Leaving cert Business

aoifemaria

Business is my best subject and I really need to get a high grade in it.

We did a mock exam last week again, and I got a b2, how can I bring it up to an A?

Is there a particular chapter that is important or any tips would be great.

Thanks

Exo

Sure. Focus on Unit 1-5, have knowledge of Unit 6-7 (for short Q purposes) - layout all answers so they're legible (nothing too fancy) and add as much detail as possible! Study the generally unstudied. Business is pretty simple if you put any work into it..

LauraaWhelann

Heya! I need a high grade in business too so I feel your pain!

I got 88% in my pre for business and I was delighted with that although I need an A1

My advice would be to know units 1-3 INSIDE OUT as they are essential for all aspects of the paper, and obviously for our ABQ this year.

I would then learn unit 6 and 7 so that it's possible to answer question 3 on the paper. Question 3 is always very repetitive and very to the point. If you know your stuff you will get full marks.

I'd recommend doing all the Q5s from the past papers and past pre papers as this is the accounting question and saves you a lot of time in the exam as it is mostly numbers, and if you know your formulas you will get full marks on that part of the question.

As for the short questions.. They really rely on continuous study and continuous reinforcement of all aspects of the subject.. Sorry

My last piece of advice would to be make 1 or 2 page summaries of all the chapters! (After you have studied each in dept from the book) This really takes away from the stress of having the huge book in front of you.

LASTLY PRACTICE PRACTICE PRACTICE!

I also just posted about the LC and would appreciate your advice

MrAweesome

Do you's have any predictions of what yous think will come up?
I'm defiantly going to skip the accounting question because it takes up alot of time and I not great at it.

I only got 70% in the pre and I need to bring this up to a B1 possibly A2.

LauraaWhelann

MrAweesome wrote: »

Do you's have any predictions of what yous think will come up?
I'm defiantly going to skip the accounting question because it takes up alot of time and I not great at it.

I only got 70% in the pre and I need to bring this up to a B1 possibly A2.

If you want an A don't rely on predictions break even chart is tipped to come up in the long questions!

I would really recommend doing the accounting questions I'm not great with maths either but if you know the formulas you will get the marks!

Exo

Q5 can be a handy to score high marks in, I wouldn't avoid it - compared to some of the other demonic questions that can be, and have been asked!

robman60

Exo wrote: »

Q5 can be a handy to score high marks in, I wouldn't avoid it - compared to some of the other demonic questions that can be, and have been asked!

Demonic describes some of the bizarre questions that are asked perfectly. I'll decide which questions I'll answer on the day as some of the easier questions like 4 and 5 can often have a horrible curve ball thrown in.

aoifemaria

Anybody have any tips on the ratio questions?

I always mix them up..

I usually stay away from that question, but if I could get it right its easy marks.

caolan1996

Exo wrote: »

Q5 can be a handy to score high marks in, I wouldn't avoid it - compared to some of the other demonic questions that can be, and have been asked!

do you have any tips for it i always seem to forget whats in capital employed i know the formulas but i dont know what figures to put in them any advise

Exo

aoifemaria wrote: »

Anybody have any tips on the ratio questions?

I always mix them up..

I usually stay away from that question, but if I could get it right its easy marks.

Seven ratios in total. Profitability (3), Liquidity (2), Capital (1). You may be asked a PAYE taxation question, simple steps by going through the basic & high tax rates and then dealing with tax credits & other taxes such as USC & PRSI (if applicable).

Also, Sales - Cost of Sales = Gross profit .. & Gross Profit - Expenses = Next profit (in case you're not given those figures).

B/E chart could come up between Q5-7.

The questions should revolve around those ratios & equations, the rest is simply theory based.

caolan1996 wrote: »

do you have any tips for it i always seem to forget whats in capital employed i know the formulas but i dont know what figures to put in them any advise

ROI (Return on Capital Employed) = Net Profit/Balance Sheet Total x 100..

The Balance Sheet Total is made up of Issued Ordinary Shares + Long Term Debt + Retained Earnings. Net profit should be given, if not, I mentioned how to find gross/net profit in the previous reply there.

LauraaWhelann

caolan1996 wrote: »

do you have any tips for it i always seem to forget whats in capital employed i know the formulas but i dont know what figures to put in them any advise

Just think about it, capital employed means the money that is PUT IN to the business.

So where does a business source it's capital from?
1. The money it made last year i.e. retained earnings
2. The money that share holders invest i.e. Ordinary Share Capital and preference shares
3. Debt capital that the business borrows i.e. Long term loans

All those added together will give you capital employed! The the ratio is simply net profit divided by capital employed multiplied by one hundred

Hope this helps!

caolan1996

LauraaWhelann wrote: »

Just think about it, capital employed means the money that is PUT IN to the business.

