An error has been spotted on the recent F7 Paper
The cashflow question (Q3) contained the error. The p&l and balance sheet were in £000s. One of the notes was in millions of pounds.
In the question, the company involved had admin expenses in the p&l of £350,000 but in the notes, it was stated the company paid back a loan note early and had incurred a £20m early repayment fee and that this had been charged to admin expenses.
The question left students asking how can £20m be charged if the total admin expenses were only £350,000?
An ACCA spokesperson said: 'We are aware that there was an error in one element of question three of paper F7.
That will be taken into account during marking and we can reassure any students who have taken this paper that they will not be disadvantaged in any way.'
www.richardclarkeacademy.com
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