malaysia)
/ Lipholo, M R (Lesotho) / Liu Ying Siew (Malaysia) / Liu Dan (Singapore) / Liu
Jie (Singapore) / Liu Min Ru (UK) / Liu Ran (Singapore) / Liu Yanwei (China) /
Liyana Mohd Abdah (Malaysia) / Lo Yen Leng (Singapore) / Lochan, R (Guyana) /
Loh, B C (Malaysia) / Loh, W P (Malaysia) / Loh Chin Li, C (Malaysia) / Loh Gay
Leong, S (Singapore) / Loh Huei Lin (Malaysia) / Loh Ing Ping (Malaysia) / Loh
Thai Hui, R (Malaysia) / Lok, Y H (Malaysia) / Lok Say Li (Malaysia) / Loke, J Y
(Malaysia) / / Loke Cek Soon (Malaysia) / Loke Wai Fong, M (Singapore) / Long
Seh Way (Malaysia) / Loo Jia Voon (Malaysia) / Loo Mei Yee (Malaysia) / Looi,
M H (Malaysia) / Loong, Y S (Malaysia) / Lora, J (Malawi) / Lorenz, V (Ireland) /
Louca, K (Cyprus) / Low, K K (Malaysia) / Low Joo Hong, C (Singapore) / Low Shu
Siang (Malaysia) / Low Su Fong (Singapore) / Low Yan Qing (Singapore) / Low
Yean Ting (Malaysia) / Low Zoa Bian (Malaysia) / Lu Jue (Singapore) / Lu Yue
(China) / Lua Wan Ling (Malaysia) / Luchembe, A (Zambia) / Luitel, P (Nepal) /
Lukhere, M G (Malawi) / Lum Kar Hoe (Malaysia) / Lum Pui Mun (Malaysia)
Lum York, V M (Trinidad and Tobago) / Lungu, C (Zambia) / Lungu, N T (Malawi)
/ Luo Si Tian (China) / Luo Yu Han, O (Singapore) / Lutele, K (Zambia) /
Lyall, E (UK)
M / Md Mainul Hasan (Bangladesh) / Md Maniruzzaman (Bangladesh) / Md
M Ali Hassan Mustafa (Pakistan) / M Ameem Ul Ehsan (Malaysia) / M D Jamal
Ahmed Khan (Bangladesh) / M Farhan Javed Rana (Pakistan) / M Hammad
Saleem (Pakistan) / M Haris Ali Khan (Pakistan) / M Haroon Khalil (Pakistan) /
M Harun Ur Rashid (Malaysia) / M Jawad Ahsan (Pakistan) / M Khairi Ridwan
Ideris (Malaysia) / M Usman (Pakistan) / M Usman Arshad (Pakistan) / M Zaafir
Hayat (Pakistan) / M. S. Premkumar (Malaysia) / M. Umair Ansar Warraich
(Pakistan) / M.Usman Ahmed Rana (Pakistan) / Ma Qian (Malaysia) / Mabandla,
T N (Lesotho) / Mabope, S J (Lesotho) / Mabuza, S C (Swaziland) / MacAuley, R
E (Sierra Leone) / Macheoane, L V (Lesotho) / Machinjiri, R A (Malawi) / Madeeha
Jillani (Pakistan) / Madeeha Zafar (Pakistan) / Madiha Jabeen Chohan (Pakistan)
/ Madiha Saif (Pakistan) / Madiha Sarwar (Pakistan) / Mae Myat Moe (Myanmar)
/ Maenje, J J (Malawi) / Mafika, S T (Lesotho) / Mafisa, N (Lesotho) / Mah Han
King (Malaysia) / Mah Rukh (Pakistan) / Mahabir, S (Guyana) / Mahadeo, I
(Guyana) / Mahalakshmi, S (Malaysia) / Mahalingam, P (Malaysia) / Mahamba, F
(Malawi) / Mahamud Rashed Jahan (Bangladesh) / Maharaj Ali, B (Trinidad and
Tobago) / Mahase, M L (Trinidad and Tobago) / Mahboob Nawaz Malik (Pakistan)
Maheen Iftikhar (Pakistan) / Mahfuzur Rahman (Bangladesh) / Maida Anwar
(Pakistan) / Maimona Sohail (Pakistan) / Mainala, J C W (Malawi) / Majasi, M
(Botswana) / Majaye, D B (Botswana) / Majid Junaid (United Arab Emirates) /
Majid Khan (Pakistan) / Majid Wali (Pakistan) / Mak Ka Kui (Hong Kong SAR)
/ Mak Kwai Leng (Malaysia) / Makawa, A L (Malawi) / Makayi, E S (Zambia)
/ Makaza, R (Zimbabwe) / Makhosi, N F (Lesotho) / Makoa, L C (Lesotho) /
Malehlohonolo, N (Lesotho) / Malik, A (UK) / Malik Abdul Rahman (Pakistan) /
Malik Adnan Bakher (Pakistan) / Malik Muhammad U Rehan (Pakistan) / Malise,
A S (Lesotho) / Malizani, G T (Malawi) / Malokotsa, M V (Lesotho) / Malothoane,
M (Lesotho) / Manase, K E (Zambia) / Manda, C (Malawi) / Mangaroo, K A
(Trinidad and Tobago) / Manjoro, S C (Botswana) / Manka, H (Gambia) / Mannan
Shafiq (Pakistan) / Mansaray, M (Sierra Leone) / Mansour, A (Liberia) / Manyima
(Botswana) / Mapena, M (Lesotho) / Mapetja, J M (Lesotho) / Maphokoane,
M (Lesotho) / Mapila, M L (Malawi) / Mapulanga, M (Zambia) / Mapuru, L P
(Lesotho) / Maqholo, T F (Lesotho) / Maragh Deer, S A (Jamaica) / Mardochee T
Fonang (Cameroon) / Maria Asif (Pakistan) / Maria Khalid (Pakistan) / Marium
Iqbal (Pakistan) / Marium Munir (Pakistan) / Mariya Hossain (Bangladesh) /
Mark, R (Trinidad and Tobago) / Marquez, F C (UK) / Marrega, B (Malawi) /
Marriam Shafiq (Pakistan) / Marryam Tahira Shah (Pakistan) / Marsh, E (UK)
Marshall, R (UK) / Marsyidah Bt Mizan (Malaysia) / Martineau, Q (Trinidad
and Tobago) / Marusha Tioguem, C (Cameroon) / Maryam Saeed (Pakistan) /
Masangano, T (Malawi) / Maseko, M B B (Malawi) / Maseru, A N (Lesotho) /
Mashakada, G N (Botswana) / Masia, L (Lesotho) / Masibo Ndongoli, S (Kenya)
/ Massiah, S R (Trinidad and Tobago) / Masuad Akbar (Pakistan) / Masuka,
N (Zambia) / Matahir Hassan (Pakistan) / Mataka, R (Zambia) / Matamane,
A T (Lesotho) / Matasi, L A (Zambia) / Matsoha, K E (Lesotho)Mattadin, M D
(Guyana) / Matthews, C (Trinidad and Tobago) / Mauluka, M (Malawi) / Maung,
W Y (Singapore) / Maung Thet Paing Phyo (Singapore) / Maung Win Ko Ko
(Singapore) / Mavimbela, S S (Swaziland) / Maxwell, P (Trinidad and Tobago)
/May Nway Aung (Myanmar) / May The Oo (Myanmar) / Mayley, J (UK) /
Mayondi, K (Zambia) / Mazhar Abbas (Pakistan) / Mazhar Azeem Panhwar (UK)
/ Mazhindu, P (Zimbabwe) / Mbeba, L S (Zambia) / Mc Grath, A M (Ireland) / Mc
Weeney, A (Ireland) / McComie, A (Trinidad and Tobago) / Mccormack, E (Ireland)
/ Mcculloch, T (UK) / Mcintyre, S (Jamaica) / Mckay, A M (Jamaica) / McKen,
J A J (Jamaica) / Mckie, D A (UK) / McLean, A (Jamaica) / Mcleod, G (Trinidad
and Tobago) / Mcnamara, Y (Ireland) / Md Abu Saleh Sikder (Bangladesh) /
Md Aminul, I (Bangladesh) / Md Amir Muqri Mohdamini (Malaysia) / Md Ansaf
Hussain Rahim (Bangladesh) / Md Arif Mahmud (Bangladesh) / Md Asyraf
Bin Mohd Noor (Malaysia) / Md Habibullah (Bangladesh) / Md Imran Khan
(Bangladesh) / Md Islamul Haque (Bangladesh) / Md Kamrulhasan (Bangladesh)
Marzanur Rahman (Bangladesh) / Md Mostansir Billah (Bangladesh) / Md Nur Al
Hakim Zainuddin (Malaysia) / Md Rajiur Rahman (Bangladesh) / Md Rakibul Aziz
(Bangladesh) / Md Rakibul Haque (Bangladesh) / Md Saiful Islam (Bangladesh)
/ Md Sazu Ahmmed (Bangladesh) / Md Shakil Ahmed (Bangladesh) / Md Sharif
Uddin Rana (Bangladesh) / Md Tanjil Islam (Bangladesh) / Md Yassin, N A
(Malaysia) / Md Yousuf Uddin (Bangladesh) / Md Zahidul Haque (Bangladesh) /
Md Zahidul Islam (Bangladesh) / Md Zahidur Rahman (Bangladesh) / Medonza,
T C (Zambia) / Mega Fransiska Wijaya (Malaysia) / Megala Balasubromanain
(Malaysia) / Mehak Saleem (Pakistan) / Mehmood, Y (Pakistan) / Mehreen
Mushtaq (Pakistan) / Mehreen Noor (Pakistan) / Mei Hui, H (Malaysia) /
Meikle, G (UK) / Melikidou, M (Cyprus) / Melissa Rooplal (Trinidad and Tobago)
/ Meng Jing, S (China) / Menso, H (Zambia) / Meriyanti Bong (Singapore) /
Mery (Singapore) / Mfuni, K (Zambia) / Mian Arslan Shehzad (Pakistan) / Mian
Mouwia Khizar Hayat (Pakistan) / Mian Muhammad Usman (Pakistan) / Mian
 STUDENT ACCOUNTANT 05/2009
71
Transfer from CAT to ACCA and further boost your career prospects
www.accaglobal.com/students/study_exams/cat_transfer

ELAINE QUALTER – ACCA MEMBER

‘I’M A FINANCIAL ACCOUNTANT AT MAQUARIE
BANK IN AUSTRALIA. CAT OFFERED ME THE
OPPORTUNITY TO FIND OUT WHETHER
ACCOUNTANCY WAS FOR ME AND STILL GAIN AN
INTERNATIONALLY RECOGNISED QUALIFICATION.
IT HELPED ME DEVELOP A DISCIPLINED APPROACH
TO STUDY AND EXAMS, WHICH WAS INVALUABLE
WHEN I DECIDED TO CONTINUE TO THE
ACCA QUALIFICATION. ACCOUNTANCY
IS A VALUABLE CAREER AS IT PLAYS
AN IMPORTANT ROLE IN MANY
ORGANISATIONS. THERE IS A LOT
TO LEARN BUT BECOMING A QUALIFIED
ACCOUNTANT OPENS DOORS TO
EXCITING PROSPECTS.’

