Dfs 02/12/09
Comments
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i used cost of sales0
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We I didn't use the debt/equity method, so got that wrong. I remember my finance ratio was 3.3 so may be this way right. I started to panic as people finished before me and left. Although I had plenty of time.0
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I advised on keeping investing! OMG Do you think it is a pass or fail number of points on that email?0
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I put the same elements, and then described the Assets Liabilities and Equity trying to remember the exact wording used, but not quite managing it though.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?0 -
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the same as me master, the gearing question almost threw me til i noticed last years figure and realised the basis for its calculation, I put both answers down to cover my bases, but mentioned the Debt/Equity calculation in the report was 88% too, and interest cover 3.3, I advised to sell0
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exactly the same safrica, though I was 20k out with the Balance sheet calculation as I carelessly used 580 rather than 560 for the interest accrual I got there in the end though........0
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2.2 a i said elements were assets/liabilities/equity/income/expense
2.2 b For statement of financial postion i used current assets/assets/current liabilites/ liabilities and equity and the definitions anyone else?0 -
Just assets liabilities and equity is sufficient for that as I understand but you might get a bonus point for being thorough........0
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2.2 a i said elements were assets/liabilities/equity/income/expense
2.2 b For statement of financial postion i used current assets/assets/current liabilites/ liabilities and equity and the definitions anyone else?
2.1 same 5 elements just listed
2.2 i stated the equation and then defined assets, liabilities and equity0 -
I hope not!!! I'm sure that provided you answered based on the ratios it asked you to then you should still get marks for it. Well that's what I'm telling myself!
im really worried about my report. im happy with everything except my gearing and also possibly my recommendation which im 50/50 on since they had investment in ppe
it would be interesting to see what steve collings thinks after reading our comments??0 -
I'm a bit worried my report wasn't detailed enough now. Happy with the ratios but it just asked to state whether they better or worse than the industry average so i did that and thought i was doing too much by explaining each one but didn't go into half as much detail as it sounds like some of you have.
First half was okay but didn't excel at IAS 16.
Looks like a nervous wait ahead.0 -
Monstous error
Read the paper with great care - tried to make sure I answered what was asked not what I wish I'd been asked.
Felt reasonably comfortable and handed in my papers.
Washed hands , put on coat and was leaving the building when I realised that I did not answer part2 question 2 .
Got so wrapped up in ratios and comparisons - must have gone temporarily blind. .
No idea how I was so stupid - was question 2 on the next page? Who can I blame?
Would need an incredilby high score for question 1 to compensate for the marks I so carelessly threw away by not answering question 2 .
The thought that a " straightforward" paper would result in an even higher % required to pass has just rubbed salt in my wounds .......................0 -
Dfs Exam
Hi every body.. I wish good luck for every body
I did a very bad mistake on section 2 on analysing the gearing ratio and that has been reflected on my recommedation on whether to invest or not.. I hope that won't be counted as major mistake that affect my overall performance in section 2.. Does any body knows how the marking system goes?? please If anybody knows anything.0 -
was question 2 on the next page?
The thought that a " straightforward" paper would result in an even higher % required to pass has just rubbed salt in my wounds .......................
yeah my thoughts about the pass marks possibly being even higher which is why im def worrying about my report
yes i think it was on the next page on the back and then 2 pages in answer book for 2.20 -
Email
I wrote in my email that I would try and help her with her ratios but I'd recomend googling it to make sure!0 -
Tarynmahon wrote: »I wrote in my email that I would try and help her with her ratios but I'd recomend googling it to make sure!
???0 -
The googling idea is a very sensible recommendation! .....I was going to tell her she'd clearly miscalculated gearing for Hoy for 2008 ..... glad i never!!!!!!0
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Well everybodys stressing themselves out when there is nothing we can do but wait for the dreaded results now!!
