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Revision thread - Accounting (AQA) Unit ACCN3 - 26 January 2012 (pm)

Discussion now open:

Feel free to comment on:
a. prediction of exam topics.
b. areas of the syllabus which is new (e.g. IAS) or you are unfamiliar with.
c. summary of accounting key skills to this module.
d. requesting solutions to any text book or exam past paper.


I will provide Accounting help to you by replying to your comments you post here or if more appropriate with a PM.

Enjoy and let the discussion commence.

A.A.T.


Summary of All Accounting Exams for OCR and AQA: (Both boards on the same day this session)

http://store.aqa.org.uk/admin/t_table_pdf/AQA-TT-GCE-JAN12.PDF

Accounting (AQA board)

ACCN1 10 January 2012 pm 1.5 hours
ACCN2 16 January 2012 am 1.5 hours
ACCN3 26 January 2012 pm 2 hrs
ACCN4 30 January 2012 pm 2 hrs

http://www.ocr.org.uk/download/admin/ocr_55545_admin_gce_jan_2012_exam_timetable.pdf

Accounting (OCR board)

F011 Accounting Principles 1 h Tue 10 Jan. pm
F012 Accounting Applications 2 h Mon 16 Jan. am
F013 Company Accounts and Interpretation 1 h 30 min Thu 26 Jan. pm
F014 Management Accounting 2 h Mon 30 Jan. pm

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Reply 1
ACCN3 - Summary of topics from past papers:

Jan 2012

It looks like A2 AQA Accounting students are really going to have to know the whole specification for unit ACCN3 given that 7 areas were examined in the June 2011 paper. It has been seen in previous papers where the examiner has only focused on 4-5 topics.

Have a look below at my list of the topics from the last paper sittings. One of my observations is that the “Schedule of Non-Current Assets” (first examined at short notice in June 2011) and Statement of Cash flows are always high mark questions (approx 33-34) so it is unlikely these will both come up at the same time.


Speculate to accumulate!
Prediction:
Topic: Stock valuation
Topic: Partnership Accounts
Topic: Statement of Cash flows and mini essay
Topic: International Accounting Standards (IAS)
…and what else?

So why these topics?

Stock valuation as it has been the first question on all papers except the last paper Jun 2011 so time for it again.

Partnership Accounts examined on the last paper Jun 2011 but was only a brief 15 mark questions and has been much more detailed with up to 26 marks in the Jan 2011 paper.

Statement of Cash flows as it was not on the last paper Jun 2011 so this topic again rather than the Schedule of Non-Current Assets. Don’t forget there is typically a mini essay question about the usefulness of the statement of cashflows (published) which could involve associating the answer with various stakeholders.

International Accounting Standards (IAS) state the IAS number and title and then explain the treatment necessary under IAS.

Set up a revision timetable for each topic now if you have not done so and prioritise the topics you don’t understand and the ones you have not been taught.
Reply 2
Original post by A.A.T.
ACCN3 - Summary of topics from past papers:

Speculate to accumulate!
Prediction:
Topic: Stock valuation also with a written question about advantages and disadvantages of FIFO/AVCO
Topic: Partnership Accounts Dissolution as it has never come up so i think it is time
Topic: Statement of Cash flows and mini essay
Topic: International Accounting Standards (IAS)
…and what else?

So why these topics?

Stock valuation as it has been the first question on all papers except the last paper Jun 2011 so time for it again.

Partnership Accounts examined on the last paper Jun 2011 but was only a brief 15 mark questions and has been much more detailed with up to 26 marks in the Jan 2011 paper.

Statement of Cash flows as it was not on the last paper Jun 2011 so this topic again rather than the Schedule of Non-Current Assets. Don’t forget there is typically a mini essay question about the usefulness of the statement of cashflows (published) which could involve associating the answer with various stakeholders.

International Accounting Standards (IAS) state the IAS number and title and then explain the treatment necessary under IAS.

Set up a revision timetable for each topic now if you have not done so and prioritise the topics you don’t understand and the ones you have not been taught.


:smile:
Reply 3
Comments about the exam paper June 2011 can be found here:
http://www.thestudentroom.co.uk/showthread.php?p=35589705
Reply 4
hi does anyone have june 2011 accounting unit 1 question paper and mark scheme??
Reply 5
Original post by A.A.T.
Comments about the exam paper June 2011 can be found here:
http://www.thestudentroom.co.uk/showthread.php?p=35589705


hey have you got unit 1 accounting question paper and mark scheme from june 2011?
Reply 6
Original post by supastyla
hey have you got unit 1 accounting question paper and mark scheme from june 2011?


http://www.thestudentroom.co.uk/showthread.php?t=1870018&page=2
Reply 7
Learn Accounting Podcast #14 - IAS 7 Cashflow Statements Pro-forma / Overview | Prof. Accounting
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(edited 12 years ago)
Reply 8
Learn Accounting Podcast - IAS 7 Statement of Cashflows Exam Technique - Episode #15

Reply 9
hi there, just a quick question. Do you always put the current account in the capital account, or is it only when someone leaves/dissolves the partnership? Reason i ask is i have the aqa book, wolinski i think. On question 3.8, they ask for the current account and capital account. Suprisingly, the capital account in the answers, is a basic capital account with just a balance c/d and balance b/d. No current account figures are in there. What i fail to get is, wouldn't you do the current account first, and then use the balance c/d and balance b/d to put in the capital account? Sorry if i seem a bit lost... cheers.
Reply 10
Original post by Faisal_R
hi there, just a quick question. Do you always put the current account in the capital account, or is it only when someone leaves/dissolves the partnership? Reason i ask is i have the aqa book, wolinski i think. On question 3.8, they ask for the current account and capital account. Suprisingly, the capital account in the answers, is a basic capital account with just a balance c/d and balance b/d. No current account figures are in there. What i fail to get is, wouldn't you do the current account first, and then use the balance c/d and balance b/d to put in the capital account? Sorry if i seem a bit lost... cheers.


Perhaps scan the question and upload it on here. That way I can answer the question in full.
Reply 11
What are the chances of dissolution of partnerships coming up? I only have one question for it and am struggling to revise for it.
Reply 12
Original post by Meynell94
What are the chances of dissolution of partnerships coming up? I only have one question for it and am struggling to revise for it.


Likely.

Here is one video which might be of use.

Reply 13
Thanks, I don't suppose you have a source of a few practice questions do you? Just to get some practice in before the exam.
I am not too sure about Dissolution of partnership as in the specification under note section it states "Questions will not be set on piecemeal dissolution of partnerships" Does that mean it's not going to come up? Any thoughts?
Reply 15
Original post by barcelona_786
I am not too sure about Dissolution of partnership as in the specification under note section it states "Questions will not be set on piecemeal dissolution of partnerships" Does that mean it's not going to come up? Any thoughts?


piecemeal dissolution will not come up.
Reply 16
Learn Accounting Podcast #19 International Accounting Standards IAS Examples | Prof. Accounting

Reply 17
Learn Accounting Podcast #20 - Incomplete Records Mark-up and Margin Prof. Accounting

Reply 18
Learn Accounting Podcast #21 - Incomplete Records - Calculate Sales and purchases | Prof. Accounting

Reply 19
Does anyone think that schedule of fixed assets will come up again, i hate that ****

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