DAVID LAWES AAT CPD PLANNER 1-9-13 TO 31-8-14

NAME : DAVID LAWES AAT REG. NO. 10095932
PLAN
GOALS LEARNING NEEDS ACTION
NOW?
ACTIVITIES DONE? LEARNING OUTCOMES MET NOTES
Revise calculation of
variances in standard
costing
Need to be able to
explain to students
how variances are
calculated
YES Re-read own notes on
variance analysis
Respond to students'
queries on AAT
Distance Learning
Facebook site
YES
8/9/13
Remembered that
you're working with 3
sets of figures ;
standard cost of
budgeted
production, standard
cost of actual
production and
actual cost of actual
production
Update knowledge of
audit risk
Need to be able to
distinguish between
audit and business
risk - preparation for
future role as
financial auditor
YES Watch official ACCA
YouTube video on audit
risk (by John Glover)
Update own slides on
audit risk
YES
15/9/13
Better understanding
of difference
between audit risk
and business risk
YES
Update knowledge of
accounting treatment
of provisions and
contingencies
Keep up to date
with accounting
standards in
preparation for
future career as
auditor or analyst
YES Read article by Steve
Collings on "Accounting
for Provisions and
Contingencies" (on
Steve Collings' website)
Update own
PowerPoint slides on
liabilities
YES
22/10/13
Better grasp of
difference between
an accrual and a
provision
YES An extremely good
article by Steve
Collings
ASSESS ACTION EVALUATE
AAT C.P.D. PLANNER 1/9/2013 TO 31/8/2014
DAVID LAWES AAT CPD PLANNER 1-9-13 TO 31-8-14 PAGE 1 OF 9 DATE PRINTED : 31/08/2014 18:07

PLAN
NOW?
Inform myself regarding
current proposed
changes to IAS39
(financial instruments ;
recognition and
measurement)
Need to understand
current IASB
proposals to
recognise
impairment losses on
the basis of
expected credit
losses, rather than
incurred ones
YES Read STUDENT
ACCOUNTANT (October
2013) article by Tom
Clendon on current
proposals to change
IAS39
accounting for assets
YES
9/11/13
Now understand why
the IASB wants to
move towards
expected lifetime
credit losses as the
basis for recognition
of impairment losses
YES
Gain an understanding
on proposed changes
to the fundamentals of
audit reporting arising
from the May 2011
consultation paper :
ENHAMCING THE VALUE
OF AUDITOR
REPORTING :
EXPLORING OPTIONS
FOR CHANGE
Preparation for
future role as analyst
or auditor
YES Read article from
STUDENT ACCOUNTANT
October 2013 on post-
May 2011 proposed
changes to the scope
of auditor reporting
Update own
Introduction to Audit
YES
16/11/13
Learnt that auditors
will have to focus a
lot more on going
concern and areas of
significant
judgement, and
comment more fully
on these. This is likely
to drive up costs.
YES
Understand the three
types of corporate
insolvency
Preparation for
future role as analyst
or auditor
YES Listen to Steve Carlyle's
podcast on insolvency
(on AAT website under
e-learning)
business finance
YES
3/12/13
Understand the
difference between
liquidation,
receivership and
administration
YES

PLAN
NOW?
Understand restrictive
covenants in contracts
of employment relating
to commercial
confidentiality
Need to understand
how a business
protects itself
against employees
leaving and working
for competitors
YES Read article by Gareth
Matthews, partner at
Eversheds, regarding
restrictive covenants in
contracts of
employment (on AAT
website)
confidentiality
YES
8/12/13
Know about "non-
compete" clauses
and "non-solicitation
clauses" in contracts
of employment
YES
Revise current
operating cycle and
credit control policy
Training for future
role as financial
analyst or auditor
YES Practise ACCA Paper F9
(Financial
Management), June
2013, Question 3 (TGA
Co), put answers into
spreadsheet and
compare with official
answers
obtaining business
finance with notes on
credit management
policy
YES
24/12/13
Now understand
working capital cycle
Can model scenarios
in EXCEL on differing
scenarios for
receivables
collection, payables
payment, etc using
own spreadsheet
Now understand
elements of credit
management policy

PLAN
NOW?
Expand knowedge of
investment appraisal
techniques
Training for future
role as financial
analyst or auditor
YES Read article entitled,
"Advanced
Invesetment Appraisal"
(by William Parrott) from
STUDENT ACCOUNTANT,
October 2010
Set up a spreadsheet to
practise the worked
example (CBS Co) in
the article
Compare the answers
with those givenin the
article
YES
19/1/14
Learnt the following;
Distinction between
relevant and
irrelevant cash flowsd
Use of the Fisher
formula to calculate
a money method
cost of capital
The difference
between a PERIOD of
time and a POINT IN
TIME and how to
reflect this in a cash
flow table
YES Will need to revisit this
periodically as it is
extremely tricky
Understand the
concept of capital
structure
Training for future
role as financial
analyst or auditor
YES Read article by Patrick
Lynch in STUDENT
ACCOUNTANT 06/2009 -
OPTIMUM CAPITAL
Update own
PowerPoint slideson
Obtaining Business
Finance
YES
9/2/14
Learnt about the
definition of cpaital
structure, the
advantages and
disadvantages of
debt and equity and
the "pecking order"
for choosing the best
balance between
the two
YES

