DFS - Exam discussion post

Londina
Londina Registered Posts: 814 Epic contributor 🐘
in AAT Level 4 (Level 8 in Scotland)
After 3 pm...everybody here to discuss it?:cool2:
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Comments

  • Hunnie
    Hunnie Registered Posts: 41 Regular contributor ⭐
    Half an hour to go...:)
  • Big Bird
    Big Bird Registered Posts: 62 Regular contributor ⭐
    ten minutes to go:001_tt2::001_tt2::001_tt2:
  • mark130273
    mark130273 Registered Posts: 4,234 Beyond epic contributor 🧙‍♂️
    tick tock........how did everyone find it....no details...just easy to hard ?
  • Big Bird
    Big Bird Registered Posts: 62 Regular contributor ⭐
    I thought it was a really fair exam, everthing balanced its just the memo part
    thats a bit hard to tell how that went:001_smile::001_smile:
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    I defo think I'll be re-sitting, totally messed up the journals which made my balance sheet & income statement incorrect - it got so bad that I put a suspense line in my balance sheet just so I could balance it up!!

    Consolidation Balance sheet was fine

    Cashflow statment was also a disaster :-(

    Section 2 however wasn't too bad

    Good luck to everyone else though!!
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
    sorry nagra. nut.. woooooo i'm not the only one that struggled
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    Primble wrote: »
    sorry nagra. nut.. woooooo i'm not the only one that struggled

    Haha, I'm just praying for these answers to come up to confirm my thoughts!! :crying:
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
    i don't know if i want to look
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    Hey I wish you luck, but if you do fail, at least you'll have a re-sit buddy in me!! lol
  • mark130273
    mark130273 Registered Posts: 4,234 Beyond epic contributor 🧙‍♂️
    Nagra wrote: »
    I defo think I'll be re-sitting, totally messed up the journals which made my balance sheet & income statement incorrect - it got so bad that I put a suspense line in my balance sheet just so I could balance it up!!

    Consolidation Balance sheet was fine

    Cashflow statment was also a disaster :-(

    Section 2 however wasn't too bad

    Good luck to everyone else though!!

    hey if you had the knoledge to put a suspense in that will not be too bad .as i had to do that last year and they past me ...
  • kjg-kj
    kjg-kj Registered Posts: 68 Regular contributor ⭐
    So what did people put for the final question about the current assets & liabilities?
  • Hunnie
    Hunnie Registered Posts: 41 Regular contributor ⭐
    can anybody remember any figures??
  • mark130273
    mark130273 Registered Posts: 4,234 Beyond epic contributor 🧙‍♂️
    never took it...so got no figutres?
  • JOEY123
    JOEY123 Registered Posts: 5 New contributor 🐸
    I just wrote the feinition of an asset and liability...don't think it will be enough though :(
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    mark130273 wrote: »
    hey if you had the knoledge to put a suspense in that will not be too bad .as i had to do that last year and they past me ...

    Hmmm....I really don't think it's likely though, I really did mess it up :001_unsure:
  • Hunnie
    Hunnie Registered Posts: 41 Regular contributor ⭐
    kjg-kj wrote: »
    So what did people put for the final question about the current assets & liabilities?

    i quoted the IAS i.e. definition of an asset and definition of a liability and then gave examples of each. Wasn't sure what else to do :S
  • beansprout64
    beansprout64 Registered Posts: 29 Regular contributor ⭐
    i wrote the definitions of assets and liabilities. and i also explained the difference between current ones and non current ones. What else could they expect us 2 write about them?
  • Big Bird
    Big Bird Registered Posts: 62 Regular contributor ⭐
    Yep I wrote the definitions but said that currents assest were easier to turn into cash,
    and current liabilities were short term rather than long term,

    not sure if that will get any credit or not:001_smile:
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Hunnie wrote: »
    can anybody remember any figures??

    I wrote them on my eraser !
  • kjg-kj
    kjg-kj Registered Posts: 68 Regular contributor ⭐
    beansprout64 wrote: »
    i wrote the definitions of assets and liabilities. and i also explained the difference between current ones and non current ones. What else could they expect us 2 write about them?

    Thats exactly what I did. I couldn't recall seeing a seperate section in our textbooks about 'current' assets & liabilities over ordinary ones.

    I did the definition & said either will be turned into cash/paid in under one year.
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    For current assets - I just said it was things that a company owns, which change on day-to-day basis with the running of the company

    Current Liabilities - was things company owes, which are likely to be paid within the current year
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
    nagra, you going to be doing it at thorpe then? really sit next to me. lol
  • beansprout64
    beansprout64 Registered Posts: 29 Regular contributor ⭐
    Big Bird wrote: »
    Yep I wrote the definitions but said that currents assest were easier to turn into cash,
    and current liabilities were short term rather than long term,

    not sure if that will get any credit or not:001_smile:

    yea i said how current is more the short time. i.e less than a year etc and game some examples
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    Primble wrote: »
    nagra, you going to be doing it at thorpe then? really sit next to me. lol

    Unfortunatley I'm in derby so might be a bit too far!!
  • Shellhutchings
    Shellhutchings Registered Posts: 3 New contributor 🐸
    I remember one figure being 85278 and another 22777. Anyone else get this?
  • Nagra
    Nagra Registered Posts: 28 Regular contributor ⭐
    Shellhutchings wrote: »
    I remember one figure being 85278 and another 22777. Anyone else get this?

    I got 85278 for consolidated balance sheet!! :thumbup:
  • laurlou
    laurlou Registered Posts: 23 New contributor 🐸
    Shellhutchings wrote: »
    I remember one figure being 85278 and another 22777. Anyone else get this?

    85278 was the balancing figures on the consolidated balance sheet...well thats what i got!!
  • xamix
    xamix Registered Posts: 11 New contributor 🐸
    yep im pretty sure i got those figures too! and i think the income statement proffit was 3317 or something like that...
  • playboybunny_110
    playboybunny_110 Registered Posts: 10 New contributor 🐸
    I also wrote the IAS's definitions of assets and liabilities which I luckily scrawled down as soon as we were allowed to write so i didnt forget it! Gave examples of current and said these are due/payable within one year.
    Didnt think it was too bad, a lot nicer than some of the past papers! :001_smile:

    2 down 1 more to go!
  • Pigpen
    Pigpen Registered Posts: 331 Dedicated contributor 🦉
    Shellhutchings wrote: »
    I remember one figure being 85278 and another 22777. Anyone else get this?

    Yep got those figures -

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