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    #62
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    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.

    It ill look like this Snapshot_20140609.JPG


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    #63
    MangoMachine
    Registered Users Posts: 149 ✭✭MangoMachine


    nanook5 wrote: »
    Well Paper 1 is:

    Household budget
    Club accounts
    The consumer
    Banking
    People at work
    and another one ..... (that I can't think of)

    Paper 2 :
    Ledgers(Which most people don't do)
    Bookkeeping and documents and invoices
    Final accounts
    Cash flow forecast is likely(My friend told me today,I'm not sure)
    Marketing is likely also


    The rest of P2 is pretty unpredictable but I haven't looked at what can com up

    I just go with the (cash)flow :P

    How do you know?


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    #64
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    MangoMachine wrote: »
    How do you know?

    Most of them are guaranteed (Look at the chart at the start of your exam papers) but I'm guessing that a cash flow forecast and marketing will come up :)


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    #65
    Eims14
    Registered Users Posts: 253 ✭✭Eims14


    nanook5 wrote: »
    Most of them are guaranteed (Look at the chart at the start of your exam papers) but I'm guessing that a cash flow forecast and marketing will come up :)

    Cash flow.forecast is basically a budget for.a.business.isnt it(in the sense that its all filling in like)


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    #66
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    Eims14 wrote: »
    Cash flow.forecast is basically a budget for.a.business.isnt it(in the sense that its all filling in like)

    Yes. It is very easy once you can do a household budget . Its just fill in the blanks and add/subtract :D


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    #67
    Eims14
    Registered Users Posts: 253 ✭✭Eims14


    nanook5 wrote: »
    Yes. It is very easy once you can do a household budget . Its just fill in the blanks and add/subtract :D

    YES!well than I hope that.comes up :D


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    #68
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    Eims14 wrote: »
    YES!well than I hope that.comes up :D

    Hopefully :P

    I'm fooked if ratios come up . :eek:


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    #69
    Eims14
    Registered Users Posts: 253 ✭✭Eims14


    Oh and for a report do u layout the beginning like a letter or do you just.go straight to Dear...


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    #70
    Eims14
    Registered Users Posts: 253 ✭✭Eims14


    nanook5 wrote: »
    Hopefully :P

    I'm fooked if ratios come up . :eek:

    Yup me too :(


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    #71
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    Eims14 wrote: »
    Oh and for a report do u layout the beginning like a letter or do you just.go straight to Dear...

    In my book there is no dear at all . It is not a letter, it's a report so you say "Arising from your instructions we have..... and established that ....."


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    #72
    Eims14
    Registered Users Posts: 253 ✭✭Eims14


    nanook5 wrote: »
    In my book there is no dear at all . It is not a letter, it's a report so you say "Arising from your instructions we have..... and established that ....."
    So you just go straight into.the report likr aftrr examining X at your request we ...?


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    #73
    Liordi
    Registered Users Posts: 2,226 ✭✭✭Liordi


    Eims14 wrote: »
    Oh and for a report do u layout the beginning like a letter or do you just.go straight to Dear...

    One of the times there was a report and they gave the headings..hoping it's like that for us.


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    #74
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    Eims14 wrote: »
    So you just go straight into.the report likr aftrr examining X at your request we ...?

    Yes


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    #75
    pizzamad
    Registered Users Posts: 119 ✭✭pizzamad


    Whats the difference between life assurance and endowment??


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    #76
    MangoMachine
    Registered Users Posts: 149 ✭✭MangoMachine


    pizzamad wrote: »
    Whats the difference between life assurance and endowment??

    As far as I'm aware, endowment is a type of life assurance. An Endowment Policy is a type of life assurance where the money is paid out upon an agreed age or death- whichever comes first.


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    #77
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    pizzamad wrote: »
    Whats the difference between life assurance and endowment??

    Endowment is a sub policy of life assurance .

    It is when a policy is taken out for an agreed period of time.It either gives the insured person a lump sum at the end of that period or pays an agreed amount if the person dies before the maturity date .


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    #78
    yaEHya
    Registered Users Posts: 114 ✭✭yaEHya


    Anyone have any general business notes?


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    #79
    Beca19
    Registered Users Posts: 337 ✭✭Beca19


    Could someone help me please!
    I'm doing 2008 books of first entry and one of the entries for the analysed cash book is 'Short Ltd paid its account in full and this was lodged'

    How do I know how much it is and where does it go?!

    *2007


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    #80
    MangoMachine
    Registered Users Posts: 149 ✭✭MangoMachine


    Okay, for the club accounts what book do we put the income and expenditure account into, and also do we include the purchase or sale of fixed assets?


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    #81
    Oisin4
    Registered Users Posts: 72 ✭✭Oisin4


    If we get an analysed cash book question (not on p2 q1) do we have to draw the book ourselves?


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    #82
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    They have different pages for different accounts . All the templates are drawn out for us .

    Re:Sale or purchase of fixed asset in club account.

    NO IT NEVER GOES IN !!!!! Only depreciation of a fixed asset :)


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    #83
    MangoMachine
    Registered Users Posts: 149 ✭✭MangoMachine


    nanook5 wrote: »
    They have different pages for different accounts . All the templates are drawn out for us .

    Re:Sale or purchase of fixed asset in club account.

    NO IT NEVER GOES IN !!!!! Only depreciation of a fixed asset :)

    Does it go in the receipts and payments a/c?


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    #84
    Kelly090
    Registered Users Posts: 80 ✭✭Kelly090


    Beca19 wrote: »
    Could someone help me please!
    I'm doing 2008 books of first entry and one of the entries for the analysed cash book is 'Short Ltd paid its account in full and this was lodged'

    How do I know how much it is and where does it go?!

    *2007
    Enter in the debit side the amount owed to you by Short Ltd. You take the figure from the general journal and enter it on the debit side of the analysed cash book, because they paid the amount owed by them on full :) hopefully thats right! And good luck today!


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    #85
    nanook5
    Registered Users Posts: 927 ✭✭✭nanook5


    MangoMachine wrote: »
    Does it go in the receipts and payments a/c?

    Yes


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    #86
    Beca19
    Registered Users Posts: 337 ✭✭Beca19


    Kelly090 wrote: »
    Enter in the debit side the amount owed to you by Short Ltd. You take the figure from the general journal and enter it on the debit side of the analysed cash book, because they paid the amount owed by them on full :) hopefully thats right! And good luck today!

    Thank you :D


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