21 replies to this topic

[Mikey_Pee]

Hey

So accounts is a small subject. Therefore there is limited amount of help to be gained on the internet. If you have a ny problems, lets have them posted up here. Hopefully someone can refer you to booklets, past paper answers or give you the answers yourself.

First off, is there any easier way to remember the Goodwill and Revaluation accounts for Partnerships? I know most of everything else, just these two are most likely to come up!

[Discogirl17]

What is service costing? I haven't studied yet man please tell me

[Kevin_Kilbane]

Opportunity Costs.

Hate them and we spent less than a period on them.

[Discogirl17]

What is service costing?

[wikked-dfc]

Discogirl are you actually studying accounts yet you haven't been taught service costing? Its new this year and likely to be the compulsory 50-marker in management!

[Mikey_Pee]

I don't get how this is so likely? Just because it was the compulsory question in the SQP! If anything I'm not expecting it to come up! But I'll be revising it anyway.

Discogirl17, I can't help you there because I haven't revised it yet. It also goes under the name of "Operations Costing". Does anyone have time to scan some booklets for her?

[Discogirl17]

Oh operations costing, no I know what that is. Thanx.

[Mikey_Pee]

wikked-dfc - I've thought about this SQP business with Service Costing and because the topic was taken out back in the 80's, and it is back in this year they (The SQA) have very little to show for the topic besides booklets that have been distributed and the SQP example, which needed to be the biggest question as it is really the only SQA question we have on it. Clubs have been in and out of the exam for years and therefore we have stuff from it.

EDIT: I stand corrected. It is/was an Advanced Higher topic and is used in Higher now, hence its difficulty. I have three questions on it all together, therefore I am further doubting it'll be the top question in managerial. Think about it. How many schools actually do Adv Higher accounts? I know mine doesn't. If they don't then where are they going to get materials from to teach the topic extensively enough. Furthermore, when revising it, we have three questions, with one being in the Specimen Paper. How can it come up as the 50-marker when we haven't been able to study it very much. I am almost certain it'll be in the exam though as a 40 marker.

Me and my logical thinking!

[wikked-dfc]

I still think it will be in somewhere it may not be compulsory, although I hope it is, so there is another example of it at higher level for the next couple of years to use as practise. We spent weeks doing service costing and we have four or five past paper questions on it and a book of about 20 questions that are quite good. I don't really find it hard though compared to BEP and Process costing. It seems to be a straight forwar question where you can get loads of marks for having common sense.

[Mikey_Pee]

Very true, but you really gotta know it all to pass an Accounts exam these days. You are so much more likely to have EVERYTHING in there, especially in the financial section. I am sure of it being a choice question now. But I can't think of what could be the compulsory. I'm just hoping to God not Process Costing or Job Costing. I'd die!!! C'mon Stock! lol

[wikked-dfc]

IMO service costing is the only part of Management which could have a 50 mark question on its own. If not it'l be a mixture of say Overheads and job cost statements or Stock and JOb Costing. Unless Production and Cash budgets. I forgot about them they are big questions which could be 50 pretty simple marks.

[Mikey_Pee]

That'd be incredible if that came up. Cash Budgets really hasn't got too much harder since Standard grade. You've only got your Sales + Production budgets, then the Standard Grade stuff.

[wikked-dfc]

I wouldn't mind JOb Costing just like Service Costing IMO as in that all you really have to do is copy out numbers and add them up. We got Overhead analysis and two job Cost statements in the prelim and they got me an easy 50/50 in the compulsory management question but I'm now sure it'll be Service or Budgets but since it is the first year the exam won't as testing as previous ones(Hopefully)

[Mikey_Pee]

lol, we seem to constantly have differing opinions! I am of the opinion that we will get a very tough exam. Either way, with a little more revision this morning, I'll be sorted for an A providing the right topics come up. Highers depend far too much on luck!

Anyway, good luck to you all! Discogirl17, wikked-dfc, Kevin and anyone else sitting it this afternoon! Check back here and let us know how you got on.

[wikked-dfc]

Yep I'm going into school at 11am to get in some late revision so hopefuly we all get questions to suit us so GOOD LUCK EVERYONE! and you all have to come on and share your answers afterwards.

[Moral Fabric]

Yep I'm going into school at 11am to get in some late revision so hopefuly we all get questions to suit us so GOOD LUCK EVERYONE!  and you all have to come on and share your answers afterwards.

thanks, i definately needed it, lol

[Discogirl17]

God, I'm gutted. I was doing crash higher so this talk of standard grade didnt help. I got an A in the prelim, but I dont think I will have got that in the exam. I'm doing accounting at uni though and have been accepted so it really doesnt matter.

[Moral Fabric]

God, I'm gutted. I was doing crash higher so this talk of standard grade didnt help. I got an A in the prelim, but I dont think I will have got that in the exam. I'm doing accounting at uni though and have been accepted so it really doesnt matter.

s'alrite for some, i need a ABBBC to get into Strathclyde Business School to study business!!

[Discogirl17]

Thats not that hard. I'm sure you'll be ok.

[Moral Fabric]

Thats not that hard. I'm sure you'll be ok.

it is for me, I'm not the brightest something in the,....something