B
Benoy Soman
Member
Hi guys,
I was hoping to get your thoughts on the below and if you agree?
For Paper 1, I know that we should update our audit trail as we work through our model. But should we attempt to do the modelling for all the calculation steps, different scenarios and graphs before updating the audit trail for these sections? Or alternatively is it more ideal for e.g. to set up the calcs for Scenario 1 and then update the audit trail, do same for Scenario 2 then audit trail etc..
Generally the approach I take for Paper 1 is:
1. Read all material incl Qs
2. Write intro in audit trail
3. Do data checks, then update audit trail for Data section
4. Update audit trail for assumptions section
5. Do each calculation/scenario step and graph in the order asked, updating the audit trail as I work through each of them.
For Paper 2, the order in approach I take is:
1. Read all Qs, background material and understand the model alongside the audit trail provided
2. Update Summary for Overview section
3. Update Summary for Data section
4. Update Summary for Assumptions section
5. Update Summary for Approach Section
6. Update Summary for Results and incl. graphs that we've been asked to produce
7. Update Summary for Conclusions
8. Update Summary for Next Steps - I try to do this throughout from the start, as some of these are generic.
Sorry for the long post!
Appreciate your help!
I was hoping to get your thoughts on the below and if you agree?
For Paper 1, I know that we should update our audit trail as we work through our model. But should we attempt to do the modelling for all the calculation steps, different scenarios and graphs before updating the audit trail for these sections? Or alternatively is it more ideal for e.g. to set up the calcs for Scenario 1 and then update the audit trail, do same for Scenario 2 then audit trail etc..
Generally the approach I take for Paper 1 is:
1. Read all material incl Qs
2. Write intro in audit trail
3. Do data checks, then update audit trail for Data section
4. Update audit trail for assumptions section
5. Do each calculation/scenario step and graph in the order asked, updating the audit trail as I work through each of them.
For Paper 2, the order in approach I take is:
1. Read all Qs, background material and understand the model alongside the audit trail provided
2. Update Summary for Overview section
3. Update Summary for Data section
4. Update Summary for Assumptions section
5. Update Summary for Approach Section
6. Update Summary for Results and incl. graphs that we've been asked to produce
7. Update Summary for Conclusions
8. Update Summary for Next Steps - I try to do this throughout from the start, as some of these are generic.
Sorry for the long post!
Appreciate your help!