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sir, I know that I can use a financial calculator (un-programmable) in exams. There are some questions related to IRR or NPV, which if solved on paper consumes time and needs working, however it can be solved without much effort on financial calculators. My question is, do we need to show the steps and workings while answering the question? Simply can I mention that it was solved using a financial calculator, and skip some steps?
For Section A and B questions that is fine because for those sections nobody looks at your workings.
For Section C questions you will be entering your answers on to the spreadsheet provided and it makes more send to use the IRR and NPV functions that are in the spreadsheet (and the marker can see what functions you have used).
The rule for your own calculator is not just that it must not be programmable but also that it must not display letters (only numbers). So if, for example, the letters ‘NPV’ appear on the display then it is not allowed.
I assume that you have practiced the computer based sample exams on the ACCA website, in which case you will appreciate that a scientific calculator is provided as part of the computer software.
Thanks a lot for the prompt clarification. Im using Texas BA II plus calculator, and yes it displays NPV and IRR buttons.
I haven’t yet practiced those questions on the website, I am planning to work on it by the end of January.
Thanks again.
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