Stressful Week

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It was a stressful week for me & my colleagues as a few unexpected things happened at work.

Firstly we were left stumped by this question from my new audit partner:-

  1. Does preference shares issued by a company is considered as part of the issued paid up capital of the company?

The answer is “yes” if the preference shares has voting rights tied to the shares.

Thanks to Hilary for saving me with the answer when I called him.

Secondly, it was the unexpected taxpayer audit for some of my clients, that left us very surprised as it came at a wrong time. Till now, my boss is still thinking how to deal with it.

My week was made worse by a non-audit tax provision made difficult by the company trading in shares. In case some of you may not know, trading in shares are taxable by virtue of FRS 39, if the company has adopted FRS 39 treatment. I had a hard time doing up the spreadsheet. Today is the 3rd day that I am working on the case, and its not completed yet.

The only happy events that I am able to share this week were :-

  1. Cindy and I managed to surprise her hubby with a birthday gift that she bought and I delivered by courier by Singapore Post. 
  2. I managed to find the birthday gift for Qiqi. I shall not reveal what it is, in case she reads my blog. I don’t think I can thank my friends enough for helping me to hunt the gift. But I guess our friendship deserves me to go such great lengths to get the gift for her.

Next up, my mum’s birthday, what can I give her? I guess she wants me to pass my ACCA P1 paper. The result will be out on mid Aug. Wish me luck then. :-)

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