DFS- How is eveyone getting on revising?

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Shell B
Shell B Registered Posts: 95 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hello

Was just wondering how everyone is getting on revising for this unit. Am finding it slow process i keep getting mixed up with the inflow and out flow of the reconciliation of profit from operations, just cant seem to get it right. Any tips for remembering???

Do you think the CBA will be like personal tax and through random horrible questions in??? bit worried about what to expect in exams now because of the personal tax experience.

How is everyone revising the IAS's there are so many to go through, not sure my poor brain can cope or remember all of them. Tips on this would be good too???

I guess tips on any of this unit would be good :-)

Shell B

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  • keane155
    keane155 Registered Posts: 404 Dedicated contributor 🦉
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    Hi,

    I'm quite happy with my DFS revision at the moment, I've got my exam on Friday.

    For the reconciliation of the profit from operations, you need to think about what causes an increase or decrease in cash...e.g. an increase in inventories will be taken off because buying inventories decreases cash, depreciation is always added on, because it was taken away to get the profit from operations figure.

    There is a really good book by Clare Finch called A students guide to international reporting standards - I bought it after reading recommendations on here and I would say that it really helps with the IAS's - it gives really good mnemonics for remembering cash flows and stuff and workings to make the consolidations a lot easier.

    Hopefully the CBA won't be like personal tax - the practice one didn't look too bad, but I suppose the personal tax one didn't either until the real exam so who knows.

    I'm just going over IAS's and need to look at consolidation of the income statement again tonight,

    I think it's just practice really though, try learning a few IAS's a night then keep going back to them.

    When do you have your exam?

    Emma
  • Shell B
    Shell B Registered Posts: 95 Regular contributor ⭐
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    Thanks for the advice Emma

    My exam is on the 1st feb, you will have to let me know how you get on with yours on fri good luck with it i hope it all goes well. You sound like you know your stuff so am sure you will be fine and seen as you passed the personal tax am even more sure you will pass this.

    Shell B
  • keane155
    keane155 Registered Posts: 404 Dedicated contributor 🦉
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    Yes, I will let you know what it's like. I have been revising all of the time over the last few months. I just hope that we don't get any strange questions - I suppose the good thing is you know whether things have gone right or not when they balance(or don't balance).

    Good luck for the 1st Feb. :)

    Emma

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