Financial Statements...overwhelmed

Clarekaye

I am working my way through Financial Statements and I am just getting myself down I am not getting it.
Cash flow statements go back to using T accounts and I worked it all out wrong,
Statements of Income and SFP I just about sussed but now I have forgotten, am I ever going to remember how to work these things out :crying:

janwal

HI Clare

I can sympathise with you, it is such a large subject. I can't say if you ever remember it all. I have to start again to learn it as I didn't manage to pass last time.

Percivere I'm sure you'll get there.

Good luck

Jan

Clarekaye

Thanks. Sorry to hear you didn't pass.
I thought if I try and break everything down into little sections it may be easier to remember but I still manage to blur it into one.
Does anyone have any tips?
Thank you

Steve Collings

Hi,

Sorry to hear you are struggling with FNST.

This article that I wrote may help focus your mind. I used to teach the old DFS so I became very familiar with the pitfalls students used to fall into so it might help you and gain some insight as to what the AAT are particularly looking for in students sitting this exam.

Keep practising each area helps a great deal, especially with the primary statements.

I hope it helps you.

Good luck
Steve

kewko

Hi,

I sat FNST before the Easter break. I think that for cash flow statements the best thing is to think 'where is the money going'. For revision, I found the best thing to do is go through all the content on the AAT website (esp the practice papers as they are the same as the exam, found no surprises). For studying the statements just keep doing practice ones over and over and doing lots of colour coded notes to help you see where the values are going.

Hope it helps

Good luck
Jason