2010 Higher Accounting POST EXAM THREAD

How did everyone find it then?
Lets all discuss answers and what questions we did.

I answered
Q1) Partnerships
Q2) Manufacturing PLC accs
Q5) Theory on Club accs

Q6) BEPs Department cost/ limiting factors
Q8) Service costs then Abnormal loss
Q9) Theory on budgets

So glad it wasn't club accs compulsary, theory was OK considering I only looked over the actual accounts layouts.

Sad a cash budget did not appear, but thought overall it was pretty strait forward.

Another Higher canditate left as I was finishing my Balance sheet in Q1, maybe 40 mins into it :O
And the other candidate left just after an hour, I left with 10 mins to go, just me in the hall, obv the invigilator too, but.

How was your 2010 Higher Accounts exam?

Reply 1

Ecosse_14

Awww partnerships, lucky lucky :biggrin:

What was the compulsory question for management a/c's all about? BEPs Dept cost/limiting factor? :s-smilie:

Ahh wait, the decision making thing?

Reply 2

GoldenArab

Ape Gone Insane

Man, those were the sexiest questions to have ever been featured in an Accounts exam. I was like :coma:

after seeing Q1 and 2. I'm certain I've got an A but there were some tricky (especially the depreciation in the BS - you had to take into account 3 separate depreciations). It took me 10 mins to realise that there were 2 seperate depreciations in the Manufacturing account - one Direct and the other Indirect. :shifty:

Balance sheet didn't balance. Was off by £14 and had some trouble remembering what went into Current Liabilities in a Partnership. All the past papers had focussed on PLCs

Questions overall were fantastic!

What was your balance in Q1?

I was out by less than 1500 :P for balance sheet, at the start I'm flicking through thinking oh yes, I'll actually do OK! I missed a couple of things out from the P&L acc but decided just to leave it, it would have wasted to much time fixing it for like 3 marks.

Questions were good though :smile:

Reply 3

stefany-a

I got 237 for the first half of my balance sheet, I was out by just a few marks. Did everyone got a manufacturing profit ?
I thought the theory question were lovely and question 8 was a dream. Gutted that clubs and plc did a no show :frown:

what did everyone did for question 6 - contribution per unit ?

Reply 4

stefany-a

Ape Gone Insane

Manufacturing loss of 10,000. Take it off the Gross profit in the Trading account and you're done.

I got a profit of 13 :frown:

- I should have known sinces its always a loss
did you do question 8 ? did you get the CPU to be £ 11.00 for part B ?
and how did you work out the fixed cost per unit ?
for dept X I got the fixed cost to be 12000, Dept Y - 15000 and Dept Z - 18000
sorry about asking soo many questions, my teacher was at an SQA meeting so I have no idea what the right answers are

Reply 5

GoldenArab

stefany-a

I got a profit of 13 :frown:

I though trading account just went to Gross Profit, 29000 profit :O
Shouldnt matter, I had the layout right and I'd rather do management anyway so...

Reply 6

GoldenArab

Ape Gone Insane

I recognise those figures, so yes.

As for the Total cost per unit, you had to combine the fixed cost per unit with the variable cost.

emm, was the fixed cost £3 per unit?

Reply 7

stefany-a

GoldenArab

emm, was the fixed cost £3 per unit?

that's what I got too, I just meant the fixed cost for the total units in that department

Reply 8

Lauren48x

found question six difficult, but looking at what people have said i think i may have done okay, manufacturing profit or 20,000 however :/ and i balanced on 236 on question1