Accounting predictions Q.6,7

justbringit89

powerofone wrote:

S2-- service and incomplete records (working back method)

FYI There callled incomplete Type B

Mushy

E92 wrote:

Section 2
Q5- Ratios again, they're gonna keep asking them till people do well in them(worst scoring question 2 by a mile so I'm told)
Q6 - Incompletes, probably Balance Sheet backwards method, but wouldnt rule out Cash Book method at all(they haven't done it every second turn in the past, so why would they now?)
Q7 - Service(maybe club)

As an outside chance, we could see a 100 marker Cash Flow (hasn't been asked as a 100m since 98) and published (was a 60 last year, wont be a 60 this year, unlikely to turn up as a 100, but you never know with the SEC)
AS for section 1, you're better off doing the 2 60 markers. Its faster to do 2 60s than one 120 for a start. You have a choice, and the adjustments are way easier, plus most of the stuff you have to learn for it could well turn up as a 100marker instead. Cash Flows, Tabs, Club, Service, Suspense, Farm(the only type of question in the whole leaving Cert never to have been asked since the current syllabus has been introduced), Published turn up in both sections. But stick with what you feel most comfortable with.

Can do a Company Final in 35 mins max, The others would be 40 mins, so wouldnt consider it faster.

Farm Accounts came up last year. As for saying Ratio question is the worst scoring, it is true. But my teacher also said they mark it very hard, as it comes up in only two forms(shareholders/debenture holders), and so if you do it, you should know it extremely well enough(if you've studied enough for it of course;) )

A combination of RAtio Analysis, Incomplete Type B and cash Flow would be a sweet sweet paper. Came up in our mocks, but I did nowhere near enough study for it. Measly 70%, that could so easily have been 90%+.

lemansky

Departmental won't come up.They are unofficially told at inservice to leave it out.
I did hear however that they are thinking of changing what questions are coming up so as to break away from whatever trends have emerged.Eg company accounts is widely predicted for q1....rumour has it that 'they' may decide that this year is to be the year that they break the trend which that prediction is based on.Also based on that the rumour I've seen above that ratios may be dropped could turn out very true,if they're looking to mess the paper up.

colm-ccfc84

lemansky wrote:

Departmental won't come up.They are unofficially told at inservice to leave it out.
I did hear however that they are thinking of changing what questions are coming up so as to break away from whatever trends have emerged.Eg company accounts is widely predicted for q1....rumour has it that 'they' may decide that this year is to be the year that they break the trend which that prediction is based on.Also based on that the rumour I've seen above that ratios may be dropped could turn out very true,if they're looking to mess the paper up.

Is that a definite to leave out departmental?
I don't think company will be left out for 3 years, I know he likes question one. I can't see him 'hitting' those who try it. Hopefully they do drop ratios which will give a greater range in section 2.

Genius16

Ill give you 100/1 that they drop ratios and put on cash flow (inclusive)
1000/1 they put up a departmental and drop ratios
This is the course 10th year why should we be the unlucky ones....
I mean not putting on ratios for 1st time in 10 years........unlikely

colm-ccfc84

Once departmental isn't on I don't care.

TommyK_The-DJ

What are the chances of a Manufacturing coming up??

lemansky

colm-ccfc84 wrote:

Is that a definite to leave out departmental?
I don't think company will be left out for 3 years, I know he likes question one. I can't see him 'hitting' those who try it. Hopefully they do drop ratios which will give a greater range in section 2.

Well our teacher and many like him around the country only give departmental accounts a few seconds in class-and that is to tell us not to worry if we hear others talking about them..So leaving them out is a risk you take officially, but loads of people have never even heard about them except for having read about them on boards, which says that the teachers who don't teach it know its okay not to.

I only heard about the ratios rumour on this thread myself but there is defo talk about mixing up the pattern on q1 in the next few years, and there is no reason as to why we won't be the year......but as I say its just as likely they won't-but don't roll on any one prediction for question 1 unless you're desperate.

Shox

DO ye mean that there could be no question 1 at all.... no final accounts... could nt be.. or do ye just mean could it could be any of the three sole/ company/ manufacturing???

Mushy

There is every chance that Manufacturing could come up Tommy -K.

Shox, I'd be doubtful about a sole trader, as it came up last year. Despite these incessant rumours about mixing up the trends, I'd doubt they'd put sole trader on again. Manufacturing is the worst one I think.

Shox

ya i agree, manufacturin takes about 6/7 mins longer

I was wonderin does anyone plan on startin rulin out colums and writin the headings the minute they go in? in my exam hall we go in 10 mins before the exam and answer booklets are on the table!!!

Mushy

Ya dont have to rule out anything for accounting. Just put the heading in, but no lines everywhere. Can keep it under a heading without the need of a ruler. When I'm finished writing out everything, I may put them in, but not before. Better remember to use a pencil. So much better

lemansky

Shox wrote:

DO ye mean that there could be no question 1 at all.... no final accounts... could nt be.. or do ye just mean could it could be any of the three sole/ company/ manufacturing???

Manufacturing or company.Sole trader isn't likely.I don't really see the paper being messed around but it could be.

Shox

Mushy wrote:

Better remember to use a pencil. So much better

Some of my friends told me not t use pencil!!! Is that mad or what?

Fuzzy_Dunlop

Yeah i doubt they're gonna mess around with everything this year, they'd have to be right saps to do that, maybe they'll get rid of the ratios and put in something easy like club/service and incomplete(and whatever other ****e), cos if they put get rid of it and then put up cash flow and published(not so bad i guess), they can... stick something....somewhere

lemansky

playa3 wrote:

they can... stick something....somewhere

Nah they'd enjoy that too much!

Mushy

Shox wrote:

Some of my friends told me not t use pencil!!! Is that mad or what?

Well, put it this way. If you make some mistake, which looks better: a scribbled out pen mark with barely legible figures over the scribble of pen. OR: just a space where the right figure is cos you were able to rub it out and keep it neat? Take your pick. If its all right and you have time at the end, then go over it in pen if you want. It is up to you, but I dont see the disadvantages of pencil writing.

whatshername!!

Shox wrote:

Some of my friends told me not t use pencil!!! Is that mad or what?

Thats because if you write in really light pencil some of it might have faded by the time you get them rechecked in september. Personnally i always do my accounting in pencil.

I hope ratios come up i love them. Is anyone else worried about the theory? Lately there putting more and more in and its starting to worry me. I did a/c coz i thought there was no theory. Its not fair.:(

euwwy deuwwy

The theory questions are a bitch, Im guessing that if servce firms (which has never had theory attached) comes up they'll change it slightly to shorten it and then add some theory. So not only will there be theory weve never seen before but also an alteration in the question. I found out aswell that they are capabe of putting a maxmum of 80 marks worth of theory on the paper!!!!!!! That would be a stinger. hmmm havent used that word in a while

BTW does nyone know where i can find a sample cash flow 100 mark answer? I have the 98 question nd the mock 04 question but not the answer 4 either!!!!!!!!!

colm-ccfc84

There are some in the book!

euwwy deuwwy

Genius16

Help with ratios required :eek:
Im having a problem with the notes.
In the dividends section, How do you calculate the percentage of profits paid out?
Also in the "proportion of shares owned" section. Hard to explain this...just look here....page 10
How do you get 23 percent?
http://examinations.ie/archive/markingschemes/2004/LC032ALP1EV.pdf

E92

150000 X 100 = 23%.
650000 1


€650,000 is Ord Share Cap(OSC)
€150,000 is OSC introduced. I'm surprised that there is no reference to PSC. If you include PSC you get a different answer.

whatshername!!

80 MARKS WTF:eek: thats not fair im so screwed

Genius16

E92 wrote:

150000 X 100 = 23%.
650000 1


€650,000 is Ord Share Cap(OSC)
€150,000 is OSC introduced. I'm surprised that there is no reference to PSC. If you include PSC you get a different answer.

Me too....Thanks
Whsat about the percentage of profits paid out? in the dividends section?

md99

I hope Cash Flow shows up as 100 marker...lovely quick interesting question...

melsman

md99 wrote:

I hope Cash Flow shows up as 100 marker...lovely quick interesting question...

agreed. f**k all theory to it too!

euwwy deuwwy

Anyone doing the 60 markers? I was thinking of going over one or two to be safe. Maybe club, service nd control? Yeh/no/maybe?

cormac17

yea im doin da 60 markers!!!!,,I have been goin over club/service/control/revaluation nd depreciation!!!!,,,hope 2 4m that list comes up!! hate suspense accounts!!:(

melsman

im not doin 60 mark questions unless departmental Q.1 comes up...so no im not doing 60 mark questions!!:D
farm accounts cant come up as 100 mark can they??