Dfs dec 08, advice needed

pennie moore

Im hoping someone can advise me, i did not round the consolidated account to 67% instead i did it all at 66%, It all balanced but would not rounding it up fail me that section ??
I cant belive i did it ! was panicking as not 60 or 75 etc and kept thinking my calculator had gone wrong lol !
Can anybody please advise ? Thankyou

fpettifer

you'll be fine, i rounded up, but either way as long as you completed the consolidation then its fine, you get the marks for using the correct methods. Plus seeing as it was 66.666% then I'm sure they'll be expecting people to use 66%; 2/3 or 67%

pennie moore

thankyou feel bit better now, just put me off being 66667 or whatever it was, really though my calculator had gone wrong lol x

mahdi87

lol i put 8000/12000= 66.6666???? on paper and i done my way looool i round it up to 70% but i made it up as they aquire 8400 shares so i get 70% can u imagin how stupid i am loool but i am not really worried cos showed the examiner that know how to do it even tho me bien silly
:001_tongue:

pennie moore

bless ya, you dont look stuid, was just silly that way, they should made it to 70, 80 but 66.6666 threw a lot of people i hope lol, never mind guess we have to wait till feb now, good luck x

Rao

DFS exam Dec 08

Hi all

Just to say the paper went ok on the whole. The only slip-up I made was in the balance sheet in Section 1. I think I made a mess up of the journal entries for the sales returns. I did:-
DR Sales returns CR Receivables
DR Inventories(B/S) CR Inventories(B/S)

Is that correct. I got a profit figure for hte year of £1602 and the balance sheet was out by about £2900. I checked my workings over and over at the end but could not account for the difference. Did anyone else have the same problem?

Otherwise I think I did ok. I presume the report re the cash flow question meant only to comment on net cash from operating activities. But I also mentioned the purchase of fixed assets and that the NCF from operations plus the extra finance raised from loans and shares was not enough to cover this outlay, hence the reduction in NCF of £2m for the year.

In Section 2 I was not sure whether the slight decrease in payables turnover was good or bad. I said this had improved.

Please reply with your comments.

Ashok Rao

welshwizard

I haven't seen the paper but I am sure they will atke your figure and work it forward from where you first amde any error. You'll be fine and, anyway, it's too late to alter it now so don't lose sleep over it - move on to whatever you're doing next and enoy the surprise when you get your exam results in February!

mfernott

As all the figures that you needed to adjust for were divisible by 3 I just did everything at 1/3 or 2/3 instead of using percentages...?