ATAR Notes: Forum
Archived Discussion => Written Examinations => 2008 => End-of-year exams => Exam Discussion => Victoria => Accounting => Topic started by: costargh on November 06, 2008, 01:59:12 pm
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Holy cow. that was ridiculous. i hope everyone else found that as hard as i did. that was off the face of vce accounting planet.
i cant believe it.
thank god i started with the account reconstructions on question 2 cause they took sooo long to do (at least i probz got them right).
fuck im so upset. my enter is screwed now. i cant believe this.
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Jackassssss
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i'm crying!! totally off my expectation, got 3 panic attacks..so depressed!!!!!
on the other hand i hope it was hard for everyone else to so my bad result wouldb't be so bad..if it makes any sense!?
i onli got one ledger recontrustion and stuffed the depreciation question...boooohoooooo!!!
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yeh i gotta say. i hope eveyrone else found it hard. otherwise my enter is fucked.
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Was MUCH harder than I expected, but overall not too bad. Although WTF WAS WITH THAT PREPAID SALES REVENUE QUESTION. ARGH that threw me off.
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n there goes my 40 + study scores, i wanted it as my top 4 too..
...i guess i have to accept it....shit happens, not much use cryin over it...
now, i better study for methods, oh yea........
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SURELY the A+ grade grade would drop from 2007!!!
Last years exam was 77.5/90 for A+ and this years exam compared to that was MUCH harder IMO.
I'm tipping a fall to around 74/90 (keeping in mind that the midyear A+ was 76/90 and compared to this, this exam was WAYYY harder)
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WTF Westgate is looking more appealing, the 07 Exam of Accounting was so simplistic and all of a sudden VCAA implement the bullshit and create an exam that was far off any practice exams I have done. Although i'm not that distraught I think my possible exam score could be at minimum C+ maximum B even though I have been averaging the A+ in SAC's In semester 2 and A in Semester 1 and recieved a B+ for Semester 1's exam. Thank you VCAA now I might face possible employment at the garbage disposals.
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Hi guys
it was difficult in some aspects but overall it wasn't too bad. that big table with increase , decrease no effect was nasty, took quite a lot of time, and they didnt give you enough room in the bank ledger so u had to limit it to cash receipts and cash payments and balances.
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Yeh, but the things u found difficult , i found difficult. Just the attitude is differnt. I dont like finding ANYTHING difficult in accounting and when i do (on a number of times in this fucken exam) it makes me cut and pessimistic.
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about the cash receipts and payments, i realised that you had to sum them up and write one figure each in but i thought..geez soo much working out i skipped and continued with the next question coz if i dwelled on that i would've lost more marks. I just hope i earned enough marks to get a B...at least a B that is....
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Yeh, but the things u found difficult , i found difficult. Just the attitude is differnt. I dont like finding ANYTHING difficult in accounting and when i do (on a number of times in this fucken exam) it makes me cut and pessimistic.
lol, got the same attitude here, especially when sacs are 514515 times easier
it was a difficult exam, but now that i think about it, only a few parts were hard
i thought the mid year was hard, but this was called HARD
thats what we have to expect i guess
how did yous all go??
finish or what?
i guess no use crying about it, atleast we tried our best..
did anyone else run out of room on the bank ledger reconstruction..
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Jackassssss
noooott random at all
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The bank ledger reconstruction u had to use cash receipts and cash payments as the cross reference. i did the reconstruction first so i shood have got it all right.
did everyone remember to include the accrued commision rev in the receipts for bank, cause it said at the end oft he period there was to be no accrued or prepaid expenses left?
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Hmm...yea i agree it was quite difficult.
I found the account reconstruction pretty hard, as you couldn't fit all the cash payments in the bank ledger and there was no extra room to do working out.
Overall, i'm pleased with how well i handled this exam given its difficulty, although there are some things i think i approached the wrong way.
That big table with increase, decrease or no offect was like giveaway marks, almost a whole mark for one word.
But i rushed that and stuffed that up, and spent more time on things worth less marks and took MUCH longer :P
Oh well, its over now. I'd be happy with an A on this one.
