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Hi Mike
Where I struggle with this topic is the explanation part to the question which is usually case study specific i.e. relates to the scenario given.
I need some more practice of this topic as there was a big question on this in the March sitting (which I failed). I remember that although more than 6 calculations had to be done only 6 marks were for these and about 12 given on the explanation side. I am certain that I didn’t score many marks here.
Thanks
The explanation / interpretation involves you mentally transporting yourself into the scenario
There’s not a lot that I can add to that – it’s often simply a matter of imagining WHAT could have caused the movement of ratio when compared with their equivalents from last year (or a competitor’s ratio or industry ratio)
I used to find profitability ratios difficult to interpret but learned that, if I were to increase a single element of the calculation, I could instantly see the effect on the ratio
And that automatically led on to being able to interpret whenever any element would change
Otherwise, it’s just practice
Sorry!
It certainly is trying to imagine it when given the scenario.
I am going to look up some questions but might ask you about this topic again. I remember specifically when going through the BPP Revision Kit last time that some of the answers are really lengthy and also remember thinking that I wouldn’t have known to have wrote some of these things they commented on.
How many times have I written this!
IGNORE the length of printed solutions! There is NO WAY that you are going to be able to write / achieve even 1/3 of that length in the time available
Somehow I have to filter through their answers and narrow it down. As I rarely know what to write I have to rely on their answers to get an idea of what I should be writing.
There should be, in the printed answer, one word or phrase that is key to each individual paragraph (ideally there should not be more than one word or phrase) so the filtration exercise can be achieved relatively quickly
Yet if one word or phrase was written in the exam it wouldn’t be enough to score the marks. The examiner is very specific about what they want to see. I will look at the examiner’s reports for this topic as it might highlight in more detail of what I should be writing.
Thanks for giving me the idea.
‘Yet if one word or phrase was written in the exam it wouldn’t be enough to score the marks. ‘
That one word or phrase identifies the key point! You say that it’s taking you time to filter through answers
All I’m saying is to latch on to the key word or phrase.
Once you identify them, you can then think how you would, in the exam room, blow up that thought into a markable sentence
What on Earth made you think that I was suggesting that you bullet point an exam answer? I have NEVER EVER said anything like that!
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