DFS Today

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  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
    Hi just an idea... but could it have been something to do with the payables? as i recognise the figure of ยฃ13k or something there??
  • NBB
    NBB Registered Posts: 125 Dedicated contributor ๐Ÿฆ‰
    I honestly have not got a clue?? I did remember seeing 13K in the table I did were you split everything up, just hope the examiner sees it too hehe
  • Cortez
    Cortez Registered Posts: 76 Regular contributor โญ
    i'm really searching my memory but i think these are the general ratios ?!?


    2008 2007

    gpm 45 46
    npm 5 7.5
    roe 5 (?) 10
    ic 2.5 7.5

    feel free to adjust :001_tt2:

    gpm and ic look the same as mine but the others slightly different I think. I used profit before tax figure in those calculations - was that the right one?
  • Manda
    Manda Registered Posts: 7 New contributor ๐Ÿธ
    What did people put for the confidentiality question....prob most easiest question on the paper but it really threw me at the time and im still not sure what the ideal answer should be as I cannot find anything about confidentiality in any of my text books for DFS? Very cross with myself..... prob couldnt answer it because i am the biggest gossip in my company ha ha
  • laf301
    laf301 Registered Posts: 1 New contributor ๐Ÿธ
    I am kicking myself for the question about the elements i listed assets liabilities equity income expenditure then for part B of the question I just listed assets liabilities and equity again no explanations or anything. I thought the question was a bit simple but it was just a case of not reading the question properly!
  • umerali2003
    umerali2003 Registered Posts: 400 Dedicated contributor ๐Ÿฆ‰
    Well The Paper Was Orite But I Didnt Balanced My Balance Sheet I Missed It With The Figure Of 200 But I Showed My All Workings Quite Clearly And Same With Cash Flow And Consolidated I Didnt Balanced It But With The Very Minor Figures Though Showed My Working Quite Clearly And Efficently

    Secondly In Section 2 The Last Question 2.2 (b) I Wrote Only Asset-liability= Equity

    Due To The Lack Of Time Aint Got A Chance To Define It

    Wat U Lots Think Have I Done Enough 2 Get Through Or Should I Have 2 Walk By Again Lolzzz

    Reply To My Post Will Be Highly Appreciated
  • PSSV***
    PSSV*** Registered Posts: 4 New contributor ๐Ÿธ
    DFS - Section 1.2

    What was the profit figure in Section 1.2 income statements.
  • Murray
    Murray Registered Posts: 6 New contributor ๐Ÿธ
    What was the interest figure for the cashflow can anyone remember :001_tt2:
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
    Think my profit figure in the I/S was roughly ยฃ4163
  • umerali2003
    umerali2003 Registered Posts: 400 Dedicated contributor ๐Ÿฆ‰
    r u talking abt the interest paid which we have 2 deduct in the reconcilation if that is case that will goin 2 be the figure of finance cost which was provided in the income statement of cash flow statement
  • Murray
    Murray Registered Posts: 6 New contributor ๐Ÿธ
    yes that's the one (105) I put that in but my cashflow wouldn't balance, I was out by 2k for the increase in cashflow I got 217 & should have been 215 going by cash figures for start & end of period. Any ideas !!!
  • umerali2003
    umerali2003 Registered Posts: 400 Dedicated contributor ๐Ÿฆ‰
    dont worry mate mine one didnt balance but its all about workings if it dosent balance due to small figure and your workings r right then u will defiantely pass secondly our inviglator asked us before the exam started that the chief assesor specially asked that student must show there workings as no reward will be given if there r now workings so at the end of the day its all abt workings u showed
  • hunter
    hunter Registered Posts: 54 Regular contributor โญ
    Im sure the figure going by cash at beginning/end was 617, as they started off in overdraft position, starting to forget exam already so correct me if i am wrong :)
  • Murray
    Murray Registered Posts: 6 New contributor ๐Ÿธ
    Maybe that's what I meant don't know forgetting as well, ouch well overall I thought it was a fair enough exam. All the theory questions had been in past exam papers that I looked at did anyone else notice that.
  • karenv
    karenv Registered Posts: 114 Dedicated contributor ๐Ÿฆ‰
    Yes when you added the overdraft from the ealier year to this years figures it showed an increase of 617.
  • hunter
    hunter Registered Posts: 54 Regular contributor โญ
    ye all the theory questions were on past papers, still struggled to answer them though :(
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
    i really want to know the outcome now though... does anyone actually know why it takes so long? is it the sheer amount of paper they have to mark maybe??
  • mehmet
    mehmet Registered Posts: 113 Dedicated contributor ๐Ÿฆ‰
    The marking procedures are explained in this article:

