B****y cashflows

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A-Vic
A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
Dont know what it is am moving on fine with the rest on DFS but cashflows are killing me, any tips on them?

Also another thought am getting worried about section two and timing and was thinking of doing this first any thoughts????

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  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
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    Did you just swear :O

    I'd recommend still doing section 1 first, means you can get it out the way quickly and then have the rest of the time to concentrate on section 2, rather than spending all your time stuck/thinking on section 2 and forgetting to complete section 1 all together lol
  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    Also another thought am getting worried about section two and timing and was thinking of doing this first any thoughts????

    I think you've answered your own question there Vic with a good reason why you shouldn't attempt section two first. You could find yourself getting bogged down with the second section, spend too much time over-answering the narrative questions, and not leave yourself enough room for the core points of section one.
  • jow774
    jow774 Registered Posts: 465 Dedicated contributor 🦉
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    On a recent revision day we were recommended to do the section we found hardest first while its fresh in your mind.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    dam if only i could do both at the same time in that case
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    and a £1 in the jar for my potty mouth also (slapped hand)
  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
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    jow774 wrote: »
    On a recent revision day we were recommended to do the section we found hardest first while its fresh in your mind.

    Fair enough, your tutor has their own methods and I'm sure they have proven results. Personally, I'd never attempt the hardest part of any test first just as I wouldn't eat the worst part of a meal first and risk losing my appetite.

    You need to approach any exam with confidence and this should hopefully increase as you progress through the paper. Any sudden loss of confidence at the outset could have unfortunate consequences for the rest of the paper and we've all heard people audibly groan at exam sittings once they've turned the first few pages. As I said previously, you could devote so much effort into tackling and overcoming the stumbling blocks of the hardest section that you leave little time left for the easier but still time consuming parts.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    blobbyh wrote: »
    Fair enough, your tutor has their own methods and I'm sure they have proven results. Personally, I'd never attempt the hardest part of any test first just as I wouldn't eat the worst part of a meal first and risk losing my appetite.

    You need to approach any exam with confidence and this should hopefully increase as you progress through the paper. Any sudden loss of confidence at the outset could have unfortunate consequences for the rest of the paper and we've all heard people audibly groan at exam sittings once they've turned the first few pages. As I said previously, you could devote so much effort into tackling and overcoming the stumbling blocks of the hardest section that you leave little time left for the easier but still time consuming parts.

    But thats the bit thats worring me robert its a 70 30 split exam paper this time and timing myself its taking over 2.5 hours to do section one that only leaves me 30 mins for a whole section, which i may add you need also to get around 75%
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    But thats the bit thats worring me robert its a 70 30 split exam paper this time and timing myself its taking over 2.5 hours to do section one that only leaves me 30 mins for a whole section, which i may add you need also to get around 75%

    Now I'm really worried, haven't timed myself properly yet. Must start tomorrow.
  • jow774
    jow774 Registered Posts: 465 Dedicated contributor 🦉
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    You "need" to approach an exam however you feel best suits you. I personally find that towards the end of an exam I am quite tired and thats when i tend to forget fundamental concepts so I think if it suits to attempt section two when your mind is fresh then so be it.

    Horses for courses and all that.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    I dont know gonna see how i feel on the day
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    Hi All,

    You need to be extremely (and I emphasise the word 'extremely') careful with your time allocation in this exam. It is so easy to get bogged down in the numbers part of the paper and forget the ticking clock at the front of the exam hall. If you have run out of time on a question - particularly at DFS (for example if your consolidated SoFP doesn't balance) then you must move on. By not moving on you are risking failing other parts of the paper. The chances are by the time you have come round to balancing the position statement (which might not balance) you have passed the Q anyway.

    As I am going to drum into my class tomorrow - it is more important to demonstrate your approach. The examiner KNOWS that a statement of financial position or a statement of cash flows has to balance and he knows you know - the key is demonstrating a competent and methodical approach to the question. Balancing the thing isn't important even though it is a bonus when it does.

    Doing questions to time is a crucial aspect of revision and it will develop good habits. Those of you that are moving on to ACCA/other chartered qualifications will not get a time allocation for you in the chartered papers - you are expected to (a) work out your own time allocation (usually 1.8 minutes per mark) and then (b) stick to it! Sticking to your time allocation at AAT level will give you excellent grounding for further professional exams you may sit.

    Again, I reiterate that it is vital you stick to your time allocation because once you're in the exam hall, you cannot have anymore time than the 3 hours to complete the paper and demonstrate you are competent to pass!

    Good luck.

    Regards
    Steve
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Thanks Steve

    I have the whole weekend doors locked phone off the hook and working on exam conditions two papers (saturday and sunday) 3 hours on each figers crossed.
  • troy
    troy Registered Posts: 275 Dedicated contributor 🦉
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    Can I just add (supporting what Steve said...not that he needs it) that I did DFS in June. And none of the fisrt three accounts balanced! I was well stressing....but I took a deep breath after each one and just moved on to the next question!!!!

