F8 Bringing It Together,

[Acid]

Hi ,

Audit & Assurance by nature is a very practical paper , which requires a good understanding of audit procedures and risk assessment policies.
This paper requires a logical reasoning of many audit issues which will help to answer exam questions and effectively solve the scenerio case studies.

A good idea is to practice as many case studies as possible. I've got an idea that we can put up exam standard questions here and disuss it together and brainstrom some ideas. That would make learning fun , easy and in this way we can help each other out. The most important thing is that we would get many ideas which are necessary to effectively do the case studies in the audit paper.

So who ever is giving F8 and would like to try this new approach which will be helpful to all F8 students should let me know .

In this way , we can discuss an exam standard audit question. In the presence of the author It would also help us to identify our weak areas and better approach to solve a particular question/case.

So whoever is up for it , should enlist here by writing a post.

Best regards,

Acid

[Acid]

Thanks Tracy for joining in and great to have you a member here!

Let's wait a while , perhaps till 30 Feb so that we can get many other Students here with us ? The more the merrier and the better brainstroaming process!!

Best of luck and see you soon.

Acid

[Acid]

Brilliant!

We've got 5 F8 study partners already! So we will reduce the deadline and wait for only 2 days instead of 10 and start our program.

I think this will proove to be useful for all F8 Students and those who have to resit their exams , as this will give them a new , different approach to the paper.

I'll set the plan in a day or so , so we can continue on that one and will definitely take F8 as our prisoner!


Best regards!

Acid

[Acid]

please count me in.
This is an excellent idea.

Thanks


Welcome Sophie , I will send you the instructions by tomorrow. Glad to have you in our "War against F8 team! "

Best Regards,

Acid

[Acid]

Hi Acid,

I think I am already in


Annie


Definitely . Glad to hear from you after ages!

[Acid]

Hi friends,

We have got 8 member who will take part in the F8 Discussions.

The name of participants are :

1-Sao
2-Tracy
3-Sophie
4-VIVIENNE
5-Alicia
6-Hrinkaa
7-Ulysses Kwaku Nubueke
8-Acid


The format which we will follows is , I will put up a question for example ...

Q- Explain the differences between an internal and external auditor

All participants can give there answers in bullet points , paragraph , or any format which they are easy with. The weaknesses and strength would be noted and reported.

This is going to be a study plan and the participants should make sure that they play an active and consistent role to achieve a better performance.

All participants shouldnt take more then 2 days in answering the questions and the recommanded time is ofcourse within 24 hours.

As this study plan belongs to all of us , I want you give me suggestion that how many questions would you want per day ...1 , 2 , 3 or only 1 ?

If you can come up with any other suggestion than let me know. We will start our study plan from Feburary 23.

Together we will GET THROUGH !

Acid.

[Vanessa]

Hi all,

Acid has made a fantastic suggestion. We at GTG will help you in every possible way so that you can come out with flying colours in the F8 June'08 exam.

[Vandana]

I offer myself as a mentor to guide you, along with Vanessa. Do you know most people fail auditing, not because they don't know the theory, but because they don't express it in the right way.

F7 and F8 are my favourite subjects and I taught these for many years. I also audited for a fwe years, following ISAs so will bring in this experience to you too.

Vanessa and I will critique the answers you put up and give you comments for improvement. How about that?

WE WILL BEAT F8 TOGETHER!!!!!!

[Vivienne]

i would like to make the following suggestions to our plan

1. mark allocation
the questions should contain marks as a guide because the length of the
answer depends on the marks on offer.eg i cannot give a full page for a 2
mark question
2. Number of questions
i suggest 3 questions per given time. this is because there are some who
are working and they need time to knock off and then look at these
questions
besides let us give chance to the other subjects that we are writing along
side with f8.
3. time allocation
if a question is posted it should be answered in the next 24 hrs.for example
questions that are posted on 23 feb should be answered on 24 feb then
i dont know for how long we shall wait for the feedback.we should also
agree on whether we would receive another set of questions before we get
the feedback.
4. mock exam
finally let us have a mock exam of the likely questions in the exams with
the giudance of our volunteer mentors Vandana and vanessa

i would like to commend Acid for coming up with this good plan.With this
war we have started ,Victory is in sight because we are going to the
battlefront armed.

