Showing posts from 2010

May The Force Be With You

Pic 01: "Biggest enemy is the enemy within. Do your Best!" (Obi Wan Kenobi of Clone Wars Season 1 series) Morale: Do what you can, not what you can't

Dear Hard working F8 Candidates,

I received numeorus requests such as:
1. what topics to spot?
2. to conduct lecture again catering to long technical questions
3. to resent answers scripts(?)

I note you are anxious over the coming exams. My best advise is at this advance stage of so close to the exam, concentrate on:

i) understanding exam language say distinguish between Audit Procedures & Assertions on Non Current Assets (Substantive tests & reasons) with Audit Assertions & Procedures on Purchases System (Substantive tests + Test of Controls & reasons)

ii) practice and review the IRC question bank, CBE I, CBE II & CBE III. Classes question bank Part 1 & Part 2. With time constraints, its a challenge to understand all theories, for its not necessary you can answer them. So, work backwards, to understand the…

Aggregated Immateriality is Material - F8's ISA 320

Pic 1: What, prices have gone up? How can??
Pic 2: I want to tell mommy!

Dear Hard Working Candidates,

I am pleased to have send out all the marked scripts on Dec 01, 2010. But I was shocked to be advised by Letter Man the mail is 80 sen stamp. Wah Lau!(Singaporean slang) That is is more than 180% increase from last time. And its not 60sen stamp as many told me. May be small to you, but its aggregated Immateriality, it's material! (ISA 320 of F8) There goes my lunch money for weeks.

Pic 03: Now say this 3 times, "I am the most hard working baby in class." There, it's not so hard, is it?

Well, its for the better future for YOU! A good thing. I am happy to invest in you with my effort, expertise and time resources. I hope you invest more in yourself in time, sweat, determination, adrenaline than anyone.

Do your level BEST!
Marcus Ong - Lecturer with no lunch money

F8 : Intensive Revision Class Starts on 18th November, 2010, 8.30am to 5.00p.m

Dear F8 Hardworking Candidates,

I want to give assurance that all of you matters in terms of maximising your success in exams especially F8 which is termed one of the most challenging paper. In this connection the Intensive Revision Class will be for period 18th - 21th and 26th November, 2010. This is to accommodate our Muslim brothers and sisters service on the public holiday, 17th November. Its neigbourhood ethical principle to respect the religious practice of our bethrens just as much as you would respect a Buddhist monk's vegetarian diet.

I am well aware that it means taking additional leave. But I hope you see this as an investment to your future. Many pay a fortune to attend seminars and training but you are pursuing a worthwhile ACCA qualification.

I thank you all for your maturity and understanding of the matter and promise will give you a highly constructive exam focused revision approach for F8. To share a motivating experience, there is a candidate who tried four ti…

F8: Answer for Audit Report

Dear Hard-working ACCA F8 Candidates,

Pleased to provide the answer below for your good reference.

Work HardER,

Answer E for Question on Audit report
ISA 260: Reports to Management requires auditors to communicate with management over the following matters namely:
• Ethical threats discovered during the audit engagement that may question the Professional due care, independence, objectivity and integrity of the audit team members and/or engagement partner.
• Stating the overall scope of audit and its limitation especially highlighting reliance on client’s internal controls and the limitations of using sampling when performing Test of Details substantive test.
• Highlight the significance of accounting policies change impact on client’s presentation of accounts.
• Requiring significant audit adjustments. This means the item misstatements have exceeded AUDIT THRESHOLD.
• Significant disagreement with management on Financial Statements and/or Disclosures.
• Expected Audit Report Modi…

Would you like to 'earn' (Unethically & Immorally) RM25million (US$8.34 million)?

Relevant to P1 and P7

Pic 01: Quiz: Which two directors are charged for corruption? One is from Singapore and another is a "Datuk". (Clue: Read the article below)

Pic 02: Profitable Monkey Business?

Dear ACCA Candidates,

We are all taught to calculate Risks and Rewards Balance. What if your spend 2-10 years in a business with some hardship of long ‘idle’ hours but assured of Returns based on no investment of RM26 million? Interested? Well, Malaysia Legal and Corporate Governance would afford your such opportunity. If caught, you get to spend 'idle' time in Sg. Buloh jail.

