ICAEW/ACA Study guides, Class notes & Summaries

Accounting - Answer-A way of recording, analysing and summarising transactions of an entity. Statement of Profit and Loss - Answer-It reflects the performance of a business over a period of time. Statement of Financial Position - Answer-It reflects the position of a business at a point in time. Users of Accounting - Answer-Any organisation/business/individual who needs to keep track of their income, expenses, assets and liabilities. Types of Business Entity - Answer-• Sole trader • Par...

What is the mnemonic for the 5 key elements of assurance engagements? - Answer-CREST What does CREST stand for? - Answer-Criteria, Report, Evidence, Subject Matter, Three Party Relationship How many levels of assurance are there? - Answer-2 What are the characteristics of a reasonable assurance? - Answer-More detailed evidence, only used for statutory audits, gives a true and fair view, positive expression What are the characteristics of a Limited assurance? - Answer-Evidence gathered is l...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

ICAEW ACA LAW EXAM LATES UPDATE CORRECTLY VERIFIED QUESTION AND ANSWERS RATED 100%

ICAEW ACA LAW EXAM LATES UPDATE CORRECTLY VERIFIED QUESTION AND ANSWERS RATED 100%

ICAEW ACA Law Question and answers 2024 verified to pass Contract - CORRECT ANSWER - An agreement which legally binds the parties What are the essential elements of a contract - CORRECT ANSWER - Offer and acceptance, agreement. Intention to create legal relationship consideration. Standard form contract - CORRECT ANSWER - A standard document prepared by many large organisations and setting out the terms on which they contract with their customers. Prepared by the dominant party which ...

Unlock the full potential of your preparation for the ICAEW Business Planning Taxation (BPT) examination with this meticulously crafted summary, available exclusively on Stuvia. Tailored to cater to the needs of ambitious candidates like yourself, this document offers a comprehensive overview of both questions from the official BPT question bank and supplementary questions not found in conventional study materials. This meticulously curated summary is designed to provide you with a competitiv...

ACA [ICAEW] – ACCOUNTING EXAM QUESTIONS AND ANSWERS Books of Original Entry - Answer- 1. Cash Book 2. Sales Day Book (Credit Sales) 3. Purchases Day Book (Credit Purchases) 4. Petty Cash Book 5. Journal Book 6. The Payroll Statement of Financial Position - Answer- SOFP - Snapshot of assets controlled, liabilities owned and capital at a point in time Statement of Profit and Loss - Answer- Income and expenses over a period of time The Business entity concept - Answer- Business transac...