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hi mike do you have any tips for the 20 marks interpretation question, i am really freaking out on that as it is so subjective
also, could you please tell me the difference between current cost, and replacement cost. (i would be grateful if you could explain it to me with an example) thanks 😀
We no longer give tips for the exams – it’s a pretty meaningless exercise given that we really have no idea of what’s going to come up
We could, like some other tuition providers do, give tips that basically covered the entire syllabus and then claim 100% accuracy in our tipping prowess
You should yourself know where your weaknesses lie and those are the areas that deserve your attention
As for current cost accounting and replacement costs, chapter 22 is really all you’re likely to need to know
It’s certainly NOT going to be the basis of a 20 marker and there is a simple example on page 129 to illustrate a current cost trading account
In addition, the trade-off diagram (looks remarkably similar to the impairment diagram!) demonstrates the extent of your required understanding
Stop panicking and do a consolidation followed by 2 hours of mcqs!
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