    http://www.pqaccountant.com/Pages/studyguides.php?id=23
  • NBB
    NBB Registered Posts: 125 Dedicated contributor ๐Ÿฆ‰
    Yep, mine was 617 think its all faint now hehe
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
    Think I deducted the Overdraft...oopps!
  • Murray
    Murray Registered Posts: 6 New contributor ๐Ÿธ
    Hope you all do well with your results, thanks for the feedback much appreciated. This forum has been really helpful has made me feel less stressed about where I went wrong, good to know your not the only person with errors & doubts.
  • 2cool
    2cool Registered Posts: 53 Regular contributor โญ
    The only mistake i made in the exam was screwing up on the return on equity ratio part but apart from that I had a reasonable good go at it and I hope I have done enough to pass. What do you think? I am more or less prepared for a resit in MAC though. :lol:

    Comment back please:001_smile:
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
    Hi 2cool

    what did you do for return on equity?think i did PAT/equity
    or was it PBIT/Equity I cant remember now!!

    I think I had calculated all of the ratio's ok, but messed up the interpretation part, I really hope i do get some credit though as it would be a shame to fail because of that.
    I think i did ok in section one!
  • 2cool
    2cool Registered Posts: 53 Regular contributor โญ
    yes profit after tax/equity was correct but i did it wrong unfortunately. I had a word with my tutor today and he said that that 1 mistake with the ratio shouldn't do much harm. I had a reasonable go at the interpretation and task 2.2 was great so fingers cross. I think we should be ok!!:001_smile:
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    i'm really searching my memory but i think these are the general ratios ?!?


    2008 2007

    gpm 45 46
    npm 5 7.5
    roe 5 (?) 10
    ic 2.5 7.5

    feel free to adjust :001_tt2:

    I can't remember the figures exactly, but I got similar.

    for roe I used profit before tax(after interet). Bit confused as thats what the Kaplan book says to use for return on owners equity, but internet searches say profit after tax.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    If you think about it logically, the profit after tax is what is available for distribution to the shareholders so that is the one to use.

    using profit before tax wouldn't mean anything as not all of this figure is available for shareholders use.
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    If you think about it logically, the profit after tax is what is available for distribution to the shareholders so that is the one to use.

    using profit before tax wouldn't mean anything as not all of this figure is available for shareholders use.

    I wouldn't go as far as to say it woouldn't mean anything. ROCE uses PBIT!

    I just don't get why the kaplan book says to use profit before tax, for return on owners equity. So is that a different ratio completely.

    Really just wondering if I'll get full marks for using before tax profit, none, or somewhere in between :laugh:
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    I've always used Profit after tax over capital employed for ROCE but if you look on the net there are a couple of different formulae, I don't think it will be too serious if you have used a different formula as there are so many different ways of measuring each ratio.

    I just felt that using profit after tax was what would be available to owners. It makes life easier if things seem logical and make sense.
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    I've always used Profit after tax over capital employed for ROCE but if you look on the net there are a couple of different formulae, I don't think it will be too serious if you have used a different formula as there are so many different ways of measuring each ratio.

    I just felt that using profit after tax was what would be available to owners. It makes life easier if things seem logical and make sense.

    You were right though, you definitely did it the way you was supposed to.

    I just hope there flexible on the marking!

    Only issues I have with using profit after tax is the various tax rules could distort the figures. Such as losses carried forward from previous periods, ie a loss in 2006. Capital purchases could give big allowances in the year. But then again like you say, its the money the shareholders get.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    Don't worry about tax adjusting stuff, wait til you deal with deferred tax, that would smooth it all out and not give you a distorted figure but I believe that comes up in ACCA/CIMA/ACA - I don't think you deal with it at AAT.

    As you say, the tax has to be paid whatever and it doesn't belong to the shareholders.

    By the way, I didn't take this exam (I qualified AAT in 2004) and I'm still rusty on my ratios as I don't use them every day - you picked one of the fews ratios (along with npm and gpm) I am 100% comfortable with!!
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