Honours Accounting

belinea06

im pretty confident of the following to come up:
1. Company Acs (maybe sole trader but it should be company)
2. Revaluation
3. Club
4. Tabular (maybe published)
5. interpretation
6. cash flow
7. suspense
8 marginal (i used to think product + stock but all mocks were marginal)
9 cash budgeting

if they come up thats hopefully an A1 for me.
im only studyin qs 2,3,4,6,7,8.
for the tabular they give u lined out paper.

Faerie

belinea06 wrote:

im pretty confident of the following to come up:
1. Company Acs (maybe sole trader but it should be company)
2. Revaluation
3. Club
4. Tabular (maybe published)
5. interpretation
6. cash flow
7. suspense
8 marginal (i used to think product + stock but all mocks were marginal)
9 cash budgeting

if they come up thats hopefully an A1 for me.
im only studyin qs 2,3,4,6,7,8.
for the tabular they give u lined out paper.

That's exactly what we predicted in school except q4 and 5 might swap! I hope they don't though!
Here's my nightmare:
1 Departmental/Manufacturing
2, 3 & 4 Don't care we didn't even cover all the 60m!
5 Interpretation
6 Tab
7 Published
8 Well all the Q8s are grand actually!
9 Mixture of all the budgeting

Nerd007

Published??? What??? We've only done 1 of them in class! This means i each have to do either Interpretation or Published so im safe! which is easier! bear in mind i got like 17% for my interpretation in the mock! ahhhh.... this is so annoying! can't wait for this to be over!

happydance

Personally I love interperatation! I used to find it impossabl to do weel but then I tried printing off a few solutions from the last 2 years and baseing my answers on that, it really works!

Faerie

happydance wrote:

Personally I love interperatation! I used to find it impossabl to do weel but then I tried printing off a few solutions from the last 2 years and baseing my answers on that, it really works!

It annoys me because they give you marks for particular phrases! So even if you imply the answer they can't give you the marks. I think it should be in the Business exam!

happydance

probably should. Still I like it as a back up. I prefare other accounting (all those lovly doube entrys! No other subject and be based on such a tiny concept!!)

Still though, when you look at what they want it is fairly short and simple. I like it 'cos if one of the other questions goes wrong and i get flustered it doesn't get affected 'cos it's so totaly different!

Rob30888

belinea06 wrote:

im pretty confident of the following to come up:
8 marginal (i used to think product + stock but all mocks were marginal)

We did two mocks in Accounting and the second one was exactly as you described, but Stock Valuation came up, which was very odd It's easy anyway

melopeat

I find interperatation is a Question u can't leave out, plus there practical the same every year. I hope sole trader comes up in section 1 and marginal costing in section 3. If all goes well could get a high grade in this. What do you think of cash flows???????

Nerd007

melopeat wrote:

I hope sole trader comes up in section 1 and marginal costing in section 3. If all goes well could get a high grade in this. What do you think of cash flows???????

i like them! its the only think i get right everytime! practice practice practice!

In an ideal world: Ques 1 will be Company or Sole (i dont really mind), Ques 6 will be cash flow (cos im good at them), Ques 7 will be Club Ac (cos i hate tab and suspense) and ques 8 will be marginal!

But knowing my luck, ill get manufacturing account in section A, tabular suspense or published will come up as Questions 6 and 7 and product costing will be section C!

Last exam though- cant wait!

UnitedIrishman

I'll just be happy if a company final account comes up, followed by a club account and maybe cash flow in 6 and 7. And then Marginal costing with a Cash Budget.

Cash flows can be tricky with the tax (use this years or last years etc) and other headings but it's a better option than suspense.

Nerd007

im praying for cash flow and club a/c's to come up in question 6 and 7. If published comes up im completly f**ked!!

DonaldDuck

I use to think suspense were hard,but now I've realised I can do the 100mark suspense in 20minutes....saving me loads of time in other questions(Nevermind the fact that marginal only takes 10min ). I'm not to fond of cashfls since I've never learnt them properly

Zapp Brannigan

So is no-one doing Q5?

Okay im having serious troubles with Company Final Account. I've been looking through my book and I cannot get my head around the Preference Dividends Paid and Proposed and Ordinary Divs Paid and Proposed! Help?

Nerd007

i should be fine if tabular or suspense come up cos i've bin practicing alot and will be doing more revision before the exam but now that i've found out that published come up twice every 3 years im completly f**ked! my teacher is obviously awful cos we've never done Published or Interpretation!

CrimE

Im not going to do interpretation either. I know its a guranteed question but i just really dont like them. I chose accounting to avoid writing! I need to do a good bit on the last section, still dont know that stuff very well.

Nerd007

CrimE wrote:

chose accounting to avoid writing!

