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Hi Mike,
I am hoping to resit F7 exam for the third time this june! I have read your article on F7 Exam techique and didnt realise that that there are no points for proformas! I have previously done the proformas first before my workings . ie SOCI, SOFP, and would put in revenue, COS etc so the skeleton of the question is set up for me and then start my workings. As i am re thinking my strategy for this exam, i am wondering if i should do my workings first as more likey to get points and then if i have time then do my SOCI and put my working figures in etc…
what would be your best advise on tackling these type of questions as really want to pass this time!
Thanks
GillForget proformas! They carry no marks – look at a marking scheme in any revision kit.
I bet you also write out all the words in full! “Intangible non-current assets” is so much slower than “INCA” or even “G/W”
I say countless times in my live lectures (and hopefully in the recorded ones too, as well as in exam technique articles) “the marks are in the workings” Again, look at a marking scheme for a question 1 consolidation. You’ll find lines like “Goodwill 5 marks”, “Retained earnings 6 marks”
But you won’t find anything that says “Proforma 1 mark” nor “Pretty layout 1 mark”
Let’s hope this new strategy works for you 🙂
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