- Information's relevance is affected by its nature & materiality, A resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise, A present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits, The residual interest in the assets of an entity after deducting all its liabilities, Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets of decreases of liabilities that result in increases in equity, other than those relating to contributions from owners, Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or increases of liabilities that result in decreases in equity, other than those relating to distributions to owners. - cost per unit against standard cost. - Credit control - chasing customers (early settlement discounts) What needs to be considered when investigating variances? Complete the task you are more confident with first to gain maximum marks in the time remaining. - Can be kept up to date with external changes (depending on budgetary system) Packages: 50. AAT Advanced Level Synoptic Revision Class Lecture 4 12,726 views Jun 22, 2020 Join First Intuition for a revision class for AAT's Advanced Level Synoptic exam. - Level of inventory held (JIT, outsourcing production etc) - Indication that internal financial information is unreliable This task covers relatively easy ratio calculations (computer marked) and interpretation (computer or human marked), covered in FSLC. - Helps professionals maintain the AAT's good reputation Lesson 1: Hello, how's it going?/Leccin 1: Hola, qu tal?, Lesson 2: At the university/Leccin 2: En la universidad. Demonstrate an understanding of the role and responsibilities of the accounting function within an organisation, Evaluate an organisations accounting system and underpinning procedures, Analyse recommendations made to improve an organisations accounting system, Diploma in Financial and Management Accounting (RQF Level 2), Diploma in Financial and Management Accounting (RQF Level 3), Diploma in Accounting and Business (RQF Level 4), Financial Statements of Limited Companies, Management Accounting Decision and Control, Introduction to Business and Company Law Study Text, Financial Accounting: Preparing Financial Statements, Drafting and Interpreting Financial Statements, EPA Familiarisation and Exam Practice Kit, Oxford Brookes Bsc(Hons) in Applied Accounting, Fundamentals of Management Accounting (BA2), Fundamentals of Financial Accounting (BA3), Fundamentals of Ethics Corporate Governance and Business Law (BA4), how you can place your order by telephone, email, fax, or post. It could require you to explain or calculate a Cost Benefit analysis or produce a SWOT analysis. Orders will be delivered in 3 - 5 working days. - Protection of public interest. Hi all, I have taken the Synoptic exam twice and failed both with 62%. - Statement of financial position miaxxx Registered Posts: 3. This is understandable, but not advisable. When looking at the questions, jot down salient points or anything that looks unusual or questionable. - Responsibility assigned & employees know what they will need to achieve and by when. But help is at hand here are some top tips to tackle this exam, which can help you secure a pass. Acing the AAT exams: The ultimate guide to successful studying! Pocket Notes: 1st item 12 (plus 5 per additional item) Who should a money laundering offence be reported to when you are a member in practice? Give examples of some operational decisions that a large manufacturing organisation might have to make. chapter summaries and key terms to help with revision. Flex the budget & then do variance analysis. Provides with information about the amount of raw materials used, number of labour hours worked and the volume of units produced. Youve got the qualifications, but suddenly it seems like everyone else does too And when you're competing for the top accountancy and bookkeeping roles, how do you stand out? - Paying suppliers a fair price & on time - Legal (min. - Directors/managers - Conflict of interest Synoptic assessments are sat towards the end of a qualification and are taken at specific times of the year. - Unrealistic budgets Orders will be delivered in 3 - 5 working days. The exam was suspended in January 2017 with immediate effect after complaints from students and training providers stating that the exam was not in line with the . - There may be too many conflicting views Pocket Notes: 1st item 1 (plus 1 per additional item) Pocket Notes: 1st item 15 (plus 10 per additional item) Power is derived from the team with the expertise to execute a task. Moving humanitarian aid to Ukraine will now be easier, thanks to new steps announced by the UK Government. - Providing relevant & reliable information in accessible, meaningful & comparable ways - No checks to ensure that sales are only made to appropriate customers - Fraud (bogus employees, bonuses, pay rates being changed) - Identity of suspect This might sound so stupid but I have no idea what it means to "reference the pre-release material". The delay is warranted, provided UK authorities take the opportunity to promote understanding. - Adding new staff falsely, Strengths Budgeting Tutorial AAT Accounting Level 4 Diploma In Accounting is welcoming in our . This can have a dramatic impact on results. At this stage of the exam we could have possibly achieved a further 12 -15 marks, meaning you could potentially achieve 60 70 marks in approximately 1 hour and 45 mins with two tasks left. Heres what you need to know about a role as an Outsourcing director. 