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OCR F013 (Company a/c and interpretation) and F014 (Management Accounting) Exam Watch

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    Hey, who's got the F013 and F014 exams coming up?? Just under a month to go now! How's everyone finding it??
    I'm struggling to learn answers for the written questions
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    (Original post by lionelmessi19)
    Hey, who's got the F013 and F014 exams coming up?? Just under a month to go now! How's everyone finding it??
    I'm struggling to learn answers for the written questions
    I find f14 to be a lot easier than f13. I think I'm going to struggle rememberin the written questions as well as some of the harder fixed asset schedules. Not long to go now!
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    (Original post by hanley9)
    I find f14 to be a lot easier than f13. I think I'm going to struggle rememberin the written questions as well as some of the harder fixed asset schedules. Not long to go now!
    Yeahhh I know right!! Schedule of FA is my worst too!! Don't like some of the ratios either
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    How did everyone find it?
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    Can anyone roughly remember what they got for any of the questions? Like 2.04 years, 33.33% etc ? Ring any bells?
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    Yes i got 2.04 years but I don't think I got 33.33%. I think I got a 36 pence and somewhere around 20k for the profit in the P&L but I definitely made one or two mistakes on it
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    Return on capital employed I got 33.33% but they usually accept a few different versions as different centres are taught different ways to calculate. Stupid really! 36 pence yes! Did you calculate the gearing ratio for the written stuff on that question? Yeah I got something like 21376 for my profit - not having a rounded number worried me! The loss on sale of the fixed asset, were you supposed to add that into admin expenses? I got a nice rounded nbv for one asset like 97750 and the buildings was okay but the other asset has a bit of a weird nbv. Anyone else find that?
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    2.4 for another ratio?
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    I wasn't sure what to do with the loss on fixed asset so I think i just left it out but adding it to admin expenses was probably right. I do remember that building figure but I cant remember much else other than the other NBVs not being too nice!
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    (Original post by MHSRoom)
    2.4 for another ratio?
    (Original post by hanley9)
    I wasn't sure what to do with the loss on fixed asset so I think i just left it out but adding it to admin expenses was probably right. I do remember that building figure but I cant remember much else other than the other NBVs not being too nice!
    Exam was pretty good huh?!! It thought it was decent! Thanks OCR!! Same again next week yeah!

    I got my profit carried forward as: £21630 - don't know if that's right!? Lol
    My net book value for the schedule of fixed assets are as follows:
    Land and Buildings: £615000
    Motor Vehicles: £171284
    Machinery: £106500

    I got the same ratios as you guys above ^^^
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    Yeh it was a pretty nice exam! Written questions were quite straight forward.
    Those fixed asset figures look familiar as well.
    I think i got something like £20030 retained profit so I've most likely made £1600 worth of mistakes which isn't the end of the world!
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    (Original post by hanley9)
    Yeh it was a pretty nice exam! Written questions were quite straight forward.
    Those fixed asset figures look familiar as well.
    I think i got something like £20030 retained profit so I've most likely made £1600 worth of mistakes which isn't the end of the world!
    That's good! Yeah the written bits were decent too!!
    I included the loss on sale in the distribution costs -- It did say that the depreciation of that fixed asset was a distribution cost, so I included it there..
    The depreciation for the P&L a/c was a bit dodgy.. that might be why we've all got different lol
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    Yes 21630 was what I got. Good point about the loss on sale, that's annoying. Hopefully that will only be worth one or two marks. I'm pretty sure I agree with those NBVs too! Thank god. It's so hard when you don't have a balance sheet so you don't know whether you're right or wrong!
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    (Original post by MHSRoom)
    Yes 21630 was what I got. Good point about the loss on sale, that's annoying. Hopefully that will only be worth one or two marks. I'm pretty sure I agree with those NBVs too! Thank god. It's so hard when you don't have a balance sheet so you don't know whether you're right or wrong!

    YESS!! Glad I found someone with the same answers!!
    Yeah, you'll only lose a mark if you put loss on sale as admin.. I've seen it on other questions too.
    Btw, where did you enter "commission received"? I entered it as other income, along with rent received.
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    Yeah that's where I put them, added them together. Sneaky because there's usually just the one "other income" ! And it's quite hard to notice without debit and credit columns!
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    (Original post by MHSRoom)
    Yeah that's where I put them, added them together. Sneaky because there's usually just the one "other income" ! And it's quite hard to notice without debit and credit columns!
    Ok that's good then!!
    Yeah, very sneaky! :P It was also quite weird how there was all this additional information too. Like the value for premises, ordinary share capital etc.. It didn't even say on the question paper that premises is not depreciated!!
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    That's so true. One of my friends wasted time drawing up the balance sheet because she didn't read the requirements and saw the extra info and thought she had to use it.
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    What annoyed me was how they said depreciation was charged in each month after the rest of the depreciation info. So I ended up working that out a good couple of times!
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    I'm getting a bit worried now that my net profit was actually 21636... Were people just roughly stating their net profits and rounding it to 21360 or is my memory just bad and I'm thinking I wrote something that I didn't ? Lol
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    (Original post by MHSRoom)
    What annoyed me was how they said depreciation was charged in each month after the rest of the depreciation info. So I ended up working that out a good couple of times!
    (Original post by MHSRoom)
    That's so true. One of my friends wasted time drawing up the balance sheet because she didn't read the requirements and saw the extra info and thought she had to use it.
    Yeah the format on the paper was pretty poor tbh!! I had to work it out a few times too! I also made the rookie error of answering the written bit in the wrong place. I only realised once I turned the page that there is a separate page to answer the written question
    One of my friends wrote out the balance sheet just to check if the profit was correct LOL!
 
 
 
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Updated: March 14, 2016
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