PQ magazine September 2017 www.pqmagazine.com / www.pqjobs.co.

uk

Are you ready to go? PQ-Go

Are you exam-ready?

You need PQ-go.com

 NEW

Introducing an
exciting new range of
enhanced AAT courses
Get the support you need to stay motivated, study flexibly when
you want and gain the confidence to pass your exams.
Its a better way of learning thats built around you.
 comment PQ

CONTENTS September 2017 How long will it take?

News 30ACCA exam tips Top tips from
I dont know how you feel about our story Five years time
08Getting qualified How long it the UKs leading lectuers
takes on average to get a pass (page 8)? Is five years a long time to get qualified? We
31CTA exams Why not become a
10ACCA exam results The Chartered Tax Adviser? We understand that peoples lives can be complicated and there
good, bad and ugly pass rates outline the steps you can take are lots of distractions out there. However, some 28% of you have been
12CIMA scores Its steady as she 34ICAEW spotlight The institute at it for half a decade. We believe that the accountancy bodies have
goes for institutes exam sitters shows off its array of resources some responsibility to help get you there. They have some fantastic
13Whats on the web? Check 36Careers Life at Ealing council; resources online, but maybe they need to provide a more targeted and
out our website for more stories the PQ book review; and our personal approach. Perhaps they could offer a more one-to-one exam
Features, etc social media round-up
mentoring/coaching service. Surely if a student has failed an exam
06Mind your Ps&Qs CIMAs got 38Fun stuff and our giveaways more than, say, five times there should be some intervention.
me confused over student The columnists
Facebook site; CIPFA woes; and
more issues with AAT synoptics Robert Bruce Cricket points the
way in an ever-changing world 8 Annual reports
15ACCA CBEs Should you switch We have also read all the annual reports for you, except ACCAs, which
to computer-based exams right Prem Sikka Pitiful regulations
make UK a magnet for criminals 10 isnt out yet (page 18). Thanks for listening, CIPFA, and publishing the
now? We explain the implications
Zoe Robinson Why practice does CEOs salary. Thats one campaign won it took 10 years but we never
18Annual reports We run the
rule over the most recent set of not always make perfect 12 gave up! The bodies will need to look at the layout of these reports in
reports. So whose is the best? Subscribe to PQ magazine future; what works on paper doesnt always work online. Our winner
20Ethics Organisations are being Its FREE see page 35 or go to this year was AAT. It always produces a strong, clear, concise report.
judged on more than the figures www.pqmagazine.com
22CIMA spotlight What sort of ABC July 2015 June 2016 Pass rates one and all
learner are you? Take our short
test and youll find out 32,238 In this issue we publish ACCA, CIMA and ICAEW pass rates. Last
month we had all the AAT rates. We believe it is really important that
24Data protection Significant these are published, so you can benchmark them against whatever
changes to the data protection
laws will impact on your firm body you are studying with, or plan to study with in the future. We
25Lets get technical Why its know direct comparisons are impossible, but you can see that
vital you continually test yourself Publishers statement: We send a the ICAEWs tax compliance exam has a pass rate of 78.5%
on your syllabus knowledge digital issue of the magazine to an and ACCAs F6 tax papers is 50% (page 10). Finally, can I
26AAT Business Tax exam Tips additional 9,821 requested readers also give a big shout out to Tony Era (pictured), who took on
to help you pass this level the role of being our roving reporter at the recent CIPFA
Free to subscribers who fulfil our
29CIPFA conference Reports terms of control Student Conference (page 29). Thanks for a great job, Tony.
from this years student event,
and meet all the award winners Annual subscription: 35 (50 overseas) Graham Hambly, PQ magazine editor graham@pqaccountant.com

No matter where, when or how you prefer to study,

our range of new complete courses give you...

Support Flexibility Confidence

Help when you need it most Study the way that suits you 94% AAT pass rates*
Were available weekdays until 8pm We offer 4 unique ways to study AAT, We always have exceptional pass rates,
(5:30 on Fridays) and weekends 9am-1pm so you can pick one that best so you can be confident of success
and you can get an instant answer fits your needs. when you choose us.
with LiveChat.

Proactive support Practice makes perfect UKs largest accountancy

For more in-depth guidance, you can With access to testing at every stage training provider
request regular progress reviews with of your studies, including 2 full marked Youll be in good company, because over
one of our tutors. mock exams, youll have everything you 45,000 accountants choose to train
need for exam success. with us each year.

Find out more about our new AAT courses

01908 540 067 kaplanfinancial.co.uk/aatcourses
*AAT pass rate of 94% based on overall Level 2 pass rates from Sept 14 - Aug 15
PREPARE FOR YOUR ACCA DECEMBER EXAMS
IN THE CITY OF LONDON.
LEARN FROM OUR SUBJECT SPECIALIST TUTORS.

2015 Lecturer
of the Year
PQ Award

BRIGITA PETROVA DAVID LAWS

ACCA Tutor ACCA Senior Tutor

Brigita is a law, management accounting and David is a noted strategy tutor who has taught
audit specialist. She engages her students by professional and strategic level papers for over
combining a positive and entertaining teaching 10 years. David is very personable and takes a
style with an in-depth understanding of the keen interest in the progress and success of his
subject matter. She is a very popular tutor. students.

CHOOSE FROM OUR FLEXIBLE STUDY OPTIONS.

DAYTIME EVENING
Study 6 days during the week. Study 8 10 evenings during the week
Start 25 September 2017. Start 25 September 2017.
 2013 Lecturer
of the Year
PQ Award

PAUL MERISON REGWANA UDDIN

ACCA Studies Director ACCA Tutor

Regwana has worked for LSBF since she qualified,

Paul has an in-depth knowledge of the ACCA drawing on her background of accounting and
syllabus and almost two decades of teaching teaching to provide students with an effective
experience. He has taught auditing in 20 study environment. She has become a firm
countries worldwide. favourite of her students.

USE PQ10 CODE FOR 10% OFF YOUR ACCA.

WEEKEND BOOK ONLINE AT
Study 4 weekend days before* or after exam results.
Start 23 September & 21 October 2017. www.LSBF.org.uk/SHOP
020 3535 1111

*Early start weekends are only available for some courses. Please check timetables before booking.

The offer is available for ACCA London courses only and ends 15 September 2017.
PQ have your say

email graham@pqaccountant.com

Im confused, CIMA! Helicon, the London office of the Helicon, which bodes well! Heres
I read with interest about the Association of International their official response to me about
ongoing debate over the CIMA UK Certified Professional THEIR cock-up: PQ magazine
Student Group. Was it or wasnt it Accountants. recently inquired whether the
an official group? I hesitate to say The message goes on to say CIMA UK Student Group on
it, but I think PQ magazine got it this is definitely a legitimate Facebook is an official CIMA
wrong! Facebook group for CIMA UK group. The response we provided
I have received this from CIMA: students, albeit run by the CIMA to PQ created some confusion.
It has come to our attention that marketing people (Im not sure The Association of International
a recent article published in PQ how healthy that is!). Certified Professional Accountants
magazine has brought into How did PQ get it so wrong, you manages 128 social groups
question the authenticity of this normally are spot on? supporting student and member
Facebook group. This is a regional Name and address supplied communities across the globe
Facebook group for CIMA The editor says: We got it wrong This closed group is facilitated by
students in the UK. The because when we rang CIMA they CIMAs UK marketing team and it
discussions and engagements are said no one knew of the group, so aims to help students engage with
facilitated by [CIMAs] UK as far as they were concerned it each other to share practical study
marketing team based at The was unofficial. tips and resources.
They dont appear to know what I think we best leave it at that,
is actually going on at The for the time being.

Our star letter writer wins a fantastic PQ memory stick!

Synoptic issues Say no to no
I have just sat the Level 4 synoptic options
AAT test and there still seems to be Does ACCA think that optional pass
problems with the AATs software. rates will improve once they take
At my test centre 10 computers away a choice of questions in the
went down at once, when there exam? I know this isnt going to be
was just half-an-hour to go. The introduced until September 2018,
tutors really need to be better but that will be about the time I hit
briefed about what to do when them, if everything goes as planned.
things go wrong, although they
have been put in an unenviable
I need As a quid pro quo, perhaps ACCA
could promise not to keep adding to
position by the AAT. pqjobs.co.uk the optional syllabuses. Maybe they
And our tutors seem to be as could even take something away!
disbelieving as us about how Name and email address supplied
problematic these test have The editor says: We would be
become. Sitting and waiting for happy to publish a response from
something to go wrong is no way to ACCA on either of the issues raised
sit an assessment! in these letters.
Name and address supplied
Is CIPFA ready?
No cheap wins I was interested to read your article
I have a real problem with your on CIPFAs new online learning
ACCA cheap wins article in the last (New virtual learning environment
issue of PQ. Are the ACCA really is here, PQ, August 2017).
I have genuine concerns about
the institute going down this route
after the well-documented problems
it had with the introduction of online
improves my chances by two seem fairly logical, something a exams.
percentage points more than good student should be doing. CIPFA really will have to work
watching the video, according to Come on, ACCA, provide us with hard to take its students with it on
telling us that taking a look at the the data you published. How good some more meaningful stats. A bit this one. Communication will be the
five minutes with the examining are these videos! Well, they are fine more insight into how to pass P4 key here, so come on CIPFA, start
team videos will really mean I am as far as they go, but I didnt feel I would be a start I dont want to talking to us and answering our
22% more likely to pass an exam? had greatly enhanced my chances resit that one a third time. emails.
Using approved content only of passing after watching one. They Name and email address supplied Name and email address supplied

PQ Magazine Unit 3a, Kingfisher Heights, 2 Bramwell Way, Royal Docks, London E16 2GQ | Phone: 020 7216 6444 | Email: graham@pqaccountant.com
Website: www.pqmagazine.co.uk | Editor/publisher: Graham Hambly graham@pqaccountant.com | Advertising manager: Polly Thrasivoulou polly@pqaccountant.com
Associate editor: Adam Riches | Art editor: Tim Parker | Subscriptions: dom@pqaccountant.com | Contributors: Robert Bruce, Prem Sikka, Carl Lygo,
Tony Kelly, Phil Gammon | Origination and print services by Classified Central Media
If you have any problems with delivery, or if you want to change your delivery address, please email dom@pqaccountant.com
Published by PQ Publishing PQ Publishing 2017
Ready for your ACCA
CBE F5-F9 September
2017 exam?
At BPP we have been teaching to the Computer-Based
Exam (CBE) format since September 2016, so if you
are sitting a CBE increase your chance of passing by
booking a Final Mock Computer-Based Online Live
course and be fully equipped for your exam. Now only
Our Final Mock allows you to rehearse for the big day by attempting
an exam-standard, new mock exam providing you with the chance to:
129 *

Practice on our replica software that includes scratch pad, online

calculator and formulae sheets
Save over 40%
Take and submit a CBE mock written by our exam expert authors on Was 220
our replica CBE software by 28th August
Receive your marked CBE with feedback from BPP markers
Attend an online debrief on 1st or 2nd September with an expert
tutor to understand knowledge gaps and how you can
improve your CBE technique
Leave the session with clear strategy and next
steps for your final exam preparation

Book your Final Mock today

03332 223 232
bpp.com/acca
*Terms and conditions apply. Offer available on CBE Final Mock Online Classroom Live course only. Offer ends 21.08.17.
PQ news

