1st ACCOUNTING CHAMPIONSHIP

OKR - Provide Monthly Management Reports to clients. Which is the margin we need to be in, to track the result from 0 to 1?

OKR - UFS should be correct at first attempt, when we send it to client. Linearly from 95% to 100%, where 95% is 0 and 100% is 1. Which is our current %?

OKR - File UFS to ACRA and ECI to IRAS without penalties for 100% of clients. Linearly from 98% to 100%, where 98% is 0 and 100% is 1. What is our current result?

OKR - Every accountant needs to introduce himself to new clients within 2 days. Linearly, where 90% is 0 and 100% is 1. Our current % is 80%, what is our kr then?

OKR: Every query of our clients needs to be answered within 24 hours. Linearly, where 95% is 0 and 100% is 1. If we always answer within 8 hours, what is our result in the okr?

ACCOUNTING PACKAGES - What is the % discount that we are applying to our packages if the client pays upfront and not monthly?

ACCOUNTING PACKAGES - How many packages do we have (including the MINI - Anual one?)

PRICING - How much do we charge for consolidation for a company that has 2 subsidiaries on top of the parent company??

ACCOUNTING - How many accounting clients do we have?

ACCOUNTING PRODUCTS - What % of the packages are we charging ND clients for ND Accounting review if they don't take our packages?

IFRS 9 sets out the standard for recognising financial assets at fair value. Which classification of Financial Assets is the default classification per IFRS 9?

For financial assets elected to be classified as amortised cost, it has to meet certain conditions before being designated at amortised cost. Which of the following are conditions for assets to be classified as amortised cost?

Share based payment transactions such as equity settled, have a fair value of recording transactions. Which of the following best describes how the value of payments arise, for equity settled share based payments?

4. Revaluation on assets are done on regular intervals, and have to be elected between the Cost Model or Revaluation Model. An asset is purchased at S$100,000 on 1 Jan 2019 and is to be depreciated over 5 years. At 31 December 2021, the Directors wish to revalue the asset to it's current market value. Details of the current market value of asset are as follows: 31 December 2020 - S$120,000 31 December 2021 - S$150,000 What is the value of the revaluation reserves as at 31 December 2021 based on the above?

Non-current Assets Held for Sale emphasizes the valuation of asset that should be carried in the financial statements when an asset meets the criteria to be classified as held for sale. On 30 April 2010, OCS wishes to sell an asset which it no longer has use for, and all criteria to reclassify the asset has been met. The carrying value of the asset at 30 June 2010 is S$ 170,000. Upon market research, it is found that the asset is valued at S$200,000. However, market conditions state that for the sale to be highly probable, it is best to lower prices of such assets by 15%. An agent is able to assist in selling this asset for a fee of S$5,000. State the value which OCS should value the asset in its financial statements as at 30 June 2010.