DFS

2

Comments

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Took me about 2 hours I think longer then my PEV
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    took me about 3, i should have done section 2 first cause i forgot the formulas too.

    the problem is the report writing tahts the hard and time consuming bit
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    did your balance sheet balane?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    joyride wrote:
    did your balance sheet balane?


    Mine balanced, did yours?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Mine did not balance, which I NOW REALISE is because I made the stupidest mistake of mixing my trade payables and recievables, duh!! I think I did ok on the rest of it my cash flow statement no problem was perfect. I'm just holding onto the fact that the balance sheet might not hold many marks!! Yeah right.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    took me about 2 and 3/4 hours - lots of writing and i forgot the gearing ratio so I wrote aboute what it meant!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i had no idea what the ratios meant so i left it blank.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    my bal sheet, cash flow statement balanced, income statement i did incorrectly i i took away both figures from sales and cost of sales instead of the larger what a prat and then forgot to appropriate the profit so that was messed up, section 1 was ok for me appearantly section 1 is 70% and section 2 is 30% but u gotta pass both.

    i didnt remember all the ratios after 2 hours of fiddeling with section 1 i just about mustered 2 of them and the other 2 i educated guess. But i did use those figures inocrrect figures in my report so hopefully i will just lose accuracy marks and get an ECF error carried forward
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Sorry Blank but I don't think you are right to mention competency levels. "Apparently" does not mean "definitely" and I recently posted a thread linking an article written by an examiner who stated that the competency level is not set until some time after all the exams have been sat and even then nobody knows what the competency level was.

    Readers should therefore ignore references to actual competency levels.

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Mine balanced but i didnt understand the written question about inventory and revenue???
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Haha at this thread..

    The exam definitely wasn't a race, however i am very very confident that i did everything what was asked of me, and answered every question in full. For all the writing style questions i used up ALL the paper provided, apart from the last one.. (not the report!) It is possible to do that exam very quickly, i knew what was required, and how to answer every question without having to faff around remembering things.

    I'm sure everyone who thinks they didn't do very well, will do better than surprised because it sounds like everyone has picked up lots of marks but perhaps haven't got to the final answer.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Didn't find it too hard but I totally messed up with how long I took on some of the questions and ran out of time. I'm never bothering to write the answers in pencil first thats for sure...

    In the end I didn't answer the consolidated income statement, the last part of 2.1 and the last part of 2.2.

    am i screwed?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    http://forums.aat.org.uk/forums/posts/list/15815.page
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    :-o I was expecting such horrors but was plesently surprised by todays DFS. Went on a study week to centre parcs with collegues last week. Went though all IAS and thankfully was asked the ones I could remember. Time was very tight though compared to TAX's. they expect you to fit alot in the 3 hours.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I took the whole 3 hours to do the exam. There was an incredible amount of writing to do, my hand nearly fell off. There were people in my exam room who did finish in 1hr and 1/2. I was still on Task 1.2!

    Found the exam ok, made a few silly mistakes, but it's prob still worth 8/10! :D
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    DFS
    Mr.C wrote:
    Piece of cake :D

    Straight forward, as planned.. Walked in hardly doing any revision and was done in an hour and a half! Can't complain!



    Why post this
    I'm similar to you always finish the exam quickly even after checking all my answers and never have to do loads of revison but I don't rub it in other peoples faces

    The exam is not a race and you should only leave once you are happy that you have done your best. IF that means your first or last it doesn't matter.

    As for how much work you put in if you a natural and can get away with it don't brag instead why don't you use you knowledge to help others who have to do a lot of work.

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I thought the exam was easier than the previous 2 exams on this.

    What did you all do with the Shares in part 1.1 i did not include them but most people in our class did.

    I forgot all the ratios at the end I could only remember 2 of them so i just quessed and wrote about them, hoping i will be ok with this.

    It was an overall good exam, i feel better than when i did the PEV on Monday.

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i put them in. my journal was

    Share capital - cr - 3000
    Share premium - cr - 6000
    Bank A/c - dr - 9000

    how about everyone else
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    missyb wrote:
    i put them in. my journal was

    Share capital - cr - 3000
    Share premium - cr - 6000
    Bank A/c - dr - 9000

    how about everyone else


    I did the same as you
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    oh well something else i got wrong. How many mistakes do you think they will allow?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I thought I did quite badly in December 2006, my b/s didn't balance and I'm not sure what I did to my cash flow!
    But I was very pleasantly surprised to find I had passed in February this year. DFS has always been my worst subject and it took me 2 attempts (but found the new standards more straight-forward).
    Very good luck for all of your results, I'm sure you did better than you think! :wink:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I did that too! :D
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I did that aswell! Well, we've all got something right at least! Totally messed up the consolidated income statement. I was really annoyed the consolidated balance sheet didn't turn up - I'd mastered the cost of control, goodwill and everything!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I know how you feel laney I was gutted when we didn't have the consolidated balance sheet I had that mastered lol
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    maybe it will come up in the december resits ha ha :lol:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    what did people do for the consolidated income statement - and final answers?

    and what was with the loss on the consolidated income statement - i couldn't see one!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I made a mess of it! ha ha
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    HI I took the full 3 hrs to complete the exam, I did everything well but couldnt answer Task 1.2 fully as I forgot IAS18!those of you who study with FTC Kaplan will have recieved their Mock Exam which had a marking scheme attached to it, on that the report in Section 2 carried 40 marks and Task 2.2 carried 23. That was a suprise if the overall pass mark is around 80%, I guess you have to get 80% in both sections?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    missyb wrote:
    i put them in. my journal was

    Share capital - cr - 3000
    Share premium - cr - 6000
    Bank A/c - dr - 9000

    how about everyone else


    Thats the same journal I did!! I found the exam OK, I rembered what the IAS stood for but couldn't remeber their actual numbers!

    My B/S, consolidated I/S and cashflow all balanced. I am just unsure if I covered enough in the written answers!

    Took me 2.5 hours and I just know I should have written more.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i got that for the jounrals, income statement was a mess and i dont know how but managed to forget to spilt the income by 0.25 and 0.75 at the bottom and managed to take both goods sold and profit away from sales and cost of goods, it was so easy once i got out the exam to do it but in the exam i couldnt think of it at all.

    ratios i only got 2 out of 4 but did the best i could and used those figures and carried them foward so i hope i get some method marks there

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