Showing posts from November, 2009


Heartiest Congratulations to my student, Mr (Jack)Jian Hua Chew for scoring the highest marks for F8 in Malaysia. He beats thousands of other candidates. I am proud to admit he is hardworking, full class attendance and focused on exam techniques paid off.

If he can do it, so can all of you students. I always share the same passion to support and assist EVERYONE of YOU to pass. The fact that F8 has the LOWEST pass rate (shocking 19% only) in Malaysia pose an opportunity for you. The marking standard becomes relatively low compared to international standard. It means (unfortunately) that the majority of F8 candidates don't have a clue on how to manage and tackle the exam paper. But you have attended my classes, with lots and lots of exam techniques, put you all in better advantage.

To Jack, if you are reading this, though I am happy over your achievement, but this is only a battle you won. To win the War ie pass ACCA, you need to continue be strong, determined and

----- as Winston Chu…

P3 Target Practice for December 2009 Exam

Pic 01: Are you ready to meet your opponent? Which are you in the picture?

Are you ready for the exams? Really? Confident? Well, try out the questions below and see how much you can generate as many points (ideally 100 points for a 100% exam) in 3 hours and 15 minutes.

Best wishes

Question 1 Case study :
• Accounting firm travels frequently to clients’ office for audit, follow ups and deliver reports
• Problems of
 Late deliveries
 Poor communication with client on audit changes
 Outdated software and incompatibility with clients system
 High labour turnover.
 Loss of confidential documents.
Required :
a) Assess the internal weaknesses and external threats that Marks Accounting face. Note: Your answers need NOT include strengths and opportunities. [10 marks]
b) You are approach to evaluate the possibility to merge and Spencer Accounting firm. Write a report to Board evaluating the proposals risks and benefits. [12 marks include 2 professional marks]
c) Business Process Reengine…

P1 (ACCA) December 2009 Exam Tips

Pic 01: How to balance internal controls, risk management, best practice without neglecting business objectives? Hello? Anybody out there?

Lecturer : Marcus Ong

Dear Students,

Take note of David Campbell recent article on internal and external actors. His has tendency to emphasise on ethics and internal 'governance'. Peruse and analyse the questions we have done and not to miss out the past years questions. Certainly useful for getting into P1 Jargon.

Best wishes.


Question 1 Case Study:
Utility Services Firm is constructing a new power plant supply located near to forest reserves. Issues are:
 Potential destruction of Flora and Fauna due to construction. Consultants submitted a report on the extensiveness of the damage to government.
 Relocation of nearby villagers
 Government is concerned over political negativity of project
 Investors-clients threaten to pull out if the power plant is not completed in time for the proposed manufacturi…

F8 Audit and Assurance December 2009 Exam Tips


F8 : Audit and Assurance

Lecturer : Marcus Ong

Disclaimer of liabilities: While its advantageous to focus on high risk questions i.e. its likelihood that its examined in the coming exam, but a total reliance on them is detrimental to users' mental and emotional health. Discretion is required!

To my students of F8,

We came a long way, with many tutorials, questions and exam techniques discusse. Remember, you have to know the concepts and understand what part of the systems (namely sales/ purchases/ stocks/ cash/ wages) are being tested.

The following target questions are for your further practice and focus on likely exam questions. It prepares you mentally with a ‘draft answer’. In that at least 50% of the exam answer is prepared while you focus on using case study facts to integrate in your answer.

The target questions are actually covered in my questions bank, lecture notes, revision kit with you. Discuss with your class mates if you must.

Do Your Best,



P3: Practice Question

Pictures : Investing in Your Future

Massachusetts University is an old and run down private institution. Though famous for its Business studies program, many students find the place not conducive for studies. The Dean, Alfred, has pushed for an extension annex building with view to increase class capacity. The Board of Directors, was skeptical over the ability to complete on time and if there is sufficient fund. However, with the proposed construction site, nearby villagers object to it since it means in future increased traffic flow through their already congested roads. Investors are keen only if they are convinced that the project is translated to higher tuition fees, hence better returns on investment.

The business program at Massachusetts does not simply focus on the basic skills a student will need to succeed in business, but also shapes the student's character as a whole. One of Massachusetts’s goals is to develop students into responsible and knowledgea…

PETRONAS' Corporate Governance

Pic 01: The twins that made Malaysia famous

Pic 02: The cash cow for gas station owners

Pic 03: Hassan Merican, Chartered Accountant, the CEO of Malaysia's largest and most globalised company

Pic 04: Ladies, a useful fact for you? Oil & gas industry has smartest,fit-test and good looking engineers than any industry. I know, because my younger brother in ONE! haha!

- Strictly for exam practice in P1 (Professional Accountant). The case study is “sensationalise” to allow scope of corporate governance recommendations.

A DECADE after opening, the Petronas Twin Towers in Kuala Lumpur are no longer the world’s tallest. But Petroliam Nasional, the company that built them, continues to grow. It exports lots of liquefied natural gas (LNG) to booming Asian neighbours and owns the world’s largest fleet of LNG tankers. It is also expanding abroad: last year operations outside Malaysia brought in 42% of its M$264 billion ($77 billion) revenue, up from 35% in 2005. Fore…

Accountant's Job Prospects

I see everyone of you ACCA candidates as a SUCCESSFUL GRADUATE. I decided to enlighten or share with you on the prospects of being an accountant and related fields that require your [future] expertise.

I am pleased to link up with a useful site called The creator is my talented friend, Mr Bill Low. I certainly hope you all can get good information on
- what is audit work like?
- what is happening to the audit tax industry?
- useful tips and the going on pertaining to Big 5 Audit firm.
- imagine, an AUDIT Partner charged with fraud. After the fall of Arthur Anderson, anything can happen!!

Please also enjoy and read up on all Business related articles links on the side bar, so crucial to P1, P3 and P5.

Work very hard today for a better tomorrow!!

Enjoy and best wishes.