Today's DFS Paper Exam

sjs22

Hi Everyone
Just wondering if anyone else here sat the DFS paper exam this morning and if so how did you find it ???

I think I have done ok (fingers crossed!!) on the tasks I completed although I am worried as I did not complete the following tasks:

Task 1.3 - PPE Definitions etc
Task 1.5 - more explanation although I cannot remember what of!
Final tasks 2.2 & 2.3 ? - I think it was about the framework/standards?

If the rest of the paper was ok do you think I have done enough to pass??
Trying not to worry as there is nothing I can do now!

Would be good to hear how you found it

Sheran

Dfs

Hi
I took the paper today as well, they were asking about IAS 36 and I couldnt remember all the details, couldnt get my cash flow reconcilliation to work and the consolidiated statement of FP wouldnt agree, dont know if that is a fail?
How did anyone else find the paper?

sdeabill

dfs

hi,

I also sat the DFS exam, and i also could not the SFP or Cash flow ro balance, i do not think that it is a fail just because you havent balanced, i just made a not on the bootom of my SFP to state that i knew that the total asset, and (equit and liabilities should total).

i had major trouble with PPE, i couldnt rember i knew i had to remove the nbv, but that about it, so i just had all the other figures i hope and then put the differeance to ppe, it was about £15308, somthing like that, but could not work out were this come from.

anyway all the best to you who have done, or still to exams, i have my last PCR exam tomorrow i am really hope 4th time likey. ( silly reason, running out of time, then the snow last year, so mind was relly with it.

Henry

Wrote DFS today as well. Like some of you couldn't get the consolidated SOFP to balance nor the Cash Flow to reconcile to the cash balance but this does not mean a failure. You can still get most of the marks for the question as the balancing could be down to a small error (transcription etc). Fingers crossed this will be my last exam at this level. Good luck to all.

Primble

i had it too. on the cons sofp i new i had to deduct 2 figures but went blank as to why. they were still deducted in my workings in the hopw it might gain some credit. didn't balance but hope i done enough. feel ok. better have passed, is my last one

purple19m

Hi i sat the dfs paper this morning and thought it went quite went well.

I got both the SOFP's to balance, made a really stupid mistake on the consolidated and used the group share capital to calculate goodwill, don't know why I've never done it before, exam stress maybe!! I luckily scratched my head for a while and realised my mistake and recalculated the goodwill and then corrected my SOFP! How silly do i feel but least i got it right in the end even if my paper looks messy.

For some reason my cashflow statement was out by £2, i went through the whole thing four times and still had a difference of £2! I mean i practiced so much i actually have no idea what i done wrong, it was doing my head in sitting there. But i put all the workings so guess i will have to wait until the answers come out to find out that mystery! I think the net was 1220 that i had, and it was -297 at year start and 925 at the end, so £2 out!

Section 2 i put that she should invest, but made comments that they were paying trade payables to quickly and that trade recievables need to be collected quicker but as the investor was worried about risk, i went with the lower gearing to make the final decision.

I think i answered most of the questions ok, so i feel fairly confident, but that cashflow statement £2 was so irritating, it still is now!!

Primble

purple19m wrote: »

Hi i sat the dfs paper this morning and thought it went quite went well.

I got both the SOFP's to balance, made a really stupid mistake on the consolidated and used the group share capital to calculate goodwill, don't know why I've never done it before, exam stress maybe!! I luckily scratched my head for a while and realised my mistake and recalculated the goodwill and then corrected my SOFP! How silly do i feel but least i got it right in the end even if my paper looks messy.

For some reason my cashflow statement was out by £2, i went through the whole thing four times and still had a difference of £2! I mean i practiced so much i actually have no idea what i done wrong, it was doing my head in sitting there. But i put all the workings so guess i will have to wait until the answers come out to find out that mystery! I think the net was 1220 that i had, and it was -297 at year start and 925 at the end, so £2 out!

Section 2 i put that she should invest, but made comments that they were paying trade payables to quickly and that trade recievables need to be collected quicker but as the investor was worried about risk, i went with the lower gearing to make the final decision.

I think i answered most of the questions ok, so i feel fairly confident, but that cashflow statement £2 was so irritating, it still is now!!

woo i said to invest and mentioned those points when talking about results

sjs22

purple19m wrote: »

Hi i sat the dfs paper this morning and thought it went quite went well.

I got both the SOFP's to balance, made a really stupid mistake on the consolidated and used the group share capital to calculate goodwill, don't know why I've never done it before, exam stress maybe!! I luckily scratched my head for a while and realised my mistake and recalculated the goodwill and then corrected my SOFP! How silly do i feel but least i got it right in the end even if my paper looks messy.

For some reason my cashflow statement was out by £2, i went through the whole thing four times and still had a difference of £2! I mean i practiced so much i actually have no idea what i done wrong, it was doing my head in sitting there. But i put all the workings so guess i will have to wait until the answers come out to find out that mystery! I think the net was 1220 that i had, and it was -297 at year start and 925 at the end, so £2 out!

Section 2 i put that she should invest, but made comments that they were paying trade payables to quickly and that trade recievables need to be collected quicker but as the investor was worried about risk, i went with the lower gearing to make the final decision.

I think i answered most of the questions ok, so i feel fairly confident, but that cashflow statement £2 was so irritating, it still is now!!

Hiya,
I put that the net was £1222, that could be where your £2 difference is coming from?

Previous Balance was £-297
Current Year Balance was £925
Therefore movement was £1222 ?

I hope so anyway as I think that is what I put!

purple19m

Well I had (21365) i think or something like that for investing net and 11500? for financing net so i either made a mistake on the investing or the operating profit, i would probably had figured out my error if i'd totally missed something out, but £2!So annoying, i assume i made an error in the calculations somewhere, although i did go over it a few times but obviously made the same error over and over!! Oh well at least i showed my working and entered all the figures! And i did try my best i stayed in there until the end trying to balance it.

Does anyone else feel exhausted after exams? I feel so tired....early night is needed!

sjs22

I'm the same, sooo tired from all this last minute cramming! Third and final exam tomorrow - PCR - can't wait until it's over!

Good luck everyone with your DFS results

gangstara

well none of my statements balanced i tried and tried but cldnt get them to balance....but i hv hope think i hv passed cause i did everything i knew was right