DFS

13

Comments

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    Helen Jackson wrote:
    Can you remember how you got to 7148?

    I did Profit x
    + Depreciation x

    Inventories were up (x)
    Trade Rec were up (x)
    Trade pay were down (x)

    Less tax (x)
    Less Interest (x)

    =

    Did you had back your loss on diposal ???
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Now I know where I went wrong - I deducted my tax and interest and you added it on in the cash book - everything else I did was the same as you did it.

    I am sure you will be fine with the impairment deduction - it seems half the people on the forum did calculate impairment against goodwill and the other half didnt. I did impair my goodwill.

    Fingers crossed for February 20th

    Yes I did add back the loss on disposal but I wasnt convinced this was correct.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Sorry i meant to put less tax and interest. I did actually less them in the exam.

    The bit that was confusing was the loss on disposal.

    you had to add that in both the first part for the loss and add it in the second part for the disposal.

    Dreading results day. Only have this one to pass then I done!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Oh I have no idea where I went wrong then.

    My last exam too & project completed. I have already signed up to commence ACCA in March 07 so hopefully I will have passed.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i deducted tax, interest & added back loss and mine balanced.

    did you put the correct answer in the cashflow ? bfwd & cfwd cash balances ?

    if you did you will be fine.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Yes I put the bfwd and cfwd balances in the cashbook so just hoping its enough & on top of answering the IAS36 question about impairment not very well I was getting a little worried.

    Cheers everyone
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Do you have any idea the % you need in each section to pass?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I study at FTC in Leeds and we have been given the guide of 70% in Section 1 and 70% in Section 2
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I do home study so didnรขโ‚ฌโ„ขt have a clue. I sat my exam at FTC leeds though.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    What desk number were you on - I was on 26 - can't believe someone finished in an hour!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Really? I didnรขโ‚ฌโ„ขt even realise. I was on desk 9. I left at 12.30 so I cut it fine in finshing!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Anyway done now and hope you pass - I am sure you will have.

    Take care

    Helen
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    thanks

    good luck with yours
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I am someone else who didn't deduct the impairment because it said on acquisition, but I did calculate it in my workings just in case!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    what did you say about the overall performance of the company in the ratios question?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I stated that the company was generating more revenue with less assets which was more efficient but the increase in expenses was showing bad profit margins.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    we havent been taught to be anywhere near that specific, oops
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I have probably got that wrong then. oh well !!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    I think you have probably done it right, I won't have analysed enough!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    thats what i put! i had learnt the definations for assets, liabilities and equity too!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    WHAT DID ANYONE ELSE PUT IN THE RATIO ANALYSIS?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i waffled but filled all tha pages for the letter, failed on section 2 1st time!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Can anyone remember the profit on question one income statement??????
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    i think i had something like 31903?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    this time I can't remember my figures, there must have been too many!!! lol
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    DANCING DIVVA wrote:
    Can anyone remember the profit on question one income statement??????

    Mine came to 16k something.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Did you balance?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS

    Section 2 - i had a reduction in return on capital employed and net profit, with an increase in gross profit - Does that sound about right? As for net asset turnover linked with capital employed, i cant find it anywhere in our osborne books, so a bit hard to clarify.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    ***Kay*** wrote:
    It said goodwill on acq so don't think we were meant to tske off the impairment loss.

    yes we should not take off the impairment to arrive at goodwill at acquisition but we need to take it out of the retained earnings which is the third question i think...
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:DFS
    Leeann wrote:
    Did you balance?

    Unfortunately not. Think my retained earnings were worked out wrong as a lot of people have mentioned 43k for the net assets, which is what I got, but I got 55k for my equity.

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