accounting predictions

muffinman · 14-06-2008 5:44pm

Soby wrote: »

It was up last year as a joint one with bank holder which IMO was horrible

I know.. Totally.. I mean it took at least 5 more minutes I'd imagine, which is pretty important in accounting (for me, anyway).. But I wouldn't bet on a repeat of a double this year.

xxniamhxx · 14-06-2008 9:27pm

tabs came up in 2006 and 2007 so i dont think it will come up this year.. published club/farm cash flow dep. of fixed assets incomplete 2, creditor control,suspense flexible budgeting marginal and absorption costing! hopefully... thats what i want anyway!! xx

Ekels · 14-06-2008 10:42pm

Can someone tell me whether it would be easy to teach oneself Cash flow in one to two hours?

blue-army · 15-06-2008 12:18am

Ekels wrote: »

Can someone tell me whether it would be easy to teach oneself Cash flow in one to two hours?

I'd doubt it......
Why is this question so widely tipped anyway? It hasn't been on in 10 years. I would have thought they phased it out...

abcxyz123 · 15-06-2008 9:39am

blue-army wrote: »

I'd doubt it......
Why is this question so widely tipped anyway? It hasn't been on in 10 years. I would have thought they phased it out...

there was a cashflow in 2004!

louis626 · 15-06-2008 10:02am

Ekels wrote: »

Can someone tell me whether it would be easy to teach oneself Cash flow in one to two hours?

its mostly just about the layout

muffinman · 15-06-2008 11:24am

abcxyz123 wrote: »

there was a cashflow in 2004!

as a 60.. He means 100

Catikins · 15-06-2008 11:40am

Ekels wrote: »

Are you studying anything else but them three for section 2?

Nope. And I'm fairly confident in doing so. I'm not much of a risk taker but i really doubt 2/3 of them won't come up.
I will eat my hat if it's ratios, farm accounts and incomplete accounts (the one that came up last year, type B i think) for 100 marks.
It's not hugely risky anyway, it's 3 out of about 8 possible topics for 100marks with ratios being almost a certainty.. almost.

blue-army · 15-06-2008 1:34pm

abcxyz123 wrote: »

there was a cashflow in 2004!

That was a 60 mark question....I was talking about the 100 marker.

**simone** · 15-06-2008 1:34pm

Ekels wrote: »

Can someone tell me whether it would be easy to teach oneself Cash flow in one to two hours?

I reckon you defo could. I learned em off for the mocks within 2hrs..

Provided you have a sollution though.. just read over the sollution and then try it yourself, look back when seriously stuck and then eventually you'll do it without looking back

Does anyone else find it IMPOSSIBLE to study acc this wkend???? Its my last exam and i just CANNOT motivate myself

Steveo12345youg · 15-06-2008 3:06pm

**simone** wrote: »

I reckon you defo could. I learned em off for the mocks within 2hrs..

Provided you have a sollution though.. just read over the sollution and then try it yourself, look back when seriously stuck and then eventually you'll do it without looking back

Does anyone else find it IMPOSSIBLE to study acc this wkend???? Its my last exam and i just CANNOT motivate myself

Ya me too last exam nd all lol

tex mexx · 15-06-2008 3:32pm

blue-army wrote: »

That was a 60 mark question....I was talking about the 100 marker.

but if they came up as a 60 then how could they have been phased out?

yeah,im findin it impossible to study it too! and i have econ to study for wednesday!:o

louis626 · 15-06-2008 5:18pm

These are the questions which I would be confident in doing if they came up:
Suspense
Cashflow
club
tabular
Incomplete type B
Depriciation
Control a/cs

Marginal
Production budgeting

blue-army · 15-06-2008 5:38pm

Does anyone know how to calculate Dividends paid & Dividends proposed in the P+L A/C in Published accounts? eg 2005 Q6...

thanks.

Paddy001 · 15-06-2008 6:55pm

But for a Q1, our teacher said they may integrate published accounts into it..... May happen, I don't think so, but it could and would be easy if they dd. Just to let ya know! My predictions:
Q1 Manufacturing
Q5 Ratios (Not defo but would cause a war if it wasn't on)
Q6/7 Incomplete records/Club/Suspense or maybe even a farm account or service firm, but mot probably incomplete/club/suspense
Q9 Production.
That's my predictions and that's what I'm doing.

Paddy001 · 15-06-2008 7:03pm

blue-army wrote: »

Does anyone know how to calculate Dividends paid & Dividends proposed in the P+L A/C in Published accounts? eg 2005 Q6...

thanks.

Interim ordinary: €15000
Interim Preference: €9000
Total Interim(Paid during the year): €24000 (Total paid, 15+9)

9% Pref shares, 200,000 @ €1 so preference divident for year is 9% of 200,000 so €18000. 9000 Paid so:
Preference due: €9000

Ordinary shares are 400,000 7c total divident, on €1 shares so its 7% of 400,000 so €28000 is total ordinary divident, so 28000-15000=13000 ordinary due.