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The bank ledger reconstruction u had to use cash receipts and cash payments as the cross reference. i did the reconstruction first so i shood have got it all right.
did everyone remember to include the accrued commision rev in the receipts for bank, cause it said at the end oft he period there was to be no accrued or prepaid expenses left?
Ooooooooooops i forgot...
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the exam wasnt that hard. i thought unit 3 was worse. apart from that table thing with the inc/dec shit everythin was pretty easy straight foward i thought.
i ran out of room on the ledger question as well. but now ive realised is all you have to do is total the cash receipts and payments journals. went over it 1000 times until i decided that vcaa had made a mistake lol. obviously not
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In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?
I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.
we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...
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Hmmm, everyone seems to have found the table with increase and decrease hard...
I also thought it was hard at the time when i was in the exam...but once i came out a thought about it clearly and it seems quite easy...
Grrr, i dont wanna think about that bit haha, could have got maybe 3 extra marks if i was thinking clearly :P
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In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?
I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.
we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...
I began writing each payment seperately, then realised there was no way it would fit, so then i changed it to cash payments :( Grrr wasted so much time.
And oh crap, did we have to put which accounts decreased and increased :o Uh ohs..........
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Ok i just looked thru the exam again. i might be overreacting. i think AT MOST i cooda lost 12 marks so according to lasy year that wooda still been an A+ but that range is 99% for sure gonna fall this year cause this years exam was much harder than last years. I really bloody hope i didnt drop more marks than that :@
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In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?
I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.
we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...
I began writing each payment seperately, then realised there was no way it would fit, so then i changed it to cash payments :( Grrr wasted so much time.
And oh crap, did we have to put which accounts decreased and increased :o Uh ohs..........
im not sure if we did. for some of them i put the account name but then it got too confusing so i stopped doing it :( lol
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CRAP, i just looked at the question book...it says identify for Baxter's Beds the effect of each...bla bla...
IDENTIFY!!!!!!!!!
AHHH i just lost 7 marks.......... :o
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Yeh doesnt that mean...
IDENTIFY the effect? and the effect is increase decrease or no EFFECT?
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Hmm...i hope so.
But still, it seems a bit easy if all we had to do was write the effect...hmm...i have no idea now..
Either way, the max i can get on that question is around 3.
I spent about 3-4 minutes on it, probably less...lol and just wrote anything. The only ones i'm confident about are the first 2 transactions, worth 1 mark each i think...
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i might have stuffed up that table on the last few maybe? i wasn't thinking right and may have done it wrong....
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all you had to do was show the increase or decrease etc. it was worth so many marks because towards the end assets were decreasing and increasing and you had to work out which it was overall. for example when the cash was paid assets went up but on the same date stock control went down because of the delivery. the first two easy ones were only worth one mark
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Hmm...the last few were worth the most :(
I'm guessing it was...
21 Nov- Order : No effect x3
25th Nov- Deposit : Increase, Increase, No effect.
21st Dec- 15 beds delivery: Decrease, No effect, Decrease
15th Jan- Increase, Decrease, Increase.
I might be wrong though...lol, but if i'm right, it doesn't seem too hard at all.
Those weren't the answers i put though :( i have no idea what i put lol.
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The bank ledger reconstruction u had to use cash receipts and cash payments as the cross reference. i did the reconstruction first so i shood have got it all right.
did everyone remember to include the accrued commision rev in the receipts for bank, cause it said at the end oft he period there was to be no accrued or prepaid expenses left?
fuck I did that wrong, grr.. that exam was a bitch.
Fuck I think I got really really shit in that exam. It felt worse than the mid-years for me which got me a B.... Grrr :-\
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losing only a few marks in this is alright. much better then the ones i lost yesterday in further
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
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Fuck I screwed the depreciation question. Got some weirdo ass figure like $2733 or $2833 got that felt weird cause some of my friends got answers completely different :( Fuck this has just ripped my motivation :-[
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yeh the key to doing well is finishing. a mate of mine didnt get anywhere near finishing the unit 3 exam n still ended up with a B, if he had of finished would of ended up much higher. i still dont see how the average score for last years exam was around 50% considering it was so easy. this years will be lower than that as well. a lot of people must have no clue
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It was hard but not that bad.
The 7 mark table was a killer.
