F7 workings for Numerical Questions

you will get mark even if you made a mistake say in calc. But you must put right adjustments in right workings. The workings format is in open tuition notes, kaplan and bpp. Sometimes they may slightly differ but the sense is the same. I would strongly recommend to remember workings as they are tought and stick to it. It gives you the logical structure for your answer and it should be automatic process – no thinking ”’aaaa what am I supposed to do now”. There is no time for this at the exam. Of course hardly anybody is able to square balance sheet ot cash flow. Don’t worry this does not matter so much. Your logical and technical approach matters. If you don’t know what to do with something – make assumption and move on or ignore. You will lose mark or two but more important is to finish paper. To attend all parts of all questions. To pass you need to do 75% of the paper and of this what you have done 75% must be right – easy!;-) (75% x 75%= 56.25%)

My advice is to have one page for just the proforma

eg: Statement of Profit and Loss and Comprehensive Income for year ended 31 MArch 2013
Revenue
Cost of Sale
Gross Profit
Administration Expenses
Profit Before Interest and Tax
Interest paid
Profit Before Tax
Tax (Working 1)
Net Profit for the year
You get 0.5 marks for just writing this in its prescribed order. If there are any workings to do for the calculation of cost of sale, taxation, admininstration expenses and other expenses you do them on a second page. You should avoid writing anything like (tax = 20% of profit )on the face on the income statement, just write Working 1 as shown above. So please leave the first page just for the proforma. Similarly for balance sheet and cash flow statement.
This will make the difference between the dreaded 49 and 50%.
Good Luck

so what if,if a student just calculate amortisation of an intangible assets and showed it in his workings and put in COGS indeliberately whereas in question its clearly stated that amortisation will be charge on administration cost…. so could you explain the marking procedure here cause it would be helpful for me to check mock exam copies thanks

same concern for pup if a student gets the wrong answer (showed in workings) and enters in cogs he will get the half mark if it contain 1 mark… right????

Hi sir do weed need to add up the income statement or balance sheet figures.or we just need to put the figures from the workings to the income statements or balance sheet.thank you.