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I have studied f7 and in f7 we used to calculate goodwill by cost of control account…and we make T Accounts for calculation of NCI and Group Reserve…..
Can i use the same approach in P2 or do I have to follow statemental form.
Eh, bless you! I learned consols using T accounts and, when I first started teaching it, we used T accounts. But fashion changed a number of years ago and, to be honest with you, I now find the schedule approach easier than T accounts ever were.
But, never mind, you want toknow whether you can still use T accounts. Again, to be totally honest with you, you can use a crystal ball or tarot cards. It really does not matter – if you get the right numbers, that’s what matters. However, there can’t be many who actually DO get the right numbers.
Ok, no problem. You’ll get credit for whatever you get correct. Now, we have a problem! It seems to me that there is not much demand nowadays for T account workings and so your chances of a pass mark could well depend on the individual marker who is lucky enough to be allocated your exam paper.
But these people are professional, mature and responsible. If you deserve to get a pass mark, you’ll get a pass mark………..
…………probably.
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