I lost a few marks elsewhere too.
Oh well.....
Question 1 was super easy (40/45 I'd say).
Question 2 was hard in parts (30/45 I'd say).
70/90 probz ;) A lolz
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
and wtf
no p+l or Cash flow statment ? wtf
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
and wtf
no p+l or Cash flow statment ? wtf
Thank god! I just realised thats why I felt so good about it. I HATE them.
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I was expecting one.. but meh. I didn't think that I got the reconstruction fully correct. Man.. that exam just really sunk my motivation.
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i wodda loved a p+l. way better than bloody reconstructing all those ledgers (although i think i got them all right :) )
only thing im happy about.
what did u guys say for the efficiency of the business at the end of question 1?
improve, deteriorate, remain unchanged or unable to determine?
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I circled improve. My reasoning was really shit so I won't get full marks >:( Fuck, thinking about this is just making me more and more depressed.
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it was improve because the stock and debtors turnovers were quicker meaning the business had used its assets better to generate revenue
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If everyone did shit, scaling will do its wonders...
I circled improve...
What was the accounting principle?
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yeh those vcaa guys are bastards, they could av given us a nice little cash receipts journal for a couple of marks before working out the bank reconstruction.
And yeh i said improving cos the cash cycle decreased which is more efficient cos the business had used its assets better to generate revenue
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I think i epic failed and i got A+ on mid years...there goes my accounting. That prepaid revenue question was just stupid, it was exact same as last year, but this year you couldnt just put it into the general journal, like wtf why'd they change the accounting procedure. WHAT ABOUT CONSISTENCY
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OH FUCK I DIDNT CIRCLE ANY OF THEM!!! I JUST SAID THAT IT WOOD IMPROVE AND EXPLAINED IT. I HAD 30 SECONDS TO ANSWER THAT QUESTION CAUSE I DID IT LAST. OH FUCK... HOPE I DONT GET ANAL MARKERS WHO ARE FUCKED IN THE HEAD
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Fuck I just went over my exam don't think ill even get 60/90 fucking hell, I got that for mid years and felt like shit getting a B now it looks even fucking worse. Fuck, there goes any chance of getting 34.
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
If it is Anthony Simmons u're talking bout then u're lucky 2 have had such a good teacher.
Generally speaking, @ least the exams this year did reasonably well in testing actual knowledge, not how many stupid little mistakes 1 can make under exam conditions.
I'll put money on 73/90, judging by every1's unhappiness XD
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i reckon i'll get high 50s maybe lol. Hopefully i get 30 SS
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OH FUCK I DIDNT CIRCLE ANY OF THEM!!! I JUST SAID THAT IT WOOD IMPROVE AND EXPLAINED IT. I HAD 30 SECONDS TO ANSWER THAT QUESTION CAUSE I DID IT LAST. OH FUCK... HOPE I DONT GET ANAL MARKERS WHO ARE FUCKED IN THE HEAD
Examiners do their best 2 give marks where they're allowed 2.
If u've clearly stated 'improve' I reckon u'll get the marks, even if u didn't circle it.
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
If it is Anthony Simmons u're talking bout then u're lucky 2 have had such a good teacher.
Generally speaking, @ least the exams this year did reasonably well in testing actual knowledge, not how many stupid little mistakes 1 can make under exam conditions.
I'll put money on 73/90, judging by every1's unhappiness XD
Yeah its Simmo. Top teacher that man.
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
If it is Anthony Simmons u're talking bout then u're lucky 2 have had such a good teacher.
Generally speaking, @ least the exams this year did reasonably well in testing actual knowledge, not how many stupid little mistakes 1 can make under exam conditions.
I'll put money on 73/90, judging by every1's unhappiness XD
Yeah its Simmo. Top teacher that man.
yeah it's my old man
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Hmm...the last few were worth the most :(
I'm guessing it was...
21 Nov- Order : No effect x3
25th Nov- Deposit : Increase, Increase, No effect.
21st Dec- 15 beds delivery: Decrease, No effect, Decrease
15th Jan- Increase, Decrease, Increase.
I might be wrong though...lol, but if i'm right, it doesn't seem too hard at all.
