Financial statements

sarah2266 Registered Posts: 49 Epic contributor 🐘
HI all.

Financial statements is my last exam and i am debating as to whether i can study it all
in three weeks....the reason being i go on holiday at the end of june and then i start work..
i am currently not working so can devote the time...just wondering if anyone has managed to
complete this section in a short time scale...i have managed to complete financial
performance and the tax ones within a month each..
any thoughts



  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
    6 weeks for me but I was working full time as well.

    I guess it depends on your determination and ability to retain the large volume of knowledge required for this module.
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • emmanorm11
    emmanorm11 Registered Posts: 3 New contributor 🐸
    I started working on FNST about 4 weeks ago, but can only devote one day a week to it. I'm currently on mat leave, but have a 19 week old distracting me greatly. Biggest issue for me is the amount of information that you need to retain in order to get through it, as Jo Clark said there is an awful lot of information. Currently struggling remembering/applying the different accounting standards to the statements which is a major part of this. Financial Accounting isn't my strong suit, I am more suited to the management accounting side. But as my tutor said, if you are confident with double entry, and have a cracking memory you should be able to get through it. Good Luck :001_smile:
  • Clintm15
    Clintm15 Registered Posts: 248 Dedicated contributor 🦉
    Hi Sarah,

    I completed FNST with 10 days revision. I was comfortable with many aspects of financial statements beforehand. I just had to learn some calculations and the IAS/IFRS's.

    So I would say it depends how comfortable you are. Maybe do a quick scan of your revision texts to gauge how big of a task it will be for you.
    Level 2 - 2011
    Level 3 - 2012
    Level 4 - 2013

    F4 - Corporate Law - Dec 2015 (passed)
    F5 - Performance Management - Dec 2014 (passed)
    F6 - Taxation - Dec 2013 (passed)
    F7 - Financial Reporting - Jun 2014 (passed)
    F8 - Audit & Assurance - Dec 2015 (passed)
    F9 - Financial Management - Jun 2015 (passed)
  • Clarekaye
    Clarekaye Registered Posts: 307
    Difficult to say.Its my first level 4 and I started slowly in March few hrs a week and been doing 26 hrs per week for the last 3 weeks perfecting things like cash flow and consolidated accounts, I could have done my exam weeks ago but knew in my head I hadnt done enough to be happy in myself to have everything covered.
    I got stuck on one thing and that took up a few hours, mocks take up a few then last min revision for exam next week is on my agenda.
    As above really, take a look and see how confident you feel :)
  • eek
    eek Registered Posts: 31 Epic contributor 🐘
    If you have struggled with any of the previous modules then you probably shouldnt rush into this one given that it is the hardest one to pass.
  • sarah2266
    sarah2266 Registered Posts: 49 Epic contributor 🐘
    thanks for your thoughts...

    i have already made a start on the text so will continue and then make a decision middle of next far
    all the other modules have been ok and just passed personal tax and my ICAS project...just sat business tax today
    which i have done in 4 weeks whilst doing ICAS as would just be nice to have it all out of the way
    for my holiday otherwise i will be tempted to take my books with me..

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