Changes to ACCA OBU Degree

The following changes will be effective immediately for ACCA students who registered after 1 January 2007 and who will sit the new ACCA Fundamentals level papers in December 2007.

* RAP - research and analysis project

1. Project mentor is still required.
2. RAP will be graded A, B or C.
3. RAP word limit is increased to 6,500 words.
4. Overall class of degree will be determined by the average marks of F4 - F9 module papers and the RAP grading.
5. You have to submit the RAP and a Skills and Learning Statement. And you must pass both papers.
6. If you failed the first submission of RAP, you can only get "C" at best, for getting a pass on resubmission.
7. You are given 3 chances to secure a pass for RAP. After 3 "strikes", you are out!

Bottomline
The process to be a "graduate" has become more vigorous. You need to plan your time and effort as part of your ACCA education strategy. For more information, you may click www.accaglobal.com/students/study_exams/qualifications/degree/.

Positive impact of fair value gain for Ipco

On Dec 15, 2007, BT reported that fair-value gain boosted Ipco International's 6-month profit by more than 100% (ie. from $2.1mio ti $5,4mio on a revenue of $24.4mio) despite a 31.5% fall in first 6-month sales.

What is Ipco's business?
Ipco is essentially a developer and investor in oil and gas, water and environment infrastructure projects.

ESA Electronic, its subsidiary in the semiconductor equipment distribution business, responsible for 31.5 per cent fall in group's sales of goods to $11.9 million from $17.4 million.

This was offset by a rise in other revenue from $2.4 million to $8.2 million, which included $7.5 million in 'fair-value gain' on financial assets.

So without the fair-value gain, the Group's total revenue would be $16.9mio instead of the currently reported $24.4mio (a 16% drop instead).

So while Labroy and SembMarine have been negatively affected by financial assets valuation, we have a company here that has been glossed with positivities instead.

P/S - Fair-value gain of $7.5mio is accounted as "Other revenue". Hmmm...