financial Performance FAIL

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dumdum
dumdum Registered Posts: 6 New contributor 🐸
I have failed financial performance for the second time now. Don't understand how it happened as I worked really hard for this CBA.

3rd time lucky I suppose!!

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  • Shell B
    Shell B Registered Posts: 95 Regular contributor ⭐
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    Hello

    Sorry to hear about your results

    do you know which section you failed on last time???

    Shell B
  • dumdum
    dumdum Registered Posts: 6 New contributor 🐸
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    Hi Shell

    The first time round I'm pretty sure I failed on Section 2. However this time I think it was Section 1. The worrying thing is that this is the only exam I felt confident with!

    What exams are you doing?
  • pirate
    pirate Registered Posts: 469 Dedicated contributor 🦉
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    Hey dumdum (love it)

    Do you know which bits you failed on in the new standards? In the old it would say Section 1 Competent, Section 2 - Incompetent (or whatever it is for a fail)
    I heard that a lot of poeple let themselves down on the written and interpretation bits so I spent quite a bit of time making sure I truely understood the ratios and calculations and what they meant in relation to the question.

    I think under the new standards at least you can resit or do the exam again fairly quickly and not have to wait until December.

    Good luck anyway
  • dumdum
    dumdum Registered Posts: 6 New contributor 🐸
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    Hi Pirate

    Even though your results will not say what section you failed on, I just have this inkling that it was section 1. I was prepared for the report writing and variances. Thinking of appealing as I believe I had good understanding and tried to apply my knowledge.

    Do you think I should? any suggestions very much appreciated
  • Becky V
    Becky V Registered Posts: 374 Dedicated contributor 🦉
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    dumdum wrote: »
    Hi Pirate

    Even though your results will not say what section you failed on, I just have this inkling that it was section 1. I was prepared for the report writing and variances. Thinking of appealing as I believe I had good understanding and tried to apply my knowledge.

    Do you think I should? any suggestions very much appreciated

    Hi i failed my financial statements and appealed and it did help to know where i went wrong! If you dont get feedback within 20 working days (i think) the AAT will give you your money back! I have heard that some who have appealed have actually come back competent, unfortunately i wasnt one of them! Good luck :)
  • dumdum
    dumdum Registered Posts: 6 New contributor 🐸
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    Becky V wrote: »
    Hi i failed my financial statements and appealed and it did help to know where i went wrong! If you dont get feedback within 20 working days (i think) the AAT will give you your money back! I have heard that some who have appealed have actually come back competent, unfortunately i wasnt one of them! Good luck :)

    Thanks Becky

    Sorry yo hear about Financial Statements (my one is this Friday!!)

    Do they tell you exactly where you went wrong or just which section that you failed on? Also how much is it to appeal?


    Thanks in advance
  • Becky V
    Becky V Registered Posts: 374 Dedicated contributor 🦉
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    dumdum wrote: »
    Thanks Becky

    Sorry yo hear about Financial Statements (my one is this Friday!!)

    Do they tell you exactly where you went wrong or just which section that you failed on? Also how much is it to appeal?


    Thanks in advance

    It tells you which tasks you exceeded, met or did not meet.Then you can see which section you did better in. Similiar to the old standards results, but they wouldnt give me a percentage which i think is crazy!!!! The appeal is £23.
    I resat my financial statements last thursday, good luck with yours!
  • dumdum
    dumdum Registered Posts: 6 New contributor 🐸
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    Becky V wrote: »
    I resat my financial statements last thursday, good luck with yours!

    Thanks

    How was the exam is it as hard as everyone is saying!?
  • Becky V
    Becky V Registered Posts: 374 Dedicated contributor 🦉
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    dumdum wrote: »
    Thanks

    How was the exam is it as hard as everyone is saying!?

    The first time i couldnt get anything to balance! This time i did but its the writing bit i struggle with so revised like mad and just hope i have done enough!
    There seems to be so much to remember in this unit!
  • uknitty
    uknitty Registered Posts: 591 Epic contributor 🐘
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    I'm starting to get a bit anxious about this exam now ! Its going to be my first at Technican Level and under the new standards... eek !

    For my intermediate level exams I went in to the CBA's prepared and confident - I felt ready to answer most questions should they come up - but I don't even know where to start with this unit !

    I undersitand that preparation of financial statements will be a big part of the exam, so I'm reasonably happy with that part of the paper, but what type of tasks can I expect in the "free text" questions ? Its the unknown that is daunting me ! I find that I understand the proceses and how to "do" but sometimes stuggle to explain concepts (although I "get" it in my head !)

    I'm really sorry you have had a hard time with this unit DumDum - is there a particular area that you find difficult, or is it a particular style of question that is tripping you up ?
  • dumdum
    dumdum Registered Posts: 6 New contributor 🐸
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    Hi uknitty,

    I agree with you. I understand how to do the questions but I think getting it all down and applying the knowledge to different situations is where I am struggling.

    I'm revising for financial statements and there is a lot of IAS and IFRS involved


    When is your first exam?
  • uknitty
    uknitty Registered Posts: 591 Epic contributor 🐘
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    I only got my study material for Technician Stage 3 weeks ago, but my timetable says I should be looking to sit the CBE late July *ULP* I've not got anything booked yet, but I need to try and stick to the timetable reasonably closely to get the course done in a year.
  • AmyRichardson
    AmyRichardson Registered Posts: 89 Regular contributor ⭐
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    hi all

    i took my financial performance exam today and totally forgot how to treat depreciation when doing a discounted cash flow for a puchse of a machine and running costs compared to leasing the machine

    also forgt limiting factor contribution!!!!!!

    fail!
  • Dsindle
    Dsindle Registered Posts: 39 Regular contributor ⭐
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    Hi Amy

    I sat my FNPF today too, looks like we had the same sort of questions as i had limiting factors (which didnt come up in any of the practice cba's or the osborn workbook!) and discounted cash flow, which i know ive messed up on, which is quite frustrating as thats probably the easiest bit, the text for the costs in arrears tripped me up :0(

    Thankfully we did limiting factors last year, but i had to rack my brain, and i dont know if i got it right!

    Oh well, 6 weeks in limbo....,
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
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    I think there is a risk run by the student who buys the books and teaches him/her self.
    By not attending college it is very tempting to rely on the book, whereas the guidance notes and the standards are the starting point for the exams.

    I had the benefit of attending a class laid on by the AAT for lecturers where the examiner discussed the detail of the syllabus and his assessment plans, with this my students do have an advantage.
    Sadly, the number of lecturers who were in attendance and able to hear the wisdom of the examiner were few.

    Limiting Factors has most definitely been identified as a topic the examiner intends to test in the FNPF exam.

    Whatever your reason for not attending college, please remember that you will be at a disadvantage if you intend to rely on the books only. It is certainly less expensive, but it misses the extra that the lecturer can add.
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • Dsindle
    Dsindle Registered Posts: 39 Regular contributor ⭐
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    Sandy

    I do attend college and probably couldnt have got this far without it, and have done for all 3 levels, my point is, regardless of what is taught in college, the study material should have this at least mentioned somewhere, there is only so much a tutor can tell you, because when you also study in your own time to keep on top of the subject, the books accredited by the AAT should have limited factors included if it is defenately going to be part of the exam.
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