Two directors of a Public Listed company, Multi-Code Electronics Bhd, were accused of cheating the company of that amount. The punishment is… are you ready? – minimum 2 years imprisonment, extendable to 10 years with early discharge for good behaviour. Here is the unethical part, you only pay a fine of RM1 million and that is maximum! Yes, you get to keep the balance of RM25 million. Where is the justi…

Uncles Tans and Aunties Maggies that Never Learn

- related to F8, P1 and P7 ACCA students

From Left to Right:
Pic 1: Uncle, got burned?
Pic 2: Perhaps I should listen to my ACCA son studying F8 on avoiding poor Corporate Governance firm?
Pic 3: Do you board a plane after knowing the pilots are negligent? What about Executives on Board?

In 2008, I highlighted in F8 classes the working tools of corporate governance involving External Auditors. (Please visit earlier blogs below). OilCorp executive directors were adamant on their accounting treatment for valuation of asset upgrades involvingi RM20 million in which auditor Baker Tilly disputed.

As shareholders, one will be wise to heed the 'check and balance' call from External Auditors. Surprisingly, Oilcorp berhad's shareholders were 'upset' with External Auditors for causing the fracas and resulting in shares sell down. You know what- shareholders in AGM voted to replace the External Auditors!! Whose duty it is to prepare Financial Statements? Why are auditors punishe…

S$3,000 (RM6,983) Monthly Salary Sustainable?

relevant to hardworking ACCA candidates

Above pictures: Singapore. An Attraction?

Dear ACCA Candidates,

Yep, that's right. When you graduate from ACCA, RM6,983.00 per month pay is what you attract working in Singapore. That is without experience! But is it sustainable? Singapore has attracted more than 500,000 talents issuing them Permanent Residence. Now the locals are worried they were outnumbered, out-competed and outside the rapid Singapore economic growth. Thus the public dissent.

What a happy problem they have! Too many talents lead to further strong growth. Please refer to P3 (Business Analysis, ACCA) on Porter's Diamond Theory. There are every indication that the world's 9th richest economy will have stronger growth than even developing economies like BRIC Countries.

There are many Malaysian talents there, but they are invited to convert PR to Singapore citizenship, many declined as this means giving up Blue IC or Malaysian citizenship. Looks like Singapore is a pl…

Ethical Dilemma : Should Batman kill the Joker?

- relevant to young, curious and energetic people
- relevant to P1 (PA) and P7 (AAA)
- don’t forget : rate this article by ticking the boxes below.
- Your comments are fun and insightful

From Left to right:
Pic 01: Hey pal, time to change to anti-dandruff shampoo
Pic 02: Joker on wickedness, "I am ahead of the curve."
Pic 03: All dressed up for F8 class. A Battle, man.

Visit "Batman Dark Knight" video

Studies can be fun. In ACCA, don’t hesitate to apply to fiction or non-fiction scenarios. Even famed comic heroes have something to teach us. Now, I am not saying this is a green card to go cinemas at the expense of your responsibility to spend hours on end poring over books, lecture notes and question bank.

Just interesting to note that P1 appeals to our inbuilt morality, the need to do the acceptable thing. Here is one example – Batman.

For years, fans of the Batman comics have puzzled over a mystery at the heart of the series: why doesn't Batman just kill his arch-nem…

Ethical Dilemma – Spiderman Perspective

- relevant to young, curious and energetic people
- relevant to P1 (PA) and P7 (AAA)
- don’t forget : rate this article by ticking the boxes below.
- Your comments are fun and insightful

Pic 01 Ethical Dilemma: Is Peter Parker morally obliged to be a superhero? (Image courtesy Marvel)

Spiderman, a Marvel Comic hero, is serious business both as box office smashing success and an ethical dilemma. Is it true that great powers come with great responsibility? Initially Peter Parker didn’t think so. Who cares is the attitude? Ethics will have it as “love your neighbour as yourself” and “Do unto others if you want others do unto you”.

"Philosophy starts with Socrates in the streets of Athens taking his message to the people and speaking in their language - agricultural analogies and common mythology." Through the centuries, though, philosophers retreated into academia, creating a convoluted vocabulary that can appear inaccessible to the average first-year university student - those &q…

British Petroleum : UK Governance at Play

- related to "7-11" P1 ACCA students
- please don't forget rate the article in the tick boxes below

Pic 01: Outgoing CEO (Forefront) with Incoming CEO (Background)

Watch the video on "Media Pressure" on BP.

