Forum Replies Created
- Posts
@Cardine said:
The correct interest rate – effective rate of interest at the bond issue date!!! It’s important that you know – identifying errors in exams and note same.Success for ALL!!!!!!!!!!!!!!
Do you mean current rate Cardine?
Hi Mike,
So do you mean the use of the 10% current interest rate is correct rate and the calculations by the other two lecturers of the 8% original effective interest rate is incorrect? Sorry but just want to be sure because I was taught to always use the original effective interest rate.
Thanks in advance for your help Mike.
Deborah.<cite>@nagutta said:</cite>
failed- 38% 5th attempt somebody come to my rescueHard luck. Its a very hard paper. I failed at Christmas with 41% so I know how frustrating it is to fail but thankfully I managed to increase it to 81% by changing my approach to the paper. This time i watched numerous video’s on you tube on how to pass F8 and the common pitfalls to avoid .(Youtube has some great videos and opentuition has some reat articles on it. I read the examiners report on all F8 exams for the last few years. This again was very usefull in identifying what not to do in the paper. One of the biggest pitfalls identified was Audit risk. If you see the words “audit risk” then think FINANCIAL STATMENTS, FINANCIAL STATEMENTS, FINANCIAL STATEMENTS. It is very easy to get zero in this by looking at things from the prospective of the business rather than the auditor. (I went wrong on this at Christmas) An auditor is concerned about the financial statements and if you consider the effects the scenario has on the financial statements rather than on the business you should gain some marks.(i.e goods soiled by flood damge, the audit risk is “are the goods overvalued in the financial statements? do they need to be written down/written off? Business risk is they may not have goods to supply to customers which could annoy customer and cause them to go elsewhere to do business next time) . This time I also covered exam papers back to June 2009 and some mock papers to cover different types of questions that could possibly come up. I kept repeating the question until i was scoring full marks in them.( you may think you know a topic but as soon as you do it without the notes you go blank). I never did a full exam type sitting as this would drive me mad but i did do individual questions.(just jotted down points as did not have time to write out the full question. It wouldnt work for everyone but did for me. Practice is key in this subject. Best of luck in December, I hope it works out for you!!