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Study Zone

Carillion fallout: FRC ‘under threat’

The future of the Financial Reporting Council has been thrown into doubt after the government promised an independent inquiry into its whole operation.

The social network

The ICAEW’s student societies are thriving – so why not get involved?

PSCs: a question of control

What is a PSC and how does it work? Here’s what Companies House has to say...

Helping you to help yourself

ICAEW gives PQ a round-up of what students need to know this Spring

Blockchain and the future of accountancy

With bitcoin seemingly always in the news there’s much interest around the blockchain concept. David Lyford-Smith explains what it is and how it works

Keeping it real

Philip Dunn explains the importance of financial statements and who they are of most use to

Ready for the fourth industrial revolution?

PQ dropped into the ICAEW HE conference to hear how the future might look for today’s trainee accountants

Why it pays to go online

Your online training file will help you get the most of your training experience, says Nicola White

Charting your path to a pass

For ACAs, keeping their online training file up-to-date is essential, and easier than they may think. Nicola White talks you through the process

Still room for improvement in corporate reporting, says FRC

Regulator expects more detail and less ambiguity, according to report

Making Tax Digital: VAT

Despite delays to various staging post dates, the government’s digital agenda juggernaut is rolling on…

Keeping ahead of the robots

Keeping ACAs’ skill set ‘on the mark’ is the job of Alison Stiles. PQ magazine went to ICAEW HQ to talk to her about future-proofing the professional qualification

Passing the BPT paper

Jenny Gilbert has some top tips on how to get through this tough exam

Boost your career options

ICAEW unveils new designation for ambitious PQs who want to show commitment and drive

Your guide to the revised CTA exam

The CTA qualification is getting a major overhaul – and it is looking good

ICAEW unveils BFP qualification

Following discussions with leading employers, the ICAEW has launched a new PQ qualification – the Business & Finance Professional (BFP).

A bright future

Two ACAs explain how the ICAEW qualification has help boost their careers

How to give great financial presentations

Peter Simons has some advice on an activity that scares many of you witless – giving a presentation to your firm’s top brass

Time to end ‘illogical’ intangible asset rules

The disclosure of intangible assets remains disappointingly low, with $35trn (or almost three-quarters) of global intangible value not reflected in 2016 balance sheets, says Brand Finance.

Dealing with a corporate trading loss

Victoria Cavell explains how companies can use trading losses to their advantage

Are you ready for GDPR?

Brian Palmer explains significant changes to the data protection laws that will come into effect in 2018 and will impact on your firm

Make the most of the ICAEW learning materials on offer

ICAEW has a vast array of online resources to help you get a pass

Access all areas

Discover everything you need to know about access arrangements and special consideration for the exams

Drones are coming to an audit near you

Wave goodbye to your calculator, the accountant’s new best friend could be their pet drone!

IASB’s IAS 12 clarification

The International Accounting Standards Board has issued IFRIC 23 Uncertainty over Income Tax Treatments, to specify how to reflect uncertainty in accounting for incomes taxes. The board explained that it may be unclear how tax law applies to a particular transaction or circumstance, or whether a taxation authority will accept a company’s tax treatment.

Making the right choices

The ICAEW has been told by the Financial Reporting Council (FRC) that students who sit and pass the Financial Accounting & Reporting: UK GAAP exam, and the future Corporate Reporting: UK GAAP exam will not be eligible for the Audit Qualification (AQ).

Standard overhaul 20 years in the making

The International Accounting Standards Board has now issued its overhauled IFRS 17 Insurance Contracts.

Master the Certificate level: the conclusion

In the final part of our series on the Certificate Level we focus on Principles of Taxation and Law. Discover the common mistakes in the Principles of Taxation exam, and find out exactly what you will be learning in law

Can cheats prosper?

Accountancy bodies have no plans to beef up their exam invigilation following reports of a surge in hi-tech cheating at universities.

Master the Certificate level

We focus on the Accounting and Assurance exams. Here Philippa Hood and Charlotte Lewis explain all you need to know to help you best prepare for success in the exam hall

Don’t go to pieces over leases

Claire Oglesby explains all you need to know about leases in the form of some top tips

Booking issues for ICAEW

ICAEW has had problems with its booking system for the June exams.

Colour me VAT

HMRC sets out the VAT treatment for colouring and dot-to-dot books – is it simply child’s play?

