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- This topic has 3 replies, 2 voices, and was last updated 12 years ago by MikeLittle.
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- September 19, 2012 at 6:42 am #46503
Hi F7 Tutor
I’ve got some problems with exam techniques:
Q2 Trial Balance
I cannot possibly write the correct pro forma for three financial statements that are often come up as per past exam papers within a given time. Please someone advise:
• Any appreciations that can be accepted by ACCA, and
• How to shorten my wiring/filling in items and how long I should aim at spendingThanks
Regards
Cat3September 19, 2012 at 10:14 am #72338Well, let me see if I can understand your post before I try to answer it. Are you saying that question 2 in F7 is a heavy time-pressure question to be completed in 45 minutes, and that this time pressure is felt only by you? So now you wish to try exam techniques in order to speed up? Right so far?
OK. Number 1, why are you writing proformas? There are no marks for proformas. All the time you are writing out proformas, you are earning ZERO marks towards achieving success.
“Any appreciations that can be accepted by ACCA” I presume means any ABBREVIATIONS? If I’m wrong, I have no idea what appreciations the ACCA may accept. As for abbreviations, the examiner / markers are not bothered about you writing “Statement of Financial Position as at 31 October, 2012”
Instead SoFP is sufficient. Remember, this is not a test of English, nor even of presentation.
“How to shorten my wiring/filling in items and how long I should aim at spending” – not really any idea what this question is asking. I am not an electrician so I know nothing about ideal lengths of wiring.
I suggest that you rationalise what Steve Scott is looking for – the ability to take a set of source data and, having made adjustments, prepare a set of financial statements.
The adjusting matters have settled into pretty much a common form and, if you look at past exam questions since December 2007, you’ll see just how standard the question 2s have become.
Look at the back of the OT course notes, find the “Mini exercises” section and work through those examples, over and over, until you are fully familiar with the way to tackle the individual topics. They are almost all extracts from past exam questions 2.
When you are totally on top of these mini topics, have a go at solving a past exam question 2 and see if you can complete it in somewhere near 45 minutes. Hopefully, you will be pleasantly surprised.
If it’s not working, post again and I’ll see what else I can suggest
September 19, 2012 at 8:47 pm #72339Dear Mike
Thanks for your reply.
“Any appreciations that can be accepted by ACCA” I presume means any ABBREVIATIONS?
You are right. It should read ‘abbreviations’. Apologies for misquoting.
Instead SoFP is sufficient. Remember, this is not a test of English, nor even of presentation.
This is very helpful.
“How to shorten my wiring/filling in items and how long I should aim at spending”
It should read ‘writing’. Again apologies for misquoting.
I really appreciate your advice. I will certainly try your suggestions and let you know my progress.
Cat3
September 20, 2012 at 5:48 am #72340Welcome
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