Those weren't the answers i put though :( i have no idea what i put lol.
First one and second one are right
3rd is the one that gets tricky , 15 beds delivered means that sales is 7500, 2000 prepaid, 5500 debtors, + 750 GST
Cost Price means that stock control decreases 4500 and cost of sales increases/net profit decreases 4500
Overall
assets increase 1750 (increase 6250 (debtors + GST) - cost price 4500)
liabilities decrease 1250 (prepaid sales revenue decreases 2000, GSt liability increases 750)
Owners equity increase 3000 (sales increases 7500, less cost of sales 4500)
4th one
5 beds delivered
assets increase 1250 ( Debtors control 2500 + 250 GST less stock 1500), the fact that all money was paid is simply a restructure of assets. assets still increase tho
liabilities increase 250 (GST clearing 250)
Owners equity increases 1000 (2500 Sales revenue -1500 cost)
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My teacher, who is a marker and wrote the red textobook some of you might use, described the exam as 'insane', as in hard not nonsensical, and said that an A+ would be about 72 ish. I reckon a lot of people will have struggled to finish and missed out on the easy marks on the last 2 pages as well, cos of that weird arse table question.
Anthony Simmons?
Yeh, thank-god he agrees with me. Its like they tried to make everything to complicated. I feel sorry for the people who arnet very good at Accounting who whooo codda got like 30/90 and now looking at 5/90. so stupid
If it is Anthony Simmons u're talking bout then u're lucky 2 have had such a good teacher.
Generally speaking, @ least the exams this year did reasonably well in testing actual knowledge, not how many stupid little mistakes 1 can make under exam conditions.
I'll put money on 73/90, judging by every1's unhappiness XD
Yeah its Simmo. Top teacher that man.
yeah it's my old man
Fairly sure his kids are all primary school age.
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owned
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owned
OMG IT WAS TERRIBLE. IM SO CUT ANGRY FUCKEN PISSED OFF.
THAT WAS A PIECE OF SHIT. WAS RIDICULOUSLY HARD. HOLY FUCK TOOK SO LONG WAS WRITING TO THE LAST SECOND AND JUST FINISHED ON TIME. IM SOO EMOTIONAL THAT I CAN BARELY FORM WORDS. HATE WORLD. HATE LIFE
BYE
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i reckon i'll get high 50s maybe lol. Hopefully i get 30 SS
lol I did a count up before, I'm looking at 55-57/90. So pissed off cause I got 60/90 in mid years and that exam felt better compared to todays!
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owned
OMG IT WAS TERRIBLE. IM SO CUT ANGRY FUCKEN PISSED OFF.
THAT WAS A PIECE OF SHIT. WAS RIDICULOUSLY HARD. HOLY FUCK TOOK SO LONG WAS WRITING TO THE LAST SECOND AND JUST FINISHED ON TIME. IM SOO EMOTIONAL THAT I CAN BARELY FORM WORDS. HATE WORLD. HATE LIFE
BYE
point. id write it again now
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So, a high B, B+ and B get me like a 32 in Accounting? Fuck, wanted a 34 cause now it might not be in top 4 depending on how Further exam 2 went.
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Does anyone put answers up? (Just curious :))
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On the brighter side, I found the accounting exam to be easy, just really long. :smitten: A+ again for me :idiot2:
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Does anyone put answers up? (Just curious :))
look above i posted the answers to the increase decrease no effect table
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dammit i didnt take into account the gst clearing when doing the table.
will prob only lose 3 or 4 marks though.
how come so many people got A+ in mid year? there was 5 in my class
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Hmm...the last few were worth the most :(
I'm guessing it was...
21 Nov- Order : No effect x3
25th Nov- Deposit : Increase, Increase, No effect.
21st Dec- 15 beds delivery: Decrease, No effect, Decrease
15th Jan- Increase, Decrease, Increase.
21st is wrong, as u make a sale ur actually increasing assets overall, as debtors control increases at a higher rate then the decrease in stock control.
it should be increase, no effect , increase
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oshiz was there gst included in the increase/deacrease/no effect question? cos i remember in my last transactions i listed Liabilies as either inc/dec cos i was thinking about the gst..
