台湾之旅（2013年10月12日至2013年10月19日八天七夜）

大家好，我的第一次台湾之旅， 我就在这儿分享我们的旅程。

我们的台湾行路线：
机场〉〉台中〉〉日月潭〉〉〉清境〉〉花莲〉〉宜兰〉〉台北

行程如下：
2013 年10月12日：AM11.55 抵达桃园机场〉〉纸箱王创意园区（大坑）〉〉东东芋圆〉〉check in 宿逢甲〉〉逢甲夜市

2013 年10 月13 日：逢甲出发〉〉官原眼科 （11点才开门 ，所以略过）〉〉心之芳庭〉〉集集车站）〉天空之桥〉〉宝岛时代村〉〉纸教堂（略过） 〉〉宿日月潭

2013 年10月14日：日月潭出发〉〉日月潭出發>>日月潭遊湖 (水社碼頭、伊達邵碼碼頭、玄光寺、文武廟)>>月下老人祠>>廣興紙寮>>埔里酒廠>>宿清境

2013 年10 月15日：清境出發>>(青青草原)>小瑞士花園>>合歡山武嶺>>碧綠神木>>天祥>>慈母橋>>燕子口>>長春祠>>七星潭風景區>>自強夜市>>宿花蓮

2013 年10 月16日：花蓮出發>>清水斷崖>>蘇花公路沿海風景>>南方澳觀景台>>南方澳海鮮>>宜蘭傳藝中心>>梅花湖環湖單車行>>羅東夜市>>宿宜蘭

2013 年10 月17日：宜蘭出發>>野柳地質公園 (女王頭)>>金瓜石風景區 (陰陽海、13層遺址、黃金瀑布)>>黃金博物館>>九份老街>>平溪十分放天燈>>基隆廟口夜市>>台北101拍照>>宿西門町

2013 年10 月18日：西門町出發>>華山阜杭豆漿>>五分埔商圈>>饒河夜市>>宿西門町 （自游行）

2013 年10 月19日：西門町出發>>北投泡溫泉>淡水老街(紅毛城、滬尾炮台)>>淡水漁人碼頭（自游行）>>機場

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有兴趣的朋友，请到宝岛FUN疯行-台湾包车旅游 http://www.funcrazy.com.tw/

ACCA Paper F6(SGP) Taxation

Today(04-07-11) is my 1st class of Taxation. My lecturer is Mr Tommy Yee. I am sitting in front, normally i felt a bit tired in class due after working still having a class. I just remind myself if I need higher pay, please to complete my ACCA level 2. For 1st class, I will share about Singapore Tax system & Basic Concepts- Income Tax is adminstered by the Inland Revenue Authourity of Singapore (IRAS), a statutory board.

Explain the fundamental differences between direct and indirect taxation.

Direct taxation is a tax paid directly by the person who bears the tax to the authority.

An example is Singapore income tax where tax is charged on the income of any person. It is based on the principle that the burden of taxation is in accordance with person's ability to pay. Therefore the higher the income level of a person, the higher would be his tax burden.

Indirect taxation is a tax borne by one party but collected via another party.

An example is goods & services tax where tax is charged on the consumption of goods and services. It is based on the principle that he burden of taxation is in accordance with the consumption

A person in the high-income bracket pays the same amount of indirect tax as a person in low-income bracket if both persons consume the same amount of goods or services.

"Compensation recieved by a trader for cancellation of a trading contract is always a taxable income receipt"

Discuss the validity of the above statement

Compensation received by a trader for cancellation of a trading contract is not always a taxable income receipt. It depends on the importance of the contract to the business.

If the contract is of such importance as to constitute the profit making apparatus, the compensation received is for the loss of the profit-making apparatus and is therefore a capital receipt which is not taxable.

However, if the contract is an ordinary trading contract, the compensation received by which is in lieu of trading receipts and is therefore a revenue receipt and thus taxable.

When deciding whether the compensation received is for the loss of the profit-making apparatus or in lieu of trading receipts, the following factors should be considered:

The proportion of the contract value to the total business turnover

The impact on the viability of business and scale of operations as a result of the cancellation.

I stop here...to be continue...

Internal Controls

1.What is the purpose of internal control?

Internal Controls address risks that threaten the achivement of business objectives (Operational, financial reporting, compliance with laws etc). In the case of financial reporting: Prevent fraud and error so as to achive the objective of producing reliable financial statements.

2. Why are auditors interested in internal control?

Auditors interested to know whether or how the errors can be detected and corrected / fraud can be prevented. An understanding of internal control helps the auditor to identify the risk of material misstatements and plan the extent of substative procedures. Examples control systems is not effective or test of controls show that controls not reliable, substantive checks and vouching.

