61 TECHNICAL
NOT-FOR-PROFIT
PART 2: CHARITIES RELEVANT TO PAPERS F1, F5, F7, F8, P2, P3 AND P5
The term ‘charity’ refers to the
SEVERAL PAPERS IN THE ACCA QUALIFICATION MAY FEATURE QUESTIONS
THESE INCLUDE PAPERS F1, F5, F7 AND F8. AT THE PROFESSIONAL LEVEL
practice of benevolent giving.
Charities are established
ON NOT-FOR-PROFIT ORGANISATIONS. AT THE FUNDAMENTALS LEVEL,
for general or specific
philanthropic purposes.
They are one type of
not‑for‑profit organisation,
but with several additional
distinguishing features:
¤ they exist entirely to benefit
defined groups in society
¤ as their purposes are
philanthropic, they can usually
avail themselves of favourable
tax treatment, and for this
reason have to be registered
with a regulator
¤ their activities are restricted or
limited by a regulator
¤ they rely on the financial
support of the public or
businesses (or both) in order to
achieve their objectives
THEY INCLUDE PAPERS P2, P3 AND P5.
¤ in order to be financially
viable, they rely heavily on
voluntary (unpaid) managers
and workers.
CHARITABLE ACTIVITIES
In the UK, charities are regulated
by the Charities Act 2006, which
sets out in very broad terms what
may be considered to be charitable
activities, many of which would
be considered as such in other
jurisdictions within most other
countries. These include:
¤ the prevention or relief
of  poverty
¤ the advancement of education
¤ the advancement of religion
¤ the advancement of health or
the saving of lives
¤ the advancement of citizenship
or community development
¤ the advancement of the arts,
culture, heritage or science
¤ the advancement of
amateur sport
¤ the advancement of human
rights, conflict resolution or
reconciliation or the promotion
of religious or racial harmony
or equality and diversity
¤ the advancement of
environmental protection
or improvement
¤ the relief of those in need, by
reason of youth, age, ill-health,
disability, financial hardship or
other disadvantage
¤ the advancement of
animal welfare
¤ the promotion of the efficiency
of the armed forces of the
Crown or of the police,
fire and rescue services or
ambulance services
¤ other purposes currently
recognised as charitable and
any new charitable purposes
which are similar to another
charitable purpose.
The activities of charities in
England and Wales are regulated
by the Charity Commission, itself a
not-for-profit organisation, located
in Liverpool. The precise definition
of what constitutes charitable
activities differs, of course, from
country to country. However, most
of the activities listed above would
be considered as charitable, as
they would seldom be associated
with commercial organisations.
CORPORATE FORM
Charities differ widely in respect
of their size, objectives and
activities. For example, Oxfam
is a federal international
organisation comprising
13 different bodies across
all continents, while many
thousands of charities are local
organisations managed and
staffed entirely by volunteers.
Unsurprisingly, most of the
constituent organisations
within Oxfam operate as
limited companies, while local
charities would find this form
inappropriate and prefer to be
established as associations.
A charity is not forbidden
from engaging in commercial
activities provided that these
activities fully serve the
objectives of the charity. For
example, charities such as the
British Heart Foundation, the
British Red Cross, and Age
Concern all raise funds by
operating chains of retail shops.
These shops are profitable
businesses, but if a company
is formed to operate the shops,
the company would be expected
to formally covenant its entire
annual profits to the charity.
Charities with high value
non-current assets, such as
real estate, usually vest the
ownership of such assets to
independent guardian trustees,
whose role is to ensure that the
assets are deployed in a manner
that reflects the objectives of
the charity.
The guardian trustees are
empowered to lease land, subject
to the provisions of the lease
satisfying requirements laid down
by the Charity Commission.

