Help on Financial Statement please ???

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


  • Adele69Adele69 CambridgeAAT Student Posts: 310
    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
  • hal978hal978 LondonRegistered Posts: 88
    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.
    AAT Affiliate (2018):
    AQ2013 Level 4 Diploma (June-Nov 2017):
    Financial Statements - 92% | Budgeting - 78%
    Financial Performance - 88% | Personal Tax - 93%

    AQ2016 Professional Diploma (Dec 2017 - Jan 2018):
    External Auditing - 86% | Synoptic Assessment - 70%
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