Revision thread - Accounting (AQA) Unit ACCN1 - 10 January 2012 (pm)

Okay lool ... That's peace of mind ... Let's hope we've both got it right :smile:

I've messed up my net profit and balance she :| ... and intotal that was worth 33 marks.

Don't worry if it didn't balance, you don't get extra Marks for making it balance, it's the step by step guide you take and the calculations....
But the one that pissed me off lol was the bank reconciliation, I prefer doing it when it is in written format...did you get your balance to agree with the bank statement ?

Reply 181

humaira.k

Original post by princess_meera

I only got 1 other which increased the profit which was the prepayment... Apart from that I found all the others decreased the profit accept for the transfer from personal account which has no effect ...

Same here, i know someone else who did exact the same so id say we got it right lol woooo

Reply 182

Mr.money

my profit was 50585..
and yeh there was 2 that increased the profit, the stock which was already done for you, and prepayments.. the 2500from savings had no effect, the rest reduced the net profit..

Balance sheet balanced on 45954 straight away.. so all good

and yeh for source document, i wrote direcrdebit one = bank statement and cheque = cheque counterfoil.. there was a lot of theory in this paper, compared to previous years..

A*'s - for the bank recon benifits i has the same as you

"assists in prevention of fraud A's bank statement is an independent record" (1st point)

"enables out of date cheques to be identified and written back" (2nd point, i wrote them both)
"identifies dishonoured cheques to seek repayment from debtors"

i also wrote.. enables mistakes to be identified in the cash book and corrected, and allows mistakes in the bank statement to be identified and notified to the bank for corrections

what did everyone write for the definition of 'LODGEMENTS' ?

Reply 183

dan94adibi

14

Original post by princess_meera

Okay lool ... That's peace of mind ... Let's hope we've both got it right :smile:

I've messed up my net profit and balance she :| ... and intotal that was worth 33 marks.

you would probably loose 4-5 marks if it doesnt balance and for getting wrong net profit.
so you still get around 29 marks which is ok.

Reply 184

dan94adibi

14

Original post by Robzillor

lets hope the country in general ****ed this up and the boundaries are lowered. (Y)

Yh lets hope. If its lowered to 64 I might have a shot at an A but last year was 70, if its the same I have no chance.

Reply 185

A*'s

Original post by Mr.money

my profit was 50585..
and yeh there was 2 that increased the profit, the stock which was already done for you, and prepayments.. the 2500from savings had no effect, the rest reduced the net profit..

Balance sheet balanced on 45954 straight away.. so all good

and yeh for source document, i wrote direcrdebit one = bank statement and cheque = cheque counterfoil.. there was a lot of theory in this paper, compared to previous years..

A*'s - for the bank recon benifits i has the same as you

"assists in prevention of fraud A's bank statement is an independent record" (1st point)

"enables out of date cheques to be identified and written back" (2nd point, i wrote them both)
"identifies dishonoured cheques to seek repayment from debtors"

i also wrote.. enables mistakes to be identified in the cash book and corrected, and allows mistakes in the bank statement to be identified and notified to the bank for corrections

what did everyone write for the definition of 'LODGEMENTS' ?

for outsanding lodgements i wrote
" Bank deposits recorded in the cash book, but have not yet been processed by the bank"

Reply 186

princess_meera

Original post by A*'s

Don't worry if it didn't balance, you don't get extra Marks for making it balance, it's the step by step guide you take and the calculations....
But the one that pissed me off lol was the bank reconciliation, I prefer doing it when it is in written format...did you get your balance to agree with the bank statement ?

True but mine did balance but just different to everyone else's :/ ... And yeh my bank reconciliation did match the cash book... I got £1160 O/D... What did u get?

Reply 187

omgg

9

i wrote invoice for the first question on the last page, would that be ok?

Reply 188

bexy1991

In two words Epic Fail. The exam was so much harder than any of the previous years ones. I think I got the balance sheet/sfp correct but that is about it. In the practice ones I have been getting A's but ill be lucky to scrape a c in this exam. Hated the bank rec, I was dreading that coming up and was right to completely screwed it up.

Reply 189

Robzillor

Original post by omgg

i wrote invoice for the first question on the last page, would that be ok?

I dont think so mate, if i recall it was Direct Debit in which the source document is Bank Statement because it is funds moving through the banking system, i can see why you put Invoice. Unless there is more than 1 example that can be used for Direct Debit source document, i think you got it wrong mate :/

Reply 190

Robzillor

Original post by dan94adibi

Yh lets hope. If its lowered to 64 I might have a shot at an A but last year was 70, if its the same I have no chance.

Is that 70/80 to get an A last year? So 86% about? That is ****ing ridiculous, I don't believe that this exam will warrant 86% to get an A, the amount of little niggles it had I'm sure 95% of the country dropped 10 marks somewhere along the way.

(edited 12 years ago)

Reply 191

dan94adibi

14

Original post by Robzillor

Is that 70/80 to get an A last year? So 86% about? That is ****ing ridiculous, I don't believe that this exam will warrant 86% to get an A, the amount of little niggles it had I'm sure 95% of the country dropped 10 marks somewhere along the way.

Hope so.
Im sure it would be lowered than last year.
Any one I have talked to has dropped so many marks on 1B and bank rec and the net profit plus the balance sheet.
I believe they might even have to even reduce it to 60.
you can't just have 10% of the people gtting A and the rest with a C/D.

Reply 192

yayifications

9

Original post by princess_meera

True but mine did balance but just different to everyone else's :/ ... And yeh my bank reconciliation did match the cash book... I got £1160 O/D... What did u get?

I got £1160 on my cash book but I reconciled starting with the bank statement balance which was 1207? & didn't get down to 1160 again. I got like, 1254 or something lol. D: At least my cash book was right then? That was worth more marks.

Reply 193

princess_meera

Original post by yayifications

I got £1160 on my cash book but I reconciled starting with the bank statement balance which was 1207? & didn't get down to 1160 again. I got like, 1254 or something lol. D: At least my cash book was right then? That was worth more marks.

Yes in my cash book I got £1160... and on my bank reconciliation I started with the bank statement of £1207 and finished with £1160 so I reckon I managed to get that then :smile:

phew

Reply 194

yayifications

9

Original post by princess_meera

Yes in my cash book I got £1160... and on my bank reconciliation I started with the bank statement of £1207 and finished with £1160 so I reckon I managed to get that then :smile:

phew

Ugh I just did it again on a calculator and got it to balance!
So angry ugh. ):

Reply 195

afzal123

2

this exam was freaking hard. Got an A in my mock, dont even stand a chance of getting an A in this exam! urggh! usually its about 80% for an A. Do you guys think it will be lowered to something like 75%??

Reply 196

andreotti gazi

guys.. can u tell me where i can find un-official Marks - scheme or any thread of Accounting AS (edexcel) which was held yesterday ??

Reply 197

princess_meera

I went through the paper during the lesson with my teacher today and I reckon I have got about 75% although my teacher reckons I should be able to get a few more marks and get an A ... Overall I'm a bit calm now