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Hi mike,
The exam was awful today, I felt prepared but clearly I wasn’t. I was looking through some of the income statement questions to try and realise how bad my mistake mught be. Basically I did all the relevant workings but I did no have time to do the p n l. Rather I wrote what I would do with them all (debit and credit treatment!). In the marking schemes previously and in bbp practise book there are no marks specifically allocated for the full p n l. How badly would I have fared? Obviously assuming I did the workings correctly. Would it be half or a few marks. Im panicking because I also omitted a seven mark because I didn’t have a clue how to attempt. If i lose lots with the missing p n l I dont think it would be a miracle to pass!!
Thank you for your help,
Danielle, the marks are in the workings. Assuming that your workings are correct, you should lose very few (if any!) marks
Don’t panic! As you have pointed out, printed marking schemes don’t show any marks for the statement of profit or loss (nor for the statement of financial position) as such..
It’s the workings that will score marks for you
Hope that helps 🙂
Thank you Mike, iv no idea what I even did in that exam. Iv never not finished it before! Fingers crossed for October.
Danielle, I did the exact same thing! I didn’t complete the p&l but like you felt I was prepared. If I only we could have had an extra 20 mins…..
I know i think 5 would have done it for my p & l. I deliberately went back though and did first 3 items so they knew that I knew to pro rota the sub for 6/12. So hopefully I’d get that Mark even if I didn’t do the whole thing :/.
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