Marking Scheme - CAP1

BESman

Does anyone have a reasonable idea of how the CAP 1 exams are marked, e.g. in Financial Accounting, do you get a certain amount of marks for an income statement even if your profit figure is incorrect but most of it is correct? Similarly for Management Accounting, things like budgets, do you get a nice proportion of the marks for having the general format but the overall answer is wrong? It would put me at ease if I had an idea of how generous the marks are...

Coldplayer

you only lose the marks once as far as i know, if everything or anything else is correct, you should get the marks. you only get penalized once

BESman

Coldplayer wrote: »

you only lose the marks once as far as i know, if everything or anything else is correct, you should get the marks. you only get penalized once

Any idea what kind of a penalty we're talking about? I heard that you get a third of the marks the whole way down. So we say for each total you get a third of what you would normally get if you've followed the format correctly the whole way down but using the wrong figure.

Odats

Normally the marking scheme there will be marks for presentation which would be around 4/5 of the overall question if asked to do SOCI and SOFP. Everything is weighted so certain things will get 2/3 marks depending on the complexity of the adjustments example inventory, provisions, revaluations would get this and the more simple adjustments get one. Basically you lose the marks on the profit which is around 3 marks so assuming you don't get the profit right and have the majority of the adjustments you should get between 60/75% on the question.

Mark1916

Yep I believe your only penalised once for a mistake, which only makes sence, as long as you carry that figure correctly through your SOFI and SOFP! Presentation marks come in handy very very handy!

BESman

And does anyone have an idea of how Tax or Management Accounting is marked? Same principle? (I hope!)

The Big Red Button

In Financial Accounting, if you got most of the figures and calculations right in the income statement and balance sheets etc, but the layouts weren't quite right, would you still get most of the marks?

Thanks!