My Accounting Paper Prediction

Cotsy

I fecked it up, didnt read it properly and ended up takin 1/3 of buildings as drawings! Thats gonna cost me big time.

Prezatch

The rent was paid on an "additional" premises (as in its nothing to do with the buildings mentioned in the question). I took one third of the rent, put it into drawings and reduced the charge of rent in the P+L

TaraC

ne1no what u do with patent royalites?it was in d published account

Prezatch

Reduce the admin expense, put royalty fees in as a gain in the P+L

Webmonkey

Wasn't fair tbh. I just added it to the balance sheet, didn't have a clue what i was at.

TaraC

dats wat i did!good guess!

Beau

Africa wrote:

ACtually thats just what i mean. It is less. I mean...learn the manufacturing account, i mean by now we should know P&L and Balance sheet. And the adjustments. Saves having to learn other stuff that COULD come up insteadof what nearly defo will come up.

I know it dose`nt matter now but for anyone in the futre who comes across this thread.

In Section 1 there are 4 possibilities for Q1. (i) Manufacturing, (ii) Depatmental, (iii) Sole Trader and (iiii) Company Accounts

for Q2, 3, 4 there are 8 posibilities such as (i) Cash Flow Statements, (ii) Tabular Statements, (iii) Control Accounts, (iv) Suspense, (v) Depreciation/Revaluation of Fixed Assets, (vi) Club Acs/Service Firm/Farm Acs, (vii) Incomplete Records (Ratio Method) and (viii) Published Accounts.

All (i), (ii), (iii), (iv), (vi), (vii) and (viii) come up in Section 2. That means there are only two new things to learn and you are covering yourself for section 2 aswell meaning less work. Plus its also fairly predictable and most people find them easier and they are way quicker to do. I was finnished Section 1 in 30-40 minutes in the exam.

Africa

But the manufacturing this year was SOOOOOO tipped that it was fine. Most of the stuff could be predicted this year.