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Hi,
do you loose marks for not (for instance) showing GW impairment separately on Consol P/L statement, rather than including it in Admin expenses as requested by the question?
Also can you use short hands like GW, IL, FA (financial asset), FL (finance lease), OL (operating lease)….in the exam to save time?
What’s IL?
FA could well be misinterpreted as Fixed Asset – I would abbreviate it down to Fin Asset
Otherwise, sure you can – have you not listened to any of the videos? Have you not read the exam technique articles? All of these questions that you ask are covered either in lectures or in the exam technique articles.
“Do you lose marks …..?” Why would you not follow the instructions?
If you show it separately instead of including it as indicated in the question ……. Ask yourself, “what is ACCA examining here? Is it my ability to calculate goodwill or is it my ability to include the figure in administrative expenses?” Is the ACCA able to hold its collective hands up and reassure the public that “all our qualified accountants have satisfied the many examiners in their ability to include goodwill in the indicated category.”
Recent press release – breaking news? “The ACCA is pleased to announce that, for the 15th consecutive year, no student has been allowed to qualify where they demonstrated an inability to include goodwill in Administrative Epenses when the exam question indicated that that was where the figure should be included”
Do I need to go further?
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