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Hello,
I am struggling with the consolidation element of the exam, I find myself getting too bogged down with the adjustments as there’s quite a few to get through, and end up just wasting time and not completing the question properly.
Is there an “easy” way or methoid to pick up marks without the adjustments. I.e. would just completing the goodwill workings without any adjustments get half the marks available for it, for example, 2/4 for just consideration, NCI and removing SC, SP and Pre Acq Reserves etc?
I find myself worrying too much about picking up all of the adjustment marks and end up not completing the question properly and think I’m losing more marks this way. Any suggestions?
Thanks,
Trevor
Hi Trevor,
The consolidation adjustment do take time but I’d like to know how you are answering them. Are you writing down any explanation for them? If you are then you mustn’t do this as it is not required in the question, your focus merely needs to be on crunching the numbers and nothing else.
The best way to approach the question, once you’ve dealt with the group aspects (net assets, goodwill, NCI, Group RE and Group OCI) is to look for the easiest adjustments first. The easiest ones tend to be the ones with the least amount of text/narrative within them, and hence take up less time as there is less to dealt with.
If one of the adjustments is a bit too challenging then just attempt what you can do and move on as there is partial credit available.
If you can do the group aspects and the easiest parts of the adjustment then you will comfortably score enough marks to be able to pass in the time available.
Thanks
Hello,
Thanks for this, I think my main issue is/was getting to grips with the group structure and then doing the relevant calculations following that, i.e. what percentage ownership to take for each sub’ etc.
I am findng the CSOFP easier to tackle (now), but still not that confident. The CSPLOCI and CSCF are the ones i cant seem to get marks on – maybe i’m being to harsh?. Do you have any advice on these statements to gain some “easier” marks?
Thanks again.
Hi,
I’d look at the revision video on cash flows as it highlights the technique and the easier marks.
It is a bit more difficult on the Group SPLOCI but the basic group marks are usually some of the easier ones and then similar to the Group SFP you need to find the easier adjustments.
Thanks
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