The graph for Internal Control System

Key compenents of internal control

-(1)Control Environment

-(2)Risk Assessment

-(3)Information System

-(4)Control Activities

-(5)Monitoring Controls

(1) Control Environment (Software & Hardware)

-Culture control

-Management emphasis and commitment on internal controls : enforcement vs overriding

-Orgnisational structure, authorithy and responsibility

-Documentation of policies and procedures

(2) Risk Assessment process

-Managment identifies possibles areas of weaknesses within the financial reporting system and put in measures to prevent errors or fraud occuring (eg. segregation of duties, authorisation of transactions)

(3) The information System

-Record, Process and Report Transactions

-Gather other information for preparing Financial Statements (eg.for Depreciation)

(4) Controls Activities

-Measures put in the place to detect and correct errors (eg.segregation of duties, authorisation of transactions)

(5)Monitoring Activities

-Checking the output of process to see if operating as expected?

-Achieving Objectives ?

F4 Corporate and Business Law

Today is my 1st class for paper F4 Corporate and Business Law by lecturer: Terence Tan. Law is a set of rules to control conduct and control the rights & duties. Jurisdiction is geographical area of court's power and power of count to decide case. Common law -William the conquerer conqured whole Englands to all regions. Common law-too rigid and inflexible eg wrong forms to start court action-loss of lawsuit and rights. People went to see king or ministers and they decided based on they felt was fair- became system of rules called equity (based on justice and fairness). Precendent: previous case. Courts normal follow previous case. Stare decisis- let decision stand. Advantages for stare decisis:(1) consistency (2) fairness (3) predictable. Disadvantages for stare decisis; difficult to decide if similar to previous cases. "Dog law"- inpast, difficult to know what rules where. Ratio decidenci -reason rational for deciding -legal principle to decide case. Type od stare decisis (A) vertical-higher courts bind lower courts. (B) Horizontical-courts following case by same level courts. Type of law- different classification crimical law -main aim is punishment (fine, jail, and dealth penalty). Civil law -main is aim is compensation (covering you losess). Case law: common law-law develops through cases. Statue law- law made by parliment Often statue law is more efficient & clear than the case law.

I would like to stop here that finish my sharing. I hope my this 2 papers can pass on Jun 2011.

F8 Audit and assurance

The 1st day class for 2011, i attend F8 class -lecturer-Philip Tan. i would like to share what as i learn at the class. For this papers mostly need to understand the underlying theory of auditing and can apply thet theory relatively basic audit situations. The purpose of an audit is to enhance the degree of confidence of intended users in financial statements. Limitations-Auditors do not cetify the financial statements or guarantee that they are correct. Managemts is responsible for the preparation and fair presentation of these financial statements. Auditors responsibility is to express an opinion on these financial statements based on audit. Auditors need to plan and perform the audit obtain reasonable assurance whether the financial statements are free from material misstatement or error. The materiality -would influence the economic decisions made by a user of the financial statements.

Advantages and disadvantages of an audit
-advantages: A limited liablity company the shareholders access to companies' accounting books and records as a result dependant on information provided to them by the directors.
-advantages: An audit may act as a deterrent againts fraud by employees.
-advantages: Provide constructive advice to management on improving control and information systems.
-advantages: Audited financial statements can also be used to reduce disputes between management.
-disadvantages: Cost
-disadvantages: An audit disrupts the organisation's day to day activities as staff have to spend time providing the auditors with the information and explanations need to form an opinion on financial statements.

That's all for today sharing.

Dessert-Sea Bird's Nest

Hello everybody, today I want to share this dessert - the sea bird's nest.



First steps-prepare five bottles - water (3000ml) of water into the pan, to boil 100c.



Second Steps-I will be put to the packaging materials into pan and let it dissolve.




Such as you are likes pandan flavor, then put pandan leaves.



Third Steps-All the material has dissolved, turn off the heat.



Wait for a few minutes lets it to blow cold, then stacked to boxes and put in the refrigerator.



When eating, then put soy milk, then OK. Simple & Easy. Try It.

我的新开始

Today i already move to my brother's new house at Woodlands. I hope i have good to start...I thank a lot my brother always take care about me when i come to singapore at July 2007. I use around 1 mth find a job. Then I find a job related accounts, my post is accounts assistant cum admin at Megatech Scientific Pte Ltd. The opportunity let me learn more about accounts software- TAC accounts & Navision. In year May 2008, thanks for my brother intro me to ISS facility services to do accounts job and I take this opportunity. Now i am inchange doing catering accounts. I will continuning efforts to grow my career, i will keep learning to do well in my jobs. Of course I hope my pay will increase base on my performance. I will apply Singapore PR within this year again due to last years rejected.

I still the remember my 1st job at singapore is holiday's work when I waiting for my STPM results. My friend Yee Siang and kai Yin still remember where we work as palm attendant at Shell's station. I morning shift, Yee Siang afternoon shift and Kai Yin nite shift. I still remember the time at year 2002-2003. When CNY we quit the jobs, the time we always take OT to earn more money....haha;)

Ok. I stop here. I hope everyone in year 2010 the best all.....Happy ......