ORGANISATIONS
FORMATION, CONSTITUTION
AND OBJECTIVES
Charities are always formed with
specific philanthropic purposes
in mind. These purposes may be
expanded or varied over time,
provided the underlying purpose
remains. For example, Oxfam
was originally formed as the
Oxford Committee for Famine
Relief in 1942, and its original
purpose was to relieve the
famine in Greece brought about
by the Allied blockade. Oxfam
now provides famine relief on a
worldwide basis.
The governing constitution of
a charity is normally set down
in its rules, which expand on the
purposes of the business. Quite
often, the constitution dictates
what the organisation cannot do,
as well as what it can do.
Charities plan and control
their activities with reference
to measures of effectiveness,
economy and efficiency.
They often publish their
performance outcomes in order
to convince the giving public
that the good causes that they
support ultimately benefit from
charitable activities.
MANAGEMENT
Most charities are managed by
a Council, made up entirely of
volunteers. These are broadly
equivalent to non‑executive
directors in limited companies.
It is the responsibility of the
Council to chart the medium to
long‑term strategy of the charity
and to ensure that objectives
are met.
STUDENT ACCOUNTANT 10/2009
Objectives may change over
DEPLOYED IN A MANNER REFLECTING THE OBJECTIVES OF THE CHARITY.
CHARITIES WITH HIGH VALUE NON-CURRENT ASSETS, SUCH AS REAL ESTATE, time due to changes in the
GUARDIAN TRUSTEES, WHOSE ROLE IS TO ENSURE THAT THE ASSETS ARE
external environment in which
the charity operates. Barnardos
is a childrens’ charity that was
USUALLY VEST THE OWNERSHIP OF SUCH ASSETS TO INDEPENDENT
originally founded as Doctor
Barnado’s Homes, to provide for
orphans who could not rely on
family support.
The development of welfare
services after World War II and
the increasing willingness of
families to adopt and foster
children resulted in less
reliance on the provision of
residential homes for children
but greater reliance on other
support services. As a result,
the Barnardos charity had to
change the way in which it looked
at maximising the welfare of
orphaned children.
Local charities are dependent
on the support of a more limited
population and therefore have to
consider whether their supporters
will continue to provide the finance
necessary to operate continuously.
For example, a local charity
supporting disabled sports could
be profoundly affected by the
development of facilities funded by
central or local government.
Every charity is confronted
by distinctive strategic and
operational risks, of which the
Council must take account in
developing and implementing
its plans. International aid
charities are vulnerable to
country risk and currency
risk, so plans have to take
account of local conditions in
countries whose populations
they serve. Many such countries
62
may, of course, be inherently
unstable politically.
Operational risk for charities
arises from the high dependence
on volunteer workers, including
the extent to which they can rely
on continued support, as well
as problems of internal control.
For example, many charities
staff their shops with the help of
unpaid retired people, but there is
some debate as to whether future
generations of retired people will
be as willing to do this for nothing.
As many charities have to
contain operating expenses
in order to ensure that their
objectives can be met, it is
often difficult or impossible
for them to employ full‑time or
part‑time paid staff to replace
volunteer workers.
Risks also arise from the
social environment, particularly
in times of recession, when
members of the public may be
less disposed to give to benefit
others as their discretionary
household income is reduced.
There is some evidence of
‘charity fatigue’ in the UK. This
arises when the public feel
pressurised by so many different
competing charities that they feel
ill disposed to give anything to
anyone at all.
Robert Souster is examiner for
Paper F1
Test how much of this article,
and Part 1 of the article
published in the September 2009
issue of Student Accountant, you
have understood on the next page
Answer 3
The council would wish to
ensure that:
¤ the commercial value of
the premises/business has
been assessed by a suitably
qualified valuer
¤ an appropriate rent would be
included in the lease to ensure
that income would be at least
that received under existing
arrangements, and that
appropriate steps would have
been taken to secure the
highest possible rent
¤ the lessee would sign a
covenant to be bound by the
rules of the charity, as well as
any covenants applicable to the
title to the land
¤ the property belonging to
the charity could not be used
in any manner inconsistent
with the aims and objectives of
the charity
¤ any conditions applicable
to the lease would
be applicable to any
subsequent sub-lease, or
that sub‑letting would be
prohibited/restricted
¤ the tenant would be a fit and
proper person.
council of XYZ Charity?
might be imposed by the governing
organisation. What conditions
premises and land to a specialist
outsource the operation of its club
management committee wishes to
persons participating in sports. Its
community facilities for disabled
XYZ Charity provides local
Question 3
Part 1, published in the September 2009 issue.
Test your knowledge by answering these self-test questions – the questions are based on both this article and
CHECK YOUR UNDERSTANDING
Answer 2
There are many motives for
giving to charities. In relation to
charities that finance research
into illnesses and diseases,
such as cancer research, many
people give because they or
their families have been affected
personally by the illnesses and
diseases. They may give to
similar charities such as Marie
Curie nurses (who provide help
for those affected by cancer) in
order to give something back to
those who have supported them.
Some give to charities because
they have a deep‑seated belief
in what the charity does.
A good example of this is
Amnesty International.
A purely financial motive for
giving is to avail oneself of
tax breaks, as most charitable
donations can be set against
tax liabilities.
Some give because they regard
it as an expectation of society, or
because they follow the example
of family and friends.
Another motive for giving is
simply that it makes some people
feel good, or raises their profile
with others.
to charities?
Why do individuals give
Question 2
Answer 1
The measures that might be
used include:
¤ income in donations and
changes in income over time
¤ income by source – personal
donations, corporate
donations etc
¤ responses to campaign
initiatives such as television
adverts, newspaper coupon
advertising, appeals relating
to specific crises, and
collection envelopes
¤ cost containment measures,
such as management costs
and other operating expenses
(this is a particularly important
factor, as some charities are
criticised if administration
costs absorb a high proportion
of income)
¤ income from
commercial activities
¤ numbers of
volunteers attracted
¤ changes in mortality and
sickness in areas where relief
has been provided.
THEY SUPPORT ULTIMATELY BENEFIT FROM CHARITABLE ACTIVITIES.
relief  charity?
might be used by a famine
What performance measures
Question 1
CHARITIES PLAN AND CONTROL THEIR ACTIVITIES WITH REFERENCE TO MEASURES OF
OUTCOMES IN ORDER TO CONVINCE THE GIVING PUBLIC THAT THE GOOD CAUSES THAT
EFFECTIVENESS, ECONOMY AND EFFICIENCY. THEY OFTEN PUBLISH THEIR PERFORMANCE
TECHNICAL 63
 STUDENT ACCOUNTANT 10/2009
TECHNICAL ARTICLES
PUBLISHED IN 2009 RELEVANT TO ALL ACCA QUALIFICATION AND CAT PAPERS
Visit www.accaglobal.com/ ¤ Taxation of capital gains
COMMISSIONED TO WRITE ON AN AREA IDENTIFIED BY THE EXAMINER. THE
students/student_accountant/ ¤ Tackling sales tax questions
archive/ to access these ¤ Refund of Czech VAT to
TECHNICAL ARTICLES ARE WRITTEN BY AN EXAMINER OR BY AN EXPERT
AIM IS TO PROVIDE A SUITE OF ARTICLES RELATING TO A SPECIFIC PAPER.
technical articles from 2009. foreign tourists
¤ Capital gains
Paper F1
¤ Not-for-profit organisations Paper F7
¤ How to prepare for Knowledge ¤ Not-for-profit organisations
module exams ¤ Impairment of goodwill
Paper F2 Paper F8
¤ The risks of uncertainty ¤ Not-for-profit organisations
¤ How to prepare for Knowledge ¤ The IAASB Clarity Project
module exams ¤ Auditing in a computer-based
environment
Paper F3 ¤ ISA 240 (redrafted), auditors
¤ How to prepare for and fraud
Knowledge module exams
Paper F9
Paper F4 ¤ Receivables collection
¤ Exam guidance ¤ Being an angel
Paper F5 Paper P1
¤ Not-for-profit organisations ¤ Corporate governance –
¤ Measuring planning variances external and internal actors
¤ The risks of uncertainty ¤ Professional marks
¤ Risk and environmental auditing
Paper F6
¤ Finance Act 2009 Paper P2
¤ Aggregate to total income ¤ Not-for-profit organisations
¤ Impairment of goodwill
¤ Current issues
¤ Business combinations –
IFRS 3 (revised)
Paper P3
¤ Competency frameworks
¤ Not-for-profit organisations
¤ Business analysis case study
format – changes
Paper P4
¤ The risks of uncertainty
¤ Being an angel
¤ Toxic assets
¤ Share buybacks
65
Paper P5
¤ The risks of uncertainty
Paper P6
¤ Finance Act 2009
¤ Corporation tax – groups
¤ International travellers
¤ Corporation tax
¤ Capital taxes
¤ The taxation of income from
regional hubs
¤ International aspects
¤ Corporation tax and groups:
group relief
¤ Corporation tax and groups: Pt 2
¤ Trusts and tax
¤ The taxation of income from
trusts and settlements
¤ Trusts and tax
Paper P7
¤ Exam technique
¤ The IAASB Clarity Project
¤ Auditing in a computer-based
environment
¤ Massaging the figures
¤ ISA 240 (redrafted), auditors
and fraud
¤ Risk and environmental auditing
CAT Paper 8
¤ The IAASB Clarity Project
¤ Auditing in a computer-based
environment
CAT Paper 9
¤ Finance Act 2009
CAT Paper 10
¤ Short-term decision making
OBU
¤ Preparing your skills and
learning statement
¤ Working best with a mentor
¤ Grade ‘A’ Rap
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RESOURCES
ACCA NEWS
Meet the Simpson Scholarship
winners, networking in Moscow,
global standards, ACCA China Job
Hunting Competition, Global
Economic Survey, ACCA Poland quiz
winner and the green taxes debate

