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Hi Sir,
Does one get marks for the workings in the questions even if the SFP does not balance or the Profit and Loss a/c profit for the year is wrong?
Do you get marks for making the correct workings even though the accounts end up with the wrong figure?“even if the SFP does not balance” – PARTICULARLY if the SoFP doesn’t balance! As one student of mine said to another when told by the other that he SoFP didn’t balance “It’s not meant to!”
Substantially ALL the marks are in the workings. Never mind whether your SoFP balances or the profit for the year is wrong …. the marks are in the workings!!!!
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