Last Minute DFS Revision

peugeotpeugeot Experienced MentorPosts: 624Registered
I have posted this on the other forum, rather than in the technician thread as well (technician is where it should have been in the first place - my error!!)

Thanks to the administrators, I have now been able to upload an article which I wrote for another forum which outlines the basics of IAS 8 (Accounting policies etc) which is examinable under DFS.

The standard itself could be asked by way of discussion or numerical tasks and therefore I have attached it so you can view the article and read it before your exam.

Good luck and best wishes.

Steve

Comments

  • columbiacolumbia Experienced Mentor Posts: 580Registered
    Thanks Steve

    Although not taking exam until June the information as usual is excellent :001_smile:

    Tracy
  • peugeotpeugeot Experienced Mentor Posts: 624Registered
    Thank you for your feedback Tracy. I'm glad you found it helpful.

    Best wishes
    Steve
  • bopit71bopit71 New Member Posts: 5Registered
    Many thanks for this - taking DFS tomorrow and tried to learn as much as i can about the standards, it's just so hard to pick out from all the information what is important.
    I will have a read of this properly tonight :001_smile:

    Sarah
  • pikeydivapikeydiva Settling In Nicely Posts: 16Registered
    DFS Help

    I must just give my thanks to Steve for all his help and input into this forum!! You have been an asset to my distance learning studies and all your posts have helped me understand numerous areas within DFS.

    THANK YOU

    I do hope you continue to support this site with your invaluable knowledge!

    Deena:thumbup:
  • peugeotpeugeot Experienced Mentor Posts: 624Registered
    Thank you for your kind words.

    I am glad the article has proved to be of use to you. This particular standard which I have discussed in the article is one of those that can be tested in a two way direction e.g. numerically AND discursively - as a result it could well appear more than once in a DFS paper. However, I will reiterate that in a numerical question, at DFS level, the likelihood of accounting estimates coming are possible, but a change in accounting policy is more likely because that is more technical.

    Good luck tomorrow. I hope the paper is friendly to you!!

    Steve
  • pikeydivapikeydiva Settling In Nicely Posts: 16Registered
    my words are nothing....YOU have spent a lot of time giving support to all of us on the forum.
    Again your input has been very helpful with my studies and a thank you is just a small sentiment to show my gratitude.

    Lets hope the revision has paid off...who knows what the examiners are going to 'suprise' us with! still lets hope the knowledge learned pays off.

    Many thanks

    D:001_smile:
  • peugeotpeugeot Experienced Mentor Posts: 624Registered
    I'm sure you will be fine. Don't forget my immortal words:

    Don't panic;
    Stay focused;
    Write neatly;
    If asked to do a report, do a report, if asked to do a memo, do a memo - you may credit for showing you can demonstrate compliance with instruction.
    Stick to your time allocation; and more importantly than anything

    SHOW YOUR WORKINGS

    Showing your workings is the most important part of the DFS exam as it is largely computational.

    If the marker doesn't know how you've arrived at your answer you won't gain credit. Even if your answer is totally wrong, you will get marks for your approach. This can mean the difference between passing and failing.

    Best of luck.
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