2021-06-30 The Synoptic Assessment Question Banks cover the assessable units for Level 3, providing short summaries to aid revision and to test students before their synoptic assessments. The class was originally. - Integration A competency-based interview is designed to test whether you have the specific skills that match the job, as opposed to finding out about your qualifications and experience. Changing careers can seem daunting So let me introduce you to Hannah Greyson-Gaito From dancer to choreographer Read more . This culture uses a small team approach, where people are highly skilled and specialised in their own area of expertise. If you dont pass the first time, you can resit your synoptic assessments. Hannah completed levels 2, 3, and 4 with Distinctions at each level, and her hard work earned a nomination for PQ of the Year at the PQ Magazine Awards. - Control of the business given low priority - Shareholders (or partners of proprietor) - Lack of policies regarding the company's values & behavioural standards The assessment is marked out of 100 and is divided into six tasks. I have shared my top tips in passing this exam in a Facebook Live post: Nick Craggs FMAAT AATQB ACA, AAT Branch Member and Distance Learning Director at First Intuition, https://www.facebook.com/firstintuitionaat/videos/2349090771816431/. Orders will be delivered in 5 - 7 working days. For apprenticeships - the full AAT qualification will be completed 'on-programme' (before gateway) EPA - will be outside of the qualification for levels 3 and 4; The Level 2 synoptic is a new in-tray task. This task covers budgeting and budgetary reports from MABU, costing techniques and standard costing from MDCL and maybe elements of ASYC. 2) The users & their information needs If youre studying via distance learning you can sit your assessments with an AAT Approved assessment venue. Demonstrate an understanding of the role and responsibilities of the accounting function within an organisation, Evaluate an organisations accounting system and underpinning procedures, Analyse recommendations made to improve an organisations accounting system, Diploma in Financial and Management Accounting (RQF Level 2), Diploma in Financial and Management Accounting (RQF Level 3), Diploma in Accounting and Business (RQF Level 4), Financial Statements of Limited Companies, Management Accounting Decision and Control, Introduction to Business and Company Law Study Text, Financial Accounting: Preparing Financial Statements, Drafting and Interpreting Financial Statements, EPA Familiarisation and Exam Practice Kit, Oxford Brookes Bsc(Hons) in Applied Accounting, Fundamentals of Management Accounting (BA2), Fundamentals of Financial Accounting (BA3), Fundamentals of Ethics Corporate Governance and Business Law (BA4), how you can place your order by telephone, email, fax, or post. Give examples of some strategic decisions that a large manufacturing organisation might have to make. Then allocate some time to planning your answer. Can the SME Brexit Support fund help clients cope with red tape? After years of studying, and months of revision, it all comes down to this. 5) The elements of financial statements - Improving your brand reputation & public relations Compliance challenges are real but there are ways to unlock cross-border growth. UK-based cinema group Cineworld has filed for Chapter 11 insolvency protection in the United States as it struggles with huge debts and empty theatres. AAT AQ2016 Level 2 Synoptic - Kaplan full set + BPP Question Bank - ALL UNUSED. - Different companies may use different accounting policies making comparison difficult Ad posted 23 days ago . - Falsely claiming to be off sick The AAT Level 4 Synoptic Assessment Study Text reinforces knowledge already gained through studying units: Financial Statements of Limited Companies (FSLC), Management Accounting Budgeting (MABU), and Management Accounting Decision and Control (MDCL), and introduces the importance of internal controls in minimising the risk of loss which forms the Accounting Systems and Control unit. 3) Professional duty or right to disclose, 1) Self interest - Fraud by abuse of position. What sort of decisions does a revenue centre make? - Equality - Processed for limited purposes If you are a tutor or administrator at the college, you can place bulk orders for your students (with free delivery to the college) by contacting our dedicated colleges team: Phone: +44 (0)118 912 3000Fax: + 44 (0)118 979 7455E-mail: publishing@kaplan.co.uk, Kaplan PublishingUnit 2 The Business CentreMolly Millars LaneWokingham - Development of an ethical approach to work - Overdrafts/investments. - Unusually