ROBERT
BRUCE FIVE YEARS TIME
PQ magazine
Over 160,000 accountancy trainees 30% of the total number of PQs
Cricket are still trying to get qualified five signed up to the ACCA.
shows the years after they started studying, CIMA is not far behind in the
way the
world is
according to the latest figures from
the Financial Reporting Council.
The UK accountancy bodies
EXCLUSIVE percentage stakes. Its five-years-
plus student total stands at 25.6%,
which translates to 32,124 PQs.
changing
have some 576,000 students students, so it is hardly surprising it CIPFA also has large numbers
studying for their qualifications, and has the most students not qualified still studying for its professional
The final of the Womens World
more than one in four (27%) of after five years. While last year accountancy qualification after five
Cricket Cup was an exhilarating
these PQs are still paying their there were nigh on 120,0000 years. The latest FRC data shows it
event. The vast television audience,
student subscriptions half a decade students still registered after five has 18.7% students in this group,
in part due to India being in the final,
after they started. years, this year that figure has gone thats up on the 16.4% for the
was a way of extending that joy
around the world. It is a long way The ACCA has the most up to 123,000. That is a whopping previous year. This amounts to 799
from the traditional view of womens CIPFA PQs.
TIME REGISTERED AS A PQ IN YEARS
cricket being an amiable eccentricity. Both ICAS and ICAEW have low
It is part of a much wider change. ACCA CIMA CIPFA ICAEW CAI ICAS numbers of students still studying
One persuasive argument when the <1 87,871 33,604 675 7,804 1,505 1,225 after five years, some 2.9% and
OECD was putting together evidence 1>2 69,223 22,131 845 6,804 1,425 950 3.3% respectively. CAI, the Irish
to help drive the number of women 2>3 52,738 17,580 1,165 5,180 1,391 840 accountants, have slightly more
into senior corporate roles was that 3>4 37,828 11,668 621 3,841 794 396 students in this position than their
for many companies women made up 4>5 34,897 8,273 149 1,294 515 215 counterparts across the water, with
the mass of the customer base. If the 5+ 122,809 32,124 799 863 704 109 a percentage of 11.1%, but that is
people driving corporate strategy TOTAL 405,376 125,380 4,254 25,822 6,334 3,735 down from last years 16%.
were overwhelmingly male the
company was unlikely to get its
strategy right. But times are changing. Time to end illogical
Part of this change is driven by the
old, narrow world of the finance
intangible asset rules Conference
The disclosure of intangible assets
function widening out and embracing
disciplines like sustainability, for
remains disappointingly low, with $35trn
(or almost three-quarters) of global
success
example. And when this happens on a
global scale, like the cricket, huge
intangible value not reflected in 2016
change is possible in a relatively balance sheets, says Brand Finance.
short period of time. A company like It explained that insufficient reporting
Unilever works right around the globe. of intangible assets leads to a host of
Awakening a market like India, for problems for analysts, investors, boards
example, can be life-changing, for the and shareholders.
company and the customers. Just as With little information on particular
the cricket reaches umpteen millions assets, analysts assessments are not as
in India simple products bring accurate as they could be, forcing
changes too. Health, hygiene and investors, in effect, to act with one eye
nutrition can be transformed. Unilever closed.
reckons that 70% of its consumers Brand Finance said this has negative
are women and that women reinvest effects on share price volatility, affecting
90% of income into their families. the stability and sustainability of The recent CIPFA national student conference in Manchester was a huge
Understanding the importance of that finance. hit. It takes place in conjunction with CIPFAs main annual conference,
as a means of empowering women Finally, the lack of real information which this year was entitled People, place, prosperity: preparing for
and social change is transformational. about the true value of assets leaves Brexit Britain. The CIPFA Student Network has a new President its
Robert Bruce is an boards and shareholders prone to agree Chris Roberts, Finance Business Partner (Projects) at Watford Borough
award-winning writer on to hostile takeovers or to sell individual Council. Does he remind you of anyone? That guy in Friday Night
accountancy for The Times assets at less than competitive prices. Dinner/Inbetweeners, perhaps? We bet no one has told him that before!

In brief
See into the future It really is leading insight extensive communications help turn a fail into a pass for
There is still plenty into what the future campaign featuring CIMA anyone re-sitting in September. On
of time to register your might hold for members, thought leaders and the same day there is another
place at our joint one- accountants. The day will government decision makers. The webinar on Developing that all-
day conference The be a fantastic chance to programme will focus on the important exam technique from
Future of Accountancy: network too. See page 14 importance of making good LearnSignals Peter Woolley.
Success in a changing for more details. decisions in business.
world, with London South Bank PQ wins nomination
University. ACCAs Alan Hatfield Dealing with the data deluge Free ACCA webinars PQ magazine has been
(pictured), executive director of CIMA has joined forces with You still have time to register nominated for the AIA Accountancy
strategy and development, has ITN Productions to produce a news for some great FREE webinars from Media of the Year award. We find
agreed to help us open the event and current affairs-style ACCA. You can join PwC out if we have won on 2 October at
on 23 November by looking at programme. Data Deluge & Academys Steve Willis for his the AIAs Presidents dinner and
some of the ground-breaking Decisions will premier on 26 session Advice to re-sitters on awards keep your fingers crossed
research undertaken by the ACCA. September and will form part of an Thursday 24 August, which aims to for us.

8 PQ Magazine September 2017

 STUDY ACCA ONLINE WITH LSBF
With our award-winning team of tutors, outstanding online learning platform,
comprehensive study materials and our pass-rst-time guarantee*, well make sure
you are on your way to ACCA success.

Book 3 papers, pay only for 2 (use voucher code 3FOR2 at checkout)

Choose our Live Tuition + Live Revision package and increase your chances
of passing rst time
Why should I book?
You are already saving 1,200 by combining tuition and revision papers in comparison
to other available packages

Get an extra 795 worth of savings when using this oer

Live classes mean real-time interaction with tutors and fellow classmates

Pre-recorded revision videos available 6 weeks before exams

Award-winning tuition and a pass guarantee*

* Terms & Conditions Apply.

ENROL TODAY
www.LSBF.org.uk/pqmag

studyonline@LSBF.org.uk
+44 (0) 20 3535 1274
PQ news

PREM
SIKKA CHOOSE TAX TO GET A PASS
The ACCA pass rates stats seem The P7 examiner stressed that THE ACCA JUNE EXAM RESULTS
clear: if you want to pass an Junes performance was again
Pitiful regs optional paper then make sure you disappointing, with too many
June 2017 June 2016
attract hot F5 43% 41%
sit the advanced taxation candidates seemingly F6 50% 46%
money to paper! With a 43% pass unable to think laterally or F7 48% 47%
the UK rate in June, P6 seems by apply the knowledge that F8 43% 45%
far the most passable of the they have learned. She is F9 46% 46%
optional papers. urging PQs to re-learn the P1 51% 48%
Two in three sitters are, basics of auditing. P2 47% 46%
To control money laundering, the
however, still failing the The Examiner Reports P3 54% 48%
regulators need to know the identity of
corporate owners and controllers. Yet other optional papers P4, may need to be looked at, P4 34% 40%
the UK lacks even the basic checks, P5 and P7. Despite all the as the examiners seem to P5 32% 38%
as shown by Italian investigations into added resources that the just be regurgitating what P6 43% 35%
the dealings of the Mafia. A well- ACCA has put together, plus the they said last time, almost word for P7 32% 32%
known Mafia boss was a director of other free online offerings, PQs just word. At three or four pages long,
Magnolia Fundaction UK Limited, a
Other June 2017 pass rates: F1
dont seem to be able to conquer the reports dont seem to be
company registered in 2006 with a 85%; F2 64%; F3 68%; F4 77%
these final papers. helping pass rates at all.
London address. The companys first

Intern woe
accounts for the year to 31 May 2007
show issued share capital of 60m
and net assets of 60m. In 2008, this Saving the world:
increased to 100m, but the company BPPs team of Almost all graduates who take
never traded. tax superheroes unpaid internships end up worse off
The company had a series of short- just seems to three years later than colleagues
term directors. In January 2010, grow and grow. It
Ottavio Detto IL Ladro di Galline who just went straight into work.
may be time for University of Essex researchers
became a director. Il Ladro di Galline
the Guardians of found former interns were earning
translates as The Chicken Thief. Il
Ladro di Galline stated his occupation
the Galaxy to on average 3,500 less than those
to be truffatore, which translates as move over who opted to work straight away.
fraudster. On 27 January, an Italian because the Tax The study also found that interns
entity Banda Bassoti Company became Avengers are were less likely to go on to
company secretary. Did it exist? here, all 14 of professional or managerial roles, or
Banda Bassotti is the Italian name for them be satisfied with their careers!
the Beagle Boys gang of crooks in the

Two the magic number

Donald Duck cartoons. The address
given for company was O0 Via Dei 40 Just one PQ decided to sit four
Landroni, Ali Babba, Italy 00100. The ICAEW professional papers in June.
address translates the Street of the 40 It wasnt a bright decision as that
Thieves, and there is no town called individual passed just one paper! two papers, and those sitting two at the June session, with 10,556
Ali Babba in Italy. Magnolia Most June sitters opted for one or
were the most likely to pass all the exams attempted. Thats an average
Fundaction was voluntarily dissolved
in 2011. Companies House always ICAEW PROFESSIONAL RESULTS JUNE 17 papers they sat, with of 1.8 papers per sitter. Some 3,500
a 77.2% success PQs sat their exams at a computer
accepted all its documents. All First attempt rate. The paper with terminal, and in September both the
Politicians may huff and puff, but Audit & Assurance 81.8% 83.0%
this is shameful regulation as the best pass rate Financial Management and Financial
Business Strategy 89.0% 90.3%
governments prioritise laissez-faire was Business Accounting & Reporting papers will
Business Planning: Tax 79.3% 80.9%
over public accountability and Strategy, with an move over to CBE.
Financial Management 87.4% 88.7%
enforcement. Unsurprisingly, the UK is FA & Reporting UK GAAP 81.9% 82.5% 89% pass rate. First PwC students dominated the
an attractive destination for hot money. FA & Reporting IFRS 78.0% 80.1% timers to this paper prizes with Emma Stevens, Mihir
Tax Compliance 78.5% 80.4% managed a success Patel, Laura Bushnell and Jolyn Tan
Prem Sikka is Emer itus rate of over 90%. In picking up prizes. Lloyds Banking
Business Planning: Banking 85.4% 83.1%
Professor of Accounting all, some 5,890 Groups Sarah Nazar managed to
Business Planning Insurance 78.7% 79.2%
at the University of Essex students sat exams stop a PwC clean sweep.

New partners for EY reappointment came just weeks after Mitie had Treasurys coffers. Fuel duty currently accounts
EY has announced that 669 said in its annual report that it had dismissed for 4% of the UK tax receipts, and will bring in
people globally have been the accountant. Deloitte has been Mities nearly 28bn this year. Nicolson stressed that
promoted to partner status. auditor for some 30 years and the company is environmental policy cant be dictated by tax,
For the third year running, undertaking a tender process as we speak. but it will mean the government will need to
partners from emerging The FRC has now opened an investigation into find alternative sources of revenue.
markets represent more than a third of all Deloittes audit of Mities financial statements,
partner promotions, making up 36% of the which will look to see if there were breaches of UK prepared for change
total. EY has also continued to accelerate its requirements in relation to the statutory audits The latest KPMG Global Change Readiness
commitment to gender diversity, with women of the consolidated financial statements in the Index places the UK as the nation 10th most
representing nearly 30% of this years partner years ended 31 March 2015 and 2016. ready for change thats up from 13th place.
class. That puts the UK just one behind Germany
Another tax gap (ninth) but ahead of global leaders like the US,
Protest over Deloitte comeback The ban on new diesel and petrol vehicles Hong Kong and France. KPMGs head of
Almost 30% of Mitie shareholders recently from 2040 will sound the death knell for fuel Brexit, Karen Briggs, said this study reminds
objected to the reappointment of Deloitte as duty revenues. This, says PwCs Kevin us not to lose sight of the UKs potent global
auditor at the cleaning companys AGM. The Nicholson, will leave a big hole in the strengths.

10 PQ Magazine September 2017

Be ambitious.
September 2017 start
BA (Hons) Accounting and Finance
Top-up BA(hons) Accounting and Entrepreneurship
Two year completion route for AAT Level 4 or ACCA F1-F3 holders
AAT qualications may enable direct entry into years 1 or 2
No 3 UK wide for student satisfaction (Complete University Guide league table 2017) Accountancy
No1 London University for Career Prospects in the area of college of the year

Accounting and Finance (Guardian league table 2018)

No 4 in the UK Overall and No 2 No 1 UK university for

for Satised with Teaching in the Student Experience
area of Accounting and Finance Sunday Times League Table 2017 in
(Guardian league table 2018) the area of Accounting and Finance

0800 923 88 88 Guaranteed halls accommodation during your first year*

Central London Location
Course.enquiry@lsbu.ac.uk Free gym membership
Free Microsoft Office 365 and SPSS software
www.lsbu.ac.uk/pq Up to 9 exemptions from professional body examinations**

Numerous accreditations and professional links

*Southwark Campus only. Conditions apply, check online. **9 for ACCA, 7 for ICAEW and 5 for CIMA
PQ news

ZOE
ROBINSON CIMA pass rates CIMA OT pass rates 1/7/16 30/6/17

E1
Overall
88%
First time Total
77% 75%

holding steady
P1 68% 49% 45%
F1 84% 72% 68%
Practice E2 94% 86% 84%
does not P2 75% 52% 46%
always make CIMAs new pass rates have been is not where the most difficult F2 78% 54% 50%
perfect released, and the OT and case subject matter is. He felt if PQs are E3 83% 68% 65%
study success rates are showing no working for SMEs they can bring a P3 78% 58% 52%
sign of slippage. lot of practical experience F3 79% 58% 53%
While the current P1 first- to these papers.
Many people are familiar with the time pass rate hovers at The May 2017 case He said: My advice is that when
10,000-hour rule, explored by 49% (the lowest of all study pass rates are you are working through the OTs
Malcolm Gladwell in his book, papers), the P2 pass rate all up on February you must always have the case
Outliers: The Story of Success. The continues to climb and 2017, although at study in mind. You will need to
idea is that anyone can achieve
now stands at 52%. The 47% the operational integrate all three papers into the
world-class expertise in any skill if
first-time pass rates for the E case study stands out case.
they put in enough practice 10,000
papers all look good, and for E2 for the wrong reason. CIMA also released the pass
hours of it, in fact!
they are a whopping 86%. Flatman revealed that the second- rates for the new-look, four-paper
In a recent Freakonomics Radio
podcast Anders Ericsson, Professor of CIMA exam chief Steve Flatman time takers of the operational case Cert BA for the first time. Again,
Psychology at Florida State University, (pictured) admitted that the E pillar had a good pass rate in May, but Flatman was extremely pleased
argued for a much-needed extension acknowledged with the results (see online at
CIMA CASE STUDY FEBRUARY 2017 EXAM PASS RATE
to Gladwells theory, reasoning that it that CIMA may www.pqmagazine.com). We are
May 17 Feb 17 Nov 16 Aug 16
is the quality and nature of practice have to reinforce very pleased and the pass rates are
Operational 47% 45% 67% 64%
that drives results, not just the the resources all very comparable to the old
Management 73% 62% 71% 71%
accumulation of hours. He outlined available at results. Overall, they are in fact a
Strategic 66% 64% 65% 63%
purposeful practice, where you pick CIMAConnect. little higher, he said.
something specific you want to

