Why do the AAT practice exams round decimals down?

Makkusu
Makkusu Registered Posts: 94 Regular contributor ⭐
in General discussion
I'm doing some Financial Statements practice exams and noticed they always round .5 downwards. I've always been taught to round .5 up? This was specifically on the ratios and it didn't state whether to round up or down.

Would you lose out on a mark because my answers look different from theirs now. :S

Comments

  • Sailorgirl
    Sailorgirl Registered Posts: 40 Regular contributor ⭐
    This is a good question and I wish I knew the answer, because I have Financial Planning exam on Thursday morning. I too was always taught to round up, so I am hoping they give an indication at the start of the exam.
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    The computer programme will accept either round up or round down.
    Are you trying to be too precise?
    In your accountancy work (not your school or college life) has either 13% or 14% proven significant?

    I know school mathematics will be concerned about 13.5% being rounded to 14%, but in accountancy how often is it genuinely very important.
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • Makkusu
    Makkusu Registered Posts: 94 Regular contributor ⭐
    A belated thank you Sandy! :)

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