So where does a business source it's capital from?
1. The money it made last year i.e. retained earnings
2. The money that share holders invest i.e. Ordinary Share Capital and preference shares
3. Debt capital that the business borrows i.e. Long term loans

All those added together will give you capital employed! The the ratio is simply net profit divided by capital employed multiplied by one hundred

Hope this helps!

thanks that really helped
made it kind of self explanatory thanks great help

LauraaWhelann

caolan1996 wrote: »

thanks that really helped
made it kind of self explanatory thanks great help

No problem making business self explanatory is the only way to do it!

aoifemaria

Hate the EU chapter...
Do I need to know it that well?
Any notes/tips?

Our teacher flew threw it because she wanted to get the course done before Christmas :P

Thanks a million

aleatorio

What's the difference between preference shares and ordinary share capital? If they're both shares then why is one considered debt capital and the other equity capital?

Exo

Are you sure this isn't an accounting question?

I'd imagine that preference shares have priority dividends which makes them a preference and a mandatory payout (makes it debt to the share holder of a preference share), over equity capital which does not need to be repaid to share holders during the course of a business, and can be reinvested into the business.

It's a bit confusing to explain even, but think of preference share dividends as a liability, which in turn makes it a debt on the business.

aleatorio

Exo wrote: »

Are you sure this isn't an accounting question?

I'd imagine that preference shares have priority dividends which makes them a preference and a mandatory payout (makes it debt to the share holder of a preference share), over equity capital which does not need to be repaid to share holders during the course of a business, and can be reinvested into the business.

It's a bit confusing to explain even, but think of preference share dividends as a liability, which in turn makes it a debt on the business.

Well its in my business book, Ive never seen it come up in the exam as part of the ratio question but Im just being safe

Thanks that makes more sense :P

robman60

aoifemaria wrote: »

Hate the EU chapter...
Do I need to know it that well?
Any notes/tips?

Our teacher flew threw it because she wanted to get the course done before Christmas :P

Thanks a million

Q3 where it always appears is the least popular question on the whole paper. I'll decide on the day whether I like the question or not, but you could definitely avoid covering it in detail. There's normally at least one short question about the EU so you should probably do the basics. I can't really give many tips for it really, there's just quite a bit of info to learn.

So you can easily avoid it in the long questions if you wish.

thelad95

I wouldn't rule put Q2 or Q3 necessarily. They are not my first choice and I hate the volume of content that has to be learnt but some years, these questions can actually be pretty straightforward whereas they can throw some horrific curve-balls in Q's 4-7.

However if you genuinely can't stand these units, then it's best to avoid them.

Exo

thelad95 wrote: »

I wouldn't rule put Q2 or Q3 necessarily. They are not my first choice and I hate the volume of content that has to be learnt but some years, these questions can actually be pretty straightforward whereas they can throw some horrific curve-balls in Q's 4-7.

However if you genuinely can't stand these units, then it's best to avoid them.

At this stage, I'd rather just avoid those units since I haven't fully grasped them. Unit 1-3 are crucial. Economics students have an advantage who study those last few units. You have one question worth of wiggle room if you avoid Q2-3 .. I'll take my chances. Curve-ball me b*tches!

MrAweesome

I wish we could do Questions 1, 2 and 3 Do yous think that the agenda or report will come up on the ABQ?

thelad95

MrAweesome wrote: »

I wish we could do Questions 1, 2 and 3 Do yous think that the agenda or report will come up on the ABQ?

My teacher has predicted for the ABQ:
Enterprising characteristics
Letter/Report on something
Importance of planning.

As with all predictions, take with a MASSIVE pinch of salt.

I would love if something to do with contracts/relationships came up in the ABQ.

MrAweesome

thelad95 wrote: »

My teacher has predicted for the ABQ:
Enterprising characteristics
Letter/Report on something
Importance of planning.

As with all predictions, take with a MASSIVE pinch of salt.

I would love if something to do with contracts/relationships came up in the ABQ.

Thanks

I have a feeling business relationships will come up in Question 1 in the first question.

9bred4

thelad95 wrote: »

My teacher has predicted for the ABQ:
Enterprising characteristics
Letter/Report on something
Importance of planning.

As with all predictions, take with a MASSIVE pinch of salt.

I would love if something to do with contracts/relationships came up in the ABQ.

How does one write a report? Teaching myself the subject and only now going over in detail! Squeaky bum time!

caolan1996

do you think it would be hard to go from a D2 in the mocks to a C1 or B3 in the leaving. if so what should i look at certain topics ? would it be a good idea also to do the questions that people dont answer like Q3 and Q5

thelad95

caolan1996 wrote: »

do you think it would be hard to go from a D2 in the mocks to a C1 or B3 in the leaving. if so what should i look at certain topics ? would it be a good idea also to do the questions that people dont answer like Q3 and Q5

It depends. Have you done much study since then? As for doing Q3 and Q5, they are marked the same as any other question. If your answer is rubbish, you'll get rubbish marks, if it's good you'll do well. You should only contemplate answering these if you know the content well. If you don't, then you'd be better off re-enforcing your knowledge in other areas. Make sure you know your definitions well as this will really help in SQ's.

MrAweesome

Make sure you know units 1-3 inside out because they will come up on SQ, Case study and Question 1 in the long questions.