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DFS Today

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Comments

  • confused!!confused!! Well-Known Registered Posts: 130
    Hi just an idea... but could it have been something to do with the payables? as i recognise the figure of £13k or something there??
  • NBBNBB Well-Known Registered Posts: 125
    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
  • CortezCortez Feels At Home Registered Posts: 76
    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?
  • MandaManda New Member Registered Posts: 7
    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
  • laf301laf301 Just Joined Registered Posts: 1
    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!
  • umerali2003umerali2003 Trusted Regular Registered Posts: 400
    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*** Just Joined Registered Posts: 4
    DFS - Section 1.2

    What was the profit figure in Section 1.2 income statements.
  • MurrayMurray New Member Registered Posts: 6
    What was the interest figure for the cashflow can anyone remember :001_tt2:
  • confused!!confused!! Well-Known Registered Posts: 130
    Think my profit figure in the I/S was roughly £4163
  • umerali2003umerali2003 Trusted Regular Registered Posts: 400
    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
  • MurrayMurray New Member Registered Posts: 6
    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 !!!
  • umerali2003umerali2003 Trusted Regular Registered Posts: 400
    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
  • hunterhunter Feels At Home Registered Posts: 54
    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 :)
  • MurrayMurray New Member Registered Posts: 6
    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.
  • karenvkarenv Well-Known Registered Posts: 114
    Yes when you added the overdraft from the ealier year to this years figures it showed an increase of 617.
  • hunterhunter Feels At Home Registered Posts: 54
    ye all the theory questions were on past papers, still struggled to answer them though :(
  • confused!!confused!! Well-Known Registered Posts: 130
    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??
  • mehmetmehmet Well-Known Registered Posts: 113
    The marking procedures are explained in this article:

    http://www.pqaccountant.com/Pages/studyguides.php?id=23
  • NBBNBB Well-Known Registered Posts: 125
    Yep, mine was 617 think its all faint now hehe
  • confused!!confused!! Well-Known Registered Posts: 130
    Think I deducted the Overdraft...oopps!
  • MurrayMurray New Member Registered Posts: 6
    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.
  • 2cool2cool Feels At Home Registered Posts: 53
    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!! Well-Known Registered Posts: 130
    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!
  • 2cool2cool Feels At Home Registered Posts: 53
    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:
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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.
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    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.
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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:
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    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.
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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.
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    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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