74 QUESTIONS?
ACCA Connect opening hours
and 2009 subscription fees
76 PER RETURNS
75 EXAM TIMETABLE Make your PER return
December 2009 and June by 1 January 2010
2010 sessions
77 EXAM ENTRY
76 EXAM RULES Submit your exam
Important information for entry for the
all students taking exams December session
at the December session

URCES ations at / s T
n
uitio rrently
RESO regul A ’
M m ents
tud o ACC re not c
u
EXA more exa al.com/s ter for s c
rs t a
ribe irectory Visit
b
Read accaglo s and en s:// b
Su der D
i CCA. tudents
. A
g
www examre line htt
p Prov ved by al.com/s
/ n r o b
rules exams o bal.com app accaglo re
.
your l.accaglo www d out mo
a to fin
port
 68 ACCA NEWS
ACCA SIMPSON SCHOLARSHIP:
Student Accountant finds out how the ACCA Simpson Scholarship will help the
In the September 2009 issue
of Student Accountant we
announced the results of this
year’s Simpson Scholarship
awards. Scholarship hopefuls
had to show distinction in their
ACCA exams, and had to submit
an essay entitled How the award
of a Scholarship will help me to
realise my full potential. In this
issue, we find out about the five
scholarship winners, and about
ACCA NEWS
their successful essays.
CATHERINE LEE,
SINGAPORE
‘When I applied
for a Simpson
Scholarship
I thought it
would be a great
honour to win, knowing it was
only presented to students of
sufficient merit. It was a great
surprise when I found out I had
won a scholarship, and I am now
determined to do even better in
my studies to show I am worthy
of the award.
‘In my essay, I explained
how a scholarship would give
me greater exposure within
the finance sector, while also
encouraging me to pursue my
ACCA studies. Although I am
currently based in Singapore, I
aim to return to my home country
of China where the prestige of
the Simpson Scholarship will be a
great help to my career.’
‘My plan is to become an
ACCA member within the next
three years, and then to return
to China to play a small part
in harmonising international
and Chinese accounting rules.
China is growing very quickly
and, as a result, accountants
with knowledge of international
standards are in great demand.
I aim to contribute to China’s
growth, as well as benefit from
its prosperity.’
LUCY
LANGDON, UK
‘I am still in shock
from winning and
am utterly elated.
I also owe thanks
to my employers, Hodgsons
Chartered Accountants, who have
been a huge support and who are
thrilled for me, making me even
more determined to do well in
my studies.
‘I applied for a scholarship to
gain recognition for my exam
achievements but also for a
helping hand as I have young
children, work full time, and
study. This requires considerable
organisation and incurs
significant childcare costs so
the scholarship will make a big
difference to my family.
‘My essay focused on my
life in Cornwall – a wonderful
place, but with limited job
opportunities and above average
bills. Professional training offers
great potential, but is also a
decision which can’t be taken
lightly. I am motivated, however,
by my two daughters, and I am
determined to show them that
hard work and perseverance are
necessary for success. Although
they are too young to understand
the sacrifices I am making, in the
end we will all benefit from my
hard work.
‘I aim to become an ACCA
member in 2011; I hope to
continue working with my
current employer, becoming
more involved in helping local
businesses. Cornwall is a
fascinating place to work, and
will make for a challenging and
rewarding career.’
LEONARD KIOGORA, KENYA
‘I entered for a Simpson
Scholarship because I believed I
was talented, but also because
serious financial difficulties
were slowing my exam progress.
When I found out that I had been
successful my reaction was a
mixture of joy, excitement, and
also challenge – I felt that I also
wanted to leave a legacy, just as
Muriel Simpson FCCA had done,
but I also knew I had to achieve
success in all the areas I had
mentioned in my application.
‘When writing
my essay, I
described how
a Simpson
Scholarship
would help me
become a ‘role
model’ accountant, inspiring
less fortunate but equally
talented Kenyan students. The
scholarship would also help
me become an ACCA member,
equipping me with the skills
and knowledge required to
help my local community make
the right economic decisions,
promote IFRS in Kenya, and help
fight corruption.
‘I currently work for a
small company, but as I want
to achieve membership by
2011, I need to join a larger
organisation to gain the required
practical experience. In the
longer term, I want to become
a partner in an international
accountancy firm.’