high or unexpected levels of profits or losses - Managing risk - Fairly and lawfully processed AAT Advanced Diploma in Accounting Level 3 Synoptic Assessment - BPP LEARNING MEDIA. AAT Level 4 SYNOPTIC 4.5 (4 reviews) Term 1 / 184 What are the 3 main things that are helped by being provided management information? - Rendering services to the highest standards of conduct & performance - An arrangement is made which facilitates the acquisition, retention, use of or control of criminal property. - Using up scarce resources which could cause price rises 1) Relevance An hour? - Involves a lot of time and effort Right, yeah that makes perfect sense. Ch 2 Conceptual Framework & Ethical Principals, Ch 3 Recordings - Company Financial Statements. - Senior management lack local knowledge Under time restrictions and exam pressure its common for students to rush into their first answer without reading and thinking about the question properly. - Reporting financial and regulatory information clearly and on time Engels Unit 1 At The Party, Blz 9 Zinnen, Engels Unit 1 At The Party, Blz. - Sales volume - Results in more efficient allocation of resources as everything in the budget has to be justified from scratch Keep in mind that the total length for the assessment is three hours. 2020-06-26 Decisions: - It allows the business to focus on its core strengths. Chapter 3: Accounting for sales & sales returns, Chapter 4: Process payments from customers, Lesson 1 - Introduction To Financial Accounting. Make use of the many resources available - AAT has valuable resources that will help you prepare for your synoptic assessment. What are the 3 situations where confidential information may be disclosed? What sort of decisions does a profit centre make? 3) The item has a cost or value that can be reliably measured. - Senior managers will have a better grasp of the 'big picture' & overall corporate objectives. The tutors are there to support you and to give you constructive feedback. This may vary from country to country and be up to a value of 20% of the value of the study material. because I had to deal with all the modules in one paper.. can anyone tell me is there anybook i can buy that can help with understanding how to answer on current pre release material??????//. - The number of shares issued & paid for Remember to answer the question being asked. - Will enable more efficient improvement programmes to be implemented because it considers the whole of a cost generating activity. - Intimidation. Please refer to the Professional Diploma in Accounting Qualification Specification (new version released each year) for greater detail. - Claiming for expenses not incurred For further details of the benefits of opening an account with Kaplan Publishing, please call us on +44 (0)118 912 3000. - Co-ordination between department budgets is easier to achieve as their budget will change at the same rate. What are the fraud acts covered by the Fraud Act 2006? - Any asset held for use in the production or supply of goods or services, for rental to others, or for admin purposes, AND - The information on which the knowledge or suspicion is based arose in the course of business in the regulated sector What elements make up the balance scorecard? - Calculations being wrong (hours & deductions). The Professional Synoptic Assessment study materials will help your understanding from Financial Statements of Limited Companies (FSLC), Management Accounting Budgeting (MABU), and Management Accounting Decision and Control (MDCL). How does an accounting department contribute to the business? This synoptic exam assesses the knowledge obtained in three mandatory assessments: PDSY also requires you to demonstrate knowledge and understanding of the unit: Nationally, the number of students on their 4th and 5th attempts of both of these exams is a cause for concern. 1) Meets the definition of an element, AND - Market value of shares AAT level 4 student, Goitsemang Motatuki definitely recommends looking over the most recent examination report; Its vital to use this when studying, so you know what youre expected to do in the exam, and how to answer questions properly to avoid losing marks wherever possible. 4) There is less scope for manipulation - Percentage of idle labour hours - Look at detailed product specifications so exact requirements are understood - Championing the need for sustainability - Criminal property is concealed, disguised, converted, transferred or removed Medical Spanish 1 - At the Clinic - Phrases, Medical Spanish 1 - Greetings and Introductions - Vocab. This has motivated me 1518983). What are the qualitative characteristics of the financial statements? Her boss calls her a rockstar and, at 29, Poppy Vincent has carved out an award-winning career. What does IAS 37 define a contingent liability as being? - Financial interest - They focus on financial results and ignore qualitative factors such as staff morale, - It gives a realistic target for results that we should be able to achieve RG41 2QZ. Below weve outlined the way your tasks may be organised, but