Hi sir Chris, i attempted the September session exam. There was a question on sec c preparing spl and sofp. After doing them both my sofp got balanced.. does that mean i will get the full 20 marks ? Even if i didn't show some minor workings as i didn't had time to show..
Another small question is do we include profit from discontinued operations with the operating profit when calculating the Roce.?this question has been bugging me till now......
And most importantly thank you for the lectures.
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SOFP and Roce
7y ago#1Hi,
It sounds like the exam went well, here's hoping that you get the right result when the results are released.
Preparing a SFP that balances doesn't necessarily mean that you get the full 20 marks. You could calculate a number incorrectly, and lose marks. The SFP would still balance if you processed the wrong number correctly.
Yes, you would use the notes to the accounts to find the operating profit from discontinued operations to use on the calculation.
Glad you enjoyed the lectures and good luck with the next steps.
Thanks
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