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Hi John,
I was under the assumption that statement of profit and loss and statement of financial position would not appear in this exam.
However it appears that this is asked in part a of question 81 in the latest BPP revision and practice kit. Do these also need to be covered?
Thank you in advance and your help is greatly appreciated!
You certainly are expected to know about the SOFP and SOPL from earlier exams (or whatever exempted you from them). This is a past exam question and the examiner has asked similar questions several times.
Obviously it is not testing double entry and everything else that is in the financial accounts papers, but the financial manager has to understand what the SOFP and SOPL are (and I obviously go through them in my free lectures when explaining what the whole purpose of financial management is).
Thanks for your reply John. I will go back and brush up on this in case it comes up.
Thanks for your help, it is much appreciated.
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