Raees Umar Raza (Pakistan) / Mignott, O G (Jamaica) / Mikhaylova, Y (Ireland)

/ Milambo, M (Zambia) / Milashini A/P Muthiah (Malaysia) / Miles, C (Jamaica)
/ Miliana, C (Malaysia) / Milimo, C (Zambia) / Mills, G (UK) / Milton, L (UK) /
Mindozo, L L (Malawi) / Ming Chu Ken (Malaysia) / Minovska, A T (UK) / Miradevi
Subramaniam (Malaysia) / Mirwais Arif (Afghanistan) / Mirza Areeb Anwar
(Pakistan) / Mirza Awais Baig Barlas (Pakistan) / Misbah Nissah (Singapore)
/ Mitchell, J A (Jamaica) / Mkandawire, W (Malawi) / Mkandawire, W (Malawi)
/ Mkhontfo, X D (Swaziland) / Mkoko, S N (Malawi) / Mkweza, G L (Malawi) /
Mlambe, D (Malawi) / Mndala, F N (Malawi) / Mnkhuntha, M I (Malawi) / Mo,
E M (Myanmar) / Moazzam Sultan (Pakistan) / Moea, N C (Lesotho) / Moeed
Awais (Pakistan) / Mofolo, P L (Lesotho) / Mogha, C U (Malawi) / Mohamad Ali
Farhan Ramli (Malaysia) / Mohamad Shahrul Md Nawawi (Malaysia) / Mohamed
Khalfan A Harthy (Oman) / Mohamed Riza Huzni (Australia) / Mohamed Rizal
Hyder Ali (Malaysia) / Mohammad Arif (Pakistan) / Mohammad Awais Raza
(Saudi Arabia) / Mohammad Iqbal (Afghanistan) / Mohammad Iqbal (Pakistan) /
Mohammad Karim Bakhtawar Shah (United Arab Emirates) / Mohammad Nabeel
(Afghanistan) / Mohammad Naiem (Afghanistan) / Mohammad Shazeb Mateen
(Pakistan) / Mohammad Shazib Malik (Pakistan) / Mohammad Sulman Akram
(Pakistan) / Mohammad Umar Shoukat (Pakistan) / Mohammad Usama Awais
(Pakistan) / Mohammad Usman Akram (Pakistan) / Mohammad Zain Azhar
(Pakistan) / Mohammad Zohaib Ali (Pakistan) / Mohammed, A (Trinidad and
Tobago) / Mohammed, C E (Trinidad and Tobago) / Mohammed, E E (Trinidad
72 CAT PASSED FINALISTS
THE RIGHT EXPERIENCE?
The Technician Training Record (TTR)
explains the practical experience
requirements and how to document your
work experience. It also contains a full
list of the Certified Accounting Technician
units of competence.
and Tobago) / Mohammed, K Z (Trinidad and Tobago) / Mohammed, R (Trinidad
and Tobago) / Mohammed Asif A Mollah (UK) / Mohammed Furqan (Pakistan)
Mohammed Mizanur Rahman (Bangladesh) / Mohammed Noor Alam (Saudi
Arabia) / Mohan, N (Guyana) / Mohan, R (Trinidad and Tobago) / Mohapi, L S
(Lesotho) / Mohapi, M (Lesotho) / Mohd Aizat Abu Bakar (Malaysia) / Mohd
Amin Norman Afandy (Malaysia) / Mohd Asyraf Shamsudin (Malaysia) / Mohd
Fahmi Mohd Salleh (Malaysia) / Mohd Faiz Bin Wan Zaid (Malaysia) / Mohd H
Kamaruddin, H (Malaysia) / Mohd Hafsham Masod (Malaysia) / Mohd Hussin,
N (Malaysia) / Mohd Izzat Mohd Fuzi (Malaysia) / Mohd Kamarul Azhar M Azmi
(Malaysia) / Mohd Khairul Azri Bahrom (Malaysia) / Mohd Shahimi Sabikes
(Malaysia) / Mohono Rabeleng, J (Lesotho) / Mohsena Khanom (Bangladesh) /
Mohsin, H (Pakistan) / Mohsin Amin Bhutto (Pakistan) / Mohsin Gilani (Pakistan)
/ Mohsin Iqbal (Malaysia) / Mohsin Saeed (Pakistan) / Mohsin Shabir Karmali
(Tanzania) / Mohsin Shoaib (Pakistan) / Moiz Ali (Pakistan) / Mojaki, L (Lesotho)
Mokake, M C (Lesotho) / Mokhameleli, R (Lesotho) / Mokoena, L L (Lesotho)
/ Mokoma, L A (Lesotho) / Mokwaleng, J (Botswana) / Molapo, L (Lesotho) /
Molapo, M (Lesotho) / Moleli, M C (Lesotho) / Molise, L L (Lesotho) / Moloi, M
(Lesotho) / Momena Amir (Pakistan) / Moonesamy, K (Mauritius) / Moosan, L
(Trinidad and Tobago) / Mootisa, L C (Lesotho) / Morin, C (UK) / Morolong, T
(Botswana) / Morris, C M (Barbados) / Mosae, L (Lesotho) / Moses, L (Guyana)
Mosolo, M C (Lesotho) / Motopi, M (Lesotho) / Mou, T W (Lesotho) / Moyo, M G
(Lesotho) / Mpasanjesi, M (Malawi) / Mpeqa, M C (Lesotho) / Mpesi, M J (Lesotho)
/ Mphanya, P E (Lesotho) / Mphelo, M J (South Africa) / Mphoka, M A (Lesotho)
/ Msukwa, C K K (Malawi) / Mtonga, E J (Zambia) / Muaaz (Pakistan) / Mubarak
Shah, O P (Pakistan) / Mubashar Ul Islam (Pakistan) / Mubasher Noor (Pakistan)
/ Mubeen, Z (Pakistan) / Mudassar Abbas (Pakistan) / Mudassar Baig (Pakistan) /
Mudassar Imdad (Pakistan) / Mudassir Ayub Khan (Pakistan)
Mudassir Hussain (Pakistan) / Mufaya, S (Zambia) / Mughogho, T (Malawi)
Muhamad Noazfar M. Najib (Malaysia) / Muhammad (Pakistan) / Muhammad, T
(Pakistan) / Muhammad Elyas (Pakistan) / Muhammad A R Khan Niazi (Pakistan)
/ Muhammad Aamir (Pakistan) / Muhammad Aasil Malik (Pakistan) / Muhammad
Abdullah Bhutta (Pakistan) / Muhammad Abrar (Pakistan) / Muhammad
Abubaker Sial (Pakistan) / Muhammad Adeel (Pakistan) / Muhammad Adeel
Shaukat (Pakistan) / Muhammad Adnan (Pakistan) / Muhammad Afif Sabri
(Malaysia) / Muhammad Afzal Uddin (Pakistan) / Muhammad Ahmad (Pakistan)
/ Muhammad Ahmad Siddiqui (Pakistan) / Muhammad Ahmed Saleem (Pakistan)
/ Muhammad Ahsan Qureshi (Pakistan) / Muhammad Ahsan Waqar (Pakistan)
/ Muhammad Aimash (Pakistan) / Muhammad Ali (Pakistan) / Muhammad Ali
Hussain (Pakistan) / Muhammad Ali Nadeem (Pakistan) / Muhammad Ali Naqvi
(Pakistan) / Muhammad Anique (Pakistan) / Muhammad Ansar Javed (Pakistan)
/ Muhammad Arifuddin (Malaysia) / Muhammad Arqum Goraya (Pakistan) /
Muhammad Arsalan Shahid (Pakistan) / Muhammad Arslan Munir (Pakistan)
/ Muhammad Arslan Rafiq (Pakistan) / Muhammad Asad Qayyum (Pakistan)
/ Muhammad Asam Munsha (Pakistan) / Muhammad Asif Asghar (Pakistan)
/ Muhammad Asim Qadir (Pakistan) / Muhammad Asim Yousuf (Pakistan) /
Muhammad Asrar (Pakistan) / Muhammad Awais (Pakistan) / Muhammad Awais
Hanif (Pakistan) / Muhammad Ayaz (Pakistan) / Muhammad Azam (Pakistan) /
Muhammad Azam (Pakistan) / Muhammad Azam Buriro (Pakistan) / Muhammad
Azam Jamil (Pakistan) / Muhammad Azam Khan (Pakistan) / Muhammad Azeem
Shahid (Pakistan) / Muhammad Azeem Zahid (Pakistan) / Muhammad Azffar
(Malaysia) / Muhammad Behzad Khan (Pakistan) / Muhammad Bilal (Pakistan) /
Muhammad Bilal (Pakistan) / Muhammad Bilal Arshad (Pakistan) / Muhammad
Bilal Asghar (Pakistan) / Muhammad Bilal Paracha (Pakistan) / Muhammad Bilal
Raza (Pakistan) / Muhammad Bilal Zia (Pakistan) / Muhammad Daniyal Khalid
(Pakistan) / Muhammad Fadhil Mohd Nor (Malaysia) / Muhammad Fahad Arif
(Pakistan) / Muhammad Faiz (Pakistan) / Muhammad Faizan Khanani (Pakistan)
/ Muhammad Faizan Mughal (Pakistan) / Muhammad Hafeez Altaf (Pakistan) /
 STUDENT ACCOUNTANT 05/2009
Discover a world of endless possibilities
Muhammad Hafiz Hamim (Malaysia) / Muhammad Haider A Nihung (Pakistan)
/ Muhammad Hamza (Pakistan) / Muhammad Hamza Azhar (Pakistan) /
Muhammad Hamza Parvaiz (Pakistan) / Muhammad Hamza Shah (Pakistan) /
Muhammad Hani (Pakistan) / Muhammad Haroon (Pakistan) / Muhammad Haroon
Khan (Pakistan) / Muhammad Hasan Mujahid (Pakistan) / Muhammad Hassam
Gondal (Malaysia) / Muhammad Hassan Ijaz (Pakistan) / Muhammad Hassan Tariq
(Pakistan) / Muhammad Hatif Sajjad dar (Pakistan) / Muhammad Husnain Hashmi
(Pakistan) / Muhammad Imran (Pakistan) / Muhammad Imran Ashraf (Pakistan)
/ Muhammad Irfan (Kuwait) / Muhammad Irfan (Pakistan) / Muhammad Jawad
Athar (Pakistan) / Muhammad Junaid Jamshaid (Pakistan) / Muhammad Khawar
(Pakistan) / Muhammad Khizar Mushtaq (Pakistan) / Muhammad Mahbubur
Rahman (Bangladesh) / Muhammad Mahdi Khan (Pakistan) / Muhammad
Mansoor Ansar (Pakistan) / Muhammad Maroof (Pakistan) / Muhammad Mathar
Kamal (UK) / Muhammad Moaiz Ashfaq (Pakistan) / Muhammad Moazam Iqbal
(Pakistan) / Muhammad Mohsin (Pakistan) / Muhammad Mohsin Javaid (Pakistan)
/ Muhammad Mohsin Raza (Pakistan) / Muhammad Moiz (Pakistan) / Muhammad
Moiz Mahmood (Pakistan) / Muhammad Mubeen Masood (Pakistan) / Muhammad
Mudassar (Pakistan) / Muhammad Muneeb Humayun (Pakistan) / Muhammad
Munir Afsar (Pakistan) / Muhammad Murtaza Haider (Pakistan) / Muhammad
Muslim (Pakistan) / Muhammad N Arshad (Pakistan) / Muhammad N Aslam Naroo
(Pakistan) / Muhammad Nadeem Akhter (Pakistan) / Muhammad Naeem Nawaz
(Pakistan) / Muhammad Najam Nawaz (Pakistan) / Muhammad Naseem (Pakistan)
/ Muhammad Nasir Khan (Pakistan) / Muhammad Naveed Zafar (Pakistan) /
Muhammad Omair (Pakistan) / Muhammad Omer (Pakistan) / Muhammad
Omer (UK) / Muhammad Osman Naseem (Pakistan) / Muhammad Qamar Abbas
(Pakistan) / Muhammad Qasim Bashir (Pakistan) / Muhammad Rameez Khan
(Pakistan) / Muhammad Rehan Qamer (Pakistan) / Muhammad Rehan Tahir
(Pakistan) / Muhammad Rehan Yousaf (Pakistan) / Muhammad Ruman (Pakistan)
/ Muhammad S Mohd Nasir (Malaysia) / Muhammad S Sohail Khan (Pakistan)
/ Muhammad S Z B A Bakar (Malaysia) / Muhammad Saddam Uddin (Pakistan)
/ Muhammad Sajid (Pakistan) / Muhammad Sajid (Pakistan) / Muhammad
Sajjad (Pakistan) / Muhammad Salman Tanveer (Pakistan) / Muhammad Salman
Younis (Pakistan) / Muhammad Saqib (Pakistan) / Muhammad Saqib Bootter
(Pakistan) / Muhammad Sarim Masood (Pakistan) / Muhammad Shahbaz Hussain
(Pakistan) / Muhammad Shiraz Khalid (Pakistan) / Muhammad Shoaib (Pakistan)
/ Muhammad Sohaib (Pakistan) / Muhammad Sohail (Pakistan) / Muhammad
Suleman Haider (Pakistan) / Muhammad Sumair Shafique (Pakistan) / Muhammad
Syahrul Izzuan (Malaysia) / Muhammad Tayyab (Pakistan) / Muhammad Tayyeb
(Pakistan) / Muhammad Touseef (Pakistan) / Muhammad Umair Chaudhary
(Pakistan) / Muhammad Umar Fahim (Pakistan) / Muhammad Umer (Pakistan)
/ Muhammad Umer Akram (Pakistan) / Muhammad Umer Khayam (Pakistan)
/ Muhammad Usman (Pakistan) / Muhammad Usman (Pakistan) / Muhammad
Usman (Pakistan) / Muhammad Usman (Pakistan) / Muhammad Usman Aasim
(Pakistan) / Muhammad Usman Amin (Pakistan) / Muhammad Usman Dar
(Pakistan) / Muhammad Usman Nawazish (Pakistan) / Muhammad Usman Tariq
(Pakistan) / Muhammad Usman Zafar (Pakistan) / Muhammad Uzair Abbas
(Pakistan) / Muhammad Uzair Khan (Pakistan) / Muhammad Waleed (Pakistan)
/ Muhammad Waleed (Pakistan) / Muhammad Waqar Farooq (Pakistan) /
Muhammad Waqar Khalil (Pakistan) / Muhammad Waqas Akhter (Pakistan) /
Muhammad Waqas Asghar (Pakistan) / Muhammad Waqas Bashir (Pakistan) /
Muhammad Waqas Farooq (Pakistan) / Muhammad Waqas Ikhlas (Pakistan) /
Muhammad Wasim Akram (Pakistan) / Muhammad Yameen Khan (Pakistan) /
Muhammad Yaquob (Pakistan) / Muhammad Yasir Ehsan (Pakistan) / Muhammad
Zabed Hossain (Bangladesh) / Muhammad Zaid (Pakistan) / Muhammad
Zain (Pakistan) / Muhammad Zain (Pakistan) / Muhammad Zakwan Rahman
(Malaysia) / Muhammad Zeeshan Ali (Pakistan) / Muhammad Zeshan Razzaq
(Pakistan) / Muhammad Zubair Afzal (Pakistan) / Muhammad Zubair Bajwa
73
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(Pakistan) / Muhammad Zubair Fareed (Pakistan) / Muhammad Zubair Sabir
(Pakistan) / Muhammd Usman Baig (Pakistan) / Muhd Hariz Mohd Ghazalli
(Malaysia) / Muhobuth, N (Mauritius) / Muizz-Ur-Rehman (Pakistan) / Mujtaba
Alam (Afghanistan) / Mukesh Kumar (Pakistan) / Mukoka, P (Malawi) / Mukosa,
M (Zambia) / Mukuma, L (Zambia) / Mukwai, E M (Zambia) / Mulenga, B K
(Zambia) / Mulenga, C (Zambia) / Mulenga, E (Zambia) / Mulenga, M (Zambia)
/ Mulenga, N J (Zambia) / Mulenga, S M (Zambia) / Mulenga, W C (Zambia) /
Mulola, R (Zambia) / Mulungushi, C (Zambia) / Muluwe, M A (Zambia) / Mumba,
B B (Zambia) / Mumba, D B (Zambia) / Mumpa, K H (Zambia) / Mumtaz, M
H (Pakistan) / Mumthaz Abdul Rasheed (Maldives) / Mungala, C (Zambia) /
Mungala, M (Zambia) / Mungandi, C K (Libya) / Munim Bari (Pakistan) / Munyika,
M (Zambia) / Murombo, S (Ireland) / Murphy, B (Ireland) / Murphy, R M (Ireland)
/ Murray, C M (UK) / Murtaza Ali Mir (Pakistan) / Murugayah, Y (Malaysia) /
Musa, M (Zambia) / Musa, S A (Sierra Leone) / Musanya, M (Zambia) / Musariri,
S (Zambia) / Muslim Habib (Pakistan) / Muslim Mukhtar (Pakistan) / Musonda,
J (Zambia) / Musonda, M P S (Zambia) / Mussarat Nazir (Pakistan) / Mutale, M
(Zambia) / Mutambo, N M (Zambia) / Mutila, S (Zambia) / Mutiti, F M (Zambia)
/ Mutter, D L (UK) / Muwamba, K (Malawi) / Muyakwa, S (Zambia) / Muzzamil
Khalid (Pakistan) / Mwaba, A M (Zambia) / Mwaba, M M (Zambia) / Mwafulilwa,
L (Zambia) / Mwakilama, L (Malawi) / Mwale, D A (Zambia) / Mwananyau, E
(Zambia) / Mwanyongo, E (Malawi) / Mwanza, C (Zambia) / Mwanza, I (Zambia) /
Mwanza, J (Zambia) / Mwanza, V E (Zambia) / Mweene, G M (Zambia) / Mwelwa,
K A (Zambia) / Mwenya, A M (Zambia) / Mwesha, R M (Zambia) / Mwiinde, L
(Zambia) / Mwila, A C (Zambia) / Mwila, G (Zambia) / Mwila, S (Zambia) / Mwiya,
D (Zambia) / Myint Zu Soe (Malaysia) / Myitzu Htun (Myanmar)
N
Nabeel Ahmad (Pakistan) / Nabeel Tariq (Pakistan) / Nabilla Bt Ab Rahman
(Malaysia) / Nadia Binti Rahmat (Malaysia) / Nadzerin Shah A. R. Zakri (Malaysia) /
Naeem Razzaq (Pakistan) / Naik, M (Zambia) / Naing Naing Htay (Myanmar) / Nair, A
(Malaysia) / Najam Ul Saqib (Pakistan) / Najihah Halim (Malaysia) / Najwa Zainuddin
(Malaysia) / Najwaa Mohammed (Malaysia) /Nakeshree, M M (Kenya) / Namane, P
J (Lesotho) / Nambiar, S (Malaysia) / Namra Mukhtar (Pakistan) / Namutebi, U M
(UK) / Namutulo, S G (Zambia) / Nanu, C M (Cameroon) / Narinesingh, R V (Trinidad
and Tobago) / Nasir Khalil (Pakistan) / Nasir Mehmood (Pakistan) / Nasrullah Khan
(Pakistan) / Nauman Ahmed Farooqi (Pakistan) / Nauman Umair (Pakistan) / Naveed
Akhter (Pakistan) / Navinea K Pillai (Malaysia) / Naw Ka Yoe Paw (Singapore) /
Nawa, M (Zambia) / Nawaz, M A (Pakistan) / Nawrin, S (Bangladesh) / Nayyab Kiran
(Pakistan) / Nazira Abd Aziz (Malaysia) / Nazmul Dewan (Bangladesh) / Nazombe,
A (Malawi) / Nchai, M A (Lesotho) / Nchang, S J (Cameroon) / Nchong, M E E
(Cameroon) / Ndana, N K (Zambia) / Ndereyimana, N (Zambia) / Ndhlazi, J (UK)
/ Ndhlovu, G (Zambia) / Neelam Nazim Ali (Pakistan) / Neelam Shaikh (Pakistan)
/ Nelima Ndongoli, S (Kenya) / Nelson, J (Grenada) / Neoh Hui Min (Malaysia) /
Neoh Zhen Huan (Malaysia) / Neupane, S (Nepal) / Ng, C H (Malaysia) / Ng, C S
(Malaysia) / Ng, L S (Malaysia) / Ng Bee Chin (Malaysia) / Ng Chai Yen (Malaysia)
/ Ng Chiew Peng (Malaysia) / Ng Chin Yin (Malaysia) / Ng Chyn Meng, J (Malaysia)
/ Ng Eu Minn, D (Malaysia) / Ng Fang Ting (Singapore) / Ng Gek San (Malaysia) /
Ng Hoeh Sew (Malaysia) / Ng Kathy (Singapore) / Ng Keng Jie (Malaysia) / Ng Lee
Ping (Singapore) / Ng Mei Xing (Malaysia) / Ng Pei Ling (Malaysia) / Ng Sheik Ee
(Malaysia) / Ng Sin Fah (Malaysia) / Ng Soo Wai (Malaysia) / Ng Tze Hui (Singapore)
/ Ng Wee Shan, E (Singapore) / Ng Yen Khim (Malaysia) / Ng Ying Jye (Malaysia) /
Ngandu, C (UK) / Ngeow Sam Wun (Malaysia) / Ngian Hui Jing (Singapore) / Ngoma,
I (Malawi) / Ngomano, C L (Malawi) / Ngu Sing Seng (Malaysia) / Ngui Ching Fern
(Malaysia) / Ng’Uni, S (Zambia) / Nguyen, T M H (UK) / Nguyen, T T (UK) / Nguyen
Binh Duong (Vietnam) / Nguyen Kim, T (Vietnam) / Nguyen Nhu Trang (Vietnam)
/ Ngwende, A T (Malawi) / Ngwenya, K (South Africa) / Ngwira, B J (Malawi) / Ni
Ghabhain, M (Ireland) / Niaz Ahmad (Pakistan) / Nicholas, C A (Trinidad and Tobago)
74 CAT PASSED FINALISTS

