Global Accountant Nov / Dec 2010

Page 1

Intellectual Requirements P18 Cash Flows

by Steve Collings

Q&A Entering the leadership fast lane with CIMA

Interview Tips

GLOBAL ACCOUNTANT Nov/Dec 2010

News Technical *VYWVYH[L .V]LYUHUJL 0U[LY]PL^ :[\K` :RPSSZ )\ZPULZZ ,UNSPZO 1VI :RPSSZ

In this issue of the Global Accountant we bring you a variety of interesting reads. The

Siret Aktuglu Executive Editor

exam period is near and the Global Accountant has carefully selected a variety of interesting subjects that will help you during your studies. We have listened to your requests and provided you with some intellectual content that you will be required to know if you want to master those tough questions. We continuously listen to your comments and suggestions on how to make this publication more personal, keep those comments coming. The Global Accountant has recently changed it’s website so please check it out! We are also launching a new Partnership programme that will enable universities and professional training colleges to subscribe and provide the Global Accountant to their students at no cost! Good luck with your exams.

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Published by: .SVIHS (JJV\U[HU[ :V\[O )HUR ;LJOUVWHYR 3VUKVU 9K 3VUKVU :, 35 <50;,+ 205.+64 Executive Editor: :PYL[ (R[\NS\ 7YVQLJ[ 4HUHNLY (ZPH 7HJPĂ„J! :HTHU[OH 3HV Distribution Manager: 3PSS` AOHV Designer: 5PJV ?\ Contributors: ACCA 7YPJL^H[LYOV\ZL*VVWLYZ ,YUZ[ @V\UN 0-9: -V\UKH[PVU 0U[LYUH[PVUHS 0U[LNYH[LK 9LWVY[PUN *VTTP[[LL /20*7( )YP[PZO *V\UJPS +LSVP[[L Special Thanks: :[L]L *VSSPUNZ -4((; -**( ;VU` +LY]PZOP Contact: UL^Z'NSVIHSHJJV\U[HU[THNHaPUL JVT HK]LY[PZL'NSVIHSHJJV\U[HU[THNHaPUL JVT ^^^ NSVIHSHJJV\U[HU[THNHaPUL JVT

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Deloitte becomes world s largest professional firm

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04

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Cool lifestyle Climate change scientists have calculated that, in order to stay within acceptable global temperature rises (2oC) in the coming years, the worldโ s carbon allowance will be two tonnes per person, per year. In the US it currently stands at 25 tonnes per person and 12 tonnes in Western Europe.

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05

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Skills Shortage

Firms need to do more to attract and retain talent despite already having taken proactive steps to address the talent crunch. HUK H OLHS[O` ^VYR SPML IHSHUJL

ACCA Global, 2010, โ Survey Reveals Singaporeโ s Critical Skills Shortage

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IAS 19 PricewaterhouseCoopers, 2010,

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PUN JVUZ\S[PUN ZLY]PJLZ NYV\W º)\[

;OL 0U[LYUH[PVUHS (JJV\U[PUN :[HUKHYKZ )VHYK 0(:) OHZ PZZ\LK WYVWVZHSZ [OH[ PM HKVW[LK ^PSS THRL P[ LHZPLY MVY \ZLYZ VM ÄUHUJPHS Z[H[LTLU[Z [V \UKLYZ[HUK OV^ JVTWHUPLZ HJJV\U[ MVY WLUZPVUZ HUK V[OLY WVZ[ LTWSV`TLU[ ILULÄ[Z 4HUHNLTLU[ ULLKZ [V SVVR H[ [OL KL[HPS HZ [OLYL JV\SK IL ZPNUPÄJHU[ PTWSPJH[PVUZ MVY [OVZL VWLYH[PUN KLÄULK ILULÄ[ WSHUZ ;OL 0(:)»Z L_WVZ\YL KYHM[ +LÄULK ILULÄ[ WSHUZ MVSSV^Z H SLUN[O` HUK [OVYV\NO K\L WYVJLZZ 0[ ^HZ KL]LSVWLK HM[LY JVUZPKLYPUN [OL ]PL^Z VM YLZWVUKLU[Z [V HU LHYSPLY KPZJ\ZZPVU WHWLY 7YLSPTPUHY` ]PL^Z VU HTLUKTLU[Z [V 0(: W\ISPZOLK PU 0[ PZ ^PKLS` HJRUV^SLKNLK [OH[ WLUZPVUZ HJJV\U[PUN OHZ SVUN ILLU YPWL MVY PTWYV]LTLU[ HUK [OL IVHYK HUK Z[HMM PU[LUK [V JVU[PU\L JVUZ\S[PUN ^P[O PU[LYLZ[LK WHY[PLZ K\YPUN [OL JVTTLU[ WLYPVK

The key proposals in the exposure draft relate to: ‹ 9LJVNUP[PVU VM HJ[\HYPHS NHPUZ HUK SVZZLZ ‹ 9LJVNUP[PVU VM WHZ[ ZLY]PJL JVZ[ ‹ 4LHZ\YLTLU[ VM WLUZPVU L_WLUZL ‹ 7YLZLU[H[PVU VM WLUZPVU L_WLUZL ‹ +PZJSVZ\YL YLX\PYLTLU[

[OL` ^PSS ZPNUPÄJHU[S` JOHUNL [OL YLJVNUP[PVU HUK TLHZ\YLTLU[ VM LTWSV`LL ILULÄ[ L_WLUZL HUK L_[LUK [OL KPZJSVZ\YL YLX\PYLTLU[Z »

The proposed changes will affect all entities that apply IAS [V KLÄULK ILULÄ[ WSHUZ I`! ‹ *OHUNPUN [OL ^H` [OH[ PUMVYTH[PVU HIV\[ [OL ILULÄ[ VISPNH[PVU PZ WYLZLU[LK PU [OL ÄUHUJPHS Z[H[LTLU[Z ‹ 0UJYLHZPUN [OL ]VSH[PSP[` PU [OL WVZ[ LTWSV`TLU[ ILULÄ[ SPHIPSP[` HUK PU [V[HS JVTWYLOLUZP]L PUJVTL MVY LU[P[PLZ [OH[ J\YYLU[S` \ZL [OL JVYYPKVY HUK ZWYLHKPUN VW[PVU MVY [OL YLJVNUP[PVU VM HJ[\HYPHS NHPUZ HUK SVZZLZ ‹ 0UJYLHZPUN [OL UL[ WLUZPVU JVZ[ MVY THU` M\UKLK WLUZPVU WSHUZ ‹ *OHUNPUN [OL SPUL P[LTZ PU ^OPJO LTWSV`LL ILULÄ[ JVZ[Z HYL YLWVY[LK MVY ZVTL LU[P[PLZ ;OL WYVWVZHSZ JV\SK ZPNUPÄJHU[S` JOHUNL H U\TILY VM WLYMVYTHUJL PUKPJH[VYZ PUJS\KPUN ,)0;+( LHYUPUNZ WLY ZOHYL HUK IHSHUJL ZOLL[ YH[PVZ HJJVYKPUN [V ZWLJPHSPZ[Z PU 7^*»Z HJJV\U[PUN JVUZ\S[PUN ZLY]PJLZ NYV\W 4HUHNLTLU[ ^PSS ULLK [V KL[LYTPUL [OL LMMLJ[ VM [OL WYVWVZLK JOHUNLZ HUK OV^ [OL` ZOV\SK IL JVTT\UPJH[LK [V ZOHYLOVSKLYZ HUK V[OLY \ZLYZ VM [OL ÄUHUJPHS Z[H[LTLU[Z

10

Technical

IFRS for SMEs In July 2009, the International Accounting Standards Board (IASB) published the International Financial ReWVY[PUN :[HUKHYK MVY :THSS HUK 4LKP\T ZPaLK ,U[P[PLZ RUV^U HZ 0-9: MVY :4,Z ;OL WYVQLJ[ OHZ [HRLU Ä]L years from the initial phase to its publication.

0-9: MVY :4,Z PZ PU[LUKLK MVY NSVIHS \ZL I` HU` LU[P[` [OH[ KVLZ UV[ OH]L W\ISPJ HJJV\U[HIPSP[` ^OPJO PU V[OLY ^VYKZ TLHU [OH[ P[Z KLI[ VY LX\P[` PUZ[Y\TLU[Z KV UV[ [YHKL VU HU` Z[VJR L_JOHUNL HUK M\Y[OLYTVYL T\Z[ UV[ IL H ÄUHUJPHS PUZ[P[\[PVU Z\JO HZ H IHUR VY PUZ\YHUJL JVTWHU` 0-9: MVY :4,Z PZ H ZLSM JVU[HPULK Z[HUKHYK I\PS[ VU M\SS 0-9: MV\UKH[PVUZ I\[ ^P[O ZPTWSPÄJH[PVUZ [OH[ YLÅLJ[ OV^ :4,Z» ÄUHUJPHS Z[H[L-

The standard is also simpliÄLK PU [OL MVSSV^PUN ^H`Z! (SS IVYYV^PUN HUK YLZLHYJO KL]LSVWTLU[ JVZ[ HYL L_WLUZLK [OYV\NO [OL 0UJVTL :[H[LTLU[ P L UL]LY JHWP[HSPZLK 7YVWLY[` WSHU[ HUK LX\PWTLU[ VY PU[HUNPISL HZZL[Z JHUUV[ IL YL ]HS\LK ;OLYL PZ UV MHPY ]HS\L VW[PVU MVY ÄUHUJPHS PUZ[Y\TLU[Z ( JVZ[ KLWYLJPH[PVU TVKLS PZ \ZLK MVY PU]LZ[TLU[Z PU YLHS LZ[H[L

TLU[Z HYL \ZLK HUK [OL JVZ[ ILULÄ[ JVUZPKLYH[PVUZ ;OPZ TLHUZ [OH[ [OLYL HYL H U\TILY VM HJJV\U[PUN Z[HUKHYKZ HUK KPZJSVZ\YLZ PU M\SS 0-9: YLX\PYLTLU[Z [OH[ HYL UV[ YLSL]HU[ MVY \ZLYZ VM :4,Z

