Financial Statements Exam.... how are they marked?

beccajane87

Hi everyone :001_smile:

I am new to the forum, been lurking around for a while reading peoples posts but decided to join and participate myself!

I am currently studying Level 4 - I took Financial Statements exam yesterday (failed it first time :mad2: ) and I had a question I was hoping people could give me some help with!


Question 1.1 was to draft a financial statement and I had one of the overpaid tax situations in my question. Anyway to cut a long story short I realised when I got home last night that I have answered this incorrectly, so my tax calculation is wrong :sad:. I am confident that the rest of my answers in this task were correct, but obviously the tax calc is wrong so the total comprehensive income is wrong, therefore the SOFP is wrong... so basically I am wondering how these exams are marked.

Are they marked line by line (so I would get some partial marks for the bits I did correctly) or is it literally marked correctly only if you got the 'Total' of the statements correct?

My theory is it's done line by line, as otherwise how can you 'Meet' or 'Exceed' expectations in an area -surely you would just pass and fail?

Sorry for the rambling but it's been on my mind all night and I am going slightly crazy :blushing::confused1:

Thanks all
Becca

kkelly

Hi Becca,
I honestly dont know how they are marked, but I would expect thats its on a line by line basis. It would seem the fairest way to do it t.b.h!!
No point in driving yourself crazy...it is as it is and please God you will will have passed this time.

I'm waiting on my results too so were both in the same boat....best of luck with them!!!
Regards
Kevin

beccajane87

Thank you kkelly..... my tutor also responded to me and said that the financial statements assessments are marked all the way through, not just based on the 'totals'. Heres to hoping that's true, as that was my last exam and then I'm done!!

beccajane87

Oh, and good luck for your results too!