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Hi John,
I came across a question from a past paper, an extract of which is below.The financial statements of APX Co for the year that has just ended contain the following
statement of financial position……
Requirement:
a) Prepare the following forecast financial statements for APX Co using the information
provided:
(i) A statement of profit or loss for the next year
(ii) A statement of financial position at the end of the next yearCould a question of this nature, i.e. preparing forecast financial statements, be asked in the current FM cycle of exams?
It’s highly unlikely but you could be asked to
prepare forecast financial statements, such as a statement of profit or loss and a statement of financial position as well as being asked to analyse how working capital was financed in say the previous year and to comment on changes based on forecast ratios for the upcoming year.
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