.VVK^PSS HUK V[OLY PUKLÄUP[L

As a result the standard does not address the following topics:

;OLYL HYL UV H]HPSHISL MVY ZHSL VY

,HYUPUNZ WLY :OHYL U[LYPT -PUHUJPHS 9LWVY[PUN :LNTLU[ 9LWVY[PUN 0UZ\YHUJL (ZZL[Z /LSK MVY :HSL

\USLZZ MHPY ]HS\L PZ YLHK` H]HPSHISL ^P[OV\[ \UK\L JVZ[ VY LMMVY[ SPML PU[HUNPISLZ HYL HTVY[PZLK V]LY [OLPY \ZLM\S SPML PM \ZLM\S SPML JHUUV[ IL YLSPHIS` LZ[PTH[LK [OLU `LHYZ PZ \ZLK OLSK [V TH[\YP[` JSHZZLZ VM ÄUHUJPHS HZZL[Z ÄUHUJPHS PUZ[Y\TLU[Z 5V ºJVYYPKVY HWWYVHJO» MVY HJ[\HYPHS NHPUZ HUK SVZZLZ 0(: ,TWSV`LL )LULÄ[Z

7H\S 7HJ[LY KPYLJ[VY VM Z[HUKHYKZ MVY :4,Z H[ [OL 0(:) HUK [OL THU ^OV OHZ THZ[LYTPUKLK [OL Z[HUKHYK»Z WYVNYLZZ L_WSHPUZ [OH[ 0-9: MVY :4,Z PZ WHNLZ PU SLUN[O JVTWHYL [V WHNLZ VM M\SS 0-9: *VTWHYLK ^P[O M\SS 0-9: HUK THU` UH[PVUHS .((7 0-9: MVY :4,Z PZ SLZZ JVTWSL_ PU THU` ^H`Z 0[ PZ ^YP[[LU PU JSLHY LHZPS` [YHUZSH[HISL SHUN\HNL 0[ PZ VYNHUPZLK [VWPJHSS` PU[V ZLJ[PVUZ 6UL VM [OL ZLJ[PVUZ KLHSZ ^P[O ÄYZ[ [PTL HKVW[PVU PU [OL `LHY VM HKVW[PVU VUL WYPVY `LHY KH[H PZ YLZ[H[LK I\[ [OLYL HYL L_LTW[PVUZ WS\Z H NLULYHS PTWYHJ[PJHIPSP[` L_JLW[PVU ;OL 0-9: MVY :4,Z ZOV\SK WYV]PKL PTWYV]LK JVTWHYHIPSP[` MVY \ZLYZ VM HJJV\U[Z ^OPSL LUOHUJPUN [OL V]LYHSS JVUÄKLUJL PU [OL HJJV\U[Z VM :4,Z ;OL H\KP[VYZ YLWVY[ ^PSS YLMLY [V JVTWSPHUJL ^P[O 0-9: MVY :4,Z ;OPZ YLMLYLUJL TH` PTWYV]L HJJLZZ [V JHWP[HS *VTWSPHUJL ^P[O [OL Z[HUKHYK ^PSS HSZV LHZL [OL

NSVIHSHJJV\U[HU[THNHaPUL JVT

[YHUZP[PVU [V M\SS 0-9: PM [OL :4, KLJPKLZ [V ILJVTL H SPZ[LK W\ISPJ LU[P[` ;OL Z[HUKHYK ^PSS ZPNUPÄJHU[S` YLK\JL [OL JVZ[ PU]VS]LK PU THPU[HPUPUN HJJV\U[PUN Z[HUKHYKZ VU H UH[PVUHS IHZPZ 9LJLU[S` [OL <:( OHZ [HRLU JVUZ[Y\J[P]L Z[LWZ PU HKVW[PUN 0-9: MVY :4,Z ^OPJO ^PSS H]VPK [OL PZZ\LZ Z\YYV\UKPUN [OL JVU]LYNLUJL WYVQLJ[ IL[^LLU M\SS 0-9: HUK <: .((7 0(:) ] -(:) ;OPZ PU P[ZLSM PZ H JVUZPKLYHISL Z\JJLZZ

[V H [^V [PLY Z`Z[LT VM ÄUHUJPHS

JVUJLW[Z :[YVUN Z\WLY]PZPVU MYVT

YLWVY[PUN ^OPJO JV\SK NP]L YPZL [V

[OL 5H[PVUHS (JJV\U[HUJ` *V\UJPS

KPMMLYLU[ º[Y\L HUK MHPY ]HS\LZ» 0U MHJ[ PU [OL <UP[LK 2PUNKVT [OLYL

PZ HSZV ]P[HS¹ -\Y[OLYTVYL 7YVM : +OHTV VM <UP]LYZP[` VM ;PYHUH ZH`Z

^PSS IL [OYLL [`WL VM LU[P[PLZ [OVZL

[OH[ ¸PTTLKPH[L PTWSLTLU[H[PVU VM

MVSSV^PUN M\SS 0-9: [OVZL MVSSV^PUN

0-9: MVY :4, PU (SIHUPH ^PSS OH]L

<2 .((7 ^OPJO ^PSS IL YLWSHJLK

ULNH[P]L VY L]LU WZ`JOVSVNPJHS

I` 0-9: MVY :4,Z PU HUK

JVUZLX\LUJLZ MVY [OL HJJV\U[HU[Z

[OVZL MVSSV^PUN [OL <2 *VTWHUPLZ (J[ -9::,

HUK I\ZPULZZLZ PU NLULYHS -PYZ[ VM HSS P[ ULLKZ [V IL [YHUZSH[LK HUK H[

+\L [V [OL YLJLU[ NSVIHS ÄUHUJPHS JYPZPZ THU` :4,Z HYV\UK [OL ^VYSK ^PSS IL KPZPU[LYLZ[LK PU HWWS`PUN 0-9: MVY :4,Z ;OPZ ^PSS WYVK\JL HU PTWSLTLU[H[PVU JVZ[ HZ UL^ Z`Z[LTZ ^PSS IL ULLKLK M\Y[OLYTVYL [OLYL ^PSS IL ZVTL ZPNUPÄJHU[ [YHPUPUN JVZ[Z ;OLYL ^PSS HSZV IL ZVTL PTWVY[HU[ [H_ PZZ\LZ PU [OL [YHUZP[PVUPUN [V 0-9: MVY :4,Z ^OPJO OHZ ILLU VUL VM [OL YLHZVUZ ^O` ZVTL :4,Z OH]L UV[ Z^P[JOLK [V 0-9: 9LHK TVYL! ;H_ HJJV\U[PUN PTWSPJH[PVUZ VU 0-9: MVY :4,Z ,YUZ[ @V\UN (\N\Z[ 0U KL]LSVWPUN JV\U[YPLZ ZVTL :4,Z TH` ÄUK [OL PTWSLTLU[H[PVU JVZ[Z PU]VS]LK L]LU TVYL WHPUM\S PM UV[ MH[HS 0U (SIHUPH VM LU[P[PLZ HYL ZTHSS HUK TLKP\T ZPaLK ¸:VTL :4,Z ZPTWS` JV\SK UV[ HMMVYK WYVMLZZPVUHS HJJV\U[HUJ`

¸;OLYL PZ H NLULYHS ZLUZL VM YLSPLM HUK QV` ^L OH]L ^HP[LK X\P[L H SVUN [PTL ¹ ZH`Z 9PJOHYK 4HY[PU OLHK VM ÄUHUJPHS YLWVY[PUN H[ [OL (**( /L JVU[PU\LZ [V ZH` [OH[ º>L ÄLSK [LZ[LK JVTWHUPLZ VU ILOHSM VM [OL 0(:) HUK [OH[ JVTWHUPLZ KPK UV[ OH]L T\JO KPMÄJ\S[` ;OL PZZ\L OHZ ILLU VUL VM WLYJLP]LK JVTWSL_P[`» 5V[ HSS ^PSS HNYLL

MLLZ¹ L_WSHPUZ 7YVM :O )\UKV OLHK VM [OL (SIHUPHU (ZZVJPH[PVU VM (JJV\U[HUJ` HUK -PUHUJPLYZ /L JVU[PU\LZ [V ZH` [OH[ ¸[OLYL HYL HSZV WYVISLTZ PU \UKLYZ[HUKPUN JVUJLW[Z Z\JO HZ YPZR HUK WYV]PZPVU HTVUN [OL VSKLY NLULYH[PVU VM HJJV\U[HU[Z VUS` VM WYVMLZZPVUHS HJJV\U[HU[Z HYL ILSV^ `LHYZ VSK ;YHPUPUN JVZ[Z ^PSS IL

;OLYL HYL HSZV HYN\TLU[Z HNHPUZ[ 0-9: MVY :4,Z PU [OH[ P[ TH` SLHK

ZPNUPÄJHU[ HUK JOHUNLZ PU [OL LK\JH[PVU Z`Z[LT HYL ULJLZZHY` [V [LHJO [OL WYHJ[PJHIPSP[` VM Z\JO

SLHZ[ Ä]L `LHY [PTL SPTP[ ZOV\SK IL HSSV^LK MVY MHTPSPHYPZH[PVU¹ :V MHY ML^ JV\U[YPLZ OH]L HKVW[LK 0-9: MVY :4,Z <UMVY[\UH[LS` THU` HJJV\U[HU[Z HYL UV[ `L[ H^HYL VM 0-9: MVY :4,Z 9LJLU[S` 0 OH]L L_WLYPLUJLK ZVTL ÄUHUJL KPYLJ[VYZ VM SHYNL UVU SPZ[LK ÄYTZ PU [OL <2 JVTTLU[PUN VU [OL W\ISPJH[PVU VM 0-9: MVY :4,»Z VUL ZHPK ¸MYHURS` ^L HYL H SHYNL JVTWHU` HUK [OPZ PZ UV[ YLSL]HU[ [V \Z HZ ^L MVSSV^ <2 .((7¹ -YHURS` [OPZ ^PSS HMMLJ[ `V\ HUK JLY[HPUS` HMMLJ[ [OL HIV]L -+ HUK TVZ[ JVTWHUPLZ HYV\UK [OL ^VYSK -VY TVYL PUMVYTH[PVU VU 0-9: MVY :4,Z WSLHZL ]PZP[ http://go.iasb. org/IFRSforSMEs ;OPZ PZ ]LY` T\JO H J\YYLU[ PZZ\L [VWPJ ^OPJO JV\SK WVZZPIS` IL L_HTPULK PU 8 VM [OL (**( 7 *VYWVYH[L 9LWVY[PUN L_HT .YHOHT /VS[ [OL L_HTPULY OHZ YLJLU[S` ZOV^U PU[LYLZ[ PU [OPZ Z[HUKHYK I` ^YP[PUN [^V HY[PJSLZ VU [OPZ UL^ Z[HUKHYK

Tony Dervishi is a Client Accountant at Jones 3HUN 3H:HSSL H ÄUHUJPHS HUK WYVMLZZPVUHS ZLY]PJLZ ÄYT ZWLcialising in real estate services and investment management.

