[A.A.T.]

Revision discussion thread - Accounting (AQA) Unit ACCN4 - 30 January 2012

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.



June 2011 ACCN4 paper topics are as follows:

- Calculate inventory net of factory profit.
- IAS 2 - Inventories
- Overhead absorption rate
- Calculate selling price
- Limitations of absorption costing
- Expected contribution and expected profit statement
- Variance analysis (direct materials and direct labour)
- Variance analysis (sales price and sales volume sub-variances)
- Statement reconciling actual profi t with budgeted profit
- Effectiveness of using variance analysis to evaluate the performance of
a business
- Production budget
- Costing decision: Make or Buy - Financial implicaitons.
- Investment appraisal - calculate net present value
- Decision making - element of social accounting

POST EXAM

Exam Paper is here

[nakz_]

anyone got this exam tomorrow? .. lonely thread X_X

[EhsanA]

I have it too

[sukhys]

is this unit easier than unit 3

[sukhys]

aat have u got the paper i want to have a look at it. btw is unit 4 easier than unit 3

[A.A.T.]

(Original post by sukhys)
aat have u got the paper i want to have a look at it. btw is unit 4 easier than unit 3

Everything is relative. Some topics of unit 3 are rather straightforward such as Stock Valuation, Sources of Finance and in unit 4 break-even analysis, marginal costing, break-even and contribution, decision making for Make or Buy, Special Orders, profit maximisation using an optimum production plan etc are also straightforward. Depends really how well you learn the accounting approach and key topic concept.

ACCN4 attached.

[sukhys]

(Original post by A.A.T.)
Everything is relative. Some topics of unit 3 are rather straightforward such as Stock Valuation, Sources of Finance and in unit 4 break-even analysis, marginal costing, break-even and contribution, decision making for Make or Buy, Special Orders, profit maximisation using an optimum production plan etc are also straightforward. Depends really how well you learn the accounting approach and key topic concept.

ACCN4 attached.

thanks for uploading the paper, my teacher says unit 4 is easier so i will see at the moment capital investment appraisal is ok and so is manufacturing accounts nothing difficult there. aat can you provide answers to the unit 3 paper please.

[A.A.T.]

Answers to ACCN3 have been posted by someone. I think the only one not posted was Partnership Accounting. Also I think a detailed answer on Sources of Finance was requested.

As far as Manufacturing accounts goes, try and practice some questions from OCR to get an understanding of the full layout for AQA. AQA questions tend to be less detail essentially testing A2 material rather than the AS as well. Transfer profit and provision for unrealised profit are popular topics for AQA.

[sukhys]

(Original post by A.A.T.)
Answers to ACCN3 have been posted by someone. I think the only one not posted was Partnership Accounting. Also I think a detailed answer on Sources of Finance was requested.

As far as Manufacturing accounts goes, try and practice some questions from OCR to get an understanding of the full layout for AQA. AQA questions tend to be less detail essentially testing A2 material rather than the AS as well. Transfer profit and provision for unrealised profit are popular topics for AQA.

ok are the answers correct that i and mosinbad have posted? can you please send me the link for the ocr papers containing manufacturing accounts thanks

[A.A.T.]

(Original post by sukhys)
ok are the answers correct that i and mosinbad have posted? can you please send me the link for the ocr papers containing manufacturing accounts thanks

Have a look at this question in Excel format. Trial balance question given in first tab, template with structure in tab 2 and answer in tab 3. Students would not get answer resist the hesitation and only look if all else fails. Let me know how you find it.

[A.A.T.]

(Original post by sukhys)
ok are the answers correct that i and mosinbad have posted? can you please send me the link for the ocr papers containing manufacturing accounts thanks

Answers look very good. For the stock valuation narrative question you could talk about IAS 2 or 8 and either are fine.
The question was "Explain the guidance provided by a relevant International Accounting Standard (IAS) to help the directors of Alisid Ltd who are considering whether to change the method of valuing stock from AVCO to FIFO." See bold, indicates only 1 IAS is necessary. No extra marks for giving two. More to say about the change itself i.e. use IAS 8 rather than which method is permitted (IAS 2).

For IAS2 - The historical cost of inventory is usually measured via either of two methods; First in, first out (FIFO) or Weighted average cost (AVCO). A third method of measuring cost is LIFO, Last in, first out, however this is not permitted by international accounting standard IAS2 for the purpose of financial statements.

[nakz_]

I personally find this unit much easier than unit 3 .. im retaking A2 and got 77 in this the 1st time round, hoping to get 85+ in the one i just did in january.

[sukhys]

(Original post by nakz_)
I personally find this unit much easier than unit 3 .. im retaking A2 and got 77 in this the 1st time round, hoping to get 85+ in the one i just did in january.

yh unit 4 seems ok. whats the hardest topic on unit 4?

[nakz_]

budgeting theres alot to remember, overheads and apportionment is a bit dodgy sometimes, but other than that its all pretty much straight forward.

[sukhys]

(Original post by nakz_)
budgeting theres alot to remember, overheads and apportionment is a bit dodgy sometimes, but other than that its all pretty much straight forward.

seriously budgets are the hardest! i thought it would of been something lyk costing as there is loads ABC, standard costing etc

[Mosinbad]

(Original post by A.A.T.)
Answers to ACCN3 have been posted by someone. I think the only one not posted was Partnership Accounting. Also I think a detailed answer on Sources of Finance was requested.

As far as Manufacturing accounts goes, try and practice some questions from OCR to get an understanding of the full layout for AQA. AQA questions tend to be less detail essentially testing A2 material rather than the AS as well. Transfer profit and provision for unrealised profit are popular topics for AQA.

that was me i cldnt post the partnership question bz i did in a table but i can send it u on email if u wish?

[Mosinbad]

(Original post by A.A.T.)
Answers look very good. For the stock valuation narrative question you could talk about IAS 2 or 8 and either are fine.
The question was "Explain the guidance provided by a relevant International Accounting Standard (IAS) to help the directors of Alisid Ltd who are considering whether to change the method of valuing stock from AVCO to FIFO." See bold, indicates only 1 IAS is necessary. No extra marks for giving two. More to say about the change itself i.e. use IAS 8 rather than which method is permitted (IAS 2).

For IAS2 - The historical cost of inventory is usually measured via either of two methods; First in, first out (FIFO) or Weighted average cost (AVCO). A third method of measuring cost is LIFO, Last in, first out, however this is not permitted by international accounting standard IAS2 for the purpose of financial statements.

if that is the case will i get marked on my best answer or the first one?

[A.A.T.]

(Original post by Mosinbad)
if that is the case will i get marked on my best answer or the first one?

Yes but depends on the length of the total answer. In some mini essay questions there is a time limit in how long an examiner is allowed to spend marking each question. In this "short" question it should not be a problem.

[Mosinbad]

(Original post by A.A.T.)
Yes but depends on the length of the total answer. In some mini essay questions there is a time limit in how long an examiner is allowed to spend marking each question. In this "short" question it should not be a problem.

thats good i only wrote like 5-6 lines so it should be fine, what do u think the grade boundaries will be on average?

[sukhys]

has anyone got unit 4 june 2011 mark scheme ?