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oshiz was there gst included in the increase/deacrease/no effect question?
yeh look on the previous page, i made a post about this question.
for the last two transactions there was an effect in every equity and asset
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nvm just red someones' asnwer lawl.
what did you guys do for the depreciation question?
did you split the 25,000 into 21,000 (dep'ed at 12 months) the 4000 the four thousand that was sold (dep`ed for like 9 months)
then the new 8000 shopfittings at deprecn of 6 months then add?
and what was the cost of the deluxe guitars, did youzeszes include the freight charge? so total of 180 per unit? ps. did people record Gibner Ltd as a sundry Creditor when recording the insurance on delivery ?? or was it someone else who provided the insurance on credit that was supposed to be a period cost? (or was it a period cost at all?)
lmao i said the cash sale would improve because they budgeted that it would -.-" and since they have a goal they're probably going to work towards it with planning. lol...couldnt think of something proper.
this exam was harder than the mid year... so long i barely finished. but then again i didnt finisht eh mid years. but it seemed like you had more thinking to do with this one lol. def i reckon the A+ cut off will be lower than that of the mid years !
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thanks `
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Hmm...the last few were worth the most :(
I'm guessing it was...
21 Nov- Order : No effect x3
25th Nov- Deposit : Increase, Increase, No effect.
21st Dec- 15 beds delivery: Decrease, No effect, Decrease
15th Jan- Increase, Decrease, Increase.
21st is wrong, as u make a sale ur actually increasing assets overall, as debtors control increases at a higher rate then the decrease in stock control.
it should be increase, no effect , increase
Ooooops my bad :P
Was thinking too simplistically lol
Heyyy...this means that there's a chance i actually did it correctly in the exam :P
Coz i thought about it differently haha...hmmmmz
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If Accounting was this hard, what hope do I have in Methods tomorrow? :(
EDIT: Sorry if this is irrelevant, but now I'm scared that VCAA are doing this with all their exams this year (except for English? :idiot2:)
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If Accounting was this hard, what hope do I have in Methods tomorrow? :(
EDIT: Sorry if this is irrelevant, but now I'm scared that VCAA are doing this with all their exams this year (except for English? :idiot2:)
Oh dw, you'll beat me if it's any consolation (in methods).
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hey guys....i think i stuffed up the product cost question...but i used that answer for the next question (cost price etc)....will i get consequential?
because i think that is all i got wrong and i think i could do very well (unless that screws me over)?
cheers in advance
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The prepaid sales question wasn't that bad if you had done last years exam...
the part that was a deposit went in the GJ (the 4 beds) and the sale of the rest (11) went in the sales journal.
THey had something like that last year though and they accepted 2 answers. This year the question wasnt as hard though.
Basically they ordered it (doesn't require any recording)
Then a deposit was made (received prepaid revenue) but only for part of it
sold the 15 beds (requires a BDA and also an entry in the sales jounal)
then sold the extra 5 beds - so thats another normal sales entry
what we had to do was the GJ for the BDA of the 4 beds and then the regular sales entry for the other 11 that make up the 15...
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hey guys....i think i stuffed up the product cost question...but i used that answer for the next question (cost price etc)....will i get consequential?
because i think that is all i got wrong and i think i could do very well (unless that screws me over)?
cheers in advance
U'll get consequential.
Examiners generally aim 2 only punish u once 4 a mistake.
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[/quote]
U'll get consequential.
Examiners generally aim 2 only punish u once 4 a mistake.
[/quote]
Thats good now i feel confident of dropping less than 5 marks. I went with my gut on that product costing question and got it wrong, but i did get the prepaid sales part right so if im not punished for that as well its all good :)
Only one other question is troubling me but i gave a solid definition so that should help
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owned
OMG IT WAS TERRIBLE. IM SO CUT ANGRY FUCKEN PISSED OFF.
THAT WAS A PIECE OF SHIT. WAS RIDICULOUSLY HARD. HOLY FUCK TOOK SO LONG WAS WRITING TO THE LAST SECOND AND JUST FINISHED ON TIME. IM SOO EMOTIONAL THAT I CAN BARELY FORM WORDS. HATE WORLD. HATE LIFE
BYE
Reversed ownage.
Well deserved too.