DFS Sample Revision Question

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
As promised, I have posted a sample question concerning consolidated balance sheets on the http://groups.msn.com.AATTechnician website.

Regards
Steve

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    http://groups.msn.com/AATTechnician

    Just to amend the website address above!

    Amanda
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Hi Steve,
    I've looked at the question you've provided and am now feeling slightly worried!
    Having worked through the Osbourne book for DFS, there was nothing in the Consolidated accounts chapter on items in transit, and I was pretty clueless about it in your question! ( not that I was much better at the unrealised profit :-/ ) Unless I've managed to miss part of the chapter, which is possible.....
    Is this likely to come up in the exam do you think??

    Thanks,
    Miny
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    I have to admit I agree with you. Until I saw the question I was quite confident about Consolidation questions, but if a question like that came up I'm not sure I would be able to do it.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    The question concerned dealt with a company who had already acquired a subsidiary a long time ago. The key consolidation techniques included the consolidation process itself, calculation of minority interests, the goodwill calculation, the reserves carried forward calculation and the elimination of intra-group company balances i.e. cash in transit and unrealised profit on the sale of goods to an inter-group company. These are all key consolidation techniques which are in the DFS syllabus. You will feel comfortable with consolidation techniques but you may have struggled with the "approach" the question took.

    I would STRESS that if you got some parts of the question wrong, don't do yourself any injustice - you will not get 100% right on any question in any exam. A question like this may not come up on the exam (but it is highly probable that you will be asked for a consolidated balance sheet/profit and loss). I have said before that in my opinion (bear in mind I am not an examiner) because the consolidation process did not feature that heavily in June 2005 it is likely that it may feature heavily in December 2005. I do not, however, advise on "question spotting". Consolidations may not come up at all but, realistically, I don't think that will happen considering group accounting feature quite heavily on the syllabus.

    I apologise if the question has knocked anybody's confidence a bit but it does go to re-iterate that you have got to attempt a broad range of examination style questions which approach different parts of the syllabus in different ways.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Hi

    I would like to be able to download this question, I have justregistered for the msntechnician group but it says I have to await approval. Can somebody approve me please?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Hi Steve,
    Thanks for that.
    I actually did ok in the question, it turned out I got all the calculations and figures right APART from the item in Transit.
    I have looked through the Osbourne book again and still can't see any information on items in transit, and I don't know where i'm going to learn about it now with under a week to go, so I guess i'll just pray!!
    Thanks again.
    miny
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Hi steve

    I have tried accessing the question on the msn group, but for some reason it says the page has been removed. Is it at all possible you could email me a copy.

    email address jones_vikki@yahoo.co.uk

    Many thanks in advance

    Vik
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Could you please e-mail me the sample revision question.

    My e-mail addresse is Christelwells@aol.com
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    I can't seem to access your question, would you mind e-mailing it to me please?
    It's eyoung@twe.org.uk.
    Much appreciated!

    Edith
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    can someone please email me the sample question. My email address is Cjamieson76@hotmail.com

    Thanks

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS Sample Revision Question

    Can somebody please email me the sample question, my email is deviskelly@blueyonder.co.uk

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