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Dear Mike,
First of all, let me say thank you to you once again for answering all my questions and clarifying various issues.
Also, I wanted to ask:
1. if it is ok to abbreviate or shorten the items of the face of the fin.statements when doing published accounts questions, for example, say ‘AR’ in the balance sheet instead of ‘Accounts Receiovable’, say ‘liab.’ instead of ‘liabilities’, say NCL instead of ‘non-current liabilities’ please? Or will I be penalised for doing this?
2. Is it ok not to transfer the numbers from my clear workings into the fin.statements? Will I be penalised? The reason for asking is that I find it impossible to answer the questions within 45 mins.
3. I having some trouble in trying to keep to 45 mins for published accounts questions despite being methodical in my approach. Is it worth not finishing the published accounts question and move on to other questions please?
Huge thanks in advance!
Have a wonderful day!
ValentinaYou will not be penalised if you abbreviate, nor if your workings are clear.
And it is CERTAINLY worth leaving an answer the minute your time allocation is over
Thank you so much, and what about the totals on the balance sheet? Will I be penalised if I don’t do totals for liabilities and everything else?
there’s a school of thought that says “Don’t add up your B/S”
Personally, I would – it helps to quantify the error which may then easily be located.
But you said earlier that you don’t have time to reach the end of questions within the 45 minutes!
Dear Mike,
from my last sitting i keep the clean answer without working yet i get the minimum mark. i would like to know is that some mark given for the workings?
thanks
the vast majority of marks are for workings, you don’t even need to transfer them to the face if you don’t have the time…
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