Service Firm Vs Club Account

Garykelleher

Before 2009, Service Firm Accounts had come up every 2nd year, including a double from 2000 -2001. They haven't come up since 2007, since they replaced it with Farm accounts in 2009. Club accounts came up in 2008, and only 2 other times since 1999.
Looking at that, i was honestly surprised when my teacher predicted Club Accounts.

The only thing that re assured that prediction was that they were on the mocks, and every mock from what I've heard. But so was Eavan Boland, but when we look at the actual facts before everyone starts hopping on the bandwagon, Rich was on the course last year and didnt come up then, anybody who had not heard a tip could have easily picked Rich.

I have a feeling that everyone is sure of club accounts because they were on the mocks. Service firm has never gone three years without coming up, and thats going back to at least 1997 i haven't checked back further. IMO they are a much safer bet.

EuropeanSon

Are you including 2,3,4 in that?

yesno1234

Yeah you are including questions 2,3,4 in that, don't. Anybody that's predicting it is predicting it for questions 6 or 7, questions 2,3,4 have nothing to do with this it's an entirely different section.

Princess3

I hope Club Accounts come up coz i know them really well
Also hoping for Company Accounts and either Marginal or Flexible Budgeting!

Garykelleher

Taking just 100 marks into account. Club = 02 and 04. Service = 01, 03, 07
Wouldnt be surprised if neither came up, with a service or club as 60 marker.

Cian92

It was that infamous 08 exam which ruined the pattern. However I still have a feeling in my bones it will be club and as a 100 marker. I wouldn't completely discount service though. Another one to watch is Incomplete, 60 or 100, I could be completely wrong but I have heard rumours.

The OP is correct in including the 60 markers in the pattern. The 60 makers have every bearing on the 100, the same qestion will not come up in both, despite it happening in 1996 where Incomplete was on both sections.

**Timbuk2**

People often predict based on the Mocks, which is stupid. I think Service is more likely than Club, but my teacher doesn't. But both me and my teacher agree that it is very unlikely that we will get an entire flexible budgeting question. They are a bit too easy and that departmental have apparently been trying to move away from complete flexible budgeting questions, hence the half/half thing they did in Q8 in 2008.

You still need to learn flexible though, as it can appear in Q8

Ashashi

I am hoping club appears, they are grand questions, service are a bit tougher. Cash Flow could come up, same as suspense, or even tabular. They could even repeat incomplete and published, which I haven't been taught because my teacher thinks it would be "pointless" if they repeated.

Or show how many students prepared for the exams, but whatever.

**Timbuk2**

I would simply love if Cash Flow Statements were a 100 mark question. For 40 extra marks, and around 15 extra minutes, all you have to do extra is the Abridged Profit and Loss and it only takes about 3 minutes to do

Ashashi

Suspense is my favorite question by far, once you get the general journal down, it takes about 10 minutes. Cash flow I amn't a big fan of, keep forgetting the headings. Club are awesome, service are a little tougher, but still grand. Interpretation is always a toughie, but I can do it. Marginal is amazingly simple, production budgets are grand and flexible I can do in my sleep.

Company final are awesome too, just long.

**Timbuk2**

I'd also like a Tabular Statement 100 mark but I think that came up last year. Once you rule the lines, you can do them very quickly.

Aisling x

my teacher thinks service firm, and was seriously surprised when they weren't on the pre. i'd do both though...

colddesert

awh i hope its a company! easily get 110 up in that! hope club and cash flow then! what are peoples predictions for budgeting and costing????

**Timbuk2**

colddesert wrote: »

awh i hope its a company! easily get 110 up in that! hope club and cash flow then! what are peoples predictions for budgeting and costing????

Yea I'm hoping for company, but hopefully the adjustments are similar to previous years. It takes too long to have to figure out what to do next.

For budgeting: same as 2009 budgeting
Costing: Marginal mixed with either stock valuation or absorption, possibly even flexible budgeting.

ColSheehan

Hmm I'd love it if the following came up :
Suspense, Club A/C, Cash Flow, Interpretation and for the Management section: Flexible Budgeting/Product Costing
Wouldn't mind a Service Firm Q either

EuropeanSon

My ideal Paper:
Q1. Company Final A/C
Q6. Suspense
Q7. Club/Service
Q8. Marginal
Q9. Flexible

Then I'd do 8 & 9, it'd be great.

flaming poney

EuropeanSon wrote: »

My ideal Paper:
Q1. Company Final A/C
Q6. Suspense
Q7. Club/Service
Q8. Marginal
Q9. Flexible

Then I'd do 8 & 9, it'd be great.

I would fellate that paper!

**Timbuk2**

My ideal paper.

Q1 Company Final a/c with no strange adjustments
Q6 Cash Flow Statement
Q7 Tabular
Q8 Marginal
Q9 Flexible

That would simply be excellent, but very unlikely

flaming poney

Does nobody plan on doing interpretation?

SantryRed

Should we have studied q8 and q9? We've only done nine. I'm going for an A1 and that could seriously screw me over.

EuropeanSon

SantryRed wrote: »

Should we have studied q8 and q9? We've only done nine. I'm going for an A1 and that could seriously screw me over.

You should be ok, but they did mess it up one year (I don't recall which) when they put a bit of Q9 into Q8. They've never done the opposite.

EuropeanSon

flaming poney wrote: »

Does nobody plan on doing interpretation?

Not if I can help it. It's a hideous question. I know of 2 correcters who, in their ~400 scripts, allegedly got zero over 90 mark answers on Q5.

SantryRed

Did they not put marginal costing into Q9 last year no??

EuropeanSon

SantryRed wrote: »

Did they not put marginal costing into Q9 last year no??

Not AFAIK. It was a straight Cash Budgeting Q.

**Timbuk2**

2009 Q9 was Cash and Production Budgeting Mixed. It was more challenging than the usual Q9.

anothernight

flaming poney wrote: »

Does nobody plan on doing interpretation?

I'm planning on doing it. I don't find it that hard at all. The formulae are very easy and are usually worth nearly half the marks. The notes you have to write at the end are always the same. State the obvious ("ROCE has increased by x% from y% in 2005 to z% in 2006") and then throw in some sort of comment, like "This indicates that the firm is earning 3 times the return from risk-free investment which is currently at 2.5%."

If you learn which result to compare under each heading, and what type of comment you should do for each, it's actually quite an easy question. Very handy too because it's come up every year and will probably continue to do so.
For the formulae, flashcards are your best bet.

Garykelleher

flaming poney wrote: »

Does nobody plan on doing interpretation?

I think most people are, just when they're posting their "Ideal Paper", they don't include ratio's beacuse its assumed they'll be up.

For the record, I'll be doing ratio's unless its suspense AND tabular as 6 and 7. Anybody that studies business should be getting close to full marks in the theory, and its pretty hard not to get good marks in part A