11

14

Technical

HY[PJSL ^PSS IL WYPTHYPS` JVUJLYULK

Steve Collings FMAAT FCCA is audit and technical director at Leavitt Walmsley Associates and a freelance technical writer.

Cash Flows Where has all the money gone? :[\KLU[Z VM ÄUHUJPHS YLWVY[PUN WHWLYZ ^PSS ULLK [V KL]LSVW H ZV\UK \UKLYZ[HUKPUN VM [OL WYPTHY` Z[H[LTLU[ RUV^U HZ [OL º:[H[LTLU[ VM *HZO -SV^Z» ;OL Z[H[LTLU[ VM

`V\ HYL ZP[[PUN 0[ ^PSS HSZV MVJ\Z VU [OL W\YWVZL VM [OL Z[H[LTLU[ VM JHZO Ã…V^Z PU HU H[[LTW[ [V PSS\Z[YH[L ^O` [OL Z[H[LTLU[ PZ WYLWHYLK ILJH\ZL \UKLYZ[HUKPUN [OL YLHZVU-

JHZO ÅV^Z PZ YLUV^ULK MVY JH\ZPUN ]HY`PUN KLNYLLZ VM WYVISLTZ ^P[O Z[\KLU[Z ILJH\ZL KLWLUKPUN VU [OL SL]LS VM ÄUHUJPHS YLWVY[PUN WHWLY `V\ HYL ZP[[PUN ^PSS KLWLUK VU [OL SL]LS VM JVTWSL_P[` `V\ HYL L_WLJ[LK [V KLHS ^P[O ^OLU KLHSPUN ^P[O [OPZ WYPTHY` ÄUHUJPHS Z[H[LTLU[

PUN ILOPUK ^O` ^L KV ZVTL[OPUN HZZPZ[Z \Z NYLH[S` PU HJ[\HSS` WLYMVYTPUN [OL [HZR

;OPZ HY[PJSL SVVRZ H[ [OL RL` HZWLJ[Z VM [OL Z[H[LTLU[ VM JHZO Ã…V^Z HUK ^PSS HSZV SVVR H[ OV^ [OL Z[H[LTLU[ KPMMLYZ KLWLUKPUN VU ^OPJO .((7

;OL Z[H[LTLU[ VM JHZO ÅV^Z MLH[\YLZ PU [OL WYV]PZPVUZ SHPK KV^U PU 0(: :[H[LTLU[ VM *HZO -SV^Z 0M `V\ HYL Z[\K`PUN \UKLY H <2 ]HYPHU[ VM ÄUHUJPHS YLWVY[PUN [OLU `V\ ^PSS SVVR [V [OL WYV]PZPVUZ PU -9: *HZO -SV^ :[H[LTLU[Z ;OPZ

^P[O [OL WYV]PZPVUZ PU 0(: I\[ [OYV\NOV\[ ^L ^PSS IL YLMLYYPUN [V ZVTL UV[HISL KPMMLYLUJLZ [V P[Z <2 -9: JV\U[LYWHY[

The purpose ;OL Z[H[LTLU[ VM JHZO Ã…V^Z PZ H WYPTHY` ÄUHUJPHS Z[H[LTLU[ 0U ]PL^ VM [OL MHJ[ [OH[ P[ PZ H WYPTHY` ÄUHUJPHS Z[H[LTLU[ [OLU P[ T\Z[ IL NP]LU [OL ZHTL WYVTPULUJL HZ [OL V[OLY WYPTHY` ÄUHUJPHS Z[H[LTLU[Z! [OL Z[H[LTLU[ VM JVTWYLOLUZP]L PUJVTL [OL PUJVTL Z[H[LTLU[ [OL Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU [OL IHSHUJL ZOLL[ HUK [OL Z[H[LTLU[ VM JOHUNLZ PU LX\P[` +\YPUN ÄUHUJPHS YLWVY[PUN Z[\KPLZ `V\ ^PSS OH]L JVTL HJYVZZ [OL 0(:)»Z ºHJJY\HSZ JVUJLW[» ;OPZ JVUJLW[ YLX\PYLZ [OH[ [YHUZHJ[PVUZ HUK L]LU[Z HYL HJJV\U[LK MVY ^P[OPU [OL ÄUHUJPHS Z[H[LTLU[ HZ [OL` HYPZL HZ VWWVZLK [V ^OLU [OL` HYL WHPK ;OL Z[H[LTLU[ VM JHZO Ã…V^Z OV^L]LY KVLZ UV[ HJJVYK [V [OPZ WYPUJPWSL )` KLÄUP[PVU [OL Z[H[LTLU[ VM JHZO Ã…V^Z PZ WYLWHYLK VU H JHZO IHZPZ YH[OLY [OHU HU HJJY\HSZ IHZPZ ;OL VIQLJ[P]L VM [OL Z[H[LTLU[ VM JHZO Ã…V^Z PZ [V WYV]PKL [OL \ZLY VM [OL ÄUHUJPHS Z[H[LTLU[Z ^P[O PUMVYTH[PVU HZ [V OV^ [OL YLWVY[PUN LU[P[` OHZ NLULYH[LK JHZO K\YPUN [OL YLWVY[PUN WLYPVK HUK OV^ [OL LU[P[` OHZ ZWLU[ [OH[ JHZO

NSVIHSHJJV\U[HU[THNHaPUL JVT

K\YPUN [OL YLWVY[PUN WLYPVK ;OL ZHTL VIQLJ[P]L PZ HSZV HWWSPLK PU -9: >OLU WYLWHYPUN H Z[H[LTLU[

For example if we consider sales revenue from 1 January to 31 December:

VM JHZO Ã…V^Z `V\ ^PSS VM[LU JVTL HJYVZZ [OL [LYT ºJHZO HUK JHZO LX\P]HSLU[Z»

Cash and cash equivalents are classed as: ‹ *HZO ‹ :OVY[ [LYT OPNOS` SPX\PK PU]LZ[TLU[Z ‹ +LTHUK KLWVZP[Z :VTL[PTLZ \ZLYZ VM ÄUHUJPHS Z[H[LTLU[Z ^PSS ^HU[ [V RUV^ MVY L_HTWSL OV^ T\JO PUJVTL [H_ HU LU[P[` OHZ WHPK PU [OL YLWVY[PUN WLYPVK ;OL Z[H[LTLU[ VM JVTWYLOLUZP]L PUJVTL ^PSS ZOV^ [OL [H_H[PVU JOHYNL VU [OL WYVÄ[Z MVY [OH[ YLWVY[PUN WLYPVK [VNL[OLY ^P[O HU` V]LY \UKLY WYV]PZPVU MYVT WYL]PV\Z WLYPVKZ ;OL Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU ^PSS ZOV^ [OL SPHIPSP[` V^LK [V [OL [H_ H\[OVYP[PLZ HZ H[ [OL YLWVY[PUN KH[L 0U [VKH`»Z LJVUVTPJ JSPTH[L P[ PZ UV[ \UJVTTVU MVY LU[P[PLZ [V HNYLL HU PUZ[HSTLU[ WSHU ^P[O /4 9L]LU\L HUK *\Z[VTZ HUK [OLYLMVYL PU [OL <2 HZ JVYWVYH[L [H_LZ HYL WHPK UPUL TVU[OZ» HUK VUL KH` HM[LY [OL YLWVY[PUN WLYPVK [OLU [OLYL JV\SK IL WHY[ VM [OL WYL]PV\Z `LHY»Z [H_ SPHIPSP[` JVU[HPULK PU [OL J\YYLU[ `LHY»Z SPHIPSP[` ;OL Z[H[LTLU[ VM JHZO Ã…V^Z OV^L]LY ^PSS JVU[HPU [OL HJ[\HS [H_ WHPK PU [OL `LHY (Z `V\ JHU ZLL MYVT [OL L_HTWSLZ HIV]L [YHUZHJ[PVUZ ^P[OPU H JVTWSL[L ZL[ VM ÄUHUJPHS Z[H[LTLU[Z ^PSS VM[LU IL YLWYLZLU[LK KPMMLYLU[S`

(NHPU [OLYL PZ H UV[HISL KPMMLYLUJL IL[^LLU 0(: YLX\PYLTLU[Z HUK -9: YLX\PYLTLU[Z -9: YLX\PYLZ H T\JO TVYL KL[HPSLK IYLHRKV^U

:HSLZ YL]LU\L JVU[YPI\[LZ [V YL]LU\L PU [OL Z[H[LTLU[ VM

VM OLHKPUNZ ^P[OPU [OL Z[H[LTLU[ I`

JVTWYLOLUZP]L PUJVTL

for the purposes of IAS 7:

:HSLZ YL]LU\L JVU[YPI\[LZ [V YLJLPW[Z MYVT YLJLP]HISLZ PU [OL Z[H[LTLU[ VM JHZO ÅV^Z :HSLZ YL]LU\L JVU[YPI\[LZ [V YLJLP]HISLZ PU [OL Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU H[ [OL WLYPVK LUK

Presentation ,U[P[PLZ YLWVY[PUN \UKLY 0-9: HYL THUKH[VYPS` YLX\PYLK [V WYLWHYL H Z[H[LTLU[ VM JHZO Ã…V^Z PU HJJVYKHUJL ^P[O 0(: WYPUJPWSLZ ;OPZ PZ H UV[HISL KPMMLYLUJL PU JVTWHYPZVU [V J\YYLU[ <2 .((7 -9: <UKLY -9: H JVTWHU` [OH[ TLL[Z [OL ºZTHSS JVTWHU`» JYP[LYPH KVLZ UV[ OH]L [V WYLWHYL Z\JO H Z[H[LTLU[ [OV\NO [OL WYVWVZHS PZ [V THRL [OL Z[H[LTLU[ VM JHZO Ã…V^Z H THUKH[VY` Z[H[LTLU[ ^OLU 0-9: MVY :4,»Z ILJVTLZ VWLYH[PVUHS MVY [OL YLZ[ VM [OL <2 ,U[P[PLZ ^OV WYLWHYL H Z[H[LTLU[ VM JHZO Ã…V^Z \UKLY 0(: HYL YLX\PYLK [V WYLWHYL Z\JO H Z[H[LTLU[ \UKLY three headings:

]PY[\L VM LPNO[ OLHKPUNZ though Operating activities HYL [OL KH` [V KH` YL]LU\L WYVK\JPUN HJ[P]P[PLZ See Figure 1 and Figure 2 below. Investing activities HYL [OL HJX\PZP[PVU HUK KPZWVZHS VM SVUN [LYT HZZL[Z [OH[ HYL UV[ JVUZPKLYLK [V IL JHZO LX\P]HSLU[Z

These can comprise: ‹ (JX\PZP[PVU VM WYVWLY[` WSHU[ HUK LX\PWTLU[ 77, ‹ +PZWVZHSZ VM 77, ‹ 0U]LZ[PUN PU SVUN [LYT PU]LZ[TLU[Z ‹ (JX\PZP[PVUZ HUK KPZWVZHSZ VM Z\IZPKPHYPLZ QVPU[ ]LU[\YLZ HZZVJPH[LZ Financing activities HYL [OVZL HJ[P]P[PLZ ^OPJO JOHUNL [OL JHWP[HS HUK IVYYV^PUN Z[Y\J[\YL VM [OL YLWVY[PUN LU[P[` Examples of such

ÄUHUJPUN HJ[P]P[PLZ HYL! ‹ 3VHUZ [HRLU V\[ PU [OL `LHY ‹ 7YVJLLKZ MYVT ZOHYL PZZ\LZ

‹ 6WLYH[PUN HJ[P]P[PLZ ‹ )\` IHJR VM LX\P[` ZOHYLZ ‹ 0U]LZ[PUN HJ[P]P[PLZ ‹ -PUHUJPUN HJ[P]P[PLZ

‹ 9LKLTW[PVU VM WYLMLYLUJL ,U[P[PLZ OH]L [OL JOVPJL VM WYLWHYPUN ZOHYLZ KLILU[\YLZ

15

16

Technical

[OL Z[H[LTLU[ VM JHZO Ã…V^Z \UKLY [^V TL[OVKZ ¶ [OL ‘direct’ TL[OVK HUK [OL ‘indirect’ TL[OVK ;OL KPYLJ[ TL[OVK PZ YHYLS` \ZLK PU WYHJ[PJL HUK Z[\KLU[Z HYL \YNLK [V YLMLY [V [OLPY Z`SSHI\Z [V KL[LYTPUL ^OL[OLY VY UV[ [OPZ TL[OVK PZ L_HTPUHISL *LY[HPU IVKPLZ KV UV[ L_HTPUL [OPZ TL[OVK U\TLYPJHSS` I\[ JHUKPKH[LZ HYL YLX\PYLK [V OH]L HU H^HYLULZZ VM OV^ [OPZ TL[OVK ^VYRZ ;OL KPYLJ[ TL[OVK ZOV^Z LHJO THQVY JSHZZ VM NYVZZ JHZO YLJLPW[Z HUK NYVZZ JHZO WH`TLU[Z 0U V[OLY ^VYKZ P[ [HRLZ Z\JO THQVY JSHZZLZ VM YLJLPW[Z HUK WH`TLU[Z ºKPYLJ[» MYVT [OL JHZO IVVR OLUJL ILPUN YLMLYYLK [V HZ [OL ºKPYLJ[» TL[OVK

A typical illustration of this is as follows: Figure 1 *HZO YLJLPW[Z MYVT J\Z[VTLYZ

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*HZO WHPK [V Z\WWSPLYZ

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*HZO WHPK [V LTWSV`LLZ

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*HZO WHPK MVY V[OLY VWLYH[PUN L_WLUZLZ

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0U[LYLZ[ WHPK

?

;H_ WHPK Net cash from operating activities

Figure 2 7YVÄ[ MYVT VWLYH[PVUZ

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(KQ\Z[TLU[Z MVY! +LWYLJPH[PVU

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(TVY[PZH[PVU

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.HPU VU KPZWVZHS VM 77,

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6WLYH[PUN JHZO Ã…V^Z before movements in working capital

$X

:[\KLU[Z VM[LU Z[Y\NNSL PU KLJP-

0UJYLHZL KLJYLHZL PU PU]LU[VYPLZ

? ?

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0UJYLHZL KLJYLHZL PU YLJLP]HISLZ

? ?

$X

0UJYLHZL KLJYLHZL PU payables

? ?

;OL PUKPYLJ[ TL[OVK PZ [OL TVZ[ MYLX\LU[S` L_HTPULK HUK [OL TVZ[ JVTTVUS` \ZLK PU WYHJ[PJL The

indirect method adjusts operH[PUN WYVÄ[ MVY [OL LMMLJ[Z VM non-cash transactions and can be illustrated as follows:

The Complexities

Cash generated by operations

$X

0UJVTL [H_LZ WHPK

?

0U[LYLZ[ WHPK

?

Net cash from operating activities

$X

WOLYPUN ^OLU [V HKK HUK ^OLU [V Z\I[YHJ[ PUJYLHZLZ HUK KLJYLHZLZ PU ^VYRPUN JHWP[HS ;OL RL` [V KLJPWOLYPUN ^OLU [V HKK HUK [V Z\I[YHJ[ MYVT VWLYH[PUN WYVÄ[ PZ [V KL[LYTPUL [OL LMMLJ[ VU [OL JHZO ÅV^ *VUZPKLY HU PUJYLHZL PU PU]LU[VYPLZ (U PUJYLHZL PU PU]LU[VYPLZ TLHUZ [OH[ ^L OH]L ZWLU[ TVYL JHZO VU PU]LU[VYPLZ ^OPJO OH]L UV[ `L[ [\YULK PU[V YLJLP]HISLZ HUK [O\Z UV[ `L[ [\YULK PU[V JHZO ;OPZ [OLYLMVYL YLZ\S[Z PU H JHZO V\[ÅV^ HUK V\[ÅV^Z HYL KLK\J[LK MYVT VWLYH[PUN WYVÄ[ *VU]LYZLS` PM ^L OHK H KLJYLHZL PU

NSVIHSHJJV\U[HU[THNHaPUL JVT

[OHU PU [OL WYL]PV\Z `LHY YLZ\S[PUN PU TVYL TVUL` ILPUN RLW[ PU V\Y IHUR TLHUPUN HU PUÅV^ ZV HU HKKP[PVU [V VWLYH[PUN WYVÄ[

In summary:

Conclusion

;OL Z[H[LTLU[ VM JHZO Ã…V^Z ZOV\SK IL H ºNPM[» [V Z[\KLU[Z VM ÄUHUJPHS YLWVY[PUN WHWLYZ HUK HZ SVUN HZ H TL[OVKPJHS HWWYVHJO [V KLHSPUN ^P[O [OL Z[H[LTLU[ PZ HK-

*HZO ¸PUÃ…V^Z¹ (KK [V VWLYH[PUN WYVÄ[

VW[LK [OLU [OL` JHU IL YLSH[P]LS` Z[YHPNO[ MVY^HYK

*HZO ¸V\[Ã…V^Z¹ +LK\J[ MYVT VWLYH[PUN WYVÄ[

PU]LU[VYPLZ [OLU [OPZ ^V\SK YLWYLZLU[ HU PUÃ…V^ VM JHZO ILJH\ZL ^L OH]L ZWLU[ SLZZ VU PU]LU[VYPLZ [OHU PU [OL WYL]PV\Z `LHY ;OL YLK\J[PVU PZ YLWYLZLU[LK I` LP[OLY HU PUJYLHZL PU YLJLP]HISLZ VY HU PUJYLHZL PU JHZO PU]LU[VYPLZ [\YU PU[V YLJLP]HISLZ HUK YLJLP]HISLZ L]LU[\HSS` [\YU PU[V JHZO " [OPZ RUV^U HZ [OL ºVYKLY VM SPX\PKP[`» 0UJYLHZLZ PU [YHKL YLJLP]HISLZ KLTVUZ[YH[L [OH[ SLZZ JHZO OHZ ILLU YLJLP]LK MYVT [YHKL YLJLP]HISLZ [OHU [OL WYL]PV\Z `LHY ^OPJO YLWYLZLU[Z HU V\[Ã…V^ HUK [O\Z H KLK\J[PVU MYVT VWLYH[PUN WYVÄ[ *VU]LYZLS` HU PUJYLHZL PU WH`HISLZ TLHUZ [OH[ ^L OH]L WHPK SLZZ [V [YHKL WH`HISLZ

-VY [OVZL VM `V\ Z[\K`PUN TVYL HK]HUJLK ÄUHUJPHS YLWVY[PUN WHWLYZ [OLU JHZO Ã…V^Z KLUVTPUH[LK PU H MVYLPNU J\YYLUJ` PU YLZWLJ[ VM H MVYLPNU Z\IZPKPHY` ZOV\SK IL [YHUZSH[LK H[ [OL YH[LZ WYL]HPSPUN ^OLU [OL JHZO Ã…V^Z [VVR WSHJL (ZZVJPH[LZ HUK QVPU[ ]LU[\YLZ JHU IL Z\IQLJ[LK [V [OL ºLX\P[`» TL[OVK VM HJJV\U[PUN >OLYL [OPZ TL[OVK PZ \ZLK [OLU [OL Z[H[LTLU[ VM JHZO Ã…V^Z ZOV\SK VUS` YLWVY[ [OL JHZO Ã…V^Z IL[^LLU [OL PU]LZ[VY HUK [OL PU]LZ[LL L N HK]HUJL [HRLU VY NP]LU VY KP]PKLUK WHPK VY YLJLP]LK >OLYL WYVWVY[PVUH[L JVUZVSPKH[PVU PZ \ZLK [OLU [OL Z[H[LTLU[ ZOV\SK VUS` PUJS\KL [OL ]LU[\YLY»Z ZOHYL VM JHZO Ã…V^Z VM [OL PU]LZ[LL

¶ L]LU ^OLU P[ JVTLZ [V KLHSPUN ^P[O [OL TVYL JVTWSL_ PZZ\LZ

0U H ZL[ VM ÄUHUJPHS Z[H[LTLU[Z [OL U\TILYZ HYL TLYLS` H MVYT VM ZOVY[OHUK HUK PU YLJVNUP[PVU VM [OPZ P[ PZ HSZV PTWVY[HU[ [OH[ Z[\KLU[Z HYL HISL [V UV[ VUS` WYLWHYL [OL Z[H[LTLU[ VM JHZO Ã…V^Z I\[ [OH[ [OL` HYL HSZV WYLWHYLK [V IL HISL [V ^YP[L HIV\[ [OL Z[H[LTLU[ VM JHZO Ã…V^Z HZ L_HTPULYZ JV\SK HZR MVY JVTTLU[HY` HIV\[ [OL Z[H[LTLU[ VM JHZO Ã…V^Z VY JVTWVULU[ WHY[Z [V JVUÄYT H JHUKPKH[L»Z \UKLYZ[HUKPUN VM [OPZ WYPTHY` Z[H[LTLU[ 0U[LYWYL[H[PVU VM ÄUHUJPHS Z[H[LTLU[ PUMVYTH[PVU PZ HZ PTWVY[HU[ HZ ILPUN HISL [V WYLWHYL ÄUHUJPHS Z[H[LTLU[ PUMVYTH[PVU

17

18

Technical

Once you learn these words you will see your exams may become more easy for you: +LÄUL Give the meaning of …

I ntellectual Requirements

Explain Make clear…

Identify Recognise or Select…

Describe Give the key features of…

Contrast Make a comparison between things

Dear Global Accountant Readers, ;OHUR `V\ MVY ^YP[PUN [V \Z 4` UHTL PZ :PYL[ [OL L_LJ\[P]L LKP[VY VM [OL .SVIHS (JJV\U[HU[ THNHaPUL 0 HT ^YP[PUN PU YLZWVUZL [V `V\Y X\LZ[PVUZ YLNHYKPUN WYVMLZZPVUHS L_HTZ HUK PU ZVTL JHZLZ [OL JVUÄKLUJL ZVTL VM `V\ HYL SHJRPUN 7YVMLZZPVUHS L_HTZ HYL UV[ LHZ` [OL` ULLK KL[LYTPUH[PVU HUK KPZJPWSPUL OV^L]LY 0 KV ILSPL]L `V\ JHU WHZZ [OLZL WHWLYZ ^P[O ZVTL JSHYPÄJH[PVU -VY L_HTWSL (**( 7 7YVMLZZPVUHS (JJV\U[HU[ PZ HU HSS HUHS`ZPUN \UKLYZ[HUKPUN HUK ^YP[PUN WHWLY 9LHKPUN [OL X\LZ[PVUZ HUK HJ[\HSS` \UKLYZ[HUKPUN [OL YLX\PYLTLU[ PZ TVZ[ PTWVY[HU[ 0U T` VWPUPVU YLHKPUN [OL X\LZ[PVU WYPVY [V [OL

ZJLUHYPV ^PSS OLSW `V\ [V ÄS[LY YLSL]HU[ PUMVYTH[PVU

by showing their differences

Analyse Give reasons for the current situa-

-\Y[OLYTVYL [OL L_HTPULY OHZ ZHPK ¸OPNOLY SL]LS YLX\PYLTLU[ HUK ]LYIZ ^PSS IL TVZ[ ZPNUPÄJHU[ PU [OPZ WHWLY¹ @V\ T\Z[ \UKLYZ[HUK ^OH[ [OL L_HTPULY ^HU[Z 0[ PZ [OL SL]LS VM RUV^SLKNL [OH[ Z[\KLU[Z ULLK [V HWWS` PU H JLY[HPU ^H` :V ^OLU [OL X\LZ[PVU ZH`Z ¸9LJVTTLUK¹ P[ HJ[\HSS` TLHUZ! (K]PZL [OL HWWYVWYPH[L HJ[PVUZ [V [OL WLYZVU ^HU[PUN [OL PUMVYTH[PVU MYVT `V\ 0 OH]L SPZ[LK ZVTL PTWVY[HU[ ^VYKZ `V\ T\Z[ \UKLYZ[HUK [V IL HISL [V WHZZ [OPZ WHWLY HUK OLSW `V\ \UKLYZ[HUK ^OH[ [OL X\LZ[PVUZ ^HU[ `V\ [V KV

tion or what has happened. In this case you may have to compare with something to give a trend

Assess Determine the Strengths/WeakULZZLZ 0TWVY[HUJL :PNUPÄJHUJL ability to contribute

Discuss Examine in detail by using arguments for and against

Construct the Case Present the argument in favour, support by evidence

Evaluate Determine the value of in the light of the arguments for and against

Recommend Advise the appropriate actions in a way the recipient will understand

NSVIHSHJJV\U[HU[THNHaPUL JVT

A word about Models 0[ PZ X\P[L ZJHY` [V IL [VSK ¸*OVVZL HU HWWYVWYPH[L TVKLS¹ K\YPUN [OL L_HT 4VZ[ Z[\KLU[Z MLHY Z\JO X\LZ[PVUZ HZ [OL` Z\IZLX\LU[S` [OPUR ¸¯ HT 0 JOVVZPUN [OL JVYYLJ[ TVKLS& PM 0 JOVVZL [OL PUJVYYLJ[ TVKLS ^PSS 0 Y\PU T` JOHUJLZ VM NHPUPUN LUV\NO THYRZ [V WHZZ [OL X\LZ[PVU VY L]LU [OL L_HT ¹ ;HRL (**( 7 L_HT MVY L_HTWSL ¸>OLU Z[\KLU[Z HYL HZRLK [V \ZL H YLSL]HU[ TVKLS TVZ[ Z[\KLU[Z \ZL VULZ Z\JO HZ 7,:;,3 VY :>6;¹ JVTWSHPUZ [OL L_HTPULY 4VYLV]LY ZVTL Z[\KLU[Z L]LU NV M\Y[OLY HUK \ZL IV[O ^P[OPU VUL HUZ^LY ;OPZ PZ UV[ [V[HSS` ^YVUN HZ ZVTL TVKLSZ KV UV[ JV]LY HYLHZ [OH[ V[OLYZ TH` UV[

/V^L]LY P[ PZ JY\JPHS [V WSHU [OL answer as you are reading through the question linking the content to the question. @V\Y TPU\[LZ YLHKPUN [PTL ZOV\SK IL \ZLK ^PZLS` ;OPUR KV 0 OH]L LUV\NO [PTL [V YLWLH[ T`ZLSM ^OLYL TVKLSZ JV]LY [OL ZHTL MHJ[VYZ& >PSS 0 NHPU THYRZ MVY YLWLH[PUN T`ZLSM& ¯ 4H`IL UV[ 4VKLSZ ZOV\SK IL \ZLK H HZ N\PKL HUK H TLHUZ [V H ZRLSL[VU [V Z[Y\J[\YL PUMVYTH[PVU MVY `V\ [V MVSSV^ H TL[OVKVSVN` [OH[ ZOV\SK OLSW `V\ HUHS`ZL [OL ZJLUHYPV HUK HYYP]L H[ H JVUJS\ZPVU [OH[ ZOV\SK HSZV PUJS\KL YLJVTTLUKH[PVUZ BPM HZRLKD