‘I’M A MANAGER IN INSURANCE AUDIT AT DELOITTE & TOUCHE

IN BERMUDA. I COME FROM A SCIENCE BACKGROUND SO
I CHOSE THE CAT QUALIFICATION AS IT PROVIDED A STRONG
FOUNDATION IN ACCOUNTING SKILLS AND KNOWLEDGE
AS WELL AS THE OPPORTUNITY TO PROGRESS TO THE ACCA
QUALIFICATION. BECOMING AN ACCA MEMBER HAS GIVEN
ME GLOBAL MOBILITY AND RECOGNITION – I HAVE
WORKED IN THE UK, MALAYSIA, AND NOW BERMUDA.
I WOULD RECOMMEND TAKING CAT AS A ROUTE TO
BECOMING ACCA QUALIFIED, WHICH CAN OFFER YOU
MANY OPPORTUNITIES AROUND THE WORLD.’
DARREN LEE, ACCA MEMBER

/ Nicholas, D L K (Jamaica) / Nida Daud Sharif (Pakistan) / Nida Faheem (Pakistan)

/ Nida Mustafa (Pakistan) / Nida Ozair (Pakistan) / Nida Shahid (Pakistan) / Nik
Zainalabidin Ezanee, N M A (Malaysia) / Ninson, I (UK) / Nirma Kishan Hingorani
(Pakistan) / Nitasha Karim Ali (Pakistan) / Nithiavani Sockalingam (Malaysia) /
Nixon, M J (UK) / Njawala, U M (Malawi) / Njiafu, M E (Cameroon) / Nkandu, C
(Zambia) / Nkhoma, E (Malawi) / Nkhonya, S (Malawi) / Nkuebe, M D (Lesotho)
/ Nkuebe, M S (Lesotho) / Nkumbula, M (Zambia) / Nkunika, M (Zambia) / Noor
Aisyah S Ghani (Malaysia) / Noor Amalina Ali (Malaysia) / Noorhidayah Bt Che
Alim (Malaysia) / Nor Azira Abu Bakar (Malaysia) / Nor Farrahin Sachil (Malaysia)
/ Nor Nazreena Bt Md Espri (Malaysia) / Nor Syahidah Bte Shaari (Malaysia) /
Norazli B Zaiton (Malaysia) / Norfadilah M Basar (Malaysia) / Norhayati Mokhtar
(Malaysia) / Norkusaidatun Abdulrahim (Malaysia) / Northcott, G (UK) / Nouayie,
C F (Cameroon) / Nouman Akram (Pakistan) / Nouman Sarwar (Pakistan) /
Nowreen Ahsan (Bangladesh) / Nsibandze, S (Swaziland) / Ntchafu, M M (Malawi) /
Nthabeleng Esther, M (Lesotho) / Nthejane, M (Lesotho) / Nthibane, M R (Lesotho)
/ Ntsaba, P M (Lesotho) / Ntsaoana, L E (Lesotho) / Nundwe, P M (Zambia) /
Nur Adilah Khilaluddin (Malaysia) / Nur Afeeza Abdul Nasir (Malaysia) / Nur Ain
Bt Khalip (Malaysia) / Nur Akhlily Lyana (Malaysia) / Nur Ashikin Baharuddin
(Malaysia) / Nur Aziha Mohd Salleh (Malaysia) / Nur Azimah Kamaluddin (Malaysia)
/ Nur Faeizah Miswan (Malaysia) / Nur Hanisah Kamarul Bahrin (Malaysia) / Nur
Hidayah Binti Adam (Malaysia) / Nur Hidayah Mohamad Azizan (Malaysia) / Nur
Rahman (Pakistan) / Nur Rahmatul S Rahmat (Malaysia) / Nurliza Mohamed Nor
(Malaysia) / Nurmaisarah Binti Aziz (Malaysia) / Nurul Aida Muhd Yusoff (Malaysia)
/ Nurul Ain Mohamadazman (Malaysia) / Nurul Aisyah Ahmad (Malaysia) / Nurul
Azian Abdul Aziz (Malaysia) / Nurul Hanis Yahya (Malaysia) / Nurul Izzaty Adinaan
(Malaysia) / Nurul Liyana Jamil (Malaysia) / Nusrat Jahan Munmun (Bangladesh)
/ Nusrat Rahman (Bangladesh) / Nwe Ni Myint (Myanmar) / Nyandoro, Y (Ireland)
/ Nyein Nyein Myint (Singapore) / Nyekanyeka, D (Malawi) / Nyemu, H (Zambia) /
Nyirongo, E (Zambia) / Nyirongo, M B (Malawi) / Nyirongo, T (Zambia) / Nyondo,
M K (Malawi)
 STUDENT ACCOUNTANT 05/2009
75
Find out how ACCA is helping people and businesses manage in the current climate
www.accaglobal.com/economy

