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

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Reply 100
Avatar for sukhys
sukhys
2
i didnt do the paper but i have seen the it, and personally the question for rent and rates was unfair. also there was Alot to do with bank reconciliation. alot of definitions and a calculation to do using the method where you had to tick what appeared on both the cb and bank statement etc. there wasnt no income statement, however the adjustment to net profit were a bit tricky especially the annual rates.
Reply 101
Avatar for adco123
adco123
I just finished the exam and i have done past paper after past paper leading up to the exam and half of the stuff in the exam I just done, I have never witnessed. Does anyone remember what final figure they got on the balance sheet.

Thanks.
Reply 102
Avatar for adco123
adco123
Original post by sukhys

Original post by sukhys
i didnt do the paper but i have seen the it, and personally the question for rent and rates was unfair. also there was Alot to do with bank reconciliation. alot of definitions and a calculation to do using the method where you had to tick what appeared on both the cb and bank statement etc. there wasnt no income statement, however the adjustment to net profit were a bit tricky especially the annual rates.


I 100% percent agree!!
My balance sheet figure was something like 48,615? I think. I know my balance sheet was 60 out. :/
But I forgot to add the money she took from her savings to the bank overdraft so I know that was wrong.
My corrected net profit ended up being 55255, lol. Originally I got 54445. :/

First question was disgusting! I don't remember ever doing that. Did anyone try and balance them off again lol?

My bank rec didn't agree either.
I just hope my written questions save me... I'm pretty sure I've got the majority of marks for those.
(edited 12 years ago)
Reply 104
Avatar for sukhys
sukhys
2
there was alot of written questions which was unusual as unit 1 normally has a lot of calculations. i have unit 2 coming up monday, so i might revise extra hard, especially the theory, (which noone likes lol).
Reply 105
Avatar for adco123
adco123
Original post by yayifications

Original post by yayifications
My balance sheet figure was something like 48,615? I think. I know my balance sheet was 60 out. :/
But I forgot to add the money she took from her savings to the bank overdraft so I know that was wrong.
My corrected net profit ended up being 55255, lol. Originally I got 54445. :/

First question was disgusting! I don't remember ever doing that. Did anyone try and balance them off again lol?

My bank rec didn't agree either.
I just hope my written questions save me... I'm pretty sure I've got the majority of marks for those.


I am in the exact same position as you except i did my balance sheet completely wrong.

What was your bank rec figure do you remember?
Original post by theboyridge
Haven't seen the paper, how was the exam?
What did you struggle with?
The few students I have spoken to struggled to Balance their Balance sheet, what was your experience?

From what I can tell, suspense/control accounts / income statements didnt come up and the past papers, especially the most recent didnt really help. What would you say?

Good to hear your thoughts, I don't see my students till Friday or the paper till tomorrow!!


The first question involved accrued and prepaid expenses where you had to enter them into the rent and rates account, which I found awful. I don't recall ever learning it. S:

Second was bank rec, mine didn't reconcile correctly but that was fairly straight forward.

There was a balance sheet and a lot of written questions about standing orders, credit transfers, direct debits and cheques. Lots of definitions.
Original post by adco123
I am in the exact same position as you except i did my balance sheet completely wrong.

What was your bank rec figure do you remember?


I don't remember. D: I started with the bank which was 1207, added lodgements which were 255? Took away the unpresented cheques which were 208 (if I remember correctly) and got 1254. Yeah, that looks familiar.

My cash book balance was 1160.

The fact that she'd got 163 wrote down and the bank had 136 completely threw me. I'm good at bank rec and I had no clue how to approach it. At first I CR'd her cash book for 163 but I have no idea. I spoke to another girl and she said hers worked but didn't tell me how she did it.
Reply 108
Avatar for sukhys
sukhys
2
Original post by yayifications
I don't remember. D: I started with the bank which was 1207, added lodgements which were 255? Took away the unpresented cheques which were 208 (if I remember correctly) and got 1254. Yeah, that looks familiar.

My cash book balance was 1160.

