*** 2013: Accounting Before/After ***

olazbabes

Q1 was a disaster I spent so much time on it . q9 budgeting was like mixed with cash and budgeting> Published was lovely. Overall it was challenging i got sick of doing balance sheets.

giggsy664

Anyone else write down what figures they got for the accounts?

Dude Love 1

Look lads could have been worse, they could have tried to mix in departmental in Q1....

ray2012

bluejaymraz wrote: »

\o/ for depreciation, tabular and published. Not so much for incomplete because my balance sheet was out by something like 208,700! Spent a good 10 minutes trying to balance it but still got no where close

Q8 was straight forward enough. Was it ridiculously easy though or did I tackle it completely wrong?

Q8 was extremely easy. However, you would have had to revise all those 3 parts of the question if you had any chance of being able to answer. That question that came up was pretty much identical to 2010 Q8. I messed up the job costing part, but the rest was really good! Glad I did the 2010 question last night!

Slow Show

bluejaymraz wrote: »

\o/ for depreciation, tabular and published. Not so much for incomplete because my balance sheet was out by something like 208,700! Spent a good 10 minutes trying to balance it but still got no where close

Q8 was straight forward enough. Was it ridiculously easy though or did I tackle it completely wrong?

I think there was just so much shoved together it was scary, I think the individual bits were easy enough if done right though! Hoping I did them right.

giggsy664 wrote: »

Anyone else write down what figures they got for the accounts?

Got 1,432,600 for Published but the rest didn't balance.

jackkeane

Yay, lovely paper! .

All my stuff balanced too . Not sure if anyone wrote down their figures but did you get...

Q1: Manufacturing Final Account
Manufacturing Cost: 1236325
Profit and Loss: 166471
Balance Sheet: 1466471

Q6: Published Account
Profit and Loss: 424500
Balance Sheet: 1432600

Q7: Incomplete
Profit and Loss: 89945
Balance Sheet: 338680

Q9: Budget
Closing Cash: (4850)
Profit and Loss: 362500

When they balance, it DOESN'T always mean you're right... so dont get discouraged or anything!

ray2012

Where are people getting the 1,432,600 ?! I got 432,600 though..! Must have left out 1,000,000 somewhere..

michael1011

jackkeane wrote: »

Yay, lovely paper! .

All my stuff balanced too . Not sure if anyone wrote down their figures but did you get...

Q1: Manufacturing Final Account
Manufacturing Cost: 1236325
Profit and Loss: 166471
Balance Sheet: 1466471

Q6: Published Account
Profit and Loss: 424500
Balance Sheet: 1432600

Q7: Incomplete
Profit and Loss: 89945
Balance Sheet: 338680

Q9: Budget
Closing Cash: (4850)
Profit and Loss: 362500

When they balance, it DOESN'T always mean you're right... so dont get discouraged or anything!

think i got the same published i think i got 335680 for incomplete and 1553230 for tabular 60 marker. going from memory though and mine balanced as well

CookieMonster.x

Quite annoyed to be honest.. I have always been an A1 student and my accounts balance 98% of the time and nothing balanced today. I know they were probably stupid mistakes.. I looked back at q1 afterwards and realised I could have gotten full marks if I did club and tabular but our teacher always told us to do q1 so I didn't even look.. That's my A1 gone

jackkeane

Were people surprised about that budget question? It came up pretty much identical in 2009... it was predicted! :P

Slow Show

jackkeane wrote: »

Yay, lovely paper! .

All my stuff balanced too . Not sure if anyone wrote down their figures but did you get...

Q1: Manufacturing Final Account
Manufacturing Cost: 1236325
Profit and Loss: 166471
Balance Sheet: 1466471

Q6: Published Account
Profit and Loss: 424500
Balance Sheet: 1432600

Q7: Incomplete
Profit and Loss: 89945
Balance Sheet: 338680

Q9: Budget
Closing Cash: (4850)
Profit and Loss: 362500

When they balance, it DOESN'T always mean you're right... so dont get discouraged or anything!

For Manufacturing my Capital Employed figure was very close to that, 10,000 off, but I went wrong somewhere for sure.
Published - yup my figures were the same.
My Incomplete didn't balance but I got that Balance Sheet figure!
Can't comment on budgeting!

jackkeane

CookieMonster.x wrote: »

Quite annoyed to be honest.. I have always been an A1 student and my accounts balance 98% of the time and nothing balanced today. I know they were probably stupid mistakes.. I looked back at q1 afterwards and realised I could have gotten full marks if I did club and tabular but our teacher always told us to do q1 so I didn't even look.. That's my A1 gone

You can still get an A1 without them balancing. most of the time its a tiny msitake!

olazbabes

At the end of the day guys you dont get a lot of marks for balancing>.Balancing gives satisfaction that your right. Im hoping my figures where close. do they adjust marking scheme in accounting.