Female AAT students ACCA enjoys 5.5%

improve and find a training activity to
allow you to do that. Rory McIlroy
doesnt improve his game simply by
membership rise
enjoy bigger earnings
playing more rounds of golf. He will
focus on a specific aspect and The ACCA has strengthened its
practise that over and over again. global reach with a 5.5% increase
Prof Ericsson also described Shock news! There is one working in London being paid on in membership. It now has nearly
deliberate practice, where you are
accountancy professional body average nearly 50% higher than 200,000 members (the current
guided by a teacher with experience
where women earn more than men those working in the North East of figure is just over 198,000) and
of established training techniques
at both student and affiliate level. England. Thats 34,000 versus 486,000 students worldwide.
who can provide feedback on what
That body is AAT. So while there 23,000. ACCA CEO Helen Brand (pictured)
adjustments you need to make.
Importantly, he is clear that is a small gender pay gap (2%) for AATs Andrew Williamson said: said: During 2016/17 we have seen
improvement comes from stepping AAT members in favour of men, It is interesting to see that women a number of major initiatives come
outside your comfort zone. Its when it come to the student level appear to be earning more than to fruition from our strategic
generally not enjoyable you need to women earn 9% more than their men at student and affiliate level. alliance with CA ANZ to
push yourself hard and force yourself male colleagues. The difference is Despite this, we can also see the launch of our ground-
to make mistakes so you can find not so pronounced at affiliate level, that men are still out-earning breaking Professional
ways to eliminate them. Although we but it is still 5% in womens favour. women at full and fellow member accountants the future
often read that it should be fun, like The 2017 AAT Salary Guide and levels. This would appear to show research, which examined
many things it involves sacrifice, Career Survey found the average that women are still not progressing the prospects of the
effort and hard work sorry. salaries for AAT student members into the highest positions within the accounting profession.
in full-time work have increased by organisations they work in, or that She went on to explain the ACCA
Zoe Robinson is Learning and 2% from 2015 to 18,870. they are not earning as much as has announced major future-proofing
Programmes Director at
There are big differences their male counterparts when they changes to its qualification based on
Kaplan Financial
regionally, too, with members do. these findings.

In brief
Editored honoured and read on Volow. Volow is a of qualifying, according to new
PQ editor Graham Hambly browser-based eBook reader, which research from CABA. Of those
was recently awarded honorary also offers an eBook subscription looking to switch roles, 55% said
membership of the Association of servivce. With it you can buy they wanted to move into a more
International Accountants at a individual eBooks or subscribe to a general business environment, and
special members reception at collection of titles for a monthly fee. this didnt necessarily mean as a
Marlborough House, Pall Mall, Everything is stored in the cloud. A practising accountant. Less than
London. He was one of 28 new business, finance and accountancy full suite of revision question banks one in three PQs said they wanted
honorary members, who included professions. Hambly received his (RQBs) are also now available from to stay working in accountancy
journalist Robert Peston, and Dame award from AIA President Les EWI for the 2017-18 ACCA exams. practice. The charity and public
Margaret Hodge, MP. AIA CEO Phil Bradley. sector were almost as popular, but
Turnbull said all recipients of the ACA PQs itching to leave the vast majority (64%) want to
honorary membership have made, Follow EWI on Volow Some 63% of ACA students work in big business. CABA is a
and continue to make, a significant EWIs essentials and ACCA said they would consider leaving charity supporting the wellbeing of
contribution to their respective texts are now available to download their current employer within a year chartered accountants.

12 PQ Magazine September 2017

 news online PQ

AAT achievers forced to make Whats new at

costly trip to London awards
AAT PQs want to know why there is now
just one Achievement Ceremony in the
pqmagazine.com
Theres loads of great articles online that we dont
UK, which is held in London. have space for in the magazine. Check them out!
Invites recently went out to PQs who
have become affiliates (passed all their NEWS Our pocket guide to all
exams) and to those who have become Lots of news goes straight the IFRS, brought to you by
full members. on to our home page. Its the IFRS Foundation
However, many AATs said they were where the CIMA and ACCA How to pass CIMAs P3
struggling to justify the huge expense of results appeared first this and F3 exams
attending an event in the capital. Two month. There are also June ACCA Examiner
adult train tickets to attend the London stories and analysis that Report summary
event cost one AAT 241. dont get in the magazine, ACCA examiner
PQ understands that the AAT used to including Are the ACCA workshops direct form the
run events in Glasgow, Birmingham and examiners reports still ACCA global learning
Manchester, but these no longer take working for students?; providers conference
place. The lure of an AAT pen was just Landlords dont like young How to choose your AAT
not enough for many AATs who asked: tenants; Graduates down tax options
Why is there not a northern event? The AATs PQ spoke to said that more 51m due to delays; and Appropriate audit
The AAT confirmed that it only has a localised ceremonies at local groups Behavioural science key to procedures
London ceremony now, although it also would be better. They would also help tax revenues. And lots more
has one in Botswana, too. create networking opportunities.
STUDY ZONE CAREERS ADVICE
Remember, the study zone PQ magazine is all about
Are you exam ready? Not sure? is the best place to find all
the articles that have
exams and careers, because
that is what you want!
Then test yourself by going to appeared in the past year Check out the zone to help

www.pq-go.com
and some that dont! deal with interview failure
Recently added stories and how to become a
include: partner in your twenties.

Use your achievements

to become an ICB Member
Your qualications with AAT, ACCA, CIMA or another
professional body could qualify you for membership
with the worlds largest bookkeeping organisation.
If your qualications were achieved within the last
2 years you can apply for exemptions with ICB and
become an ICB bookkeeper gaining access to:

Professional recognition
ICBs extensive National Branch Network
The worlds largest bookkeeping community
The opportunity to apply for an ICB
Practicing Licence
Free legal and technical advice

For more information please call

0207 856 2567 or email us at achievemore@ICB.org.uk The Institute of
www.bookkeepers.org.uk Certied Bookkeepers

PQ Magazine September 2017 13

 For accounting professionals of any seniority
working in all sectors.

Expect expert speakers from leading accounting

bodies and organisations, touching upon topics
such as careers, technology in the accounting
space, and the impact that digital is having on
the industry.

Speaker topics and areas:

Digital accounting: sage and big data
Career enhancing: how to get headhunted,
skills for today, your personal brand
Employer focus: apprenticeships, skill sets
for today, wellbeing of staff

This is a free to attend event, but we encourage

National accounting conference you to sign up today, as spaces are limited
and are expected to sell-out quickly.
23rd November 2017
For more information please visit
9am-7pm
www.lsbu.ac.uk/whats-on
Keyworth Centre, LSBU
In association with PQ Magazine
Sign up today

Finish 2017 strong!

You only have one
more exam sitting
left before the end
of the year.
Standard entry
deadline for
December exams
closes on the
30th October.

Find out more: www.accaglobal.com ACCA.UK

 ACCA CBEs PQ

D Should you switch

ecember 2017 will be the last
time UK students will be able
to attempt F5F9 as paper-
based exams, ACCA has announced. You

straight to CBEs?
may, however, be questioning whether
you should move to CBE now or wait for
the compulsory introduction in the March
2018 sitting.
CBEs have many advantages:
They simulate your work environment
more closely than a paper-based exam Rebecca Evans discusses the pros and cons of both paper and CBE exams
as you type answers into a word
processing screen or spreadsheet rather
than having to write them on paper.
There are no problems with messy
handwriting or poor presentation.
Markers of handwritten papers often
have trouble reading candidates
handwriting and if it cant be read they
dont give the mark!
You can cut and paste to restructure
your answer and if youve forgotten to
write something you can easily go back
and add it in, without having to leave the
marker a message where to find the rest
of your answer.
The days of a sore arm at the end of
an exam is over because with a CBE you
dont have to write.
Calculations can be quicker and easier
using formulae in the spreadsheet
answer boxes rather than manually
having to type lots of numbers into your
calculator. The copy-and-paste function
can also be used in spreadsheets to save
valuable time.
However there are some drawbacks:
You will be facing a slightly longer
exam at three hours and 20 minutes, Go to www.accaglobal.com and have a However, if you are coming to the end
The exam includes objective test look at the resources that are available of your Skills level studies and feel
questions rather than just multiple choice for the subject you are going to be sitting nervous about changing your approach
questions (MCQ), so you may have to next. then stick with paper. Currently, no date
actually input a number rather than Tuition providers are also providing has been announced for the Professional
blob an MCQ. more online resources in terms of online subjects to move to CBE, so its more
Reassuringly, almost all the students I question practice and mocks within part than likely you will be sitting your
have spoken to about their CBE of their standard course. Kaplan and Professional exams on paper and wont
experiences have positive stories and are BPP have both written CBE mocks for have to get used to CBEs.
converts to CBEs. Dont forget that the additional question practice that Whether you choose paper-based or
essence of the examinations are the students, irrespective of their tuition computer-based exams in September
same: they test the same learning provider, can purchase for a small fee via and December, remember the style of
outcomes. a link on the ACCA website. exam isnt going to make a fundamental
There is also lots of support out there My advice is to take a simple difference to your exam performance.
to help you transition from paper to approach. If you are just starting out on Only you can influence your exam
computer. ACCA has provided a wealth the Skills level and will still be studying outcome through proper exam
of specifically designed resources this level in March 2018, then Id preparation and question practise. PQ
including specimen papers for each recommend you attempt CBE as soon as Rebecca Evans, National ACCA and
subject, exam technique videos, CBE possible you will have to get used to it CIMA Product Manager, Kaplan
question debrief videos, and much more. in the end. Financial

PQ MAGAZINE
Sign up online for your free copy of

PQ magazine
GOES GLOBAL
Sign
Goupto
forwww.pqmagazine.com
the Emagazine and read PQ magazine
no matter
simplywhere
clickyou
onare
theonline.
online.
free Go
Goto
to button
mag
www.pqmagazine.co.uk and sign up for FREE today
PQ Magazine September 2017 15
PQ corporate trading losses

Dealing with a loss

3. Carry forward
Any remaining trading loss is carried
forward automatically. The brought
forward loss can only be set off against
the first available future trading profits

C
ompanies can make trading from the same trade. As much loss as is
losses. These could arise possible must be offset. The deadline for
because a company made an making the current year and the carry
accounting loss, so the profit before tax back claims is two years from the end of
figure is actually a loss before tax. the loss making period.
Alternatively, a trading loss can occur due Both the current year and carry back
to the adjustments to profit calculation are claims, so they are choices, the
turning an accounting profit into a trading company does not have to use the loss in
loss for tax purposes. For example, if this way. However, if a company does
there is only a little depreciation to add want to do the carry back claim, they
back but lots of capital allowances to MUST do the current year claim first. The
deduct a trading loss can arise as a carry forward of unused losses is
result. automatic.
A company can use the trading loss to Most companies want to use the loss to
reduce its other profits and hence pay save tax in as early a period as possible.
less tax overall. Here we shall have a look Why wait and carry the loss forward for
at how the company can use these future relief when it can only be set off
trading losses. Victoria Cavell explains how companies against trading profits? The company
Companies are quite straightforward, would have to be very sure it was indeed
there is a set order for using the loss as can use trading losses to their advantage going to make trading profits in the future
follows: to get use out of the loss. So our path for
2. Carry back claim trading loss relief is clear current year,
1. Current year claim The loss can be carried back and used carry back, then carry forward.
First, claim to use the loss against all against all other profits arising in the For further information on these trading
other profits (before offsetting qualifying previous 12 months (before offsetting loss reliefs for a company refer to s37
charitable donations) in the period of the qualifying charitable donations). Again, and 45 CTA 2010. PQ
loss. This is an all-or-nothing claim, so in this is another all-or-nothing claim, but Victoria Cavell is a tutor at Tolley
other words either all of the loss must be can only be made AFTER the current Exam Training, part of LexisNexis. She
offset or the profits must be reduced to year claim. So the order is set: current can be contacted on 020 3364 4500
nil. year claim first, then carry back. or examtraining@lexisnexis.co.uk

A leading
qualification for
a changing world

Were redesigning
the Professional
level of the ACCA
Qualification

Why? To ensure that the qualication is as relevant as possible,

so that ACCA professionals continue to be the most valued
and sought-after across the globe.

