Financial Statements - Ratios/IAS's

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lhwood
lhwood Registered Posts: 5 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hi, what are the main ratios which should be learnt for the financial statements exam? Also any tips on a good way to remember the IAS's im struggling to remember them

Thanks.

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  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    Hi,

    As I used to say to students when I used to teach the old DFS paper - you must learn all the examinable ones! Do not just learn the "main" ones especially with the new FNST and its apparent "unpredictability" which seems to be catching a lot of students out. Err on the side of caution and get a sound understanding of them all.

    Again with the IFRSs/IASs, learn the main content of each one that is examinable (note, not all of them are examinable). Spending, say, a day practising questions wholly on accounting standards (though not at the detriment of the rest of the syllabus) is a good way of getting a sound grasp of what each standard says. Also, refer to the syllabus and see the ways in which each IAS/IFRS can be tested (not all of them require numeric calculations/discussion).

    Kind regards
    Steve

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