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    This thread is for everyone doing Unit 2 AQA Accounting on the 20th. Hopefully we can share tips on how to pass the exam or talk about what we are doing as preparation for the exam.

    I’m currently having problems with calculating ROCE (the formula is confusing) and drawing up the final accounts. Does anyone know if we need to be able to draw up & balance the income/expenses/fixed assets/bank/provision for depreciation/disposals/accounts?
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    yes you should be able to balance those accounts.
    The ROCE formula is
    net profit/capital employed. It is quite easy. If you need any help pm me. Also are you doing unit 1 tomorrow?
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    (Original post by lifeadd1ct)
    yes you should be able to balance those accounts.
    The ROCE formula is
    net profit/capital employed. It is quite easy. If you need any help pm me. Also are you doing unit 1 tomorrow?
    Do we need to know how to do the ledger accounts for anything else except for:

    Provision for depreciation
    Bad debts recovered
    Accruals & prepayments of income
    Revaluation of Fixed assets
    Disposal of fixed assets

    For example do we need to know unit 1 stuff like - accruals & prepayments of expenses, & bad debts etc. If so please state them.
    Thanks.
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    Well it really depends on the day of the exam. I'm quite positive that you won't be required to prepare accounts for accruals and prepayments of expenses but you should be able to do them anyway. The difference between income and expenses in terms of account is that the expenses go on the debit side of the t account and income go on the credit. They are also pretty much opposite in terms of final accounts for example a prepayment of income is deducted from income and is shown as a current liability in the balance sheet where as prepayment of expenses is the opposite.
    Did you do unit 1 today?
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    No thankfully i go an ok grade after retaking it in June. How did it go?
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    (Original post by my_anon)
    No thankfully i go an ok grade after retaking it in June. How did it go?
    The exam was quite difficult however I think i got over 85%. Well there were 3 big questions (bank reconciliation statement,p and l and bal sheet) and managed to do them all correctly which gives me a total of 50 marks and the paper was out of 80 so i reckon I did quite well.
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    Wow, by the sounds of it you got an A! By the way, are you doing the exam on the 20th?
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    I'm doing it, I got 87/100 last june and hoping to squeeze at least 5 more marks out of this module.
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    Have you guys got the June 2009 Question Paper and its Mark Scheme? If you do can you please pm me. Thanx
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    (Original post by Fizzy2008)
    Have you guys got the June 2009 Question Paper and its Mark Scheme? If you do can you please pm me. Thanx
    I've got it but not a blank question paper, I'll scan it then PM you in a sec.

    edit: nvm scanner decided it doesnt want to work :\ sorry
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    (Original post by matt2k8)
    I've got it but not a blank question paper, I'll scan it then PM you in a sec.

    edit: nvm scanner decided it doesnt want to work :\ sorry
    Hey could you help me out with the final accounts of limited companies?
    In terms of the profit & loss approptriation account, im ok with everything up unit profit after tax but i have no ideas what to do if there is a bonus/rights issue or if the directors proposed a final dividend but the rest of it (tranfer to general reserves) is fine.

    With the balance sheet i get stuck on the capital and reserves section such as what to do if there have been an issue of new shares for a higher or lower price or final dividends.

    To be more specific i had a problem with getting final dividends on Q2a Jan07/ACC3 to equal to £100,000. I understand how to do it but i dont get the background behind it. Also with Jun06/ACC3 i dont understand how to work out the capital reserves part of the balance sheet.

    Thanks in advance!
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    Good luck to everyone doing the exam tomorrow. We can discuss the answers after the exam if anyone is interested.
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    (Original post by my_anon)
    Hey could you help me out with the final accounts of limited companies?
    In terms of the profit & loss approptriation account, im ok with everything up unit profit after tax but i have no ideas what to do if there is a bonus/rights issue or if the directors proposed a final dividend but the rest of it (tranfer to general reserves) is fine.

    With the balance sheet i get stuck on the capital and reserves section such as what to do if there have been an issue of new shares for a higher or lower price or final dividends.

    To be more specific i had a problem with getting final dividends on Q2a Jan07/ACC3 to equal to £100,000. I understand how to do it but i dont get the background behind it. Also with Jun06/ACC3 i dont understand how to work out the capital reserves part of the balance sheet.

    Thanks in advance!
    Good news for you the appropiation account has been removed from the exam!
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    (Original post by JohnT92)
    Good news for you the appropiation account has been removed from the exam!

    I'm no retaking it in january but will be doing it again in the summer and so you sure it has been removed.... bit strange seeing as though i swear they had it in last summers exam. probably found it was too hard.
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    (Original post by mr*writer)
    I'm no retaking it in january but will be doing it again in the summer and so you sure it has been removed.... bit strange seeing as though i swear they had it in last summers exam. probably found it was too hard.
    The appropriation has not been removed from the exam but it's really easy to do. Just use the phrase
    Come
    In
    From
    The
    Rain

    Corporation tax,interim,final,transfers,gen reserves

    Good luck
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    800 profit for 1a total depreciation was 23000
    146860 for the retained profit and 315800 for the capital and reserves section

    Did any1 get the same answers as me? And also I found a mistake in the paper lol
    It was for the cash budget question. The examiners didn't add the final column up properly

    Then 1.37:1 for current asset ratio and .85:1 for the acid test
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    Finished way too quickly, spent 40 mins or so staring at the wall :\. Written bits could've been better. Paper was roughly the same difficulty as June 2009.

    (Original post by lifeadd1ct)
    800 profit for 1a total depreciation was 23000
    146860 for the retained profit and 315800 for the capital and reserves section

    Did any1 get the same answers as me? And also I found a mistake in the paper lol
    It was for the cash budget question. The examiners didn't add the final column up properly

    Then 1.37:1 for current asset ratio and .85:1 for the acid test
    800 profit - same
    you had to find the depreciation for the p + l account, which was 3000, not the one for the balance sheet - but you won't get docked marks for finding that as well
    I got the same for retained profit/cap and reserves I THINK.
    I got the same for the ratios.
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    I think i messed up the depreciation question badly

    The figure for the profit and loss is 5000 not 3000. Just worked it out

    You had 18000+14000-9000=23000
    Then depreciation 13000-5000=8000
    23-8=15
    15/3=5000
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    (Original post by lifeadd1ct)
    800 profit for 1a total depreciation was 23000
    146860 for the retained profit and 315800 for the capital and reserves section

    Did any1 get the same answers as me? And also I found a mistake in the paper lol
    It was for the cash budget question. The examiners didn't add the final column up properly

    Then 1.37:1 for current asset ratio and .85:1 for the acid test
    I got the same Retained profit and capital and reserves.
    I got 1.37:1 for current assets but my acid test was lower than that.
    for 1a) 800
    1b) I cant remember.
    There was so many written questions on this exam
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    (Original post by lifeadd1ct)
    The appropriation has not been removed from the exam but it's really easy to do. Just use the phrase
    Come
    In
    From
    The
    Rain

    Corporation tax,interim,final,transfers,gen reserves

    Good luck
    If your doing it in June I think you do a statement of equity instead of this
 
 
 
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