Dfs

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CJE
CJE Registered Posts: 9 New contributor 🐸
in AAT Level 4 (Level 8 in Scotland)
How is everyone feeling about DFS? how are you remembering all the isa's?

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  • lala2009
    lala2009 Registered Posts: 95 Regular contributor ⭐
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    Hi

    The statements are fine, but the IASs arent so great! Too many to remember. I am focusing on the ones that have appeared in previous exams and hoping they will come up this year! :O)
  • BGTech
    BGTech Registered Posts: 2 New contributor 🐸
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    IAS's

    I have been trying to remember them by matching the IAS numbers with their descriptions and one other item to help memorise.

    IAS 7 Cash flow statements - 777 is a win on the fruit machine hence cash flow

    IAS 1 Financial statements - The most important part of the standards therefore number 1!

    Thats all I can think of for now!
  • lala2009
    lala2009 Registered Posts: 95 Regular contributor ⭐
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    BGTech - that's a great idea! Might have to steal those! :)
  • Londina
    Londina Registered Posts: 814 Epic contributor 🐘
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    I'm worried about the definitions, what is an asset & liability? I can't just say what you own and owed, they expect a better one!:ohmy:
  • lala2009
    lala2009 Registered Posts: 95 Regular contributor ⭐
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    just remember key words - resource, controlled, past events, future economic benefits :0)

    liability, past events, outflow of resources :0)
  • heartsandstars
    heartsandstars Registered Posts: 76 Regular contributor ⭐
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    I am dreading the written elements of DFS - I keep getting in a flap, because knowing my luck the one IAS I don't remember will be the one that comes up, and i will have to try and wing it!

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