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Today's Exam How'd it go?

Mikey_Pee

Posted 15 May 2006 - 03:29 PM

Sat the exam last year, but I'm interested in what the topics/questions were?

How did you all get on?

ILS

Posted 15 May 2006 - 03:32 PM

Just got back from the exam, financial half seemed fairly ok but management stuff seemed pretty tough. Biggest problem was time, I actually missed out 15 marks of theory and 16 marks of Q.8 huh.gif Ok so thats 169/200 max, my balance sheet for Q.1 didn't quite balance, and im sure there's quite a bit wrong with my second part of Q.6. Despite all this im still hopeful of getting a decent grade coz maybe the mistakes were quite minor.

How did everyone else find it? What do u reckon they're gonna do to the pass mark this year? cool.gif

Gill

Posted 15 May 2006 - 03:42 PM

QUOTE(ILS @ May 15 2006, 04:32 PM) View Post

Biggest problem was time

yeah totally agree with the time thing, dunno what happened, but i totally misjudged the last section and still had both theory questions to do and the majority of question 8 to do

my balance sheet in question one was about £60 000 out, lol, but i understand manufacturing accounts so it wasn't too bad

thought it was interesting that they used a plc for the compulsory question again, but it worked out better for me

my accounting teacher looked over it when i was on the hunt for my umbrella and said it didn't look too tricky, but i felt a couple of the things added in(like the LIFO question for calculating prices) was different to most questions which threw me a bit, but i doubt the pass rate will be lowered a lot, if any


ILS

Posted 15 May 2006 - 04:23 PM

Thinking about it now, I think the time must've been lost in Q1. because they've never asked for a manufacturing a/c on top of the trading & profit + loss and appropriation a/c's and balance sheet. The extra account was compensated with less entries and adjustments in the other accounts, but psychologically it must've felt as if things were on schedule as normal, EXCEPT for the fact that time was taken on the manufacturing a/c too!! I think it's pretty stingy of the SQA to do this, how can they expect candidates to do manufacturing, trading, profit and loss and appropriation a/c's and balance sheet in 37.5 minutes?!?!? crazzzyyy!!! mad.gif

destiny determined otherwise

Posted 15 May 2006 - 04:28 PM

Yeh time was a problem for me aswell. the manufacturing bit through me as i didnt expect it to be compulsary. apart from those two things all went well i hope. i was wonderin if anyone could help me out wit one o the questions though. it was either q2 or 3 u had to make a current account for Bacall i think it was. it was a 10 marker but seemed to easy when i did it. could someone perhaps say the correct answer cause im a bit unsure.

*...dancin...dudette...*

Posted 15 May 2006 - 09:01 PM

This exam never went to plan at all...had no clue how to do question 6, i was completely stumped! Infact, the whole management section was awful...Theory questions were pretty straight forward though couldn't have asked for better ones. Hope they lower the pass mark, even a tiny bit! What was it last year?

On question 8, what did everyone get for the Fixed Assets per department?

ILS

Posted 15 May 2006 - 09:27 PM

QUOTE(*...dancin...dudette...* @ May 15 2006, 10:01 PM) View Post

Hope they lower the pass mark, even a tiny bit! What was it last year?

On question 8, what did everyone get for the Fixed Assets per department?


Well last year it was 135 (67.5%) for an A, B was 114 (57%), C was 94 (47%), D was 84 (42%). I reckon the grading boundaries will probably be fairly stagnant.

Yeah that fixed assets question was interesting, I did it wrong and got decimals initially, then had to use wrong figures for the rest of it, probably ok coz of consequential error. However, i quickly changed my fixed costs answers at the end to what i think was right (but not the following answers :S):

Dept. A - 2,000*5=10,000, Dept. B - 3,750*4=15,000. 10,000:15,000=10:15=2:3 ---> Total Fixed Costs=25,000, 2/5 of £25,000=£10,000 - Dept. A, 3/5 of 25,000=£15,000 - Dept. B CHECK: 10,000+15,000=Total Fixed Costs (25,000) cool.gif

If you do what I did initially: Dept A - Fixed Costs=(25,000/9)*5=£13,888.89?!?!, Dept B - Fixed Costs=(£25,000/9)*4=£11,111.11?!?! Using these figures made following answers a bigger joke than these ones are.

So i think i ended up with the correct answers written down scrappily but all my remaining answers used the wrong answer i'd worked out before, reckon i'll still get the marks for them?

*...dancin...dudette...*

Posted 15 May 2006 - 10:06 PM

QUOTE(ILS @ May 15 2006, 10:27 PM) View Post


Dept. A - 2,000*5=10,000, Dept. B - 3,750*4=15,000. 10,000:15,000=10:15=2:3 ---> Total Fixed Costs=25,000, 2/5 of £25,000=£10,000 - Dept. A, 3/5 of 25,000=£15,000 - Dept. B CHECK: 10,000+15,000=Total Fixed Costs (25,000) cool.gif




I did the first bit and just wrote down the workings 2000*5 = 10,000 and 3750*4= 15,000 and then just identified them for each department... i didn't go into the ratios though? Think that was a mistake. unsure.gif

Thanks for clarifying the rest of that though smile.gif

ILS

Posted 15 May 2006 - 10:18 PM

QUOTE(*...dancin...dudette...* @ May 15 2006, 11:06 PM) View Post

QUOTE(ILS @ May 15 2006, 10:27 PM) View Post






I did the first bit and just wrote down the workings 2000*5 = 10,000 and 3750*4= 15,000 and then just identified them for each department... i didn't go into the ratios though? Think that was a mistake. unsure.gif




Yeah unfortunately I think that is a mistake as it is just a coincidence that labour hours*units for each added together also makes 25,000 (hours though). Not to worry though, that's only a one mark mistake!! I used the wrong Fixed Cost answers i originally got, for parts (b) and © - is that alright coz of consequential error? what further confuses the matter is at the end i corrected my fixed cost answers, but didn't scribble out the wrong ones so they'd know why I was using them for (b) and ©. How much do you reckon i'll get penalised?



*...dancin...dudette...*

Posted 16 May 2006 - 02:54 PM

i doubt it'll be more than two or three marks, i wouldn't worry too much =)!

And yeah, consequential marks should save me quite a bit in this exam hopefully!

ermd

Posted 22 June 2006 - 10:11 PM

Could someone send me a copy of the paper via PM if possible - as a former accounts student I'd live to give it a swatch!

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