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

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    (Original post by MHSRoom)
    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
    No, I definitely got 21360, I saved these answers in the calculator :P
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    I got in the region of 26000 but can't quite remember exactly and my NBV's seem similar too if not the same but my only worry were the ratios and whether I used the correct formula and figures. Found the written questions straight forward too so fingers crossed F014 is the same case
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    Is loss on sale admin or distribution expense/cost?
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    (Original post by jordanifgh)
    Is loss on sale admin or distribution expense/cost?
    I put it as distribution, because it said that the whole depreciation expense for that asset was distribution. So it goes in there
    I've seen it like that before on a past paper too
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    (Original post by lionelmessi19)
    I put it as distribution, because it said that the whole depreciation expense for that asset was distribution. So it goes in there
    I've seen it like that before on a past paper too
    peak i put it as admin. does the workings box get marked for distribution and admin workings?
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    (Original post by jordanifgh)
    peak i put it as admin. does the workings box get marked for distribution and admin workings?
    Should be alright dw.. Maybe drop one mark for putting it as admin, buts its minor, because it doesn't effect the other numbers so dw

    I put all those calculations in the workings box too. I'm sure they look for marks in that box! There's no point having it then. As long as its clear how you've done it, should be fine
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    I had no idea that we include loss on disposal in the expenses :/
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    (Original post by gr8dude)
    I had no idea that we include loss on disposal in the expenses :/
    The loss on the sale of the fixed asset should have been added onto the distribution expense.

    You should have completed all the past papers as the same situation popped up in on of the questions and got me out, that's how I knew how to do it today!

    The up-side to this mistake is, if you used the right number, profit figures should be unaffected
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    How's F014 revision going guys?
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    Pretty good just making sure there are no questions I can't do and doing my best toremember all the written questions. Topics seem to be a lot easier general - unfortunately there are just more of them..
    How is it going for you?
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    (Original post by hanley9)
    Pretty good just making sure there are no questions I can't do and doing my best toremember all the written questions. Topics seem to be a lot easier general - unfortunately there are just more of them..
    How is it going for you?
    Yeah same!!
    Learning the answers to written questions is tough
    Hopefully they're as nice as F013!
    Just got to keep practicing loads of questions and hope for the best
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    Can someone explain what Activity Based Costing is please? Its confusing af!!
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    (Original post by lionelmessi19)
    Can someone explain what Activity Based Costing is please? Its confusing af!!
    ABC absorbs overhead costs on the basis of the major activities involved in producing a product.

    Say 2 factories make 10 pens: 1st one produces all of same colour and the other one different colour pens. Although their output level, DLH and DMH are the same, clearly the 1st factory requires limited support facilities whereas the 2nd one requires larger support. The additional support overheads cannot be explained in terms of DLH or DMH.


    so in this case ABC might be preferred instead of traditional absorption costing.

    I don't think I've explained this very well, but hope it helps!
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    (Original post by gr8dude)
    ABC absorbs overhead costs on the basis of the major activities involved in producing a product.

    Say 2 factories make 10 pens: 1st one produces all of same colour and the other one different colour pens. Although their output level, DLH and DMH are the same, clearly the 1st factory requires limited support facilities whereas the 2nd one requires larger support. The additional support overheads cannot be explained in terms of DLH or DMH.


    so in this case ABC might be preferred instead of traditional absorption costing.

    I don't think I've explained this very well, but hope it helps!
    Cheers for your reply
    Makes a bit more sense!
    Good luck for tomo
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    What's it with OCR making such bloody hard papers?!
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    How did you find it? Did you save any numbers?
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    (Original post by hanley9)
    How did you find it? Did you save any numbers?
    I thought the numerical side of the paper was good!
    But the written questions took the piss!
    Sorry, I didn't get time to save any of my answers, so no I don't
    How did you find it??
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    The written questions were so bad! :/
    the past grade boundaries have been quite high for accounting :/ hopefully they arelower this year
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    (Original post by gr8dude)
    The written questions were so bad! :/
    the past grade boundaries have been quite high for accounting :/ hopefully they arelower this year
    Yeah ikr!! I had never seen some of the written questions before!
    Hopefully the boundaries are lower!
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    (Original post by lionelmessi19)
    Yeah ikr!! I had never seen some of the written questions before!
    Hopefully the boundaries are lower!
    And it was quite surprising to see 2 questions on stock valuation! I didn't mind that,
    but just all the narrative questions ughhh :'(
 
 
 
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