* Accounting (HL) Predictions / discussion / aftermath * (One thread please)

irishpatsfan

kev.f wrote: »

ok. time to sort this out

doing Q1- hopefully it will be company
doing Q8 -anything here will do
Doing Q5 - the ratio question. like these

so if i cover club, tabular and published should i be ok?

really dont like incomplete....

u will probably need 2 revise cash flow as well loads of people think it will b a cash flow.... club is most likely follwed by cash flow then tabs then published! also u should just look over incomplete cash book there so easy like only 8 or 9 workings!!

PJelly

Another accountancy question
I'm brushing up on Published account notes now. And I'm stumped by the "Operating profit is arrived at" bit. The revision book I have (Which is rubbish) does three questions. First time they say it's arrived at after patent amortisitaion and depreciation, second time they add in directors and auditors remuneration. And the third time they add in auditors fees too! Despite auditors fees being in the first one, they didn't include it in the note.
How do you know what to put in the note?

cocopopsxx

PJelly wrote: »

Another accountancy question
I'm brushing up on Published account notes now. And I'm stumped by the "Operating profit is arrived at" bit. The revision book I have (Which is rubbish) does three questions. First time they say it's arrived at after patent amortisitaion and depreciation, second time they add in directors and auditors remuneration. And the third time they add in auditors fees too! Despite auditors fees being in the first one, they didn't include it in the note.
How do you know what to put in the note?

Well, what my teacher has told us is this-

Operating profit is arrived at after charging :
1) Depreciation
2) Amortization
3) Director's remuneration
4) Auditor's remuneration

I always put in these 4.

kev.f

PJelly wrote: »

Another accountancy question
I'm brushing up on Published account notes now. And I'm stumped by the "Operating profit is arrived at" bit. The revision book I have (Which is rubbish) does three questions. First time they say it's arrived at after patent amortisitaion and depreciation, second time they add in directors and auditors remuneration. And the third time they add in auditors fees too! Despite auditors fees being in the first one, they didn't include it in the note.
How do you know what to put in the note?

always put in Auditors fees, directors fees, Patent amortised and dep of tanguble fixed assets. that what it does in the solutions anyway. basicly what you said yourself.
in your revision book is the auditors fees in the trial balance or in the ajustments at the end? someone correct me if im wrong but for director and auditors fees if it is in the ajustment than you put it in the note.

kinda rambling there. hope you understood

PJelly

kev.f wrote: »

always put in Auditors fees, directors fees, Patent amortised and dep of tanguble fixed assets. that what it does in the solutions anyway. basicly what you said yourself.
in your revision book is the auditors fees in the trial balance or in the ajustments at the end? someone correct me if im wrong but for director and auditors fees if it is in the ajustment than you put it in the note.

kinda rambling there. hope you understood

Ahh, there's no adjustment for auditors fees that I can see. Just the normal "Provide for blah blah auditors fees 7,700 and blah blah"
At least I know what to look out for now, thanks.

resistantdoor

Do they provide paper with boxes for the tabular statements? If not, what's the best way to answer/ present them?

norwegianwood

If there's a God, Suspense and Control won't be on this exam tomorrow.

indiglo09

I've decided 2 do pass cuz i havnt done ne work tbh, ne1 know if there's a significant difference in terms of the courses?

PJelly

norwegianwood wrote: »

If there's a God, Suspense and Control won't be on this exam tomorrow.

I'm almost more worried about how the booklet's going to be laid out than the test itself!

kev.f

im not going to be using the lined booklets. i have always used normal pages and im not going to change now. i do find it so much handier. i take it they cant mark you down for that can they?

itzybitzyfitzy

As someone who did this for her leaving last year one thing I will say is DO NOT rely on predictions! Section 3 was a disaster, a cash budget came up even though it came up the year before as part of a question and then it was stock taking instead of marginal costing. So make sure you have a brief idea of every topic just in case though if u plan on not doing question 1 then don't bother with final accounts.
Good Luck guys xxx

Ditzie

kev.f wrote: »

im not going to be using the lined booklets. i have always used normal pages and im not going to change now. i do find it so much handier. i take it they cant mark you down for that can they?

no, last year we got handed out lined booklets and literally every person gave it back and asked for a normal one!

irishpatsfan

itzybitzyfitzy wrote: »

As someone who did this for her leaving last year one thing I will say is DO NOT rely on predictions! Section 3 was a disaster, a cash budget came up even though it came up the year before as part of a question and then it was stock taking instead of marginal costing. So make sure you have a brief idea of every topic just in case though if u plan on not doing question 1 then don't bother with final accounts.
Good Luck guys xxx

im sorry this year i cant see company final, ratios, incomplete, marginal costing, flexible/production not being on it i think at least 4 or 5 of them will b on it so im sorted