O Ramakrishnan, R (Uganda) / Ramaqele, B L (Lesotho) / Ramaseli, N A (Lesotho)

O Brien, E M (Ireland) / O’Connor, E (Ireland) / Odihe, D (Sierra Leone) /
O’Farrell, T (Ireland) / Ogunyemi, O R (Nigeria) / Oh, Y P (Malaysia) / Oh Ling
Hee (Malaysia) / Ohn Cheint Cheint The (Myanmar) / Ohnmar Maw (Singapore)
/ Olaniyan, O (Nigeria) / Olotu, Y I (Sierra Leone) / Omar Faroque (Bangladesh)
/ Omer Aslam (Pakistan) / Omer Bashir (Pakistan) / Omer Hayat Khan (Saudi
Arabia) / Ong, M L (Malaysia) / Ong Ai Sze (Malaysia) / Ong Ji Anne (Malaysia)
/ Ong Siewlin (Malaysia) / Ong Sook Chen (Malaysia) / Ong Sook Yan (Malaysia)
/ Ong Suk Kuan (Malaysia) / Ong Wern Huey, E (Singapore) / Ong Xin Ting, C
(Malaysia) / Ong Yee Wei (Malaysia) / Onsewa, G (Malawi) / Onyuta Oruni, P
L (Uganda) / Ooi, W Y (Malaysia) / Ooi Guo Hao (Malaysia) / Ooi Kang Leng
(Malaysia) / Ooi Lip Hoo (Malaysia) / Ooi Tai Huai (Malaysia) / Orefuja, O A (UK)
/ Ormrod, I (UK) / Oso, F (UK) / O’Sullivan, E (Ireland) / O’Sullivan, L (Ireland) /
Otiende, F O (Kenya)
P Rekha Shahdev Kumari (Pakistan) / Renaud, K A (Trinidad and Tobago) / Revathi
Padamyar Lay (UK) / Palmer, D E (UK) / Pan, L K (Malaysia) / Pan, M (UK) /
Pandiyan, V (Malaysia) / Paneerselvam, A (Malaysia) / Panesar, I K (Uganda) /
Pang Ai Ting (Malaysia) / Pang Hui Ling (Singapore) / Panter, D (UK) / Parris, J N
(Trinidad and Tobago) / Parsan, D (Guyana) / Parsan, R N (Trinidad and Tobago)
/ Partyka, A (Ireland) / Patel, D S (Zimbabwe) / Patel, M (Zambia) / Patel, V
(UK) / Paterson, T (UK) / Patewa, A R (UK) / Patoir, M (Trinidad and Tobago)
/ Patrick, P (Trinidad and Tobago) / Paudel, S (Nepal) / Paul, S (Bangladesh)
/ Pearce, A (UK) / Peea, L A (Lesotho) / Peng Shao Jun (Singapore) / Peng
Yuming (Singapore) / Persaud, K (Guyana) / Persaud, O (Guyana) / Persaud, R
(Guyana) / Persaud, R (Guyana) / Persid, G A (Antigua and Barbuda) / Pestano,
C F (Guyana) / Peter, K P (Malaysia) / Peter, M K (Kenya) / Peter Ng Chuan Lip
(Malaysia) / Petreseniuc, L (Romania) / Pham Binh Minh (Singapore) / Pheko,
L J (Lesotho) / Phillips, N (Malawi) / Phin Li Sia (Malaysia) / Phiri, D (Zambia)
/ Phiri, P M (Zambia) / Phokojoe, M (Lesotho) / Phoon Choon Kit (Malaysia) /
Phung Minh Ngoc (Vietnam) / Phuthego, K (Botswana) / Phyll, D O (Guyana)
/ Pitikoe, L (Lesotho) / Png Quee Luan (Singapore) / Poh Hui Juan (Brunei
Darussalam) / Poh Kok Wai (Malaysia) / Poh Wei Ling (Singapore) / Pollord,
L J (Guyana) / Polvvsha Syyedd (Pakistan) / Poon, C M (Malaysia) / Poon, K
(Malaysia) / Pope, J (Trinidad and Tobago) / Poudel, K P (Nepal) / Powell, H C
(UK) / Prajapati, S (Nepal) / Prashad, N (Guyana) / Price, L A (UK) / Prima, M
(Trinidad and Tobago) / Prince Hassan Akhlaq (Pakistan) / Pullin, C (UK) / Pwint
Oo Thwe (Myanmar)
Q C M (Malawi) / Salma Riaz (Pakistan) / Salman Abid (Pakistan) / Salman Akbar
Qasim Ali (Pakistan) / Qasim Ali (Pakistan) / Qasim Ali Raza (Pakistan) / Qasim
Ashraf (Pakistan) / Qazi Hammad Masood (Pakistan) / Qhobosheane, N E
(Lesotho) / Quashie, S (Trinidad and Tobago) / Quek Chin Song (Malaysia) / Quek
Kim Wei, L (Singapore) / Quratulain Abbasi (Pakistan) / Quratulain Zafar Hussain
(Pakistan) / Qurrat Ul Ain Ali (Pakistan)
R Muhammad Ibne Saqi (Bangladesh) / Sammar Haider (Pakistan) / Sammy, S
Raajiv Sockalingam (Malaysia) / Rabele (Lesotho) / Rabia Habib Siddiqui
(Pakistan) / Rabia Niaz (Pakistan) / Rabiatul Adawiyah (Malaysia) / Radipitse,
M (Botswana) / Rae, H E (UK) / Rafael Amjad (Pakistan) / Rafaqat Hussain
(Pakistan) / Rafeek, M R (United Arab Emirates) / Rafia Nawaz (Pakistan) /
Raghabir, K (Guyana) / Raghoonath, S (Trinidad and Tobago) / Raghubar, V S
(Guyana) / Ragoonath, N (Trinidad and Tobago) / Raheel Mazhar (UK) / Rahib
Muhammad Amin (Pakistan) / Rahma Junaid Butt (Pakistan) / Rahman, M
S (Bangladesh) / Rahman, N R (Malaysia) / Rai, D (UK) / Raihanah Yahaya
(Malaysia) / Raiyan Ahmed (UK) / Raja Muhammad Bilal (Pakistan) / Raja
Ubaid Nawaz (Pakistan) / Rakuoane, N F (Lesotho) / Ralikoeche, M (Lesotho) /
/ Ramashamole, E (Lesotho) / Ramberran, V (Trinidad and Tobago) / Ramdass,
A (Trinidad and Tobago) / Ramdeen, S (Trinidad and Tobago) / Rameez Iqbal
Irain (Pakistan) / Rameez Qaiser (Pakistan) / Rametsi, M (Lesotho) / Ramiz
Nizar Ali (Pakistan) / Ramlakhan, C (Guyana) / Ramlal, S (Trinidad and Tobago)
/ Ramlee, R A (Malaysia) / Rammalane, N G (Lesotho) / Ramnarine, S (Trinidad
and Tobago / Ramnath-Ramroop, R (Trinidad and Tobago) / Ramokopu Rethabile,
J (Lesotho) / Ramothamo, P E (Lesotho) / Rampersad, A Y (Trinidad and Tobago)
/ Rampersaud, S (Guyana) / Ramsamy, K (Mauritius) / Ramsey, P K (Malawi) /
Ramsubargh, M (Trinidad and Tobago) / Ramyead, A D (Mauritius) / Rana Rashid
Mahmood (Pakistan) / Rana Usama Ijaz (Pakistan) / Rania Tahir (Pakistan) /
Raoul, K K (Cameroon) / Rapou, M M G (Lesotho) / Raseleso, R R (Lesotho) /
Rashid Ahmad (Pakistan) / Rashid Rafiq (Pakistan) / Rasi Mcintosh, S T (UK) /
Ratnawati A/P Sadasiven (Malaysia) / Rauf Iqbal (Pakistan) / Rault, J L (UK) /
Reddock, D (Guyana) / Reid-Loney, C S (Trinidad and Tobago) / Reimer, G (UK) /
Ap Tangarajoo (Malaysia) / Riaz, N (Pakistan) / Richards, A (Jamaica) / Rimsha
Qazi (Pakistan) / Rini Noviana Halim (Singapore) / Rizwan Ghafoor (Pakistan) /
Rizwan Gulzar (Pakistan) / Robby Mandoro (Singapore) / Roberts, J A (Guyana) /
Robin, F (UK) / Rodosthenous, G (Cyprus) / Rohail Omer (Pakistan) / Rohan-Ur-
Rehman (Pakistan) / Rolston, R T (Jamaica) / Ronald Soo Ki-Meng (Malaysia) /
Rony, B (Bangladesh) / Roop Bheekie, B (Trinidad and Tobago) / Rosdeen, M A
M (Malaysia) / Rose, J (UK) / Rose, K N (Jamaica) / Ru Yan Tan (Malaysia) / Rubi
Rafique (Pakistan) / Ruhaina-Fatema Tejani (Tanzania) / Rupnarain, L L (Guyana)
/ Russell, L M (Barbados) / Russell Oliver (Malaysia)
S
S M Asad Hashmi (Oman) / Saad Ahmed (Pakistan) / Saad Bakhtiar Rana
(Pakistan) / Saad Bin Khalil (Pakistan) / Saad Mansoor Ahmad (Pakistan)
Saad Nadeem (Pakistan) / Saad Naqi Khan (Pakistan) / Saad Salik (Pakistan)
Saba Abrar (Malaysia) / Saba Amna Khan (Pakistan) / Saba Arshad (Pakistan)
Saba Danish (Pakistan) / Sabih Mohsin Saleem (Pakistan) / Sabir Ullah
(Pakistan) / Sabiu, K Y (Nigeria) / Sabrina Nowshin (Bangladesh) / Sadia Rafique
(Pakistan) / Saeed Anwer (Pakistan) / Safia Binti Mohd Salim (Malaysia) / Saidul
Islam (Bangladesh) / Saifa Iqbal (Pakistan) / Saima Javed (Pakistan) / Sajia
Farah (Bangladesh) / Sajid Ali (Pakistan) / Sajid Hussain (Pakistan) / Sajida
Ismail (Tanzania) / Sakala, C (Zambia) / Sakala, E (Zambia) / Sakala, I (Zambia)
Sakwiya, D (Malawi) / Salami Habib (Ghana) / Salauroo, Z O (Mauritius) / Saleha
Suleman (Pakistan) / Salehuddin, S S (Malaysia) / Salim, S A R (Kenya) / Salima,
(Pakistan) / Salman Ali (Pakistan) / Salman Arif (Pakistan) / Salman Arshad
(Pakistan) / Salman Badshah (Pakistan) / Salman Nawaz (Pakistan) / Salman
Qamar Bhatti (Pakistan) / Salman Shabbir (Pakistan) / Salman Shahid (Pakistan)
Salman Ubaid (Pakistan) / Salsalina Saberat (Singapore) / Sama, F N (Malawi) /
Samaroo, D (Trinidad and Tobago) / Sameera Omer Farooq (Pakistan) / Sami Un
Noor (Pakistan) / Samia Masood (Pakistan) / Samia Saleem (Pakistan) / Samiul
(Trinidad and Tobago) / Sampson, M A N (St Vincent) / Sampson, S (Trinidad and
Tobago) / Samuel Ooi Sin Yee (Malaysia) / Sana Anwaar (Pakistan) / Sana Aslam
(Pakistan) / Sana Majeed Raja (Pakistan) / Sandhya Kumari (Pakistan) / Sandy, E
(Trinidad and Tobago) / Sandy, E P (Guyana) / Sania Masood (Pakistan) / Saniya
M Rafique (Pakistan) / Sankar, S N (Trinidad and Tobago) / Sankoh, A (Sierra
Leone) / Sannan Babar (Pakistan) / Sanneh, B (Gambia) / Santhini Sathaya
(Malaysia) / Saqib Hanif (Pakistan) / Sara Hameed (Pakistan) / Sara Javed
(Pakistan) / Sarah Cecil (Pakistan) / Sarah Mohd Shakharulain (Malaysia) /
Sarfraz Ahmed (Pakistan) / Sarmad Saeed (Pakistan) / Sarosh Afzal Khan
(Pakistan) / Sarosh Khan (UK) / Sarpong, P D (Ghana) / Satya Adi Nugroho
76 CAT PASSED FINALISTS
(Singapore) / Saulat, Z J (Oman) / Savage, D (UK) / Savathy, E S (Malaysia) /
Saw Kok Leong (Malaysia) / Sawerengera, E (Malawi) / Sawyerr, C R (Sierra
Leone) / Sayed Faizan Tariq (Pakistan) / Sealy, E M (Barbados) / Searles, S Z
(Trinidad and Tobago) / Sebekho, L A (Lesotho) / See Shall Nee (Malaysia) / See
Siow Fern, J (Malaysia) / See Tho Pey Shin (Malaysia) / Seecharan, A S (Guyana)
/ Seemab Shabir Alvi (Pakistan) / Seemungal, N (Trinidad and Tobago) /
Seepaul-Felmine, U (Trinidad and Tobago) / Seetloo, R (Singapore) / Sehrish
Noureen (Pakistan) / Seint Seint (Myanmar) / Seitlheko, M J (Lesotho) /
Sekgobokgobo, T V (Botswana) / Sekhonyana, M (Lesotho) / Sekhonyana, V L
(Lesotho) / Seliane, K (Lesotho) / Sello, M M (Lesotho) / Sello, T C (Lesotho) /
Seow Kek Thay (Malaysia) / Sephoko, T P (Lesotho) / Serwe, T T (Botswana) /
Sesay, J (Sierra Leone) / Sethobane, L T (Lesotho) / Seward, L M (UK) / Shabab
Nazar (Pakistan) / Shaban Manshoor, B (Kenya) / Shabaz Rahim (Pakistan) /
Shabbir Malik, T (Pakistan) / Shabuwe, M (Zambia) / Shafaq Shahid (Pakistan) /
Shaferah Bt Abd Rahman (Malaysia) / Shah, S U A (UK) / Shah Faisal (Pakistan) /
Shahadat Hossain, M (Bangladesh) / Shahan Ibrar (Pakistan) / Shahbaz Ibrahim
(Pakistan) / Shahid Abbas (Pakistan) / Shahid Iqbal (Pakistan) / Shahid Kareem
Hafiz (Pakistan) / Shahid Usman (Pakistan) / Shahida Malik (Pakistan) /
Shahrose Sohail (Pakistan) / Shahzad Ahmad (Pakistan) / Shahzadi, N (Pakistan)
/ Shahzeb Sajid (Pakistan) / Shaibu, B (Ghana) / Shakeel, A (UK) / Shakira
Kamar Azman (Malaysia) / Shamatanga, M (Zambia) / Shamim Imtiaz
(Bangladesh) / Shamol Sarker (Bangladesh) / Shamsir, M N (Malaysia) /
Shanderkundom, C (Malaysia) / Shanthini Ap Ganapathy (Malaysia) / Sharif
Mohammed A Hoque (Bangladesh) / Sharifah Nabila Syed Abu (Malaysia) /
Sharifah Shahirah Syed (Malaysia) / Sharjeel Arif (Pakistan) / Sharjeel Hameed
(Pakistan) / Sharma, K (India) / Sharma, N (Singapore) / Sharmin Israt Jahan
Sharzo (Bangladesh) / Sharvaloshenee (Malaysia) / Shashape, T A (Lesotho) /
Shaw, S C (UK) / Sheela (Malaysia) / Shehar Yar Khan (Pakistan) / Sheik
Hoossain, R M (UK) / Sheikh, R (Pakistan) / Sheikh Muhammad Munim
(Pakistan) / Sheikh Waleed Shehzad (Pakistan) / Shelile, M L (Lesotho) / Shen, Y
L (Malaysia) / Sheraz Ahmad (Pakistan) / Sheraz Ahmed (Pakistan) / Shereen
Fatima (Pakistan) / Sheryar Hassan Abid (Pakistan) / Sheza Sheikh (Pakistan) /
Shim, Y Y V (Malaysia) / Shiraz Ahmad (Pakistan) / Shireen Wong Sze Yi
(Malaysia) / Shirley, N L (UK) / Shivjatan, A M (Guyana) / Shivnauth, P (Guyana)
/ Shiw-Pursad, B K (UK) / Shoaib Ahmed (Pakistan) / Shoaib Hassan (Pakistan) /
Shoaib Maqsood Baig (Pakistan) / Shobaa A/P Ganegan (Malaysia) / Shonil
Pervez (Pakistan) / Shrestha, S (Nepal) / Shujaat Ali (Pakistan) / Shumaila Javed
(Pakistan) / Shumaila Shaheen (Pakistan) / Shune Lei Nyunt Hlaing (Myanmar) /
Shunmugam, D (Malaysia) / Shwe Sin Hlaing (Singapore) / Shwe Yi Win May
(Myanmar) / Siah Jing Ling (Malaysia) / Siame, M (Zambia) / Siame, N (Zambia)
/ Siang Shek Li (Malaysia) / Sibande, Z (Zambia) / Sibellas, C (UK) / Sichinga, K
L (Malawi) / Sichivula, K (Zambia) / Siddiq Bin Mohamad (Malaysia) / Sidra
Afrasiab (Pakistan) / Sidra Anam (Pakistan) / Sidra Mehmood (Pakistan) / Sidra
Muzaffar (Pakistan) / Sidra Raees Qureshi (Pakistan) / Sidra Tariq (Pakistan) /
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Abdi (Pakistan)
T
T Jose, S (Bahrain) / T Shaheela T A Malek (Malaysia) / Tabish Masood (Pakistan)
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/ Tan Lai Hun (Malaysia) / Tan Lake Wei (Malaysia) / Tan Lee Hong (Malaysia) /
Tan Lee Lee (Singapore) / Tan Lee Ling (Malaysia) / Tan Lee San (Malaysia) / Tan
 STUDENT ACCOUNTANT 05/2009
77
Demonstrate your English language skills
www.financialenglish.org

