Dfs 02/12/09

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messedup89
messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
in AAT Level 4 (Level 8 in Scotland)
Back from DFS exam. didnt think it was too bad. What did everyone else think?
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  • geek81
    geek81 Registered Posts: 1 New contributor 🐸
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    I'm quite happy with the paper, although I tend to worry when that happens as I think I must have missed something! All in all, quite confident.
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    agreed. was pretty standard. no surprises
  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
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    Section 1 Financial statements seemed almost too easy! Always worried that my written answers will let me down though.... my report was a whopper !! Only one thing i'm not sure on... the entry on her memo regarding one of the ratios?? Did that concern anyone ....or are you really clever and knew exactly what she meant?
  • lilac_angel
    lilac_angel Registered Posts: 66 Regular contributor ⭐
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    If it's the ratio she gave there is 2 ways to calculate it. and she chose the method thats is normaly the alternative rather then the stard way they choose
  • Greycow
    Greycow Registered Posts: 83 Regular contributor ⭐
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    I did the same as lilac angel, so that is one worry down. The calculations seemed very straightforward, my worry is now with the written answers. Just have to wait til February.

    Last week I did not think I had a hope but with some solid studying, not easy with work and a faimly but I am now fairly confident. Just need to catch up on the housework :(
  • tonitowle
    tonitowle Registered Posts: 32 Regular contributor ⭐
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    That ratio threw me as well, i started to work it out the way ive been taught, but then realised it needed to be worked out the other way!

    Fingers crossed.....
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    I think it was hinting that you should calculate it that way ie (debt / equity) x100 as opposed to (debt / capital employed) x100
  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
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    Oh well.... thats one mistake i know about already.. ... I dont think this would effect my overall decision though...I advised on selling her investment ... is that right??
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    think i did that wrong aswell. oopsies!
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
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    what answers did everyone get then?

    all my stuff balanced but messed up the cashflow. hope ive done enough for a pass
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    its only a small part of the whole exam - i advised to sell also
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    what do you want to compare?
  • tonitowle
    tonitowle Registered Posts: 32 Regular contributor ⭐
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    I said not to sell as even though gearing was high, profits were still inline with industry averages and none of the other rations worried me!

    Ooops!
  • lilac_angel
    lilac_angel Registered Posts: 66 Regular contributor ⭐
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    My Cash flow didn't balance i was £3,700 out so i put it on there as suspense just to evan it out
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    if you can justify your decision then dont worry
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
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    tell me your answers then i will remember them lol. i didnt write them down but will recognise them. I put that the gearing and interest cover were quite high and it would be a high risk investment
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    my cash flow balanced

    7422 operations
    (13686) investing
    8000 financing
    1736 inflows
    (1286) overdraft
    450 cash at bank
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    the standard i messed up totally threw a blank on PPE thank goodness for 2.2 however made daft mistakes and none balanced but never has in any exams also gearing got me but i also advised to sell and look for a company with a better return on investment
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    I had 88.65 gearing and 3.3 interset cover? anyone else?
  • tonitowle
    tonitowle Registered Posts: 32 Regular contributor ⭐
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    Yeah i recognise those gearing & interest figures and i def had those figures on the cashflow aswell
  • safrica
    safrica Registered Posts: 106 Dedicated contributor 🦉
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    Had £6469 profit for the year on task 1.2
    Equity I got £18004
    Consolidated balance sheet got equity at £69487.

    Section 2 I recommended to withdraw her investment as gearing and liquidity ratios were worse...

    Anyone got the same ?
  • safrica
    safrica Registered Posts: 106 Dedicated contributor 🦉
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    The Master wrote: »
    I had 88.65 gearing and 3.3 interset cover? anyone else?

    Yes, got the same.
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
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    safrica wrote: »
    Had £6469 profit for the year on task 1.2
    Equity I got £18004
    Consolidated balance sheet got equity at £69487.

    Section 2 I recommended to withdraw her investment as gearing and liquidity ratios were worse...

    Anyone got the same ?

    im pretty sure my profit was something like £7000 something

    consolidated i got 69487 :D
  • spurschic1@yahoo.com
    spurschic1@yahoo.com Registered Posts: 94 Regular contributor ⭐
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    I got the same too!
  • The Master
    The Master Registered Posts: 34 Regular contributor ⭐
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    same as saffrica and chrislloyd
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    interest cover same

    How long did people end up taking i stayed till 15 mins before the end
  • tonitowle
    tonitowle Registered Posts: 32 Regular contributor ⭐
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    What did people write for IAS 16 / PPE? my mind went blank and i waffled a bit.
    Again what about question 2.2 - think it asked the accounting elements?
    Is it assets/liabilities/equity/income/expenses?
  • messedup89
    messedup89 Registered Posts: 1,281 Beyond epic contributor 🧙‍♂️
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    i took 1hr 35min, first balance sheet balanced, consolidated balance sheet didnt, cashflow balanced therefore cash rec did, skipped the IAS 16 question as didnt have a clue. Answered everything else tho think i calculated my gearing ratio wrong!
  • netty177
    netty177 Registered Posts: 3 New contributor 🐸
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    i took approx 2hr 30 mins and feel reasonably happy about it.
  • GreenTea
    GreenTea Registered Posts: 13 New contributor 🐸
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    My Cashflow didn't balance went over it and over it but couldn't find where I had gone wrong. I also put to withdraw investment.

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