fra exam questions

valentino46

will be sitting my fra exam in a couple of weeks so head down time!!

ive attempted practice exam after practice exam gaining valuable experience. i keep making simple reading errors and although im getting trial balnce to balance i am getting the final figure wrong but am putting the entries in thr right place in the accounts and etb.

will i be marked incorrect on the whole task if i put in the wrong figures but in the right place??

thanks guys

r

AK002

You will only loose one mark for getting a wrong figure, as long as AAT can see your calculations.

If you do get a wrong figure, i.e. ETB doesn't balance etc it is recommended to carry on and take the "wrong" figures through to the P&L and BS.

Esme

If your trial balance doesn't balance and you can't find the error, you could enter a suspense account.

valentino46

thanks guys.

A-Vic

But best advise put a note to the suspence account that you intend to work on it later like you would in a real situation