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  • Raet8
    Raet8 Registered Posts: 12 New contributor 🐸
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    I wrote
    Assets
    Liabilties
    Equity
    Income
    Expenses
    I didnt write the equation and then for b I wrote the definitions for the first three:confused1:
  • tiny tina
    tiny tina Registered Posts: 14 New contributor 🐸
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    opps i got something like 4400
  • LouLou143
    LouLou143 Registered Posts: 74 Regular contributor ⭐
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    sebastianforbes wrote: »
    i said that the elements were...

    assets
    expenses
    income
    liabilities
    equity

    Yup they are the elements....they asset-liabilities=equity bit is relevant to the last question when it asked you to discuss the balance sheet
  • karenv
    karenv Registered Posts: 114 Dedicated contributor 🦉
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    Seem to remember £7200 ish for cash flow from operations
  • tiny tina
    tiny tina Registered Posts: 14 New contributor 🐸
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    what did everyone put for the delevopment question after the consolidated balance sheet?
  • karenv
    karenv Registered Posts: 114 Dedicated contributor 🦉
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    There would have to be probable cash inflow as a result and the asset would have to be able to be reliably measured or something to that effect.
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
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    I thought it was a decrease in receivables and payables??

    For the development intangibles part i said -

    Probale use or sale
    Intention to use or sell
    Resources adequate for use or sell
    Ability to use or sell
    Technial feasibility for use or sell
    Expenses measured reliably

    Or something like that - I remembered the PIRATE thing!!!
  • Foxy Brown
    Foxy Brown Registered Posts: 5 New contributor 🐸
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    Yeah i got aroung 7k for cashflow & got the 5 elements correct & put in a relatively good explanation for them as I'd only looked at that particular question 1st thing this morning hoping it would come up & it did!!! I hope this makes up for my consolidation!!!
  • sebastianforbes
    sebastianforbes Registered Posts: 172 Dedicated contributor 🦉
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    no point fretting about any figures or results

    they are all inter-dependant...

    so they either balance up, or they don't !
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
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    I think i got £11,000 something as i think i might have added in the profit from operations as well.......oops!
  • Mini-Man
    Mini-Man Registered Posts: 24 New contributor 🐸
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    mehmet wrote: »
    The elements actually are:
    Income,
    Expenses,
    Assets,
    Liabilities, and
    Equity.

    In part b) you had to give the Framework definition for assets, liabilities and equity.

    I'd be surprised if getting this(or any of the other short answer questions for that matter) would fail your exam. You do have to attempt them, and I suppose getting them right gives you extra marks to go against any you lost in the major questions.


    Aye, Me too put those down reciting the whole economic inflow/outflow due to past events spiel at the same time. I recited this to myself as I left home this morning and my eyes lit up when I saw it.

    This might get me past my Ratio dilema that I have had today with 2 incorrectly calculated ratios.

    These questions are never easy to predict what you will get, relieved about all the written questions for that matter as they were used previously within my practice paper study period !!!

    I am starting to feel much better now !!
  • tiny tina
    tiny tina Registered Posts: 14 New contributor 🐸
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    what was everyones balance sheet figure?
  • LouLou143
    LouLou143 Registered Posts: 74 Regular contributor ⭐
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    confused!! wrote: »
    I thought it was a decrease in receivables and payables??

    For the development intangibles part i said -

    Probale use or sale
    Intention to use or sell
    Resources adequate for use or sell
    Ability to use or sell
    Technial feasibility for use or sell
    Expenses measured reliably

    Or something like that - I remembered the PIRATE thing!!!


    Woo hoo remembered it!!!

    I can't remember but it balanced back....so something was right!!! Actually yeah it was a decrease in receivables which is why you add on.
  • Mini-Man
    Mini-Man Registered Posts: 24 New contributor 🐸
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    Raet8 wrote: »
    I wrote
    Assets
    Liabilties
    Equity
    Income
    Expenses
    I didnt write the equation and then for b I wrote the definitions for the first three:confused1:


    Thats right as I remember it asking for only the Balance sheet elements.

    You are perfectly fine:thumbup1:
  • >Michaela<
    >Michaela< Registered Posts: 37 Regular contributor ⭐
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    Oops, I forgot about a cash flow statement being in the financial statements, never mind.
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
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    In section 2 did you advice to invest or not?? I said yes!!
  • kyle1
    kyle1 Registered Posts: 31 Regular contributor ⭐
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    think mine roughly came out at 94000 take it you are referring to the consolidated banlance sheet?
  • tiny tina
    tiny tina Registered Posts: 14 New contributor 🐸
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    yeah i put something along them lines
  • kyle1
    kyle1 Registered Posts: 31 Regular contributor ⭐
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    i said no as the company was heavily financed and the return on equity was reducing??
  • lorraine
    lorraine Registered Posts: 404 Dedicated contributor 🦉
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    I put that i wouldnt invest
  • Mini-Man
    Mini-Man Registered Posts: 24 New contributor 🐸
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    confused!! wrote: »
    In section 2 did you advice to invest or not?? I said yes!!

    Obviously based on my figures (I got two ratios incorrect anyway!) I advised not to invest as the profit margins were deterioating between 2007 and 2008.

    You might well be right if you calculated your ratios correctly to base your decision on, I did not to my upmost annoyance !!!!!:001_smile:
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
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    Re the consolidated I think i got £94,058, but was about £40 out with the Retained earning and minority interest
  • Mini-Man
    Mini-Man Registered Posts: 24 New contributor 🐸
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    confused!! wrote: »
    Re the consolidated I think i got £94,058, but was about £40 out with the Retained earning and minority interest

    I got £that figure too and my Equity balanced back too !
  • tiny tina
    tiny tina Registered Posts: 14 New contributor 🐸
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    i didnt invest purely based on the intrest cover

    There was mixed veiws when i came out of the exam so figures crossed for both
  • lorraine
    lorraine Registered Posts: 404 Dedicated contributor 🦉
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    my number for the consolidated balance sheet was close to that cant remember exact figures.
  • sebastianforbes
    sebastianforbes Registered Posts: 172 Dedicated contributor 🦉
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    don't invest !!!

    net profit reducing
    roce reducing
    interest cover reducing

    loan capital increasing
  • LouLou143
    LouLou143 Registered Posts: 74 Regular contributor ⭐
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    confused!! wrote: »
    In section 2 did you advice to invest or not?? I said yes!!

    I said no as the return on equity was poor along with the interest cover.....despite an increase in revenue, nothing else reflected this. If you did an additional calculation for Acid test ratio etc, it was bad aswell!And I mentioned that they had more loan from 2007!
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
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    Oh i said yes, because overall they were up on equity and retained earnings from the year before, and that the reason for the loans were perhaps the investing in PPE (that was why that had increased) etc and that they will soon be saving money because of new machinary etc.... but to not take out any further loans! oh my good I do babble on!!
  • Mini-Man
    Mini-Man Registered Posts: 24 New contributor 🐸
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    sebastianforbes wrote: »
    don't invest !!!

    net profit reducing
    roce reducing
    interest cover reducing

    loan capital increasing

    That is exactly what I put except my last 2 figures in the decision process were wrong.

    I even mentioned Gearing for good measure as the Loans had more than doubled over 2008, hence why Interest cover was reducing.

    I worked out Interest cover (please do not laugh):001_tt2:

    Revenue/Finance costs !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    What the hell was I thinking of ?
  • lorraine
    lorraine Registered Posts: 404 Dedicated contributor 🦉
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    i decided no to the investing as the finance ratio has deteriorated so much and the return on equity had also deteriorated therefore any shareholders investing money would get a poorer return.

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