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AQA Accounting

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i cant get my head around suspense accounts? I think if this comes up ill lose a grade
Original post by Rosex12
I think we need to know what direct debit, standing order is and stuff like that


I don't think we need to learn any definitions tbh (ONLY MY THOUGHT) as it's not mentioned in the spec


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suspense accounts will come up, i just know it! it hasn't been on the papers for the last 2 years so i reckon it'll pop up!
Original post by Richard_pullan
suspense accounts will come up, i just know it! it hasn't been on the papers for the last 2 years so i reckon it'll pop up!


Agreed, my teacher said a full cash book MAY come in, hopefully it will. Cash a couple (40-60) marks by doing a income statement/balance sheet (or both) and a cash book. Ooo seems lovely


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> Cash book
> Bank reconciliations
> Suspense OR/AND control accounts
> Usual income and balance sheets

Would be my bet.
GOOD LUCK, Post how you guys felt about the exam later on?


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Last minute question, what are the usefulness of the control accounts?!


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Original post by ALEVEL_STUDENT
Last minute question, what are the usefulness of the control accounts?!


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Provides up to date management information of total receivables/payables aiding in the preparation of financial statements

Acts as a check on staff, making it difficult for fraud to be committed as there is an independent check

Good luck!

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Reply 28
Avatar for sk_
sk_
1
did anyone retake/take the accounting unit 1 today?
MESSED UP BIG TIME!


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Original post by sk_
did anyone retake/take the accounting unit 1 today?


Yeah, it went pretty good apart the suspense account

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Original post by sk_
did anyone retake/take the accounting unit 1 today?



yeh same
it was alright but my Balance sheet didn't balance lol
Reply 32
Avatar for Ping123
Ping123
What did everyone get for the suspense account? Did sales and the supplier go on the cr side, Dr side bank?
Reply 33
Avatar for sk_
sk_
1
it was a bit iffy given that clearly they've changed their layouts so past papers don't help as much as they should do. what figures did anyone get for any questions? and what did you write for the 8 mark question?
Reply 34
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Ping123
Original post by sk_
it was a bit iffy given that clearly they've changed their layouts so past papers don't help as much as they should do. what figures did anyone get for any questions? and what did you write for the 8 mark question?


My trial balance difference was on the DR side along with bank, and the payable and sales overcast was on the CR side... For the last part of the question was it error of omission and error of principle twice?
Original post by Ping123
My trial balance difference was on the DR side along with bank, and the payable and sales overcast was on the CR side... For the last part of the question was it error of omission and error of principle twice?


oh ok
I put error of commission for one of them (I think Error 3). Is that wrong ?
Reply 36
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Ping123
Original post by Saranka Karan
oh ok
I put error of commission for one of them (I think Error 3). Is that wrong ?


That could be right
Original post by Saranka Karan
oh ok
I put error of commission for one of them (I think Error 3). Is that wrong ?

Also what figure did you guys get for you Balance sheet
cos I think mine was wrong
Reply 38
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sk_
1
i put error 1 was error of omission. error 3 was error of comission and error 5 was error of original entry
Reply 39
Avatar for Ping123
Ping123
Original post by Saranka Karan
Also what figure did you guys get for you Balance sheet
cos I think mine was wrong


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