Fnst resit after i have Passed Credit Management Part 1

nicd1981

Just have a weeks wait for part 2!
Then Ptx Tuesday , and then a resit for Financial statements.
Not even going to look at financial statements until ive sat the tax exam but was wandering if anyone has any ideas how i can get my head around the adjustments for the consolidated SOFP and income statement. I couldn't get these last time i sat the exam and dont want to waste lots of time on this question again.
Any ideas on books or websites which may help would be greatly appreciated



Nicola xx

Morpheus1980

Hi Nicola. I've found the Kaplan combined text and workbook to be invaluable in helping me to figure out the Consolidated accounts (SOFP and income statement). There's a chapter on both, and it takes you through all of the necessary workings and adjustments. I think I read somewhere on the forums that the Osbourne book doesn't have that level of detail.

Is it just the consolidated statements that you're having trouble with?

nicd1981

Thanks Morpheous,

I will definitely buy that book, I need to go back to basics with this subject.

I struggled with it all to be honest, but that's down to personal stuff I've had going on.

I feel like im back on track now, but last time i tried to study for fnst i frustrated myself with this question, and because of the negative thinking telling myself i couldn't do it, I failed!

I've decided to concentrate on learning just this until its stuck and then ill worry about everything else

I found the cash flow statements easy, and pretty much had an ok idea about the standards, except for the question on bargain purchase which i had never seen before until the exam.

But as i said earlier i am not even going to start studying fnst again until i have sat the tax exam on Tuesday.

How are you getting on?

Nicola xx