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

Steve!

The dividends were very tricky in the manufacturing. And the whole debtors thing.
I have just remembered how to do the dividends part. Damn it.

amortentia

electrictrad wrote: »

Exam was quite straight, to be honest. . .couple of nice additions, including the stairs-shaped graph in marginal. . .didn't do 60m Incompletes, didn't know it was possible to come up that way. . .Tabs was lovely, control was beautiful, despite new bad debts trick . . .nearly died with pleasure when I saw that 50 marks went for ratios in Q5. . .

What did people say for Limitations of Ratio Analysis?

Wow I'm such an idiot, I knew what a stepped fixed costs should look like yet I just joined up the dots like a normal graph! UGH. There goes my full marks for marginal.

PJelly

electrictrad wrote: »

What did people say for Limitations of Ratio Analysis?

I had to kinda make educated guesses here.
Something like, it's just a snapshot of a company at one point in the year.
It may be an exceptionally bad or good year for the company but the ratio's would take it as the norm (not sure about that)
Doesn't take future revenue into account (Grasping at straws)
Doesn't take future projects into account that could possibly generate revenue (something like diversifying I said)

aramush

Ladies and gents, I made a balls of that.

PJelly

Steve! wrote: »

The dividends were very tricky in the manufacturing. And the whole debtors thing.
I have just remembered how to do the dividends part. Damn it.

For a manufacturing, do you not just take the "Dividends paid" amount for the P+L and that's it?

Steve!

PJelly wrote: »

For a manufacturing, do you not just take the "Dividends paid" amount for the P+L and that's it?

I *think* I should have constructed a dividends table like you would in a published account. So yes, the 30000 would have into the P+L regardless. But there has to be a preference dividend due doesn't there. I didn't put one in.

what.to.do

When we opened that paper... The joy in the room was palpable!

Cheesy grins, arms thrown up in celebration (no joke, was a great almosphere)!

UNTIL

nothing worked out for anyone.

But it was a lovely paper otherwise, nothing too tricky.

I did the question one (preferred a company, but sure!), the club (investments were awkward, but very doable), the tabular (nothing new there) and marginal (a beautiful, beautiful question!).

Finished now, so WOOO!!

what.to.do

Steve! wrote: »

I *think* I should have constructed a dividends table like you would in a published account. So yes, the 30000 would have into the P+L regardless. But there has to be a preference dividend due doesn't there. I didn't put one in.

I just split them into Preference dividend paid and ordinary dividend paid..

Duda17

Was anyone else really stuck for time. What is the point in making us rush all these questions and at the same time making a balls of each one. If they gave us a decent amount of time we would all do better. It just dosn't make sense all these time constraints in exams. And what were ya meant to do for calculating the closing stock of the production budget?

lufc1993

PJelly wrote: »

For a manufacturing, do you not just take the "Dividends paid" amount for the P+L and that's it?

What balancing figure did you get for Q1. We have 2 people with different ones in our class...933130 or 928330...ring any bells?

what.to.do

lufc1993 wrote: »

What balancing figure did you get for Q1. We have 2 people with different ones in our class...933130 or 928330...ring any bells?

Mine didn't balance, but I have 931130 and 937870.

lufc1993

Steve! wrote: »

The dividends were very tricky in the manufacturing. And the whole debtors thing.
I have just remembered how to do the dividends part. Damn it.

Yea!!!!! i did a dividends table too...

LOL JK enjoy repeating BUD!

diverm2

Fireball07 wrote: »

Oops. I just made a balls of my best subject.


Neither club nor manufacturing balanced for me and I spent half an hour looking for mistakes and couldn't find any.

Tab was okay imo...and the marginal was piss easy.

But what I thought was an almost certain A1 now looks bad. I have no idea how I got on but one of my balances was almost 100,000 out :eek:

And I haven't got a Q1 wrong since 5th year.

So yeah....oops is a good way of describing it.:o

Seriously dont worry about them not balancing for you! Im doin a masters in accounting now and havent balanced a final account since leaving cert!! The lecturers all say that it doesnt stand for much wen they are balanced anyway! They can still be wrong. It could only be one small mistake that made them not balance.

