Unit 11 dfs

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embica
embica Registered Posts: 19 New contributor 🐸
Right guys - what do we think is going to come up this year?

I've got a list of:
Journals
Income Statement
Balance Sheet
Consolidated Balance Sheet
Cash Flow Statement
Ratios

Anything I've missed?!

Worried Emma! x

Comments

  • ema192
    ema192 Registered Posts: 107 Dedicated contributor 🦉
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    cash flow reconcilliation there is no proforma for this, i am just trying to revise the framework at the moment that always seems to come up at the end. there may be a consolidated income statement, report on the cash flow statement, just a few things i have come across over the last few papers , hope this helps :-)

    emma
  • embica
    embica Registered Posts: 19 New contributor 🐸
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    ema192 wrote: »
    cash flow reconcilliation there is no proforma for this, i am just trying to revise the framework at the moment that always seems to come up at the end. there may be a consolidated income statement, report on the cash flow statement, just a few things i have come across over the last few papers , hope this helps :-)

    emma


    Thanks for that - although I'm not sure about the consolidated profit and loss - our tutor told us that it's nearly 100% likely to be the balance sheet they get us to work on? I haven't seen a past paper with a consolidated P&L unless I'm not looking far enough back?! EEEK! I'm scared! I hate exams with a passion! :)
  • ema192
    ema192 Registered Posts: 107 Dedicated contributor 🦉
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    i did june 07 this morning which had an consolidated income statement, they are pretty straight forward tho to be honest, id just have a brief look at one just incase they do crop up, i would rather that than an balance sheet ha ha we can dream!! try not to panic i am cramming big time but i learn/work better under pressure!! im worried that a ratio comes up that i havent looked at or something :-(. good luck xxx
  • Greycow
    Greycow Registered Posts: 83 Regular contributor ⭐
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    I am finding that i am coping with the number crunching. just need to slow down a bit and read properly!! I go into a panic when asked to explain. I am not looking forward to the ratio section I had enough problems with these in Unit 15.

    Oh well back to past papers later I now have my job as Mum's taxi for a little while
  • DaveIOW
    DaveIOW Registered Posts: 85 Regular contributor ⭐
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    I dont think you should rely on anything tutors tell you that may or may not come up. They dont write the exams & the person that writes them has changed recently I think so they cant really use history to base their assumptions on.

    I also think a crucial part is the understanding of IAS's & the Framework, especially for section 2 as you need to get most of this right to pass. This should be mostly about the Framework as per the guidance, but there was a bit of controversy about the last exam as he threw a bit in that related to IAS1
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    I received countless complaints about the examiner testing the IAS 1 in June 2009 but I disagreed with every single student who said he had caused controversy! The examiner completely tested within the boundaries of the syllabus and any complaints about this from disgruntled students were totally unjustified and their anxieties carried no weight. The examiner won't not test a standard because students commonly struggle with it - in fact he may examine it more frequently!

    As DaveIOW says above, if you have a good basic knowledge of the IAS's then you will be fine. You also do need to have a sound grasp of the Framework Document and its purpose - remember it's not a standard itself - it helps the IASB in developing IFRS's.

    Kind regards
    Steve
  • embica
    embica Registered Posts: 19 New contributor 🐸
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    Part of me is tempted to not go to the exam - I'm so not ready! I've been going over stuff and it's just not in my head and I can't get it to go in either. Preparing for a resit in June - I know it's not the attitude but I'm just :( about this exam.
  • jorja1986
    jorja1986 Registered Posts: 210 Dedicated contributor 🦉
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    Why waste the money?

    Even if you are unsure give it a go worse case you fail but you have gained valuable examination practice, best case you pass and all worries are gone :)

    I thought about not attending exams before but why give up £40ish for nothing? I can only but try.

    I am struggling with the standards a bit, but i am just going over past papers not learning them by rote and preparing my knowlegde so if anything "unexpected", i use the term very loosely, comes up i dont panic.

    Everything in the sylabus can be examined so i try not to think what mught come up as that can leave you unprepared.
  • dobbieobby
    dobbieobby Registered Posts: 231 Dedicated contributor 🦉
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    I'm doing the same Jorja, I'm good at the numbers bit, but the standards are long winded and frankily a bit boring ;-)
    So I'm reading them and remembering them my way.
    As it's been put on here before, we're not expected to remember the correct wording of a standard, but what it means.
    Section 2 is worrying me now...
  • embica
    embica Registered Posts: 19 New contributor 🐸
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    I know - you're right - I will go to the exam but I know I'm not ready and no matter how much work I put in, I'm still not ready. I just hate exams - I wish there was coursework we could do instead!


    jorja1986 wrote: »
    Why waste the money?

    Even if you are unsure give it a go worse case you fail but you have gained valuable examination practice, best case you pass and all worries are gone

    I thought about not attending exams before but why give up £40ish for nothing? I can only but try.

    I am struggling with the standards a bit, but i am just going over past papers not learning them by rote and preparing my knowlegde so if anything "unexpected", i use the term very loosely, comes up i dont panic.

    Everything in the sylabus can be examined so i try not to think what mught come up as that can leave you unprepared.
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    dobbieobby wrote: »
    I'm doing the same Jorja, I'm good at the numbers bit, but the standards are long winded and frankily a bit boring ;-)
    So I'm reading them and remembering them my way.
    As it's been put on here before, we're not expected to remember the correct wording of a standard, but what it means.
    Section 2 is worrying me now...

    im with you. Im quite looking forward to section 1. But im dreading section 2!
  • lilcherubxx
    lilcherubxx Registered Posts: 4 New contributor 🐸
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    Im dreading section 1, I failed DFS in June because of section2 and due to PCR and PEV i know ratios so well, and have forgotton half of Section 1 eeeekk!!!
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    too many standards not enough brain cells = aggghhhhh now thats an equation i can remember :lol:
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    why cant they base your marks across the whole section instead of splitting into 2 sections and having to pass both? ANNOYING!!!
  • dobbieobby
    dobbieobby Registered Posts: 231 Dedicated contributor 🦉
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    Know what you mean messedup, I'm more prepared for Section 1 DFS than any exam I've ever sat, it's just section 2 I'm worried about now.
  • twinmeister
    twinmeister Registered Posts: 122 Dedicated contributor 🦉
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    DFS - Framework and IASs - Question for DaveIOW

    Bit concerned about previous comments about IASs and Frameworks.

    Our tutor waffled on a bit about these and I've used the Osborne book to learn as much as I can, but the model answers for past papers seem to refer to sub-sections of the IASs or sections of the Framework that I just don't have the detail to.

    Where do you get this detail from, especially for the framework?

    Also, I was unaware of the controversy about section 2 asking about the IASs, when it should only ask about the framework. How do you know what should be asked where???

    Do you really have to shine at all IASs and framework questions to pass???

    Not convinced?
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