Has anyone got any tips for the professional synoptic? AQ2016?

AIB98

I'm struggling to see what content will be there relating to the Financial Statements of Limited Companies.
I understand that financial ratios will be on there but can anyone confirm if group accounts/cash flows/accounting for liabilities as I don't want to go over that again?

If need be, I will, but I'm trying to structure the revision to make it more efficient.

Thanks

NataliaBobrova

Hi @AIB98,
I'm at the same boat - preparing myself for AQ2016 synoptic. As far as I can see from examiner report, assessment guide from my text book and having looked through mocks and a couple of preparation guide videos on the YouTube, the scope of synoptic relating to FSLC is mostly around ratio calculations and analysis. However, we should be able to "assess the impact of internal controls on reported profit, financial position, cash flow statements and KPIs". I suppose, we are not expected to draft cash flow statement or make liability adjustments for BS, but to understand relationship between cash and profit and be able to explain it.
Another part of FSLC outcomes included into synoptic is professional ethics, knowing you ethical principles, threats and safeguards. I believe, that's all relating to financial statements.
There is a good video from First Intuition where Nick Craggs gave a quick briefs on how to pass level 4 synoptic. Couple of very good points to have in mind, he covered the scope of questions as well. https://youtube.com/watch?v=TFK8eACPz9Y

do you know when you sit your assessment?

AIB98

Hi Natalia,

This is just what I need, thank you very much! And good luck! Hope to hear the good news in 6 weeks

My assessment is on the 24th of September, how about you?

NataliaBobrova

Hi,
Wow, that's pretty soon! I haven't booked mine yet, planning for November. My best wishes and good luck! Give a shout when you finish it. It's useful to hear what do you think about it afterwards

AIB98

Hey,

Yeah, pretty soon, looking to get this done and get out the way, will be sure to give an update on the exam and the result in the following 6 weeks

AIB98

Hey Natalia,

Just giving you an update, finally got the result and I passed with 76%, fully MAAT now

NataliaBobrova

Congratulation!!! Your hard work have paid off! Time to celebrate
After second consideration I decided to sit my 2nd optional unit and move to QA22)