what do you think will be on this exam seeing as its the last year of new design

[Anon123]

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)

[nacho]

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

[RossiJ]

Brackets is essential

[AT]

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.

[huss48]

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.

[huss48]

well done AT for picking that up.

i have update that error and re-attached on page 1.

any errors please say.

[molllz]

do we have to use brackets in the variance reports when we state the variance for like negative numbers??

[likeialwaysdo]

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.