Business

Strokesa

Does anyone do business? Cos i was just wondering if theres any way i can get away with not studying trading, profit and loss accounts. I could never do them.

PurpleFistMixer

The TPL account is allegedly always somewhere on paper 2.
So... since you get a choice, you can pretty much not do it.

I'd definitely do it though, since it's basically a guaranteed 40 marks if you know it.

Daysha

The main things to know is banking, the consumer, insurance and the double entry system for the short questions.

Strokesa

PurpleFistMixer wrote:

The TPL account is allegedly always somewhere on paper 2.
So... since you get a choice, you can pretty much not do it.

I'd definitely do it though, since it's basically a guaranteed 40 marks if you know it.

How can you remember all those things? Its like a big long list of words that make no sense. Am i missing out on a technique or something? I dont know anyone else who finds it this hard and im not completely stupid or anything...Or y'know maybe i am...

PurpleFistMixer

It is a list of stuff, but it's just like the 9 point plan and everything, you just have to learn it off. Normally I hate learning things off like that, but I've been doing TPL accounts for the last 3 years, so it's reasonably ingrained into my mind at this point.

Fobia

What's this "9 point plan" you speak off? Is someone trying to pull a Stalin again?

*MmmPie*

Strokesa wrote:

How can you remember all those things? Its like a big long list of words that make no sense. Am i missing out on a technique or something? I dont know anyone else who finds it this hard and im not completely stupid or anything...Or y'know maybe i am...

There's a set way to do the question, once you learn how to do it, you're pretty much guaranteed 40 marks because it always comes up on Paper Two. The rules for Trading, Profit and Loss accounts were drummed into my head for the past 3 years! *begins to recite* Sales column 3, Minus Sales Returns Column 3, Net Sales Column 3, Less Cost of Sales, Opening stock....

PurpleFistMixer

Well... Business has always had a strange resemblance to communism, in my mind......

But 9 point plan.. you know, the layout for writing letters or reports?
Actually, speaking of which, does anyone have the 9 point plan for report writing? I've got my sheet for letter writing but .. never got a report one.

X-Man

Am I the only one who is ****ed in business?????

Fobia

PurpleFistMixer wrote:

But 9 point plan.. you know, the layout for writing letters or reports?

Never heard of it, I just write a letter or a report if asked to tbh

*MmmPie*

PurpleFistMixer wrote:

Well... Business has always had a strange resemblance to communism, in my mind......

But 9 point plan.. you know, the layout for writing letters or reports?
Actually, speaking of which, does anyone have the 9 point plan for report writing? I've got my sheet for letter writing but .. never got a report one.

Do you mean the reports for business commenting on Liquidity/Profitabilty etc. of a firm?

PurpleFistMixer

*MmmPie* wrote:

Do you mean the reports for business commenting on Liquidity/Profitabilty etc. of a firm?

Well, yeah. You can also get asked reports for consumer and club accounts.

So nobody knows the 9 point plan? o.o My god, my business teacher told us if we didn't know our 9 point plan we'd basically fail letter and report writing.

Anyways, I'll just stick it up here in case anybody is curious.

LETTER WRITING
1 - Sender's Address and Telephone Number
2 - Date the letter was written
3 - Name and Address of Recipient
4 - Salutation
5 - Introduction (Ie why the letter was written)
6 - Main Body of the letter.
7 - Follow Up (what you'd like to happen as a result of the letter)
8 - Close (yours sincerely/yours faithfully)
9 - Signature of sender and title or position

Strokesa

Oh dear god im ****ed...

philologos

PurpleFistMixer wrote:

It is a list of stuff, but it's just like the 9 point plan and everything, you just have to learn it off. Normally I hate learning things off like that, but I've been doing TPL accounts for the last 3 years, so it's reasonably ingrained into my mind at this point.

accounting has been drilled into me over the last few years but one of the most important rules tht will help you understand most accounts is
Credit the Giver
Debit the Reciever

*MmmPie*

PurpleFistMixer wrote:

Well, yeah. You can also get asked reports for consumer and club accounts.

