Just a quick one – how many decimal places are we supposed to work to in the exam?
I did a revison question last night (June 2010 NPV) and worked to 1 decimal place, and in thousands. Apart from a silly mistake with working capital (need to go over that lecture again 🙂 ) my answer was almost there, but checking my answer afterwards ACCA had worked to 3 decimal places in the workings and rounded to nearest thousand in the actual NPV calculation.
I also looked at another where they had done 2 decimal places.
What is acceptable? Or the norm? Will they fail you for it?
I couldnt see anything in the question that said work to ‘x’ number of decimal places.