YodaBoy

For tabular, when you get the Bank figure as a current liability (overdraft), do you put it as a negative figure in assets or with the rest of the liabilities?? Thanks

magicianz

YodaBoy wrote: »

For tabular, when you get the Bank figure as a current liability (overdraft), do you put it as a negative figure in assets or with the rest of the liabilities?? Thanks

I have always put it as a negative in the assets side, along with depreciation :O

fred09

irishpatsfan wrote: »

im sorry this year i cant see company final, ratios, incomplete, marginal costing, flexible/production not being on it i think at least 4 or 5 of them will b on it so im sorted

question 8 will be production budget or a flex
question 7 will be a tough marginal mixed with absorb maybe.
question 1 should be company but i can honestly see them not putting up an incomplete even though its my best question!
the every 2 year thing must end soon and i just think it wont be on tomo.....

YodaBoy

magicianz wrote: »

I have always put it as a negative in the assets side, along with depreciation :O

sound. Iv always done it the other way but i just saw a marking scheme with it in assets.

YodaBoy

fred09 wrote: »

question 8 will be production budget or a flex
question 7 will be a tough marginal mixed with absorb maybe.
question 1 should be company but i can honestly see them not putting up an incomplete even though its my best question!
the every 2 year thing must end soon and i just think it wont be on tomo.....

Definitly with you on the incomplete thing. This examiner is trying to make it less predictable and thats the most obvious prediction on the paper.

So, predictions are now, what do we think, she thinks, we think is coming up...and what will she put up instead!
On that basis, I think its Published and something from last year (cash flow) along with the ratios in section 2.
Probably Company Q1 cos if not, she'd have no where to go next year.
She might mix both Q8&9 between costing and budgeting to stop people learning just one!

B1*CH!!!!!

LilyLuna

YodaBoy wrote: »

For tabular, when you get the Bank figure as a current liability (overdraft), do you put it as a negative figure in assets or with the rest of the liabilities?? Thanks

whichever way you prefer really. i find it easier to put it as a negative asset.

I was just looking through exam q's at cash flow and in 2008 i dont get how they calculate the tax. i thought it was 60000(paid) - 39000(due at beg) + 48000(due at end)? in that q though its 60,000(paid) - 48000(due at end) + 39000 (due at beg?)! seriously confused!

what.to.do

Published and Cash flow in section two would be my worst nightmare...

PJelly

If any of these come together in section two, I'm in trouble.
Club, Cash Flow, Published, Service Firm.
PLEASE let it be ANYTHING else!

YodaBoy

PJelly wrote: »

If any of these come together in section two, I'm in trouble.
Club, Cash Flow, Published, Service Firm.
PLEASE let it be ANYTHING else!

Club and Published are due...at least one of them should be 100m. Have a look over club...its pretty self-explanatory

PJelly

They could try to mix accounts again and make a new 100 marker.
Clublished.

electrictrad

PJelly wrote: »

They could try to mix accounts again and make a new 100 marker.
Clublished.

Or Incompabular

PJelly

electrictrad wrote: »

Or Incompabular

Bosting.
Clumpany Final Accounts
Incomplection of errors.
Farmginal Costing.
I should study :pac:

irishpatsfan

or a pub account !!

irishpatsfan

YodaBoy wrote: »

Definitly with you on the incomplete thing. This examiner is trying to make it less predictable and thats the most obvious prediction on the paper.

So, predictions are now, what do we think, she thinks, we think is coming up...and what will she put up instead!
On that basis, I think its Published and something from last year (cash flow) along with the ratios in section 2.
Probably Company Q1 cos if not, she'd have no where to go next year.
She might mix both Q8&9 between costing and budgeting to stop people learning just one!

B1*CH!!!!!

im 100 percent sure incomplete will b on it just not sure what method! q1 will b a company final no doubt! and in section 2 it will b club, cash flow or published section 3 is where they will change it up if they do but honestly i rekon we will come out of it saying this was the easiest in years! and were lucky to get such predictable topics!

electrictrad

I might invent a new type of account if tomorrow's paper is bad;

Incomplete Suspense Accounts. . . .:D;)

PJelly

I've yet another accountancy question!
Y'know in production budgeting, if they don't give you the closing stock for the trading and you have to find it yourself, how do you get the fixed rate again?
I think it's something to do with labour hours...

resistantdoor

PJelly wrote: »

They could try to mix accounts again and make a new 100 marker.
Clublished.

Be sorted if a sexible budget came up...oh wait wrong site.