how'd everyone go?

[Stormer]

What did you guys talk about for the difference between profit and profitability?

profit is difference revue less expenses were profitability is ability to pay short term debts, obviously expanded on that though

Yup

[Yitzi_K]

What was up with the question "Why did the accountant ask for the sales figures?". It was such a wierd question, obviously you can't make a budget without the sales figures.

[sooeyy]

What did you guys talk about for the difference between profit and profitability?

profit is difference revue less expenses were profitability is ability to pay short term debts, obviously expanded on that though

You mean profitability is the firms ability to generate profit relative to a base? You're talking about liquidity

[Yitzi_K]

What did you guys talk about for the difference between profit and profitability?

profit is difference revue less expenses were profitability is ability to pay short term debts, obviously expanded on that though

Yup

um that's liquidity not profitability... I hope you only made that mistake here and not on the actual exam

[sooeyy]

What was up with the question "Why did the accountant ask for the sales figures?". It was such a wierd question, obviously you can't make a budget without the sales figures.

I expanded on that mind process. LOL.

[Chavi]

What did you guys talk about for the difference between profit and profitability?

profit is difference revue less expenses were profitability is ability to pay short term debts, obviously expanded on that though

Profitability is the firm's ability to earn profit in relation to another base such as Assets, OE etc. . .
It has little to do with liquidity. .

[Stormer]

My bad, didn't read that part. But yeah, ability to earn profit, can be compared against a base

[cheese360]

Pretty easy exam...although it was pretty long, except for that last question - that was a total pain. Apparently my teacher said they probably won't count the last question...I really hope that's the case =/

[LFTM]

I put $21. I thought the 20 cents was too irrelevent.
There goes another mark.
But where in the question did it say it was treated as a product cost?

[mmmmm]

I put $21. I thought the 20 cents was too irrelevent.
There goes another mark.
But where in the question did it say it was treated as a product cost?

Omg i did the exact thing! I was like hmmm relevance.  It's insignificant.

[eeps]

I put $21. I thought the 20 cents was too irrelevent.
There goes another mark.
But where in the question did it say it was treated as a product cost?

Omg i did the exact thing! I was like hmmm relevance.  It's insignificant.

Same.

It said "The accountant decided to treat the Transport and Insurance and Spray costs as products costs rather than period costs."

Which I didn't read. >.<

[LFTM]

I put $21. I thought the 20 cents was too irrelevent.
There goes another mark.
But where in the question did it say it was treated as a product cost?

Omg i did the exact thing! I was like hmmm relevance.  It's insignificant.

Same.

It said "The accountant decided to treat the Transport and Insurance and Spray costs as products costs rather than period costs."

Which I didn't read. >.<

Omg totally did not read that.

[eeps]

If I get over 80, I'll be happy.

[ks04]

I put $21. I thought the 20 cents was too irrelevent.
There goes another mark.
But where in the question did it say it was treated as a product cost?

Omg i did the exact thing! I was like hmmm relevance.  It's insignificant.

Same.

It said "The accountant decided to treat the Transport and Insurance and Spray costs as products costs rather than period costs."

Which I didn't read. >.<

I happened to notice it as i was re-reading the question... bit of a dud question though because most people would assume it was not material and thus not relevant... *sigh* hopefully the rest of my exams won't be as poor as this one!

[LFTM]

I've just counted and i've definitely lost more than 10 marks.