Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Consolidation with double entry
- This topic has 8 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
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- December 3, 2014 at 3:08 pm #216860
I learn’t and did consolidation question’s workings with double entry, I have heard nothing about it from examiner or acca, but someone told me that examiner stated you should not do consolidation with double entry but only with your workings in statement form.
December 3, 2014 at 3:08 pm #216861is that right?
December 3, 2014 at 3:22 pm #216869I’ve never heard that. In “the good old days” we all used to teach consolidations with T accounts. Then there was a move to schedule format. And now you’re telling me that you are leading the rally back towards T accounts!
I can’t keep up 🙁
Seriously, I have heard nothing about the examiner’s attitude to the use of T accounts but, if you get the right answer, it should be ok and I’m sure the markers are smart enough to work out what’s happening
December 3, 2014 at 3:47 pm #216895Thank you for your answer mike.
My teacher taught me in this way Only once or twice did I get the exact goodwill, and never CR and NCI without matching with the answers and pin pointing my mistakes. Also in the exam it took a lot of time to make the entries and then make a T account, I guess statement form may be easier, will try that in P2 then. Hopeful about passing F7.
December 3, 2014 at 4:07 pm #216911Hope you have passed – we’re not allowed to talk about it until after 17.00 UK time so better not to say any more about it for another hour or so. Then we’ll be able to gauge the reaction from around the World as to whether it was generally found to be tough or easy – or even somewhere in between the two.
You sound like your teacher did this teaching some time ago – in which country was this way still being taught?
December 3, 2014 at 5:14 pm #216962Pakistan. Got two teachers for F7, one is teaching with double entry (he is kinda old school) and the other with statement form. with double entry its also difficult to tally with past paper answers, so even practicing was difficult. But I hope the markers can award marks for the workings, as the consolidation didn’t balance as expected.
December 3, 2014 at 5:42 pm #217000“Consolidations are not meant to balance” is a famous quote from one of my former students to her friend as the friend reported how she felt she had done in her F7 exam.
Both are now qualified a number of years ago
December 3, 2014 at 6:13 pm #217026“Consolidations are not meant to balance”
I agree 🙂“Both are now qualified a number of years ago”
Its good to know that my consolidations need not to balance for me to qualifyDecember 3, 2014 at 6:35 pm #217036I don’t believe I ever got any question completely correct except once – an 8 mark question on the English banking system.
Until you start teaching it, you never really appreciate just how mechanical it can be!
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