Help on Financial Statement please ???

Pjdav Registered Posts: 27
I have my Finanical Statements exam
On the 17th July, does anyone have any tips that would help? Especially a easier way of remembering definitions so as assets income revenue and so on ...??? Thank you


  • Adele69
    Adele69 Registered Posts: 320
    I wrote them out on cards over 3-5 lines, one element on each side; and worked on initially understanding and remembering Assets and Liabilities. Don't skip the written parts of questions when doing practice questions, usually a good chance to pick up how much, and how close to a definition you are getting, then go back over the bits that need correction.

    It's a bit late in the day to memorise them all from scratch. If you can't remember then, a bit like the Feynmann technique, look it up on youtube, work on understanding and being able to explain what each are in simple easy to understand terms.

    I wouldn't worry too much. If you have made progress on the IAS, and have the calculations down. I sat this in January, ran out of time on the last written question that I barely started, probably lost 15-20 marks and still managed to pass
  • hal978
    hal978 Registered Posts: 197 Dedicated contributor 🦉
    I used a flowchart to learn the definitions, and then had a blank one that I filled in to test my knowledge. I sent you those files by private message.

    The only drawback is I used an A3 printer to print these. I haven't tried printing them on A4 so don't know how they will look.
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