I've been through the paper 1 audit trail sample solution and have a few questions to you guys: 1. The audit trail does not provide detail of where to find the data in the data section - is that what's expected? I thought we need to make reference to the location in the spreadsheet. 2. Same applies to the assumptions 3. The parameters section is only one sentence - is that OK? I thought that we would need to provide reference to cells etc. here. Thanks in advance if anyone can comment.
I also had a look at the excel spreadsheet paper 1 solution. It contains a printscreen of a goalseek. Is this something that we are expected to insert into the spreadsheet when we use a goalseek function?
The paper 1 solution excel model - worksheet charts contains descriptions of scenario 1, 2, 3 in chart labels. I was wondering whether it is mandatory to label the charts with such descriptions or would it suffice to say scenario 1, 2 and 3? I'm trying to think how to save time without loosing marks. Thanks in advance for your tips.
I have a number of unanswered queries on CP2 and I've sort of given up on getting any help on this here.
Hi Viki2010. I thought given no other answers appear to be forthcoming I would explain what I would have done in the situation (I passed CA2 on first attempt last April, so in no means are my answers 'correct' but maybe it would help you to hear another's approach?). I would probably just type a line saying - original data is found on X tab. Then talk about your process for checking/cleaning the data. Likewise I'd reference where the assumptions where. My feeling on where the parameters are is that I would have said where they are (i.e. top of sheet Y) and mentioned the paramterers. E.g. A is for setting ..., B is for setting... On the goal seek, I would inset a screenshot into my audit trail, and have done that both at work and in the CA2 exam in April if I remember correctly. I personally would put a brief description of the scenarios on the charts, or at least on the same tab as the charts. Charts is preferable though, my reasoning being if the model was being presented in a report down the line the charts would need to be intuitive. Hope that goes someway to helping.
Hi I think the answers are similar in each case. You just need to make sure that another person using your spreadsheet will be able to find things. 1. For the data, you should say what the original source of the data is, ie where you got it from. As long as it is clear which tab includes the data and your audit trail describes it at that point, you don't need to say anything else about the location. 2. With the assumptions, you just need to have an Assumptions section in your audit trail with a list of your assumptions. You don't need to have them in your spreadsheet as well. Was that what you meant? 3. As long as your audit trail makes it clear where the parameters that can be changed are, and it is obvious what they represent (eg from the names / descriptions on the spreadsheet), you don't need to say much more about these. David
That is just one way you can do it. Alternatively, you can highlight in words that the spreadsheet uses a goalseek and give brief instructions on how to use it so that another user will do it correctly.
Sorry about that. The tutors normally get notified automatically when there is a question but the CP2 ones haven't been coming through to me for some reason. If you don't get a reply to a question that is bugging you, you can also ask a tutor directly by emailing us at CP2@bpp.com.
I would just label them as Scenario 1 etc and describe the scenarios in my audit trail. As you say, it's important to save time in the exam.
Thank you David and ChloeEllen for taking the time to answer. I was unsure as in some parts of the audit trail it feels like we are expected to be very detailed with references. We can get marked down if the audit trail for lack of detail. Maybe for the calculation/scenario section we should be referencing not only columns but excel cells as well?
Hi David, I've emailed CP2 a couple of days ago thinking that it may be quicker to get the answer, but there is no response to the email. Did you get it?
