Piseth

F7 Exam Tips

1. Know the fair (full) value approach to calculating goodwill and NCI. It will be likely test the fair value and less will test the proportionate share of net assets.

2. There are NO POINTS for FORMAT. This means you should not waste time writing the words "Statement of Financial Position for the Year Ended..." and you should not waste time summing up the assets or liabilities columns. Just start with "Non-Current Assets".

3. Most points are for your workings. Even if your number is wrong, you will get many points for your workings. CLEARLY LABEL, NUMBER, and UNDERLINE each working, e.g. "1. PPE" or "2. Goodwill".

4. Write more. Students answers are too short.

5. For written questions, even if you have no idea what the answer is WRITE SOMETHING. If students are borderline (scores of 46, 47, 48, 49) the exam markers will look to give partial points to the written answers, even if they are wrong.

6. Discuss the facts in the question. This is very important. If the question asks about applying IAS 17 to a lease of a hotel, then focus on applying IAS 17 to the hotel situation in the question. DO NOT simply write the general rules of the IAS.

7. For consolidations, only show the group accounts - you should not show the parent and subsidiary accounts.


Best of luck

ADBot

Kangoo

good work

psk

free bump!

caac gollab

to the point. really good tips. are you really sure that markers look for further points in wrong answers if 48 or 49marks?

SzeNi

thanks ya~

dinesh007

I think that these are really good advice

lorraineb61

Hi,

Thanks for that info, looks good!

haseebcool

Cool One man

danielso

Thanks a lot!

danielso

Thanks you!