f7_Examiner's Report_December 2007

F7_Examiner's - December 2007 examiner's report Examiners Report Paper F7 Financial Reporting December 2007 Introduction This was the first

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
December 2007 - examiner's report Examiner’s Report – Paper F7 Financial Reporting December 2007 Introduction This was the first Financial Reporting paper under ACCA’s new syllabus. Most markers and other commentators believed this to be a fair paper for which a well-prepared candidate could readily attain a pass mark within the time constraints of the examination which have been extended by the introduction of 15 minutes reading and planning time. The report has two main functions for candidates and tutors; it gives an assessment of the actual performance that candidates achieved and, secondly, the report should be of use to candidates intending to attempt the paper in the near future as it will highlight areas of poor examination technique and some of the common errors made by previous candidates. The new Financial Reporting paper consists whollyof compulsory questions, with questions 1, 2 and 3 being worth 25 marks each, question 4 worth 15 marks and question 5, 10 marks. As this is the first paper, the overall performance of candidates cannot be compared with an exact equivalent historic trend; however I was rather disappointed in the overall pass rate. A number of markers reported that they believed the poor performance was in part due to the poor performance on the answers requiring written comment and analysis. It must be stressed that it is highly unlikely a candidate will pass this paper by relying entirely on their computational ability. In extreme cases some candidates did not attempt any of the written elements of the paper and many others displayed an inability to express themselves clearly. This combined with poor handwriting (almost illegible in some instances) and question planning (despite the additional time allowance) contributed to attaining fewer marks. A common error of poor examination technique on several questions in this diet, was that many candidates simply did not answer the question that was asked. Instead they discussed, often at length, a related topic. This shows an inability to apply learned material to specific circumstances. A great deal of attention is paid to the wording of a question’s requirements and candidates should read these very carefully and only answer what is specifically asked for. No matter how good or accurate a candidate’s answer is, it will only attract marks if it relates to the question asked. The overall performance can be summarised: The first two questions (on group accounting and preparing financial statements from a trial balance) were widely expected and generally done very well. Question three required the calculation and analysis of company ratios. Candidates scored well on the ratios, but their analysis was generally poor. The remaining two questions, on average, gained significantly less than half of the available marks. Another important aspect adversely affecting performance was the number of candidates not
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/22/2011 for the course BU 36101 taught by Professor John during the Spring '11 term at University of Liverpool.

Page1 / 5

F7_Examiner's - December 2007 examiner's report Examiners Report Paper F7 Financial Reporting December 2007 Introduction This was the first

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online