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Hi,
When I work through some free cash flow to firm valuations, I usually make a mistake or two and hence, the NPV number incorrect.
My question is, if we, go on to calculate the value of the firm, will we get marks for the method or will we get 0 marks after the NPV number was wrong?
Because I use the same method in every step but my answer is just wrong in the end because of a mistake I’ve done earlier in WC or TAD etc. for example.
Thanks.
Firstly, every part of your workings are marked separately (you can see the marking guide to exams at the end of each set of answers).
Secondly, you do not lose marks for the same mistake twice. So if you make a mistake early on, you can still get full marks for all the later workings (provided, of course, then your workings are clear enough for the marker to follow 🙂 )
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