WINNER PROFILES
successful five winners realise their full potential
SEHRISH
HUSSAIN
KHAN, PAKISTAN
‘I have always
wanted to
show that I
am among the best in my field
and considered the Simpson
Scholarship as one way to
prove this. Having now gained
a scholarship I want to thank
ACCA for helping me realise my
dreams, and for showing that
anything is possible if you stick
to your goals. The scholarship
has encouraged me to study
even harder, while also giving a
competitive edge to my career.
‘I aim to become an ACCA
member as soon as possible, and
I am keen to continue developing
my career rather than staying in
one position. I also want to give
something back by becoming an
ambassador for ACCA, helping
other students with their studies.’
JUNE KIARIE, KENYA
‘I was ecstatic when I discovered
I had won a scholarship – I
entered not only for financial
assistance, but for the motivation
to complete my ACCA studies.
REWARDING ACHIEVERS: THE SIMPSON SCHOLARSHIP
The Simpson Scholarship was
established after Muriel Simpson
FCCA left her residuary estate to
ACCA in 1977, with instructions
that it fund a scholarship for
ACCA students who prove
themselves of sufficient merit
and distinction in ACCA exams.
Each year, the Simpson
Scholarship funds the ACCA
STUDENT ACCOUNTANT 10/2009
169
Find out more about the Simpson Scholarship
www.accaglobal.com/scholarship/
COMPETENCE REQUIRED TO PROMOTE SUSTAINABLE DEVELOPMENT – IT IS MY LIFETIME
AMBITION TO INFLUENCE MY COUNTRY AND ACCA IS ONE WAY I CAN ACHIEVE THIS.’
‘THE SCHOLARSHIP WILL ENABLE ME TO FINISH MY ACCA STUDIES AND GAIN THE
‘I am particularly interested
in Kenya’s financial investment ACCA
sector, and in sustainable
development, subjects I CRITICISES
discussed in my essay. I
believe that wiser financial ‘LACK OF
decisions translate into better
job opportunities, which are
COOPERATION’
greatly needed in both Kenya
and Africa. I also feel we need to
ON GLOBAL
promote sustainable development
more – through sustainability
STANDARDS
reporting – in order to protect The International Accounting
the environment and thereby Standards Board (IASB) and its
agriculture, a key source of US counterpart, the Financial
JUNE KIARIE, KENYA, SIMPSON SCHOLARSHIP WINNER
income for Kenya. Accounting Standards Board
‘The scholarship (FASB), have come in for sharp
will enable me to disapproval from ACCA, which
finish my ACCA describes the standard-setters
studies and gain as moving ‘at different speeds
the competence and towards different directions’.
required to The criticism followed an
address these exposure draft on proposed
areas – it is my lifetime ambition changes to IAS 39, covering the
to influence my country and classification and measurement
ACCA is one way I can achieve of financial instruments. ACCA
this. I am currently a full-time supports the joint development
university student, but I aim to of new standards between IASB
become an ACCA member in and FASB but says it regrets
the next few years. I then hope the ‘lack of coordination on
to use my degree and my ACCA this the most critical project
Qualification to start my own for a new accounting standard’.
financial consultancy firm.’ Richard Martin, ACCA’s head
of financial reporting, said,
‘There are highly significant
differences in the proposals
which cannot be skated over.
examination and registration It also seems possible that
fees of five students for a IASB will have issued the first
period of five years or until they part of its new standard on
become members – whichever financial instruments before
happens first. FASB has consulted in the US
Winning students also receive on any proposals. This outturn
complete sets of ACCA study of events continues the problem
materials from one of ACCA’s of demands for a level playing
official publishers, BPP Learning field which have prompted some
Media and Kaplan Publishing. adverse developments in financial
reporting over the past year.’
 70 ACCA NEWS

