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Hi,
BPP advise not to add up the accounts when doing P2? What exactly do you take this to mean?
In say a balance sheet do you just refer to your PPE workings rather than add them all up and show a total PPE figure in the statement?
How would this work in a SOCF where I assume there are marks for adding up the operations and investment CF’s etc
Regards,
GavinHi Gavin,
There are no presentation marks in this questions so you will not gain any credit for totalling things up. So do not total up the assets, or liabilities or equity on the SFP. On the SPLOCI you will need to add down in order to split the PFY between the parent and NCI. Whilst on the SCF again there is no reason to show the totals for operating, investing or financing activities.
It is obviously not what would happen in the real world but exam world, as you can see, is a bit different.
Thanks
Thanks for that. Just looked at a marking scheme for a SOCF and I can see what you mean. Would have wasted time adding up the categories. There is actually a lot of relatively easy marks up for grads in the SOCF.
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