Annie
15-11-07, 04:02 AM
Hi all,
I am appearing for F7 in this coming December. I would like to share some tips which I feel would be of great help while attempting the paper and specially while solving the final accounts problem.
1. Read question briefly in your reading time
2. Draw a proforma balance sheet and income statement and statement of equity (headings and leave gaps)
3. Work through the notes line by line - set up workings
(as soon as you finish working add the amounts to the income statement and balance sheet in a bracket)
4. Then go through the trial balance + tick and add items to balance sheet and income statement
5. Add across
* If some adjustment is too difficult - MOVE ON!
and later get back to it after attempting all the questions.
All the best
Annie
I am appearing for F7 in this coming December. I would like to share some tips which I feel would be of great help while attempting the paper and specially while solving the final accounts problem.
1. Read question briefly in your reading time
2. Draw a proforma balance sheet and income statement and statement of equity (headings and leave gaps)
3. Work through the notes line by line - set up workings
(as soon as you finish working add the amounts to the income statement and balance sheet in a bracket)
4. Then go through the trial balance + tick and add items to balance sheet and income statement
5. Add across
* If some adjustment is too difficult - MOVE ON!
and later get back to it after attempting all the questions.
All the best
Annie