Slow Show

CookieMonster.x wrote: »

Quite annoyed to be honest.. I have always been an A1 student and my accounts balance 98% of the time and nothing balanced today. I know they were probably stupid mistakes.. I looked back at q1 afterwards and realised I could have gotten full marks if I did club and tabular but our teacher always told us to do q1 so I didn't even look.. That's my A1 gone

Ah here I'm an A1 student too and bar published mine didn't either. You probably only lost a few marks, not balancing certainly does not mean you've dropped 40 marks from A1 to A2.

CookieMonster.x

jackkeane wrote: »

You can still get an A1 without them balancing. most of the time its a tiny msitake!

Hopefully, just such a let down, accounting was my guaranteed A1 subject :P sure we'll see in August..

lizardspock

jackkeane wrote: »

Yay, lovely paper! .

All my stuff balanced too . Not sure if anyone wrote down their figures but did you get...

Q1: Manufacturing Final Account
Manufacturing Cost: 1236325
Profit and Loss: 166471
Balance Sheet: 1466471

Q6: Published Account
Profit and Loss: 424500
Balance Sheet: 1432600

Q7: Incomplete
Profit and Loss: 89945
Balance Sheet: 338680

Q9: Budget
Closing Cash: (4850)
Profit and Loss: 362500

When they balance, it DOESN'T always mean you're right... so dont get discouraged or anything!

My manufacturing didn't balance, never does, but I got that figure for one of them so hopefully

Had a bit of an argument in the middle of the exam, trying to convince my examiner to give me some more paper- if he "gets sacked" for giving me an extra booklet apparently it's going to be my fault!:rolleyes:

Was out by 600 for the published and my incomplete balanced so overall section 2 was great, not really any surprises!! Delighted I didnt bother learning all those ratios!!

Did Q 9, say it threw quite a few people if you hadn't covered the costing stuff. Had just done 2009 question this morning which was fairly similar so hopefully be alright
Anyways so glad that exam is over- possibly one of the most stressful!!

jackkeane

I did one of those 2009 budget questions this morning too... saved me!

shawki

michael1011 wrote: »

think i got the same published i think i got 335680 for incomplete and 1553230 for tabular 60 marker. going from memory though and mine balanced as well

In the tab, Was that with Bank as a positive or a negative?

yournerd

I so needed that A1 omg ahhhhhhhhhhhhhhhhhh

olazbabes

CookieMonster.x wrote: »

Hopefully, just such a let down, accounting was my guaranteed A1 subject :P sure we'll see in August..

With the ability to get 98% you can challenge any adjustments>acc is not about balancing it is about the adjustments. You did not do as bad as you think:)

ulty77

are there answers anywhere?

giggsy664

jackkeane wrote: »

Yay, lovely paper! .

All my stuff balanced too . Not sure if anyone wrote down their figures but did you get...

Q6: Published Account
Profit and Loss: 424500
Balance Sheet: 1432600

Q7: Incomplete
Profit and Loss: 89945
Balance Sheet: 338680

Q9: Budget
Closing Cash: (4850)
Profit and Loss: 362500

When they balance, it DOESN'T always mean you're right... so dont get discouraged or anything!

I matched your Q6 figures, your Q7 balance sheet and Q9 closing cash. Woop!

jackkeane

giggsy664 wrote: »

I matched your Q6 figures, your Q7 balance sheet and Q9 closing cash. Woop!

Woo congrats! Lets hope they are right

Slow Show

jackkeane wrote: »

Woo congrats! Lets hope they are right

Did you add your intro to dividends to your capital? I got the same BS as you but I actually don't think I did. If you did though I can be fairly certain I did!

shawki

giggsy664 wrote: »

I matched your Q6 figures, your Q7 balance sheet and Q9 closing cash. Woop!

+1 on Q6 and Q9 About 7 grand off on Q7 but I know I made mistakes.
Anybody get €19000 for trade in allowance on Vechicle 3?

shawki

Was the loan in incomplete spilt into €60000 and €12000?

bluejay14

shawki wrote: »

+1 on Q6 and Q9 About 7 grand off on Q7 but I know I made mistakes.
Anybody get €19000 for trade in allowance on Vechicle 3?

€19000 sounds familiar all right.

Lcstudent2013

For the ratios question, there was a question to recoup the market price from current earnings. Anyone know if that was market price/Dividend per share or market price/ earnings per share?

jackkeane

Yeah you put the dividends of 3600 as 'capital introduced' in financed by. And you also include it in the bank figure when you are working that out!

There had to be 2 loan repayments due in Current Liabilities (12000) and then you subtracted them from the loan in financed by (60000)

ashypoos1

Oh my God I'm so mad! I did the depreciation of fixed assets the reducing balance way!!! Do ye think ill lose all the marks or will I get marks for my own figures?