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Sir, will creating a management Accountant profit statement for any question help me solve MTQs e.g MTQ question 3? can i use the statement as an alternative instead of working through one question individually? is it possible to create a management accountants profit statement from MTQ 3?
I don’t know which MTQ question 3 that you are referring to!
Is it in our practice test (if so which one), is it in the BPP Revision Kit, or where??To create a full profit statement in order to answer a 2 mark question is very unlikely to be needed – you would not have enough time.
https://specimen.accaglobal.com/Assignments/F2_MTQ/ACCA.html MTQ F2 section B Question 3. I would like to use the Management accountants profit statement to fill in the gaps to solve the question please.
But the statement given in the question is a management accountants profit statement (the other name for it is ‘operating statement’!!!
The management accountants profit statement (or operating statement) calculates the standard profit and then shows the various variances in order to arrive at the actual profit – that is what has been given in the question.
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