Lee San (Singapore) / Tan Li Lin (Malaysia) / Tan Li Xing (Malaysia) / Tan Lily
(Singapore) / Tan Loong Yuen, T (Malaysia) / Tan Meng Ying, J (Malaysia) / Tan WHEN ENGLISH REALLY COUNTS
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ICFE is a unique qualification offered
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by the University of Cambridge ESOL
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(English for Speakers of Other Languages)
(Kuwait) / Thai Rong Bin (Malaysia) / Tham, E L (Malaysia) / Tham, W H (Malaysia)
/ Tham Hui Hui (Singapore) / Tham Wei Yu, A (Singapore) / Tham Yong Yao, A
Examinations and ACCA. The next exam
(Singapore) / Thandar Pyie Hla Maung (Myanmar) / Thapa, L (UK) / Theint Shwe
Yee Han (Myanmar) / Thel Su Soe (Singapore) / Thet Phone Aung (Singapore) /
session for Cambridge ICFE will be on
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(Trinidad and Tobago) / Thomas, M (St Lucia) / Thomas, T I (Guyana) / Thomas,
U J (Grenada) / Thompson, G (Malawi) / Thompson, S K (Guyana) / Thomson, D register for the exam, contact your nearest
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(Brunei Darussalam) / Tong Yi Lan (UK) / Tooba Naheed (Pakistan) / Topikha,
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Toussaint, M D (UK) / Toza, B M (Zambia) / Tran, Q N (UK) / Trixia Lee Ting Ting
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Leone) / Twininge, A (Zambia)
support options available.
U
Ul Abidin, M Z (Pakistan) / Umaid Hussaini (Pakistan) / Umair Ahmed (Pakistan) After May, the next exam will be held on
/ Umair Ali (Pakistan) / Umair Ali (Pakistan) / Umair Bin Muzaffar (Pakistan) /
Umair Ghafoor (Pakistan) / Umair Hayat (Pakistan) / Umair Nawaz (Pakistan) 14 November 2009.
78 CAT PASSED FINALISTS
/ Umais Hassan (Pakistan) / Umar Farooq (Pakistan) / Umar Farooq (Pakistan)
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/ Uttama Pranaya (Malaysia) / Uzair Abbas Chaudhry (Pakistan) / Uzair Akhtar
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V Ali (Pakistan) / Yasir Aziz (Pakistan) / Yasir Bashir Solangi (Pakistan) / Yasir Khan
V Sankaree Venugopal (Malaysia) / Valappil Mohamed, F M (Bahrain) / Valecha,
V K (Pakistan) / Vallentine, C J (Jamaica) / Van Dam, A (Netherlands Antilles) /
Vaniteshwari Harikrishnan (Malaysia) / Vanrooy Nathnael, R (Lesotho) / Varsani,
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Vincent Ng Keng Aik (Malaysia) / Voon Chew Ying (Malaysia) / Voon Veng Yan, V
(Malaysia) / Vrtiakova, V (Slovakia)
W Foo, A (Malaysia) / Yletyinen, M T (Netherlands) / Yong, P Y (Malaysia) / Yong, P
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/ Wong Pei Shan, J (Singapore) / Wong Phui Yoong, C (Malaysia) / Wong Po
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X
Xu Fumei (Singapore) / Xu Hui (China) / Xu Qun (Singapore)
Y
Ya Min Maung Maung (Myanmar) / Yacoobali, T (Trinidad and Tobago) / Yahya
Hamid (Pakistan) / Yam, E M (Malaysia) / Yan Junxia (Singapore) / Yan Xiayuan
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/ Yap, M T (Malaysia) / Yap, S H (Malaysia) / Yap, Y H (Malaysia) / Yap Foo Ming
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Hui Lin (Malaysia) / Yeo May Chie (Malaysia) / Yeo Shi Qi Shannon (Singapore)
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Yep Yew Ping (Malaysia) / Yew, J Y (Malaysia) / Yew Keh Mee (Malaysia) / Yin Min
Y (Malaysia) / Yong Hoi Yen (Singapore) / Yong Hua Hie (Malaysia) / Yong Siew
Yeang (Malaysia) / Yong Tian Qing (Malaysia) / Yoon, T W (Malaysia) / Young, R N
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Yuill, K A (UK) / Yuslinayati Ah Mo Yusof (Brunei Darussalam) / Yusuf Adebola, M
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Z
Zaeem Nasir (Pakistan) / Zafar Iqbal (Pakistan) / Zahid Majeed (Pakistan) /
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Ming Li (Singapore) / Zhang Tao (Singapore) / Zhang Wei (China) / Zhang Wenxiu
(Singapore) / Zhang Yuan (Malaysia) / Zhao Chen Guang (Malaysia) / Zhao Dan
(Singapore) / Zheng Jing Yin (Singapore) / Zhou Bisheng (Singapore) / Zhou Li Li
(China) / Zhou Qianqian (Singapore) / Zia Zahid (Pakistan) / Zil-E-Sameer Tayib
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(Zambia) / Zulu, P (Zambia) / Zulu, T M (Zambia) / Zunair Maqsood (Pakistan) /
Zunaira Ayyub (Pakistan) / Zwane, S S (Swaziland) / Zwane, Z P (Swaziland)
RESOURCES
GOING DIGITAL
Important information on how
we’re transforming ACCA
student communications!