Thanks also to Vandana and Vanessa for offering themselves to mentor us
we would like to assure you that your effort shall not be in vain.

Lastly these are just my suggestions and as such i would like to hear the
views of the others

[hrinkaa]

let me first say how happy i am to have joined this group, they mean business. I envy people like Acid, and Snehal because they take leadership and make people contribute. THREE CHEERS TO BOTH OF THEM.

Question, why only F8, why not others also. Me wishes for F9, and Income Tax, Indian variant.

Also, this need not be restricted to June 08 exam. We shall be early - plan the innings rather than slog in the end overs. That way we can post big marks totals.

Love from hrinkaa

[YOURaccaDEMON]

None of you can pass this F8 !!!

You cannot beat me - you will ALL fail - I challenge you ALL

these attempts are futile, you might as well give up now - LOL

[Acid]

Hi

I like all the suggestions given by vivie and would take them into account for the studyplan.

Regards ,

Acid

[Acid]

Hi guys,

Till now the format which I've come up with , after taking suggestions into account is :

1 - 2 Questions per day
2- Participants should answer in 24hours.
3- We will move on the second session i.e. new questions and wouldnt wait for feedback as it may take a day or so.
4. All the answers would be marked.

Many thanks for Vandana and Vanessa for helping us with our Studyplan for F8.

Regards ,

Acid

[Acid]

Hi all ,

As I said above , That Audit is a very practical subject which had the least passrate . So we should take a practical approach rather then a bookish approach. When we come across an audit question , use your audit knowledge from the book and also logic and if you wish than take help from the Studytext , but do not copy the text out! Otherwise the whole purpose of the plan is lost.

And dont worry If you cant right a lenghty and handsome answer . Just write the best you can. Slowly slowly the performance would increase over time. I also suggest to do one chapter from the Studytext everyday.

If you come across any problem or dont understand something then put your question here over the forum and we will all help you out . Getting the concepts clear is a good thing always.

Also , In Audit dont limit your knowledge to the book . Its highly unlikely that the examiner would give the papers which requires same audit procedures which are mentioned in the book.


Cheers.

Acid

[Acid]

hi acid
i wish to be part of this discussion,
alisha


Hi Alisha ,

Welcome to our F8 Studyplan. I wish it would be helpful for all of us and I assure you that this time we will help you and you will help us to get through the F8 exams ! But then you will have to throw us all a wonderful party after you pass your F8 exam in June 08 session ;)


Take care

Acid

[alishaACCA]

May ur words come true ,,
i don't want to fail again in this paper,,
btw how are you going to move forward, u're going to post questions?? when?/

[Acid]

Greetings...

Our study plan will be effective from Today!

Stick to the plan or the demon above would get you.


Acid

[Acid]

Hi Acid,

Sounds like a great idea, please count me in.

Thanks
Kelly


Hi Kelly .

Welcome to the F8 Study plan . Please read all the study plan and the study approach above and we will start the plan from today.

Cheers..

Acid

[Acid]

Hi did I miss something, I thought we were waiting for feedback to Session 1??
I haven't done session 2 yet - and there aren't many anwsers to session 2 either, maybe they have been awnsered via private messages.....
How are we going to go forward with these qns?

Will the Qns be posted every couple of days, and then leave it to whoever finds time to awnser qns to do so, or do we wait for feedback from tutors to correct and advise on each qn before we proceed to the next qn?

I'm a bit confused as to what to do.. It will be hard for me to do a qn every day or so, as I have paper F7 to study aswell (and I work). The last thing I want to do is sacrifice one paper for the sake of another.

Am I the only person thinking along these lines or are there more out there in the land of confusion!!!???
Kelly


Kelly ,

You have 3 Days to answer questions from a session . i.e. If session 2 starts on 1 jan then you can answer till 3 Jan.


