Sat Financial Statements exam but encountered problems - advice required please

geek84

Hi Folks

Earlier on today, I sat the FNST exam but encountered a few problems.

Those that have already done it would remember that the AAT give a few small tables to do your working out and there is one table for working out cost of sales. Well, taking this as an example, it seems to add up all figures that I typed in, by default ! For example, if I were to put in an opening inventory figure of £10k, purchases of £2k & closing inventory of £5k, then the cost of sales should be £7k. However, the table would give me a figure of £17k !

Has anybody else come across this problem and if so, what did you do about it?

Thank You.

Kayleighz

Hi,

Did you remember to put a - infront of the closing stick figure? If not it would automatically add it on rather than deducting it.

Kayleigh x

geek84

Hi Kay

No I didn't do that. However, I spoke to my training provider after the exam, and he said you shouldn't have to do that (put a minus sign in front of the figure) . It should take it away by default & AAT don't instruct us to do that!

peaceb4

you got to put the minus sign otherwise it will add it altogether

uknitty

If you look at the exam instructions which are the page that come up even before you click on "start assessment" it does tell you in the exam instructions that you have to enter negative figures either in brackets or with a minus sign.

Take a look at the FNST practice CBA 1 and you will see what I mean. Did you do the practice CBA's ? If so, you would have come accross this already.

How did the paper go for you this time around ? Hope it wasn't too traumatic !

Jo Clark

Hello Geek

As above and my email - you need to put the minus sign... hopefully this won't affect your results too much!

As uknitty asked, how was the paper for you this time? Did you find the theory ok after all your hard work learning the IAS's?


JC

geek84

Hi Folks

I got the feeling that I completed the paper a lot better than last time. The only think worrying me is that I've been a bit silly and not put a minus sign in front of figures, when required. As a result of this, I have put in the incorrect figures in the statements of comprehensive income & financial statements. Do you think the examiners will penalise me heavily for this, which will result in me failing the exam?

uknitty

The numerical questions are computer marked not examiner marked.

geek84

So that probably means I have failed with flying colours !!!

Spamkebab

In the Financial Statements CBA are the pro-formas already filled out for you or do you have to put in your own titles ie. revenue, income etc.?

Jo Clark

Hello Spamkebab

From memory, you need to select from a drop down menu 'titles/headings' for the workings you complete. I think the main statements are already set up for you but it has been a while since I sat FNST so can't be sure! Why not have a look at the practice CBA on the AAT website?

Good luck!


JC

salih

if you done the pratice papers online in the answer aswell it shows a minus sign and it says before you start the exam to put a minus sign Also i had a encountered a problem on one of my personal tax exam while i was doing it a question comes up but it wasnt a tax question it was question from the financial preformance paper

janwal

Spamkebab wrote: »

In the Financial Statements CBA are the pro-formas already filled out for you or do you have to put in your own titles ie. revenue, income etc.?

Jo is right I sat mine 4 weeks ago and they are drop down boxes to choose the layouts

geek84

Hi Folks

Thanks for all your replies.

Just to let you know, I have passed the FNST exam.

Dahir Ahmed

Hi Geek84
Congratulations. They marked yours in 4 weeks. Now that's quick. It's been a week since I sat mine and I can't wait.

janwal

Congratulations in passing FNST:thumbup: , not fair you sat yours after me and I'm still waiting for result