80 INTO THE DIGITAL AGE

Student Accountant goes
online-only – faster, richer,
dynamic and interactive

82 G20: ACCAÕ S
PERSPECTIVE
CEO Helen Brand on the 84 TESTING TIMES
summit outcomes Prepare to maximise your marks
in June
83 TOUGH CHALLENGES
New research reveals 88 NOTICEBOARD
global concerns Essential reading for all students

is
i n g in th
s ’s
a d verti o ACCA
S ers st ot
UDENT p rovid scriber and are n t
T on ub isi
97 S UCK OFFnd of
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Tuiti on are s r Director CCA. V
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STR test rou m the sect n Provide ved by tudents
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The linaries nary Tuitio ntly app al.com/s
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ACC mittee www d out mo
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80 ACCA NEWS
GOING DIGITAL
From June 2009,
Student Accountant
magazine is going digital.
We will be using the latest
technologies in digital
publishing to bring you a new
and improved student magazine.
Digital magazines will allow us
to retain all the great features
and benefits of the existing
printed magazine – such as
relevant, high-quality content
– while providing enhanced
features which can only
ACCA NEWS
be delivered digitally:
faster and improved
delivery, dynamic and
interactive content,
hyperlinks to
additional material,
embedded video
and audio, and
additional
editorial
content.
We are also
digitising the
last five years of
Student Accountant
magazine to create
a searchable online
archive, giving you an
excellent study resource
and access to richer, more
focused content.
And the added benefit of
going digital means we continue
to play our part in championing
the sustainability agenda. For
nearly 20 years, ACCA has been
a highly proactive participant in
the debate on corporate social
AROUND THE WORLD EVERY
and environmental responsibility.
We promote transparency
and best practice, and aim
ENOUGH PAPER TO FILL FOUR
to help businesses and other
organisations realise the growing
importance of sustainability.
But this means we have to be
an organisation of action as
well as words, scrutinising our
own behaviour and the way we
do business.
We’ve been reviewing the way
we support you as students,
and have been increasingly
moving towards online activity
to drive down the amount of
paper materials we produce
and distribute, reducing
our carbon footprint.
It also means we can
continue to deliver
against one of our core
values – innovation –
by using interactive
technologies
to improve our
service to
GOING
DIGITAL IS
THE MOST
EFFECTIVE WAY
OF REDUCING
ACCA’S CARBON
FOOTPRINT. WITH
362,000 STUDENTS IN
170 COUNTRIES, ACCA
WILL AVOID MAILING
OVER 600 TONS OF PAPER
YEAR – THAT’S A SAVING OF
JUMBO JET CARGO PLANES.

students. Our moves to online
activity have included:
¤ actively promoting online
transactions, eg registration,
exam entry, practical
experience annual returns and
exam results service
¤ introducing online products
to help you achieve ACCA
membership, eg trainee
development matrix and
Professional Ethics module
¤ reducing the amount of
printed communication we
send you, relying instead
on e-mail when appropriate,
which is why it is so important
for you to provide us with your
e-mail address, and update us
if it changes.
We have already made
steps in producing a more
environmentally-friendly printed
Student Accountant magazine,
using responsibly-sourced
paper as well as oxo-degradable
polywrap. However, the most
effective way to reduce our
carbon footprint is to produce
digital publications. With
362,000 students in 170
countries, replacing a paper
magazine with a digital version
means we will avoid mailing
over 600 tons of paper around
the world every year. That’s a
saving of enough paper to fill
four jumbo jet cargo planes.
ACCA strongly believes that this
is the socially responsible action
to take.
Commenting on the move
towards digital publications,
Clare Minchington, ACCA’s
executive director – learning
and customer service, said:
‘The way students in today’s
environment study and learn
is driven by technology – and
STUDENT ACCOUNTANT 05/2009
81
Try our online magazine now
www.accaglobal.com/SA
as innovation is one of our
core values, we welcome the
PWC HOLDS
digital publishing age and will
continue to explore and invest
SUCCESSFUL
in new technologies. Students CHINA
will now receive their
much-valued magazine in an EMPLOYABILITY
enhanced format, while ACCA
reduces its carbon footprint.
EVENT
Everybody wins.’
‘Be brave, be humble and be
Next steps open-minded’ was the call from
From June 2009 onwards, digital ACCA Council member David Wu
versions of Student Accountant (pictured left) at a recent PwC
will be available, with 10 issues Chinese employability event in
produced each year. London. Over 150 ACCA students
There will be two further and affiliates attended an event
printed editions of the magazine providing insights into the global
in 2009 – in August and October economic downturn and the role
– and, in 2010, we will move of China in setting the course to
to producing printed bi-annual
‘THERE WILL BE NEW CHALLENGES YOU CAN WAKE UP recovery. Dr Sun Hongzhi from the
CONTINUOUSLY LEARN AND CHALLENGE YOURSELF,
special editions in April and education sector of the Chinese
October, containing key technical Embassy spoke about the vast
material to help with your opportunities still available for
TO EVERY DAY – YOU MUST ENSURE THAT YOU
IMPROVING YOURSELF EVERY DAY.’ DAVID WU
exam preparation. So you’ll still Chinese graduates, while a panel
receive printed versions of those of PwC colleagues gave advice on
magazines, delivered to your how to be in the best position to
door, and full of technical articles get the best jobs back in China.
and support when you need Advice ranged from interview
it most. preparation to how to be flexible
If we don’t have your e-mail and agile. The panel urged the
address on record, or your audience to research, show
e-mail address has changed business understanding and build
since you last notified us, visit a strategic vision and plan for
https://www.acca-business. themselves. Wu added, ‘There
org to update your details. This will be new challenges you can
means you will automatically be wake up to every day – you must
sent e-mail reminders when each ensure that you continuously
digital edition of the magazine learn and challenge yourself,
becomes available, and we can and improve yourself every
also keep you up-to-date with key day’ – sound advice, given that
information and developments the attendees of this event are
at ACCA. competing with three million
Visit www.accaglobal.com/SA other Chinese graduates.
to check out how the May edition This event was hosted by the
of Student Accountant looks in PwC International Recruitment
digital format. And remember – China Sourcing Initiative Team,
the joint June/July edition will which is sourcing high-calibre
be the first digital-only Student Chinese talent from the UK, US
Accountant magazine. and Australia to PwC in China.
82 ACCA NEWS

G20
OUTCOMES:
ACCA’S
PERSPECTIVE
Publishing its overview of the outcomes of the G20
summit held on 2 April 2009, ACCA is concerned
that the meeting missed clarification of key issues,
especially regarding regulation of hedge funds and
toxic assets.
Helen Brand, ACCA’s chief executive (pictured right),
said: ‘The G20 resulted in largely positive reactions from
business leaders around the world. There were strong
ACCA NEWS

messages about global coordination and regulation.

But there was no firm plan announced to deal with the
billions of dollars of toxic assets clogging up the global
banking system, although leaders did agree that there should
be a common global approach to tackling them. And probably
because it is such a complex issue, details about the regulation
of hedge funds were missing.
‘While we welcome the establishment of the Financial Stability
Board, we do not yet know how it will work, she continued. ‘It
is crucial that reforms regarding the way the financial services
sector is regulated forestall future crises, rather than simply
focusing on past failings. We need a system where sound regulation,
supervision, and good corporate governance reinforce each other.’
ACCA is also disappointed that there was very little mention
of the environment, or of measures involving investment in a
low-carbon economy. Brand added: ‘ACCA believes that the
twin crunches of climate and finance have lead to a unique
and incredible opportunity to re-build global markets with
systems sympathetic to climate change that value societal and
environmental costs and that are sustainable in the truest sense.
It was a missed opportunity by the summit leaders not to make
sustainability central to its plans.’
The G20 also promised that the International Monetary Fund
will be asked to take a stronger role in supervising the world
financial system. Brand comments: ‘As a global organisation, we
are delighted that noises are being made that the power base of
the IMF and the World Bank will be redistributed, although there is
a deadline of 2011. Qualified candidates from any part of the world
should be able to apply for these important positions.’
On a final positive note, Brand concluded: ‘ACCA was particularly
delighted that the G20 communiqué called on accounting standard
setters – the International Accounting Standards Board and the
Financial Accounting Standards Board – to work urgently on
a single set of high-quality global accounting standards.
ACCA has long favoured the principles-based International
Financial Reporting Standards (IFRS).’

ACCA: TOUGH
CHALLENGES TO 2014
Businesses will find it tougher
to raise finance, be less
likely to give credit and place
greater demands on qualified
accountants in five-years’
time as a result of the current
global economic downturn, new
research by ACCA has shown.
ACCA and research company
the BPRI Group asked chief
financial officers, partners and
senior accountants in Europe,
Africa, and Asia how business will
have changed in five-years’ time
as a result of the global economic
downturn, what demand they saw
for qualified accountants in 2014,
and what skills will be in demand.
STUDENT ACCOUNTANT 05/2009
Addressing the economic challenges
www.accaglobal.com/economy
The resulting report,
Accountancy: The future outlook
shows that chief financial
officers, partners, and senior
accountants around the world are
very concerned about the future
financial stability of clients and
customers, with 87% believing
that businesses will be cautious
in giving credit. They expect the
sub-prime mortgage crisis and
the ensuing global economic
downturn will have far-reaching
repercussions, with 84% believing
business will be more wary of
risk taking and 76% strongly
believing that raising funds will
be more difficult as a result.
83
ACCA Nearly
RESEARCH: 70% believe
FACTS AND that executive
FIGURES pay and bonuses will
87% be much more closely aligned to
Percentage long-term performance, with the
of finance same percentage also believing
professionals that complex funding will be
who believe more common. If raising finance
businesses will is more difficult, the report
be cautious in suggests that accountants will
giving credit need to be more resourceful in
coming up with solutions.
70% The research also uncovers a
Percentage growing global expectation that
of finance accountants will fill relatively
professionals complex roles – with finance
who believe professionals being expected
that executive to have skills in enterprise risk
pay and management, strategic scenario
bonuses will be planning and improving use
more closely of data. At the same time,
aligned basic accounting skills – such
as financial audit, financial
63% narrative reports, and budget
Percentage planning, which will be in
of finance demand in many emerging
professionals economies – will be taken for
who expect to granted in many others, with
see an increase accountants expected to have
in demand for
accountants
the full range of skills. Where
basic skills are not outsourced,
senior business people take it as
Source: ACCA
and BPRI Group
Accountancy: The
a ‘given’ that those accounting
activities will form part of
the qualified accountant’s
future outlook report ‘technical toolkit’.
ACCA chief executive Helen
Brand said: ‘The results of our
research show that the current
global economic downturn is
expected to have a significant
impact on global business for
the foreseeable future, and
will create challenges and
opportunities for our profession.
We are committed to continue
working with business to ensure
ACCA qualified accountants
can add considerable value to
business by accessing finance,
identifying drivers of value
and profitability and driving
down costs.’
 84 RESOURCES

Gareth
Ow
guidanc en provides
e on ge
to sit yo tting rea
ur next dy
to maxim exams,
is how
for earn e opportunitie
ing s
how to o marks, and
rg
answers anise exam
effective
ly.

