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For single company and consolidation accounts, I always find discrepancies, often just careless mistakes. How common is this??
Very! Only a minority will actually get their SoFP to balance, and that in iteself doesn’t prove that it’s correct! Simply by adding every line across will give you a balancing SoFP
Don’t worry about it – accept that you are not going to score 100% in the exam. therefore accept that you will make mistakes – everyone does. No-one has ever scored 100% in F7 not its earlier equivalents
balancing will only give u a mark or so , so do not dwell too much on it and take up uncessary time once u knw u gained the main marks u are good to go.. Here a tip if u do not balance just put in the same figure u get for the Total assets u bluff ur way their Let the marker find the mistake..lol
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