What after result?

Congratulation for those who passed all their papers sat in June 2011 and for those who do not pass all, don't keep it in mind and start thinking forward, failure is part and parcel of success and it is very common in ACCA exams.

Now we are moving into second term and this indicates that December 2011 is coming soon! Therefore, don't wait, start to revise what you had learnt in first term now because you will learn many more new things in second term. Don't do last minute study because the cumulative unrevised topics cannot be revised in a short time.

Remember ACCA is not an academic exam, to pass ACCA paper, the first condition is to cover the whole syllabus, the second condition is to practice enough questions to get the skill of attempting questions and the third condition is to revise in a continuing basis. If you have passed these 3 conditions, it is very likely that you will pass the exam.

Result time is decided

ACCA has decided to release the result at 22nd of August, 0500 BST (British Summer Time). This information can be found when you click on "myacca" at ACCA website. 0500 BST is equal to 12.00pm Malaysia time so take note of this, it is not 1.00pm :)

5 days to go for result

Result will be out in just 5 days away from this date, ie. release at 22nd of August 2011. The time of release is most likely 0500 GMT, ie. 1.00pm Malaysia time. If you had not registered to receive your result through email, the only choice for you is to try and log in to "myacca" at 1.00pm (best time) as many will start to log in and after a while you may not be able to log in due to high traffic. It is not possible to register to receive result through email now as I think the option is not there anymore in "myacca".

I wish you all the best in the result and hope to see you guys in second term ;)

When we inject capital, why we credit capital instead of debit capital?

Have you ever thought that when the owner invests money into the business, why does the double entry shows as debit cash, credit capital? Some of you may think that it is because of double entry principle that one entry must be debit and another must be credit. There is actually a reason behind it.

If you are unawared, to obtain a right (asset) there must be an obligation (liability). Therefore, applying this to the above case, image yourself as the business and one guy puts money into your pocket, you get the rights of using money but at the same time you will also have an obligation toward the guy who puts his money into your pocket.

Therefore, we credit capital account when it increases because it shows the obligation of the business to its owner, that means the amount that business owes to the owner.

Those who are studying ACCA P level papers should have such detailed understanding of something and not just learning something without knowing the reason. This is an example of the bigger picture of something :)