Total divident paid: €24000
Total divident due: €22000

(These are workings from the question you specified)

blue-army · 15-06-2008 7:30pm

Paddy001 wrote: »

But for a Q1, our teacher said they may integrate published accounts into it..... May happen, I don't think so, but it could and would be easy if they dd. Just to let ya know! My predictions:
Q1 Manufacturing
Q5 Ratios (Not defo but would cause a war if it wasn't on)
Q6/7 Incomplete records/Club/Suspense or maybe even a farm account or service firm, but mot probably incomplete/club/suspense
Q9 Production.
That's my predictions and that's what I'm doing.

farm accounts have never come up as a 100mark question.

louis626 · 15-06-2008 7:43pm

blue-army wrote: »

farm accounts have never come up as a 100mark question.

our teacher said she thinks it could be there as a 100 mark.
that would be a disaster though.

Mars Bar · 15-06-2008 7:45pm

All they have to do is add a balance sheet. I did them at grinds last year, seemed easy enough but we don't do them in our class coz we are all about Q1...

blue-army · 15-06-2008 8:34pm

By the way,
does anyone know what goes under 'Other Creditors' in the balance sheet in the 2005 Published Question?

thanks...

Paddy001 · 15-06-2008 9:32pm

blue-army wrote: »

By the way,
does anyone know what goes under 'Other Creditors' in the balance sheet in the 2005 Published Question?

thanks...

When you work out the debenture interest due, there is 4000 still due, there is 9500 Auditor's fees due and 50,000 directors fees due, add these up and you get the Other Creditors figure.

annie19 · 15-06-2008 11:25pm

as far as i know ratios doesnt have to be on the hnrs paper and it has to be on the pass paper. it will be on. dont be worring
im 99% sure mu uncle is an accounting teacher, im banking on d Q and i trust him

blue-army · 16-06-2008 12:12am

Would it be enough just knowing,

Manufacturing
Club
Published
(some) Incomplete Type B
Production
Flexible

I'm not looking for a high grade...I'm just trying to get a pass....

whateva eva eva · 16-06-2008 8:59am

^^^If you're stuck for time what you have mentioned is your best bet but if you have any extra time I would look over a soletrader or interpretation.

Could someone help me with this suspense working:
2006 Q7(iii)
A debtor who owed o meara(the owner) 1000 sent a cheque for 800 and 150 in cash in full settlement. this was correctly recorded. However no entry was made for the dishonouring of the cheque or of the writing off of the remaining debt because of bankrupcy.

I know the answer but I don't understand the workings. Any help would be great!

betsymagoo · 16-06-2008 10:52am

ah wat all goes into other creditors in published accs......?!?!

BCawley · 16-06-2008 11:04am

betsymagoo wrote: »

ah wat all goes into other creditors in published accs......?!?!

Definetly Auditors Renumeration and Directors Fees, and possibly Debenture interest due I'm not so sure off hand

How many points are sufficient in the comments on the company/shareholders in Interpretation accs? Soo much to write

betsymagoo · 16-06-2008 11:16am

BCawley is that the (B) part.... in the mock markin scheme here they say that 7 points are required... 8 marks for the first 3 (profitability, dividend policy and liquidity) and 4 marks for any other four....

it should also be on www.examinations.ie....

whateva eva eva · 16-06-2008 11:59am

I think it depends, if you're asked about a person investing in the company you generally have to give advice on gearing, liquidity, profitability, dividend policy and three/four others but if you have to give advice about a depenture the main 3/4 is usually profitability, liquidity, dividends, interest cover and real value of fixed assets(to use as collateral). I usually try to jott down everything above plus maybe 3 or 4 others.

Any takers for my previous question?

postalservice · 16-06-2008 1:18pm

whateva eva eva wrote: »

^^^If you're stuck for time what you have mentioned is your best bet but if you have any extra time I would look over a soletrader or interpretation.

Could someone help me with this suspense working:
2006 Q7(iii)
A debtor who owed o meara(the owner) 1000 sent a cheque for 800 and 150 in cash in full settlement. this was correctly recorded. However no entry was made for the dishonouring of the cheque or of the writing off of the remaining debt because of bankrupcy.

I know the answer but I don't understand the workings. Any help would be great!

1. credit debtor a/c 1000
2. debit bank 800, cash 150 and disc 50 ( all of this was done correctly)
3. cancel bank 800 and disc 50 and put the 850 on debit side of debtors a/c
4. write off the 850 by putting it on cred side of debtors and put this on debit side of bad debt

Result.....
Bad debt debit 850
Bank credit 800
Disc credit 50

I think! its hard to do acc on a laptop:p:D:pac:
hope it helps and isnt 2 confusing

Soby · 16-06-2008 1:26pm

betsymagoo wrote: »

ah wat all goes into other creditors in published accs......?!?!

Other Creditors: (deb int)4000+(A.Fees)9500+(D.Fees)50,000=63,500

thats for 2005

accounting predictions

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