Official Accounting Exam Discussion

[*Roxxii*]

The bank ledger reconstruction u had to use cash receipts and cash payments as the cross reference. i did the reconstruction first so i shood have got it all right.

did everyone remember to include the accrued commision rev in the receipts for bank, cause it said at the end oft he period there was to be no accrued or prepaid expenses left?

Ooooooooooops i forgot...

[davo]

the exam wasnt that hard. i thought unit 3 was worse. apart from that table thing with the inc/dec shit everythin was pretty easy straight foward i thought.
i ran out of room on the ledger question as well. but now ive realised is all you have to do is total the cash receipts and payments journals. went over it 1000 times until i decided that vcaa had made a mistake lol. obviously not

[costargh]

In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?

I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.

we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...

[*Roxxii*]

Hmmm, everyone seems to have found the table with increase and decrease hard...
I also thought it was hard at the time when i was in the exam...but once i came out a thought about it clearly and it seems quite easy...
Grrr, i dont wanna think about that bit haha, could have got maybe 3 extra marks if i was thinking clearly

[*Roxxii*]

In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?

I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.

we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...

I began writing each payment seperately, then realised there was no way it would fit, so then i changed it to cash payments Grrr wasted so much time.

And oh crap, did we have to put which accounts decreased and increased  Uh ohs..........

[costargh]

Ok i just looked thru the exam again. i might be overreacting. i think AT MOST i cooda lost 12 marks so according to lasy year that wooda still been an A+ but that range is 99% for sure gonna fall this year cause this years exam was much harder than last years. I really bloody hope i didnt drop more marks than that :@

[costargh]

In the giant table did u have to put like Increase (stock control)
or just the increase or decrease or no effect etc?

I know u didnt have to do ammounts but usually in the other format ur required to do stock control for example next to increase.

we did have to do cash receipts and cash payments in the bank ledger reconstruction right? that was the only way that it wooda fit...

I began writing each payment seperately, then realised there was no way it would fit, so then i changed it to cash payments Grrr wasted so much time.

And oh crap, did we have to put which accounts decreased and increased  Uh ohs..........

im not sure if we did. for some of them i put the account name but then it got too confusing so i stopped doing it lol

[*Roxxii*]

CRAP, i just looked at the question book...it says identify for Baxter's Beds the effect of each...bla bla...

IDENTIFY!!!!!!!!!

AHHH i just lost 7 marks..........  

[costargh]

Yeh doesnt that mean...

IDENTIFY the effect? and the effect is increase decrease or no EFFECT?

[*Roxxii*]

Hmm...i hope so.
But still, it seems a bit easy if all we had to do was write the effect...hmm...i have no idea now..
Either way, the max i can get on that question is around 3.
I spent about 3-4 minutes on it, probably less...lol and just wrote anything. The only ones i'm confident about are the first 2 transactions, worth 1 mark each i think...

[shadezofemerald]

i might have stuffed up that table on the last few maybe? i wasn't thinking right and may have done it wrong....

[davo]

all you had to do was show the increase or decrease etc. it was worth so many marks because towards the end assets were decreasing and increasing and you had to work out which it was overall. for example when the cash was paid assets went up but on the same date stock control went down because of the delivery. the first two easy ones were only worth one mark

[*Roxxii*]

Hmm...the last few were worth the most

I'm guessing it was...
21 Nov- Order : No effect x3
25th Nov- Deposit : Increase, Increase, No effect.
21st Dec- 15 beds delivery: Decrease, No effect, Decrease
15th Jan- Increase, Decrease, Increase.

I might be wrong though...lol, but if i'm right, it doesn't seem too hard at all.
Those weren't the answers i put though i have no idea what i put lol.

[RD]

The bank ledger reconstruction u had to use cash receipts and cash payments as the cross reference. i did the reconstruction first so i shood have got it all right.

did everyone remember to include the accrued commision rev in the receipts for bank, cause it said at the end oft he period there was to be no accrued or prepaid expenses left?

fuck I did that wrong, grr.. that exam was a bitch.
Fuck I think I got really really shit in that exam. It felt worse than the mid-years for me which got me a B.... Grrr

[davo]

losing only a few marks in this is alright. much better then the ones i lost yesterday in further