There is no private messaging of answers.

Feedback would be provided As soon as possible but we wont wait for feedback.

So it would be like , we will do all the questions and hopefully will get feedback by the weekends.

Does that clear you up?

[Kelly]

Hi Acid,
So I guess that means I'm too late to answer session 2, and the answer to session 3 needs to be submitted by Saturday.

Just one more question: If I wish to answer session 2 qn - is it not given feedback? Or will someone be able to tell me where I'm going wrong, and what needs to be added to give a sufficient answer?

Many thanks for your patience with me.
Kelly

[Acid]

Welcome to our F8 Studyplan Krishna! If you have any query , doubt please dont hesitate to ask here.

Because we all plan to GET THROUGH F8 together this session !

Acid

[krishna3898]

Hi all,
please post both Q & A here only no private message,so that evey one will get benefit.
Thanks.
krishna

[Acid]

Questions and answers are not being / will never be sent via Private message (PM) .


Everything is here on forum . Please check session 1 and 2 questions and answers and read the study approach.


Regards,

Acid

[phica]

From which text book are u discussing the Q/A please let me know..

[tracy]

Does anyone else think it would be a good idea to start a new thread for each session, that way the questions answer and feed back can be kept together for each question,

Not sure if this would work, what do other people think.

Cheers
Tracy

[Sao]

hi acid

sorry for not posting on this forum but i really have a genuine problem...

i currently do not have access to my personal computer as i left my laptop charger back in ksa and i wont be able to get it until around the 3rd week of march...so can u please excuse me till then from answering the questions....ill join in the discussion as soon as i get my laptop workng...THX

[Acid]

Phica ,

You are already the part of the study plan and we await your session answers. Questions are general and we are thinking "out of the box" . I would recommend GTG F8 Study text for all F8 .

Tracy , Your suggestion has been taken into account and we have a sub section and all question answer would take place there

i.e. Session 3 Questions in new thread and all answers goes in that thread.

Sao , You will get your charger soon so you may carry on till that time.


Regards
Acid

[krishna3898]

Hi,
How you people not count me???????
and
Hi hrinkaa
am agree with you for Tax paper (indian variant) please start as soon as possible.
Thanks.
krishna

[Acid]

Hi,
How you people not count me???????
and
Hi hrinkaa
am agree with you for Tax paper (indian variant) please start as soon as possible.
Thanks.
krishna


Hi Krishna ,

You are already in! Apologies for not including your name in a formal message.

Please start with your answers , as feedback time is soon around the corner.


Cheers..

Acid

[krishna3898]

Hi Acid,
I just started reading F8,so its no good or not clear in concept to answer the question,,,any have I keep on follow that,mean time I will try to finish as soon as possible.
All the best
Regards.

[pgsbaugh]

I would like to join the study plan for F7 & F8. What is my first step?

[Acid]

Thanks for joining out studyplan!

The first step is to read all the Study approach and plan and If you are already over with that , then you can start answering the questions , starting from session 1 .


If you require any further assistance , please dont hesitate to get in touch


Acid

[sash_lar]

I have just join the forum this month. This idea is what draw me to get involve. Bbrilliant idea!!! I have already entered a response to session 6. This is good practise on how to answer questions.

What I have realised is that, students like myself knows the facts but in an exam setting it may not come across the way I would like or I may have misinterpreted the question.
Therefore the practise of answering these exam questions and getting feed back will prepare us better and it will give us ideas as to the different interpretation to the questions posted.

I will be attempting the other sessions that were posted previously.

[raymondhoh]

great idea. i am in .thanks

[Acid]

Hi Raymondhoh,

Welcome to our study plan , I hope with you in our team , we will definitely share some wonderful ideas for F8.

Cheers

Acid

[tracy]

Hi guys,

I'm stuggling to keep up with the questions, how do you manage, I work full time and am studying two F8 and F7, I tend to spend one evening on one paper and the next on the other.

Any idea's with help me keep up would be great.

Cheers
Tracy

[Acid]

Come to the forum and answer 1 question everyday ! Thats how you would be able to do it!


