After the grueling past few weeks, I am left with a week to prepare for the exams next week. At the back of my mind, I think I have prepared enough to get a 55% pass, but the thing with these exams is that all it takes is an unexpected question to destroy your confidence, and possibly your results.
Financial reporting is rock tough. Basically we have 4 questions, the first of which throws you a set of financial statements and ask you to comment on its performance, calculate ratios, and explain what further information is useful in only 30 minutes. The other 3 are scenarios where you are expected to explain the accounting treatment for those. The difficulty lies in being able to identify what the issue is at hand, apply the right standards, and perform the correct calculations, some of which require you to prepare a revised set of financial statements. Most questions are 1.5 pages long which is really intimidating. And with 1.5 minute per mark, there is absolutely no time to dwindle.
Financial management is a lot more manageable time wise. It tests the usual NPV, WACC and hedging stuffs which I am relatively comfortable with.
With the papers so tough, I can’t imagine how the next Advance stage will be like. But I had better get this over first. With a week left, I better get cracking!
Good Luck for your papers!
jia you!