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Hi Mike,
Can you tell me if it is ok to use abbreviation in P7?
For instance ‘Statement of financial position’ would be SOFP etcI really struggle to write quick even though I’m keeping my answers short and to the point (Where I can) and at 1.3 mins a mark. So where I am saying something is material to the SOFP for example, takes a lot longer writing out the whole thing.
Thanks in advance
Hi
Why not try this? “The item is clearly material to the Statement of Financial Position ( SoFP ) ….”
And then, next time you want to refer to the SoFP, you can refer to it as ………………….( wait for it ) …………………….”SoFP”
The same with IAS / ISA / IFRS
But, if you are really, really pushed for time ( or think you will be ) then just go straight in with SoFP
What is this exam? A test on your ability to write document titles out in full or a test of your deeper appreciation of the wonderful World of auditing?
Yes, go ahead and use the abbreviations – so long as they are clearly understandable. For example, it would not be acceptable for you to use “aawn-ohehob”
( An abbreviation which no-one has ever heard of before )
DTH?
Very well answered and explained…….. though not many people heard of DTH? !!!
I presume it means “Does this help”?
That’s exactly the point – some abbreviations are so every-day that they represent no problem when using them ( DHL carriers, OMG, etc ) but some need an introduction as illustrated in my earlier post.
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