accounting AS IMPORTANT TOPICS paper....

[mohsinsrk]

IMPORTANT TOPICS FOR JUNE 2011(AS) EXAM.
Q.1)PARTNERSHIP or incomplete records full length question with balance sheet and income statement]
Q.2)BANK RECONCILIATION STATEMENT OR CORRECTION OF ERRORS]
Q.3)OVERHEAD ANALYSIS SHEET WITH CONCEPT OF UNDER OR OVERHEAD ABSORBED OVERHEAD+JOB/BATCH COSTING]
BEST OF LUCK FOR THE EXAMS....

 

[abdullah12]

Where did u hear this frm??

 

[mohsinsrk]

Where did u hear this frm??

I GOT THESE FROM MY TEACHER

 

[abdullah12]

Where did u hear this frm??

I GOT THESE FROM MY TEACHER

Do you have any notes on Costing and Over/Under Absoprtion..? How do we know if its over or under absorbed?

 

[mohsinsrk]

Where did u hear this frm??

I GOT THESE FROM MY TEACHER

Do you have any notes on Costing and Over/Under Absoprtion..? How do we know if its over or under absorbed?

no sorry no notes on costing..
and to know whether its under or over absorption we campare units of actual production and budgeted production
is only used in ABSORPTION COSTING NOT MARGINAL..
EXAMPLE NOV 2008 P2 Q3
it is given tHAT actual units produced are 80000 units;
while is period 28 feb ur budgeted units produced were 45000 units {sales(units)60000=opening stcock units15000 +units produced - nill closing units}

SO TO FIND WHETHER IT IS UNDER OR OVER U WOULD MINUS ACTUAL WITH BUDGET
80000-45000 =35000UNITS UNDER AS U ASSUME LESS THA ACTUAL UNITS

 

[abdullah12]

What if in the exam, I forget to write something in Profit & Loss account (eg I forgot to deduct drawings from Purchases in Cost of sales section)?? Do I have to cancel everything ans start on new page or what do I do??

 

[huzaifa]

its best 2 leave it like that....just finish it with the missing value......bcos then u wud lose only arnd 2-3 marks....but if u try doing it again..and cannot finish the paper finsh the paper in time...then u myt lose more marks!