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DFS - Exam discussion post

LondinaLondina Experienced MentorMAAT, AAT Licensed Accountant Posts: 814
After 3 pm...everybody here to discuss it?:cool2:
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Comments

  • HunnieHunnie Feels At Home Registered Posts: 41
    Half an hour to go...:)
  • Big BirdBig Bird Feels At Home Registered Posts: 62
    ten minutes to go:001_tt2::001_tt2::001_tt2:
  • mark130273mark130273 Font Of All Knowledge Registered Posts: 4,234
    tick tock........how did everyone find it....no details...just easy to hard ?
  • Big BirdBig Bird Feels At Home Registered Posts: 62
    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:
  • NagraNagra Feels At Home Registered Posts: 28
    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!!
  • PrimblePrimble Experienced Mentor Registered Posts: 734
    sorry nagra. nut.. woooooo i'm not the only one that struggled
  • NagraNagra Feels At Home Registered Posts: 28
    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:
  • PrimblePrimble Experienced Mentor Registered Posts: 734
    i don't know if i want to look
  • NagraNagra Feels At Home Registered Posts: 28
    Hey I wish you luck, but if you do fail, at least you'll have a re-sit buddy in me!! lol
  • mark130273mark130273 Font Of All Knowledge Registered Posts: 4,234
    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-kjkjg-kj Feels At Home Registered Posts: 68
    So what did people put for the final question about the current assets & liabilities?
  • HunnieHunnie Feels At Home Registered Posts: 41
    can anybody remember any figures??
  • mark130273mark130273 Font Of All Knowledge Registered Posts: 4,234
    never took it...so got no figutres?
  • JOEY123JOEY123 New Member Registered Posts: 5
    I just wrote the feinition of an asset and liability...don't think it will be enough though :(
  • NagraNagra Feels At Home Registered Posts: 28
    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:
  • HunnieHunnie Feels At Home Registered Posts: 41
    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
  • beansprout64beansprout64 Feels At Home Registered Posts: 29
    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 BirdBig Bird Feels At Home Registered Posts: 62
    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:
  • PigpenPigpen Trusted Regular Registered Posts: 331
    Hunnie wrote: »
    can anybody remember any figures??

    I wrote them on my eraser !
  • kjg-kjkjg-kj Feels At Home Registered Posts: 68
    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.
  • NagraNagra Feels At Home Registered Posts: 28
    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
  • PrimblePrimble Experienced Mentor Registered Posts: 734
    nagra, you going to be doing it at thorpe then? really sit next to me. lol
  • beansprout64beansprout64 Feels At Home Registered Posts: 29
    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
  • NagraNagra Feels At Home Registered Posts: 28
    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!!
  • ShellhutchingsShellhutchings Just Joined Registered Posts: 3
    I remember one figure being 85278 and another 22777. Anyone else get this?
  • NagraNagra Feels At Home Registered Posts: 28
    I remember one figure being 85278 and another 22777. Anyone else get this?

    I got 85278 for consolidated balance sheet!! :thumbup:
  • laurloulaurlou Settling In Nicely Registered Posts: 23
    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!!
  • xamixxamix New Member Registered Posts: 11
    yep im pretty sure i got those figures too! and i think the income statement proffit was 3317 or something like that...
  • playboybunny_110playboybunny_110 New Member Registered Posts: 10
    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!
  • PigpenPigpen Trusted Regular Registered Posts: 331
    I remember one figure being 85278 and another 22777. Anyone else get this?

    Yep got those figures -
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