PLAN
NOW?
Revise and expand
knowledge of IAS18
(Revenue)
Need to refresh
knowledge of basic
accounting
standards on a
regular basis
YES Watch "Watch and
leqrn" video on
"Revenue Recognition"
(on YouTube) -
available via ACCA
website
Update own
asset-related IASs
YES
16/2/14
Now have a better
understanding of
how deferred income
is accounted for, also
long-term service
contracts and
factored debts
YES
Update knowledge of
budgetary planning
Need to grasp
difference between
traditional and
modern
approaches
YES Listen to Steve Carlyle's
podcast on"Budgetting
in the Finance Function"
Update own
budgetary planning
(management issues)
YES
3/3/14
Now have a better
grasp of traditional v
modern approaches
ot budgeting
YES
Acquire knowledge of
FRS 102 and effects on
accounting
Will apply to year-
ends of 31/12/15
and later so need to
gain knowledge
now
YES Attend NW London
branch event
"Accounting Standards
Update" on 5 March
2014
YES
5/3/14
Now understand how
FRS 102 affects
unlisted businesses
and will eventually
replace UK GAAP
altogether
YES
Respond to students'
queries on AAT
Distance Learning
Facebook site
Preparation for
possible career as
accountingt tutor
YES Read students' queries
on AAT Distance
Ldearning Facebook
site and respond as
appropriate
YES ongoing Ongoing

PLAN
NOW?
Refresh knowledge of
business forecasting
strategy
Preparation for
future career as
business analyst
YES Read article by Ken
Garrett in STUDENT
ACCOUNTANT JANUARY
2011 on "Business
Forecasting and
Strategy"
Compile a spreadsheet
for calculating moving
averages
Update own
forecasting
YES
26/3/14
Now appreciate the
difference between
risj and uncertainty,
and understand the
limitations of linear
regression
YES
Understand the
different types of
business finance
availablem and their
advantages and
disadvantages
Preparation for
future career as
business analyst
YES Read artcile by William
Parrott in STUDENT
ACCOUNTANT June
2011 on "Analysing the
suitability of financing
alternatives"
Updates PowerPoint
sides on obtaining
business finance
YES
25/4/14
Learnt the
advantages and
disadvantages of
debt finance and
equity finance, and
what facgtors to
consider when
deciding which is
best for a business
YES

PLAN
NOW?
Acquire working
knowledge of FRS102
Preparation for
future career as
auditor or business
analyst
YES Read Steve Collings'
blog on FRS 102 on AAT
website (CPD zone)
Update own
PowerPoint slides on UK
GAAP
YES
19/5/14
Learnt that FRS102 is
a single all-
embracing
accounting standard
for businesses in the
UK and the Republic
of Ireland that opt
out of International
Financial Reporting
Standards
YES
Revise cash budgeting
techniques
Preparation for
future career as
auditor or business
analyst
YES Watch First Intuition
video on cash budgets
YES
25/5/14
Learnt the best
orderin which to deal
with cash receipts
(start with cash sales,
the move on to
receipts from
previous month's
ceredit sales, then
current month's credit
sales), and not to
forget other sources
of income (e.g. asset
sales)
YES Need to set up a
suitable spreadsheet
model for this

PLAN
NOW?
Update knowledge of
targetcosting and life-
cycle costing
Preparation for
future career as
auditor or business
analyst
YES Read article by Ken
Garrett on Target
Costing and Life Cycle
Costing (STUDENT
ACCOUNTANT,
December 2013)
target costing and life-
cycle costing
YES
15/6/14
Learnt difference
between use value
and esteem value,
and the importance
of value engineering
at the design state of
the product life cycle
YES
Practice accounting
for lease or buy
decisions
Preparation for
future career as
auditor or business
analyst
YES Watch YouTube video
by Chrish Walsh on the
"ASOP" lease or buy
decision
Compile a spreadsheet
to calculate the
answers that are
arrived at in the video
YES
30/6/14
Understand how to
set out a "lease or
buy" problem in a
spreadsheet and
know the pitfalls, e.g.
timings of tax savings
YES This is EXTREMELY
DIFFICULT
Refresh knowledge of
Going Conern issues in
audits
Preparation for
future career as
auditor or business
analyst
YES Read "audit blogspot"
Update own sides on
ISA 570 (Going
Concern)
YES
20/7/14
Now understand the
different going
concern scenarios
and the auditor's
response to them
YES

PLAN
NOW?
Update knowledge of
working capital
management
Preparation for
future career as
auditor or business
analyst
YES Watch Chris Walsh
(Kaplan)'s YouTube
video : "Paper F9 Exam
technique : working
capital management"
Update own notes on
obtaining business
finance
YES
2/8/14
Now understand
diference between
conservative and
aggressive working
capital management
policy and the
advantages and
disadvantages of
short-term financing v
long-term financing
YES

DAVID LAWES AAT CPD PLANNER 1-9-13 TO 31-8-14

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