fao peuoget

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I failed dfs in june for 3rd time! i need to clear it next time-can you help me see where i am going wrong?
God bless
dipak

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:fao peuoget

    The DFS syllabus is a large syllabus and I think it is a case of getting the right balance of knowledge and applying that knowledge in the exam.

    You know that on the DFS paper you are going to be asked about the following:-

    (a) Consolidated balance sheet or income statement (with possibly an associate/joint venture).
    (b) (Possibly) a cash flow statement
    (c) Write a report and/or a letter/memo
    (d) Comment on a company's financial performance using ratio analysis

    Those are the key areas which this paper assesses.

    Have a look under the student resources centre on this site and download a copy of the standards. This gives a review of which IAS's are examinable and then concentrate on those. Produce a summary on either paper or flash cards of each IAS and then keep referring to these when you are revising.

    A good tuition provider is also essential. However, if you are home studying I would suggest concentrating on the key areas of the syllabus and getting a broad, but basic, knowledge of the whole DFS syllabus.

    The key areas open to failure on DFS are:

    - not applying accounting standards to a given scenario
    - not answering the question asked, but answering the question you wanted to be asked
    - revising mainly consolidated balance sheets and ignoring the income statement (question spotting)
    - having the ability to calculate numbers, but not being able to comment on them
    - poor time management
    - revising only the main ratio analysis

    The final point above is prevalent this time round. A lot of people mentioned to me they thought it unfair that the gearing ratio appeared. It is examinable and no doubt this time round the AAT will have a nasty surprise(s) in store. As long as you get a basic and broad knowledge of the whole syllabus you will be fine.

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:fao peuoget

    thankyou so much for your input.i will take your advices on board.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:fao peuoget

    I'm doing a further qualification offered by ACCA on International Financial Standard Reporting and I've come across this website which I think you will find helpful

    http://www.iasb.org/Summaries+of+International+Financial+Reporting+Standards/Technical+Summaries+of+International+Financial+Reporting+Standards.htm

    Good luck.

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