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System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
What % mark roughly would you get preparing the profit & loss account in the financial exam? <BR>I also had to put a suspense account in the trial balance, could I still gain marks for that?<BR><BR>Thanks for listening!

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  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Don't worry about it too much, Clare. The Chief Assessor's Report for the December exam says:<BR><BR><i>If the trial balance does not balance, Candidates should open a suspense account to balance, as<BR>credit will be given for this.</i><BR><BR>As for %age marks, the exam is based on competence. Creating a suspense account is a mark of competence as you realised there was something wrong and took steps to bring it to light and deal with it. The examiner now knows that, if you had the time, you would go back and investigate the problem, find it, and correct it. That's competence.<BR><BR>Mike
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Thanks for that mike, feel better now!
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    I think that because you put a suspense account in then you only lose one mark because the examers see that you know that you trial balance should balance. thats what i was told anyway

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