You will receive an Examination
Attendance Docket about four
weeks before your exams start.
The Docket includes a timetable
of all the exams you are entered
for, and details the desk
assigned to you for each paper.
Importantly, it also gives the
address of your exam centre. If
you are not sure where the centre
is, how to get there, or how long
the journey may take, check out
your route before the exam.
Make allowances for rush hour
traffic or other possible delays if
your exam starts at a busy time
of day. Try to arrive at the exam
centre about 30 minutes before
the exam is due to start. This
will give you time to relax and
prepare yourself.
Bring your Docket to the exam,
as you must show it in order to
enter the exam hall, where you
must sit at the desk assigned to
you. The supervisor will collect
your Docket during the exam in
order to register your attendance.
If you have any other exams
during the session, the Docket
will be returned to you. If it is
your last (or only) exam, the
supervisor will keep the Docket
for ACCA’s records.
The Docket also details
important exam regulations and
guidelines; read these carefully,
and make sure you only take
permitted equipment into the
exam. These regulations appear
regularly in the noticeboard
section of student accountant. You
will be required to sign the Docket
to verify that you have read and
understood the regulations.
Also remember to take your
Student Registration Card to each
exam, as this will be checked in
order to verify your identity.
When you arrive at your exam desk
On your exam desk will be:
STUDENT ACCOUNTANT 05/2009
[[2r]]
85
Have a question? Then let us know
students@accaglobal.com
ALTHOUGH ANSWER LENGTH DOES DEPEND ON THE INSTRUCTIONAL VERBS USED IN THE
¤ an Examination Candidate switched off
Registration Sheet and are not
ADEQUATE; FULLER ANSWERS SHOULD BE GIVEN WHEN ASKED FOR ‘EXPLANATION’.
¤ an Examination Script Booklet permitted on your desk.
¤ the Examination Question Paper. ¤ Calculators must meet
REQUIREMENT. FOR A ‘LIST’, OR A ‘BRIEF DESCRIPTION’, BULLET POINTS WILL BE
IDEALLY, ANSWER QUESTIONS USING CLEAR AND RELATIVELY SHORT SENTENCES,
exam guidelines: they must
Check that you have all the be noiseless, cordless
relevant forms, and the correct and pocket-sized; can
version of the exam paper, before be programmable or
the exam begins. If you have any non-programmable; and must
queries, put up your hand and an not have printout or graphic/
invigilator will come to you. text display functions.
Examination Candidate Registration Failure to comply with exam
Sheet (CRS) regulations will result in
Before the exam starts, enter an investigation by ACCA’s
the relevant details from your professional conduct department
Examination Attendance Docket (see ‘Students struck off’, p92).
on your CRS, such as your If you have any queries once
registration number, desk the exam starts – for example,
number, paper number, centre if you want additional paper or
name and code. As the CRS is need to go to the bathroom – put
optically scanned, carefully follow up your hand. An invigilator will
the instructions on the front of attend to you.
the form. For security reasons, because
If your paper contains ACCA holds exams worldwide,
multiple-choice questions, you you must remain in the exam
will record the answers on your hall until the end of the exam. All
CRS. It is important to do this papers – including your Question
correctly; if answers are not Paper, Script Booklet(s), and CRS
clear, you may lose marks; for – will be collected before you are
example, if you do not indicate allowed to leave. Any student in
your final choice, or if more than breach of these arrangements
one bubble per question is filled will be reported to ACCA’s
in. To delete a selected answer, professional conduct department.
place a cross over the bubble .
If you do not record your WHAT TYPE OF PEN TO USE?
answers on the CRS, you will not You must use a black ink pen.
gain any marks. Also remember, Pencils, or red or green pens
as markers log the scores are not allowed; pencil is
for each exam section on the not permanent, and red and
back of the CRS, you must not green ink is used by markers
write on this part of the form and examiners. Black ink is
– if you do, it will invalidate also compulsory for answers to
your result. multiple-choice questions, as
these answers are recorded on the
Key points CRS, which is optically scanned.
Before your exam starts, White correction fluid may
the supervisor will make any be used, but this is inadvisable
announcements and go through as it takes time to dry and could
the exam regulations. Key points obliterate other written material
to note: if a page is turned over while the
¤ Mobile phones should be fluid is still wet. It is better to
86 RESOURCES
cross out mistakes with a bold
black line. This is both clear
to the marker and time-saving.
THE EXAMINATION
SCRIPT BOOKLET
Complete the front page
of the Examination Script
Booklet carefully. Information
required includes:
¤ candidate registration number
¤ desk number
¤ exam centre name and code
¤ exam paper number
¤ questions attempted.
READING AND PLANNING TIME
In a three-hour exam, candidates
have 15-minutes’ reading and
planning time in addition to the
three hours’ writing time. This
time should be used to:
¤ read requirements carefully
¤ gain a better understanding of
verbal and numerical data
¤ make notes
¤ carry out preliminary
calculations
¤ decide on exam strategy.
Read the Student Accountant
article at www.accaglobal.
com/15minutes to find out more
about reading and planning time.
THE EXAMINATION
SCRIPT BOOKLET
Start each new answer on a new
blank page in the Script Booklet.
Indicate the question being
answered in the section provided
at the top of each page. This is
essential. By clearly indicating
the question being answered,
markers can navigate around a
script much more quickly and
easily, which ensures they mark
everything submitted.
Candidates can answer
questions in a different order to
that given on the exam paper,
and this can be a good tactic if
you gain confidence requirement in terms of
by answering a particular form, length and depth.
question first. However, you
SET OUT ANSWERS SO THAT THE MARKER CAN CLEARLY SEE THE POINTS BEING MADE.
Ideally, answer questions
ACCA DOES NOT PENALISE CANDIDATES FOR POOR GRAMMAR OR STYLE, ESPECIALLY
IN THE CAT AND FUNDAMENTALS LEVEL EXAMS, AS LONG AS POINTS MADE CAN BE
must answer all question parts using clear and relatively short
in the right order, as some parts sentences, although answer
may be related. length does depend on the
If you start another question instructional verbs used in the
before completing the question requirement. For example, for
you are working on, leave enough requirements asking for a ‘list’, or
space in the Script Booklet to a ‘brief description’, bullet points
complete all remaining parts of or brief points will be adequate.
the unfinished question. This If ‘explanation’ is required, then
is essential, and means that fuller answers should be given;
all answers to question parts each valid point will normally
are kept together. For example, attract a mark, depending on the
if you decide to leave the last mark allocation.
part of Question 1 until after If a requirement asks for
attempting Question 2, then analysis or evaluation, then
leave enough blank pages in develop points logically, relevantly,
your Script Booklet, indicating and coherently, thereby gaining
‘Question 1’ at the top of each the additional marks available.
page, before moving on to Set out answers so that the
Question 2. Do not forget to marker can clearly see the points
return to those blank pages being made. ACCA does not
before the exam ends. penalise candidates for poor
Start the answer to each grammar or style, especially
requirement on a new line, clearly in the CAT and Fundamentals
indicating in the margin the level exams, as long as points
question part being attempted. can be understood by the
If the requirement has sub- marker. However, by making
parts (such as Part (a)(i), or points succinctly, you can
Part (b)(ii)), mark the related also earn marks more quickly
answer accordingly. This helps and efficiently.
you organise and present your Avoid numbering the points
UNDERSTOOD BY THE MARKER.
work, and makes life easier made within an answer, unless
for markers. the numbering relates to that
Start each new answer point used in the question (see above).
within any requirement on a new Additional numbering can be very
line, so that markers can see confusing for markers.
where each point starts and ends. If a diagram, figure, or
Professional level – and some table is needed to illustrate an
Fundamentals level – exams answer (such as ‘Porter’s five
test the higher intellectual levels forces’), then support it with
2 and 3, so students need to a full explanation, particularly
develop their points further in Professional level exams.
in some contexts, to gain the This tells the marker that you
maximum marks available. understand the model, theory or
concept being illustrated.
HOW TO MAKE POINTS AND
PRESENT ANSWERS PROFESSIONAL MARKS
It seems obvious, but answers At the Professional level,
must be appropriate to the between four and six

professional marks are
specifically available within
certain requirements. These are
awarded for the style and tone of
writing; for example, in a memo,
letter, or report. Therefore,
answers should be in the format
specified by the examiner and
written in a style appropriate to
the intended recipients.
Go to www.accaglobal.com/
promarks for more information
on professional marks, which
are awarded for capabilities
such as:
¤ introducing a topic appropriately
¤ making convincing points
¤ counter-arguments
¤ a logical flow and structure,
drawing together the main
themes of an argument into a
valid set of conclusions and/
or recommendations.
TIME MANAGEMENT
In an exam, effective time
management is vital. If a
candidate runs out of time, then
some questions (or parts) will be
left unfinished and marks lost.
The key to good time
management is to divide the
time allowed between the
marks available. For example,
in a three-hour exam, allow
1.8 minutes per mark, and
in a two-hour exam, allow
1.33 minutes per mark. This
allocation gives a rough guide
as to how long to spend on a
question or part. Candidates
often waste time by:
¤ working on a requirement
for longer than necessary
because they wish to correct a
mistake and amend all related
follow-on figures
¤ feeling they have so much
to say about a certain
requirement that they ‘dump’
all their knowledge in the
Script Booklet
STUDENT ACCOUNTANT 05/2009
87
More online exam resources and advice
www.accaglobal.com/exam_resources
AWARDED FOR THE STYLE AND TONE OF WRITING, IN A MEMO, LETTER, OR REPORT.
AT THE PROFESSIONAL LEVEL, BETWEEN FOUR AND SIX PROFESSIONAL MARKS
¤ persevering with a performance of
question, even though they marginal candidates.
are struggling. If these candidates gain an extra
mark or two, then not only will
ARE SPECIFICALLY AVAILABLE WITHIN CERTAIN REQUIREMENTS. THESE ARE
Candidates can avoid these they pass, but the global pass
problems as follows: rate would be significantly higher.
¤ If you discover an error in a The guidance in this article
calculation or on a financial can really make a difference, so
statement, only correct the remember the following:
initial error. Don’t waste time ¤ find out where your exam
making all the follow-through centre is, and how to get there
ANSWERS SHOULD BE IN THE FORMAT SPECIFIED BY THE EXAMINER.
corrections. By leaving the ¤ turn up to the exam on time
original error uncorrected, the ¤ bring your Exam Attendance
only mark(s) lost are those Docket with you
associated with that particular ¤ bring the right equipment,
entry or calculation as ACCA including an appropriate
uses a ‘method’ or ‘own figure’ calculator and black pens
marking policy. If the method ¤ complete the CRS properly
adopted is correct, credit ¤ cross out incorrectly marked
will always be given, despite bubbles clearly
incorrect numbers being used. ¤ complete the front page
¤ Only make as many points as of the Examination Script
there are marks available, so Booklet correctly
that you avoid over-running. ¤ use reading and planning
For example, if five marks are time effectively
available for discussing a theory, ¤ indicate the top of each page
only make five (or possibly six) with the question number
separate clear points. Use your being attempted
judgment – but your guiding ¤ keep all answers relating to
principle should be to avoid question requirements together
spending too much time, so and in order
that you can move on to the ¤ start the answer to a new
next question. requirement in a new paragraph
¤ If you are struggling to get to and label it in the margin
grips with a requirement, move ¤ start each answer point on a
on to the next requirement, or new line
even question, leaving enough ¤ write points concisely
blank pages in your Script and clearly
Booklet to complete it later. ¤ relate the length and depth of
answers to the instructional
CONCLUSION verbs used
The global pass rate for any ¤ correct only the original
exam is very sensitive to the error in calculations or
financial statements
¤ make only the number
of points required for the
marks available
¤ move on to another
requirement if you are stuck.
Gareth Owen is qualifications
development manager at ACCA
88 RESOURCES

ACCA CONNECT
FEES
Annual subscription – 2009
The annual subscription fee was due and
payable on 1 January 2009. Remember you
can pay your fees at ACCA’s e-business website:
https://www.acca-business.org
Every student on file as at 1 January each
year is required to pay a subscription for that
year in order to remain active on the register.
The initial subscription fee submitted with your
students@ Initial Registration Form is required to cover
accaglobal.com the registration process and maintain your
name on file for the calendar year in which
you register.
+44 (0)141 Students who fail to pay fees when due
582 2000 (including exam/exemption fees), will have
their names removed from the ACCA register.
Students wishing to re-register are required to
submit any amounts unpaid at the time of their
removal in addition to the re-registration fee.
No penalty fee will be charged. Confirmation
of your unpaid fees can be obtained from your
national ACCA office or ACCA Connect.

