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first questions is regarding the sales and lease back like the one that was asked in p2 this time….if there is an operating lease back we recognize loss if fv is less than cv and then compare selling price with cv ……..my question is will we recognize gain if fv is greater than cv or not and then proceed to the comparison between sp and cv.
secondly are there marks for stating the oening and closing balalance of cash in cash flow in p2 exam. And is the mark for net increase decrease in cash during the year for doing exactly right calculation or for adding all the figures which are for majority of students wrong
Thirdly kindly tell if someone knows of a student who passed his paper but had attempted not a lot of paper, like say 70%
1) No, it’s only a notional gain – the real gain is when we compare selling price with carrying value – I think
2) My tutor says (and Mike also says) that “you should work on the principal that there’s a mark for every figure you get right” There should be a mark for calculating the movement in cash by comparing C + E brought forward with C + E carried forward because no-one (ok, maybe 1 or 2) is going to get all the figures correct in the cash flow
3) have never heard of that happening
Thanks,
Can you guide me about chances of scoring highly in theoretical questions. Is the examiner willing to give maximum marks if there is a clear indication that the candidate knows very well what was asked and shows that through a good answer. i mean a theory based answer can never be perfect or accurate than how is he supposed to get full marks from it?
Well done ginger girl for remembering that point about scoring marks in a cash flow question 🙂
Emmu, when I used to be a marker, I have certainly given 100% of the available marks. In any written question, as opposed to a numbers question, the examiner is looking for knowledge of the topic and ability to reason and apply. Of course, in P level papers, an answer could very well be a matter of personal opinion. It should not matter that your opinion may differ from that of the examiner. A considered, reasonable, knowledgable and balanced answer (where you acknowledge two sides of a contentious issue) but then reach / express a conclusion differing from the examiner’s suggested solution should not cost you marks.
Of course, if there is a strictly correct solution then yours being different than the examiner’s is clearly going to cost you. But in the situation where there clearly is a “right” and a “wrong” the examiner will normally make it screamingly obvious
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