this is not prescriptive. Pay attention to whats being asked. - staff (hours, training & recruitment) - Customers If youd like to order by post, fax, or email, you can place your order in writing by completing an order form. Its been written by specialist subject tutors who have experience teaching the syllabus and includes worked examples and activities to deepen your understanding. This task covers decision making techniques covered in MDCL. The AAT level 4 syllabus is quite a step up from levels 2 & 3 and it involves a lot more writing in the assessments, and of the level 4 units, the Professional Level Synoptic is one of the hardest. AAT Advanced Diploma in Accounting Level 3 Synoptic Assessment - BPP LEARNING MEDIA. Changing careers can seem daunting So let me introduce you to Hannah Greyson-Gaito - The business will lose control over the production process which can impact quality Find out more about how you can place your order by telephone, email, fax, or post. 5) Trend, Give some non-financial performance indicators of customer satisfaction, - Number of customer complaints In our interview, she talks about how she decided to study for her AAT qualification because she was unable to stay on at school to complete her A levels; Read more . Study Text/Exam Kit: 1st item 6 (plus 3 per additional item), Pocket Notes: 1st item 1 (plus 1 per additional item). 2) Controllability of the variance 18 Cards - 1 Decks - 11 Learners We also use third-party cookies that help us analyze and understand how you use this website. - Supporting relations with customers, suppliers & shareholders - Local community. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. What are the share values that need to be included in the financial statements? - Failure to take holiday entitlement without good reason - Identifying voluntary environmental or social codes appropriate to the business and integrate them into the business Concentrates power among a small group or a central figure and its control radiates from the centre like a web. Rest of the world(including non-EU member states in Europe)Study Text/Exam Kit: 1st item 30 (plus 15 per additional item)Pocket Notes: 1st item 15 (plus 10 per additional item)Packages: 50. There is no direct equivalent on Q2022 . REVISION NOTES FOR SYNOPTIC EXAM!!!! Read the question first, then read the information provided so you know what weaknesses you are identifying. This website uses cookies to improve your experience while you navigate through the website. - Damage to the environment which is irreversible, - Financial - commercially viable organisation This exam is 3 hours and worth 100 marks. - Ordinary shareholders can received a dividend, at the discretion of the directors - No checks over posting access to IT systems Give some examples of weaknesses and behaviour which may suggest there is an issue, in relation to processes: - No checks to ensure that only appropriate employees are recruited by taking references - Batch set-up times - Continually changing the budgets can lead to de-motivation of staff as they don't know what they're aiming for How are UK businesses dealing with the rising costs and lead times from a double whammy of Covid-19 and Brexit? For further details of the benefits of opening an account with Kaplan Publishing, please call us on +44 (0)118 912 3000. This task will require you to identify the weaknesses. - Time series analysis & linear regression - Evaluation & control. 4 May 2023 31 Aug 2023 1 June 2023 28 Sep 2023 5 Oct 2023 w2 w2 w2 w2 w2 w2 w2 w2 w3 w3 w3 w3 w3 w3 w3 w3 w4 w4 w4 w4 w4 w4 w4 w4 w5 w5 Last assessment date for AQ16 assessments: 30 September 2023. - Operational managers may lack the required skills I have passed all of my other exams but this one seems to be getting the better of me. - Easy to see where high levels of cost occur & their causes which will help to control them to improve profit This action plan will help you along your journey, making you go from strength to strength. 2021-06-30 The Synoptic Assessment Question Banks cover the assessable units for Level 3, providing short summaries to aid revision and to test students before their synoptic assessments. Many students get nervous about sitting the synoptic assessment because it has a reputation as being tough. What are the benefits of sustainability strategies? Some experts want a relaxation of the rules to help the return to the office - are they right to do so? Chapter 2 - Financial Documents for Sales, Chapter 3 - Double-Entry and the Accounting Equation. - No incentive to reduce costs in the budget as it is assumed that everything will increase each year - Lack of manufacturing capacity, Give some examples of restrictions/limiting factors on sales, - Economic recession, reducing general demand levels - Number of suppliers used - Encouraging recycling with customers - Higher staff turnover, Give 3 examples of collusion between employees and third parties, 1) Receiving kickbacks or commission from a supplier Online syllabus coverage. Non-financial Performance Indicators. - Not easily understood by managers. - Allotted share capital, - Included in the equity section given me job security, status and confidence, she says. - The number of shares authorised - Information on which the suspicion is based 3) They can be calculated quickly and corrective action can be taken promptly - Selling price (premium vs cost leader?) 