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F292- Que Rico LTD Pre-release

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Can someone please tell me why a restaurant has trade receivables? Is this a joke?

Or do people literally buy dinner on credit in this restaurant?

This balance sheet is so wrong on so many levels.
Original post by dualghost
talk about the problems QRL has with it's quality. Then talk about things they can do to counter this i,e, TQM, methods of production, motivating & training the workforce, and other things which help a firm to improve quality. Then you'd link all these to QRL, and bring in facts and quotes from the case study, aswell as linking all of these to their objectives.

I think...


thank you i did a similar plan ill be sure to add some of your ideas into it good luck with exam if ur taking it tomorrow
Original post by vishal1254
thank you i did a similar plan ill be sure to add some of your ideas into it good luck with exam if ur taking it tomorrow


Thanks you too :smile:
Original post by SotonianOne
Can someone please tell me why a restaurant has trade receivables? Is this a joke?

Or do people literally buy dinner on credit in this restaurant?

This balance sheet is so wrong on so many levels.


Have you ever heard of a tab? It is likely to represent the little customers who do dine at QRL are repeating customers and, therefore, may be easier for them to pay for all their monthly meals at the end of the month.

Also i would say that rather than 'wrong' its miss leading and open to interpretation.
Original post by SotonianOne
Can someone please tell me why a restaurant has trade receivables? Is this a joke?

Or do people literally buy dinner on credit in this restaurant?

This balance sheet is so wrong on so many levels.


you could mention people with business meetings prefer to pay on card or later LOL like the high end rich people i guess:s-smilie: also when it comes to paying on credit card takes some time for the transaction to take place hahaa
orrrrr they accept cheques which taker longer to come through then a credit card

or its just qrl being slow in taking the payments due to focusing on business objectives such as marketing ......depends on how long qrl send the transaction info to the bank in order to access these funds just wild guesses LOL or when they say "put it on the tab" they pay installments
Does anyone have any ideas of what questions are likely to come up in section A ?
Original post by vishal1254
Does anyone have any ideas of what questions are likely to come up in section A ?


they are likely to be questions on, marketing, accounting and finance, organisation and management
right well thats me clocking off for the night. will be looking at the past paper answers for section A quickly in the monring tommorow before the exam. good luck peeps and i hope to see you back on the thread for discussion post exam :smile:
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Original post by SotonianOne
Can someone please tell me why a restaurant has trade receivables? Is this a joke?

Or do people literally buy dinner on credit in this restaurant?

This balance sheet is so wrong on so many levels.


ever heard of a tab?

some businesses may choose to use QRL as their "meeting" spot, so they may get benefits such as a tab

how else is the balance sheet wrong?

I do A-Level accountancy and I see no other issues.
How did everyone find it?
I thought it was ok, I only struggled with the last question on Total quality management as I wasn't sure what they were asking for! But I thought the rest of section B was fine. The only question I wasn't sure of straight away on Section A was the one on wholesalers, I could only think of breaking bulk
I wasn't a fan of the calculation of labour turnover question, everyone seemed to get different answers and I got 58%? Oh well.

Question 3 on the marketing activities threw me a bit, I wrote about market research, physical evidence and price in regards to de-badging and promotion overall? My teacher said that was alright though.

I just applied TQM to the end of each paragraph about the quality issues QRL have for the last question and how it could be applied and used, and then I did a paragraph on limitations of TQM as I wasn't sure if we had to to include that or not.

Quite happy with how it went though - could have been a lot worse!
Yeah It was a nice paper especially section A with the contribution question and the profit. What did people get for the calculations
Original post by zaini101
How did everyone find it?


All very easy apart from the TQM question, for which I struggled to come up with points.
Original post by ohmyapplepie
I wasn't a fan of the calculation of labour turnover question, everyone seemed to get different answers and I got 58%? Oh well.

Question 3 on the marketing activities threw me a bit, I wrote about market research, physical evidence and price in regards to de-badging and promotion overall? My teacher said that was alright though.

I just applied TQM to the end of each paragraph about the quality issues QRL have for the last question and how it could be applied and used, and then I did a paragraph on limitations of TQM as I wasn't sure if we had to to include that or not.

Quite happy with how it went though - could have been a lot worse!


For Q3 I just did one paragraph for each objective.
That was terrible.

Completely blanked on number 4 about corporate objects > marketing activities, don't know why and I didn't know where to start. Rushed it completely at the end.

Somehow forgot formula for contribution and every single person I spoke to had a different answer for the Labour turnover. (I had 60% - 330/550). I hope the grading boundaries are substantially lower.
Was the labour turnover question looking for an answer expressed as a percentage or a numerical value? I didn't do to well in this question
Original post by Chappers18
Was the labour turnover question looking for an answer expressed as a percentage or a numerical value? I didn't do to well in this question


I did a percentage and got something like 10.7%.
I used the formula: (Percentage of staff leaving/ average staff employed) x 100.
For the labour turnover question loads of people have different answers lol. I thought it wanted us to work out the number of people from London and the south who left which was given as 21% so my calculations said it was 116 people. Afraid I misread the question and totally ****ed up now
Original post by neal95
For the labour turnover question loads of people have different answers lol. I thought it wanted us to work out the number of people from London and the south who left which was given as 21% so my calculations said it was 116 people. Afraid I misread the question and totally ****ed up now


It's 4 marks... Not a big deal!

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