dfs - who is ready!

lisnic Registered Posts: 141 Dedicated contributor 🦉
ok just want the exam now bring it on!!!

i am going to do 2 more past papers tonight and read through my notes for standards, ratios and framework

im happy with section 1 - did dec 2007 after btc this morning. started 2.10pm finished 4.24pm whole paper start to end no notes just did it. section 1 i got 2 errors in group BS with trade receivables and payables but i know what i did but BS still balanced. everything else perfect incl the income statement which is my worst part!

ratios im 80% happy with depending on what it asks. happy with calculations and interpreting them with the financial statements and think im happy how they link together and if i need to recommend for investers/lenders that sort of thing - only thing i need to remember is the definitons a bit better for them and each of the definitions for profitability, financial position, liquidity etc

the framework stuff im happy with most of it just get bit muddled up describing equity


  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
    Yeah think I'm ready, well will have to be lol Section 1 is fine, usually get everything to balance if not I've just a made a silly mistake, transposed figures, read question wrong or missed something completely. Usually manage to find it and put it right, but not akways. As for the written bits in section 1 go my wording could be better and my answers don't always contain enough info but I score some marks at least.

    Section 2 am normally ok with the formulae and calulations, only seem to use certain ratios though in the past papers I've done and I'm worried that some I don't know that well will be on tomorrows paper. Like you need to remember definitions better, seem to get the reasons right for the improvement/deteriation in the ratios and the suggestions to improve performance. As for 2.2 I have improved but always put much less than model answer, in other words don't know much at all.

    My main problem is I'm absolutely rubbish at basic stuff like definitions in the framework, and its so easy to muddle bits up ffom one standard to another.

    Oh well, will soon be over.

    Good luck to all of you with exams still to sit this week.
  • Frankie1976
    Frankie1976 Registered Posts: 33 Regular contributor ⭐

    I just want the exam done and dusted now. I am relativly happy with everything, think I've managed to overcome my demon which was interpreting ratios. I am happy with section 1, but section 2 has been a sticking point, I hope I can get it this time.

    'Equity is the residule interest in the assets of an entity after deducting all it's liabilites'.
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