You will see the rst changes introduced from October 2017 with
the introduction of the new Ethics and Professional Skills module.
This sets the scene for the rst sitting of the new Strategic
Professional examinations from September 2018.

Find out more and start planning for the changes now: future.accaglobal.com/changes-to-the-qualication

16 PQ Magazine September 2017

Computer-based exams: guidance
and support for ACA students

Online support

The ACA Professional Level exams have Exam guide

started to move to computer. Series of short webinars

The ACA Professional Level Audit and Assurance and Sample exams using the new software
Tax Compliance exams are now computer-based Question banks within the new software
only. From September 2017, Financial Accounting
Find these resources and more information on
and Reporting and Financial Management will also
key dates, how to book your exams and access
move to computer.
arrangements at icaew.com/cbe
Heres an overview of the guidance and support
available to help you prepare for these exams.

icaew.com/cbe
PQ annual reports

HOWS YOUR BODY

Yes, its that time again folks CIMA On page 21 we are told acquire refers
You open the page to CIMAs to the cost of attracting new students,
annual report time. Here is annual report 2016 to an image but that doesnt help 7/10
what we found for you of Mr Messy, but we were still
hoping the microsite was going CIPFA
to give us the information we Thanks you, CIPFA, for listening finally
AAT needed. we know exactly how much the CEOs
The AATs slogan this year is: Were There is lots of use of talking salary is! We have been campaigning for
achieving our goals by helping you pictures but we went straight years for this to happen and here it is at
achieve yours. So are they living up to to the KPIs. So, has CIMA last. Its not something to dwell on, we
the claim? Well, membership is up to over instilled pride in CIMA and the just wanted to know, and thought others
140,000, a 3.5% rise. Last year (2016) CGMA designation with you? had the right to know, too its about
also saw a 6% year-on-year increase in Have you been inspired to act transparency and fairness.
the use of its student online resources. as an advocate for the Looking at the accounts there has
Student numbers are also looking good profession? been a deterioration in the balance
and the AAT has over 84,000 students CIMA admits it missed its new sheet, mainly due to a 15.6m increase
operating in 90 countries. student target with 33,607 in the FRS 102 pension reserve.
We really liked the interview style (35,300 was the target), but new Group income came in at 23.62m, a
approach with CEO Mark Farrar and members hit 4,958 (4,350). reduction of 3.52m year-on-year. And
President Mark McBride. Farrar tells us Total income for 2016 was 56.7m, up with costs going up to 25.53m, this all
that new student registrations rose by 1.4% 5% on 2015. The plan for 2017 is for led to an operating loss of 1.9m.
(to 27,980); however, there has been a another 3% growth spurt to 58.3m. The income statements show that
decline in members completing Level 4. However, after all its spending CIMA was CIPFA receives 20.8% (4.9m) of its
New full member numbers for 2016 was left with an operating deficit of 4.4m, up income from E&T of student members.
2,608, which is down from 2,889 in 2015. on the deficit of 1.9m a year previously. This is offset by the 28.1% (7m) of
In 2012 this number was 3,915. The fall in sterling didnt help here. income it spends in the same area.
The AAT is looking overseas for There was a drop in the student We are told that 2017 will see a further
expansion and its new markets in 2016 population for the second year in a row. reorganisation of staff and wider
include Singapore, Malaysia, Bulgaria, But exam and exemption income grew by organisational development.
Dubai, Pakistan and 8% to 13.4m. This, says the President Brian Roberts explains that
the Cayman Islands. report, shows that as there has been
Its hardly surprising confidence in the new a rapid growth
that international assessment platform in international
new student increased there was greater membership
numbers were up student activity. and student
23%. Despite the overall drop in numbers,
Bretix also gets a the student population new particularly in
mention, with Farrar student numbers grew by Nigeria and
saying he feels 33,604 in 2016. Malaysia. He
bullish about it: CIMA reveals that during admits that the
When change like 2016 its assessment platform year has not
this comes along it delivered almost 108,000 been without
can also be a big exams; it is targeting 115,000 its financial
opportunity. assessments in 2017. challenges for
Total income rose CIMA now has 106,095 the institute,
to 28,974,000, and members, thats 3% up and with growth in
a net income of has a retention rate of 99%. some areas of
2.17m was achieved. With the help of a director at CIMA we the business falling short of expectations.
Student and affiliate members fees managed to work out what the new CEO There is lots of good news too,
amounted to 8.65m, compared with the is paid. Charles Tilley was replaced by however, which bodes well for the long-
6.85m raised from full members subs Andrew Harding part way through the term. Student number are up by a
and fees. year. We took five months of his salary healthy 400, CIPFA and ICAS launched a
The accounts reveal CEO Mark Farrar and then worked out how much this joint-accreditation scheme, and there is
received 179,000 in pay and benefits, would be for 12 (simple!). So Hardings the little matter of the contract to deliver
up 5,000 on the previous year. The ratio salary is 242,000. the London Counter Fraud Hub.
of CEO pay to lowest paid employee is We would, however, like to see names Oh, and that salary for Rob Whiteman?
one to eight. next to the job title in future. It is 259,116.
Core membership: 140,135 (2015 Members:106,095 (2015 102,942) Members: 15,400 (2015 13,960)
135,369) Students: CGMA and student population Students: 4,458 (4,092)
New core students: 27,980 (27,605) 281,467, of which 106,095 are CIMA Staff: 275 (274)
Staff: 249 (235) student members (279,137) PQ SAYS: We loved this one, but think
PQ SAYS: AAT always produces a strong Staff: UK 269 (258); Outside UK 189 CIPFA will have to look at the design.
report and we felt it was about time we (201) Reading the report online is difficult if the
acknowledged its consistency, so this PQ SAYS: Sorry CIMA, we cant get used report has been designed in a hardcopy
years winner 8.5/10 to acquire, deepen, retain and fulfil. format 8/10

18 PQ Magazine September 2017

 annual reports PQ

Y DOING?
ICAEWs operational income was a cool Expenditure rose by just under 1m
100m. That is 3m up compared with (900,000), or 5.7%, and it was digital
2015, and its operational surplus was activity that drove this investment.
0.8m (0.3m). If CA education brought in
you look at 6.6m and paid out 4.3m,
qualifications income leaving an operating profit of
and expenditure you 2.3m.
ICAEW see a net profit of ICAS welcomed 716 new
Before you even start reading the annual 2m in the accounts. members in 2016, which took
review you are told 2016 proved to be Finally, Michael membership over the 21,000
another very successful year! We are also Izzas pay. The CEO mark (up 2%). Some 1,048
told 2016 was a year of surprises. was paid 570,000 new students also signed up.
Thanks, ICAEW, most of us were paying in 2016, a rise year- Due to the nature of its
attention, too. Against this backdrop a on-year of 16,000. business the Big 4 are ICASs
record number of students again started Members: 147,538 largest customers. It receives
training and membership numbers were (2015 145,746) 16% (3m) of its income
also up, so it looks like they have been Students: 25,822 from EY, 10% from KPMG,
successful after all. (24,149) 4% from PwC and 3%
Last year saw an ACA Staff: 724 (711) (534,000) from Deloitte.
student intake of 8,319. PQ SAYS: A nice CEO Anton Collela was
Thats an increase of 63 over report and you can find most of what you obviously deemed to have had a good
the 2015 previous record of want. Another strong year 8/10 year. His pay was 416,000 and
8,256. included a bonus of 105,000.
Total ACA student numbers ICAS Members: 21,388 (21,152)
at the end of 2016 stood at ICAS has stuck to its principle of not Students: 3,869 (no figure last year)
25,822 (24,149). In addition, making the annual report too long. This Staff: 144.1 (142.2)
5,620 (5,542) students year it comes in at 34 pages, so there is PQ SAYS: We know ICAS loves it digital,
signed up for the certificate in no excuse not to give it a quick look. but it means you have to go on a hunt to
Finance and University Last year saw revenues grow by 7.9% find all that you need its not all in one
Scholarship Schemes. to 16.8m. This was driven by growth in place and if we didnt know any better
Membership grew to education and in membership income. we would think they are trying to make it
147,538 and it wont be too All this meant that ICAS returned a difficult for us! 7/10
long before the ICAEW breaks surplus of 340,000 (170,000) after NOTE: The ACCAs Annual Report is not
the 150,000 barrier. We are provision of 187,000 for further costs of due to be published until later this year
predicting 2019. FRC cases. we will review it when it is out

Youll never guess what I heard...

MSc Accounting
and Finance
Robert Gordon University
(Top Up Distance Learning)

Top Up your This online Masters incorporates a

Dissertation Project and can be completed

professional in less than a year

Entry Requirements: Members of

qualication and Professional Accountancy bodies such as
CIMA, ACCA, ICAEW or equivalent
study with a Gold
Other undergraduate degree options include
rated University for the BSc Accounting Top-Up for students
holding the CIMA Advanced Diploma
Teaching Excellence Enquiries and Applications to:
Keep up with the latest industry Start dates Jan 18 and Sept 18
MScAccCIMA@rgu.ac.uk
BScAccCIMA@rgu.ac.uk
news follow on Twitter
@pqmagazine
PQ Magazine September 2017 19
PQ ethics

Making it all add up to

an ethical future
Dorothy Wood outlines how
organisations are being
judged on more than just the
numbers and where you fit
in to the new world order

T
he FTs Lucy Kellaway wrote an
excellent article earlier this year
called There is nothing cute
about innumeracy (FT, 7 May 2017).
The angle was that innumeracy is not a
loveable quirk, but something stupid,
shameful and, if you have a position of
responsibility at all, it is dangerous.
I am sure many PQ readers who read
that article felt proud of their numeracy
skills and their love of numbers. For
accountants, its not just numeracy and
the ability to make sure it all adds up
literally that are needed to succeed. Its
important to possess other skills, too
strategic insight, excellent
communication skills to explain the
narrative about the financials, great risk how much tax they pay back into society otherwise be unattainable. Society is built
management with a keen eye on future is growing in importance. Also, how they on business, and business is built on
developments and, importantly, an make those profits, and divide up what trust.
ethical and professional approach are all they havent paid in tax, is a focus. The The speed and size of modern markets
needed. EU is bringing in a raft of non-financial and transactions cant change the
The business ethics dimension has reporting disclosures on everything from underlying reality that society is made up
come under the spotlight on numerous board diversity to human rights. The rise of humans, some trustworthy, some
occasions. There are many examples of of the integrated report ACCA will trusting, some neither. Society still needs
organisations that have focused on publish its sixth report this year and the assurance that the individuals managing
financials far beyond a positive influence focus on the triple bottom line reflects and controlling the flow of productive
and lead themselves towards path to the need of stakeholders to better capability are doing it not just in their
global disaster. understand the motivation behind the own interest, but with the broader good in
The focus on meeting numerical numbers, and where they might be mind. Accountants are indispensable for
targets has lead to well-known business leading. giving investors that trust in business.
scandals. Recent examples are Toshibas So of course numeracy matters, but so However ethically pure an
accounting issues and Volkswagens does the narrative and strategic insights organisations motives are, it wont survive
diesel engine emissions troubles. While behind them. In this changing without a realistic view of the numbers
they seem to be very different affairs, the landscape, the question is how are and how they fit into the supply chain
underlying issues are similar set an accountants supposed to respond? and thats a view that has to come from a
apparently impossible target, which What we cant ignore is that society trained and experienced mind.
means rules are bent or broken simply to wouldnt exist without business. From the The world needs ethical and
disclose figures at one point in time that very first time someone realised that if professional accountants, taking the
superficially make the grade. you measure and record the grain going wider view of business that society
And the pattern repeats on a global into the granary then you can identify, demands. Nothing can take the place of
level. Countries are ranked by GDP and allocate and trade the surplus. This was that ability to work with the numbers and
yet eternal exponential growth, which is when we became reliant on numbers. to be able to explain them. What
what focusing on GDP entails, will break Fast forward a couple of thousand accountants need to do now is show how
the planet. So what are we going to years to the development of corporate their talents and training fit into the
measure instead as our target if business that now underpins our modern modern economy in a way that no other
financials are not enough? world, and methods for monitoring the skillset or automotive process can
The change is already coming behaviour of owners and managers has emulate. PQ
businesses are now being measured on opened up opportunities for Dorothy Wood, Head of Education,
much more than the profit they make; achievements and returns that would ACCA Europe

20 PQ Magazine September 2017

 You ask. We listen.
P
Award-winning Personal Pass Promise Price Match
e-learning tutor support We will tutor you until you Find another provider that
Benet from Instant access to ACCA, FCA pass. (Students must be
interactive videos and and AAT qualied tutors via actively and continuously marked assignments, mock
our innovative individual phone, email, Skype, Twitter studying. Please see our exams and e-learning tools,
learning programme. and our learning portal. T&Cs for more information.) and we'll match their price.

