UsKmekwioz
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Hi, this is a new thread for Accounting Unit 1 for 2017... How's revision going? and any ideas on what will come or just anything really about Unit 1
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jelly.3
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There's always financial statements. I'm worried about the suspense account coming up
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UsKmekwioz
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(Original post by jelly.3)
There's always financial statements. I'm worried about the suspense account coming up
Same, they always seem to be the most difficult part of the paper and they weren't on last years either. I just think of it as what isn't COPCOR goes on the suspense account. The set of individual accounts is also so hard
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jelly.3
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What's COPCOR?
And yeah the individual accounts are confusing. Is it just me or do the mark schemes deduct marks for no reason sometimes. Like when calculating depreciation in the balance sheet. You're just supposed to know whether or not to add the depreciation from the income statement to the provision.

Maybe it's just that I'm missing something.
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username2052983
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(Original post by jelly.3)
What's COPCOR?
And yeah the individual accounts are confusing. Is it just me or do the mark schemes deduct marks for no reason sometimes. Like when calculating depreciation in the balance sheet. You're just supposed to know whether or not to add the depreciation from the income statement to the provision.

Maybe it's just that I'm missing something.
I find the depreciation calculation easy. Don't you just add the depreciation of the year to the provision for depreciation on the balance sheet and minus it from the cost to get the NBV?

I really hope cash book doesn't come in, I can't do it without having a table of what is debited and what is credited in front of me :laugh:

(Original post by jelly.3)
There's always financial statements. I'm worried about the suspense account coming up
Praying for no suspense accounts. I hate the type of suspense accounts where it says something like discount allowed had been entered to the credit of discount received
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jelly.3
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(Original post by BintM)
I find the depreciation calculation easy. Don't you just add the depreciation of the year to the provision for depreciation on the balance sheet and minus it from the cost to get the NBV?

I really hope cash book doesn't come in, I can't do it without having a table of what is debited and what is credited in front of me :laugh:



Praying for no suspense accounts. I hate the type of suspense accounts where it says something like discount allowed had been entered to the credit of discount received
Yeah I know what you mean. Isn't it just debit receipts and credit payments with the cashbook?
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UsKmekwioz
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(Original post by UsKmekwioz)
Same, they always seem to be the most difficult part of the paper and they weren't on last years either. I just think of it as what isn't COPCOR goes on the suspense account. The set of individual accounts is also so hard
COPCOR are the errors that aren't shown on the trial balance, such as commission error, omission etc. The ones that do affect the trial balance are what go in the suspense.
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UsKmekwioz
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(Original post by jelly.3)
Yeah I know what you mean. Isn't it just debit receipts and credit payments with the cashbook?
It's the same as the bank so yeah
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username2052983
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(Original post by jelly.3)
Yeah I know what you mean. Isn't it just debit receipts and credit payments with the cashbook?
Yeah but i still always mess up :dontknow:
Are you doing unit 3 and 4 as well?
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UsKmekwioz
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Hoping for bank reconciliation, source documents etc. It's all amount getting maximum marks in paper 1 cos paper 2 is much more difficult
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jelly.3
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(Original post by BintM)
Yeah but i still always mess up :dontknow:
Are you doing unit 3 and 4 as well?
Yeah
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jelly.3
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(Original post by UsKmekwioz)
Hoping for bank reconciliation, source documents etc. It's all amount getting maximum marks in paper 1 cos paper 2 is much more difficult
Sameee although I've never gotten full marks in practice papers. Always around 86%.
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(Original post by jelly.3)
Yeah
How are you finding A2? I still haven't finished studying unit 4 content
Are you retaking AS?

(Original post by UsKmekwioz)
Hoping for bank reconciliation, source documents etc. It's all amount getting maximum marks in paper 1 cos paper 2 is much more difficult
I prefer paper 2 :laugh:
Its more interesting lol
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UsKmekwioz
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(Original post by BintM)
How are you finding A2? I still haven't finished studying unit 4 content
Are you retaking AS?



I prefer paper 2 :laugh:
Its more interesting lol
Wow, you guys both doing a2 as well? How does it compare to unit 1 and 2? Is it a lot harder?
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UsKmekwioz
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(Original post by jelly.3)
Sameee although I've never gotten full marks in practice papers. Always around 86%.
I get around 84%, it's just annoying cos of how much harder they are now compared to say about 5 years ago
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jelly.3
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(Original post by BintM)
How are you finding A2? I still haven't finished studying unit 4 content
Are you retaking AS?

No, I haven't started yet, I'm hoping I get through to year 13.

I prefer paper 2 :laugh:
Its more interesting lol
True, but much harder loool.
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username2052983
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(Original post by UsKmekwioz)
Wow, you guys both doing a2 as well? How does it compare to unit 1 and 2? Is it a lot harder?
Yeah A2 is a lot more complex tbh, it goes into partnership accounts, limited companies, accounts for manufacturers. marginal/absorption costing, more detailed budgeting etc
What A-levels do you do?
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(Original post by jelly.3)
True, but much harder loool.
Maybe I'm just saying its easier because I've only done 3 accn2 papers and they haven't been too bad :dontknow:

What are you aiming for?
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UsKmekwioz
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(Original post by BintM)
Yeah A2 is a lot more complex tbh, it goes into partnership accounts, limited companies, accounts for manufacturers. marginal/absorption costing, more detailed budgeting etc
What A-levels do you do?
Accounting, business and computer science, but I'm only in year 12. What about you?
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jelly.3
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(Original post by BintM)
Yeah A2 is a lot more complex tbh, it goes into partnership accounts, limited companies, accounts for manufacturers. marginal/absorption costing, more detailed budgeting etc
What A-levels do you do?
Economics and Maths, how about you?
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