ATAR Notes: Forum
VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Accounting => Topic started by: yesyes123 on November 09, 2011, 11:11:16 pm
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what you thinking? anything new? those annoying theory questions
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I hear there could be a 10 mark stock card.
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stock cards are like free marks
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question 1 will consist of a 43 mark stock card with a 2 mark theory question on monetary unit
question 2 will be a 10 mark question on reconstructing ledgers, a 10 mark question on budgeting for a report, a 5 mark on another report. 6 marks dedicated to analysing these reports. 2 marks on what liquidity is. 2 marks on what profitability is then the rest will be explaining and identifying negative trends and improvements/benchmarks and whatnot.
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I don't know how to do the stockwritedown in a stock card :(
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45 mark definition of accounting
then another 45 mark stock card
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REMEMBER
11:45 am –1:30 pm
Accounting Exam 2
WHAT I THINK WILL BE ON THE EXAM:
- calculate the Accumulated Depreciation/Depreciation (not many got this right last year, they might put a similar question)
- disposal of NCA (GJ/theory questions)
- cash flow/balance sheet/profit and loss
-BDA (prepaid/accrued revenue) also theory
-sales/purchases return
-variance reports for cash and profit
- budgeting/ratios/ two benchmarks (will be a question) plus theory , liquidity,profitability, efficiency
-stockcard and stock writedown plus GJ (may theory as well)
- stock valuation , calculate product/period cost and theory , net realisable value
- reconstruct of accounts
-effect of transactions (accounting equation)
- deposit to CRJ.
also important to know all accounting principles and qualitative characteristics.
GOOD LUCK ALL! :)
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I heard from the Assessor cunt that there's going to be multiple choice
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some final revision questions, theory questions in exams 2007-2010: i've upload here some time ago (check page 1,2,3:
Accounting exams!
this below is a good practice for the exam tmr.
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some final revision questions, theory questions in exams 2007-2010: i've upload here time time ago:
Accounting exams!
this below is a good prac for the exam tmr.
huss you mad man
thank you so much!
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Do you guys think the trade in will be in the general journal ?
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question 1 will consist of a 43 mark stock card with a 2 mark theory question on monetary unit
LOL!
there will just be the common questions, all though it is the last year of the study design, its not like they can put in any new information, just reword questions and stuff.
there will be a question on loss/profit on disposal of a non current asset <-- if it's some long named current asset like Fixture and Fittings or some shit im gnna rage.
liquidity definition
product vs period cost
profit vs profitability
stock card
reconstruction
cash flow
profit loss
all the usual stuff :D
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just a couple of questions.
in variance reports do we have to put +/- next to the amount it varies by?
and in a cash flow statement, do we have to put brackets () around outflows?
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just a couple of questions.
in variance reports do we have to put +/- next to the amount it varies by?
and in a cash flow statement, do we have to put brackets () around outflows?
variance : no
Cash flow: i heard its recommended you do that lol
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im excited for this year's accounting
because the writer's are different and i scored higher on mid years than any trial exam i'd done. :D
i suggest before you answer a relatively straight forward question, look at it again and try to pick up some finer intricacy which 90% of the rest of the state will probably miss.
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just a couple of questions.
in variance reports do we have to put +/- next to the amount it varies by?
and in a cash flow statement, do we have to put brackets () around outflows?
Not for variance
For CFS, yes and no, depends on which way you do the question;
Either of
Operating Activities
xxxxx xxxxxx
xxxxx xxxxxx xxxxx
xxxxx (xxxxx)
xxxxx (xxxxx) (xxxxx)
Net...etc
OR
Operating Activites
Operating Inflows
xxxxx xxxxxx
xxxxx xxxxxx xxxxxxx
Operating Outflows
xxxxx xxxxxx
xxxxx xxxxxx xxxxxxx
(no brackets needed)
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just a couple of questions.
in variance reports do we have to put +/- next to the amount it varies by?
and in a cash flow statement, do we have to put brackets () around outflows?
Not for variance
For CFS, yes and no, depends on which way you do the question;
Either of
Operating Activities
xxxxx xxxxxx
xxxxx xxxxxx xxxxx
xxxxx (xxxxx)
xxxxx (xxxxx) (xxxxx)
Net...etc
OR
Operating Activites
Operating Inflows
xxxxx xxxxxx
xxxxx xxxxxx xxxxxxx
Operating Outflows
xxxxx xxxxxx
xxxxx xxxxxx xxxxxxx
(no brackets needed)
VCAA uses brackets regardless - see page 12. I'd do it just to be safe. The only time im sure you're not supposed to use brackets is when it's stated "less" at the top.
because that would imply a double negative = positive. if it said less cash outflows i wouldnt put brackets
http://www.vcaa.vic.edu.au/vcaa/vce/studies/account/assessreports/2009/accounting_assessrep_nov09.pdf
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Brackets is essential :)
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some final revision questions, theory questions in exams 2007-2010: i've upload here some time ago (check page 1,2,3:
Accounting exams!
this below is a good practice for the exam tmr.
Hey, I've been working through your revision questions and I'm not sure about one of the first questions. Question 1.4, I originally got 7000 like the solutions say, but looking back, it asks for the depreciation for the reporting period ending 30 June. Yet, in the original question, they traded in the old computer system on 1st April. Doesn't make sense. :-\ Any help here?
EDIT: Possibly the original purchase was meant to be March 2009, that'd probably fix things up.
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some final revision questions, theory questions in exams 2007-2010: i've upload here some time ago (check page 1,2,3:
Accounting exams!
this below is a good practice for the exam tmr.
Hey, I've been working through your revision questions and I'm not sure about one of the first questions. Question 1.4, I originally got 7000 like the solutions say, but looking back, it asks for the depreciation for the reporting period ending 30 June. Yet, in the original question, they traded in the old computer system on 1st April. Doesn't make sense. :-\ Any help here?
AT ur correct with that question, i just check my original revision and in fact thats the error:
IT SHOULD BE:
On 1 March 2009 the business had a complete shop refit and purchased new computers. Listed below are the transactions related to the computers purchased.
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well done AT for picking that up.
i have update that error and re-attached on page 1.
any errors please say.
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do we have to use brackets in the variance reports when we state the variance for like negative numbers??
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do we have to use brackets in the variance reports when we state the variance for like negative numbers??
no, because variance is just the difference, not the difference being higher or lower
dont use brackets or negative numbers for the variance.