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    What did everyone get for question 3)b) , the benefits and limitations of budgetary control systems?
    My Benefits: Assists planning, decision making, may motivate and budgetary figures can be compared with real figures.
    Limitations: Leads to disfunctional management, may be set too low, benefits must exceed costs, may demotivate and also wrong figure making it inaccurate.

    Does this sound okay? I'm really nervous
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    (Original post by RK94)
    Thats what I did too! what did you do for rent receivable?
    i added the other amount too it but i dont know if thats right or not
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    (Original post by George_m20)
    What did everyone get for question 3)b) , the benefits and limitations of budgetary control systems?
    My Benefits: Assists planning, decision making, may motivate and budgetary figures can be compared with real figures.
    Limitations: Leads to disfunctional management, may be set too low, benefits must exceed costs, may demotivate and also wrong figure making it inaccurate.

    Does this sound okay? I'm really nervous
    Pretty much what I put, then finished with a conclusion and advised the most appropriate way, depending on the ability of the business being able to afford this initial cost and continuous profit reduction


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    (Original post by tom_elsey)
    Pretty much what I put, then finished with a conclusion and advised the most appropriate way, depending on the ability of the business being able to afford this initial cost and continuous profit reduction


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    Yeah my only worry was that people talked about the benefits/limitations of computer systems, e.g they put computers make the figures more accurate and they are quicker, but the limitations are the installation costs etc
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    I did revenue - 8400
    Cost of sales + 4100
    Rent received = 12000
    Added increase in trade receivables of 720 to expenses
    Director's thing - 38000
    Less 6% debenture 72000
    Less tax 38000
    But made a stupid mistake and put loss on sale as a profit of 3000. And I put the debenture interest after net profit, how many marks do you think I'll lose? My overall end profit was £133540?
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    (Original post by George_m20)
    Yeah my only worry was that people talked about the benefits/limitations of computer systems, e.g they put computers make the figures more accurate and they are quicker, but the limitations are the installation costs etc
    No, the question didn't ask about it vein relates to computer systems, so their answers will be wrong, hope that helps!


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    (Original post by Brandon_RNS)
    Ahh i dont remember but tax was 38000 right?


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    Yeh tax was 38,000 then once you've got net profit you do an appropriation account by just taking away debenture interest and tax I believe?
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    (Original post by frannyw)
    I did revenue - 8400
    Cost of sales + 4100
    Rent received = 12000
    Added increase in trade receivables of 720 to expenses
    Director's thing - 38000
    Less 6% debenture 72000
    Less tax 38000
    But made a stupid mistake and put loss on sale as a profit of 3000. And I put the debenture interest after net profit, how many marks do you think I'll lose? My overall end profit was £133540?
    Maybe two for that error, providing your working was correct? I predicted profitability ratios too!


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    (Original post by tom_elsey)
    It definitely is £72000, checked with my teacher and a debenture is a yearly cost, which cannot be split between months


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    well, there are many troubles in this paper . :confused:
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    (Original post by Economist21)
    Yeh tax was 38,000 then once you've got net profit you do an appropriation account by just taking away debenture interest and tax I believe?
    You mean once you got net profit from operations? Yes then you take debenture interest and you get net profit before tax then you take the tax off and get net profit after tax


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    (Original post by tom_elsey)
    Maybe two for that error, providing your working was correct? I predicted profitability ratios too!


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    Well I took away depreciation from the original cost and took away the selling price, but just put it as profit and added it to the gross profit? :/
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    (Original post by frannyw)
    I did revenue - 8400
    Cost of sales + 4100
    Rent received = 12000
    Added increase in trade receivables of 720 to expenses
    Director's thing - 38000
    Less 6% debenture 72000
    Less tax 38000
    But made a stupid mistake and put loss on sale as a profit of 3000. And I put the debenture interest after net profit, how many marks do you think I'll lose? My overall end profit was £133540?
    Do we need to deduct the amount of provision for doubful debts last year 5400
    So annoyed , the debenture .
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    (Original post by anna21)
    Do we need to deduct the amount of provision for doubful debts last year 5400
    So annoyed , the debenture .
    I don't know, I thought it said in the question that it was included?
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    Boundaries 63-66 for an A
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    (Original post by frannyw)
    I don't know, I thought it said in the question that it was included?
    You needed to take it out, it stated separately to calculate the new years one which was an increase of. 720 from last year


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    Hi, can any of you guys answer this question? I would really appreciate it! I have to do an accounting module for my first year of uni and the exam is in just over a week and I'm still totally confused lol!

    Best Answer plc. was formed on 1st January 2001 with a share capital of 1 million shares of £1 per share. In the next 8 years, it retained profits of £2.5 million. On 1st January 2009 it issued another 2 million shares for which it received £8 million. In 2009, it made a profit of £1.2 million and paid a dividend of £0.7 million. The nominal value of its share capital at 31st December 2009 would be?
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    (Original post by frannyw)
    I don't know, I thought it said in the question that it was included?
    that was the last financial years amount
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    (Original post by slacker07906)
    Hi, can any of you guys answer this question? I would really appreciate it! I have to do an accounting module for my first year of uni and the exam is in just over a week and I'm still totally confused lol!

    Best Answer plc. was formed on 1st January 2001 with a share capital of 1 million shares of £1 per share. In the next 8 years, it retained profits of £2.5 million. On 1st January 2009 it issued another 2 million shares for which it received £8 million. In 2009, it made a profit of £1.2 million and paid a dividend of £0.7 million. The nominal value of its share capital at 31st December 2009 would be?
    £3million no?


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    (Original post by Brandon_RNS)
    £3million no?


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    So do you just add up the issued shares?
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    (Original post by slacker07906)
    So do you just add up the issued shares?
    Yeah thats what i did but i dont know if that is the right answer

    For such a long question a simple addition couldnt have been the answer
    But yeah i did the 2mill x £1 plus 1mi x£1


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