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Fifii

LaLeche wrote: »

A note of advice, the examiner will bend you over with a rusty spork if you try to do the club accounts using business account templates and headings, also don't piss of the examiner by doing all the section i and 2 questions. Thats an ordinary level move...

What do you mean by Doing all the section i and 2 questions?:)

Blue giant

JWM12 wrote: »

My advice is don't do the day books (Q1, Paper 2). They take a while and unless you're really good at them they'll wreck your head. You do 4 of 6 I think so I'll be having a stab at some of the other ones

Having done my JC last year I would strongly disagree with this advice. This question is very easy to get good marks in once you know what to do. And it really doesn't take long to do despite what you may be told. I did an extra question and still left with 25 mins left. Probably not best to try it now though if you have never "got it" .

LaLeche

Blue giant wrote: »

Having done my JC last year I would strongly disagree with this advice. This question is very easy to get good marks in once you know what to do. And it really doesn't take long to do despite what you may be told. I did an extra question and still left with 25 mins left. Probably not best to try it now though if you have never "got it" .

Agreed

Liordi

Is anyone else actually going to do the ledger question?

smiles_1998

Liordi wrote: »

Is anyone else actually going to do the ledger question?

Me Our teacher is really good and explained the question sooo well! It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts).

Liordi

smiles_1998 wrote: »

Me Our teacher is really good and explained the question sooo well! It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts).

Our teacher is appalling but I think I should be alright for it.

nanook5

smiles_1998 wrote: »

Me Our teacher is really good and explained the question sooo well! It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts).

They are guaranteed 100%

darman124

how do you know which dates to put in?

nanook5

darman124 wrote: »

how do you know which dates to put in?

Its usually the end and start of the month AFAIK

Eims14

Yano for the q on government spent is all you have to do just fill on capital income and spending take them away from each other and then say whether its a surplus or deficit?

Liordi

Eims14 wrote: »

Yano for the q on government spent is all you have to do just fill on capital income and spending take them away from each other and then say whether its a surplus or deficit?

Usually, yeah.

Eims14

Liordi wrote: »

Usually, yeah.

Thanks it just seemed too easy

Liordi

Eims14 wrote: »

Thanks it just seemed too easy

It is.
Theory part is the worst, imo..

Beca19

Liordi wrote: »

Is anyone else actually going to do the ledger question?

Me I'm alright except for the general journal I forget how to do those..

Chloee98

Identify 2 legal requirements that must be satisfied when opening a bank account? And the definition for limited resources?

Mr Rhode Island Red

Liordi wrote: »

Is anyone else actually going to do the ledger question?

Yes, along with TPL, Sales documents, and then chance my arm at something else

Mr Rhode Island Red

Chloee98 wrote: »

Identify 2 legal requirements that must be satisfied when opening a bank account? And the definition for limited resources?

Proof of Identity eg. Passport
Proof of address eg. Telephone/ESB bill

Limited resources (presuming this is referring to the government) means that the government doesn't have enough money to pay for/buy everything they would like to, so they have to budget and allocate their money and resources to the most important departments/expenses

Oisin4

How do you calculate bad debts?

Liordi

Oisin4 wrote: »

How do you calculate bad debts?

Depends on the question.
Typically it's just a percentage of the debt they own.
e.g "John is bankrupt and owes Mary €10 000 and agrees to pay her .30 cent for every €1 he owes."

10000 x .30 = €3000 (amount John paid to Mary)
Mary has to write off a bad debt of €7000.
i.e, the cost of the bad debt is €7000.

roisiny

Ive the whole theory course covered... theres only like 7 pages of key words does that sound about right? And which accounts should I focus most on now, apart from the ledger as I'm pure brutal at that.

DanielChester

LaLeche wrote: »

not to be mean... but you can't learn the general and creditor ledger the night before....

Who says? I just did bro.

Manutd_4life

for receipts and payments account on club accounts is the cash from the accumulated funds the opening balance

Dr. Toaster

Which accounts go in which record books? I mean, where does the (for example) trial balance or double-entry go? This is for higher level. A list of what goes in each would be really helpful! Thanks.

yvngceebs

Dr. Toaster wrote: »

Which accounts go in which record books? I mean, where does the (for example) trial balance or double-entry go? This is for higher level. A list of what goes in each would be really helpful! Thanks.

They will include record books in the answer booklet tomorrow. At the top, it will say which accounts go where for you.

Liordi

Does anyone know if you're allowed log tables in business?

nanook5

Manutd_4life wrote: »

for receipts and payments account on club accounts is the cash from the accumulated funds the opening balance

Yes it is

I just found that out by doing a question

nanook5

Liordi wrote: »

Does anyone know if you're allowed log tables in business?

Why do you need them ?

Liordi

nanook5 wrote: »

Why do you need them ?

Formula for compound interest is in it.
Could be other formulas as well. :P

nanook5

Liordi wrote: »

Formula for compound interest is in it.
Could be other formulas as well. :P

That is the only one

Ask your supervisor:P

MangoMachine

DanielChester wrote: »

Who says? I just did bro.

Join the crew.