So nobody knows the 9 point plan? o.o My god, my business teacher told us if we didn't know our 9 point plan we'd basically fail letter and report writing.

Anyways, I'll just stick it up here in case anybody is curious.

LETTER WRITING
1 - Sender's Address and Telephone Number
2 - Date the letter was written
3 - Name and Address of Recipient
4 - Salutation
5 - Introduction (Ie why the letter was written)
6 - Main Body of the letter.
7 - Follow Up (what you'd like to happen as a result of the letter)
8 - Close (yours sincerely/yours faithfully)
9 - Signature of sender and title or position

Oh right yeah that report, sure its just common sense really.

knifey_spoonie

Bollocks i did no accounting in my mocks and got 70 something so just dont do it

Diarmsquid

knife_fighter wrote:

Bollocks

I didn't know you could say that! Bollocks. Bollocks.
SO got anymore of those "nine point plans" or "credit the giver, debit the reciever"??

They're good.

PurpleFistMixer

For remembering how to sign off your letter - "Have faith in the people you don't know"

Daysha

For the exam tomorrow, do we have to bring in our own record book sheets for final a/c questions, household budget?

*MmmPie*

No no, they give them to you.

Daysha

good

Fobia

Tbh that 9 point plan is how I'd write a formal letter regardless....jobhunting teaches you that if nothing else

PurpleFistMixer

Yeah, it's fairly common sense. I'll stick up the 9 point plan for report writing now...

1 - Name and address of person writing the report. (address can go all on one line)
2 - Title of report
3 - Date
4 - Name and address of recipient of report, of just the people it's directed to. (ie members of a club)
5 - Introduction ("I was asked by you...")
6 - Main body
7 - Closing
8 - Signature
9 - Title of the person who wrote the report.

*MmmPie*

Just wondering, how many of you are planning on definitely doing Q1 on Paper 2, the Ledger Question?

Hugh Hefner

Business is an almost guaranteed A! It's so mindless. Can't wait for a day of easy exams.

Big Ears

*MmmPie* wrote:

Just wondering, how many of you are planning on definitely doing Q1 on Paper 2, the Ledger Question?

Thats a **** of a question , wouldn't touch it with a 20 foot barge pole .
Its just a matter of learning it off but theres so much to remember for it i'd be afraid i'd forget other stuff .

PurpleFistMixer

*MmmPie* wrote:

Just wondering, how many of you are planning on definitely doing Q1 on Paper 2, the Ledger Question?

Not me. We haven't even done double entry bookkeeping.
I did it in the mocks, though. Didn't do too horribly considering.

It's sort of bad though, because double entry bookkeeping comes up in the short questions and I... don't know how to do it so well. I mean, I've got a vague grasp but I don't like knowing that there's a big chunk of the course I haven't even learned.

Mimikyu

This post has been deleted.

Fobia

PurpleFistMixer wrote:

Not me. We haven't even done double entry bookkeeping.
I did it in the mocks, though. Didn't do too horribly considering.

It's sort of bad though, because double entry bookkeeping comes up in the short questions and I... don't know how to do it so well. I mean, I've got a vague grasp but I don't like knowing that there's a big chunk of the course I haven't even learned.

Don't worry about it, my class have done it hundreds of times and exactly half (our class was split into too halfs, a "geek" half and a like to have fun half, me being on the latter of course ) of us don't have the slightest clue how to do accounts. When the teacher would say "which side does it go on?" we'd have great fun guessing. I just avoided all of those questions in the mocks...

philologos

erm just remember this
Credit Giver Debit Reciever and you can do double entry bookkeeping

PurpleFistMixer

Anybody know what the 'accumulated fund' is? I vaguely recall it has something to do with assets and liabilities but can't remember correctly...