    When I had completed the whole paper (checking I had not missed anything about a dozen times), I went back to the three unbalanced accounts. I was able to get one of them to balance but did not sort out the last two. I had shown ALL my workings and did add a note that I knew they should have balanced. I still passed though, I still think that it was more to do with me panicing about the exam (likely I transposed a number),rather than me not being competant. I went on revision courses and I did know what I was doing, but on the day it can just come down to nerves.
  • cornflower
    cornflower Registered Posts: 129 Dedicated contributor 🦉
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    Steve my boss and me went on a course this week on IFRS updates as we are both gonna do ACCA and your name was mentioned in the course. The tutor kept referring to your articles and saying that you are an influential person in the proffesion.

    Steve you rock man!
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    I went on a revision course a few weeks ago and the advice I was given was do your 'best' bits of the paper first to secure 'easiest' the marks then work your way through the bits you find harder.

    Hopefully your confidence will grow as you nobble the parts you can do well.

    The other thing I'm going to do straight away is scribble down the ratio formulas quickly for section 2, as I sometimes get them upside down and do stupid things; if I pencil them down first then I stand a chance of getting it right in the event that I suffer a complete brain drain by the end of the exam!!!!!

    Anna (trying to be optimistic!)
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • lou123
    lou123 Registered Posts: 53 Regular contributor ⭐
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    I agree with Steve and anniem

    I passed DFS on my FOURTH attempt last summer and had always failed on section 2. The last time I did what anniem suggests and scribbled down the ratios when I read through the paper at the start of the exam, and also the answer to the 'standards' question, so I knew I could concentrate on the number crunching in section 1.

    When I got to Section 2 the ratios were ready so I just had to interpret them, and I'd advise you to put down everthing you can here. When I think back to my first couple of attempts I realise the information I provided didn't really tell the reader anything more than the ratios already had - try to make comparisons and explain what affect they had on the finances.

    Also, if you are asked whether to recommend an investment or not, don't stress too much over the right or wrong answer, it is more to do with how you have interpreted the figures and what recommendations you can make based on them. As long as you can support your findings you'll be fine.

    Good luck to all of you - you'll be amazing! xx
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    Im struggling on DFS more than i thought. Had a Mock exam yesterday. Took me 1 hour 5 mins though i did miss some written questions and some wernt in depth. Even if i did it properly i reckon it would only have taken me 1 1/2 hours. Timing is never an issue with me. Im struggling with my cashflow and the written questions. Need to get my head round that! Just over 1 week to go! PANICK!
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    messedup89 wrote: »
    Im struggling on DFS more than i thought. Had a Mock exam yesterday. Took me 1 hour 5 mins though i did miss some written questions and some wernt in depth. Even if i did it properly i reckon it would only have taken me 1 1/2 hours. Timing is never an issue with me. Im struggling with my cashflow and the written questions. Need to get my head round that! Just over 1 week to go! PANICK!

    you did a whole exam in 1.5 hours?? wow
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    you did a whole exam in 1.5 hours?? wow

    Yer it rarely takes me more than 1.5 hrs. My longest is just over 2 hours. Think that was PEV AND ECR maybe? Quickest is 50min FRA (never been anywhere near that quick since tho!)
  • joantuba
    joantuba Registered Posts: 12 New contributor 🐸
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    Our tutor reckons that if you take more than 2 hours on any exam you are not ready for that exam! She aint the one sitting it though!!!!
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    joantuba wrote: »
    Our tutor reckons that if you take more than 2 hours on any exam you are not ready for that exam! She aint the one sitting it though!!!!

    thats rubbish. Otherwise you wouldn't be given 3hrs 15min!
    Gives you plenty of time to check your work and take your time
  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
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    joantuba wrote: »
    Our tutor reckons that if you take more than 2 hours on any exam you are not ready for that exam!

    That's appalling, completely valueless advice for any professional tutor to give and could potentially undermine the confidence of examinees should they breach this alleged two hour 'benchmark'. So bad that if any of my tutors had ever said that in advance of an exam I'd sat and I went over the "time limit", I'd definitely be having a quiet word with them afterwards regarding their teaching approach.
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    joantuba wrote: »
    Our tutor reckons that if you take more than 2 hours on any exam you are not ready for that exam! She aint the one sitting it though!!!!

    is one of her teaching methods also to sit behind you in the exam and tut at the amount of time you are spending on each question??? :(

    I would say something as if that doesn't knock your confidence then i dont know what will.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    O by the way anyone sitting in chadderton please take all your cough medicine now lol.

    As for the tutor id like to see them put up and sit the exam or shut up am sorry but that kind of comment is counter productive and not needed it doesnt matter if it takes one hour or the full 3.15 hours as long as they have done their job and shown you what to do in the exam what the heck does it matter
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Had to share am so happy and tired i could cry but by joe i think i get them now


    Whooopieee 4 past exam questions and now i get it *does a dance*
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    Had to share am so happy and tired i could cry but by joe i think i get them now


    Whooopieee 4 past exam questions and now i get it *does a dance*

    Well done Vicky, it's great when that light comes on isn't it! :001_smile:
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