ACCA/CAT

General Comments

I am very disappointed to have to report a marked deterioration in candidate’s overall performance for this diet of the F7 Financial Reporting examination. Most commentators considered the paper to be no more complex or demanding than in recent previous diets. The majority of the paper’s topics had been examined before and candidates who had studied the full syllabus and revised using recent past questions should have had no difficulties obtaining a pass mark. It was particularly worryingly that so many candidates failed to gain enough marks to demonstrate any progression of understanding from that required at paper F3. Indeed some of the easier computations on this paper such as basic depreciation and accruals were not done correctly，in extreme cases some candidates made fundamental errors such as including non-current assets as income and conversely showing investment income as an asset.

This report has two main functions；firstly，it gives an assessment of the actual performance that candidates achieved and，secondly，to be of use to candidates attempting the paper in the near future to highlight areas of poor examination technique and some of the common errors made by previous candidates.

Other causes of the poor performance are familiar，but more prevalent than in the past. The most common of these was a failure to answer all the questions. A significant number of candidates gave answers to only half of the paper and thus had no hope of passing. One marker reported that she had lost count of the number of candidates that had scored 35-40 marks after completing the paper up to Q3 （a）（i）（which is 62 marks into the paper）and then failed to score more than another 5 marks on the rest of the questions （accounting for the remaining 38 marks）.Many answers to written questions did not address the specific points asked for indicating a lack of focus or simply not reading the requirement properly.

As on all recent sittings the written elements were answered much worse （if at all） than the computational elements. A number of candidates displayed evidence of poor time management by producing pages of unnecessarily detailed workings for even simple calculations. A consequence of this was running out of time on the later questions.

The structure of the paper is that of all compulsory questions，with questions 1，2 and 3 being for 25 marks each and questions 4 and 5 are for 15 and 10 marks respectively. The first three questions cover the ‘core’ topics of consolidated accounts，preparing single company financial statements （on this paper，from a trial balance）and performance appraisal/cash flows. Questions 4 and 5 cover the reminder of the syllabus.

Overall candidates’ performance can be summarised as good to very good on questions 1（a），question 2 and the statement of cash flows of 3（a）（i）；beyond this the rest of the answers were poor，very poor or non-existent. Candidates should be aware that markers may not be able to give credit to answers that displayed poor， sometimes illegible，handwriting. There were also many unreferenced or non-titled/labelled workings which can hinder the marking process.

The composition and topics of the questions was such that on this diet there was very little difference in substance between the International Paper （the primary paper） and all other adapted papers and therefore these comments generally apply to all streams of paper.

Specific Comments

（责任编辑：中大编辑）

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