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Hi Mike,
I often get confused about what i should do first.
Do you have any tips on what to do first?
For instance when we are asked to prepare different statements?
Also the workings in any particular order?
I know it depends on what is being asked but if you have found a method that works please share.
Thanks Mike
Have you read the course notes, at all?
Have you watched the lecture videos, even just once?
It’s all there for you, step by easy step
I’ve even numbered the workings for you!
The only POSSIBLE variation from what’s in the lectures is where revenues / expenses don’t accrue evenly
And even that point is covered in the Ausra / Danute example
Hi Mike,
Yes I watch and enjoy every single one of your relevant lectures and could not have got as far without Opentuition.
My question is more regarding:
Preparation of statements:
Recalculation of profit
Changes in equity
Statement of Financial positionIs there any specific order you would attempt these questions?
Many thanks
Well, that’s tricky!
It’s almost a matter of doing all three simultaneously!
Changes in equity will NOT be asked in a consolidation question (not until P2!)
Probably profit calculation followed by Statement of Financial Position but I don’t think it’s possible / realistic to set out a sequence that you could follow on every occasion
I don’t feel that I’ve helped much, sorry!
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