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    Grace is offline Author Grace is on a distinguished road
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    Default important topics

    Hi all,

    Out of 6 sections, in which F3 syllabus is divided, the last 3 sections are more important from an examination point of view. These sections contain the most exam asked topics such as:

     Suspense accounts
     Bank reconciliation
     Incomplete records
     Events after balance sheet date

    For events after balance sheet date keep in mind the following:

    Adjusting and non-adjusting events

    a) Adjusting events: Conditions exist on the balance sheet date
    e.g. the settlement after the balance sheet date of a court case that confirms that the entity had a present obligation at the balance sheet date

    b) Non-adjusting events: Conditions arise after the balance sheet date
    e.g. decline in the market value of investments after the balance sheet date

    An entity which is no longer a going concern:requires a fundamental change in the basis of accounting rather than just an adjustment to the values

    Hope this will help you.

    All the best.
    Last edited by Grace; 15-11-07 at 11:53 AM.

  2. #2
    Mukund Guest

    Default Very useful

    Can we get some important tips sectionwise as per ACCA syllabus as it will help me to focus on important topics of section....

    :)

    Mukund

  3. #3
    Mukund Guest

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    Hi can any budy explain me 'What is meant by seperate leagal existance (of entity)'...... I found the leagal diffrences of diffrent entities very useful (Ref. Get Through Guides-Keynotes A1.2 in tabular format)

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    Hi there,

    Seperate legal entity is a feature of Corporations .

    Seperate legal entity means that the company or business is a seperate legal person apart from its owners or shareholders.

    A company which is a legal person can be sued in courts and can be made liable for debts . The shareholders will not be sued or be held accountable for the debts of the company.

    Seperate legal identity is a vital feature of Incorporated companies which is not found in Ordinary (Traditional) Partnership structures.

    I hope this helps

    Best of luck!

    Acid
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