United Kingdom’s strong governance at play with such effectiveness that USA President Obama has turned from anger to emotional appeal that British Petroleum giant oil company should stay and demonstrate repentance by cleaning up Mexico Gulf and contributing to American economy. Note the articles below on:

1. Governance tool: Transparency principle in that BP reveals action to shut the spill soonest within a week
2. Chairman’s tool: Through Nomination committee replaced the ineffective CEO
3. Chairman’s tool: As spokesperson for BP, met and appease USA President
4. Remuneration Committee: Set the severance pay for outgoing CEO
5. Media pressure a form of governance: Attention on the new CEO’s actions. Praises and encouragement for him
6. iNEDS tool: Have a succession …

Conglomerates : Governance and Strategic Issues

- related to P1 and P3 ACCA Candidates

- please rate this article according to the categories below :

Pic 01: Humble machine that destroyed Xerox?

I have the bitter-sweet experience having John Zinski, CEO of of Securities Industry Development Corp - the training and development arm of the Securities Commission, as my facilitator when I pursued my Master of Science postgraduate studies in Nottingham (U.K) University. We didn’t quite meet eye to eye on my research analysis on “Why Xerox failed?” My supposition was that its Board was short termistic in relations to EPS (Earnings Per Share) zealously cutting costs and outsourcing its primary activities.

Its strategic collaboration with Fuji (Japan) Limited saw the gradual loss of its core competencies pertaining to knowledge on developing low end photocopiers. Xerox didn’t mind that Fuji Limited was sending over 1,000 engineers to swarm all over its factories including the Research and Development division. …

Where did the RM40 Billion Public (Taxpayers) Funds Go?

- relevant to ACCA F8, P1 students and concerned Malaysians

Pic 01: Corporate Governance Pillar

Birth of United Kingdom Corporate Governance
Sir Adrian Cadbury was concerned with the unfettered powers vested in Executive Directors. Indirectly referring to the Maxwell Scandal where the CEO was also Chairman and dominates the Board of Directors. The resulting effect was siphoning employees hard earned pension fund for his own benefit. A case of Agency Problem with insufficient safeguards. Hence the Cadbury Report requires the principles based compliance that Board is to ensure the independent monitoring of CEO by Chairman.

However, many companies pay lip-service in failing to appreciate the "spirit" of the Code. These Malaysian Companies and by extension the Malaysian governmental administration has many conflicts of interests.

Case Study
For instance, TA (M) Securities Berhad former CEO Datuk Tiah was convicted of corruption and imprisoned. He was barred from holding any executo…


- relevant to ACCA Students

Pic 01 (left) : Tuition Provider offering added value ELC
Pic 02 (Right) : Express class like a modern, yet effective TGV train. Come aboard and enjoy our classes.

New semester has begun. Confident that all you ACCA candidates have good holiday, recuperative breaks last 2 weeks.

So happy to share with you aspiring and ambitious students that Kasturi College International has introduced EXPRESS LEARNING COURSE in August 2010 designed to benefit:

1. July 2010 intake students to revise the topics covered with sharpening exam techniques. This is a pre-revision sessions to ensure topics covered are re-visited by our able-minded lecturers

2. August 2010 latecomers who want to only start classes at this stage.

3. August 2010 intake students who may need to re-attempt the papers so as to close the loop with the July 2010 batch.

Please note that each lecturer have their own unique approach to manage the EXPRESS LEARNING COURSE. All of this is added to enhance you ACCA Can…


- relevant to aspiring hard working students
- Please rate this article in the tick boxes as "MOTIVATING" , "INTERESTING" OR "NEUTRAL" below

Picture 1: Scholarship Cheque payable DIRECTLY to student

Picture 2: KASTURI's LECTURERS ACHIEVEMENTS. We produce top students, are you the next top student?

I remember once, when I was a student, one classmate sarcastically said that I worked (in study) so hard that I put both the Japanese salarymen and bees to shame. I took that positively as it means I am on right track to achieve ACCA SUCCESS. I was studying for the A-Levels course at that time. I wanted to be No.1 as the college offers CASH REWARDS which almost covers the tuition fees. Sadly, I got No.3 position out of 280 students. That wasn't good enough.

A deja vu, I thought maybe there are still students like this, so Kasturi College offers 50 scholarship awards to such students.