AAT Distance Learning Training Provider 2017 Our winner was able to demonstrate a huge amount of
support for their distance learners. They have worked hard to
ensure that studying via distance learning doesnt have to be a
lonely experience.

From tutor, career and online support, they were able to

demonstrate how they really go the extra mile for their
students. The submission was passionate and included
outstanding student testimonials, examples of their visual
study tips as well as their Accounting catchphrase game!

The winner of Distance Learning Provider of the Year is:

Premier Training Mark McBride (AAT President)

Prices start from 299!

See our website or call our friendly course advisors for a full range of courses and fees.

01469 515444 www premiertraining.co.uk Live chat

PQ magazine
Enrol anytime of the year
AWARDS Study at your own pace
Training Provider
AWARDS 2017
Training Provider
AWARDS 2016
Training Provider
AWARDS 2015
Training Provider
Awards 2014 2014 Direct tutor support
Winner Winner Winner Winner
WINNER
Distance Learning
Provider of the Year
Distance Learning
Provider of the Year
Best use of e-learning Best use of e-learning Award winning
Study Resource of the Year
PQ CIMA spotlight

Put yourself to the test

What sort of a learner are you? If you answered mostly B: You love learning and
enjoy studying for its own sake, you are likely to
Jackie Durham has devised a light- use a deep learning approach. This is a great
hearted quiz that might help you way to study but for professional exams it can
mean you get a bit bogged down in the detail or
focus your studying! distracted by the bigger picture. It might take
you longer to progress as you feel you need to
1. When you sat your first Objective Test exam know everything there is to know about every
did you feel: aspect of the topic and how it links to everything
A. Fine, there were no surprises and it went well. else before you feel confident to enter the exam.
B. Generally OK, not quite like you thought but Hold onto your love of learning, but make sure
do-able. you plan your time so your studies are focused
C. Confused, this wasnt what you expected. and book that exam so you have a deadline to
D. Nothing really, I didnt know what to expect. work to!
E. I havent sat an exam yet, I dont feel ready. If you answered mostly C: You are most likely a
surface learner. You want to crack on and get
2. When you are reading up on a new topic, do the exams out of the way so that you can get on
you: with the job of being a management accountant.
A. Follow a set plan, read, make notes, test You may feel irritated with the new assessments
yourself, review, repeat. because they require you to study every aspect
B. Want to really get into it and know everything of the syllabus. Your approach might have been
there is to know about the topic. successful in your previous exams, but for the
C. Dont bother with a lot of reading, you like to CIMA 2015 assessments you need to adopt a
get straight into question practice. wider, deeper but still focused approach.
D. Focus on the facts and figures, you love Become an organised learner (see A, above)
tables and formulae. and dont rely too much on question practice as
E. Feel overwhelmed, you never know where to D. I dont understand why I failed. Help! exam preparation.
start. E. I havent failed except failing to book an If you answered mostly D: You may have a
exam. tendency to focus on rote learning, trying to
3. Overall, how do you feel about studying cover all the facts and theory, but perhaps not
CIMA? 5. What study techniques do you think work fully understanding their application. This may
A. I want to do well and pass with good grades, best for you? cause you to struggle as you progress and/or in
but Im not that bothered about the actual A. I always need a plan, I think of it as the case study exams where an integrated
studying part. preparing to pass and it works for me. approach and broad understanding across the
B. I love it, I love studying and exploring B. I like to study broad and deep so that I feel I syllabus is required. If you are a self-studier, use
concepts and putting them in context. am thoroughly prepared and really understand the new CIMA self-study guides to plan your
C. I enjoy it although its hard sometimes; I just each topic. studies and help you become an organised
focus on one subject at a time, pass and move C. I do lots and lots of question practice from learner who plans for and achieves success.
on. day one. If you answered mostly E: You need to review
D. Im not that interested in the studying side of D. I dont have a particular technique, I try to your whole approach to your CIMA studies and
things, I just want to be a qualified management learn all the facts and figures for the OTs though! remind yourself why you are doing them. If
accountant. E. I think I need a study technique. youre not sure about that, maybe a full-scale
E. Not always sure why Im doing it, I just want it career review is required. If you are struggling to
to be over! What do your answers say about you? get started, dont worry. There are lots of
If you answered mostly A: You are an resources to help you on the CIMAconnect, you
4. If you fail an exam whats your approach organised learner, you take a very strategic just need a plan. Our self-study guides are a
next time around? approach, planning and preparing to pass. You great place to start, theres one for each OT on
A. I havent really failed so far/failed only one. might not find every subject easy, but you have CIMAconnect. Most of all book an exam so that
B.I go back and study everything again, in a disciplined approach that means youll stick you have a deadline to work towards you will
depth, I dont want to miss anything. with it until you understand everything and have feel better when you do! PQ
C. I just get stuck in and book a resit, Im sure a strong chance of passing. This is the most Jackie Durham, Education & Training
Ill do better next time around. effective approach for professional exams. Consultant, AICPA-CIMA

22 PQ Magazine September 2017


The ideal route to Chartered Public Finance Accountant status

The CIPFA Professional Qualication is your fast track to professional

accountancy developing your skills and boosting your career prospects.

Heres what we have to offer if youre AAT Level 4 qualied:

Fxpi only eight modules to complete*
RPilExpiPli(PEP) 200 days compared to 400
Flxillig online, face-to-face, distance or blended learning
Iillygiwith CPFA designation

Cliyxpiw

www.ip.g/
02075435600
E@ip.g

@CIPFAfutures CIPFA

* Subject to AAT modules completed.

PQ data protection

Are you ready

GDPR, and all this information will need
to be safe-guarded. Once all relevant
data is identified, risk assessments
should be carried out, such as a data
protection health check to identify any

for GDPR?
potential risks of non-compliance or
vulnerabilities in data storage systems.
Another change due to GDPR is that
client data will need to be processed
lawfully. If consent is used to process
data, it must be specific, informed, freely
given, and unambiguous. When consent
from clients is obtained, accountants
must show how this has been gained and
document it accordingly.
Clients will also have the right to be
Brian Palmer explains forgotten and have their data erased; for
example, if a contract ends. If this
significant changes to the happens, a reasonable procedure must
data protection laws that be in place to ensure their data is
deleted. It will also be the responsibility of
will come into effect in
data controllers and other companies in
2018 and will impact on possession of data to notify other
your firm controllers and processors of the data
that consent has been withdrawn and the
data should be erased from their records
too. In that situation, it will be important
to remember that data should also be
deleted from backups and cloud storage,
so it will be essential that businesses
have a record of where and how data is
stored, and know how to delete it
completely.

Cyber protection
As most data is now stored on computer,
cyber protection methods should be

M
ay 2017 marked one year to third parties who have access to data checked and encryption software
go until new data protection held by data controllers. installed on all PCs and electronic
rules come into force all devices used for an organisations work,
UK businesses will need to ensure that Processing activities in accordance with ICO guidelines.
they are compliant with General Data Under GDPR, data processers will also If the organisation has moved to cloud
Protection Regulations (GDPR) by 25 legally be required to keep records of accounting, the service used will need to
May 2018. GDPR has been brought in by personal data and what processing be GDPR compliant. As well as being
the European Union to give individuals activities have been done with them. This sure to protect computer-based
greater control of their data, because is a new requirement that differs from information, it should also be
business now collects more personal current data protection law, and many remembered that physical personal data,
information about individuals than ever businesses will need to be made aware such as the contents of filing cabinets,
before. Despite Brexit, the regulations are of it. will need to be protected under GDPR as
being adopted by the UK, so businesses The implementation of GDPR may much as online information.
here will still need to act and be ready. seem far away, but its a good idea for It is essential that your organisation is
The new GDPR rules split businesses your business to act now to ensure ready when GDPR is implemented.
into two different groups: data controllers compliance. An important step many Businesses who dont comply face
and data processors. Data controllers are accountants should take is to identify the proposed fines of 20 million, or 4% of
individuals or organisations who personal data they hold on clients, from their turnover an amount that not many
determine how and why personal contact details to bank account businesses can afford to lose. PQ
information is processed; accountants fall information. Maintenance of customer Brian Palmer, tax policy expert, the
into this category. Data processors are data will be much more rigorous under Association of Accounting Technicians

24 PQ Magazine September 2017

 AAT exams PQ

LETS GET TECHNICAL

Gareth John explains why its vital
you routinely test your yourself on
your syllabus knowledge. How else
can you guage your progress?

N
ormally in my articles I deal with
specific technical issues such as
depreciation or time series analysis. I
certainly hope that students find those articles
useful in achieving their qualifications, but this
month I wanted to look at something far more
fundamental to that journey.
I was chatting to one of my level 2 students
recently and asked them how they were getting
on with their studies. Great they replied Im
really enjoying the things Ive learned over the
past four months. And its helping me so much
at work.
Thats excellent to hear I continued And
how do you find the study material?
Its really easy to follow and understand. And could fail but its only by risking failure that I was Stress is, after all, something we do to
I love all the questions and mocks we are given able to pursue success. ourselves.
to practise. Failure can be an extremely positive thing.
Awesome. Im really pleased you find it all so Failure is how you learn what you need to do to Im not ready to sit the exam
useful. How many of the real assessments have succeed, failure is the only way you will find out Nobody ever feels 100% ready to sit an exam.
you passed so far? what you need to improve. Failure helps to focus Everyone will feel that there is at least one part
Assessments? Oh I havent sat any of the real your mind on what really matters to you and of the syllabus where they are weak. This can
assessments yet. failure will help your eventual success taste all lead them to believe that they will flunk the
I was lost for words. the sweeter! whole thing.
I am finding this situation increasingly And failure is rarely as bad as you think its You have to remember that to pass an
common. Students who dedicate hours a week going to be. If you do sit an assessment and fail assessment you dont need to score 100%. Far
to their studies, month in month out, students it might cost you some money and a few weeks from it. As long as you are competent with the
who learn the syllabus content and practise to do a resit but thats got to be better than basics you can achieve success even if you find
dozens of questions but who never get around to spending a year of your life studying for an exam some of the fiddlier parts of the paper tricky.
sitting a real assessment! you never sit. The AAT provides sample assessments that
As far as I am concerned, all that precious I think that the only real failure in life is to not give a good feel for what you can expect in the
time spent studying and practising is wasted if have a go in the first place. real thing. First Intuition and other training
you never get around to sitting any assessments. providers also produce mock assessments that
Its only by sitting assessments that you can I havent sat an exam in a long time help to test whether you are ready. If you are
possibly pass those assessments and its only by I can understand that when people have a break passing those mock and sample assessments
passing the assessments that you will eventually after school or college perhaps a year, perhaps you should take confidence that you are ready
gain your qualification; a qualification that can a decade the prospect of sitting an exam again for the real thing and sit it without further delay.
change your life dramatically. And it all starts can be quite scary. They probably have dim
with sitting your first assessment. memories of the stress and pressure they had I need to do more study
I thought I would consider some of the doing exams as children. This is related to the previous reason, with the
reasons I hear for why students put off sitting But you have to remember that these exams student feeling that they are not ready to sit the
that first assessment. are very different to exams you did back at exam and need to do more study. The danger
school. with this is that the longer your studies drag on
I might fail At school, we generally sat exams because we for the more likely you are to start forgetting
I believe that the fear of failure is probably the had to. There often wasnt a lot of choice. more than you are learning.
biggest thing that prevents a lot of people from Now you are sitting AAT exams because you I think that an ideal length of time from
achieving what they truly want in their lives. want to. You are sitting these exams because of starting a new subject to sitting the exam would
Rather than giving something a go and perhaps the incredible career options the qualification be eight to 12 weeks. Much longer than three
falling short, a lot of people would prefer not to will give you and the impact that will have on the months and I really think you start going
try something in the first place. But by avoiding lifestyle you can lead. Refusing to sit your first backwards.
the chance of failure I think they take an even exam is stopping you making that vision into a So, in conclusion, dont let your fears dictate
bigger risk, the risk of ending up with a life that reality. the direction of your life. Dont delay, book your
doesnt fulfil them. Feeling a bit of stress and pressure is no bad assessment today! PQ
There is nothing important in my life that thing, as its what will give you the incentive to Gareth John is a tutor/director with First
didnt require me to risk, and often to actually do some work to prepare. But if you are feeling Intuition and helps to manage their AAT
experience, failure. My qualification, my career, so much stress that you cant bring yourself to distance learning programme. He was PQ
my business, my wife, my family, my home. All sit the real thing you need to focus on how Magazine Accountancy Lecturer of the Year in
required me to put myself in a position where I achieving the qualification can change your life. 2011

PQ Magazine September 2017 25

PQ AAT Level 4

Planning for success

Experienced senior tutor Nitin
Rabheru offers some tips on
passing the AAT Level 4
Business Tax Exam

M
any students find the Level 4
tax exams challenging.
However, with an effective
study and revision plan you can
significantly increase your chances of
passing. From the outset it is vital you
familiarise yourself with the terminology
to ensure you know what you are doing.
The key to success is being able to
identify key issues, scenarios and tax
problems within a question. Not knowing
where to begin or how to start a question
is a very common barrier to passing.