‘SIGNS OF RECOVERY BASED ON

FRAGILE EVIDENCE,’ SAYS ACCA
ACCA has once that business confidence is (31%) were still outnumbered by
again warned recovering more slowly in the those who had lost confidence
world economic third quarter than earlier in the (33%). Nearly 40% reported
leaders not to year, when respondents may that their organisations’ income
confuse less have stopped panicking about a is unlikely to change over the
panic over recession which had seemed to next three months, with an equal
the crisis be out of control. The evidence number anticipating further
with strong is that little has changed in losses of income. Only 22% saw
evidence that trading or orders to suggest that prospects improve. Meanwhile,
the recession a reliable recovery will happen business incomes continued
is over before the end of 2010.’ She to decrease; late payments
everywhere. Its call added, ‘While the situation may and supplier and customer
ACCA NEWS

to guard against complacency
followed its latest quarterly
Global Economic Survey, which
concludes that claims the
world’s economy is recovering
are based on fragile evidence.
Helen Brand, ACCA’s chief
executive. Said, ‘Our survey shows
not worsen, the view is that
a sustained recovery is still
someway off and that many
economies are in a fragile state.’
The survey, which canvassed
1,200 finance professionals in 92
countries, shows that those who
saw improvements in conditions
bankruptcies rose; investment in
staff fell at an accelerated rate;
and investment in capital projects
weakened further.
Confidence was higher in Asia
Pacific, Africa and Central and
Eastern Europe than in Western
Europe and the Americas.

NETWORKING
IN MOSCOW
In August, ACCA Russia
staged a networking evening
in the ballroom of Moscow’s
Leningradskaya Hilton Hotel,
aimed at helping students to
stay in touch with each other
while preparing for exams. This
was in response to feedback
obtained from students, that
indicated that many wished to
find a partner to revise with,
or simply wanted to exchange
information on ACCA with
fellow students.
ACCA Russia also invited those
who had stopped their studies ACCA KNOW-HOW WINS TOMASZ THE PRIZE
to attend, to encourage them Tomasz Kociolek (pictured, centre) is the winner of a quiz organised by
to re-engage and continue their BPP Professional Education in cooperation with ACCA Poland. The quiz
ACCA education. The event was tested students’ knowledge about the ACCA Qualification, including key
well received, and included the dates, syllabus content and learning points. Tomasz won the choice of a trip
opportunity for students to ask to Paris or a free ACCA course – and chose the course. He was presented
questions of ACCA Russia’s with his prize by Małgorzata Sawicka, head of ACCA Poland (pictured, left)
national office. and Wojciech Krynski, managing director of BPP in Poland (pictured, right).

www.accaglobal.com/pubs/about/public_affairs/unit/global_briefings/green_tax.pdf
CHINESE JOB-HUNTING
WINNERS CELEBRATED
Li Tong, an ACCA student at
the University of International
Business & Economics in
Beijing, has won ACCA China’s
Job Hunting Competition held
in Shanghai in July. The annual
contest for university students
is staged regionally in Beijing,
Shanghai, Guangzhou, Chengdu
and Hong Kong.
More than 200 students and
guests witnessed an exciting
and fiercely fought contest,
while live broadcasting on sina.
com enabled the public to
watch at home. The judges were
impressed by Li Tong’s ‘pleasant
and confident presentation’,
especially his ‘professionalism
ACCA URGES GREEN
TAXES DESPITE RECESSION
Green taxation is politically
essential, not just politically
correct, ACCA has pronounced
in a recent paper. But it says
the use of environmental and
green taxation to boost falling tax
revenues needs careful planning
– and warns governments that
carbon taxes will not be the
panacea national governments
are probably expecting.
Chas Roy-Chowdhury, ACCA’s
global head of taxation, says,
‘We’re not advocating tax
hypothecation – where a tax
is explicitly raised to fund the
development of a specific
service. Green taxes need to be
transparent and unambiguous
so the public and business
understand what benefits are
going to result for the potential
STUDENT ACCOUNTANT 10/2009
71
Read ACCA’s paper on green taxation in a recession
Grand
Champonship
winners (left
NEWS IN
to right): BRIEF
Zhang Shu,
Wong On Yu, UGANDA: PASSION URGED IN
Li Tong receive FINANCIAL JOURNALISM
their awards Financial journalism needs
from May passion and accuracy,
Law, director, delegates were told at a
ACCA China forum staged by ACCA and
Uganda’s regulatory body,
when handling the challenge the Capital Markets Authority
questions’. Runner-up was Wong (CMA), aimed at helping
On Yu, of the University of Hong ACCA and CMA understand
Kong, followed by Zhang Shu, how to support accountancy
who studies at the Southwestern and finance journalists
University of Finance & and commentators. Lucille
Economics in Chengdu. Isingoma, country manager
for ACCA Uganda, said
‘Although issues around
the world differ, challenges
remain the same. The more
we understand, the more we
can help.’
pain caused. Public trust in green UNITED ARAB EMIRATES:
tax systems is vital; government ACCA DUBAI HONOURED
and policy experts need to strike a ACCA is among 80
balance between the need to raise businesses presented with
revenues and the environmental certificates of appreciation
objective underpinning the policy. by Dubai Knowledge Village
The trouble is, they’ll hurt.’ (DKV) for its association
ACCA has come up with five with the free trade zone and
key recommendations on green contribution to its success
taxation – the taxes should as a global destination for
be globally coordinated and human resource management
synchronised; they must be and learning excellence.
designed carefully, with results Deepak Chainani, country
analysed; governments should manager for ACCA Middle
consult both the electorate East, said, ‘We opened
and business; benefits must our office in the Dubai
be explained; and taxes should Knowledge Village some five
be explicit and transparent. years ago, and we have both
Roy‑Chowdhury said, ‘Governments greatly enjoyed and benefited
must use tax policy as an from our time in this vibrant
instrument of positive change – business centre.’
that’s the challenge for the future.’
Our training aims to take you beyond
passing, but providing a solid foundation for
work. We cover the syllabus equipping
graduates with the basic competencies
required to deliver their role efficiently in
their organisation.