The following fees and subscriptions apply:

CAT students
Initial subscription £58
For all enquiries, simply contact ACCA Connect – our Re-registration *£58
global customer service centre. However you want Annual subscription £58
to contact us, by phone, fax, e-mail or post, one of Introductory Level exam £37
our expert advisers will be happy to assist you. Intermediate Level exam £37
Advanced Level exam/exemption £42
MONDAY TO THURSDAY
Open 21 hours (closed 20.00 to 23.00) ACCA Qualification and
MSER students
FRIDAY Initial subscription £66
Open 20 hours (closed 20.00 to midnight) Re-registration *£66
Annual subscription £66
SATURDAY Knowledge exam/exemption £50
Closed Skills exam/exemption £60
Professional exam £70
SUNDAY *plus unpaid fee(s)
Open 09.00 to 17.00 and 23.00 to midnight
(all times based on GMT/BST as appropriate) Affiliates
Annual subscription £95
ACCA Connect Permanent subscription £181
2 Central Quay 89 Hydepark Street Glasgow
G3 8BW United Kingdom Don’t forget to pay your fees on time. Dates by
tel: +44 (0)141 582 2000 which fees and subscriptions must be paid and
fax: +44 (0)141 582 2222 arrangements for payment are included in your
e-mail: students@accaglobal.com ACCA welcome pack.
website: www.accaglobal.com
 STUDENT ACCOUNTANT 05/2009
89
Are your contact details up to date?
https://www.acca-business.org

EXAM TIMETABLE Thursday

4 June
4* Accounting
for Costs
JUNE 2009 T F S F9 Financial Management
W
S M T 4 5 6 P4 Advanced Financial
3
31 1 2 11 12 13 Management
7 8 9 10
18 19 20
17
14 15 16 25 26 27 Friday 5 June
24
21 22 23 2 3 4 5* Managing People and
1
28 29 30 Systems
DECEMBER 20 F2 Management Accounting
09
S M T MMA Management Accounting
W T F
29 30 1 S
2 3 4 P5 Advanced Performance
6 7 8 5
9 10 11 12 Management
The following dates have been 13 14 15
16 17 18
20 21 22 19
confirmed for the next two 23 24 25 Monday 8 June
27 28 29 26
exam sessions: 30 31 1 8* Implementing Audit
2
Procedures
June 2009 F5 Performance
Week 1 1 to 5 June Management
Week 2 8 to 10 June P1 Professional Accountant

December 2009 Papers F1 to F3 are two-hour Tuesday 9 June

Week 1 7 to 11 December exams, and Papers F4 to F9 and 9* Preparing Taxation
Week 2 14 to 16 December P1 to P7 are three-hour exams. Computations
F7 Financial Reporting
Exams will take place over an Monday 1 June P2 Corporate Reporting
eight-day period with one session 1* Recording Financial
of exams each day. The exams Transactions Wednesday 10 June
will be held concurrently in five 6* Drafting Financial 10* Managing Finances
different time zones. The base Statements F1 Accountant in Business
starting times in each of these F6 Taxation P3 Business Analysis
time zones will be: P6 Advanced Taxation
¤ Zone 1 (Caribbean) – *CAT Scheme exams
08.00hrs Tuesday 2 June
¤ Zone 2 (UK) – 10.00hrs 2* Information for
¤ Zone 3 (Pakistan and South Management Control DETAILS OF
Asia) – 14.00hrs 7* Planning, Control
¤ Zone 4 (Asia Pacific) – and Performance LOCAL START TIMES
15.00hrs Management CAN BE FOUND
¤ Zone 5 (Australasia) – F4 Corporate and
17.00hrs. Business Law AGAINST EACH
P7 Advanced Audit CENTRE OF THE
Local starting times will be and Assurance
set falling out from these base EXAMINATION
start times for every centre. Wednesday 3 June CENTRE LIST
Details of local start times can 3* Maintaining
be found against each centre Financial Records ACCOMPANYING
on the Examination Centre List F3 Financial Accounting YOUR EXAMINATION
accompanying your Examination MFA Financial Accounting
Entry Form. F8 Audit and Assurance ENTRY FORM.
90 RESOURCES
EXAM RULES
Important information for all ACCA students intending to take exams at the
June 2009 exam session.
1 You are required to comply
in all respects with any
instructions issued by the
registrar, exam supervisor, and
invigilators before and during
an exam.
2 You may not attempt to deceive
the registrar or the exam
supervisor by giving false or
misleading information.
3 You are not allowed to take
to your exam desk, possess,
use, or intend to use while at
that desk, any books, notes or
other materials except those
authorised by the registrar. If
you are found to have taken to
your desk, or possessed while
at that desk, unauthorised
materials which are relevant to
the syllabus being examined,
it will be assumed that you
intended to use them to gain
an unfair advantage in the
exam. In any subsequent
disciplinary proceedings, it
shall be for you to prove that
you did not intend to use the
materials to gain an unfair
advantage in the exam.
4 You may not assist, attempt to
assist, obtain, or attempt to
obtain assistance by improper
means from any other person
during your exams.
5 You are required to adhere at
all times to the Instructions
to Candidates, which you
receive with your Examination
Attendance Docket.
6 You are required to comply with
DOCKET CONFIRMING YOUR AGREEMENT TO COMPLY WITH THESE RULES.
DOCKET – YOU SHOULD TAKE TIME TO FAMILIARISE YOURSELF WITH THEM. the exam supervisor’s ruling.
Supervisors are obliged to
THESE RULES ARE REPRODUCED ON YOUR EXAMINATION ATTENDANCE
IN ORDER TO BE ELIGIBLE TO SIT YOUR EXAMS YOU MUST SIGN YOUR report any cases of irregularity
or improper conduct to the
registrar. The supervisor is
empowered to discontinue your
exam if you are suspected of
misconduct and to exclude you
from the exam hall.
7 You may not engage in any
other unprofessional conduct
designed to assist you in your
exam attempt.
8 You are not permitted to remove
either your script booklet or
your question paper from the
exam hall. All exam scripts
remain the property of ACCA.
9 Once the exam has started,
you are not allowed to leave the
exam hall permanently until
the end of the session, and
then only when instructed by
the supervisor.
These regulations are reproduced
on your Examination Attendance
Docket – you should take time to
familiarise yourself with them.
In order to be eligible to sit your
exams, you must sign your docket
confirming your agreement to
comply with these regulations.
Important examination rules
¤ Mobile phones and pagers
should be switched off at
all times in the exam hall,
and are not permitted to be
taken to your desk under
any circumstances. Mobile
phones are not permitted on
your desk even if they remain
switched off.
¤ Calculators taken into the
exam must comply with the
regulations stated on your
Examination Attendance Docket,
ie they should be noiseless,
pocket-sized, and they must
not have a print-out facility or
graphic word display facility in
any language.
¤ For security reasons, the exams
are held concurrently in five
different time zones. Students
are therefore not permitted to
leave the hall permanently until
the end of the examination
session. Any student in
breach of this regulation will
be reported.
In the exam hall
Every effort is made to ensure
that you sit your exams in the best
conditions. However, if you have
a complaint regarding the centre
operation, you should make
this known to the examination
supervisor in the first instance.
The supervisor will do everything
within their power to resolve the
matter to your satisfaction there
and then. If the complaint is of
a fundamental nature, ACCA will
take whatever further remedial
action it considers appropriate in
the circumstances.
 STUDENT ACCOUNTANT 05/2009
[[2r]]
91
Have a question? Then let us know
students@accaglobal.com

OXFORD
BROOKES
Students completing certain papers of the ACCA Qualification are
EXAM CENTRE L903 LONDON – NORTH WEST eligible to apply for a BSc (honours) in applied accounting from Oxford
As part of ACCA’s ongoing review of exam Brookes University. You can check your eligibility status at
centres, the L903 – Earl’s Court exam centre, www.accaglobal.com/students
formerly London – North West, has been
replaced from the June 2009 session with L903 – How to apply to opt in
Alexandra Palace. This venue has been sourced so If you initially registered with ACCA from 1 January 2001 and elected
that ACCA can provide a single, more permanent not to join the scheme at the time of registration, you can still apply
venue, and it is hoped that this will also benefit to opt in at any time prior to attempting ACCA Qualification Papers F7,
students who have, in recent sessions, been F8, or F9. Write to: ACCA Admissions, 2 Central Quay, 89 Hydepark
allocated to several unnamed venues. Street, Glasgow G3 8BW, United Kingdom and request to be opted in.
To opt in online, simply visit ACCA’s e-business website at
CHANGES TO THE EXAM FORMAT FOR https://www.acca-business.org
PAPER F5, PERFORMANCE MANAGEMENT
ACCA is changing the format of the exam Submission of Research and Analysis Project (RAP)
questions for Paper F5 from the June 2009 If you are opted in to the Oxford Brookes partnership and intend to
exam session. Five compulsory questions will submit your RAP, you must do so within 10 years of your first date
now be set, each worth 20 marks. However, the of registration with ACCA. The dates below outline the forthcoming
style of the questions and the computational deadlines for completing the qualifying exams and the last opportunity
and discursive elements in the questions will you have for submitting your RAP. Turn to page 48 for important
continue to be broadly in line with the pilot information on the new RAP.
paper. You are strongly advised to read the
examiner’s approach to Paper F5, published in First session (1) Final session for completing Final date for submission
the January 2009 issue of student accountant. the qualifying exams (2) of RAP
December 1999 June 2009 October 2009
READING AND PLANNING TIME June 2000 December 2009 April 2010
Reading and planning time (RAPT) is an December 2000 June 2010 October 2010
additional 15-minute time allowance given to June 2001 December 2010 April 2011
all students taking three-hour exam papers. December 2001 June 2011 October 2011
Candidates are not permitted to open their June 2002 December 2011 April 2012
script/answer booklet until the end of this December 2002 June 2012 October 2012
time. The exam start time will be indicated on June 2003 December 2012 April 2013
the exam attendance docket which is sent to
all candidates before the exams, and the exam Notes
will end 3 hours and 15 minutes after this time. 1 First applicable exam session as confirmed at the time of your
During RAPT, candidates may annotate their initial registration with ACCA.
question paper, but are not permitted to open 2 Completion of Fundamentals Level exams.
their script booklet or make notes on the cover
under any circumstances. Professional Ethics module deadline
Students wishing to submit their RAP in September/October must
RAPT DO’S AND DON’TS have completed the Professional Ethics module by 31 July for the
Students can write on their question paper and September/October submission period.
use a calculator. Students cannot open or write
on their script booklet. Visit http://www.accaglobal.com/students/study_exams/qualifications/
degree/ for more information on the ACCA/Oxford Brookes partnership.
92 RESOURCES
STUDENTS
STRUCK OFF
ELENA TISHCHENKOVA
On 23 April 2008, the
Disciplinary Committee of ACCA
considered a complaint against
a student, Elena Tishchenkova
of Moscow, Russian Federation.
The complaint, that she was
liable to disciplinary action under
bye-law 8(a)(i) in that she took
to her desk and/or possessed
while at her desk, materials
not authorised by the registrar
and intended to use them in
her exam attempt, contrary to
the Fundamental Principle of
Integrity, was found proved.
The Committee ordered that
Elena Tishchenkova be removed
from the student register and pay
costs of £610.
VICTOR NIKOLSKIY
On 23 April 2008, the
Disciplinary Committee of ACCA
considered a complaint against
a student, Victor Nikolskiy of
Moscow, Russian Federation. The
complaint, that he was liable to
disciplinary action under bye-law
8(a)(i) in that he took to his desk
and/or possessed while at that
desk, materials not authorised
by the registrar and intended to
use them, in his exam attempt,
contrary to the Fundamental
Principle of Integrity, was
found proved.
The Committee ordered
that Victor Nikolskiy should
be removed from the student
register and pay costs of £610.
SU DOKU SOLUTIONS
TATIANA KISELEVA
On 22 April 2008, the Difficulty rating
Disciplinary Committee of ACCA
considered a complaint against
a student, Tatiana Kiseleva of
Moscow, Russian Federation. The
complaint, that she was liable
to disciplinary action under
bye-law 8(a)(i) in that contrary
to Examination Regulations, she
took to her desk and possessed
while at that desk, materials not
authorised by the registrar and
intended to use the unauthorised
material to gain unfair advantage
in the examination, contrary to
the Fundamental Principle of Difficulty rating
Integrity, was found proved.
The Committee ordered
that Tatiana Kiseleva should
be removed from the student
register and pay costs of £750.
STUDENT REPRIMANDED
ROHIT SABHARWAL
On 3 June 2008, the
Disciplinary Committee of
ACCA considered a complaint
against a student, Rohit
Sabharwal of Hounslow, UK.
The complaint, that he was
liable to disciplinary action
under bye-law 8(a)(i), in that
he was guilty of misconduct by NEW STUDENTS
failing to disclose his criminal Applications are normally processed within four
conviction, and representing to six weeks of receipt in the Glasgow office.
that he had no previous Forms handed in to national ACCA offices
convictions, when registering as or Joint Scheme offices will be forwarded to
a student of ACCA, contrary to Glasgow. Students who apply to register online
the Fundamental Principle of can track the progress of their application
Integrity, was found proved upon on the e-business website at https://
Rohit Sabharwal’s admission. www.acca-business.org. New students should
The Committee ordered that he allow adequate time for processing and receiving
should be reprimanded and pay official confirmation of their registration.
costs of £610.
 “N e t pas STUDENT
y x m ?”
ACCOUNTANT 05/2009
93

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94 DIRECTORY

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