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Help plz DFS pass marks

Amy1234Amy1234 New MemberRegistered Posts: 10
Have just done DFS 08 exam and made a stupid mistake:
There was a sale returned item on the first quiestion so I added the cost to the returns inwards, but stupidly then took the cost (135) off bloody sales not trade receivables. I was then 270 out on the Net assets:equity!
I didn't realise until the way home where i had gone wrong! :blushing:

Does anyone know/think this mistake will seriously effect if i pass or not?

And does anyone know roughly was percentage marks you need on each section to pass?

Comments

  • LondonMattLondonMatt Experienced Mentor Registered Posts: 1,110
    I can't see one mistake - no matter how stupid - costing you the exam. If that was te only mistake, and your written answers are up to scratch, I can't see you failing
    :001_smile:
  • welshboywelshboy Feels At Home Registered Posts: 82
    I am the same I missed two journals off on first section and my cash flow was out but apart from that everything was fine.

    Does anyone know what the passmark is and if this will affect me?

    I am seriously panicking now!!!!!!

    Worked so hard and car broke down this morning and only just got there on time!

    What a disaster!!!!! Feel like crying im so angry!:crying:
  • NichNich Feels At Home Registered Posts: 49
    Don't panic- I'm sure these mistakes will not fail u. I took DFS last Dec, my Balance Sheet and Cash Flow did NOT balance but i still managed to pass- god knows how!!
  • welshboywelshboy Feels At Home Registered Posts: 82
    Thanks Nich

    I prepared the income statement and balance sheet without journals and it all balanced just panicking as they were simple journals and i was just panicking with my car breaking down and getting there.

    I really hope I havent failed worked so hard but thats not always enough :(:crying:
  • blobbyhblobbyh Font Of All Knowledge Registered Posts: 2,415
    I wouldn't worry. Two years ago my Balance Sheet didn't balance (forced to use a suspense a/c) and I messed up a couple of my journals but I still passed.
  • Amy1234Amy1234 New Member Registered Posts: 10
    Thanks every1 for gettin back so quicky, it's put my mind at rest a bit.
    Still kicking myself for such a silly mistake tho lol!
    Spose worse that can happen is a resit which isn't the end of the world .
    :001_smile:
  • welshboywelshboy Feels At Home Registered Posts: 82
    Thanks Robert

    Cheers for your support mate I hope I will be okay just kicking myself now as I know the journals were so simple.Iguess I will only get marked down for those an d not the income statement or balance sheet.

    Its out of my hands now so just have to wait :thumbdown:
  • welshboywelshboy Feels At Home Registered Posts: 82
    Is the pass mark 75%?

    Im just wondering roughly what it is in the two sections I know i have everything in section 2 okay i did that in about 30 mins just the three mistakes im kicking myself for!

    Hope everyone else did well :thumbup1:
  • Moseley_21Moseley_21 Feels At Home Registered Posts: 59
    Hey everyone!!

    I don't think that was too bad was it?? Can we talk specifically about questions yet??
  • lorklork Feels At Home Registered Posts: 97
    They don't set the pass mark until they've marked all the papers, apparently.
  • Marie1507Marie1507 New Member Registered Posts: 8
    You can never tell. In unit 5 everything balanced but I failed. Apparently it was because my written answers weren't up to scratch!
  • bladesblades Settling In Nicely Registered Posts: 24
    Dfs

    Hi on the consolidated task I rounded up the majority interest to 67% however for love or money could not get it to balance. Have looked at how I worked out the goodwill and all seems correct. Could the rounding up be the problem as I had time to go over my figures again but still could not see where I might have gone wrong. Would it just count as one error would I get lots of errors. Glad it is all over now can look forward to a little rest until results in February.:lol:
  • Marie1507Marie1507 New Member Registered Posts: 8
    I rounded it up and mine balance. Did you take away the intragroup trading amount from Retained earnings?
  • bladesblades Settling In Nicely Registered Posts: 24
    Whoops did take away a figure from their receivables and payables but did not do anything with with retained earnings. Did the revaluation for fixed assets. The 20% impairment for goodwill. So maybe it might be only one error.
  • RichardRichard Trusted Regular Registered Posts: 373
    Marie1507 wrote: »
    I rounded it up and mine balance. Did you take away the intragroup trading amount from Retained earnings?


    All I did was take the intergroup amount off the Trade Receivables of the one company, and off the Trade Payables of the other company. Should I have done something else too?

    I was confident about this exam at the time, not so sure now!!
  • Marie1507Marie1507 New Member Registered Posts: 8
    Was there an impairment???I didn't see that! lol
  • fpettiferfpettifer Feels At Home Registered Posts: 40
    I didn't take it away from retained earnings and mine balanced!! :001_tt2:
  • fpettiferfpettifer Feels At Home Registered Posts: 40
    Marie1507 wrote: »
    Was there an impairment???I didn't see that! lol

    yep, it was the last addition info note. something like 20% (might of been 25%) can't remember now
  • umerali2003umerali2003 Trusted Regular Registered Posts: 400
    For Those Who didnt balance any thing dont worry ... As Long as u showed your workings dont worry abt it ... i didnt balaned any thing nd i thought i will definately fail that but when the result came it was a big PASS on both sections
  • MrGofOxfordMrGofOxford Settling In Nicely Registered Posts: 22
    I messed up the first question too, after a lot of deliberation I realised that the question mentioned nothing about the sale being a credit sale so I credited cash instead of receivables. :( I think this might be wrong. I also adjusted the inventories as the returned items were back in stock. I really did a bodge job on that one & I'm bricking it now!

    Concerning the pass rate, it depends how well everyone did. If 99% of people got above 75% then the pass rate would have to go up to 90% at least.
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