Last question of the DFS paper

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Flying Scarlet
Flying Scarlet Registered Posts: 42 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hi guys (again!!) :D

On the very last question of the DFS paper, after the ratios & analysis there is a question or 2 on the financial standards etc....

what will they ask here?

I failed this paper in the summer due to this question as I passed section 1 & my ratios were correct.

Cheers

FS

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  • DaveIOW
    DaveIOW Registered Posts: 83 Regular contributor ⭐
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    It will be about the Framework according to the guidance, however it has the possibility of being about an IAS as it was in June. I guess although they say it is about the framework, it could be linked to some knowledge of an IAS
  • giddyupgerty
    giddyupgerty Registered Posts: 1 New contributor 🐸
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    Last question of DFS

    They will ask for some clarifications on the meanings of IAS's and accounting terminology,
    ie Current assets, what is that made up from -cash, cash equivalents, assets held for collection etc.
    Also read the Accounting Equation - Assets MINUS Liabilities = Equity, learn the elements.
    Hope it helps
    Good luck for tomorrow.
  • Flying Scarlet
    Flying Scarlet Registered Posts: 42 Regular contributor ⭐
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    Cheers both, feeling a bit better now.

    Now then time to get my head round the cash flow things

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