NO FREE LUNCH, not even lottery winners

Picture 3: Its not how much you win…


- relevant to ACCA under-graduates without a University Degree

I am pleased to share the joys with November, 2009 batch of Oxford Brookes Universtity research students who graduated. All have achieve and earned the degree - a 100% pass rate! What a joy and priviledge to work with such industrious students. Now they can lift their heads high and boast that they are now Square Head people since they qualified to wear the Square Hat.

At Kasturi College, its a no-frills college where we take you there - Graduate. For comparisons, Japan Airlines offer a flight in First Class destination route from Kuala Lumpur to Beijing the price which is "10x" the price of what Air Asia offers! The well-to-do clients will opt for the former while I believe the mass wants the latter so long as :
- Air Asia has strictly adhered to its safety policies
- Air Asia has track record which it did in ferrying over 4 million passengers a year.

Similarly, at Kasturi College, we 'fly' you to your dest…

Beijing Men : Handsome and Talented

- relevant to all ACCA undergraduates
- Please rate this article in the tick boxes below

Pic 01: Beijing Finance District
Pic 02: Great Wall : Symbol of Chinese Culture that anything is possible!
Pic 03: Malaysia's very own brand in the most expensive district in Beijing

Unbelievable! My response. Beijing, the capital and political power hub of China is both rich with history and modern amenities. Its roads are straight, 5 lanes on one side, adorned with most facinating modern architectures. Passing the most expensive street, one can witness amazing mammoth buildings. Was told by locals that the rich and famous will shop in the most prestigious ginza - Parksons! Yes, locally listed albeit undervalued stocks in Malaysia.

Pic 04: Kasturi College's lecturers are proud to be associated with these hardworking students of China.

I have the priviledge to witness the award ceremony for Top Prize winners in China. Kasturi team of lecturers have done well. No, done superbly well! One student…

AUDIT REPORT 2008 : CB Industrial Product Holding Berhad

- RELEVANT TO F8 (AA), identifying the components of an AUdit Report.

Independent Auditors’ Report
to the Members of CB Industrial Product Holding Berhad

Report on the Financial Statements
We have audited the financial statements of CB Industrial Product Holding Berhad, which comprise the balance sheets as at 31
December 2008, and the income statements, statements of changes in equity and cash flow statements for the financial year
then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 35 to 80.

Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation and fair presentation of these financial statements in
accordance with Financial Reporting Standards and the Companies Act 1965 in Malaysia. This responsibility includes designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that
are free from material miss…

European Flights crisis - An opportunity!

- related to CAT/ACCA undergraduates
- related to ACCA graduates upgrading to CFA (Chartered Financial Analysts)

Please rate this article with tick boxes below

Pictures (from Left to right)
01: Volcanic eruption gives blur skies
02: This is the BEST relaxing holiday, ever
03: European Pilot: I have time off now, would you have dinner with me?
04: Air Asia Pilot: I can take you to greater heights.

LEPEST affects every firm and individual
Aeronautical industry is most vulnerable to LE PEST factors. Currently, Europe has to suspend flights due to ecological volcanic eruption and disruptions. Really, all firms and individuals are not immune to external threats which can be opportunities too.

For ACCA, CAT and CFA students, there is a threat of ever increasing tuition fees, but this could also be an opportunity! How?

As to common knowledge (I hope) Kasturi College in both PJ and KL charges a fee which is substantially LOWER than other tuition providers - a whopping 50%. (For Location please visit :

ACCA is so tough. Really?

- related to all ACCA & CAT candidates
- Please rate this article at the bottom or feel free to insert your comments. Exercise ethical language, please.

Pic 01 & 02: Koreans won international admiration both in drama and corporate success. Its human nature to admire the successful.

Oh...ACCA studies are so difficult. I nearly (but don't please) want to give up. What is the problem here is not so much as difficult and (very true) tricky exam questions such as seen in F8 (Audit & Assurance). But the greatest enemy is really "SELF". You are your own worse enemy.

Korean History
Humans are capable of marvellous achievements. Think of it, Korea as an entire country obliterated by war. Splitting the country into North and South Korea in 1950's. Lives of loved ones lost, wealth destroyed, families permanently separated by political boundaries. In fact South Korea was POORER than Malaysia in 1970!

Pic 03: New Korean threat to Japanese automakers. Will you be to your r…