Check in at Boots for a VAT refund

Who should pocket airport VAT refunds? Graham Hambly asks the question

National insurance and the level playing field

John Colville outlines how NI works and why some consider it controversial

Mastering the Certificate level

Here we offer hints and tips on how to approach the six modules of the Certificate Level exams. To get started, here is more on Business and Finance and Mangement Information

Excel training free for ACAs

The ICAEW has reminded all its students that, in partnership with the institute’s IT faculty, ACA students can avail themselves of a free online Excel training course.

FRC wants the right to sanction all directors

The UK’s biggest public companies have been put on notice – the Financial Reporting Council (FRC) wants to be able to take disciplinary action against all individuals for breaching financial reporting rules.

Are you prepared for your six-monthly review?

Here are six pertinent tips to help you prepare for your twice-yearly appraisal

ACCA CBEs: Be a session player

Judith Bennett explores the practical ways that you can tackle ACCA’s F5–F9 exams

Audit isn’t sexy enough anymore

The audit profession is at a tipping point.

Technology is king

Wow Company’s Paul Bulpitt says it’s time for accountancy firms to get with the program and get IT savvy

Tackle ethical issues in a strategic way

Lee Rowlandson addresses the ethics topic (question 2.3) that appeared in the December 2016 exam

A question of support

The ICAEW offers advice on how it is helping its students to help themselves

IFRS: a model answer

Martin Jones sets a question on equity and debt – and provides a specimen answer

Get ready for the CBEs

Next Spring, ICAEW will be introducing a new ACA computer-based exams. Here we explain what it will entail

ICAEW CBE update

Computer-based exams at the ACA Professional and Advanced levels will be implemented in stages across a two-year period, the ICAEW has confirmed.

Exam preparation: 24 hours to go

Stuart Pedley-Smith outlines what you should be doing with your time on the final day before that big exam

Top revision tips

Here are some top tips on how to pass your ACA exam – courtesy of the ICAEW

A quick look at… Treatment of payments for corportion tax purposes

A company may make different payments, but are you clear as to how each is treated for corporation tax purposes?

Rising to the challenge

Accountants working in the public sector face a unique set of challenges. So how are they dealing with them?

Don’t get too close

EY has agreed to pay a whopping $9.3m to the US Securities and Exchange Commission to settle charges that two of its audit partners “got too close to their clients on a personal level and violated rules that ensure firms maintain their objectivity and impartiality during audits”.

Your Partner in Learning

The ICAEW recognises the level of support that you, as students, need in order to study for the ACA qualification. We work with tuition providers and higher education institutions from all over the world to provide the resources and guidance you need for your exams.

A quick look at… Ebrahimi v Westbourne Galleries Ltd. [1973] AC 360

This case remains the leading authority on the provision currently found in s122(1) (g) of the Insolvency Act 1986, which provides that a petition to wind up a company can be granted if it is “just and equitable” to wind up the company.

Sustainability and the UNGC: it’s the real thing

Keeping the planet clean for our children is laudable, but regulation could get in the way, says Martin Jones

Intangible assets: change is needed

It’s time for a revolution in the reporting of intangible assets, says David Haigh

A quick look at… IFRS 11 – Joint Arrangements

Accounting for joint arrangements is an example of a topic where the accounting standard (IFRS 11) is relatively straightforward to apply.

A quick look at… accounting for value – defining value

Most people will know something about Value Based Management (VBM). It is a management philosophy that, basically, focuses on the creation of value rather than just profits.

Business Planning: tax – put yourself in their shoes

Tutor Sheridan Matthew Gray provides some helpful guidance on how to approach the Business Planning: Taxation exam

‘Mismatch’ for young auditors

The whole audit process is being compromised by the social ‘mismatch’ between young, inexperienced auditors and older, more experienced client management, says award-winning research from US academics Bradley Bennett and Richard Hatfield.

Classic way to succeed

One way of beating those stress blues while you are revising is to play a little bit of classical music.

IASB amends IFRS 15 revenue standard

The International accounting Standards Board (IASB) has issued amendments to IFRS 15 Revenue from Contracts with Customers, to help clarify some requirements and provide more transitional relief.

ICAEW bans digital watches from exams

The ICAEW has confirmed that digital watches will not be permitted in any ICAEW exam from June 2016.

Top tips from top tutors

ACA tutors and examiners attended this year’s ICAEW Partner in Learning ACA conference. 2016 was the biggest conference so far, with over 185 delegates at the two-day event. Here are the top exam tips from the event

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