We offer only the most needed ingredients

for our students, making things simple and
basic without extra luxury. Therefore, we
have low fees and we make education
affordable.

Make us your choice and solution for your

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For ACCA affiliates who want to complete the

OBU BSc Degree, our institution provides
mentoring service to guide you on the
Research and Analysis Project.
 Tough conditions
For opportunities in Advisory,
Assurance, Tax and Firm Services in
PwC SEAPEN Region1, go to:

don’t intimidate us* www.pwc.com/my

Do indicate your preferred position

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So do our clients.
For enquiries, please call Human
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That’s why we continue to invest in the best people to bring value
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entity or, as the context requires, other member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. CS2472
74 RESOURCES

ACCA CONNECT
FEES
Annual subscription – 2009
Please note as a student you are required to
pay an annual subscription for each year you
are registered with ACCA. This is a separate
fee to your initial registration fee. Your annual
subscription is due on 1 January – irrespective
of the month you registered. For example,
if you registered in December, you will still
be required to pay an annual subscription
students@ by 1 January. The payment enables ACCA to
accaglobal.com provide you with services and support to assist
you with your studies and training as you work
towards gaining your qualification.
+44 (0)141 Students who fail to pay fees when due
582 2000 (including exam/exemption fees), will have
their names removed from the ACCA register.
Students wishing to re-register are required to
submit any amounts unpaid at the time of their
removal in addition to the re‑registration fee.
No penalty fee will be charged. Confirmation
of your unpaid fees can be obtained from your
national ACCA office or ACCA Connect.

The following fees and subscriptions apply:

CAT students
Initial subscription £58
For all enquiries, simply contact ACCA Connect – our Re-registration *£58
global customer service centre. However you want Annual subscription £58
to contact us, by phone, fax, email or post, one of Introductory Level exam £37
our expert advisers will be happy to assist you. Intermediate Level exam £37
Advanced Level exam/exemption £42
MONDAY TO THURSDAY
Open 21 hours (closed 20.00 to 23.00) ACCA Qualification and
MSER students
FRIDAY Initial subscription £66
Open 20 hours (closed 20.00 to midnight) Re-registration *£66
Annual subscription £66
SATURDAY Knowledge exam/exemption £50
Closed Skills exam/exemption £60
Professional exam £70
SUNDAY *plus unpaid fee(s)
Open 09.00 to 17.00 and 23.00 to midnight
(all times based on GMT/BST as appropriate) Affiliates
Annual subscription £95
ACCA Connect Permanent subscription £181
2 Central Quay 89 Hydepark Street Glasgow
G3 8BW United Kingdom Don’t forget to pay your fees on time. Dates by
tel: +44 (0)141 582 2000 which fees and subscriptions must be paid and
fax: +44 (0)141 582 2222 arrangements for payment are included in your
email: students@accaglobal.com ACCA welcome pack.
website: www.accaglobal.com
 STUDENT ACCOUNTANT 10/2009
75
Are your contact details up to date?
https://www.acca-business.org

EXAM TIMETABLE Thursday

10 December
4* Accounting
for Costs
09
DECEMBER 20 T F S F9 Financial Management
M T W P4 Advanced Financial
S 3 4 5
1 2
29 30 10 11 12 Management
9
6 7 8 18 19
15 16 17
13 14 25 26 Friday 11 December
23 24
20 21 22 31 1 2 5* Managing People and
28 29 30 Systems
27
JUNE 2010 F2 Management Accounting
S M T MMA Management Accounting
W T F S
30 31 1 P5 Advanced Performance
2 3 4
6 7 8 5
9 10 11 12 Management
13 14 15
The following dates have been 16 17 18
20 21 22 19
confirmed for the next two 23 24 25 Monday 14 December
27 28 29 26
exam sessions: 30 1 2 8* Implementing Audit
3
Procedures
December 2009 F5 Performance
Week 1 7 to 11 December Management
Week 2 14 to 16 December P1 Professional Accountant

