OLD DFP CODE
Does anyone have any exam tips…for last minute revsion!!!
BPP JUNE 2010 TIPS
* Q1 (25 marks). Consolidated statement of comprehensive income (P&L) and/or statement of financial position (balance sheet) with one subsidiary plus associate (including adjustments for fair values, unrealised profit, intragroup trading, goods/cash in transit, other syllabus area). Discursive part (b) on reasons for adjusting for unrealised profit or other group topic.
* Q2 (25 marks). Accounts restatement/preparation with adjustments e.g. depreciation, current/deferred tax, inventory (stock) valuation, leases, substance over form issues, financial instruments (change in FV or amortised cost), revaluations, share issues or government grants. May include EPS calculation or movement in share capital and reserves.
* Q3 (25 marks). Interpretation and/or statement of cash flows, perhaps with written part on not-for-profit entities. Interpretation may focus on limited ratios and their interpretation (e.g. liquidity). Sections of a statement of cash flows (rather than whole statement) may be tested.
* Q4 & Q5 (15 & 10 marks). One question in context of conceptual framework; other containing one or two discrete topics. Possibilities: regulatory framework, inflation, government grants, deferred tax, substance over form issues, leases, intangible assets, impairment or construction contracts.
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