Who found DFS Murder

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
I was confident about the DFS paper yesterday until I opened it. Tax was always my weak point until I found BTC easyer than usual on Monday. I even need to go, with 3 others to the pub due to my depressed state yesterday now i'm nervous about the results in August. Does anyone feel the same or is it just me being stupid. HELP ME

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    It was a nightmare! your not being stupid! The Tax paper was the easiest AAT have produced though. <BR>DFS was very time consuming...Was the Investment a question a red herring. I put down that Investments never appear in a consol balance sheet, couldnt understand what they wanted us to do?<BR>Didnt even attempt the STRGL question, had no idea. Will be back in December retaking that one and mondays paper. AAT were nasty writing mondays paper too.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    I thought the DFS paper was really hard. After being told by our lecturer that all we would really need to know was how to produce P&L's & Balance Sheets (Individual and Consolidated), Cash Flows and some Ratio's. So, that was all that I worked on, and the SSAP's and FRS's (which I can now name off the top of my head!)<BR><BR>I didn't revise the STRGL or the Movement of Shareholders Funds, but I had a go at both, and I'm positive I messed up the STRGL because I couldn't remember what was on it. I wasn't sure about the investment question either. That's something we definitely haven't been taught at College. I worked out the value of the investment to 4,750 based on their share being the minority investment<BR><BR>Other than that, I was pretty confident before the exam, and thought it would be long-winded but straight forward. I think it was the hardest paper of the three that I took this week. I thought it would be a better subject for me than BTC, which I found to be the easiest. The other I took was PEV which I thought was a messy paper. I didn't think that it flowed too well, but maybe that was just me trying to pick us as many marks as I could
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    I thought PEV on monday was bad until yesturdays DFS. It was terrible. <BR><BR>I couldnt make my balance sheet balance ( was 3000 out). I got really stuck working out the shares / dividends. Spent far to long on this, couldnt do the gains losses bit, or the shareholders reconciliation, or the associated company. As for section 2, only knew the 3rd and 4th ratios - guessed the others. <BR><BR>Then i ran out of time so didnt get to do the last question properly or go back to the gains bit which was the plan! Only thing i did with confidence was the cash flow and goodwill.<BR><BR>We too were told there would def be a consolidated P/L or BS.<BR><BR>Am trying to forget about it now and get my normal life back!<BR><BR>At least i should have passed Busisness Tax, if I fail that as well Im giving up forever!<BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    I agree with you all. After dedicating the past three weekends not to mention the week I had off work to studying for these exams I am extremely p[ssed off. Thank you to the college for telling us the layout the exam would follow and thank you for the revision courses which I understand were extremely helpful thank you that is until I entered the exam on Wednesday to be faced with questions that I couldnt even bluff my way through! Where was the consolidated p&l or b/s we were promised. Instead we were faced with an associate company, strgl and smsf what the f**k are they!!?? Oh and Sunny I wrote the same as you that the investment does not appear in the balance sheet but no doubt we are wrong when it comes to associate companies as opposed to subsidiaries which the college were very helpful in telling us all about. Shame they didnt mention anything about associate companies. <BR>I was confident about tomorrows exam but maybe they'll throw something in this one we know nothing about. See you all in December.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    I did! I don't know who was going to murder who? but I was suicidal on opening the paper.<BR><BR>There was far too much to answer and not enough time to read it all properly and do all that was asked. <BR><BR>I have booked myself for a resit!<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Who found DFS Murder

    I expected the DFS same as everyone else with consolidated etc etc, and our group was same. 6 people walked out after half hour. After PEV and a BTC that we ahdnt covered buyers point of view on IBA in that situation, DFS was the final demoralising score! Im only glad its not just me!

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