DFS new format???

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:25AM in AAT student discussion
I wonder is someone can help me out?? I have heard that DFS is going to be in a new format. Is this true? When will this come into force?? Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS new format???

    Hello teganmya

    I'm no expert on this myself, but I understand there's some more information here:

    http://www.aat.co.uk/centres/display/store4/item4139/

    Julian
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS new format???

    I did the DFS exam in Dec and we was told that it would be a lot more difficult in June 06 as the format will be changed, by our college lecturer.

    Fingers crossed i dont have to resit!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS new format???

    Hi
    The format has changed in line with the new IAS and IFRS that has come into play this year. I am currently having to learn the new changes as my DFS is in June so I am one of the Guinea pigs! Its not too difficult they just have renamed things and certain accounts have been amalgamated into one heading etc
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS new format???

    Hi,

    Basically, yes there are going to be some changes that could be examinable.

    I can't go in too much detail because of the size of the potential thread, but in summary you will have the following primary statements:

    Balance Sheet
    Income Statement (currently known as the P&L)
    Cash Flow Statement
    Statement of changes in equity
    Financial Statements notes

    These are the main changes which are subject to IAS 1 (Presentation of Financial Statements).

    These requirements are from 1 June 2006 (for listed PLCs only) but pro-formas should be given to you in the exam.

    Regards
    Steve

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