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).
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.
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
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.,
Comments
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?
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:
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.
What did everyone put for the question on impairment losses?
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.
Dont worry about it too much.,
Agreed. It was a very nice paper. I do have slight reservations about the impairment question though as the wording was not too clear.