pcr/pev

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
does any one know what terminology we should use for the pev/pcr exams. I was just wondering if we should refer to stock as inventories, businesses as entities, fixed assets as non current assets.as these exams involve ratios etc. if not what would the aat do if we put the new terminology into practice by accident in these exams. would we loose marks? its a bit tricky when you are taking pev, pcr, and dfs in june.
can anyone help please?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:pcr/pev

    See my answer below
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:pcr/pev

    Hi
    I am sitting the PCR and PEV next week, what I'll do is to see the terms utilised by the examiner on the exam's paper and I'll use the same. I mean if the examiner uses the term stocks in the balance sheet, I'll use same term when calculating my ratio.
    I hope this helps.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:pcr/pev

    Thanks

    good advice always useful, lets hope someone from the AAT replies to this thread.

    good luck in the exams
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:pcr/pev

    The examiner will use the old terminology in PEV but not mark anyone down who uses the IFRS terminology in the appropriate places

    PCR doesn't test ratio analysis in that way
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:pcr/pev

    thanks sandy I appreciate all the help and advice you have given to myself and other students. its been a good learning experience reading your constructive replies.

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