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PA1 Crack
Crack PA1-Competences
Please pay attention to the key words and make sure you master all of them well.Try and apply them in cases.
Technical Competencies (49-57%) Financial Accounting and Reporting
- Formulates, analyzes, and processes transactions in accordance with professional standards and policies(GAAP) (e.g., revenue and expense recognition; amortization of leaseholds; foreign exchange transactions; disposals, exchanges and retirements of capital assets; accounting for grants, subsidies, contributions, and loans)
-Researches, evaluates, and advises on the appropriate accounting treatment for complex transactions(GAAP) (e.g., step-by-step acquisitions, hedging, encumbrances and endowment trusts, compliance with GAAP, new financial instruments, derivatives)
-Interprets and advises on the organization’s reporting obligations(GAAP) (e.g., to shareholders, security commissions, regulatory agencies)
-Ensures the reliability of financial information (e.g., pension plan reconciliations; vendor/customer reconciliations; accuracy, existence and completeness of information)
-Prepares, analyzes, and interprets financial performance measures(Ratio) (e.g., comparative financial results, trend analyses)
-Evaluates and advises on accounting policies and procedures in accordance with professional standards(GAAP) (e.g., appropriate accounting standards for business combinations, joint ventures, international activities, research and development)
-Adapts policies and procedures in accordance with professional standards(GAAP) (e.g., accounting for capital assets, accounting and authorization for reserves)
-Evaluates and advises on financial accounting and related systems
- Adapts financial accounting systems in response to current and emerging developments (e.g., differential accounting, stock options, environmental regulations) Key words:transaction,prefessional standards,reporting,reliability,accounting system Assurance
-Evaluates and consults on the organization’s assurance needs(audit,review,compilation) (e.g., level of assurance required, attestation versus direct reporting, audit or review engagement)
-Determines the scope of the engagement (e.g., contents of engagement letter, foreign reporting requirements, responsibility for annual report, MD&A, environmental issues, not-for-profit assurance engagement)
-Determines or advises on whether to accept the engagement (e.g., evaluates potential clients, communicates with predecessor auditor, checks for conflict of interest)
-Evaluates risks and business issues to determine their impact on the engagement (e.g., materiality, nature, extent, and timing of engagement)
-Identifies, evaluates, and advises on internal control system, and communicates weaknesses to the appropriate level of the organization (e.g., financial approval authority, perpetual inventory system, credit control segregation of duties, evaluation of fraud risk factors, writing management letter)
-Advises on the design and implementation of new or enhanced internal controls (e.g., to strengthen systems and operational controls, to reduce exposure to business risks)
-Develops and/or modifies appropriate assurance procedures for an engagement (e.g., prepares review or audit procedures, modifies audit procedures in light of findings such as known errors or presence of fraud risk factors)
-Analyzes and documents the evidence and results of the assurance engagement (e.g., prepares clear working papers with sufficient detail to support the conclusion)
-Develops conclusions and prepares an assurance report or letter (e.g., prepares review or auditor’s report, prepares management letter)
-Develops and advises on a framework for the detection of fraud (e.g., payroll fraud, billing fraud, computer fraud, forensic investigation procedures) Key words:assurance needs,engagement,risks,internal control,audit procedures,audit evidence,audit report,detection of fraud General Business
-Advises on business decisions in the context of the legal framework (e.g., business registration, incorporation, labour laws)
-Recognizes market factors and adapts business decisions to the context of the organization’s sector and industry
-Identifies and analyzes risk factors
-Advises on issues of corporate governance (e.g., audit committee independence, executive compensation, director’s liability, board accountability) Key words:legal framework,market factor,sector and industry,risk,corporate governance Information Technology
- Identifies organization’s IT needs to meet financial data processing, control, and reporting requirements (e.g., identifies the key information required for the analysis and recommendation of an information system, assesses controls within an information system)
-Advises on financial implications of IT acquisitions and vendor selection (e.g., prepares requests for proposals and quotations and evaluates responses, evaluates financial and contractual aspects of acquisition of hardware and software)
-Advises on the development of IT strategy (e.g., IT strategic plans for the financial accounting, reporting, and management information systems; strategies to support end-user computing; standards and practices for information systems as they relate to financial information)
-Advises on the design, development, and implementation of IT projects (e.g., user-acceptance testing, business requirements definition, installation upgrades; systems, methods and procedures design; processing, data stores, input, and output design; conversion strategies for system delivery) Taxation ««
-Determines taxpayer’s liability (e.g., prepares or reviews personal or corporate income tax returns, determines tax installment requirements, determines GST and PST)
-Determines taxpayer’s taxation and regulatory requirements and exposure (e.g., advises on ITA compliance, applicability of taxation rules and regulations)
-Evaluates tax implications of proposed and completed transactions (e.g., use of special elections, reporting requirements, withholding taxes)
-Analyzes and advises on tax planning issues (e.g., purchase or sale of shares or assets, succession planning, trusts, estate planning) • Reviews, advises on, and replies to assessments and re-assessments
-Advises on and provides support for objections, appeals, and litigation Key words:Liability,taxation,regulatory requirement,tax implication,assessemnt,support for objection,appeals,and litigation
Non-Technical Competencies (43-51%) Ethics and Trust
-Applies professional ethical standards (e.g., understands and follows word and spirit of CGA–Canada Code of Ethical Principles and Rules of Conduct, maintains confidentiality, maintains independence where required, identifies and avoids conflicts of interest)
-Exercises consistently high level of professional judgment
-Protects the public interest (e.g., is proactive in maintaining and raising the visibility of the ethical nature of the profession and professional accounting standards)
-Plans and exercises due diligence (e.g., planning and constructing due diligence checklist in mergers and acquisitions or public listing cases, conducting financial statement reviews with financial due diligence, conducting operations and managing with due diligence)
-Assesses and advises on the organization’s policy on privacy of personal and corporate information (e.g., understands what information is sensitive and promotes its adequate safeguarding, recognizes application of privacy legislation) Key words:ethical standards,professional judgment,public interest,due diligence Communicating
-Expresses and exchanges information in a clear and concise manner (e.g., explains technical information in plain language, is technologically proficient in software such as spreadsheets and PowerPoint presentations)
-Ensures that information is communicated to the appropriate people on a timely basis (e.g., provides information to the audit committee of the board of directors)
-Selects an appropriate medium to convey information, ideas, and results (e.g., adapts reports and presentations to the intended audience)
-Prepares a wide variety of reports for specific purposes using clear, communicative, and professional language (e.g., audit reports, management letters, consulting reports, financial reports) Integrative Approach
-Aggregates information from a variety of sources to obtain the “big picture” (e.g., obtains multiple opinions when evaluating contentious issues and reconciles these various opinions)
-Builds relationships across functional areas and synthesizes or combines ideas and approaches (e.g., coordinates the relevant accounting, assurance, finance, information technology, and taxation implications of events and transactions; provides litigation support)
-Identifies implications and extends solutions beyond the immediate or short-term (e.g., considers potential impact of decisions on other systems [such as internal controls], other departments [such as IT], or other functional areas [such as finance])
-Applies cross-functional technical knowledge to create integrative solutions (e.g., within and across functional areas, “vertical” and “horizontal” integration of knowledge) Key Words:big picture,across functional arears,long-term vs. short term,integrative solutions Problem Solving
-Uses a systematic approach to problem solving from identifying the problem to developing and reporting recommendations
-Defines and formulates problems within a clear purpose, frame of reference, and scope
-Collects, selects, verifies, and evaluates information relevant to the defined problem
-Analyzes data for patterns, relationships, and trends
-Assembles findings and conclusions to form a sound basis for decision making
-Considers alternative solutions and shapes recommendations Professional Self Evaluation
- Knows when and how to refer to other professionals and experts (e.g., seeks advice or refers clients in areas such as law, IT, financial instruments, international business development)
-Applies professional skepticisim (e.g., maintains a questioning mind that is vigilant for potential misstatements, considers where problems are likely to arise and monitors these areas) Key Words:refer to other professional and expert,professional scepticism Planning
-Identifies and evaluates strengths, weaknesses, opportunities, and threats associated with an organization’s operational and administrative processes SWOT (e.g., reputational, process, liquidity risk; ability to hire the right people; personnel, location, brand recognition) Measuring and Monitoring
-Evaluates the outcomes of business activities and processes against objectives and benchmarks, and advises on further action (e.g., conducts and reports on gap analysis)
-Measures, evaluates, and reports on the effects of change on business activities and processes (e.g., new accounting technology, organizational restructuring)
-Designs, evaluates, and reports on internal control systems to ensure that management information is complete and accurate (e.g., assesses integrity of reporting system) Key Words:outcomes against benchmarks,future action,effect of changes,internal control system Team Leadership and Development
-Alerts others to the need for specific changes in the way things are done Client Focus ««
-Anticipates and meets the needs and expectations of internal and external clients (e.g., develops a sound understanding of a client’s organization in order to identify its needs; determines what information is needed by various departments and provides relevant information for decision-making)
- Applies client focus, recognizing and observing the need for independence and objectivity (e.g., puts the client’s or organization’s interests to the fore and establishes and maintains strong rapport, but ensures that independence in fact and in appearance is maintained to the degree demanded by the need to remain objective)
-Represents clients’ interests when changes are proposed to standards and regulations Key words:clients' needs and expectation,independence,objectivity,standards and regulations' changes
Crack PA1-Changes
Changes: Please pay more attention to changes In PA1 changes should be noticed and proper actions are also taken to treat them: leadship: Alerts others to the need for specific changes in the way things are done Measuring and Monitoring
-Measures, evaluates, and reports on the effects of change on business activities and processes Client Focus
-Represents clients’ interests when changes are proposed to standards and regulations Internal changes of client:
1.business environment:competition;new government policy,threat and opportunity,new law,economic situation
2.top level management change
3.business related issues:new capital,new product,disposal,business risk,merge or consolidation,new transactions,new accounting policy,accounting estimate change,expansion, 4.major internal conrol change(business process,people change，etc)
5.investment 6.business risk
auditor's change:
1.independence
2.audit risk
3.nature,time and extent When dealing with a case we should pay attention to those changes and their impacts on professionalism, client's business , client's bottom line, economic consequence , tax implication.And then as a professioal we also analyze and evaluate the effects of those change and inform clients and colleages to take actions and encounter those changes in short and long term views. As a professioal we also focus on client interest while protecting public interest.
PA1 Crack-Brainstrom
Brainstrom is very critical to PA1.Try to generate more issues and solutions to those issues.I used brainstroms during PA1 learning. I have also tried to figue out the logics behind the competence group.Hope can give you some hints. Professoinalism: demonstrate competences and apply core knowledge Objectivity(Independence)>due diligence>Professional scepticism >Changes>Financial reporting >Business >Goal/Objectives >Ethic and trust(conflict of interest) >Internal control >Business environment(market,industry,competition,business risk,financial risks) >Taxation Financial accounting: GAAP(transactions,reporting,accounting policies and procedures) financial performance measures reliability accounting system Assurance: clients needs>engagement management(scope,accept or not,risks and business issues) >IC(enhance internal control,error,detection of fraud) >audit procedures >documentation(appropriate sufficient evidence) >reports(communications) General business: business decisions>legal framework >market factor >sector and industry risks>business risk >financial risk >default of contract and liability >constraint of contract corporate governance IT: IT needs IT strategy IT project financial applications of IT purchase and vendor selection Taxation: taxpayer's liability>taxation >Tax planing(complicate transactions) > regualtory requirement and exposure >assessement and reassessment >objection,appeals,litigation Ethic and trust: Professional ethical standards professional judgement protect public interest due diligence privacy Communicating: information(clear and concise)>appropriate people (timely) >appropriate medium >Various report(audit report,financial report,management letter,etc)
Crack PA1-integration
I used excel to document possible integrated area in PA1. It looks like a matrix as blow: AU1 FA4 MA2 AT1 GAAP Ethic Au1 FA4 MA2 .... You may populate the chart where the integration may occur. (I can not upload my file here due to the attachment limitation) I think it's very useful.
Crack PA1-Writing
Fast write is not essential to pass PA1 but your writing should apply and demonstrate your competences as required. Oueline all the case in your mind or in paper to make your writing logical and friendly to its reader. Practice may help more but think first about the issues and the competency points and how to demonstrate them. Hand write your weekly assignments and case work as you go through the modules. You will thank me later.更多精彩文章及讨论，请光临枫下论坛 rolia.net
PA1 Crack
Crack PA1-Competences
Please pay attention to the key words and make sure you master all of them well.Try and apply them in cases.
Technical Competencies (49-57%) Financial Accounting and Reporting
- Formulates, analyzes, and processes transactions in accordance with professional standards and policies(GAAP) (e.g., revenue and expense recognition; amortization of leaseholds; foreign exchange transactions; disposals, exchanges and retirements of capital assets; accounting for grants, subsidies, contributions, and loans)
-Researches, evaluates, and advises on the appropriate accounting treatment for complex transactions(GAAP) (e.g., step-by-step acquisitions, hedging, encumbrances and endowment trusts, compliance with GAAP, new financial instruments, derivatives)
-Interprets and advises on the organization’s reporting obligations(GAAP) (e.g., to shareholders, security commissions, regulatory agencies)
-Ensures the reliability of financial information (e.g., pension plan reconciliations; vendor/customer reconciliations; accuracy, existence and completeness of information)
-Prepares, analyzes, and interprets financial performance measures(Ratio) (e.g., comparative financial results, trend analyses)
-Evaluates and advises on accounting policies and procedures in accordance with professional standards(GAAP) (e.g., appropriate accounting standards for business combinations, joint ventures, international activities, research and development)
-Adapts policies and procedures in accordance with professional standards(GAAP) (e.g., accounting for capital assets, accounting and authorization for reserves)
-Evaluates and advises on financial accounting and related systems
- Adapts financial accounting systems in response to current and emerging developments (e.g., differential accounting, stock options, environmental regulations) Key words:transaction,prefessional standards,reporting,reliability,accounting system Assurance
-Evaluates and consults on the organization’s assurance needs(audit,review,compilation) (e.g., level of assurance required, attestation versus direct reporting, audit or review engagement)
-Determines the scope of the engagement (e.g., contents of engagement letter, foreign reporting requirements, responsibility for annual report, MD&A, environmental issues, not-for-profit assurance engagement)
-Determines or advises on whether to accept the engagement (e.g., evaluates potential clients, communicates with predecessor auditor, checks for conflict of interest)
-Evaluates risks and business issues to determine their impact on the engagement (e.g., materiality, nature, extent, and timing of engagement)
-Identifies, evaluates, and advises on internal control system, and communicates weaknesses to the appropriate level of the organization (e.g., financial approval authority, perpetual inventory system, credit control segregation of duties, evaluation of fraud risk factors, writing management letter)
-Advises on the design and implementation of new or enhanced internal controls (e.g., to strengthen systems and operational controls, to reduce exposure to business risks)
-Develops and/or modifies appropriate assurance procedures for an engagement (e.g., prepares review or audit procedures, modifies audit procedures in light of findings such as known errors or presence of fraud risk factors)
-Analyzes and documents the evidence and results of the assurance engagement (e.g., prepares clear working papers with sufficient detail to support the conclusion)
-Develops conclusions and prepares an assurance report or letter (e.g., prepares review or auditor’s report, prepares management letter)
-Develops and advises on a framework for the detection of fraud (e.g., payroll fraud, billing fraud, computer fraud, forensic investigation procedures) Key words:assurance needs,engagement,risks,internal control,audit procedures,audit evidence,audit report,detection of fraud General Business
-Advises on business decisions in the context of the legal framework (e.g., business registration, incorporation, labour laws)
-Recognizes market factors and adapts business decisions to the context of the organization’s sector and industry
-Identifies and analyzes risk factors
-Advises on issues of corporate governance (e.g., audit committee independence, executive compensation, director’s liability, board accountability) Key words:legal framework,market factor,sector and industry,risk,corporate governance Information Technology
- Identifies organization’s IT needs to meet financial data processing, control, and reporting requirements (e.g., identifies the key information required for the analysis and recommendation of an information system, assesses controls within an information system)
-Advises on financial implications of IT acquisitions and vendor selection (e.g., prepares requests for proposals and quotations and evaluates responses, evaluates financial and contractual aspects of acquisition of hardware and software)
-Advises on the development of IT strategy (e.g., IT strategic plans for the financial accounting, reporting, and management information systems; strategies to support end-user computing; standards and practices for information systems as they relate to financial information)
-Advises on the design, development, and implementation of IT projects (e.g., user-acceptance testing, business requirements definition, installation upgrades; systems, methods and procedures design; processing, data stores, input, and output design; conversion strategies for system delivery) Taxation ««
-Determines taxpayer’s liability (e.g., prepares or reviews personal or corporate income tax returns, determines tax installment requirements, determines GST and PST)
-Determines taxpayer’s taxation and regulatory requirements and exposure (e.g., advises on ITA compliance, applicability of taxation rules and regulations)
-Evaluates tax implications of proposed and completed transactions (e.g., use of special elections, reporting requirements, withholding taxes)
-Analyzes and advises on tax planning issues (e.g., purchase or sale of shares or assets, succession planning, trusts, estate planning) • Reviews, advises on, and replies to assessments and re-assessments
-Advises on and provides support for objections, appeals, and litigation Key words:Liability,taxation,regulatory requirement,tax implication,assessemnt,support for objection,appeals,and litigation
Non-Technical Competencies (43-51%) Ethics and Trust
-Applies professional ethical standards (e.g., understands and follows word and spirit of CGA–Canada Code of Ethical Principles and Rules of Conduct, maintains confidentiality, maintains independence where required, identifies and avoids conflicts of interest)
-Exercises consistently high level of professional judgment
-Protects the public interest (e.g., is proactive in maintaining and raising the visibility of the ethical nature of the profession and professional accounting standards)
-Plans and exercises due diligence (e.g., planning and constructing due diligence checklist in mergers and acquisitions or public listing cases, conducting financial statement reviews with financial due diligence, conducting operations and managing with due diligence)
-Assesses and advises on the organization’s policy on privacy of personal and corporate information (e.g., understands what information is sensitive and promotes its adequate safeguarding, recognizes application of privacy legislation) Key words:ethical standards,professional judgment,public interest,due diligence Communicating
-Expresses and exchanges information in a clear and concise manner (e.g., explains technical information in plain language, is technologically proficient in software such as spreadsheets and PowerPoint presentations)
-Ensures that information is communicated to the appropriate people on a timely basis (e.g., provides information to the audit committee of the board of directors)
-Selects an appropriate medium to convey information, ideas, and results (e.g., adapts reports and presentations to the intended audience)
-Prepares a wide variety of reports for specific purposes using clear, communicative, and professional language (e.g., audit reports, management letters, consulting reports, financial reports) Integrative Approach
-Aggregates information from a variety of sources to obtain the “big picture” (e.g., obtains multiple opinions when evaluating contentious issues and reconciles these various opinions)
-Builds relationships across functional areas and synthesizes or combines ideas and approaches (e.g., coordinates the relevant accounting, assurance, finance, information technology, and taxation implications of events and transactions; provides litigation support)
-Identifies implications and extends solutions beyond the immediate or short-term (e.g., considers potential impact of decisions on other systems [such as internal controls], other departments [such as IT], or other functional areas [such as finance])
-Applies cross-functional technical knowledge to create integrative solutions (e.g., within and across functional areas, “vertical” and “horizontal” integration of knowledge) Key Words:big picture,across functional arears,long-term vs. short term,integrative solutions Problem Solving
-Uses a systematic approach to problem solving from identifying the problem to developing and reporting recommendations
-Defines and formulates problems within a clear purpose, frame of reference, and scope
-Collects, selects, verifies, and evaluates information relevant to the defined problem
-Analyzes data for patterns, relationships, and trends
-Assembles findings and conclusions to form a sound basis for decision making
-Considers alternative solutions and shapes recommendations Professional Self Evaluation
- Knows when and how to refer to other professionals and experts (e.g., seeks advice or refers clients in areas such as law, IT, financial instruments, international business development)
-Applies professional skepticisim (e.g., maintains a questioning mind that is vigilant for potential misstatements, considers where problems are likely to arise and monitors these areas) Key Words:refer to other professional and expert,professional scepticism Planning
-Identifies and evaluates strengths, weaknesses, opportunities, and threats associated with an organization’s operational and administrative processes SWOT (e.g., reputational, process, liquidity risk; ability to hire the right people; personnel, location, brand recognition) Measuring and Monitoring
-Evaluates the outcomes of business activities and processes against objectives and benchmarks, and advises on further action (e.g., conducts and reports on gap analysis)
-Measures, evaluates, and reports on the effects of change on business activities and processes (e.g., new accounting technology, organizational restructuring)
-Designs, evaluates, and reports on internal control systems to ensure that management information is complete and accurate (e.g., assesses integrity of reporting system) Key Words:outcomes against benchmarks,future action,effect of changes,internal control system Team Leadership and Development
-Alerts others to the need for specific changes in the way things are done Client Focus ««
-Anticipates and meets the needs and expectations of internal and external clients (e.g., develops a sound understanding of a client’s organization in order to identify its needs; determines what information is needed by various departments and provides relevant information for decision-making)
- Applies client focus, recognizing and observing the need for independence and objectivity (e.g., puts the client’s or organization’s interests to the fore and establishes and maintains strong rapport, but ensures that independence in fact and in appearance is maintained to the degree demanded by the need to remain objective)
-Represents clients’ interests when changes are proposed to standards and regulations Key words:clients' needs and expectation,independence,objectivity,standards and regulations' changes
Crack PA1-Changes
Changes: Please pay more attention to changes In PA1 changes should be noticed and proper actions are also taken to treat them: leadship: Alerts others to the need for specific changes in the way things are done Measuring and Monitoring
-Measures, evaluates, and reports on the effects of change on business activities and processes Client Focus
-Represents clients’ interests when changes are proposed to standards and regulations Internal changes of client:
1.business environment:competition;new government policy,threat and opportunity,new law,economic situation
2.top level management change
3.business related issues:new capital,new product,disposal,business risk,merge or consolidation,new transactions,new accounting policy,accounting estimate change,expansion, 4.major internal conrol change(business process,people change，etc)
5.investment 6.business risk
auditor's change:
1.independence
2.audit risk
3.nature,time and extent When dealing with a case we should pay attention to those changes and their impacts on professionalism, client's business , client's bottom line, economic consequence , tax implication.And then as a professioal we also analyze and evaluate the effects of those change and inform clients and colleages to take actions and encounter those changes in short and long term views. As a professioal we also focus on client interest while protecting public interest.
PA1 Crack-Brainstrom
Brainstrom is very critical to PA1.Try to generate more issues and solutions to those issues.I used brainstroms during PA1 learning. I have also tried to figue out the logics behind the competence group.Hope can give you some hints. Professoinalism: demonstrate competences and apply core knowledge Objectivity(Independence)>due diligence>Professional scepticism >Changes>Financial reporting >Business >Goal/Objectives >Ethic and trust(conflict of interest) >Internal control >Business environment(market,industry,competition,business risk,financial risks) >Taxation Financial accounting: GAAP(transactions,reporting,accounting policies and procedures) financial performance measures reliability accounting system Assurance: clients needs>engagement management(scope,accept or not,risks and business issues) >IC(enhance internal control,error,detection of fraud) >audit procedures >documentation(appropriate sufficient evidence) >reports(communications) General business: business decisions>legal framework >market factor >sector and industry risks>business risk >financial risk >default of contract and liability >constraint of contract corporate governance IT: IT needs IT strategy IT project financial applications of IT purchase and vendor selection Taxation: taxpayer's liability>taxation >Tax planing(complicate transactions) > regualtory requirement and exposure >assessement and reassessment >objection,appeals,litigation Ethic and trust: Professional ethical standards professional judgement protect public interest due diligence privacy Communicating: information(clear and concise)>appropriate people (timely) >appropriate medium >Various report(audit report,financial report,management letter,etc)
Crack PA1-integration
I used excel to document possible integrated area in PA1. It looks like a matrix as blow: AU1 FA4 MA2 AT1 GAAP Ethic Au1 FA4 MA2 .... You may populate the chart where the integration may occur. (I can not upload my file here due to the attachment limitation) I think it's very useful.
Crack PA1-Writing
Fast write is not essential to pass PA1 but your writing should apply and demonstrate your competences as required. Oueline all the case in your mind or in paper to make your writing logical and friendly to its reader. Practice may help more but think first about the issues and the competency points and how to demonstrate them. Hand write your weekly assignments and case work as you go through the modules. You will thank me later.更多精彩文章及讨论，请光临枫下论坛 rolia.net