Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Some minor points
- This topic has 4 replies, 3 voices, and was last updated 12 years ago by Anonymous.
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- June 8, 2012 at 4:38 pm #53235AnonymousInactive
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When you are producing a statement of financial position in the exam, do you lose marks for showing basic workings on the document (i.e. basic addition of two items when consolidating receivables)?
Also, if there are various non current assets can you list them:
Land and Buildings
Machinery
Motor Vehicles
Patentsor, do you have to group them:
Property, Plant and Equipment
PatentsJune 8, 2012 at 10:09 pm #99759u dont loose marks for showing basic working as there is no negative marking
and yeh u can show like that no problem either group them or not
June 9, 2012 at 7:10 am #99760Its always better to show the workings, so that examiner can follow you how you got a particular number,
Even though if your final answer is not correct, you still score marks for showing the calculation and format.June 9, 2012 at 11:08 am #99761AnonymousInactive- Topics: 23
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Thank you. I was thinking when a question says ‘prepare in accordance with…’ you would have to set it out by the standard (which wouldn’t have workings on it in real life, it would show them in the notes).
June 11, 2012 at 2:51 pm #99762AnonymousInactive- Topics: 23
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In terms of having error carried forward marks, could someone clarify?
If I calculate the depreciation on a non current asset incorrectly in a working I will lose a mark. When I then use this figure to come to an answer for non current assets in the SOFP, am I right in that I will get a mark for getting the right answer with my wrong figure? So I will get the mark awarded for the cost of the asset in the SOFP and not get penalised twice?
Also, I used the BPP study text for this exam. I got completely stumped on the December 2011 past paper when it asked me for differences between the international and UK treatments. Where is this information?
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