Section one all pretty straightforward as old pass papers Ias wasnt to bad everything balance and flowed quite happily , Section two i did use the long term liab/capital employed which is why my gearing ratio was lower than previously :-( everything else i did as should have aswell as framework so overall feel pretty happy! dont think that ratio will affect result to much hopefully!!
I hope everyone did as best they could and now we can all relax kick back and enjoy christmas :-)0 -
stupid gearing ratio!
I didnt even think to calculate the other gearing ratio as we were told to concentrate on the 2009 figures. Thought that the 2008 ratio was just given as a comparison, I didnt even think to actually caluculate it to find out which gearing ratio was used!! Boo hiss boo!!!0 -
well now ive come to the conclution i worked hard and gave it my best go and if i have to re-sit i will re-sit and try my best again0
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I think I didn't do too bad with the calculations, my worry is the written questions in secton 1. Really messed up on those so I'm hoping it doesn't come down to those as to whether I passed or not.
Fingers crossed!0 -
im not sure what every one is going on about with the gearing ratio, i thought the only ratios the client calcualted were net profit and gross profit margins. The gearing ratio in the table of what was it like 60% was the industry average, not one calcualted for the compnay for 2008.
Thats is correct, we were only ment to focus on calculating the ratios for the 2009 figures, and then compare them with the industry averages.
in reply to some older replies, not sure if the google idea was great lol, probably won't get marks for it because in that situation we were the accountant and we should have known it, plus it would never fly in practice.
Also (sorry forgotten who said it) if u calculated the gearing ratio wrong and it changed your opinion whether to kee pthe investment then i think u wont get the mark for the ratio but u should get some marks for explanation, even if its refering to the wrong figure.
With the calculation of gearing i also did debt over debt plus equity, where as some people did debt over equity, ive heard that they are both practically used calculations, just hope its allowed and u should get marks for both0 -
The ratios quoted in the memo were industry averages but next to the gearing ratio of 65% it mentioned Hoy Ltd's gearing ratio for 2008 as something like 78%ish... i couldnt understand why as i calculated it as 43% ish.
I knew the debt/equity ratio but not that it was an alternative to gearing..0 -
They put hte 78% next to the gearing average so you could see what method was used to calculate and when i done the 2008 gearing to check the method used i done the debt/equity X 100 and it came out at the 78% so therefore i knew to use that formula for the 2009 ratio.im not sure what every one is going on about with the gearing ratio, i thought the only ratios the client calcualted were net profit and gross profit margins. The gearing ratio in the table of what was it like 60% was the industry average, not one calcualted for the compnay for 2008.
Thats is correct, we were only ment to focus on calculating the ratios for the 2009 figures, and then compare them with the industry averages.
in reply to some older replies, not sure if the google idea was great lol, probably won't get marks for it because in that situation we were the accountant and we should have known it, plus it would never fly in practice.
Also (sorry forgotten who said it) if u calculated the gearing ratio wrong and it changed your opinion whether to kee pthe investment then i think u wont get the mark for the ratio but u should get some marks for explanation, even if its refering to the wrong figure.
With the calculation of gearing i also did debt over debt plus equity, where as some people did debt over equity, ive heard that they are both practically used calculations, just hope its allowed and u should get marks for both0 -
oh right, that was a bit sly! they could have put it in the bloody question! ah well **** happens ay, cud still get a mark, if not, its only one mark at the end of the day0
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what did people write for confidentiality?0
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pretty much saying bound to keep info confidential secure safe etc only authorised people and users should be able to use info due to sensitivity of financial and other info and about it getting into wrong hands competitors, employees etc etc
then measures i said locked cabinets that only authorised people could access, not discussing with 3rd parties, a bit about use in public places
pretty much what was in the past paper (think may have been jun 08??) i read it the night before!!!0 -
ah i saw that in the past paper but didnt pay any attention to it. But i wrote roughly along the lines of what you've said (missed a few pointers tho). Should be alrite. Thanks0
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