19

20

Corporate Governance

Internal Control

COSO

PricewaterhouseCoopers, 2010,

Internal control taken to new level

;OL )HZPJ :[HUKHYK MVY ,U[LYWYPZL 0U[LYUHS *VU[YVS * :6? ^HZ PZZ\LK PU 1\UL I` [OL 4PUPZ[Y` VM -PUHUJL PU JVSSHIVYH[PVU ^P[O [OL 5H[PVUHS (\KP[ 6MÄJL HUK [OL [OYLL THQVY PUK\Z[Y` YLN\SH[VYZ ¶ [OL *OPUH :LJ\YP[PLZ 9LN\SH[VY` *VTTPZZPVU *:9* [OL *OPUH )HURPUN 9LN\SH[VY` *VTTPZZPVU *)9* HUK [OL *OPUH 0UZ\YHUJL 9LN\SH[VY` *VTTPZZPVU *09* <UKLY [OL )HZPJ :[HUKHYK [OL IVHYK VM KPYLJ[VYZ PZ YLZWVUZPISL MVY LZ[HISPZOPUN HUK PTWSLTLU[PUN HU LMMLJ[P]L PU[LYUHS JVU[YVS Z`Z[LT ^P[O H Z\WLY]PZVY` IVHYK TVUP[VYPUN [OL IVHYK»Z HJ[P]P[PLZ PU [OPZ HYLH ,U[LYWYPZLZ [V ^OPJO [OL Z[HUKHYK PZ HWWSPJHISL HYL YLX\PYLK [V \UKLY[HRL H ZLSM HZZLZZTLU[ [V JV]LY HSS RL` VIQLJ[P]LZ VM PU[LYUHS JVU[YVS VWLYH[PVUHS JVTWSPHUJL ZHMLN\HYKPUN VM HZZL[Z ÄUHUJPHS YLWVY[PUN Z[YH[LNPJ HUK KPZJSVZL [OLPY JVUJS\ZPVUZ PU HU HUU\HS ZLSM HZZLZZTLU[ YLWVY[ ;OPZ YLX\PYLTLU[ NVLZ IL`VUK MVY L_HTWSL [OL <: :HYIHULZ 6_SL` (J[ ^OPJO MVJ\ZLZ VUS` VU [OVZL JVU[YVSZ KPYLJ[S` YLSL]HU[ [V ÄUHUJPHS YLWVY[PUN ;OL LSLTLU[Z VM PU[LYUHS JVU[YVS KLÄULK I` [OL Z[HUKHYK HYL IYVHKS` JVUZPZ[LU[ ^P[O [OL Ä]L LSLTLU[Z WYLZJYPILK PU *6:6 0U[LYUHS *VU-

[YVS ¶ 0U[LNYH[LK -YHTL^VYR

ULHY M\[\YL [V OLSW JVTWHUPLZ PTWSL-

^P[O HKKP[PVUHS JVUJLW[Z MYVT [OL

TLU[ [OL PU[LYUHS JVU[YVSZ HUK WYLWHYL

*6:6 ,U[LYWYPZL 9PZR 4HUHNLTLU[ -YHTL^VYR These are:

[OL HUU\HS ZLSM HZZLZZTLU[ 0U HKKP[PVU [OL *OPULZL 0UZ[P[\[L VM *LY[PÄLK 7\ISPJ

‹ 0U[LYUHS LU]PYVUTLU[

(JJV\U[HU[Z ^PSS PZZ\L HU H\KP[PUN

‹ 9PZR HZZLZZTLU[

Z[HUKHYK VU PU[LYUHS JVU[YVSZ HSVUN

‹ *VU[YVS HJ[P]P[PLZ

[OL SPULZ VM [OL <: 7*(6) Z[HUKHYK

‹ 0UMVYTH[PVU JVTT\UPJH[PVU

(: (U H\KP[ VM PU[LYUHS JVU[YVS V]LY

[VVSZ

ÄUHUJPHS YLWVY[PUN [OH[ PZ PU[LNYH[LK ^P[O HU H\KP[ VM ÄUHUJPHS Z[H[LTLU[Z

‹ 0U[LYUHS TVUP[VYPUN *6:6 PZ [OL *VTTP[[LL VM :WVUZVYPUN 6YNHUPZH[PVUZ VM [OL ;YLHK^H` *VTTPZZPVU H NSVIHSS` YLJVNUPZLK IVK` VM WYVMLZZPVUHS VYNHUPZH[PVUZ WYV]PKPUN N\PKHUJL VU JYP[PJHS HZWLJ[Z VM NV]LYUHUJL I\ZPULZZ L[OPJZ PU[LYUHS JVU[YVS LU[LYWYPZL YPZR THUHNLTLU[ MYH\K HUK ÄUHUJPHS YLWVY[PUN *OPUH»Z YLN\SH[VYZ HYL L_WLJ[LK [V PZZ\L Z\WWSLTLU[HY` N\PKLSPULZ PU [OL

;OL 4PUPZ[Y` VM -PUHUJL OHZ `L[ [V JVUÄYT [OL LMMLJ[P]L KH[L VM [OL )HZPJ :[HUKHYK 6YPNPUHSS` ZL[ MVY 1\S` P[ PZ UV^ SPRLS` [V IL KLMLYYLK \U[PS 1HU\HY` ;OL SH[LY KH[L ^V\SK TLHU [OH[ JVTWHUPLZ SPZ[LK PU *OPUH HUK V]LYZLHZ ^V\SK ULLK [V HZZLZZ [OL LMMLJ[P]LULZZ VM [OLPY PU[LYUHS JVU[YVSZ HUK KPZJSVZL [OL YLZ\S[Z VM [OLPY HZZLZZTLU[ MVY [OL ÄUHUJPHS `LHY

NSVIHSHJJV\U[HU[THNHaPUL JVT

NEDs Pay PricewaterhouseCoopers, 2010, ยธ5L^ NSVIHS N\PKLSPULZ MVY 5,+ WH`ยน

;OL 0U[LYUH[PVUHS *VYWVYH[L .V]LY-

[OL IVHYKยปZ WOPSVZVWO` ILOPUK [OL

UHUJL 5L[^VYR 0*.5 OHZ JHSSLK MVY 5,+ WH` [V JVUZPZ[ ZVSLS` VM

KPYLJ[VY YLT\ULYH[PVU WYVNYHTTL ยป

H JHZO YL[HPULY HUK LX\P[` IHZLK YLT\ULYH[PVU ^P[OV\[ V[OLY WLYRZ ;OL JHSS PZ IHJRLK I` UL^ NSVIHS N\PKLSPULZ MVY 5,+ YLT\ULYH[PVU ^OPJO YLZWVUK [V ZOHYLOVSKLY JHSSZ MVY Z[YLUN[OLULK HJJV\U[HIPSP[` HUK [YHUZWHYLUJ` VM 5,+ WH` *VTTLU[PUN VU [OL UL^ N\PKLSPULZ [OL 0*.5 JOHPYTHU *OYPZ[PHUUH >VVK ZHPK! ยบ(Z [OL ZOHYLOVSKLYZยป YLWYLZLU[H[P]LZ UVU L_LJ\[P]L KPYLJ[VYZ HYL LSLJ[LK I` [OL V^ULYZ VM [OL JVTWHU` HUK T\Z[ OH]L H Z[YVUN HSPNUTLU[ VM PU[LYLZ[ ^P[O [OL V^ULYZ PU [OL MVYT VM TLHUPUNM\S LX\P[` V^ULYZOPW ^OPSL ZLY]PUN VU [OL IVHYK +PYLJ[VYZ OH]L H JVUร PJ[ VM PU[LYLZ[ PU [OH[ [OL` ZL[ [OLPY V^U WH` HUK HZ H YLZ\S[ ULLK [V WYV]PKL [OL \[TVZ[ [YHUZWHYLUJ` HUK JSLHYS` Z[H[L

A Plus the VMร JPHS THNHaPUL VM /20*7( November 2010, โ BDO to merge with Grant Thornton /VUN 2VUNยน

;OL JVYULYZ[VUL VM UVU L_LJ\[P]L KPYLJ[VY YLT\ULYH[PVU ZOV\SK IL HSPNUTLU[ VM PU[LYLZ[ IL[^LLU ZOHYLOVSKLYZ HUK 5,+Z ;OL N\PKLSPULZ Z\NNLZ[ [OH[ 5,+ YLT\ULYH[PVU ZOV\SK JVU[HPU HU V^ULYZOPW YLX\PYLTLU[ VY HU PUJLU[P]L [V I\PSK H WYLZJYPILK ZOHYLOVSKPUN /V^L]LY P[ Z\NNLZ[Z WYVOPIP[PUN [OL \ZL VM OLKNPUN VY V[OLY HYYHUNLTLU[Z [OH[ TP[PNH[L [OL YPZR VY ILULร [ VM ZOHYL V^ULYZOPW [V [OL 5,+

2L` HZWLJ[Z VM [OL N\PKLSPULZ are as follows: ย (SPNUTLU[ VM 5,+ PU[LYLZ[Z ^P[O [OL SVUN [LYT V^ULYZ ย 7LYMVYTHUJL IHZLK YLT\ULYH[PVU PZ UV[ HWWYVWYPH[L MVY 5,+Z ย 9LT\ULYH[PVU THKL \W VM H JHZO YL[HPULY HUK LX\P[` ^P[O-

ย *SLHY KPZJSVZ\YL ZOV\SK PUJS\KL [OL 5,+ YLT\ULYH[PVU WOPSVZVWO` ย ,X\P[` ZOV\SK IL ]LZ[LK PTTLKPH[LS` I\[ Z\IQLJ[ [V OVSKPUN WLYPVKZ ย *VTWHUPLZ ZOV\SK LZ[HISPZO V^ULYZOPW N\PKLSPULZ MVY 5,+Z ย 5,+Z ZOV\SK UV[ IL LSPNPISL MVY YL[PYLTLU[ ILULร [Z

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21

22

Interview

Q&A

Q.

What subject area did you Z[\K` H[ <UP]LYZP[`& /V^ KPK you balance your education with your social life? A. 0 THQVYLK PU MVYLPNU SHUN\HNLZ H[

<UP]LYZP[` ZWLJPÄJHSS` (YHIPJ -VY \UKLYNYHK\H[L Z[\KLU[Z 0 ILSPL]L H <UP]LYZP[` JHTW\Z PZ TVYL H ZVJPHS WSHJL [OHU HU HJHKLTPJ VUL ,]LY` ^LLR 0 ZWLU[ [V OV\YZ

Robert Wang, is an Assurance Associate at PricewaterhouseCoopers Beijing. The Global Accountant has interviewed Robert to learn what skills and qualities students and graduates need to succeed in their careers. Robert, studied foreign languages at university before he went on to studying a WYVMLZZPVUHS X\HSPÄJHtion with the Chinese 0UZ[P[\[L VM *LY[PÄLK Public Accountants *0*7( /PZ NYLH[est achievements are improving his clients accounting systems. Robert, believes communication skills is a must have to achieve a successful career.

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Q.

Do you currently have or studying towards any profesZPVUHS X\HSPÄJH[PVUZ& /V^ HYL `V\ ILULÄ[PUN MYVT P[& A. 0 WHZZLK *0*7( L_HTPUH[PVUZ

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Q.

Why are you interested in this career? A. ;OL TVZ[ H[[YHJ[P]L WHY[ VM

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Q.

What are your biggest achievements? A. (Z HU H\KP[VY T` IPNNLZ[

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Q.

Tell us about your main skills which enabled you to obtain your current job? A. ;OL ÄYZ[ ZOV\SK IL JVTT\UPJH-

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Q.

What motivates you?

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Q.

Where do you see yourself in Ä]L `LHYZ [PTL&

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Q.

What do you feel are the most important aspects of your job? A. 0UKLWLUKLUJL HUK [OL JVKL

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Q.

What do you think makes a good team? A. 0 ]HS\L [OYLL WVPU[Z!

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Q.

What advice would you give to students and other professionals who wish to follow a JHYLLY PU `V\Y ÄLSK& A. (U H\KP[ JHYLLY PZ H WYVMLZ-

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23

24

Study Skills

10

Top tips to help you prepare for those dreaded exams...

Time keeping is essential to success. For example, if you are taking your ACCA exams you will need to attempt all three questions (out of four). You will have 3 hours + 15 minutes reading time. This means you have 180 minutes to write and 1.8 minutes to gain one mark.

Once you have reached this time limit you must proceed to the next mark, or risk less time spent on gaining that next mark. So, if you think you already gained a mark then there is no point to keep on writing. We know very well how KPMÄJ\S[ P[ JHU IL I\[ which valuable thing is easy to obtain?

1

Look after yourself

It’s that time of year again when the sun is shining, the mercury is rising and [OL HPY PZ ÄSSLK ^P[O [OL frantic twitter of dawn birdsong. Such a shame that so many students are still awake at 5am to hear it, usually from the purgatory of a darkened room while hunched over a pile of books. Yes, it’s exam time. Global Accountant is giving you some tips on how to be prepared.

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2

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9

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3 7 4 8 10 5 Know your examiner

Be on top of the practicalities

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Past exam papers

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Your examiner’s marking scheme 4H`IL P[»Z HU V]LYZPTWSPÄJH[PVU [V HZZ\TL [OH[ PM [OL X\LZ[PVU JHYYPLZ [OYLL THYRZ [OLYL ULLK [V IL [OYLL WVPU[Z I\[ [OPZ PZU»[ H IHK Z[HY[ 0[ HSS KLWLUKZ VU `V\Y L_HT 4HYRZ JV\SK HSZV IL PU »Z ZV `V\ TH` ULLK ZP_ WVPU[Z 0[ JV\SK THRL H

6

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Don’t despair

Language

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Material

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Avoid post-mortems

25

26

Study Skills

Entering the leadership fast lane with CIMA

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)` (UKYL^ /HYKPUN Executive Director - CIMA Markets

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0U HKKP[PVU [V P[Z X\HSPÄJH[PVUZ WYVNYHT PU *OPUH *04( OHZ HSZV LTIHYRLK VU YLZLHYJO LMMVY[Z [V IL[[LY \UKLYZ[HUK OV^ ÄUHUJPHS JHYLLYZ HYL L]VS]PUN PU *OPUH HUK LSZL^OLYL HUK TVYL ZWLJPÄJHSS` OV^ [OL ULLKZ PU [OL ,HZ[ KPMMLY MYVT [OVZL PU [OL LJVUVTPLZ VM ,\YVWL HUK 5VY[O (TLYPJH ;OL NSVIHS Z\Y]L` TLU[PVULK LHYSPLY ¸(JJV\U[PUN [YLUKZ PU H IVYKLYSLZZ ^VYSK ¹ PZ WHY[ VM [OH[ WYVNYHT (UV[OLY YLWVY[ LHYSPLY PU ¸.SVIHS WLYZWLJ[P]LZ VU NV]LYUHUJL! SLZZVUZ MYVT ,HZ[ HUK >LZ[ ¹ L_HTPULK [OL KPMMLYLUJLZ PU NV]LYUHUJL TVKLSZ VWLYH[PUN PU [OL ,HZ[ HUK >LZ[ HUK JVUZPKLYLK [OL HK]HU[HNLZ IYV\NO[ I` LHJO *04( PZ HIV\[ THUHNLTLU[ HUK UV[ Q\Z[ HJJV\U[PUN *VTWL[P[PVU MVY [OL TVZ[ KLZPYHISL ÄUHUJPHS WVZ[Z·^OL[OLY PU [LYTZ VM JVTWLUZH[PVU PUÃ…\LUJL VY WLYZVUHS ZH[PZMHJ[PVU·PZ ILJVTPUN TVYL PU[LUZL PU *OPUH HUK V[OLY [VW THYRL[Z ;OL *04( X\HSPÄJH[PVU THYRZ JHUKPKH[LZ HZ ÄUHUJPHSS` X\HSPÄLK I\ZPULZZ SLHKLYZ

28

Business English

Direct and Indirect Costs Fixed and Variable Costs *VZ[ HJJV\U[PUN PU]VS]LZ JHSJ\SH[PUN [OL JVZ[ VM KPMMLYLU[ WYVK\J[Z VY ZLY]PJLZ [OH[ [OH[ JVTWHU`

-P_LK *VZ[Z HYL [OVZL [OH[ KV UV[ JOHUNL PU [OL ZOVY[ [LYT L]LU PM [OL WYVK\J[PVU SL]LS JOHUNLZ

THUHNLYZ JHU RUV^ ^OH[ WYPJL [V JOHYNL MVY WHY[PJ\SHY WYVK\J[Z HUK ZLY]PJLZ HUK ^OPJO HYL [OL TVZ[ WYVÄ[HISL +PYLJ[ JVZ[Z [OVZL [OH[ JHU IL KPYLJ[S` YLSH[LK [V [OL WYVK\J[PVU VM WHY[PJ\SHY \UP[Z VM H WYVK\J[ HYL X\P[L LHZ` [V JHSJ\SH[L ,_HTWSLZ PUJS\KL THU\MHJ[\YPUN TH[LYPHSZ HUK THU\MHJ[\YPUN ^HNLZ ;OLU [OLYL HYL HSZV 0UKPYLJ[ *VZ[Z VY 6]LYOLHKZ JVZ[Z HUK L_WLUZLZ [OH[ JHU UV[ IL PKLU[PÄLK ^P[O WHY[PJ\SHY THU\MHJ[\YPUN WYVJLZZLZ VY \UP[Z VY WYVK\J[PVU ,_HTWSLZ PUJS\KL YLU[ VY WYVWLY[` [H_LZ MVY [OL JVTWHU`»Z VMÄJLZ HUK MHJ[VYPLZ LSLJ[YPJP[` MVY SPNO[PUN OLH[PUN HUK ZV VU *VZ[ Z\JO HZ [OLZL HYL VM[LU NYV\WLK [VNL[OLY PU [OL 0UJVTL :[H[LTLU[

Z\JO HZ YLU[ HUK PU[LYLZ[ WH`TLU[Z =HYPHISL *VZ[Z HYL [OVZL [OH[ JOHUNL PU WYVWVY[PVU [V [OL ]VS\TL VM WYVK\J[PVU Z\JO HZ JVTWVULU[Z HUK YH^ TH[LYPHSZ HUK V]LY[PTL WH`TLU[Z VM ^HNLZ

Absorption Costing (IZVYW[PVU *VZ[PUN H[[LTW[Z [V JOHYNL HSS KPYLJ[ JVZ[Z HUK WYVK\J[PVU JVZ[Z HUK ZVTL[PTLZ HSS PUKPYLJ[ JVZ[Z Z\JO HZ HKTPUPZ[YH[P]L L_WLUZLZ [V LHJO VM [OL JVTWHU`»Z WYVK\J[ VY ZLY]PJLZ

NSVIHSHJJV\U[HU[THNHaPUL JVT

Business English section is provided to help intermediate and upper-intermediate learners of business English, improve their ÄUHUJPHS ]VJHI\SHY` HUK WLYOHWZ [OLPY RUV^SLKNL VM ÄUHUJL

Activity-based Costing

Brakeven Analysis

*HSJ\SH[LZ HSS [OL JVZ[Z JVUULJ[LK ^P[O WHY[PJ\SHY HJ[P]P[` L N WYVK\J[ KLZPNU THU\MHJ[\YPUN KPZ[YPI\[PVU L]LU PM [OL` HYL JHYYPLK V\[ I` KPMMLYLU[ KLWHY[TLU[Z PU [OL JVTWHU`

>OLU KLJPKPUN ^OL[OLY P[ ^V\SK IL WYVÄ[HISL [V WYVK\JL H WYVK\J[ VY VMMLY H ZLY]PJL JVTWHUPLZ KV H )YHRL]LU (UHS`ZPZ ;OPZ JVTWHYLZ L_WLJ[LK ZHSLZ VM [OL UL^ WYVK\J[ ^P[O L_WLJ[LK JVZ[Z IV[O KPYLJ[ HUK PUKPYLJ[ H[ ]HYPV\Z WYVK\J[PVU SL]LSZ ;OL IYHRL]LU WVPU[ PZ [OL ZHSLZ ]VS\TL [OL U\TILY VM \UP[Z ZVSK H[ ^OPJO [OL JVTWHU` JV]LYZ P[Z JVZ[Z WH`Z HSS P[Z L_WLUZLZ ;V THRL H WYVÄ[ P[ PZ ULJLZZHY` [V ZLSS TVYL [OHU [OPZ

29

30

Job Skills

do

Something

I clearly remember listening to fellow students complaining about the lack of work experience they had and how employers demanded prior work experience to be eligible to apply for certain accounting jobs.

8\LZ[PVUZ Z\JO HZ ¸ /V^ can you gain work experience if no one is actually providing you the opWVY[\UP[` [V ^VYR&¹ ;OL lecturer replied to the student, “You maybe are correct in thinking that, however, a good student is not always the one that achieves good exam results, but also the one which start looking for work in their penultimate `LHY¹

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NSVIHSHJJV\U[HU[THNHaPUL JVT

CV’s and covering letters are all about communicating your ability to perform. The employer will be looking for evidence that you have the required skills and qualities.

31

What skills have you got?

Team Working >OLU KPK `V\ JV VWLYH[L ^P[O V[OLYZ [V JHYY` V\[ H QVPU[ [HZR& >OH[ YVSL KPK `V\ \UKLY[HRL& .YV\W WYVQLJ[Z ;LHT ZWVY[Z [LHT ^VYRPUN PU H QVI .P]L L_HTWSLZ VM ^OH[ THRLZ `V\ H NVVK [LHT ^VYRLY >VYRPUN [VNL[OLY [V HJOPL]L ZOHYLK NVHSZ HUK [HYNL[Z KL]LSVWPUN VWLU YLSH[PVUZOPWZ ^P[O JVSSLHN\LZ HJ[P]LS` ZOHYPUN PUMVYTH[PVU HUK WVVSPUN ZRPSSZ JV VWLYH[PVU SPZ[LUPUN JVU[YPI\[PUN [V TLL[PUNZ HUK KPZJ\ZZPVUZ [YLH[PUN JVSSLHN\LZ ^P[O YLZWLJ[ Z\WWVY[PUN JVSSLHN\LZ ^OLU \UKLY WYLZZ\YL ÅL_PIPSP[`

Decision Making

Leadership >OLU `V\ HYL YLZWVUZPISL MVY THUHNPUN HUK N\PKPUN H NYV\W HUK

JOB

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>OH[ ZPNUPÄJHU[ KLJPZPVUZ OH]L `V\ THKL HUK ^OH[ ^HZ `V\Y YLZWVUZPIPSP[` MVY [OLT& (U` L_HT-

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Information Technology

Time Management and Organisational Skills

:OV^ [OH[ `V\ THUHNLK `V\Y V^U [PTL HUK ^VYR LMMLJ[P]LS` ,_HTWSL Z\JO HZ WYVQLJ[ ^VYR WSHUUPUN TLL[PUN KLHKSPULZ HUK L]HS\H[PUN ^OH[ `V\ KVUL LP[OLY HJHKLTPJHSS` VY H[ ^VYR )HSHUJ-

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32

Job Skills

Interview Tips Preparation, the interview

IV[O PTWVY[HU[ [V `V\ HUK JVTIPUL HU PU[LYLZ[ PU [OL JVTWHU` >YP[L

>OLU `V\»YL [HSRPUN ZOPM[ `V\Y NSHUJL MYVT VUL [V [OL V[OLY +VU»[

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Preparing to meet the employer

G4TT» [V ZOV^ `V\»YL SPZ[LUPUN [V

]PL^LK ^OH[ KV [OL` KV ^OH[ HYL [OLPY J\YYLU[ WYVQLJ[Z ^OH[ V[OLY PU[LYLZ[Z KV [OL` OH]L& )PNNLY JVTWHUPLZ ^PSS OH]L 79 KLWHY[TLU[Z ZTHSSLY VULZ ^PSS WYV]PKL `V\ ^P[O ZVTL PUMVYTH[PVU <ZL [OL PU[LYUL[ THU` JVTWHUPLZ OH]L H WYLZLUJL OLYL UV^ 4HRL Z\YL `V\ RUV^ ^OH[ [OL QVI LU[HPSZ NL[ H QVI KLZJYPW[PVU HZR ZVTLVUL PU H ZPTPSHY WVZ[ YPUN [OL JVTWHU` [V JSHYPM` PM `V\ HYL \UZ\YL

What about you? ;HRL [OL [PTL [V ZP[ KV^U HUK [OPUR HIV\[ `V\ ^OV `V\ HYL HUK ^OH[ `V\»]L HJOPL]LK 0[ JHU IL ]LY` LTIHYYHZZPUN [V IL HISL [V [HSR HIV\[ [OL LTWSV`LY I\[ UV[ HIV\[ `V\YZLSM :P[ KV^U ^P[O `V\Y *= HUK THRL UV[LZ HIV\[ `V\Y ^VYR YLJVYK HUK ^OH[ `V\»]L HJOPL]LK I\[ `V\ ZOV\SKU»[ OH]L [V SVVR H[ `V\Y *= PU [OL PU[LY]PL^ ;OPUR HIV\[ ^OH[ `V\Y NVHSZ HYL 4HRL Z\YL `V\Y HUZ^LYZ PU [OL PU[LY]PL^ HYL JVUZPZ[LU[ ^P[O ^OH[ `V\ W\[ PU `V\Y *=

Don’t forget your questions to them ;OLYL PZ \Z\HSS` [OL VWWVY[\UP[` [V HZR X\LZ[PVUZ H[ [OL LUK VM [OL PU[LY]PL^ YLTLTILY [OL PU[LY]PL^ PZ H [^V ^H` WYVJLZZ `V\ ULLK [V IL Z\YL `V\ ^HU[ [V QVPU [OLT [VV ;Y` [V JVUJLU[YH[L VU PZZ\LZ ^OPJO HYL

Presentation (S^H`Z KYLZZ YLHZVUHIS` MVYTHSS` -VYTHS KYLZZ MVY TLU TLHUZ H ZOPY[ HUK [PL H QHJRL[ HUK MVYTHS [YV\ZLYZ VUL VM [OL /9 THUHNLYZ JVUZ\S[LK MVY [OPZ JV\YZL [VSK \Z [OH[ ZVTL[PTLZ PU[LY]PL^LLZ ZOL OHK RUV^U OHK HYYP]LK PU QLHUZ HUK \UZOH]LU >LHY JSV[OLZ [OH[ HYL ZTHY[ I\[ [OH[ `V\ HSZV MLLS JVTMVY[HISL PU

Answering questions and body language 6UJL `V\ HYL HZRLK PU[V [OL PU[LY]PL^ YVVT [OLYL ^PSS \Z\HSS` IL H ZOVY[ L_JOHUNL VM WSLHZHU[YPLZ HUK PJL IYLHRPUN ;OPZ PUP[PHS [PTL PZ PTWVY[HU[ ÄYZ[ PTWYLZZPVUZ THRL H IPN KPMMLYLUJL +VU»[ NV V]LYIVHYK [Y`PUN [V PTWYLZZ HZ P[ ^PSS IL ]LY` VI]PV\Z ^OH[ `V\ HYL [Y`PUN [V KV ( WSLHZHU[ UH[\YHS ZTPSL H ÄYT OHUKZOHRL HUK H IYPLM L_JOHUNL VM ^VYKZ PU H UH[\YHS THUULY HYL Z\MÄJPLU[

Body language :P[ JVTMVY[HIS` ^P[O IV[O MLL[ VU [OL Ã…VVY +VU»[ ÄKNL[ 2LLW `V\Y OHUKZ V\[ VM `V\Y WVJRL[Z ;Y` UV[ [V JYLH[L KLMLUZP]L IHYYPLYZ IL[^LLU `V\ HUK [OLT SPRL H IYPLM JHZL VU `V\Y RULLZ MVSKLK HYTZ VY JYVZZLK SLNZ 4HPU[HPU UH[\YHS L`L JVU[HJ[ ^P[O [OL PU[LY]PL^LY I\[ KVU»[ Z[HYL SPRL H ZUHRL 0M [OLYL»Z TVYL [OHU VUL PU[LY]PL^LY SVVR H[ ^OV»Z [HSRPUN

[OLT (IV]L HSS [Y` [V IL `V\ [Y` [V IL UH[\YHS

Interview questions 0M `V\ HYL ^LSS WYLWHYLK [OLU [OL THQVYP[` VM THU` VM [OL WYVISLT PU[LY]PL^ X\LZ[PVUZ ZOV\SK UV[ HYPZL `V\ ^PSS RUV^ HIV\[ [OL JVTWHU` `V\ ^PSS RUV^ HIV\[ `V\YZLSM HUK `V\ ^PSS H OH]L H NVVK PKLH VM [OL KLTHUKZ VM [OL QVI [OLZL X\LZ[PVUZ ^PSS UV[ IL H WYVISLT [V [OL ^LSS WYLWHYLK PU[LY]PL^LL +VU»[ ^VYY` HIV\[ WH\ZPUN ILMVYL `V\ HUZ^LY P[ ZOV^Z `V\ JHU [OPUR +VU»[ ^VYY` HIV\[ HKTP[[PUN `V\ KVU»[ RUV^ ZVTL[OPUN I\[ RLLW [OPZ [V H IHYL TPUPT\T +VU»[ THRL \W PUMVYTH[PVU )L HZ OVULZ[ HZ WVZZPISL 9LTLTILY [V SPZ[LU JHYLM\SS` ILMVYL `V\ HUZ^LY 0M `V\ KVU»[ \UKLYZ[HUK [OL X\LZ[PVU KVU»[ IL HMYHPK [V HZR MVY JSHYPÄJH[PVU 7YHJ[PJL PZ ]LY` PTWVY[HU[ (J[ V\[ PU[LY]PL^Z ^P[O `V\Y MYPLUKZ MHTPS` JSHZZTH[LZ HU`VUL `V\ JHU ÄUK @V\ ULLK [V [Y` HUK SVVR WVPZLK JVUÄKLU[ HUK JVTMVY[HISL PU `V\Y WYHJ[PJL ZLZZPVUZ HZR `V\Y GPU[LY]PL^LYZ» MVY MLLKIHJR VU `V\Y IVK` SHUN\HNL ;OPZ HY[PJSL ÄYZ[ HWWLHYLK H[ www.britishcouncil.org/learnenglish and is reprinted with the permission of the British Council

^^^ NSVIHSHJJV\U[HU[THNHaPUL JVT

3VUKVU 6MÄJL! .SVIHS (JJV\U[HU[ 4HNHaPUL 2A06, South Bank Technopark 90 London Road London SE1 6LN <UP[LK 2PUNKVT

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