Ekster

lufc1993 wrote: »

What balancing figure did you get for Q1. We have 2 people with different ones in our class...933130 or 928330...ring any bells?

Mine balanced, 933130.
For club I got 409030.

BazDel

lufc1993 wrote: »

What balancing figure did you get for Q1. We have 2 people with different ones in our class...933130 or 928330...ring any bells?

Mine didn't balance but I'm pretty sure I got the 933130 in one half

Fireball07

diverm2 wrote: »

Seriously dont worry about them not balancing for you! Im doin a masters in accounting now and havent balanced a final account since leaving cert!! The lecturers all say that it doesnt stand for much wen they are balanced anyway! They can still be wrong. It could only be one small mistake that made them not balance.

Yeah, I realise that. I want to do accounting after too...


But I usually do balance them and I have a feeling mine were more than slightly wrong. I could still get enough accumulated marks to get an A, but an A1 is probably unlikely now.

condra

aramush wrote: »

Ladies and gents, I made a balls of that.

Sorry to hear it. One of those things.

PJelly

I balanced with 933130.
So did ANYONE else do the production budget?
Weird decimal? Anyone? No?

underworld11

i thought this paper was horrible !!!!!
i only studied company acc as they were most favourable and ended up doing them anyway for question one.
also my productin budget was weird i ended up in the millions FML:mad:

diverm2

Fireball07 wrote: »

Yeah, I realise that. I want to do accounting after too...


But I usually do balance them and I have a feeling mine were more than slightly wrong. I could still get enough accumulated marks to get an A, but an A1 is probably unlikely now.

Ya never know! Things like theory can be very good for pullin you up

Wer u thinkin of doin accounting after?

Sunny!!

PJelly wrote: »

I balanced with 933130.
So did ANYONE else do the production budget?
Weird decimal? Anyone? No?

yes i got a weird decimal just rounded up

Duda17

PJelly wrote: »

I balanced with 933130.
So did ANYONE else do the production budget?
Weird decimal? Anyone? No?

I did production. Didnt get a decimal in anything up to the calculating closing stock part. What were ya meant to do with that?

Sunny!!

Duda17 wrote: »

I did production. Didnt get a decimal in anything up to the calculating closing stock part. What were ya meant to do with that?

i think it was part c of it

PJelly

Sunny!! wrote: »

yes i got a weird decimal just rounded up

Was it when you multiplied Material B by 5.50? It rounded the end up to 8?
I'm just a bit worried, because it's usually my best question

PJelly

Duda17 wrote: »

I did production. Didnt get a decimal in anything up to the calculating closing stock part. What were ya meant to do with that?

My two closing stocks were like, 226 and 227. I just rounded up.
Made sure to show the decimal figure too beforehand though.

ciff

I'm going for a **** to relieve the stress after that. jaysus lads.

Fireball07

diverm2 wrote: »

Ya never know! Things like theory can be very good for pullin you up

Wer u thinkin of doin accounting after?

Theory was always my weak point But there was only one theory question in the club which I did okay in. And the marginal was easy, I'd say I got 80/80 in that, possibly 100/100 in the tab, not sure though.

I want to do it in UL, law and accounting but I have accounting in UCC down aswell.

Matthew712

Q1 balanced 922330
Anyone's centre call out any errors in the paper?

Fireball07

Matthew712 wrote: »

Q1 balanced 922330
Anyone's centre call out any errors in the paper?

I didn't get that of course mine didn't balance.

No errors on ours...

fred09

electrictrad wrote: »

Exam was quite straight, to be honest. . .couple of nice additions, including the stairs-shaped graph in marginal. . .didn't do 60m Incompletes, didn't know it was possible to come up that way. . .Tabs was lovely, control was beautiful, despite new bad debts trick . . .nearly died with pleasure when I saw that 50 marks went for ratios in Q5. . .

What did people say for Limitations of Ratio Analysis?

limitations of ratio analysis
only deals with the past
management style ie morale is not shown....
seasonal fluctuations not taken into account
different accounting policies for diff companies(not sure bout that one)
first 3 are right.....I HOPE... pretty sure they are though