Appreciating the skills required to pass

You must be able to calculate the taxable
trading profit for either a sole trader
(unincorporated business) or a company,
and appreciate the key differences. You
are expected to apply the tax rules to
scenarios given and be knowledgeable
with regard to tax admin and ethical
issues facing business owners.

Being prepared
Your revision should cover the breadth of straightforward. It often helps to draw a cards or crib sheets. Work through
the syllabus, as any topic can be time line. calculation questions and prepare
examined and all questions are Capital allowances: Firstly, ensure you computational proformas.
compulsory. Make sure you know the know what type of plant and machinery It will help you to note any traps you
basics the fundamental calculations, qualifies for the different pools. For have fallen into. The more mistakes you
proformas, layouts and tax admin. example, energy or water saving make during the revision phase the
Deal with those difficult topics you find equipment are subject to 100% first year better. Be sure to make a note of these
problematic such as partnership allowances. mistakes to avoid repeating them in the
allocation and basis periods. When Capital allowances and cars: exam.
practising questions, refer back to the Remember, cars do not qualify for the
course book or contact your tutor for annual investment allowance. Cars with Exam rehearsal and online assessment
support. emissions up to 75g/km are given 100% I would recommend completing a full
You need to ask yourself, have you first year allowances. Cars with emissions assessment before the real exam. This
made a real effort to understand all areas between 76-130g/km are subject to 18% will enable you to think about skills such
of the syllabus including the admin? For written down allowance in the main pool. as time management as well as the
example, do you know the key tax Cars with emissions in excess of application.
differences between sole traders and 130g/km are put in a special rate pool You should also review the reference
companies with regard to loss relief, filing where the 8% rate is applied. material before the final exam. Quite a lot
tax returns and payment of tax? Capital allowances and companies: If of detail is given for free in the exam but
you are computing allowances for a you need to know what there is and how
Top tips on some technical areas company, the period cannot exceed 12 to use it!
Adjusting net profit: It is always helpful months and you are not required to Avoid making silly mistakes, read the
to make a list of all the items that either make any private use adjustments. question/requirement carefully before
require an addback or deduction when Partnership allocation: Be comfortable diving into your answer. Too many
computing the adjusted trading profit. dealing with profit allocation after taking students do not read what the examiner
Basis periods: When applying these into account salary, interest and partners wants and can waste valuable time.
rules always begin with the start date to either joining or leaving. You must familiarise yourself with the
5 April in the first tax year. The second Tax admin: Make a list of all the keys style of the online questions and the AAT
tax year is the 12 months to the dates for when either a sole trader or a software before taking the assessment.
accounting date or the first 12 months of company is expected to file its tax return, As part of your revision, log in to the AAT
trading. If there is no accounting date in keep records and make payments of tax. website and attempt their online practice
the second year, tax 6 April to the assessments. PQ
following 5 April. The third tax year Effective revision Nitin Rabheru is an AAT tutor at BPP
should be on current year basis and Revision tools: Create self-made pass Professional Education

26 PQ Magazine September 2017

A BETTER
WAY TO ACCA

At AVADO, we are all about learning that

works with ACCA pass rates up to 95%*

Our unique formula includes:

Caron Betts
Award winning tutors, available online, by
AVADO ACCA Tutor
phone and email to get you exam ready

Engaging, bite-size content at your ngertips,

study whenever and wherever you want I have never had such a dedicated
tutor as Caron! She is amazing and

Full package with tuition, revision and tries everything she can to help me!

mock-exams all included. She changed my view of online

learning. I never expected such

Now enrolling for F7-F9 brand new papers great support from an online tutor.

available online! Grace Herron, ACCA student

* based on AVADO F1 Students sitting the March 2017 exam

Call today for a free consultation and save up

to 30% on selected papers: 020 7173 5685
www.avadolearning.com/pq
Prepare your students
for the Case Study

Functionality of ACCA,
CIMA, ICAEW
Individually timed from rest
of paper
Exhibit popups and highlighting
Auto marking and customised
feedback/study advice for most
question types
Your students will be more familiar Example spreadsheet question
with functions, timing, and layout
ready for real exam Draggable divider to expand/hide question stem

No installation or download required Excel functionality (SUM/IF/AVERAGE etc.)

Available worldwide

Visit getrogo.com or call 0207 997 6755

AVAILABLE NOW!

Are you
exam ready?
You need
PQ-GO!
Take our series of free online
tests and get that exam pass
 CIPFA focus PQ

CONFERENCE UPDATE
Tony Era, Financial Audit particular interest were the Senior
Manager stories. These sessions
Team Leader at Wales are becoming more and more
Audit Office and CIPFA common and I always find them
interesting, especially finding out
member reports on this how so many of us are accidental
years CIPFA Student accountants! It truly shows the
breadth and quality of the
Conference qualification and that it can open
up so many pathways.

T
his year saw a return to the The conference was closed with
fantastic city of a handover ceremony to the new
Manchester for the annual President of CSN, Chris Roberts.
CIPFA conference, at which a We all wish Chris the very best for
whole day is dedicated to students his year, which will surely include
and attendance is free of charge. some big changes. The day was
This is a unique and fantastic sessions for all attendees and we current political and economic capped off with the annual prize
opportunity to meet many different were welcomed by the new climate. awards for students and it was so
people from all walks of life and at President of CIPFA Andrew Burns. With my head swimming with rewarding and pleasing to see the
many stages in their careers. Andrew welcomed one and all, and new ideas, I headed over to the celebrations after what I know were
It was my second year as an set out his vision and priorities for main exhibition centre for a quick many months and even years of
attendee due to my volunteering his year of Presidency. It was a spot of networking on the way to hard work.
with the CIPFA Student Network truly inspiring welcome from the Student Conference. It was If I might leave you with one
(CSN). Although I am a fully someone who I personally met at particularly nerve wracking because thought it is to really encourage you
qualified member of CIPFA, I still the very first CIPFA event I up to this point we did not know to get involved with one of the
personally feel a strong sense of attended in 2013, and who is how many students were at the many CIPFA volunteer groups. For
duty towards all PQ students, both always a passionate speaker and event but slowly and surely our me it has given me so many
in the workplace (across a variety advocate for CIPFA. room started to fill up and we had a opportunities and it really does
of institutes) and in the wider Next up was a panel session by great audience. provide long lasting friendship and
CIPFA world. While my enthusiasm three of the most interesting and Kathryn Long, President of the development.
remains high and I still feel I am engaging speakers I have ever CSN, welcomed everyone and the CIPFA students wishing to get
able to offer useful support I will seen. Andrew Lilico, Philip Collins day was filled with thought- involved in the work of the CIPFA
continue volunteering with CSN. and Grace Blakely spoke provoking and engaging sessions Student Network are invited to
The conference began with a few passionately and frankly about the from a wide variety of speakers. Of contact csn@cipfa.org. PQ

Students take centre stage

P
art of CIPFAs regular calendar of events is their annual Student
Conference, taking place last month at Manchester as part of
CIPFAs wider Annual Conference.
One of the conference highlights is the annual prize giving for those
students whose exam results reflect the best performance in specific
modules of the CIPFA Professional Accountancy Qualification (CIPFA PQ).
Friends and family of the winners were also invited by CIPFA to help
celebrate the students achievements. Congratulations to all the winners,
particularly Tess Barker of Grant Thornton, who picked up a total of three
awards in this years ceremony. The winners were:
Arthur Collins Memorial Medal (Best overall in SCS and SPF): Tess
Barker, Grant Thornton UK LLP
Richard Emmott Memorial Prize (Best performance in SCS): Tess Barker,
Grant Thornton UK LLP
Eric Gilliland Memorial Prize in SPF (Best performance in SPF): Tess
Barker, Grant Thornton UK LLP
Best performance in FA: Laura Tymon, Kingsbridge Academy CIPFA student prize winners on stage
Best performance in MA: Jeremy Williams, Ministry of Defence
Best performance in CFR: Katherine Sissons, London Borough of Best performance in TAX: Jason Gooch, Nottinghamshire County Council
Islington Best performance in CGL & PSFR: Nicola Jayne Owen, Isle of Anglesey
Best performance in AA: Sarah Heasley, NHS Leadership Academy County Council
Best performance in FM: Collins Mitchell, Grant Thornton UK LLP Best performance in CGL: Callum Justice, City of Edinburgh Council
Best performance in FM: Laura McHugh, Northern Ireland Audit Office Best performance in APA: Jessica Hambley, Grant Thornton UK LLP
Best performance in BCM: Billie Emery, Wandsworth Borough Council Best performance in APA: Hiruni Weerasekera, Grant Thornton UK LLP
Best performance in SPD: Linda Major, Self-funding CIPFA International Student of the Year 2016: Batdolgor Chuluun

PQ Magazine September 2017 29

PQ ACCA exam tips

The September exams years, with taper relief, and looking where no alternative answers are P1
are just around the at advantages of lifetime gifts over given to guide you, usually in Agency risk.
death gifts. numerical questions. Rules v principles governance.
corner. Heres LSBFs VAT: calculation of VAT payable, Section C: ratios and Governance principles (e.g.
exam tips overseas aspects of VAT and VAT interpretation, including transparency, scepticism).
groups. adjustments to be made before Independence of NEDs.
F5 Watch out for some sort of tax comparison to last year or a Director remuneration.
Sections A and B: costing planning question, for example, different company; published Family companies/two-tier
methods (ABC, throughput and how profits from a company should accounts with standards, including boards.
lifecycle) and decision making be extracted cash flow Objective v subjective risk.
(relevant costing, linear or looking at aspects; Enterprise risk management.
programming and uncertainty). the tax consolidations. Risk audit.
Section C: transfer pricing, planning F8 Need for internal audit.
budgeting and advanced variances. opportunities Section A: all Internal control reporting and
F6 available to syllabus areas, audit (SOX).
Income tax: looking at a sole married including ethics, Corporate codes of ethics.
trader or partnership business and couples. governance and Kohlberg moral development.
calculating the tax adjusted profit. F7 audit reports. Tucker 5 questions.
Calculating the income tax liability, For the 60- Section B: Bribery and corruption.
with the savings income and mark MCQs practical scenario Corporate citizenship. PQ
dividend income nil rate bands in sections A questions on
being examined. and B the internal control Health warning: You will
Corporation tax: looking at a entire objectives, not pass these exams if
company with a long period of syllabus must procedures and you do not have extensive
account, requiring two corporation be covered, tests; substantive knowledge of the syllabus
tax computations. Corporation tax including the more obscure procedures; audit risk and and have a revision plan
implications of companies standards (recent questions have response.
belonging to a 75% loss group. covered R&D, government grants, F9 For more top LSBF tips for
Chargeable gains: calculating borrowing costs, investment Section A: various questions from
P2, P3, P4, P5, P6 and
gains made by an individual on properties, etc). Also important are across the syllabus.
P7, plus all of BPPs tips,
disposals of residential property depreciation and revaluation, Section B: valuations and risk
versus disposals of non-residential deferred tax, associates, effect of management. go to the PQ magazine
assets. company payment policies, etc, on Section C: investment appraisal, website:
Inheritance tax: calculating IHT working capital ratios. Watch out including an NPV and business www.pqmagazine.com
on lifetime gifts made within seven also for objective test questions, ie finance.

