# Interpretation of Financial Statements part b

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1. says

Why don’t we calculate the purchases and use it for the payables period calculation instead of using cost of sales?

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Strictly we should use credit purchases. However usually you do not have enough information in the question in which case you have no choice but to use cost of sales.
In this question, we could calculate it for one year, but not for the other and so we would not be comparing ‘like with like’ if we did it for one year and not for the other.

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,,the interna rate of return,, (IRR) what it means? Does it includ f3? i have exame tomorrow

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if i were requested to enter my answer into the computer , for example a credit balance for account payable \$1000, do i need to key in a -1000 or just 1000. do we need to put negative “-” for credit balances? including losses, do we need to put a “-” for loss or credit balance ? very urgent, i am having my exam tomorrow. thank you

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No.

It will just want the number. If it wants to know whether it is debit or credit there will be another box to choose.

Do not enter it with a minus sign!

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Thanks John, I sat for my F3 today and got 79%, thanks for your lectures! i really enjoy and benefit a lot from you lectures because we get to learn the logic instead of just memorizing . will you be teaching F7 and F9 ? r u the lecture for F5 too ?

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That is great – congratulations

(I teach F2, F3, F5, F9, and P4)

4. says

Thank you Sir John Moffat ,I am now pretty much aware of this topic (Ratios). Its an awesome explanation

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hi… i have been preparing for my exams in december (f1,f2,f3)… i am almost done with f2 and f3… i have only studied the first chapter of f1 as of yet. can you please tell me whether watching these video lectures are sufficient to pass in f1 paper?

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It is the only way that we can keep this site free of charge.

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I cant even watch it.chapter 1 is watchable but starting w chapter 2 its not working.if I jave problem w my firewall,why I can watch chapter 1 lecture?

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