Accounting Exam Discussion Thread

[abcdqdxD]

I wrote oversupplied to customer and therefore the customer returned it or is this wrong?

Although in theory it works, it may/may not be accepted. Generally oversupply of stock to customers will be detected by a stock loss and customers are assumed to act in self interest and not return anything.

[JustAnotherPrivateSchoolBoy]

ga1: 96/100
ga2: 94/100
ga3: 87/100

What do you think I'm looking at score wise fellas?
Give me some good news please

[redcracker]

ga1: 96/100
ga2: 94/100
ga3: 87/100

What do you think I'm looking at score wise fellas?
Give me some good news please

depending on sac scaling and cutoffs obviously : last years distribution would put you on around 40-42, so maybe this year around 41-44. but im terrible at this type of this thing take this with a grain as salt


96/100
99/100
90,94,98/100

estimates for each possibility please?

[Miokovic]

GA1: 94/100
GA2: 96/100
GA3: 84/100

Possible study score seeing as though exam A+ cutoff is predicted to be a bit lower than last years?

[JustAnotherPrivateSchoolBoy]

Sorry for opening the flood gates for study score predictions  haha.

Maybe we should open another thread for it?

[chasej]

Although in theory it works, it may/may not be accepted. Generally oversupply of stock to customers will be detected by a stock loss and customers are assumed to act in self interest and not return anything.

No. It can't be a return, all returns come on credit notes. Returns which don't result in a credit note aren't on the study design, all returns either reduce amount owed from debtors or amount owed to creditors.

The only study design relevant option is a capital contribution of stock.

[abcdqdxD]

No. It can't be a return, all returns come on credit notes. Returns which don't result in a credit note aren't on the study design, all returns either reduce amount owed from debtors or amount owed to creditors.

The only study design relevant option is a capital contribution of stock.

No it wouldn't be a sales or purchases return per se because there was no valid sale (and hence no credit note). It isn't in the study design, but it is a legitimate point. Doubtful it will be accepted though.

[arose]

What study score am I looking at getting with average SAC grades 96% and a 90/100 in the exam? Thanks in advanced

[lisax3]

Was the bond and the net realisable value range in the study design? Because I've never ever seen questions like these in textbooks or practice exams

[redcracker]

Was the bond and the net realisable value range in the study design? Because I've never ever seen questions like these in textbooks or practice exams

the bond was, but the net realisable value range i had never seen before either

[chasej]

the bond was, but the net realisable value range i had never seen before either

Following conservatism the lowest value in the range needed to be used.

[redcracker]

Following conservatism the lowest value in the range needed to be used.

i thought as much, and this is also consistent with cuong's solutions

[Jfloz]

Yeah that's the only possibility, but I was talking to an accountant I know and they said that it could've been like a credit bonus from the supplier, where due to the firms ongoing relationship with the supplier they have donated some stock items.

But I assume this is far beyond our course.

For question 4 the memo entry relating to the inflow of stock , even if a donation or bonus inflow of stock from the supplier or even a different supplier, charity etc. for that matter is "far beyond our course" should it not still be accepted!

[PretentiousPrivateSchoolboy]

For question 4 the memo entry relating to the inflow of stock , even if a donation or bonus inflow of stock from the supplier or even a different supplier, charity etc. for that matter is "far beyond our course" should it not still be accepted!

Yeah, it's plausible, I can see some teachers arguing for it in the markers meeting. But the fact that it's not in the study design, as far as I can see, that may be a problem. Although, it's kind of a stupid vague question, so this should be a debated issue.