The fact that she'd got 163 wrote down and the bank had 136 completely threw me. I'm good at bank rec and I had no clue how to approach it. At first I CR'd her cash book for 163 but I have no idea. I spoke to another girl and she said hers worked but didn't tell me how she did it.


by what i can tell, there must be an error which u had to correct. 163 - 136 = 27
Original post by sukhys
by what i can tell, there must be an error which u had to correct. 163 - 136 = 27


Yeah, it said the bank was right, so I knew her cash book figure was wrong. I'd never came across errors when doing bank rec before so didn't know how to approach it. I did try and do something with 27 in the exam but I still arrived at the same figure, 1160. :/

Really surprised/disappointed that none of the errors not shown by a trial balance came up.
Reply 110
Avatar for humaira.k
humaira.k
wow that test was hardest harder than any other past paper.
the rent and rates question was hard, did not get it (1B) who agrees

also the last page was hard
Original post by humaira.k
wow that test was hardest harder than any other past paper.
the rent and rates question was hard, did not get it (1B) who agrees

also the last page was hard


What did you write for the definition of a cheque?
I just wrote that it's a way of paying someone and in a business only a few people, for example the cashier, are allowed to issue cheques to reduce fraud. Complete guess lol. :s-smilie:
Reply 112
Avatar for humaira.k
humaira.k
Original post by yayifications
The first question involved accrued and prepaid expenses where you had to enter them into the rent and rates account, which I found awful. I don't recall ever learning it. S:

Second was bank rec, mine didn't reconcile correctly but that was fairly straight forward.

There was a balance sheet and a lot of written questions about standing orders, credit transfers, direct debits and cheques. Lots of definitions.





Nevermind being learnt it i had never seen it before. it was so hard had no idea what it was talking about


the bank rec was hard
Reply 113
Avatar for humaira.k
humaira.k
Original post by yayifications
What did you write for the definition of a cheque?
I just wrote that it's a way of paying someone and in a business only a few people, for example the cashier, are allowed to issue cheques to reduce fraud. Complete guess lol. :s-smilie:



LOL that definition took the piss.
this is my guess:
i wrote a cheque is something you give to the bank in return for money or to check-in. Daft i know.

your guess sounds right
Reply 114
Avatar for TeH1Jc
TeH1Jc
I've done literally every past paper there is averaging B's, and this was by far the hardest I've ever done. Was praying Bank Reconciliation wouldn't come up, and it did horribly, couldn't get any solid answers for the trickier parts of each question, especially 1.b) and the Balance Sheet (which I was close to balancing, another 5 minutes and I think I'd have cracked it thinking about it). Only thing I did great was the explanation of key terms.

I really think that grade boundaries will be lowered, and I think I'll be resitting!
Reply 115
Avatar for humaira.k
humaira.k
Original post by TeH1Jc
I've done literally every past paper there is averaging B's, and this was by far the hardest I've ever done. Was praying Bank Reconciliation wouldn't come up, and it did horribly, couldn't get any solid answers for the trickier parts of each question, especially 1.b) and the Balance Sheet (which I was close to balancing, another 5 minutes and I think I'd have cracked it thinking about it). Only thing I did great was the explanation of key terms.

I really think that grade boundaries will be lowered, and I think I'll be resitting!


i know il be ressiting.
every past paper iv done and got like B's and in one an A and i found that realy hard. Based on the average grade boundaries from past papers i got an E. i think the grade boundaries will be lowered.
Original post by TeH1Jc
I've done literally every past paper there is averaging B's, and this was by far the hardest I've ever done. Was praying Bank Reconciliation wouldn't come up, and it did horribly, couldn't get any solid answers for the trickier parts of each question, especially 1.b) and the Balance Sheet (which I was close to balancing, another 5 minutes and I think I'd have cracked it thinking about it). Only thing I did great was the explanation of key terms.

I really think that grade boundaries will be lowered, and I think I'll be resitting!


I think I'm in exactly the same boat as you haha!
All my past papers have been A's but this was awful. :C
Original post by humaira.k
Nevermind being learnt it i had never seen it before. it was so hard had no idea what it was talking about


the bank rec was hard


Yh same here

I put the bal b/d for prepaid on Dr and for accrued on Cr
I put bank on Dr
and both Bal c/d on credit
I hope i picked up a few marks from that.
Question 1b was crazy :/
I have a feeling I messed the balance sheet.
Awfully upset T&P&L and suspense accounts never came up.
(edited 12 years ago)
Reply 119
Avatar for franzk
franzk
11
That paper was a joke

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