DFS unit 11- Exam overview

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confused
confused Registered Posts: 3 New contributor 🐸
The Exam overview issued by Kaplan lists typical tasks for section 1 and 2 . two items have thrown me into disarray. I fear I am becoming "definition -obsessed" -

Section 1 :- "drafting a statement of gains and losses for a limited company" - what exactly is required?

Section 2:-"Demonstrating the effect of contributions from owners and distributions to owners on ownership interest" - does this relate to explaining the effect on the accounting equation of an increase /decrease in equity?

Am I so busy looking for "traps" that I am missing the obvious?

help would be appreciated

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  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
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    I also came across a "Statement of recognised income and expense" in the Osborne book which i gather is an alternative format for the "Statement of changes in Equity".

    I wonder if this is what Kaplan is mentioning? - although we havent covered it in lessons so if it comes up we've had it!
  • confused
    confused Registered Posts: 3 New contributor 🐸
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    Unit 11 exam overview - eureka methinks!

    Thank you sally -I think you are right - I have just found this :-

    "statement of changes in equity proforma - this brings together all of the gains and losses for the period . It recognises both recognised and realised gains "

    Now why do they not use the same phrase as has been used all the way through the text book?

    If you see someone running, screaming from the exam room on Wednesday - it will probably be me ....

    regards
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