FRA Exam Tomorrow
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Hi Guys,
As I have put a "final tip" recommendation for those studying DFS - here's my similar tips for FRA. If you're asked for a profit and loss/balance sheet don't forget to head the profit and loss account up "for the year ended" and/or the balance sheet "as at the year end" - that's a mark!! Also, if you have to do any workings on the financial statements, show them on a separate page - don't try including workings in the main body of the profit and loss/balance sheet. With regards to FRS's SSAPs etc nobody can remember these in intricate detail - you will only need to take the basic knowledge of these in to the exam. tomorrow morning, quickly skim through the main ones and the one's your learning centre has "tipped".
Be neat and more importantly SHOW THE EXAMINER YOUR WORKINGS. they cannot give credit for an incorrect answer if they don't know how you have arrived at the figures.
If ratios comes up you may be asked for a report/memo/letter - do what the examiner says - you will get a mark just for simply doing a report (if asked for one). Also, show any workings for ratios as an appendix. Comment on them in the main body of the report and cross reference to the appendix.
Good luck for tomorrow, and let me know what comes up.
Steve
As I have put a "final tip" recommendation for those studying DFS - here's my similar tips for FRA. If you're asked for a profit and loss/balance sheet don't forget to head the profit and loss account up "for the year ended" and/or the balance sheet "as at the year end" - that's a mark!! Also, if you have to do any workings on the financial statements, show them on a separate page - don't try including workings in the main body of the profit and loss/balance sheet. With regards to FRS's SSAPs etc nobody can remember these in intricate detail - you will only need to take the basic knowledge of these in to the exam. tomorrow morning, quickly skim through the main ones and the one's your learning centre has "tipped".
Be neat and more importantly SHOW THE EXAMINER YOUR WORKINGS. they cannot give credit for an incorrect answer if they don't know how you have arrived at the figures.
If ratios comes up you may be asked for a report/memo/letter - do what the examiner says - you will get a mark just for simply doing a report (if asked for one). Also, show any workings for ratios as an appendix. Comment on them in the main body of the report and cross reference to the appendix.
Good luck for tomorrow, and let me know what comes up.
Steve
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Comments
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Re:FRA Exam Tomorrow
Thanks for the Steve, have taken notes and am glad you reminded me about the P&L wording as I nearly always forget !
Time to write some more study notes I think ...0 -
Re:FRA Exam Tomorrow
Good Morning Steve,
I am so glad you are putting tips on here, everytime I read them it makes me feel calmer and less panicky, you are being a great help to us distant learners, we don't get any tips on what may come up in the exam....
Many thanks
Mandy
PS, Good luck to everyone today doing the FRA exam. Especially good luck to the "oldies" like me, why did I believe that life begins at 40............!0 -
Re:FRA Exam Tomorrow
As this the first exam I have done since leaving school (a while ago now!), I am getting rather nervous now! Don't know what to expect, how I will manage etc, and then there's the revision!! All this on top of a sore throat and general run down feeling!!
Apart from pens, pencils, ruler and calculator, do I need anything else with me??
Can we take in sweets or drinks at all?0 -
Re:FRA Exam Tomorrow
Dunno about sweets, but I always take a bottle of water with me, don't forget to take your passport and AAT membership number. I always take an extra pen, as you know one will run out, and an eraser as with things like ETB's I like to write them in pencil first so I know I've done it right then go over in pen and rub out the pencil, I find it saves crossing things out in pen as this can look messy.
Good luck everyone!
Michele0