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hi sir
i stand to be corrected but when i look at the acca marking scheme i realise that there is no mark for presenting your figures i.e. preparing the consolidated accounts. the marks are for working 1-5 and the necessary adjustments and the ias/ifrs calculations. now in my view one will be better off just doing all the workings clearly and then move on to question2 cuz the time spent in preparing the statement can be spent on answering another vital question two. i am looking at time manameent here.statement of cash flow is the only one exemt here i understand cuz i know that one u have to present where the figures will be. im talking about d shaped, complex, forex etc
what do you think??
the non current asset/liabilities, current asset/liabilities and any other simple additions can just be made as part of the workings. it also dosent include a question on p&l since there will be marks for time apportionment and dividing by average rates, this applies to only balance sheet questions.
im trying to avoid writing down figures youv already wrote. because if youved prepared a working for ppe, goodwill, financial asset, current asset, retained earnings, nci, other components of equity, non current and current liabilities already, ull just be posting figures uv already written down .
How many times do I say in recordings “The marks are in the workings”?
HOWEVER!!!!! The examiner has said in the past that if a question asks for a (balance sheet) statement of financial position, then the answer should give a statement of financial position.
But you’re correct! If, at the end of your time allocation of 63 minutes for a 35 mark consolidation, all you have completed is the workings, then it’s time to move on. At least leave a page for the “answer” and maybe put in some figures (share capital, long term loan …) but don’t worry about the detail of moving the retained earnings, nci, goodwill over
BUT!!! your workings must be crystal clear
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