Financial Statements - HELP!!!!!!!! please

louisethomson Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
I am due to sit FNST next week I have put this exam off for nearly two years now, I would appreciate any tips any one has that might help me. Also has anyone sat the exam recently and can advise what IAS's they had?



  • Hananza33
    Hananza33 Registered Posts: 5 Regular contributor ⭐ 😼 ⭐
    Hi Louise,

    I took the Financial Statements exam 5 weeks ago, still waiting for results though.

    I would advise that you do as many practice exams as possible. There's four you can do online and depending on what book you have, I had six in my BPP workbook.

    Most people in my class all had the same exam! Except for a couple who had a really hard exam which included a provision in the financial statements which wasn't straight forward at all.

    My advise would be not to concentrate too much on the IAS's as there was only one written question about these in section one which really you only needed to write a couple of sentances. Concentrate on the Financial Statements and make sure you are 100% comfortable with them. Also, concentrate on the variances. We didn't have much time in class to study these so had to rush them and put in a lot of work at home to remeber the equation and understand what each one means. These are a HUGE part of section 2!

    I don't know what else your studying but we've just started Financial Performance and the variances are also in this exam (along with several more!) so it is worth getting your head around now.

    Hope this helps and good luck.

  • billdoor
    billdoor Registered Posts: 129 🎆 🐘 🎆
    I would echo most of Hananza's advice regarding practice exams and the financial statements.

    But I wouldn't say not to concentrate too much on the IAS's - if you look at Practice CBT 1 on the AAT website, it has 5 different IAS questions, one of which is written. You may only get 1 or 2 in your exam but you don't want to be left stuck for the answers.

    Good luck next week:)
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