Consolidated Income Statement

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hey Everyone,

Hope the revision is going well :D

I was just wondering how likley everyone thinks that a Consolidated Income Statement will appear on the DFS exam. All the past papers I have seen have Balance Sheets.

I will still study the Income Statement but I dont want to waste too much time on it if it is unlikley to be on the exam. It could be time spent learning the Ratios, cashflow, IAS etc..

Thanks
Andy

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    Hi, our teacher seems to think not as it is easier than the balance sheet!!!!!

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    When I did DFS, we all knew balance sheets as that was what all the past papers had in them, then they threw in an income statement. Several people hadn't practiced them for a while and failed the exam because they couldn't do them.

    Never think they won't come up!!

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    Thanks for your replies..

    Guess I will look at it. Better safe than sorry!

    Andy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    Yes I agree, but remember if we all fall down together at this I am sure they might waiver it this once only as it is the first sitting
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    I doubt that very much, it is unlikely that nobody would have prepared an income statement!! Is it really worth the risk?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    Ok you win, we only had an half hour session on this don't seem fair hey.....

    As they said it is too easy up to the bal sheet!!!!!!!!!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    It would be dangerous not to revise the income statement. You will get a proforma in your answer booklet but don't rely on the old wives tale that says the more students that fail the more the average comes down. This (I've been told from reliable sources) is nonsense. If you don't show competence you will fail.

    Just think how crap you will feel if you open the paper on the morning/afternoon of the exam and you find that the first question is an income statement which you haven't revised?!

    Sick to the stomach I would imagine.

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    Yes - I think I will look at it, I do get a little annoyed when we pay for this course ourselves and some area don't get touched at all in class...
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated Income Statement

    The reason the income statement is not taught extensively is that it is relatively easy compared to the balance sheet. If you do a couple of questions (there is one definitely in the June 04 paper as that is the one I took) then you'll have them sussed.

    Annette

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