First entry & ledger q (business)

S_Hick12 · 30-05-2014 06:50PM #1

Is anyone actually gonna do this. My teacher did an extra class just for this and about 8 people showed up. It looked easy when he did it but doing one by myself seems impossible. How does anyone remember where everything goes. I know its guaranteed to come up, but i think i'll take my chances and hopefully get lucky with the other questions.

VG31 · 30-05-2014 07:24PM

I'm not doing it. My teacher had an extra class as well. But this close to the JC I didn't want to do it. I'm doing every other accounting question. There should be no problem not doing this question as long as you make sure you know the questions that often come up on paper 2 very well. I would advise doing Q4 (T+P+L & BS) or else you will have no choice question wise.

smiles_1998 · 30-05-2014 07:44PM

Our teacher did it with us back before Christmas I think...once you get the hang of it it's actually a grand question but you do have to like accounting. If you aren't doing it you really have to know your documents well for the documents question and a good Trading, Profit and Loss is essential.

Mr Rhode Island Red · 30-05-2014 07:49PM

I was one of the two lads in our year who actually did this question (out of about 70 business students in total) for the mocks, and we both got 40/40. I just like it because its guaranteed although I will admit it can be time consuming (takes me about 40 minutes, I think we're supposed to allocate like 30 minutes per question in paper 2 but :pac:)

Combine books of first entry, business documents, and TPL and Balance sheet guaranteed, that means I'll just have to chance my arm at a fourth from whatever choice is left.

I agree with VG31, leave books of first entry and just make sure you know what to do for the other questions.

Just looking at the Chief Examiner's Report from 2012 for JC Business Studies here http://www.examinations.ie/archive/examiners_reports/2012_Chief_Examiner_Report_JC_Business_Studies.pdf

It shows that the Books of First Entry was the least popular question in Paper 2, with only 30% of candidates attempting it.

airbus125 · 30-05-2014 08:07PM

My business teacher started teaching it us at the end of 2nd year and we gradually made it into a full question by october mid term. We then did 1 every Monday and most of my class will do it.

Most people who do it get very high marks in it and it is easy once you know what you are doing but it took us months to perfect it so I wouldn't go learning it now

ConorFTW · 30-05-2014 08:49PM

I also struggle with the trading p & l accounts and don't have a clue what goes where. Anyone mind explaining it to me please?

VG31 · 30-05-2014 08:54PM

ConorFTW wrote: »

I also struggle with the trading p & l accounts and don't have a clue what goes where. Anyone mind explaining it to me please?

If you don't have any idea what you are doing I wouldn't do this question. But it does mean you won't have any question choices for Paper 2 on the day. If you want to learn it have a look at a the marking schemes on examinations.ie or solutions on http://www.e-xamit.ie/

Manutd_4life · 31-05-2014 01:54PM

We spent like two months doing the ledgers and stuff and in the end only about 6-7 people in our class got the hang of it including me

. I have a great knack for accounting and will probably be doing all the accounting questions in the exam which is great because they come up every year. Its great for pushing your grade up

nanook5 · 31-05-2014 04:49PM

I know how to do question 1 P2 but I think its too risky .

There will be far easier questions on P2 than this question.

I'm definitely doing the T+PL & BS and bookkeeping questions as I usually get full marks in these .

Marketing has a good chance of coming up IMO and you usually only have to draw a poster and do some relatively easy questions.

and hopefully channels of distribution come up :P

First entry & ledger q (business)

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