FAO Steve

Glynis

Having come to the conclusion that I have made a mess of my DFS paper in Jkune can you advise if there are any major changes to the IAS for December?

Just wondering if I should get some new books.

Glynis

Steve Collings

I think you're being a bit hard on yourself there. Lots and lots of students on here and on AccountancyStudents are always saying how terrible an exam was and how they are going to be resitting at the next sitting and then post a thread in August when the results are out saying they have passed.

In the unfortunate event that you do fail then there has been no major changes to IFRS that would warrant investing in new material.

I can also confirm that I will be travelling around the country for December sittings lecturing in subjects such as DFS so you could attend one of those sessions. I have arranged to team up with Sandy Hood in October so you could come to one of those days if you are doing PEV or another such paper.

regards
Steve

Julia

Steve is completely right. I am a BPP tutor and the number of students who say they have failedd but then pass is amazing.

Stop worrying - there is nothing you can do about the paper now!

Julia

Glynis

Thanks for your assurances but I am convinced I have failed after looking at steves answers.

I thought the paper was slightly unfair.

Steve Collings

Glynis wrote: »

I thought the paper was slightly unfair.

I am sorry Glynis but I am at a loss as to understand why you found DFS J09 unfair. This paper was anything but unfair and I am unsure exactly what it was you were expecting.

My comments may be harsh, but I am of the opinion that if any candidate sitting DFS in June 09 found the paper unfair then clearly they have not done enough preparation for the exam.

The exam tested core accounting competencies such as accounting standards, consolidated financial statements and interpretation - all of which are typical at DFS level. There was absolutely nothing in DFS which should have caught candidates off guard. The examiner tested candidate's abilities within the parameters of the syllabus and it is up to the candidate themselves to make sure they cover each area of the syllabus sufficiently enough to gain competence in DFS. The AAT nor the examiner cannot be held accountable if certain aspects of the examination caused difficulties. The syllabus in DFS is perfectly clear as to what the examiner is expecting from his candidates.

I am sure it will be good news for you in August. Stop worrying about it now and enjoy the fact that you have no studies for the next few weeks!:thumbup1:

Regards
Steve

Glynis

I can see what you are saying Steve but I found the impairment question confusing and the current assets question misleading.

I know youi will disagree but that's my opinion.

Steve Collings

Those were 1 question each from each section so as long as you attempted both of these then I cannot see why you are convinced you have failed.

Students do not know how the marking process works and marks are awarded for more than just technical content - even a wrong answer can attract marks.

Students may have got confused with the current asset/liability question as I know a number of students who cited the definition of an asset/liability which is contained in the Framework doc as opposed to IAS 1 so whilst this might not attract marks because it didn't answer the question set, it would not necessarily be enough to fail the whole section/paper.

You really need to forget this paper now as there's nothing you can do about it. Just enjoy the break!

Steve

Glynis

So would you agree those questions were misleading. A friend who I studied with also said they could have been interpreted differently.

Thanks for your advice.

Steve Collings

Glynis,

I do not know what you want me to say to you but I simply cannot agree with you that this paper was, in any way, shape or form misleading, ambiguous, confusing or difficult.

No questions in DFS J09 were able to be misunderstood. I can understand why some students would have cited the provisions of the Framework Doc instead of IAS 1 when asked to discuss the current assets/liabilities provisions but even so I cannot agree that the question was misleading.

The impairment question was very fair. The examiner kept within the boundaries of the syllabus and asked candidates for commentary about the two key figures used in the impairment calculation, that of value in use and net selling price. Candidates who had studied in accordance with the syllabus would have been able to handle this question well because they would have known that the higher figure between the two is used as recoverable amount.

Again I reiterate my comments that, in my opinion, DFS June 2009 was absolutely fair with no nasty surprises for the candidate who had adequately prepared for this paper. Any tutor, student or otherwise who says it was unfair or misleading clearly hasn't any idea of what DFS's objectives are.

FYI I have asked another qualified accountant to have a look at DFS J09 to see if she believes the paper was in any way misleading, though I doubt she will say it was.

You really need to chill out about this paper now and enjoy the rest of the break!

Steve

Steve Collings

I asked Annette (Bluewednesday) to have a look at DFS June 2009 following the above comments.

Annette is interested in how you could have interpreted the questions on impairment and current assets/liabilities differently as the examiner is telling you where to look to get the answer i.e. IAS 36 and IAS 1 respectively.

Both Annette and myself can only come to the conclusion that any candidate who struggled in these areas had not covered the IAS's sufficiently enough.

Kind regards
Steve

arleneld

I thought the DFS paper was very fair, unfortunately I hadnt read up on Impairment Leases, (even though I did buy your publication Steve), but I could have written a page on Intangible Assets! :laugh:

Steve Collings

arleneld wrote: »

I thought the DFS paper was very fair, unfortunately I hadnt read up on Impairment Leases, (even though I did buy your publication Steve), but I could have written a page on Intangible Assets! :laugh:

Don't worry about that you don't have to get the whole paper right to pass.

Good luck in August anyway!

Best wishes
Steve