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    Hi,

    Im retaking aqa accounting unit 1 and 2 and been doing past papers.
    I have been struggling on this question i just wanted to know if anyone could help me out.

    It is jan 2010 Q4 correcting the balance sheet.
    I dont understand why they all of sudden put the creditors value in brackets in the mark scheme.

    I thought figures in brackets represent negative value. Hence i understand why the bank overdraft is in brackets but not the trade creditors.

    If anyone could explain this to me it would be great and extremely helpful

    Much appreciated.
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    I'm assuming you know that you subtract currents liabilities from current assets to get net current assets/working capital?

    I'm guessing they've just put trade payables 36 in brackets to reiterate that fact since they've also put bank overdraft in brackets.

    Hope that helps
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    So its put in brackets just to show you have to minus it ?
    I guess that makes sense cause I was doing another past paper and found out on the mark scheme that the bank overdraft was without brackets.
    Are you doing a-level accounting unit 1 & 2 ?
    Are you ready for them if you are doing those units.
    Thanks
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    (Original post by Alevel4)
    So its put in brackets just to show you have to minus it ?
    I guess that makes sense cause I was doing another past paper and found out on the mark scheme that the bank overdraft was without brackets.
    Are you doing a-level accounting unit 1 & 2 ?
    Are you ready for them if you are doing those units.
    Thanks
    Yep, pretty much ready. How about you?
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    Yeah Hopefully.
    Are you retaking them or is this your first go.
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    Any suggestions what may come up?


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    (Original post by ALEVEL_STUDENT)
    Any suggestions what may come up?


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    I think the income statement and balance sheet is most likely to come up, and make sure you revise the definitions and theoretical answers e.g types of shareholders, why accounting records are kept etc
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    (Original post by Rosex12)
    I think the income statement and balance sheet is most likely to come up, and make sure you revise the definitions and theoretical answers e.g types of shareholders, why accounting records are kept etc
    Do we HAVE to learn the definitions? Cause they changed the spec last year June and doesn't specify to learn any definitions? Or have I missed that part out?


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    (Original post by ALEVEL_STUDENT)
    Do we HAVE to learn the definitions? Cause they changed the spec last year June and doesn't specify to learn any definitions? Or have I missed that part out?


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    Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?
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    Does anyone know what might come up?
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    (Original post by Rosex12)
    Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?
    Pretty sure you don't need to know the ledger control a/c or suspense a/c for ACCN 2, for ACCN 1? Certainly
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    (Original post by Blyts-_)
    Pretty sure you don't need to know the ledger control a/c or suspense a/c for ACCN 2, for ACCN 1? Certainly
    You don't need to know control accounts for ACCN2, but definitely for ACCN1 as it's on the specification ( http://filestore.aqa.org.uk/subjects...20-W-SP-14.PDF ) I had a quick look. I don't know if I need to learn definitions or not.
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    Do we need to know definitions for ACCN1?
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    (Original post by Rosex12)
    Do we need to know definitions for ACCN1?
    Yeah the basic ones like trade receivables, accruals, non current assets


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    Does anyone have any notes on errors, I've lost mine


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    (Original post by Rosex12)
    Well I think you should go over it briefly if it does come up you can get a couple of marks. My teacher said to make sure your level of communication is good as it can give you 7 marks which can make a difference between a grade. Going through past papers is what I recommend the most. How are you feeling about the exam. Do you know if we need to know sales/purchase ledger control accounts of suspense accounts?
    I'm screwed for this exam


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    Anyone got any predictions on ACCN1/2


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    (Original post by ALEVEL_STUDENT)
    Anyone got any predictions on ACCN1/2


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    I don't see how you could predict? The only things which I guess would be certain are income statement and balance and ratios


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    (Original post by ALEVEL_STUDENT)
    I'm screwed for this exam


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    Same, I did two papers and I keep on getting Cs. The grade boundaries are soo close together so each mark is soo crucial. Hopefully the paper is not too hard.
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    (Original post by KuroKage)
    Yeah the basic ones like trade receivables, accruals, non current assets


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    I think we need to know what direct debit, standing order is and stuff like that
 
 
 
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