where to show your workings

Londina

If you are preparing budgets and variances, where do you show your workings? next to the figures (so the budget doesn't look like a proper one) or in a separate paper?
same question applies to the financial statements, since it's required to produce a specific layout, should the workings been shown in separate paper?

CJC

Generally, I would put workings separately on the same page as the budget etc referencing them with W1, W2... next to the figures being calculated so it's obvious which figures relate to which workings. If there's isn't space on the same page put a note on the page as to where you've done the workings and head them with something like 'Workings for Question 5' so the examiner can find them easily. Occasionally, if there's a very basic calculation I'd put it next to the figure placing it in brackets - e.g.for the simple subtractions or additions in the ETB such as taking a bad debt from debtors I'd just do 10500 (11000 - 500)

Ultimately, it doesn't really matter exactly how you do things as long as you're clear and the examiner can see how you've arrived at a given figure. The way the answers to past papers are laid out should give you an idea of how to do things.

Londina

thanks for the advice! oh, I'm getting paranoid on everything now!:confused1:

SandyHood

An alternative to CJC's recommendation is to have them as a column (I tend to have a column for the words, then a per unit/workings column, then the budget info)
I was interested to see the examiner using a column for workings on his section 2 answer (at the end away from the words)

But what ever you do, these workings need to be clear and neat and easy to see from the budget itself

Londina

thanks Sandy! what about for the calculation of the variances, I don't use the formulas in my workings, is it a problem?
I know it's a silly question, at the end of the day the correct result it's what it counts, but I just want to be sure!

example

MATERIAL PRICE VARIANCE
standard £5 x 22500KG= £112500
actual £5.50x 22500KG= £123750
variance adverse (£11250)

SandyHood

That should be fine
My class in Chichester don't use any formulas and I know the examiner finds the layout they use fine

heartsandstars

I have been wondering about this as well, so thank you for answering