ME TOO! also my stupid guidance teacher discovered i liked maths and said it would be better to do accouting than physics! about a week into accounting i realised that it wasnt for me but the deputy-principal wouldnt let me change! :mad: :mad:

willowmegs

k dudes, started my revision on accounting this morning. i'm doing the long question in section1 and hoping marginal costing/flexible budgeting comes up in section 3. im also doing the ratio question in section2. anyway here are the questions that im only going to revise:

sole trader (hope this one comes up, i prefer it to company)
company
ratio
tabular
incomplete records
incomplete records (type b)
cashflow
club
marginal costing
flexible budgeting

Nerd007

wow thats loads! well done you!

willowmegs

well i thought to myself i might as well do good in the exam seeing as ive a big break beforehand :-)

Faerie

Slurms wrote:

So is no-one doing Q5?

Okay im having serious troubles with Company Final Account. I've been looking through my book and I cannot get my head around the Preference Dividends Paid and Proposed and Ordinary Divs Paid and Proposed! Help?

You'll actually find that really easy once you do!
For pref didvidends you're given something like:
8% Pref Div 100000
So the total for the year is 8000
And then you're usually given the figure paid in the Trial Balance like:
6 months pref divs paid 4000
So the figure due is 4000.
The 8000 goes into the P&L and 4000 goes into the B/S. Although remember to show in the P&L the paid figure and the due figure - you have to spilt them up.
And for the Ord Divs:
You're given the paid:
6 months ord divs paid 12000
And you're also given:
Ord Divs 300000
Then in the adjustments you're told:
Total ord div brought up to 12% of ord shares
So the total figure for year is 36000 (12% of 300000)
And then the due is 24000.
36000 goes into P&L (split it up) and 24000 goes into B/S.

I hope that helped at all! I'm bad at explaining stuff!

Zapp Brannigan

Faerie wrote:

You'll actually find that really easy once you do!
For pref didvidends you're given something like:
8% Pref Div 100000
So the total for the year is 8000
And then you're usually given the figure paid in the Trial Balance like:
6 months pref divs paid 4000
So the figure due is 4000.
The 8000 goes into the P&L and 4000 goes into the B/S. Although remember to show in the P&L the paid figure and the due figure - you have to spilt them up.
And for the Ord Divs:
You're given the paid:
6 months ord divs paid 12000
And you're also given:
Ord Divs 300000
Then in the adjustments you're told:
Total ord div brought up to 12% of ord shares
So the total figure for year is 36000 (12% of 300000)
And then the due is 24000.
36000 goes into P&L (split it up) and 24000 goes into B/S.

I hope that helped at all! I'm bad at explaining stuff!

Okay I get that, but what happens if its only given to you as "Interim Dividends Paid"?

Faerie

Slurms wrote:

Okay I get that, but what happens if its only given to you as "Interim Dividends Paid"?

sorry I forgot that part!
You just take off the pref figure which you can get from knowing the % and the no of months and then you have ord paid.

SQgal

anyone help me with suspense? ive dat kums up as a 100m im dead!! hoping to avoid it if its 60m..help! mayb i shud do Q5 incase its 100m..

NADA

willowmegs wrote:

Me!

Me too. It's easy enough. Make sure you analyse the accounts in the last section under at least these four headings

Gearing
Liquidity
Profitability
Dividends/dividend policy.

DonaldDuck

SQgal wrote:

anyone help me with suspense? ive dat kums up as a 100m im dead!! hoping to avoid it if its 60m..help! mayb i shud do Q5 incase its 100m..

Which adjustment do you need help with ? Give year and part and I'll do it out in paint.You should pray if it comesu p as 100markers,you get 40marks for just recorrecting the balance she they give you!

Nerd007

ahhh.... im so worried that published is gonna come up as a 100marker. tried one this afternoon and didnt have a clue! any tips on how to do them?

willowmegs

Nerd007 wrote:

ahhh.... im so worried that published is gonna come up as a 100marker. tried one this afternoon and didnt have a clue! any tips on how to do them?

it came up last year i think so prob wont come up this year

DonaldDuck

Nerd007 wrote:

ahhh.... im so worried that published is gonna come up as a 100marker. tried one this afternoon and didnt have a clue! any tips on how to do them?

My tip is cry.Ive decided to leave them out since theyre to damn difficult

xnightwishx

Does anyone have the manufacturing accounts revised? Would they be so cruel? Coz if they do I'm fuked!! They've been really cruel with some papers this year, what do you think? If they change everything I'm DEAD! I got the DIT best student award thingy and I got 87% in the mocks but if they change it it's all going to go downhill...

NADA

xnightwishx wrote:

Does anyone have the manufacturing accounts revised? Would they be so cruel? Coz if they do I'm fuked!! They've been really cruel with some papers this year, what do you think? If they change everything I'm DEAD! I got the DIT best student award thingy and I got 87% in the mocks but if they change it it's all going to go downhill...

There are alot of us going to drown if that boat goes down. Everybody is praying they wont. The apprehension mounts.