adhamhussein Posted May 17, 2013 Report Share Posted May 17, 2013 For topic 3 do we need to memorise how to do P&L, and balance sheet or do we just need to know the content of each. Its not very clear in the syllabus they just state them, does this mean that we have to memorise them? Reply Link to post Share on other sites More sharing options...
bluedino Posted May 18, 2013 Report Share Posted May 18, 2013 I think you definitely need to know the content and know how to do them (it seems to me as if the two are practically the same thing…) You should definitely know what details are in each, as well as the order they go in.Anyway, this is what the syllabus says: "Construct and amend accounts from information given." Basically, you should know how to construct the P&L and a balance sheet (and a trading + appropriation account) from scratch using information that the IBO would give you. So yes, you should memorise exactly what the P&L and balance sheet looks like and know how to do it.I hope that helps… Reply Link to post Share on other sites More sharing options...
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