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i was wondering hw much marks wud i lose if i dont prepare the consoliated financial statements ,but my workings are all correct. Im looking ahead to a typical question one of the P2 paper (considering a 35 mark allocation to the question)?
I frequently say at this F7 level “The marks are in your workings” and I’m pretty sure that, when you get there, P2D2 will sing the same song
You can’t begin to do a statement of financial position until you have done the appropriate workings – there are no marks for pro-formas
So do the workings, frequently checking elapsed time. When the time allocation is over, stop! And move on to the next question
If you have time left after completing the workings (and, importantly!, parts b and c of the question – if you happen to be a P2 student), carry on with the preparation of the financial statements that are asked of you
But if you haven’t finished the workings and time allocation is over … do NOT be tempted to carry on
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