Forums › ACCA Forums › ACCA FM Financial Management Forums › Rounding in section A questions
- This topic has 2 replies, 2 voices, and was last updated 6 months ago by
mrjonbain.
- AuthorPosts
- February 4, 2024 at 7:02 am #699704
I’m using the BPP practise and revision kit and am finding I’m getting many section A questions wrong due to rounding differences.
For example the calculation for finding the implicit annual interest rate on a 50 day repo in my answer looked liked this:
(50000/9650000)*365/50 = 3.78%
50000 being the increase on the original value
9650000 being the buy back value
365 being the number of days in the year per the question
50 being the number of days between sale and buy back
Answer is stated to 2 decimal places per the questionHowever the answer in the book is 3.80%
This is because they have broken the answer down as such:
50000/9650000 = 0.52% when stated to 2 decimal places (so rounded up)
0.52% *365/50 = 3.80I understand the reason for the different answer.
My question is this, will there be any allowance for rounding differences for section A questions in the exam, where you won’t be able to show your workings?
I’m getting worried I’m going to fail this exam because, as the saying goes, there’s many ways to skin a cat!!
It’s question 27 in the work book if anyone is interested.
Thanks
February 4, 2024 at 7:32 am #699708This thread should clarify matters for you-
https://opentuition.com/topic/rounding-differences-4/
Hope this helps.
February 8, 2024 at 5:07 pm #699964A more recent answer, albeit in a different subject that should reassure you-
- AuthorPosts
- You must be logged in to reply to this topic.