June 2010 Papers F1 to F3 are two-hour Tuesday 15 December

Week 1 7 to 11 June exams, and Papers F4 to F9 and 9* Preparing Taxation
Week 2 14 to 16 June P1 to P7 are three-hour exams. Computations
F7 Financial Reporting
Exams will take place over an Monday 7 December P2 Corporate Reporting
eight-day period with one session 1* Recording Financial
of exams each day. The exams Transactions Wednesday 16 December
will be held concurrently in five 6* Drafting Financial 10* Managing Finances
different time zones. The base Statements F1 Accountant in Business
starting times in each of these F6 Taxation P3 Business Analysis
time zones will be: P6 Advanced Taxation
¤ Zone 1 (Caribbean) – *CAT Scheme exams
08.00hrs Tuesday 8 December
¤ Zone 2 (UK) – 10.00hrs 2* Information for
¤ Zone 3 (Pakistan and South Management Control DETAILS OF
Asia) – 14.00hrs 7* Planning, Control
¤ Zone 4 (Asia Pacific) – and Performance LOCAL START TIMES
15.00hrs Management CAN BE FOUND
¤ Zone 5 (Australasia) – F4 Corporate and
17.00hrs. Business Law AGAINST EACH
P7 Advanced Audit CENTRE OF THE
Local starting times will be and Assurance
set falling out from these base EXAMINATION
start times for every centre. Wednesday 9 December CENTRE LIST
Details of local start times can 3* Maintaining
be found against each centre Financial Records ACCOMPANYING
on the Examination Centre List F3 Financial Accounting YOUR EXAMINATION
accompanying your Examination MFA Financial Accounting
Entry Form. F8 Audit and Assurance ENTRY FORM.
76 RESOURCES
EXAM RULES
Important information for all students taking
exams at the December 2009 exam session.
1 You are required to comply in all respects with any instructions
issued by the registrar, exam supervisor, and invigilators before and
during an exam.
2 You may not attempt to deceive the registrar or the exam supervisor
by giving false or misleading information.
3 You are not allowed to take to your exam desk, possess, use,
or intend to use while at that desk, any books, notes or other
materials except those authorised by the registrar. If you
are found to have taken to your desk, or possessed while at that
desk, unauthorised materials which are relevant to the syllabus
being examined, it will be assumed that you intended to use
them to gain an unfair advantage in the exam. In any subsequent
disciplinary proceedings, it shall be for you to prove that you did
not intend to use the materials to gain an unfair advantage in
the exam.
4 You may not assist, attempt to assist, obtain, or attempt to obtain
assistance by improper means from any other person during
your exams.
5 You are required to adhere at all times to the Instructions
to Candidates, which you receive with your Examination
Attendance Docket.
6 You are required to comply with the exam supervisor’s ruling.
Supervisors are obliged to report any cases of irregularity or
improper conduct to the registrar. The supervisor is empowered
to discontinue your exam if you are suspected of misconduct and to
exclude you from the exam hall.
7 You may not engage in any other unprofessional conduct designed
to assist you in your exam attempt.
8 You are not permitted to remove either your script booklet or your
question paper from the exam hall. All exam scripts remain the
property of  ACCA.
9 Once the exam has started, you are not allowed to leave the exam
hall permanently until the end of the session and then only when
instructed by the supervisor.
PER RETURNS
All ACCA Qualification students need to make an annual return to
ACCA as part of the practical experience requirements (PER). Even
if you are studying on a full-time basis or not yet gaining relevant
training you need to do this by 1 January 2010. So what are you
waiting for? Login to myACCA (https://portal.accaglobal.com/) and
complete your annual return now.
OXFORD
BROOKES
BSc (HONS)
Students completing certain papers of the
ACCA Qualification are eligible to apply for
a BSc (Hons) in Applied Accounting from
Oxford Brookes University.
The degree must be completed within
10 years of your initial registration onto
ACCA’s professional qualification; otherwise,
your eligibility will be withdrawn. Check your
eligibility status at www.accaglobal.com/
students/bsc/.
The dates below outline the forthcoming
deadlines for completing the qualifying exams
and the last opportunity to submit your
Research and Analysis Project (RAP):
First session (1) Final session for Final date for
completing submission
the qualifying of RAP
exams (2)
December 1999 June 2009 November 2009
June 2000 December 2009 May 2010
December 2000 June 2010 November 2010
Notes
1 First applicable exam session as confirmed at
the time of your initial registration with ACCA.
2 Completion of Fundamentals Level exams.
Professional Ethics module deadline
Students wishing to submit their RAP in
November must complete the Professional
Ethics module by 15 October. For
more information visit www.accaglobal.com/
students/bsc/
 STUDENT ACCOUNTANT 10/2009
77
Enter for your exams online at myACCA
https://portal.accaglobal.com/

STANDARD
EXAM ENTRY

THE CLOSING DATE FOR STANDARD

In order to attempt exams at the
next session you must submit an
exam entry. The closing date for
standard entries to be received
is 15 October 2009 for the
December 2009 exams.
The online facility on myACCA
is the fastest and easiest way to
enter for your exams. This provides
immediate acknowledgement of
your entry and allows you to make
subsequent changes to the centre
you have chosen and the paper
versions selected.
If you do not have access to
the online facilities on myACCA
you can complete and submit
the Examination Entry Form sent
EXAM ENTIRES FOR THE DECEMBER
2009 SESSION IS 15 OCTOBER 2009.
to you in August. Please note you should confirm whether
that due to the volume of entries your entry has been received by
received it is not possible for viewing your status on myACCA
ACCA to process examination or contacting ACCA Connect
entry information received by on +44 (0)141 582 2000 or at
email, fax or any paper format students@accaglobal.com
other than your Examination Entry Exam fees for the December
Form. Payment must be included 2009 session are:
with your entry and you should
only submit credit or debit card ACCA Qualification
details on the relevant section of ¤ Knowledge exam £53
your Examination Entry Form. ¤ Skills exam £66
Please use only one method ¤ Professional exam £78
of exam entry, as multiple
applications may result in CAT qualification
duplicate fees being charged. If ¤ Introductory level exam £37
you have not received this seven ¤ Intermediate level exam £37
days prior to the closing date, ¤ Advanced level exam £42

