AQA Accounting

I'm assuming you know that you subtract currents liabilities from current assets to get net current assets/working capital?

I'm guessing they've just put trade payables 36 in brackets to reiterate that fact since they've also put bank overdraft in brackets.

Hope that helps :smile:

Reply 2

Alevel4

OP

So its put in brackets just to show you have to minus it ?
I guess that makes sense cause I was doing another past paper and found out on the mark scheme that the bank overdraft was without brackets.
Are you doing a-level accounting unit 1 & 2 ?
Are you ready for them if you are doing those units.
Thanks

Reply 3

Original post by Alevel4

So its put in brackets just to show you have to minus it ?
I guess that makes sense cause I was doing another past paper and found out on the mark scheme that the bank overdraft was without brackets.
Are you doing a-level accounting unit 1 & 2 ?
Are you ready for them if you are doing those units.
Thanks

Yep, pretty much ready. How about you?

Reply 4

Alevel4

OP

Yeah Hopefully.
Are you retaking them or is this your first go.

Reply 5

Any suggestions what may come up?

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Reply 6

Original post by ALEVEL_STUDENT

Any suggestions what may come up?

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I think the income statement and balance sheet is most likely to come up, and make sure you revise the definitions and theoretical answers e.g types of shareholders, why accounting records are kept etc

Reply 7

Original post by Rosex12

I think the income statement and balance sheet is most likely to come up, and make sure you revise the definitions and theoretical answers e.g types of shareholders, why accounting records are kept etc

Do we HAVE to learn the definitions? Cause they changed the spec last year June and doesn't specify to learn any definitions? Or have I missed that part out?

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Reply 8

Original post by ALEVEL_STUDENT

Do we HAVE to learn the definitions? Cause they changed the spec last year June and doesn't specify to learn any definitions? Or have I missed that part out?

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Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?

Reply 9

Does anyone know what might come up?

Reply 10

Original post by Rosex12

Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?

Pretty sure you don't need to know the ledger control a/c or suspense a/c for ACCN 2, for ACCN 1? Certainly

Reply 11

Original post by Blyts-_

Pretty sure you don't need to know the ledger control a/c or suspense a/c for ACCN 2, for ACCN 1? Certainly

You don't need to know control accounts for ACCN2, but definitely for ACCN1 as it's on the specification ( http://filestore.aqa.org.uk/subjects/specifications/alevel/AQA-2120-W-SP-14.PDF ) I had a quick look. I don't know if I need to learn definitions or not.

Reply 12

Do we need to know definitions for ACCN1?

Reply 13

KuroKage

Original post by Rosex12

Do we need to know definitions for ACCN1?

Yeah the basic ones like trade receivables, accruals, non current assets

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Reply 14

KuroKage

Does anyone have any notes on errors, I've lost mine

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Reply 15

Original post by Rosex12

Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?

I'm screwed for this exam

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Reply 16

Anyone got any predictions on ACCN1/2

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Reply 17

Original post by ALEVEL_STUDENT

Anyone got any predictions on ACCN1/2

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I don't see how you could predict? The only things which I guess would be certain are income statement and balance and ratios

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Reply 18