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Accountancy
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Issue # 027 May 22, 2003 |
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Poll Results |
ICAP's recent decision to set
up a specified paper to test the competence of ACCA/ CIMA qualified
students in certain areas has been met with a mixed response in the
accounting circles. Some are of the opinion that ICAP has no right to
do such a role reversal in the first place after allowing exemptions
to ACCA/ CIMA qualified students for such a long time. Others are
advocating that ICAP's taking away the exemptions was the correct
thing to do but this specified paper is a step back from that stance.
And others say that the specified paper is the most appropriate
solution to this issue which should wash away the grievances of all
parties. We asked our viewers for comments
regarding this situation and this is how our readers
have responded uptil now.
Setting up of Module-F Specified paper for ACCA/ CIMA qualifieds
is...
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a good decision by
ICAP |
64% |
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a bad decision by ICAP |
27% |
| Module-F
Specified paper.. whats that?!! |
9% |
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Accountancy currently
finds itself in the eye of the hurricane. Financial scandals,
changes in the form of Basel II and International Accounting
Standards (IAS), and stock market turmoil are bringing about
the most sweeping changes ever seen at the same time.
Read
the full article |
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Fraud includes the improper usage of
resources and the misrepresentation of facts to receive gain.
It is related to the misallocation of resources, or the
distorted reporting of the existence and availability of
resources. Fraud is a parasite that maims and eventually kills
an organisation.
Read
the full article |
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| "Teach a parrot to say
supply and demand and you have an economist. Discuss"
(Question in a higher education final degree examination.) The
concepts of supply and demand are central to the study of
economics.
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the full article |
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To say Risk
Analysis is an important issue is an understatement. It
is difficult to quantify the losses suffered each year by
businesses arising from the use and misuse of Information
Systems (IS). In Ernst and Young's 1998 report Fraud: the
unmanaged risk the total losses experienced by 132
companies exceeded US$628 million, with over half of the
respondents having been the victims of fraud during the year.
Read
the full article |
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