ACCA December 2009

ACCA December 2009 Revision Courses

Residential & non-residential facilities Licensed CBE centre Platinum Accreditation & Published results
Limited spaces on the revision courses below Special discounted fee
F1 £200 +VAT now £150 + VAT P1 £368 +VAT now £331 + VAT Enrolments received after 28 September will be
F2 £200 +VAT now £150 + VAT P3 £368 +VAT now £331 + VAT eligible for the discount offer for the December
F3 £200 +VAT now £150 + VAT P5 £331 +VAT now £298 + VAT sitting. Contact us now to check availability and
F5 £345 +VAT now £300 + VAT P6 £410 +VAT now £369 + VAT to book a place.
F6 £360 +VAT now £325 + VAT P7 £368 +VAT now £331 + VAT Call Debbie Morton on 01608 674224
F9 £360 +VAT now £325 + VAT or email debbie.morton@reed.co.uk

The Manor, Little Compton, Nr Moreton-in-Marsh, Gloucestershire GL56 ORZ T 01608 674224 F 01608 674518 E rbs@reed.co.uk W www.reedbusinessschool.co.uk
78 INTERACTIVE

SEND US
YOUR VIEWS
SHARE YOUR TIPS, STORIES AND
EXPERIENCES WITH STUDENT
ACCOUNTANT AND WE’LL PUBLISH
THE BEST
Do you have any tips on CV writing, job hunting
or developing a good interview technique?
Perhaps you have some funny or insightful
stories to tell about a recent job application
that went well (or not)? Or any key dos and
don’ts of job applications that you can share with
other students?
Share your experiences with us and your fellow
students by emailing studentaccountant@
accaglobal.com
We will publish the best words of wisdom in
a forthcoming Student Accountant feature, and
those students whose advice is published will
receive a copy of one of James Innes’s books
on CV writing, interview technique and writing a
cover letter.
 STUDENT ACCOUNTANT 10/2009
79

SURVEY
Answer our survey on how you chose
your tuition provider and be in with
a chance of winning one of four
e-pens Mobile Notes sets, courtesy
of e-pens (www.e-pens.com).

STUDY OPTIONS QUESTION 2

Choosing how you are going to study will be one of Did you look at ACCA’s tuition provider database to select tuition
the most important decisions you make during your providers in your area?
time preparing for the ACCA Qualification or CAT Yes No
exams. Will you study with a tuition provider, or at
home? How do you decide, from all the institutions QUESTION 3
offering tuition, which will be most suitable for What do you look for in a good tuition provider?
your needs? Access to lecturers outside of lectures
There are numerous tuition providers and a wide Good value courses available
variety of different study methods, so selecting Revision classes
the one which is right for you can be difficult. If Quality textbooks
you choose to study with a tuition provider, ACCA Access to the internet
strongly recommends you opt for one which is Reputation
approved under ACCA’s Approved Learning Partner – Other
Student Tuition programme.
Search for a tuition provider using ACCA’s Tuition To be in with a chance of winning one of the e-pens Mobile Notes
Provider Directory available at www.accaglobal. packages, answer the following question and submit your email
com/students/study/choose address, student registration number and name.

PRIZE SURVEY How many Approved Learning Partners does ACCA have as of
e-pens Mobile Notes enables you to take handwritten September 2009?
notes in any location. The small, portable e-pens 10 199 10,000
base unit can be clipped to a notepad to capture
handwriting using the special digital ink pen YOUR DETAILS
provided. The base unit can then later be connected Name Email address
to the USB port of a PC or laptop to upload, save
and edit the handwritten content.

QUESTION 1
How did you choose your current tuition provider? Student registration number Press ‘submit’ to enter
Studied with them before
Personal recommendation SUBMIT
Visited the tuition provider and liked what
they offered
*RULES OF ENTRY
The price was right
One name will be drawn at random from all submitted survey responses provided you have
Offered extra courses that I was interested in included your email address. The prize draw will take place on Wednesday 28 October 2009,
addition to ACCA/CAT studies and the winner will be notified after this date. No correspondence will be entered into, and
Other the editor’s decision is final.
80 CLASSIFIED

accaglobal.com/economy

ECONOMIC
ACCA @
OR

accaglobal.com/economy

CHALLENGES:
YF
UD

NEED HELP?
ST

Zenith Un
iversity C ECONOMIC
One place you can look is ACCA’s global
CHALLENGES:
economy microsite, which contains a range
oll

University
Zenith

ege

of useful resources. The site aims to provide

NEED HELP?
NCE
CE N

College
L LE

PE
RA
TR

RA
RDUA AD AST
OR
CE
EF

EX

professional accountants with quick access to

PR IC
OFE SSIONAL & ACADEM

relevant
Oneresources, including
place you can ACCA’sglobal
look is ACCA’s technical
QUALIFIED & RELIABLE LECTURERS FREE ACCESS TO INTERNET economy microsite, which contains a range
thought leadership on global economic
of useful resources. The site aims to provide
FREE STUDY MANUALS WELL STOCKED LIBRARY conditions, and aaccountants
professional range of useful support
with quick access to
relevant resources, including ACCA’s technical
EXCELLENT LEARNING & TEACHING ENVIRONMENT services. It also offers tips on business
thought leadership on global economic
strategy,
www.zenithcollegeghana.org
careers and professional
conditions, and a range development.
of useful support
services. It also offers tips on business strategy,
Contact: ACCA Advisors or Registrar careers and professional development.
Mr. Commey (027.4306 810), Mr. Pius (024.4374 788)
E-MAIL: commey@zenithcollegeghana.org

You may also obtain information on ACCA from

info@gh.accaglobal.com OR
www.accaglobal.com/contact/connect
 STUDENT ACCOUNTANT 10/2009
81

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82 DIRECTORY

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 student accountant 10/2009
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 Hard w
is the k ork
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elieves
have the you sho
uld

ey to
opportu
qualify a nity to
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