Financial Statements... Need a help please.
JK9194
Registered Posts: 18 New contributor 🐸
Hi everyone, i took a few gap years ago so i came back this year to complete aat level 4. I took my first exam which was financial statements so it was not competent yet. I know that i done a few mistakes so i managed to study whole chapters. i am revising for my next resit F.S exam on this tuesday. Right now, i am struggling to memorise these ias meanings and rules. I know that every exam will have one ias written question and also ias multiple choice questions.
Last thing about interpretation . I know these ratios very well but i don't know how to write up myself. (i always forget to say so i have to do waffle on these written questions.)
Do you have any good tips or methods on learning these ias and also writing up interpretation.
Regards
JK
Last thing about interpretation . I know these ratios very well but i don't know how to write up myself. (i always forget to say so i have to do waffle on these written questions.)
Do you have any good tips or methods on learning these ias and also writing up interpretation.
Regards
JK
0
Comments
-
i forget to add something about myself. i do have bad memories so everything is ok expect these ias and also writing up interpretation.0
-
Interpretation of Ratios:
* Start off by stating the obvious...the gross profit has improved from 23.2% to 26.7% (say)
* Always use an evaluating word such as improved, worsened, deteriorated, good, bad. If you say the gross profit has increased you have not shown that you understand that is a good thing.
* Look at why the change could have happened..... selling price has increased or cost of sales per unit has gone down. You can use the component parts of the formula to help you.
* Consider the question... are there clues in the question such as 'there has been an advertising campaign'
* I would plan your answer quickly first so that you give a consistent answer and do not contradict yourself.
Good Luck in the exam1 -
Thank you very much for the advice. I moved to new exam date which is on 8th July. Thanks.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 325 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 202 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership