ACCOUNTING AFTERMATH

The___________

Matthew712 wrote: »

Q1 €1089180 -- Use of the word 'incorporating' is incorrect and inconsistent with earlier accounting papers.
Q7 €830710 but note (iii) ambiguous as it didn't specify if the vehicles exchanged were 'fixed assets' or 'goods for resale' (An error in the paper in my view) note (iv) also ambiguous as not clear if cash account was credited or not (another error in my view) part (e) many errors affect the balancing of a trail balance but the trial balance will still agree. ie the totals many agree but are wrong. Well done <modsnip> - you messed up again. No chance you were in that minibus sold!
Q8 (a) G/P €47900 (b) SP €26818.75 (c) €9600 over absorption

Q6 Too long
Q5 OK
Q9 Should have specified when equipment was bought (another recurring error which leads to various correct solutions.

I hope that is the correct answer! I had it too-was a complete guess how to do that question as well :L

stekill

any body have any idea the range of marks that could be lost from that mini bus adjustment???im pretty sure every other adjustment was correct but im wondering how many marks can be lost from a single adjustment like that??

how much out of 100 would be lost??? thanks

EuropeanSon

stekill wrote: »

any body have any idea the range of marks that could be lost from that mini bus adjustment???im pretty sure every other adjustment was correct but im wondering how many marks can be lost from a single adjustment like that??

how much out of 100 would be lost??? thanks

Perhaps 8-12 lost, if you got the wrong profit figure too. Less if it's only a small mistake and you showed workings.

The___________

EuropeanSon wrote: »

Perhaps 8-12 lost, if you got the wrong profit figure too. Less if it's only a small mistake and you showed workings.

Had a look over the sole trader there and as far as I can make out my only mistake was in the restocking charge working-I added it on to CS along with Cred/Pur for some reason!
I reckon that will cost me 8-12 marks overall-thoughts?

EuropeanSon

The___________ wrote: »

Had a look over the sole trader there and as far as I can make out my only mistake was in the restocking charge working-I added it on to CS along with Cred/Pur for some reason!
I reckon that will cost me 8-12 marks overall-thoughts?

Not that many. If you showed workings, you'll lose maybe 2 for closing stock and get 4 of 6 for profit, provided the MS is easy, which it should be. No workings means you'll lose all the closing stock marks, which is 4 or 5.

TRAPASARMY

The___________ wrote: »

Ha me too where have you applied to for next year?

ucc accounting hopefully if not Law and Accounting UL yourself??

Gaga OhLaLa

Doff wrote: »

That paper was horrible. Riddled with errors,

Where were the errors that were meant to be in the paper?

**Timbuk2**

In one of the Suspense adjustments, the error was a debit in the cash book, so you had to credit it to correct this. Were they referring to the cash acount or the bank account? I said bank as otherwise you would get a negative cash figure which is cobblers!!

clairebearxx

pretty sure it was bank account timbuk2..somethin similar came up in 08 i think!

clairebearxx

TRAPASARMY wrote: »

ucc accounting hopefully if not Law and Accounting UL yourself??

snap! i want accounting and finance in dcu!:D

TRAPASARMY

clairebearxx wrote: »

snap! i want accounting and finance in dcu!:D

Still accounting is accounting:D!!! Whats actuary like do you know?

clairebearxx

TRAPASARMY wrote: »

Still accounting is accounting:D!!! Whats actuary like do you know?

em my brother was on about being an actuary for a while! i think its like in insurance when you have to assess the damage in an accident and see how much of a claim they get..something like that! serious number crunchin'!!!!:D

pathway33

yesterdays accounting exam supposed to be discussed on the midday programme on TV3 at 11.50 for those of you who have televisions

TRAPASARMY

clairebearxx wrote: »

em my brother was on about being an actuary for a while! i think its like in insurance when you have to assess the damage in an accident and see how much of a claim they get..something like that! serious number crunchin'!!!!:D

ya id say il stick with acc. Id say il be safe with points. Thank God were 480 last year. cant see them going mad??

Eire-Dearg

pathway33 wrote: »

yesterdays accounting exam supposed to be discussed on the midday programme on TV3 at 11.50 for those of you who have televisions

I have a television.

Ashashi

**Timbuk2** wrote: »

In one of the Suspense adjustments, the error was a debit in the cash book, so you had to credit it to correct this. Were they referring to the cash acount or the bank account? I said bank as otherwise you would get a negative cash figure which is cobblers!!

You always touch bank as far as I remember, I still got a huge overdraft though, but it worked anyway

Cian92

pathway33 wrote: »

yesterdays accounting exam supposed to be discussed on the midday programme on TV3 at 11.50 for those of you who have televisions

Is it about the exam itself? Or just about the papers missing pages?

pathway33

Cian92 wrote: »

Is it about the exam itself? Or just about the papers missing pages?

Not too sure. I just fell upon it on twitter. And this

"On Midday today - First up another blunder in the Leaving Cert as students in Dublin are given an exam with missing questions we ask is the exam system the best way to assess students? Do you have any exam horror stories of your own - let us know and join the debate at http://www.facebook.com/tv3midday "

oasis-fan

hey jjust wonderin what figures ye got individually?
q1 - p+l - 100980?
bal sheet - 1097580? it worked out but i know some of ye got a different answer. how much would you lose for a couple of small mistakes?
q6 reserves -233800
shop p+l - 1600
p+l 402780
q7 suspense 6600
net profi - 81610
bal sheet 831010
q8 a) c/stock 7700
trading a/c 31500
b) 25746??
c) not a clue!
cheers

clairebearxx

TRAPASARMY wrote: »

ya id say il stick with acc. Id say il be safe with points. Thank God were 480 last year. cant see them going mad??

na accounting points normally stay static! it all depends on the results and demand though! only time will tell!!:)

clairebearxx

pathway33 wrote: »

yesterdays accounting exam supposed to be discussed on the midday programme on TV3 at 11.50 for those of you who have televisions

i missed the bit about accounting..anyone catch what was said?

pathway33

clairebearxx wrote: »

i missed the bit about accounting..anyone catch what was said?

Very little. Teresa Lowe said how could you choose your questions when you didn't know all the options. Deirdre De Burca said it's an example of how everything has to be right. Then they just spoke about the leaving in general and how they are still remembering snippets of poems 20 years after the leaving and how great that is. You'll probably get it on playback if interested.

clairebearxx

pathway33 wrote: »

Very little. Teresa Lowe said how could you choose your questions when you didn't know all the options. Deirdre De Burca said it's an example of how everything has to be right. Then they just spoke about the leaving in general and how they are still remembering snippets of poems 20 years after the leaving and how great that is. You'll probably get it on playback if interested.

ah no its ok! i thought they might say if the marking scheme will go easier on us now because of the error or not.! hope they do!

cf10

If they do go easier on the marking scheme will it just be for the people in dublin?

Thats fair enough i suppose but wouldn't mind them going easy on the rest of us too cos that paper was so hard!!

The___________

oasis-fan wrote: »

hey jjust wonderin what figures ye got individually?
q1 - p+l - 100980?
bal sheet - 1097580? it worked out but i know some of ye got a different answer. how much would you lose for a couple of small mistakes?
q6 reserves -233800
shop p+l - 1600
p+l 402780
q7 suspense 6600
net profi - 81610
bal sheet 831010
q8 a) c/stock 7700
trading a/c 31500
b) 25746??
c) not a clue!
cheers

Hmm I think your figure for the Firms p/l looks a bit big,did it balance in the end? You have the right figure for reserves and shop profit though,

C/S in Q.8 is wrong,looking at your figure I would guess that you left out the opening stock at the beginning of the stock sheet-obviously this affected your trading A/C as well
For part (b) that looks correct I think it was a figure in and around that anyway although mine had 75c on the end of it I think

The___________

cf10 wrote: »

If they do go easier on the marking scheme will it just be for the people in dublin?

Thats fair enough i suppose but wouldn't mind them going easy on the rest of us too cos that paper was so hard!!

The correctors will have no way of knowing what part of Ireland each script is from I'd imagine-that's one of the basic principles of the correction process anonymity.

**Timbuk2**

I think those people getting 45 minutes extra is compensation enough and it's very unfair if those students are marked any easier than us! It's a terrible thing to happen but I would kill to have 45 minutes extra in accounting!

The___________

**Timbuk2** wrote: »

I think those people getting 45 minutes extra is compensation enough and it's very unfair if those students are marked any easier than us! It's a terrible thing to happen but I would kill to have 45 minutes extra in accounting!

That was one seriously long paper as well! In the mocks I finished up with an hour and 20 mins left-yesterday it took 2hrs and 50mins to complete

Cian92

The___________ wrote: »

The correctors will have no way of knowing what part of Ireland each script is from I'd imagine-that's one of the basic principles of the correction process anonymity.

One of the teachers in our school, said they know which school they are correcting, and have a list of all the students. They just don't know which script corresponds with each name.

RexMundi

The___________ wrote: »

The correctors will have no way of knowing what part of Ireland each script is from I'd imagine-that's one of the basic principles of the correction process anonymity.

They'll have to affix a note to the scripts affected.

As someone who was in an exam centre with the dodgy scripts who almost certainly got the marks I wanted anyway, I can tell you that a lot of people were very badly affected by the hash up. It is almost inconceivable that examiners would not know if the scripts they were marking were affected by a huge cock up on behalf of the SEC. Some of the lads depending on high points from Accounting were in a right state for a good bit into the exam, could only have adversely affected them.

JellyBeans92

cf10 wrote: »

If they do go easier on the marking scheme will it just be for the people in dublin?

Thats fair enough i suppose but wouldn't mind them going easy on the rest of us too cos that paper was so hard!!

I'm not sure how that would work, like only marking people in South Dublin easier?..
Wouldn't that sefeat the point of fairness in the LC, since these students were given equal or even more time than the rest of us to complete the paper.

Like I found in that paper I was writing down to the last minute, and I can normally finish something like a Q1 in 40mins, the Service firm took me as long as my Q1 (Which actually took me 50mins.). I would have been more than happy with that extra 30-45 mins some centres got

I know it was a panic for them, but the rest of us Accounting students around the country were sent into a panic when the Irish Times said the was going to be an error on the HL paper..
I dunno about anyone else, but I was worried b/c I thought that it must be a BIG if we all know BEFORE the exam actually starts?

Does anyone think there would be as much media coverage if the centres affected were in let's say Wexford.. or Tipperary?.

RexMundi

JellyBeans92 wrote: »

I'm not sure how that would work, like only marking people in South Dublin easier?..
Wouldn't that sefeat the point of fairness in the LC, since these students were given equal or even more time than the rest of us to complete the paper.

Like I found in that paper I was writing down to the last minute, and I can normally finish something like a Q1 in 40mins, the Service firm took me as long as my Q1 (Which actually took me 50mins.). I would have been more than happy with that extra 30-45 mins some centres got

I know it was a panic for them, but the rest of us Accounting students around the country were sent into a panic when the Irish Times said the was going to be an error on the HL paper..
I dunno about anyone else, but I was worried b/c I thought that it must be a BIG if we all know BEFORE the exam actually starts?

Does anyone think there would be as much media coverage if the centres affected were in let's say Wexford.. or Tipperary?.

Dear God.. you have some issues.

You really have no idea the panic it caused. We spent 15 minutes of the exam not doing anything since we presumed we'd have to resit it. The invigilators didn't know what to do.

The 20 minutes extra we got did not make up for the lost time overall. It also did not make up for the panic it caused. If you think that thinking that there was some error that people knew about is as bad if not worse than seeing your paper is a complete shambles and no one knows what to do about it, you are severely misguided.

Also, you have a serious chip on your shoulder against South Dublin. The SEC made a massive hash up here. So much depends on the Leaving and there is so much pressure about it that the least the SEC should do is check the papers. Remarks like your final one really bug me. Of course this would get the same coverage if it happened anywhere else. It was an absolute disgrace.

Between this, the shambles that was the Junior Cert Business Paper and minor errors on such a ridiculous number of other papers (Physics yesterday for example), the SEC should be ashamed of themselves.

pathway33

plus students in oatlands college stillorgan got an extra 50 minutes but students in blackrock only got an extra 10 minutes. So you can't be equally easy on the schools with the dodgy papers. Seems there was no standard emergency procedure in place by the SEC as to how much time to allow students. Seems it was left up to the individual invigilators.

**Timbuk2**

I think it's irrelevant whether it was South Dublin, North Dublin, Mayo or even Libya (they do the LC in some parts of Libya!)

Even if there was initial confusion, and panic, you still got the full time from when you got the full paper - so if you had worked yourself into such a fuss that you did nothing for 45 minutes, you didn't lose out. Those that had the ability to compose themselves could have nearly had their Q1 done in that time. They were then presented with the paper, 3 hours, and could do the rest of their questions. Imagine only having 3 questions to do in 3 hours. They could spend about 1hr 10 mins on each 100 mark and 40 minutes on budgeting.

In the meantime other students from around the country had to squeeze every single minute of the exam

Cian92

**Timbuk2** wrote: »

I think it's irrelevant whether it was South Dublin, North Dublin, Mayo or even Libya (they do the LC in some parts of Libya!)

Even if there was initial confusion, and panic, you still got the full time from when you got the full paper - so if you had worked yourself into such a fuss that you did nothing for 45 minutes, you didn't lose out. Those that had the ability to compose themselves could have nearly had their Q1 done in that time. They were then presented with the paper, 3 hours, and could do the rest of their questions. Imagine only having 3 questions to do in 3 hours. They could spend about 1hr 10 mins on each 100 mark and 40 minutes on budgeting.

In the meantime other students from around the country had to squeeze every single minute of the exam

Students didn't have the full selection of questions. How in Gods name were they meant to decide which questions to choose, if they didn't have them all in front of them. They should have collected the papaer back up, left students in the hall, not allowed talk to each other. Then let them do the exam once the full papers had arrived.

I would have nothing against a different marking scheme being applied to those who didn't get the full paper.

EuropeanSon

**Timbuk2** wrote: »

I think it's irrelevant whether it was South Dublin, North Dublin, Mayo or even Libya (they do the LC in some parts of Libya!)

Even if there was initial confusion, and panic, you still got the full time from when you got the full paper - so if you had worked yourself into such a fuss that you did nothing for 45 minutes, you didn't lose out. Those that had the ability to compose themselves could have nearly had their Q1 done in that time. They were then presented with the paper, 3 hours, and could do the rest of their questions. Imagine only having 3 questions to do in 3 hours. They could spend about 1hr 10 mins on each 100 mark and 40 minutes on budgeting.

In the meantime other students from around the country had to squeeze every single minute of the exam

I agree totally with this. I'd have been delighted with an extra 50 mins, if you are of such a weak disposition that it caused you to mess up the exam that's your problem.

randylonghorn

Cian92 wrote: »

One of the teachers in our school, said they know which school they are correcting, and have a list of all the students. They just don't know which script corresponds with each name.

0_o

Since when??!!

JellyBeans92 wrote: »

Does anyone think there would be as much media coverage if the centres affected were in let's say Wexford.. or Tipperary?.

Yes.

pathway33 wrote: »

plus students in oatlands college stillorgan got an extra 50 minutes but students in blackrock only got an extra 10 minutes.

Wow! Mess!

**Timbuk2** wrote: »

Even if there was initial confusion, and panic, you still got the full time from when you got the full paper - so if you had worked yourself into such a fuss that you did nothing for 45 minutes, you didn't lose out.

See the post above you.

EuropeanSon wrote: »

I agree totally with this. I'd have been delighted with an extra 50 mins, if you are of such a weak disposition that it caused you to mess up the exam that's your problem.

Spoken like a true mathematician! :P

EuropeanSon

randylonghorn wrote: »

0_o

Since when??!!

Yes.

Wow! Mess!

See the post above you.

Spoken like a true mathematician! :P

I'm just not into all that whiny emotional cr@p. IMO, you are able to figure out the answers, or you're not. A mixup of papers shouldn't stop your brain from working.

randylonghorn

EuropeanSon wrote: »

I'm just not into all that whiny emotional cr@p. IMO, you are able to figure out the answers, or you're not. A mixup of papers shouldn't stop your brain from working.

As I said, spoken like a true mathematician!

Mix-up of papers --> stress --> brain stops working for sub-set C, where sub-set C is defined as Set A (all those doing LC) minus sub-set B (mathematicians).

Any clearer now?

EuropeanSon

randylonghorn wrote: »

As I said, spoken like a true mathematician!

Mix-up of papers --> stress --> brain stops working for sub-set C, where sub-set C is defined as Set A (all those doing LC) minus sub-set B (mathematicians).

Any clearer now?

I didn't disagree with you in the first place. :P

RexMundi

EuropeanSon wrote: »

I agree totally with this. I'd have been delighted with an extra 50 mins, if you are of such a weak disposition that it caused you to mess up the exam that's your problem.

Who got an extra 50 minutes?

I hear Oatlands got 40 added on.

We got 15-20
Blackrock got 10 minutes.
Anyone else I heard got around the same as ourselves.

AND it was not EXTRA time but time to make up for the time at the start when people did not have a clue what was going on. People were thinking, maybe we'll have to resit this so why bother starting?

I would have loved an extra 50 minutes. No one got an extra 50 minutes.

Everyone in my exam hall, where we got messed up papers, which some posters think made things easier... seriously, you guys don't have a clue.. was pressed for time. We finished 20 minutes later but were writing for less than the standard 3 hours.

If people would stop belittling the trouble caused to people in a situation that they clearly are misinformed about, it would be nice.

pathway33

RexMundi wrote: »

Who got an extra 50 minutes?

No one got an extra 50 minutes.

http://www.irishtimes.com/newspaper/frontpage/2010/0622/1224273031049.html?via=mr

pathway33

http://www.finegael.org/news/a/3289/article

EuropeanSon

RexMundi wrote: »

Who got an extra 50 minutes?

I hear Oatlands got 40 added on.

We got 15-20
Blackrock got 10 minutes.
Anyone else I heard got around the same as ourselves.

AND it was not EXTRA time but time to make up for the time at the start when people did not have a clue what was going on. People were thinking, maybe we'll have to resit this so why bother starting?

I would have loved an extra 50 minutes. No one got an extra 50 minutes.

Everyone in my exam hall, where we got messed up papers, which some posters think made things easier... seriously, you guys don't have a clue.. was pressed for time. We finished 20 minutes later but were writing for less than the standard 3 hours.

If people would stop belittling the trouble caused to people in a situation that they clearly are misinformed about, it would be nice.

If people have the paper in front of them, even if it's just sine of the questions, and they don't start, they are idiots. Why should someone get special treatment for being an idiot?

I'd still have been delighted with an extra 10 mins, and would have used it to full effect.

RexMundi

pathway33 wrote: »

http://www.irishtimes.com/newspaper/frontpage/2010/0622/1224273031049.html?via=mr

As I said, no school got an extra 50 minutes.

Oatlands were, I have been told, one of the schools where the exams were taken up and put on hold until the extra questions were received.

EuropeanSon wrote: »

If people have the paper in front of them, even if it's just sine of the questions, and they don't start, they are idiots. Why should someone get special treatment for being an idiot?

I'd still have been delighted with an extra 10 mins, and would have used it to full effect.

Obviously you don't have a clue. I don't know what "sine of the questions" means (we didn't have nine of them if that is what you mean).

It is clear that a number of people on this thread have neither the ability or the compunction to understand the undue stress that this massive cock up caused. The Leaving is stressful enough without this rubbish being set upon us. If you think that the added time was any benefit or in any way made up for the mess that was made, I guarantee you that you are deluding yourselves.

pinkfish

Lets Just SAy my A WEnt Out THe Window AS Soon AS i Opened Thhat Paper! This Was Worse Than The Bland Trauma !lol x

Grace16

Jeez that paper was pretty hard....was completely sure that flexible and clubs were gonna come up. I think i passed at least and in all honesty that's all i wanted as i haven't had the best 2 years of teaching. Can't wait for the results haha

EuropeanSon

RexMundi wrote: »

As I said, no school got an extra 50 minutes.

Oatlands were, I have been told, one of the schools where the exams were taken up and put on hold until the extra questions were received.



Obviously you don't have a clue. I don't know what "sine of the questions" means (we didn't have nine of them if that is what you mean).

It is clear that a number of people on this thread have neither the ability or the compunction to understand the undue stress that this massive cock up caused. The Leaving is stressful enough without this rubbish being set upon us. If you think that the added time was any benefit or in any way made up for the mess that was made, I guarantee you that you are deluding yourselves.

I'm typing on an iPod touch, the keyboard is a touchscreen, hence "sine" instead of some, the i and o keys and m and n keys are right beside each other.

I'm not an over emotional drama queen, so no, I would not have been adversely affected by the mixup. I am not under stress, I'm doing my leaving cert, it's not that stressful, I'm actually enjoying it.

JellyBeans92

RexMundi wrote: »

Obviously you don't have a clue. I don't know what "sine of the questions" means (we didn't have nine of them if that is what you mean).

He doesn't have a clue.. even I could figure out that 'sine' was a typo if you look at the key board and where I and O are, the N and M are..

And we're the ones who don't have a clue?.. =P


Anyway, it was announced at the weekend that there was a HL, so the rest of us poor eijits were stressing half the weekend about that, and severely confused when none were pointed out to us on monday?
I'm not saying the mess up on the booklets wasn't bad, it was.. I think we've established the fact that the SEC are IDIOTS? =P
But everyone was affected by errors (or the lack there of?), so it's not each other we need to affront but the SEC for being so stupid about the whole thing?

Furthermore I totally disagree that the 'affected' centres should be marked easier than the rest of us, because as I said we were all affected in a way?
Plus marking easier in accounting would technically mean changing the marking scheme (because it's figures and such, unlike in english or something where there's kinda more lean-space for variance?) and would defeat the whole point of everyone being marked on the same scale?

unknown13

RexMundi wrote: »

As I said, no school got an extra 50 minutes.

Oatlands were, I have been told, one of the schools where the exams were taken up and put on hold until the extra questions were received.

It doesn't matter how long people got extra for the exam. I have read that article and it is only judging two south dublin schools. Other schools might have been given as much as an hour extra for all we know.