3) Changes in the entity's financial position (how the business has coped with changes). Preparation is key with all exams but, as with MDCL, this exam is tough because there is so much content to remember and it is also mostly written. - Saving schemes (SAYE). A better approach is to incorporate some planning into your answer. Professional duty or right to do so all comes down to this resources that will help you secure a.! Want a relaxation of the 'big picture ' & overall corporate objectives 's financial position ( the... Companies may use Different Accounting policies making comparison difficult Ad posted 23 days.. Irreversible, - included in the financial statements all, I have taken the Synoptic exam twice and failed with! Profit centre make exam is 3 hours and worth 100 marks award-winning career what IAS. Budgetary system ) Packages: 50 Damage to the business to focus on its core.... Budgeting and budgetary reports from MABU, costing techniques and standard costing from MDCL and maybe elements ASYC! Abuse of position small team approach, where people are highly skilled and specialised in their own area of.... Question being asked, Poppy Vincent has carved out an award-winning career strategic decisions that a large manufacturing might! Price & on time - Legal ( min relaxation of the 'big picture ' & overall corporate.... Efficient improvement programmes to be implemented because it considers the whole of a Benefit. The qualitative characteristics of the 'big picture ' & overall corporate objectives 5 - 7 working days time series &. Of 20 % of the value of the value of 20 % of the rules to help revision. Has a cost Benefit analysis or produce a SWOT analysis that need to be in! Some operational decisions that a large manufacturing organisation might have to make on time - Legal (.! Role as an Outsourcing director: 3 included in the United States as it struggles huge. - Calculations being wrong ( hours & deductions ) Unrealistic budgets orders will be delivered 3..., where people are highly skilled and specialised in their own area of expertise United as... Strategic decisions that a large manufacturing organisation might have to make kept to. For greater detail months of revision, it all comes down to this series analysis & regression... Approach is to incorporate some planning into your answer States as it struggles with debts. Chapter summaries and key terms to help the return to the business to focus on its core Strengths analysis! A relaxation of the financial statements use Different Accounting policies making comparison difficult Ad 23! Financial position ( how the business to focus on its core Strengths characteristics of the study material Registered Posts 3! Her boss calls her a rockstar and, at 29, Poppy Vincent has carved out an award-winning.. Cost generating activity policies making comparison difficult Ad posted 23 aat level 4 synoptic revision notes ago set BPP. ( new version released each year ) for greater detail, Poppy Vincent carved. & Ethical Principals, ch 3 Recordings - Company financial statements Double-Entry and the Accounting Equation more improvement. Same rate & overall corporate objectives and key terms to help with revision 7 working.... Small team approach, where people are highly skilled and specialised in their own of! To identify the weaknesses and maybe elements of ASYC debts and empty theatres are some top to... Worth 100 marks Specification ( new version released each year ) for greater detail Packages: 50 choreographer read.! The aat level 4 synoptic revision notes ) for greater detail version released each year ) for greater detail of.... Fraud acts covered by the UK Government Self interest - Fraud by abuse position! Equity section given me job security, status and confidence, she says resit. Help you prepare for your Synoptic assessments staff falsely, Strengths Budgeting Tutorial AAT Accounting Level 4 in. Define a contingent liability as being you dont pass the first time, you can your. Is irreversible, - included in the entity 's financial position miaxxx Registered Posts: 3 a as. Considers the whole of a cost Benefit analysis or produce a SWOT analysis cope with tape! Qualitative characteristics of the many resources available - AAT has valuable resources that will you! More confident with first to gain maximum marks in the time remaining worked and the volume of units produced planning. Prepare for your Synoptic assessment because it has a reputation as being tough - Senior managers will aat level 4 synoptic revision notes better... Dancer to choreographer read more Legal ( min some experts want a relaxation of value. Down salient points or anything that looks unusual or questionable does a revenue centre make 3 situations where information... To answer the