DFS - Exam discussion post

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  • liz72
    liz72 Registered Posts: 4 New contributor 🐸
    DFS - consolidated balance sheet

    Me too.

    Had no problems with the journals income statement or balance sheet. Cashflow statement all reconciled and the section 2 report comments seem ok enough.
    However with the consolidated balance sheet I didn't manage to balance the equity section (Net assets came out at £85K pretty sure top half was ok).( I did something silly with the retained earnings and didn't have time to correct).

    So yes ..... does anyone know if this is a fail?
  • ccreaven
    ccreaven Registered Posts: 119 Dedicated contributor 🦉
    report?

    can anyone remember if the question where we had to advise to continue to invest or not was just a quick answer or a report?:001_unsure:
  • sloshed
    sloshed Registered Posts: 100 Dedicated contributor 🦉
    Hi

    Can I just offer some reassurance about passing the exam. When I sat DFS a couple of years ago I did not get the consildated balance sheet to agree nor did my cash flow and I still passed.

    So do not get yourself down with worry. As long as you can proof that you are compentent you will be fine.
  • charchar109
    charchar109 Registered Posts: 3 New contributor 🐸
    Hi,

    What did everyone put for the question on impairment losses?
  • Gingerheid
    Gingerheid Registered Posts: 12 New contributor 🐸
    ccreaven wrote: »
    can anyone remember if the question where we had to advise to continue to invest or not was just a quick answer or a report?:001_unsure:

    I'm pretty certain it asked for a report.
  • [Deleted User]
    [Deleted User] Posts: 0
    Gingerheid wrote: »
    I'm pretty certain it asked for a report.

    2.1a) How to calculate the ratios.

    2.1b) The ratios for the 2 years.

    2.1c) Explain the ratios.

    2.1d) Invest or not? (a quick paragraph)


    2.2a) Explain current assests.

    2.2b) Explain current liabilites.
  • caz784
    caz784 Registered Posts: 7 New contributor 🐸
    Primble wrote: »
    oh i dont think i got anythin near that
    I think I failed DFS, my balance sheet didn't balance, I wrote a note however stating that I was aware it didn't balance, don't think it will be enough though as my cash flow statement was a mess
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
    Depends on why it didnt balance if it was just a small error you wont get marked down too much. Also you are never penalized more than once for an error
    Dont worry about it too much.,
  • The Deadman
    The Deadman Registered Posts: 26 Regular contributor ⭐
    This paper was Dead easy. Consolidations, journals, cash flow and simple ratios all too easy. :laugh:
  • [Deleted User]
    [Deleted User] Posts: 0
    The Deadman wrote: »
    This paper was Dead easy. Consolidations, journals, cash flow and simple ratios all too easy. :laugh:

    Agreed. It was a very nice paper. I do have slight reservations about the impairment question though as the wording was not too clear.

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