***2015 LC Accounting - June 15th***

Anonymagician

Was that paper (section B in particular) completely awful or was I just horribly unprepared?

Blue giant

Anonymagician wrote: »

Was that paper (section B in particular) completely awful or was I just horribly unprepared?

Hopefully completely awful. I knew I should have studied cash flow. I only half knew the ratios for interpretation so that didn't go well. Q1 or incomplete records didn't work out. At least Q8 was nice. I was confident of an A1 but I'd say I'm looking at a B1 at best now. So disappointed

Jamies15

Extremely predictable but Christ that was ****ing hard

Scirpt

****ing **** Cash Flow. Thought I'd take a risk and only study Incomplete B since A was up the last time, that paid off. Had to attempt Incomplete A and Interpretation, terrible.

gingerme123

Anyone else think that was a bitch of a paper?

Aoife37

What did people get as answers for cash budget and Q1? Thought Q1 was hard compared to previous years but section 2 and 3 weren't too bad

gingerme123

Aoife37 wrote: »

What did people get as answers for cash budget and Q1? Thought Q1 was hard compared to previous years but section 2 and 3 weren't too bad

I got a negative number for the end of the budget, it seemed odd

Aoife37

gingerme123 wrote: »

I got a negative number for the end of the budget, it seemed odd

Same, around (900). Question 1 mine didnt balance but was around 1'300'000

gingerme123

Aoife37 wrote: »

Same, around (900). Question 1 mine didnt balance but was around 1'300'000

mine was around (900) too : )

leavingcert15

What did ye do with the bonus for directors, I put as a liability because they recommended it but I think it was an expense.

DarraghF197

Balancing figures:

Question 1: €1,243,233
Cash flow forecast: €-108000
Incomplete Records: €416,700

theRB

leavingcert15 wrote: »

What did ye do with the bonus for directors, I put as a liability because they recommended it but I think it was an expense.

It was both.

Seanh966

DarraghF197 wrote: »

Balancing figures:

Question 1: €1,243,233
Cash Budget: €-108000
Incomplete Records: €416,700

That's a very low figure for cash budget , myself and my class mates got (950)

leavingcert15

For the price earning ratio is that,
Market value of share/EPS?
Did ye get 12.67:1?

DarraghF197

Seanh966 wrote: »

That's a very low figure for cash budget , myself and my class mates got (950)

Sorry! That's my Cash Flow question! I'll edit it now.

DarraghF197

Anyone else get a mini heart attack when they opened it and thought it was a Departmental Account?! The new grids caught me out a bit.

YouKnowNothing

Balanced question 1
After that it wasn't great, ratios were grand but my incomplete was hopeless
Q8 was perfect

fin709

Anybody get these?
Q1, 1,234,383
Q6, (13000)
Q7, 416,700
Q9, (905) at the end of the budget

Aoife37

fin709 wrote: »

Anybody get these?
Q1, 1,234,383
Q6, (13000)
Q7, 416,700
Q9, (905) at the end of the budget

Got the same for question 6 and 9. Q1 was a bit off think I got 1,266,383 didn't do 7.

theRB

leavingcert15 wrote: »

For the price earning ratio is that,
Market value of share/EPS?
Did ye get 12.67:1?

Yep, you did it right.

johnh100

What was the formula for earnings per share, dividend yield and price earning ratio??

Iused2likebusts

I wonder will there be marks given for putting part b of ratios in a report format.

Jason_H

Question 3- 60/60
Question 4- 54/60
Question 7- 100/100
Question 8- 75/80

And then ****ing cash flow came along to **** it all up, max I got in that was 25, so I went from A1s all year to getting around a B2 in the actual thing.

Like how is this fair?? No one can actually learn off that whole course, so obviously people are gonna rely on predictions, we've been taught how to do them, thats what matters, so they should make the exam predictable so we can actually show off. So unfair.

fin709

Jason_H wrote: »

Question 3- 60/60
Question 4- 54/60
Question 7- 100/100
Question 8- 75/80

And then ****ing cash flow came along to **** it all up, max I got in that was 25, so I went from A1s all year to getting around a B2 in the actual thing.

Like how is this fair?? No one can actually learn off that whole course, so obviously people are gonna rely on predictions, we've been taught how to do them, thats what matters, so they should make the exam predictable so we can actually show off. So unfair.

There was four real possibilities for section B. Incomplete, cash flow, club and tabular. Not really asking you for the whole course

Jason_H

fin709 wrote: »

There was four real possibilities for section B. Incomplete, cash flow, club and tabular. Not really asking you for the whole course

Incomplete A
Incomplete B
Farm
Club
Tabular

That's five whole topics, no one predicted cash flow because it came up last year

Daire234

Did anyone else find the depreciation question really hard? Was it 9.5% for the depreciation?

theRB

Today was the first time I ever attempted a forwards method Incomplete Records question. I had no idea what I was doing, so sneaky from the SEC giving us that and a cash flow. My balances were 416,700 and 407,500 in the end so I think I might have made off alright out of it but still a really horrible section B.

DarraghF197

Jason_H wrote: »

Question 3- 60/60
Question 4- 54/60
Question 7- 100/100
Question 8- 75/80

And then ****ing cash flow came along to **** it all up, max I got in that was 25, so I went from A1s all year to getting around a B2 in the actual thing.

Like how is this fair?? No one can actually learn off that whole course, so obviously people are gonna rely on predictions, we've been taught how to do them, thats what matters, so they should make the exam predictable so we can actually show off. So unfair.

I don't mean to be annoying, but if you're going to take risks in Accounting, then you should have had Interpretations as back up. It's not asking a whole lot to learn the layout of a Cash Flow either. It also had a really good chance of coming up. I predicted it to come up with a Tab as well.

Daire234

Jason_H wrote: »

Incomplete A
Incomplete B
Farm
Club
Tabular

That's five whole topics, no one predicted cash flow because it came up last year

You can't classify incomplete A and B as to different questions, they are more or less the same thing, also cash flow was very predictable to come up this year as there is always either a published or cash flow every year and published wasn't going to come up

leavingcert15

EPS= net profit - preference dividends x100 ÷ no. of ordinary shares
Dividend yield = Dividend per share x100 ÷ ordinary dividends paid/proposed
Price earnings ratio = market value of share:EPS

Jason_H

Anyone have any solutions?