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AQA Accounting Unit 2 - 22nd May watch

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    Hows everyone feeling?

    Im starting my revision today
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    Same, ACCN 2 sucks, I'm struggling with everything :P how about you?
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    (Original post by Blyts-_)
    Same, ACCN 2 sucks, I'm struggling with everything :P how about you?
    yeah i think alot of revision is needed for me. i got all the past papers so i'll start them later. i just cant be asked..:eek:

    What did you get in Unit 1
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    I found ACC2 much easier than ACC1 for some reason.
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    some great notes here! good luck
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    (Original post by chigyy)
    I found ACC2 much easier than ACC1 for some reason.
    Are you resitting?


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    (Original post by asadsiddiq)
    some great notes here! good luck
    It wont let me view that doc mate


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    (Original post by Brandon_RNS)
    Are you resitting?


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    No first time, but I meant I find it easier for some reason.
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    Hello,

    Has anyone done AQA Jan 10 paper, question 3A?
    I need to help on how they got 750 & (75) in the mark scheme for Fixtures and fittings for the column 'effect on profit'

    Thank you
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    (Original post by Vampstar)
    Hello,

    Has anyone done AQA Jan 10 paper, question 3A?
    I need to help on how they got 750 & (75) in the mark scheme for Fixtures and fittings for the column 'effect on profit'

    Thank you
    Yeah umm, basically the fixtures cost 27500 plus the 750 for delivery because the delivery cost is part of the capital expenditure. Therefore the 750 must be taken out of carriage in which will increase profit by 750.

    And then remember the cost of the asset should be 28250 but only 27500 has been depreciated at 10 percent. So 10 percent of 28250 = 2825, which should have been entered into the expenses. But only (10 percent of 27500) 2750 has been entered therefore you must enter the difference of these two as an expense. Which is 75.

    This means the overall effect on profit is an increase of 750 and then a decrease of 75, if you look below the mark scheme it will say accept 675.

    Hope this helped


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    (Original post by Brandon_RNS)
    Yeah umm, basically the fixtures cost 27500 plus the 750 for delivery because the delivery cost is part of the capital expenditure. Therefore the 750 must be taken out of carriage in which will increase profit by 750.

    And then remember the cost of the asset should be 28250 but only 27500 has been depreciated at 10 percent. So 10 percent of 28250 = 2825, which should have been entered into the expenses. But only (10 percent of 27500) 2750 has been entered therefore you must enter the difference of these two as an expense. Which is 75.

    This means the overall effect on profit is an increase of 750 and then a decrease of 75, if you look below the mark scheme it will say accept 675.

    Hope this helped


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    Yes it has. Thanks very much!
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    (Original post by Vampstar)
    Yes it has. Thanks very much!
    No worries


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    This unit is stressing me out. Too much theory and i hardly get how dividends and share premium and ordinary shares work out :/ i find this is so hard
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    (Original post by sunny_bunny)
    This unit is stressing me out. Too much theory and i hardly get how dividends and share premium and ordinary shares work out :/ i find this is so hard
    Dont worry we will all get through it, read over the chapter and answer a couple questions if that area of the syllabus is still giving you trouble throw an exam question into the feed i'll see if i can be of any help


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    Anyone got any ideas of which questions might come up? I've noticed there is always a balance sheet or income statement in the past papers and usually about 2-3 essay questions at 6-8 marks each (i have seen a 16 mark essay question before too).
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    Hopefully a big income statement question comes up, along with a cash budget because they will take up the majority of the marks and are fairly easy
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    (Original post by Brandon_RNS)
    Dont worry we will all get through it, read over the chapter and answer a couple questions if that area of the syllabus is still giving you trouble throw an exam question into the feed i'll see if i can be of any help


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    Thanks
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    (Original post by Tom Richardson)
    Hopefully a big income statement question comes up, along with a cash budget because they will take up the majority of the marks and are fairly easy
    I really hope a cash book comes
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    I'm predicting a Limited company Statement of Financial Position, don't think it's ever been featured in an exam paper, if not Limited Company Income statement and a question on gearing and what it means.

    I doubt a cash budget will come up until the next academic year as it was featured in June 2012. Also, we might see a provision for depreciation account.

    Differentiating between Bonus and Rights issues as 10 mark theory and possibly Limited company/sole trader evaluation.
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    I hope Computing in Accounts comes up for a writing question and a couple ratios, that will do just fine. The rest being Cash Budget and income statement along with a balance sheet. I really hope an Limited company statements don't come up, I find making the bal sheet hard.
 
 
 
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