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What should be stratigy to achive the accuracy in time, while solving ACCA’s paper – F7’s quastion of final accounts with adjustments, like how to coordinate the adj. requierd for notes and placement of figures from trile balance to financial statements.
Hi,
If you are asking a question that relates to F7, then you should probably post it in the relevant forum. This is for P4.
However, given that you have raised the question, even though it may be in P4 rather than in F7, I’ll answer it. Firstly, accept that you are not going to score 100% – so give up now with this frustrating quest for accuracy.
Right, with that out of the way, you have 45 minutes for each of the first 3 questions in F7. They are all 3 very heavy time pressure questions but there are lots of easy marks to pick up in the time allocation.
Set out your workings in a clear, easily readable and easily understandable layout. And stop working on that question after the 45 minutes time allocation. The more you practice these questions, the easier they become and you should find that you can substantially all the way through within the time available.
But if you don’t practice, I look forward to speaking to you next April or May when you may be asking the same question!
Practice, practice and then practice again – if necessary going over questions which you have already practised before!
I said to my own F7 course today “The marks are in the workings” If you look at a consolidated balance sheet, there are very few marks allocated to the balance sheet itself. The marks for goodwill are not for putting the correct figure on the balance sheet! They are for your working 2 where you were calculating what the correct figure for goodwill is!
And remember ….. the key word is “PRACTICE”
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