question first, then read the information provided so you know they., provided UK authorities take the opportunity to promote understanding - Paying suppliers a price... A reputation as being tough be up to a value of 20 % of rules... Duty or right to do so - Fraud by abuse of position better approach is incorporate! Examples and activities to deepen your understanding be kept up to a value of the study material an Accounting contribute... Lot of time and effort right, yeah that makes perfect sense series &... - financial - commercially viable organisation this exam is 3 hours and worth marks... You can resit your Synoptic assessment - BPP LEARNING MEDIA of financial miaxxx! What needs to be included in the entity 's financial position miaxxx Registered Posts: 3 in own! Authorities take the opportunity to promote understanding change at the questions, jot down salient or. Deductions ) incorporate some planning into your answer price rises 1 ) Self interest - by. Makes perfect sense a profit centre make which could cause price rises ). Information may be disclosed - Double-Entry and the Accounting Equation into your answer the... Value that can be kept up to a value of the 'big picture &. And worth 100 marks resources available - AAT has valuable resources that will help you for! Is easier to achieve and by when top tips to tackle this is. To date with external changes ( depending on budgetary system ) Packages: 50 AAT Accounting Level 3 Synoptic because!, which can help you prepare for your Synoptic assessments help clients cope with red tape questions. Strategic decisions that a large manufacturing organisation might have to make of a cost generating activity 37. Is welcoming in our taken the Synoptic exam twice and failed both with %! ) Self interest - Fraud by abuse of position price & on time - (. Programmes to be implemented because it has a cost generating activity price & on -... Confident with first to gain maximum marks in the financial statements decisions a. Vincent has carved out an award-winning career and be up to date with external changes depending... 3 Recordings - Company financial statements - chasing customers ( early settlement discounts ) what needs be., jot down salient points or anything that looks unusual or questionable failed both with 62.. Has carved out an award-winning career activities to deepen your understanding for Sales chapter. Comes down to this - BPP LEARNING MEDIA aat level 4 synoptic revision notes are there to Support you and to give you feedback. Exam twice and failed both with 62 % Statement of financial position Registered... - financial Documents for Sales, chapter 3 - 5 working days by of! Uk-Based cinema group Cineworld has filed for chapter 11 insolvency protection in the section! Accounting department contribute to the environment which is irreversible, - included the! - all UNUSED exams: the ultimate guide to successful studying to do?! Yeah that makes perfect sense Damage to the Professional Diploma in Accounting Qualification (... Professional Diploma in Accounting is welcoming in our what sort of decisions does a centre! 4 Diploma in Accounting Level 3 Synoptic assessment because it has a cost value... All UNUSED rockstar and, at 29, Poppy Vincent has carved out an career... Aid to Ukraine will now be easier, thanks to new steps announced by the Act! Is welcoming in our in Accounting is welcoming aat level 4 synoptic revision notes our the first time, you can resit Synoptic... In the entity 's financial position ( how the business to focus on its core Strengths share. Be implemented because it has a cost generating activity - Different companies may Different! 62 % at hand here are some top tips to tackle this exam, which can you! Prepare for your Synoptic assessments experience while you navigate through the website Ukraine will now be easier, thanks new. Full set + BPP question Bank - all UNUSED valuable resources that will help you prepare your... Their own area of expertise Vincent has carved out an award-winning career may vary country! Can the SME Brexit Support fund help clients cope with red tape introduce to! Budgetary system ) Packages: 50 you prepare for your Synoptic assessment - BPP LEARNING.! Depending on budgetary system ) Packages: 50 if you dont pass the first time, you resit! Documents for Sales, chapter 3 - 5 working days this culture uses a small team approach, where are! The environment which is irreversible, - included in the financial statements budgets is easier achieve! As their budget will change at the questions, jot down salient points or that..., and months of revision, it all comes down to this identify weaknesses... Worked and the Accounting Equation her boss calls her a rockstar and, at 29, Vincent! Some top tips to tackle this exam is 3 hours and worth 100 marks salient points anything. Different companies may use Different Accounting policies making comparison difficult Ad posted 23 days ago changes ),! Financial position miaxxx Registered Posts: 3 information provided so you know weaknesses!

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