• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Can we use PV / FV / LY / YE in paper

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Can we use PV / FV / LY / YE in paper

  • This topic has 7 replies, 3 voices, and was last updated 3 years ago by Kim Smith.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • September 3, 2021 at 7:27 am #634064
    parthbhanushali
    Member
    • Topics: 34
    • Replies: 20
    • ☆☆

    Can we use short forms in the exam. For example:-
    1) FV = fair Value
    2) PV = Present value
    3) LY = Last Year
    4) YE = Year end

    September 3, 2021 at 8:24 am #634088
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    It is ok to use SOFP, TCWG after writing out in full first, and I think FV is acceptable too – I don’t think you should use the others. (And we would generally say “prior year” rather than last year.)

    September 3, 2021 at 10:08 am #634108
    parthbhanushali
    Member
    • Topics: 34
    • Replies: 20
    • ☆☆

    Okay! I will not use the short forms for current/prior year.

    For others, eg, FV , PV(present value) , TCWG, SOFP, SOPL, SOCF, SOCIE, do I need to mention their full forms in the end or at start of the briefing note?

    September 3, 2021 at 10:24 am #634113
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    You should always state in full before using abbreviation. I think the number of occasions you might have to refer to present value that it is hardly worth introducing an abbreviation for it.

    November 23, 2021 at 1:22 am #641346
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    can we use such abbreviations in section A too within the briefing notes, after introducing the abbreviation once? Or we would end up losing one mark for lack of professionalism in writing?

    November 23, 2021 at 8:13 am #641357
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    It’t OK for common usage abbreviations such as you might come across in wider reading – but you shouldn’t make up new ones and you should avoid ones which could have alternative meanings (even if you do write them out in full). Ones to avoid in particular are “NCA” (could be net current assets as well as non-current) and “AR” (.e.g for analytical review or auditor’s report).

    November 24, 2021 at 3:02 am #641417
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    that makes it clear! I will not risk using any other abbreviations apart from SFP, SPLOCI and SCF! and will also make sure I introduce them once at the start of my answer! Thank you:)

    November 24, 2021 at 7:20 am #641434
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    I would also use TCWG

  • Author
    Posts
Viewing 8 posts - 1 through 8 (of 8 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • manahylilyas on The financial management environment – ACCA Financial Management (FM)
  • poojam on Objective of financial reporting – ACCA Financial Reporting (FR)
  • mm3677 on IAS 16 Accounting for a revaluation – CIMA F1 Financial Reporting
  • Anastesia123 on MA Chapter 1 Questions Accounting for Management
  • John Moffat on MA Chapter 26 Questions Variance Analysis

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in