FSCL exam in 6 weeks

Sassy1208

Hi, I just started Level 4 (had a 5 years break after level 3) and FSCL statement is in 6 weeks. I find the unit so hard and difficult and I don't know how and where to start. To be honest I struggle everywhere from statements to written part. Does anyone got an idea how to start revise

thelowendtheory18

I sat this exam earlier this month (and am awaiting the result)

I started studying for this exam as soon as I received my result for the level 3 synoptic so a lot of the advanced Bookkeeping was fresh in my mind which helped ( it may be a good idea to revist adv Bookkeeping and final accounts prep from level 3)

You've got to spend time familiarising yourself with key definitions of asset/liabilities/equity/income/expense

in addition to this you need to understand the definitions impairment and how to calculate the recoverable value of an asset

Also what the 3 criteria's are for posting provisions

It's a lot to learn to be honest and you need to give yourself enough time to take it all in (Ive not even mentioned consolidated financial statements / ratios / contingent assets/liabilities )

I would start with understanding the formats of financial statements for limited companies if i were you

Good luck!!!!!

Sassy1208

Thank you so much for your reply ? I hope you passed the exam finger's crossed. Well, I was thinking I'm starting with the written part of exam and all the IAS there is about 13 you have to know. And then do the statements etc.. Thanks for your tips ?

thelowendtheory18

Yh..that sounds like a good plan!