The highest level tax

qualification in the UK

Find out more at www.tax.org.uk/ctaqualification

30 PQ Magazine September 2017

 CTA exams PQ

Mastering tax
How many CTA exams are there? There are four
written exams (one Awareness, two Advisory and
one Application and Interaction). There is also a
computer-based exam on Law and another on
Professional Responsibilities & Ethics. So far
fewer than the exams you have to sit to become
ACCA qualified. Youre about to finish your ACCA studies, so how about becoming a
Do I get any exemptions for being ACCA
qualified? If you passed the ACCA P6 UK Chartered Tax Adviser (CTA)? Sheridan Matthew Gray answers some
Advanced Taxation exam you will get exemption common queries from ACCAs looking to take this next step
from the Application and Interaction paper. So if
you have this you are down to three written the content per exam much wider than for an is tax. The knowledge you learnt at P6 will form
exams to pass. Please note this exemption ACCA exam. the building blocks of the knowledge for your
doesnt apply to the old ACCA 3.2 Advanced Which written exam should I take first? The CTA studies. Also you will be using tax legislation
Taxation paper (pre 2007). flexibility of the structure allows you to sit the during the CTA exams. This may seem
If you didnt choose the P6 paper you are still exams in any order. However, I would strongly intimidating at first, but with practice you will
eligible to study for the CTA exams. However, recommend that you sit the Awareness paper find how useful it can be in both the exam
my advice would be first study for the first. Most candidates find this the least setting but also in the office.
Association of Taxation challenging of the exams and gives a When do I have to register by? You must be
Technicians exams, such is the gentler introduction into the CTA careful with this as it is quite a long time in
step up in knowledge required exams. advance. You must be registered with the
from the ACCA F6 exam. I have heard the CTA exams are institute for four months prior to sitting your first
When are the exam sittings? hard. How difficult is it? The written examination. The deadline for registration
The written exams can either CTA exams certainly are if you wish to sit in the May exam is the end of
be sat in May or November challenging but they are the previous December. The deadline if you wish
each year. Computer-based attainable. To put this in to sit in the November exam is the end of the
exams are on demand so can be perspective, in the November 2016 previous June.
sat at your convenience. exam sitting one the CTA written What if I have more questions on how to study
How many written exams should I papers had a pass rate of as high a 73%. for CTA? You can get in contact at cta@bpp.com
take in one sitting? The structure of the exams In December 2016, the ACCA P6 exam had a and one of our dedicated Tax tutors at BPP will
allows you to sit as many as you wish each pass rate of 34%. get back to you. PQ
sitting. However, I would strongly recommend How will it differ to what I studied at P6? The Sheridan Matthew Gray is a tutor at BPP
sitting only one paper per sitting as you will find CTA syllabus is a fair bit wider but ultimately tax Professional Education

PQ Magazine September 2017 31

 W K
NO O
BO

Pass first time with

"Lovely staff, always go the extra mile to help out students. Wouldn't study anywhere else."
Julie,ACCA student

Ginny (FI tutor)

Hi Ginny, quick question - what

is the difference between CSR
Strategy and Strategic CSR?
21:09

The strategy is how the

organisation is going to
implement CSR, strategic CSR
is the big picture rationale for
carrying out CSR. Hope that
helps :) 21:11

It does! Thank you!

21:15

www.fi.co.uk
/firstintuition

@first_intuition
info@fi.co.uk

With classroom centres in

Bristol Cambridge Chelmsford Leeds London
01173 540190 01223 360405 01245 209900 01134 677770 02073 239636

Luton Maidstone Manchester Reading Southampton

01582 733900 01622 755100 01612 286564 01189 504173 01189 504173
 ACCA P4 paper PQ

Time allocation =
this time to read Q1, starting with its
requirements. Understand clearly what
you have to do and which of the core
topics are being tested.

football formation
40 = This is the part that takes self-
belief! Attempt all the theory/written
elements upfront. Q1 normally contains a
mix of theory requirements not all of
which relate to potential calculations. The
unrelated written parts are easy to
Back of the net! Master tactician Sunil Bhandari has a novel attempt first of all.
way of getting you past this tough paper. Go on my son! However, candidates will be requested
to comment upon the calculation parts of

S
o what has sparked me to write challenging paper and needs a different Q1. Although this may seem implausible,
this article on ACCA P4 Advanced type of mindset. believe me that it is feasible to complete
Financial Management? Well, Hence I derived this radically different the related comments on the numbers
these comments from students on the way to use your exam time. prior to hitting the calculator.
June sitting for a start A hard one; Q1 often requests candidates to outline
Pretty brutal; and A toughie is how it Exam time football team formation the assumptions made and reservations
was described. One PQ even questioned surrounding the calculations. These can
the idea that P4 can be taught! 5 be explained using the data in the
Another concern was with Q1, which question and application of your P4
threw quite a few exam sitters. How can syllabus knowledge.
you answer a question if you cant 45 45 In addition, candidates can take an
calculate the first bit, many wondered. I assumed value for say an NPV, business
got stuck on first bit of Q1, so how do valuation, etc, and give a semi-generic
you then answer what flows? said a 10 view on this. I accept you will not get a
disgruntled sitter. perfect mark, but the aim is to ensure
Another felt the examiner had taken you score a pass-worthy percentage
time pressure to another level. 40 50 overall. Experience tells me many
These were comments published on students fail to make any comments at all
the PQ website shortly after the sitting of on the Q1 calculations. Thats like
the June 2017 paper. missing an open goal!
I totally accept the right of students to 50 = Now is the time to use the
air their views and opinions. That's Let me explain each position in this calculator. Complete the numerical
perfectly fine. I understand that there exam time football team and how you demands of Q1, knowing that you cant
maybe an element of frustration or use the 195 minutes available: go over time, as the exam invigilator will
unhappiness if a candidate feels, let us 5 = ACCA P4 candidates should start call time.
say, hard done by. As the saying goes, the exam by reading the requirements of Finally, I am no Jos Mourinho that is
the proof of the pudding is in the eating. Q4, Q3 and Q2 in that order. Jot down on true. But as a manager he has to get the
However, my attention was drawn to the exam paper which of the five core best out of his players. As a P4 tutor I
the last comment about the apparent topics that make up the P4 syllabus are want students to do their best in the
level of time pressure experienced by P4 being tested in each question. Then exam room. By adopting the exam time
students. To be fair this is neither new cross out the question you will not football team approach I believe you will
nor unexpected. Its the same comment attempt and rank the remaining two in score the goals that you need to win your
made over and over again. your preferred order of attack. game. PQ
Given this fact, I decided prior to this 45 = Spend exactly this time on your Sunil Bhandari is a P4 freelance tutor
paper, to take a radically different view first Section B question. If possible, try to
on how to use the 195 minutes in the front-load the theory parts, as it is far
exam room. The old school way of easier to control your time on the written
allocating time using 1.95 minutes per elements.
mark along with attempting Q1 first is, in 45 = See the 45 above, but apply to
my view, exactly that old school! your second Section B question.
I looked at time allocation by thinking You want to score as high as you can,
of it like a football team formation. My which is obvious, try to reach a minimum
line of thinking is: I am a manager of a of 30/50 after completing Section B.
football team and I must get the 10 = As all football lovers like me
maximum out of my players. It sounds a know, the No 10 position is a key one.
bit crazy, but as we know this is a Same is true in an exam context. Use

Drive your career with PQ!

Our jobs board is where your next job is

PQ Magazine September 2017 33

PQ ICAEW spotlight

Make the most of the ICAEW

learning materials on offer
ICAEW has a vast array of online errata on our website for all students to access.
Certificate Level sample exams: These will
resources to help you get a pass provide you with the exact format and
functionality that you will see in your Certificate

Y
ou have the ICAEW published study Level exams.
manuals and question banks, reviewed Certificate Level sample papers: Sample
and approved by ICAEW examiners, and papers show the weighting and types of
have everything you need to pass your exams. questions you can expect.
But there are so many more resources available Past exams and mark plans: For all the
online. Professional and Advanced Level exams, you
ICAEW is here to support you throughout your can download past exams and their mark plans.
studies and ensures that all of the resources The mark plans include comments from the move to computer. Access the computer-based
available to you are up-to-date, helpful and examiner, providing guidance and feedback for exam guidance and support including an exam
relevant. So here is an overview of our online you to use in your studies. guide, six short webinars, sample exams and
resources: Study guides: The study guides take you question banks within the new software.
Syllabus and technical knowledge grids: through the study manual and detail where Each year these online resources are updated
These list the learning outcomes for each exam specific learning outcomes are covered. alongside the learning materials. These updates
and describe what and how you will be Useful articles and advice: Each exam has reflect changes in the syllabus, legislation,
assessed. advice and hints and tips from the examiners to finance acts and financial reporting standards.
Skills development grids: The grids show the help you pass your exams. ICAEW will also include any changes to the type
professional skills developed in each exam as Webinars: To help you successfully prepare for of questions you can expect to see. So it is
you progress through the syllabus. This your upcoming exams, ICAEW tutors have important that you use the correct edition of the
highlights skills such as interpretation and recorded webinars for each exam of the ACA. online resources and learning materials giving
analysis, professional scepticism, Professional Level computer-based exams: you everything you need to get that pass!
communication, and commercial insight that you The Professional Level exams have started to Explore all of these resources at
develop in your ACA training. move to computer. Audit and Assurance and Tax icaew.com/examresources PQ
Errata sheets: If any errors within the study Compliance are now computer-based only and, Thanks to the ICAEW for this article
manuals or question banks for any exam are from September 2017, Financial Accounting and Reproduced with the permission of ICAEW, this article was
brought to our attention, we will publish an Reporting and Financial Management will also first published in Vital (April 2017).

Join our
Award Winning Centre!
We offer Practical training
courses in:
- Sage Payroll
- Sage 50 Accounts
- Management Accounts
- Value Added Tax (VAT)
- Excel Spreadsheet and others

Daytime/Evening Courses:

GAIN FREE WORK PLACEMENTS AAT Level 2, 3 & 4

WITH ALL OUR COURSES ! Distance Learning Available
FREE APPRENTICESHIPS AVAILABLE **Payment Plan **
For more information:
Call: 020 7252 9331
Email: admin@thetrainingplace.org of Excellence
Address: Carlton Cottages,
12 New Cross Road @Training_Place where quality trainings & practical work placements take place
London SE14 5BE 07496141960

34 PQ Magazine September 2017

 LSBU conference PQ

Future belongs to you

PQ magazine and London South Bank Universitys one-day conference takes running throughout the day. If you want to
place in November. Its free to all PQ readers so make sure that youre there get to grips with big data or making tax
digital then our digital technology room is
where you want to be heading. Or maybe
you want to get all technical on us? Then
you should make for our lets get
technical room. Here you can get updates
on crowd funding, money laundering,
leases and lots more of the big issues.
There are two other rooms as well own
your career and employer advice.
We really do have it all covered. And,
remember, this is a free event for you. To

A
s the ACCA says: Tomorrows sign up all you need to do is go to
world is coming. From new www.lsbu.ac.uk/whats-on and scroll to
skills to changing roles, 23 November. The PQ team would love to
tomorrows CFOs will increasingly need to see you there. PQ
be good at brokering external relations as See page 14 for more details
they are at dealing with the media. In the curve? Well, a good start would be to
many senses ACCA sees them becoming sign up to our free one-day conference,
the face of the corporate brand. They, of called The Future of Accountancy:
course, already fill this role with Success in a changing world. We are
investors, but they will have a broader very excited to announce that we have
circle of business relations. enlisted the services of Alan Hatfield, the
The world is changing at a rapid pace, ACCA executive director, strategy and
dictating that the skills and knowledge development. He will be helping us to
required by professional accountants open the conference.
must change, too. There really will be something for
So, how are you going to stay ahead of everyone, as we have four streams

The easiest way to get your free monthly copy is to go online at

PQ magazine www.pqmagazine.co.uk, or you can fill in the form below and send it to:
PQ,PQUnit
Magazine, 4th Floor,
3a, Kingfisher Central2 House,
Heights, 142Way,
Bramwell Central Street,
Royal London,
Docks, EC1V
London E168AR
2GQ

About you Study please tick a box in 1A or 1B

1A Please indicate accountancy body you belong to and tick the box of the next set of exams
Title...................................................... you are hoping to sit
ACCA CAT F1-3 F4-F9 P Papers
First name............................................ CIMA Certificate Operations Management Strategic T4
CIPFA Certificate Diploma Strategic
Surname ..............................................
ICAEW CFAB Professional Advanced
Company name .................................. ICAS TC TPS TPE
Tax ATT CTA
............................................................
AAT Level 2 Level 3 Level 4 Member
Department.......................................... 1B Studying for an accountancy degree/MBA/MSc Year 1 Year 2 Year 3

Full postal address Home Work

Do you work in accountancy and finance Yes No
............................................................ If yes, what is your job title? ..........................................................................................................
............................................................ * How do you want to receive your PQ magazine?
............................................................ Please tick your preferred mode of delivery for your free monthly magazine.
Online (please supply email address) By post (UK only)
Postcode ............................................
Sign below to receive your monthly PQ magazine totally free
Phone ..................................................
Sign here ............................................................................Date...........................................................
* Email ................................................
Please tick here if you do not wish to receive direct marketing promotions from other companies.
PQ magazine reserves the right to refuse a free copy of the magazine if the applicant does not comply with the terms and
............................................................ conditions of circulation.We will use your details to send you a copy of the magazine and any further information we feel
would be of use.

PQ Magazine September 2017 35

PQ careers

Life at Ealing council

social media Tim Jabulani Mpofu, 25, has worked as a finance graduate for two years. He has a

ROUND-UP degree in accounting & finance from Lancaster University and is studying CIPFA through
the London Treasurers graduate scheme. He was recently named our PQ of the Year
What time does your alarm Ealing Town Hall (pictured). On a arrange a weekend break abroad.
go off on a work day? 6am. clear day I can see the Gherkin, What is your favourite TV
We put our Big 4 Firms like a CIMA After a couple of snoozes and a the Shard and the London skyline. show? White Collar.
story on LinkedIn and got some great personal pep talk I sometimes Which websites are your Summer or winter? Summer
feedback. Adrian Rutter, a man who manage to convince myself to go favourites and why? Twitter! everything looks better with a bit
talks a lot of sense, said: Dont get to the gym and start off my day. Why is Twitter still free? of sunshine.
too carried away the Big 4 prefer Whats the first thing you do Which websites do you use Who is your hero? My dad.
ICAEW by far. CIMAs 774 is still only when you get to your desk? I for work? Google search is If you had a time machine,
10% of the market leaders share, log into the computer and while my go-to for any Excel- where would you go?
which make us barely more popular its loading I head over to the related problems. I Ive always wondered
than the coffee crme in the breakout area to make a brew. have learnt to do a what life was like during
Christmas Quality Street box. Whats the best thing about lot of things with the Renaissance
where you work? The people spreadsheets I period
are great and really supportive. I never knew If you hadnt
have learnt so much from them possible. chosen
since I first joined. How many hours a accountancy, where
Wheres your favourite place week do you spend in might you be right now?
to go for lunch? Nothing beats meetings? Depends on whats I would like to think that Id be
leftovers from mums kitchen, but on that week. playing football in the Premier
I would say Firezza in Ealing is the How do you relax? I like to League scoring screamers any
next best thing. come back from a busy day at given weekend. However, I think
What (or who) can you see work and play a bit of FIFA. Im a bit better at numbers than I
One of our top tweets this month when you sit at your desk? Usually post exam sitting I like to am at kicking a football.
asked our 4,000 followers what
corporate jargon annoys them. We In brief
said: The top three on a new list are
touch base, blue-sky thinking and Accounting jobs up 21% How high can you go? Stuck in the middle
were on a journey. Yep we hate all A new UK Jobs Index has Ever been in an interview So, are eldest children the
three! Tony Magaritelli quickly replied: found that the number of and heard your voice getting most successful and
Its thinking outside the box and advertised job vacancies for higher and higher? That may be intelligent? Not according
mission statement that do it for me. accounting and finance an unconscious submission to new research from
For Scotty Newton it is reach out to professionals in the UK rose by gesture kicking in. Scientist say Disney, which found that
and for Paul Sizer it is put on the back 21% in the second quarter of the pitch of our voices changes middle children are 30%
burner. Paul Bisby then added his pet 2017, compared with the same depending on the perceived more likely to be CEOs. Eldest
hate working from home, and finally time last year. SMEs and start-up social status of the person we are children seem to want the
Jagz said: Do some work is what firms across tech and related talking to. This becomes apparent spotlight all to themselves and so
annoys me the most. Well done Jagz, fields have played a key role in in interview situations. When tend to go for more attention-
you made us laugh out loud! driving demand. And with Brexit being interviewed by someone we grabbing careers, such as rock
Meanwhile, a Facebook story we around the corner, senior see as more prestigious or stars and reality TV stars. Mark
posted looked at the four cheap wins financial professionals are in high dominant our voice goes higher. If Zuckerberg, Bill Gates and Lord
that can help ACCA students. These demand to provide strategic input you feel you are the dominant Sugar have one thing in common
are reading the examiners reports, to ensure financial sustainability. one then your voice deepens. they are middle children!
specimen exams, taking a look at the
five-minute exam team videos and
using approved content. Richard The PQ Book Club: books you should read
Clarke wasnt happy, though. He felt
the ACCA needed to learn a little bit Influence: How to raise your reflection. For example, at the self-awareness,
more about the cause and effect profile, manage your reputation end of the opening chapter he finding out what
rather than claiming nonsense such and get noticed by Warren Cass asks readers to write down the sort of person
as do this and you are x% more likely (Capstone, 10.99) answers to questions including you really are.
to pass. Georgian Morrison agreed who has significantly Other subjects
that though they are good you cant The best business self help influenced you over the years? deal with the
gain a 22% better chance of passing books are ones that manage to and what made them importance of
just by watching a five-minute video make profound points while influential? This has the effect being a good
surely! being accessible and easy to of making the reader explore the communicator,
Finally, we thought we better update digest. This book is certainly concept from a personal angle, and why repution is so
you on the CIMA UK Student Group among them. Author Warren a neat ploy. important. We like the way the
Facebook story. You can our see the Cass has obviously taken this to Other chapters include P is auther litters the text with
letters page for the full story, but just heart his book is full of pithy for People, which explains the quotes both old and new, from
so you know it IS a group supported observations and advice. importance of you having a Confucius to Mark Zuckerberg.
by CIMAs UK marketing team and He starts out by explaining network, and why its important Cass both informs the reader
aims to help students engage with what influence is and how you that you understand who you and steers them towards self-
each other to share practical tips and can wield it to further your should be associating with improvement in a book that is
resources. We were told by CIMA it career. Importantly, each and why. One segment is well worth dipping into.
wasnt sorry about that, but what chapter is concluded with a headline Become a student of PQ rating 5/5 A great book for
can we do? short exercise for the reader people start with you; this the beach this summer for those
that Cass calls A moment of underlines the importance of of you serious about your career

36 PQ Magazine September 2017

www.howett-thorpe.co.uk

JOB HUNT.
DONE.
#JOBHUNT

FARNHAM WEYBRIDGE SLOUGH REIGATE

01252 718777 01932 901900 01753 313033 01737 304050
farnham@howett-thorpe.co.uk weybridge@howett-thorpe.co.uk slough@howett-thorpe.co.uk reigate@howett-thorpe.co.uk
PQ got a story, funny or serious, you want to share? Email graham@pqaccountant.com

TIME TO SHOW OFF

PQ recently came across a Chinese student on Facebook
who tried to give herself a leg up by writing some answers
on her leg! She then posted the photo on social media
as you do. The notes on her leg involve accounting terms,
simple debit and credit book-keeping, according to one
observer. When we tweeted this story it didnt go down too
well with some of our followers. Rebecca Pope said: You
dont need to cheat if youre put the hours in. Jonathan
Baker wondered: Why didnt I think of this? You may
need to shave them first, Jonathan! AHEAD OF THEIR TIME
The PQ team recently headed off to
KEEPING POKER FACED? Marlborough House to see editor Graham
Hambly become an FAIA (Hon), along with
First he finished his degree in
accountancy, but what did Scott the likes of the wonderful Professor Richard
Blumstein do next? Well, he Murphy (see page 12). Did Sarah Churchill
won the World Series of Poker and architect Christopher Wren have an
in Las Vegas, obviously! insight into the future in 1711? Our editor is
Blumstein is no stranger to the convinced that one of the painted frescos
game, having won $300,000 on includes someone brandishing an iPad!
the circuit before picking up a Murphy was in total agreement.
cool $8.1m for the World Series.
Blumstein eliminated fellow American Daniel
Ott on the 246th hand of the final table.
KEEP IT TUCKED IN
BEST TAX DODGE
TV personality Kirstie
Ever had a problem with keeping your shirt perfectly
tucked in? Well, on a recent trip abroad (its called a
holiday, we believe) PQs editor was shocked to come
Allsopp recently got into hot across NVEzy in the inflight magazine. These male
water for her suggestion that suspenders are, so the ad says, a perfect way to keep
keeping your washing your shirt from falling out of your trousers. We just
machine in the kitchen was
a big no-no. She also has a
arent sure what happens when you sit down and
stand up. There is going to be a lot of fiddling down
GAME OF THRONES
ICASs Student Blog knows how to hook you
view on what is the greatest there and too many men already spend far too long in. A recent blog explained how CAs who
tax dodge, too marriage! adjusting themselves for our liking. tune into Game of Thrones can learn a thing
or two about business. The seventh series is

A BRIDGE TOO FAR? Bridge, the card game, is a

sport, according to the European Court of Justices most senior legal advisor. As a
now well and truly here, but what are those
lessons? We are told you need to stick to
your career goals because perseverance is a
result its players should not be charged VAT on competition entry fees. This continuing theme in the Seven Kingdoms.
challenges HMRC rules and the case must now go to the full European Court of Daenerys Targaryen is used as the prime
Justice. There is no real definition of sport, beyond it not including games of example here. She may be young and
chance. EU law simply requires proof of benefits to physical or mental well being inexperienced, but she has proved to be a
for a sport to claim VAT exemption (both snooker and darts are deemed sports). survivor. Three dragons might help, too!
While HMRC doesnt recognise bridge as a sport, the Charity Commission does. Support is another key to success says the
The Charities Act (updated 2011) says sport includes activities which promote blog, pointing out the fact that King Joffrey
health or wellbeing through physical or mental skill or exertion. HMRC does have didnt have any! Finally, you have to always
one ally, Sport England. It wont recognise bridge either! be ready for change

WEV E GOT THE L OT
IFRS in your pocket Sudoku is back!
They proved so popular we have persuaded the IFRS Summer is well and truly here, so what you need is
Foundation to give us five more copies of its Pocket our four-book pack of The Times Sudoku puzzles.
Guide to IFRS Standards: the global financial They would set you back 28 in a bookshop, but with
reporting language. Not only do you get summaries PQ they only cost the time it takes to send one email!
of IFRS 1 to 17, you also have IAS 1 to 44. What Sudukos are a great way to exercise the grey matter,
more would anyone want? Nothing, I hear you cry! and can really help reduce the stress of everyday life.
To enter this great giveaway send you name and If you want to be in with a chance of winning this
address to graham@pqaccountant.com. Please giveaway head your email Summer Sudoku and
head up the email IFRS Pocket Rocket. email your details to the usual address.

Terms and conditions: One entry per giveaway please. You must send your name and address to be entered for the draw. All giveaway entries must be
received by Friday 15 September. The main draw will take place on Monday 18 September 2017.

TO ENTER THESE GIVEAWAYS EMAIL GRAHAM@PQACCOUNTANT.COM

38 PQ Magazine September 2017
 Ready Forr
Your Next Step?
tep?
Whether you are studying towards CIMA, ACCA or ACA, we have a wide variety of exciting roles available
for you during and after your studies. As part-qualied salaries continue to rise and benets increase to
an unrivalled level, there has never been a better time to consider your next career move!

Audit & Advisory Senior Finance Analyst

Top 10 Firm Market Leading Retail Business
London, 45,000 - 50,000 London, 35,000 40,000
Incredible opportunity to join a Top 10 firm with Are you looking to join an instantly recognisable
immediate exposure to not only leading audits but also multi-site retailer in a genuine business partnering
providing advisory services to a variety of clients. role? You will liaise with the operations of the business
Excellent exposure working with the partners and looking at store analysis, regional profitability and
liaising directly with clients on a daily basis, this is truly overheads. Excellent influencing and communication
a commercial opportunity within the audit world! skills are essential.

Audit Semi-Senior Business Analyst

Top 20 Firm Blue Chip Technology Business
London, 35,000 - 40,000 + Study London, 32,000 - 38,000
This top central London firm is offering a part-qualified Do you enjoy working with non-finance and
professional the option to work with a vast mixture of influencing senior stakeholders? This Blue Chip
SMEs and listed clients. Full study support will be business continues to grow at an incredible pace. It is
provided. Additionally, you will have the option to now recruiting for a part-qualified analyst to assist with
select how many exams you take and when. the budgeting and forecasting on a global basis.

Accounts Semi-Senior Contact us

Independent Firm If youre looking for your next step in your
London, 32,000 - 38,000 career, dont hesitate to contact me for advice
Looking for more responsibility? This rapidly growing and further discussion.
city firm is looking for a part-qualified audit and
accounts professional to lead audits and manage small Tom Eagle
clients. This is the perfect opportunity for you to grow Manager - Accounting & Finance
your experience to an unparalleled level!
DD: 0207 269 6349
E: tom.eagle@pro-nance.co.uk

Pro-Recruitment Group
WWW.PRO-FINANCE.CO.UK 20 - 23 Greville Street, London, EC1N 8SS.
 SITTING YOUR ACCA EXAMS IN SEPTEMBER?
BOOST YOUR KNOWLEDGE WITH LSBFS REVISION COURSES

WHY LSBF? USE PQ10 CODE FOR 10% OFF YOUR COURSE

Free revision for F1-F4 papers

Award-winning tutors
Pass 1st Time Guarantee* REVISION EXAM REHEARSAL DAYS

17-time PQ Magazine Awards winner Study weekends or Study weekends

extended weekends. or weekdays.
Easy online booking from any device Classes start 12 & 19 Classes start 26
August 2017. August 2017.
High standard classroom and online
study materials FEES FROM 430 FEES FROM 170

*LSBF Pass 1st Time Guarantee ensures that if you do not successfully pass your paper on the first sitting, you will be able to attend a free resit course. The
nature of the free resit depends on the preferred study mode.

The offer is available for ACCA London courses only and ends 15 September 2017.

BOOK ONLINE AT
LSBF SHOP