Sundy creditor

[mojomojo]

I hope they don't... it is totally unfair for the people who got it correct.

But it's also totally unfair for people who have never heard of it.

[Akirus]

I hope they don't... it is totally unfair for the people who got it correct.

I really hope they ask you to identify the qualitative characteristics of financial reports as per The Framework, including all of the subsets + explanations in the next paper, followed by an asset test for intellectual property which factors in all definitions and recognition criteria. Lets not worry that it's not in the study design, or that it's using the updated Conceptual Framework; it's not fair to the people who'd get it right, amirite?

[kakar0t]

I hope they don't... it is totally unfair for the people who got it correct.

But it's also totally unfair for people who have never heard of it.

True true, it's MOST LIKELY NOT A SUNDRY CREDITOR. However if it is I would be very cross at mr. vcaa for conveniently altering their marking scheme.

I hope they don't... it is totally unfair for the people who got it correct.

I really hope they ask you to identify the qualitative characteristics of financial reports as per The Framework, including all of the subsets + explanations in the next paper, followed by an asset test for intellectual property which factors in all definitions and recognition criteria. Lets not worry that it's not in the study design, or that it's using the updated Conceptual Framework; it's not fair to the people who'd get it right, amirite?

Hahaha yep (Y)

[Yitzi_K]

I hope they don't... it is totally unfair for the people who got it correct.

That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.

[kakar0t]

I hope they don't... it is totally unfair for the people who got it correct.

That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.

Accounting study design dot points:

the use of the general journal to record infrequent non-cash transactions (GST not applicable):
– establishing a double entry system
– correction of errors
– contribution of non-current assets by the owner
– withdrawals of stock by the owner
– bad debts;

Doesn't look likely that its a sundry creditor... it HAS to be something other than a sundry creditor...

[Akirus]

I hope they don't... it is totally unfair for the people who got it correct.

That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.

Accounting study design dot points:

the use of the general journal to record infrequent non-cash transactions (GST not applicable):
– establishing a double entry system
– correction of errors
– contribution of non-current assets by the owner
– withdrawals of stock by the owner
– bad debts;

Doesn't look likely that its a sundry creditor... it HAS to be something other than a sundry creditor...

The answer IS sundry creditor... that's the problem.

[Yitzi_K]

Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.

[Albeno69]

Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.

were did u hear that vcaa admitted there was a problem?

[kakar0t]

Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.

were did u hear that vcaa admitted there was a problem?

Man this is so intriguing haha, I want to know too!!!

[Yitzi_K]

My teacher knows someone who works in the Accounting department there, she said that she phoned today and she was told there's been loads of complaints, and that nothings been decided yet about what they're going to do, but yes, it was a unit 4 question.

[Raahem]

yeah similar story, my mum knows a guy who knows a guy (yes it sounds made up but its not!) who's an assessor and is complaining too

[mojomojo]

yeah similar story, my mum knows a guy who knows a guy (yes it sounds made up but its not!) who's an assessor and is complaining too

Good, keep complaining please. :-)

[smacko]

My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?

[mojomojo]

My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?

Don't think so. :/
But is sundry creditor really a Unit 4 thing?

[Akirus]

My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?

Don't think so. :/
But is sundry creditor really a Unit 4 thing?

Yes, without doubt.