Accounting Exam Discussion Thread

[JWalks1127]

I said the effect only of the cost of sales entry in the stock control account. Cost of sales would decrease gross profit, net profit and increase cost of sales in the income statement. Stock control would also be credited so it would decrease value of stock control asset in balance sheet and decrease the total equities in the accounting equation.

It was asking about the cost of sales on the debit side so it has the opposite effect (it increase NP, decreases cost of sales and increases stock control in the balance sheet)

[brisbane99]

Jason mate!! I used to go to waverley, who does accounting in year 11???

[partition]

Could someone please help me out?

Accounting -
Ga 1 - mid 80
Ga 2 - low 80
Ga 3 - 55/100

What study score would I be looking at with these? I know it's just my accelerated subject and I shouldn't be too worried, but please help me out, I'm stressing out so much

[redcracker]

Could someone please help me out?

Accounting -
Ga 1 - mid 80
Ga 2 - low 80
Ga 3 - 55/100

What study score would I be looking at with these? I know it's just my accelerated subject and I shouldn't be too worried, but please help me out, I'm stressing out so much

depending on cutoff etc low to mid 30s

[partition]

depending on cutoff etc low to mid 30s

Thanks for answering!
Do you think it could go below a 30? I'm just thankful that my grades this year in SACS will help me

[redcracker]

Thanks for answering!
Do you think it could go below a 30? I'm just thankful that my grades this year in SACS will help me

im not sure, possibly, but id air on the side of not

[findingthetruth]

Bit of a weird exam - theory was easier and limited, and the prac was difficult compared to most exams.
Was rushed for time when normally I'm not.

[Jason12]

It was asking about the cost of sales on the debit side so it has the opposite effect (it increase NP, decreases cost of sales and increases stock control in the balance sheet)

oh ok I think I said that in the actual exam.

Jason mate!! I used to go to waverley, who does accounting in year 11???

not sure about year 11.

[JWalks1127]

oh ok I think I said that in the actual exam.

It's relieving that someone else only did the cost of sales part. I talked to my teacher afterwards and they said unless a lot of the markers agree that what we did is correct/acceptable, odds are we will only get 1/5 or 2/5 which I think is completely unfair

[chasej]

It's relieving that someone else only did the cost of sales part. I talked to my teacher afterwards and they said unless a lot of the markers agree that what we did is correct/acceptable, odds are we will only get 1/5 or 2/5 which I think is completely unfair

oh that's interesting, that there are teachers agreeing the full effect of a sale return should have been recorded. it was a pretty bad question to cause this much ambiguity.

Thanks for answering!
Do you think it could go below a 30? I'm just thankful that my grades this year in SACS will help me

Probably not below 30, you'd be surprised how low some people can score. Are you sure you only got ~50%? like sometimes when you over think things you can feel that you did worse than you actually did, it's quite unlikely to go from A in SACs to just passing in an exam if your SACs were of reasonable difficulty.

[partition]

Probably not below 30, you'd be surprised how low some people can score. Are you sure you only got ~50%? like sometimes when you over think things you can feel that you did worse than you actually did, it's quite unlikely to go from A in SACs to just passing in an exam if your SACs were of reasonable difficulty.

After adding it up ( I was quite generous with my self)I got around a 66% however I'm just going with my worst case scenario. I'm actually quite annoyed at myself for making such stupid mistakes. I think during reading time I underestimated the difficulty of the exam and to be quite honest, I spent a lot of time preparing my self for 6 mark discussion questions with principles and characteristics. A shame that this exam didn't venture the way I wanted it to. I was hoping for a 35 and above before going into the exam and now I'm hoping for an above 30. Oh well, 2015 here I come I guess 

[abcdqdxD]

Does anyone have a copy of the exam?

[chasej]

Does anyone have a copy of the exam?

I thought I uploaded a copy and linked it on the last page in this thread? Or does the link not work?

[abcdqdxD]

I thought I uploaded a copy and linked it on the last page in this thread? Or does the link not work?

Sorry missed it Exam looks reasonable, but very long.

[redcracker]

Sorry missed it Exam looks reasonable, but very long.

the only question which i felt was overly difficult was the cash flow statement, but i guess its good because it creates separation (i hope im not separated lol).

i also felt that almost every single question had tricks in it and was difficult. overall when you added it all together it was a very difficult exam. personally i thought it was the hardest vcaa exam ever, and probably the hardest paper i've done. i also felt that some theory questions were very unrewarding - some questions which would normally be 4 or 5 were only 2 or 3.