Take this as a part of your study programme.

Cheers

Acid

[sash_lar]

Please update member list so we can see who is next, after annie, to issue the question. Thanks Acid

Sash

[chiheni]

very, true, Acid. Lets join hands indeed. Chiheni

[tracy]

hi,

When will we get any more marked answers?
Cheers

[rajni]

hi,

When will we get any more marked answers?
Cheers

hi,

very soon you all will receive your marked answers

[Vivienne]

hi all,

nice to know that we now have a lot of active participants on f8 .Acid please do a list of active members fast.we have to know who is asking session 9 because remember we said the questions are supposed to be posted on monday and thursday. we are even late by one day

[Acid]

Alright, I will work on this one tonight and things should be ready by the end of the day.

Acid

[samtecks]

Hi ,

Audit & Assurance by nature is a very practical paper , which requires a good understanding of audit procedures and risk assessment policies.
This paper requires a logical reasoning of many audit issues which will help to answer exam questions and effectively solve the scenerio case studies.

A good idea is to practice as many case studies as possible. I've got an idea that we can put up exam standard questions here and disuss it together and brainstrom some ideas. That would make learning fun , easy and in this way we can help each other out. The most important thing is that we would get many ideas which are necessary to effectively do the case studies in the audit paper.

So who ever is giving F8 and would like to try this new approach which will be helpful to all F8 students should let me know .

In this way , we can discuss an exam standard audit question. In the presence of the author It would also help us to identify our weak areas and better approach to solve a particular question/case.

So whoever is up for it , should enlist here by writing a post.

Best regards,

Acid
i would like to register my nterest as i am taking the june exams on f8. hope learn more from this sessions.

[Smartmoneychu0926]

Hi Acid,

I am a new joiner here - say hello to everybody~ hello~

I wanna join this team to take some practice for F8 exam coming by June.

I just went throught the whole pages and found I have falled behind of you, would you please let me know the sessions you guys have practice so far? I wanna have a try to catch up with you.

Have a nice day and thanks for your help.

Smartmoney Chu

[guamamk]

why not? I got nothing to loose by joining. Down with F8!

[vetrivel]

eeven i entered very late but i also benefits from your bulletyins and forum
thank you
alot

[vetrivel]

hi all

can any body explain to me what is inherent risk and i notice in acca student accOUNTnt articles that inherent risk and financial statement risk.

can anybody clear my doubt about financial statement risk and inherent risk and how financial risk and inherent risk that interrelated?

[Acid]

Hi there


Inheret risk and the relationship you mentioned is already mentioned on the forum. Please check F8 forum and F8 Bringing it together thread.

Regards

[Asiya Shaikh]

Hi ,

Audit & Assurance by nature is a very practical paper , which requires a good understanding of audit procedures and risk assessment policies.
This paper requires a logical reasoning of many audit issues which will help to answer exam questions and effectively solve the scenerio case studies.

A good idea is to practice as many case studies as possible. I've got an idea that we can put up exam standard questions here and disuss it together and brainstrom some ideas. That would make learning fun , easy and in this way we can help each other out. The most important thing is that we would get many ideas which are necessary to effectively do the case studies in the audit paper.

So who ever is giving F8 and would like to try this new approach which will be helpful to all F8 students should let me know .

In this way , we can discuss an exam standard audit question. In the presence of the author It would also help us to identify our weak areas and better approach to solve a particular question/case.

So whoever is up for it , should enlist here by writing a post.

Best regards,

Acid

i wud lyk to join plz enter me in d discussion

[Asiya Shaikh]

i wud lyk to join plz enter me in d discussion
i wana enter plz include me 2

[Acid]

Hi Asiya,

Welcome to our F8 BIT Discussion board. Please visit our previous study sessions and also special assignments in F8 Bringing it together. And let us know If you need any help .

We would look forward for your valued contribution in our group discussions which would be benficial for you and all of us.

Regards

[ptty_noel]

Today was the first day I saw this F8 group . Is it too late for me to join? If it isn't please count me in.:notworthy: