I need a clarification.

I just wrote my last paper in foundation stage yesterday. However I learnt that taxation will now be written in foundation stage from November 2019 onward.

I have already written the usual papers for foundation.

What is my fate in the skill level? Do I write the six papers or I will write taxation again in november as part of the foundation stage?

Thank you

All the best for those writing ICAN exams this diet... Meanwhile check my signature...

kaze4blues:
I need a clarification.

I just wrote my last paper in foundation stage yesterday. However I learnt that taxation will now be written in foundation stage from November 2019 onward.

I have already written the usual papers for foundation.

What is my fate in the skill level? Do I write the six papers or I will write taxation again in november as part of the foundation stage?

Thank you

You will write the 6 papers... Though taxation will be seen as foundation course.

POJOSH:


You will write the 6 papers... Though taxation will be seen as foundation course.

Thank you

Please fellow ACAs, can you help me with an example of an "intangible current asset"?

thanks

Intrepid01:
Please fellow ACAs, can you help me with an example of an "intangible current asset"?

thanks

Intangible items are long term in nature, one of it's key attribute is how difficult it is to value it since you can't determine its future economic benefit. Thus, making it not to fall under the current assets (ready to be sold, ability to be used within a 12 months period) category.

Happy to discuss a different opinion tho

mcpat:


Intangible items are long term in nature, one of it's key attribute is how difficult it is to value it since you can't determine its future economic benefit. Thus, making it to fall under the current assets (ready to be sold, ability to be used within a 12 months period) category.

Happy to discuss a different opinion tho

Thank you for your contribution but pls always focus on the question. I asked for an EXAMPLE of "an intangible current asset"....

I would appreciate you give an example

Intrepid01:


Thank you for your contribution but pls always focus on the question. I asked for an EXAMPLE of "an intangible current asset"....

I would appreciate you give an example

I think "receivables" are intangible current assets

Clifford007:


I think "receivables" are intangible current assets

Hmmm I like that thinking....

Receivables can be classified as intangible and current asset. anybody with a different opinion?

Intrepid01:


Thank you for your contribution but pls always focus on the question. I asked for an EXAMPLE of "an intangible current asset"....

I would appreciate you give an example

I answered your question stating that intangibles are not current assets.

Assets such as bank deposits, accounts receivable, and long-term investments in bonds and stocks lack physical substance, but are not classified as intangible assets. These assets are financial instruments and derive their value from the right or claim to receive cash or cash equivalents in the future.

Intrepid01:
Please fellow , can you help me with an example of an "intangible current asset"?

thanks

Clifford007:


I think "receivables" are intangible current assets

In accounting, receivables are not often said to be 'intangible' but often referred to as assets that are owed to the business. Proceeds from credit sales, accrued interest (to the company), unsupplied stock (to the company) etc are all receivables. If the owner(s) of the business perceives a possibility of unlikelihood to recover portions of any receivable, a provision for doubtful debt is made for it and even expensed as bad debt in extreme unlikelihood of recovery. Receivables are often current in nature for small to medium scale businesses even though long term (e.g interest receivable) exists. Receivables result from a third party not fulfilling its obligation to the business as at the time of report. Intangible assets on the other hand are assets that have no real physical value. Their values are often subjective. Examples includes patents, copyrights, franchise and even goodwill. I have not seen an intangible asset written off as bad debt because its value is already being enjoyed by the business unlike receivables.

mcpat:


I answered your question stating that intangibles are not current assets.

Assets such as bank deposits, accounts receivable, and long-term investments in bonds and stocks lack physical substance, but are not classified as intangible assets. These assets are financial instruments and derive their value from the right or claim to receive cash or cash equivalents in the future.

Hmmm...now this is great and for me thinking ...it's true Receivables and the likes, as you've stated are not classified as intangible assets...my question now is WHY? are they not qualified? ....is it because they are cash equivalents?....

@Clifford007, I think your suggestion has been challenged...what do you say?

DanXplore:





In accounting, receivables are not often said to be 'intangible' but often referred to as assets that are owed to the business. Proceeds from credit sales, accrued interest (to the company), unsupplied stock (to the company) etc are all receivables. If the owner(s) of the business perceives a possibility of unlikelihood to recover portions of any receivable, a provision for doubtful debt is made for it and even expensed as bad debt in extreme unlikelihood of recovery. Receivables are often current in nature for small to medium scale businesses even though long term (e.g interest receivable) exists. Receivables result from a third party not fulfilling its obligation to the business as at the time of report. Intangible assets on the other hand are assets that have no real physical value. Their values are often subjective. Examples includes patents, copyrights, franchise and even goodwill. I have not seen an intangible asset written off as bad debt because its value is already being enjoyed by the business unlike receivables.

Hmmm, wonderful thought process and valid standpoint. So I ask you again, does an example of an "intangible current asset" come to mind?

Intrepid01:


Hmmm, wonderful thought process and valid standpoint. So I ask you again, does an example of an "intangible current asset" come to mind?

I do not know of any intangible current assets. They are usually non current in nature.

Good evening professionals

Please how do I check my exemption status?

POJOSH:


You will write the 6 papers... Though taxation will be seen as foundation course.

If you check the November 2019 exam time table, you will notice pm and tax are slated to be written at the same time (9am - 12.15pm on Wednesday) . So how do one reconcile that?

Going by that, I don't think it's possible to write all 6papers in the old skill level this November.

Trulie:


If you check the November 2019 exam time table, you will notice pm and tax are slated to be written at the same time (9am - 12.15pm on Wednesday) . So how do one reconcile that?

Going by that, I don't think it's possible to write all 6papers in the old skill level this November.

Is November 2019 timetable out? Where did you see it?

jmanity:


Is November 2019 timetable out? Where did you see it?

Everybody knows the days of the exams don't change. Neither do the timing of each papers. The only things that change are the dates where those days fall in. Check the new syllabus and you will see the exam time table ican will be working with from November onwards.

With reference to Syllabus commencing in 2019. The exam time table could serve as a point to reference. Please down load it to enable you get your fact correct.

Trulie:


Everybody knows the days of the exams don't change. Neither do the timing of each papers. The only things that change are the dates where those days fall in. Check the new syllabus and you will see the exam time table ican will be working with from November onwards.

I didn't see it in mine, can you screenshot it?

jmanity:

I didn't see it in mine, can you screenshot it?

Go to page 15 of d new syllabus.

habayommy:
Good evening professionals

Please how do I check my exemption status?

Please how do I check my exemption status?

habayommy:


Please how do I check my exemption status?

Check your exam status, when it shows only the courses you are meant to write, then they have effected it.

I need the soft copies of skill level study pack.
I tried to download but the link is not available.

Send to alhassan.ilemona@gmail.com.
Soft copy of skill level study pack needed

Pls., i need hard copy study text of PSA and P.M. Drop ur digit here if u have in order to contact u. Please, be fair with ur prices. Location:lagos

Hello.

Please i need soft copy of ICAN foundation study pack and Past questions. Thanks
shayoeddy@gmail.com

stevyhann:
Send to alhassan.ilemona@gmail.com.
Soft copy of skill level study pack needed

Download from. NG books, simply type ican packs without password restrictions.

jmanity:


Check your exam status, when it shows only the courses you are meant to write, then they have effected it.

Thank you very much. I'm grateful

I have the Study Packs (hard copies) of Skills level. Its affordable

Good morning house, pls i need the soft copy of professional study packs.
Thank u in anticipation