Accounting Paper 1 and 2

[Meg]

XD I'm so goddamned used to those questions that I just forget them P:
And yeah I'm fine, I've been studying for accounting most out of my other subjects.
I think I'll get an A* inshallah Grade threshold tends to be around 85% so I think I can get it.
I can't think of any more really important theory things atm but when I do I will tell you.

So basically just doing the past papers right?
guess that's the only way to crack this shit XD
Im sure you'll get A*
Every paper I see..there's one complicated question that is pretty hard to crack through :/
Couple of tricks I always end up messing up in :/
Any tips to do that?
Ps. did u check out the latest paper? Oct 2011 varient 2? :O
That paper was pretty hard :O

How many pp's are u done with?

 

[ThatReallyReallyWeirdDude]

So basically just doing the past papers right?
guess that's the only way to crack this shit XD
Im sure you'll get A*
Every paper I see..there's one complicated question that is pretty hard to crack through :/
Couple of tricks I always end up messing up in :/
Any tips to do that?
Ps. did u check out the latest paper? Oct 2011 varient 2? :O
That paper was pretty hard :O

How many pp's are u done with?

I havn't been counting, and I was dumb enough to not go in any sort of chronological order, but done alot.
Besides, even if they bring tricks in the exam i'm not worried. It's gonna be what, maximum 10 marks worth of tricks per exam? That's still 140/160 which is still in A* range and even then I can usually crack those tricks.
I probably did do that past paper but I'll check now

 

[Meg]

I havn't been counting, and I was dumb enough to not go in any sort of chronological order, but done alot.
Besides, even if they bring tricks in the exam i'm not worried. It's gonna be what, maximum 10 marks worth of tricks per exam? That's still 140/160 which is still in A* range and even then I can usually crack those tricks.
I probably did do that past paper I'll check now

Haha! XD
Ur like my twin
I have this huge pile of papers and I randomly kept solving
I am worried about trick questions :/
Out of 120..Im getting around 95?
Is that an A*?

 

[ThatReallyReallyWeirdDude]

Haha! XD
Ur like my twin
I have this huge pile of papers and I randomly kept solving
I am worried about trick questions :/
Out of 120..Im getting around 95?
Is that an A*?

Oh it's out of 120? I thought it was 160 P:
Oops we're both wrong, it's out of 240 (i.e. 2x120)
so 95/120 translates to 190/240
Last year A* was either 197/240 or 203/240
D:

 

[amy111]

Can any one help me in prudence concept

 

[Meg]

Can any one help me in prudence concept

Basically the prudence concept means that you dont overstate your asset value and understate ur losses.
Like the application of prudence principle is Depriciation

 

[amy111]

in some question it is given to explain how prudence concept is applied when a depreciation is done .... how to anwer that???

 

[Meg]

in some question it is given to explain how prudence concept is applied when a depreciation is done .... how to anwer that???

Basically prudence is applied as the value of the asset is reduced per annum. This ensures assets are not overvalued

 

[ThatReallyReallyWeirdDude]

Basically prudence is applied as the value of the asset is reduced per annum. This ensures assets are not overvalued

As well as that, it reduces the value of assets to a more realistic value (i.e. doesn't ignore the decrease in value of assets).

 

[amy111]

http://www.xtremepapers.com/papers/CIE/Cambridge IGCSE/Accounting (0452)/0452_w11_qp_12.pdf plz help me in question 3 a ( the puchases one ,, how to enter it?)​

 

[IGCSE O/L student]

http://www.xtremepapers.com/papers/CIE/Cambridge IGCSE/Accounting (0452)/0452_w11_qp_12.pdf plz help me in question 3 a ( the puchases one ,, how to enter it?)​

you have to enter it as $2880.00

 

[IGCSE O/L student]

Basically prudence is applied as the value of the asset is reduced per annum. This ensures assets are not overvalued

and that profits are not overstated.

 

[amy111]

you have to enter it as $2880.00

but they said that there is a trade discount of 4% if above 1500 and wat bout the justin one

 

[IGCSE O/L student]

but they said that there is a trade discount of 4% if above 1500 and wat bout the justin one

the question says "paid cash to..."

 

[amy111]

wat bout the justin one

 

[Meg]

Can someone help me tackle Manufacturing Account, Subscription Account, Accounts of Clubs and Societies and Goodwill?
Those are my weakpoints :/
Especially Manufacturing!
Any tips?

 

[amy111]

NEED HELP IN CONTROL ACCOUNTS!!!!! In puchase ledger control we will get some bought downs .... wat exactly r they????

 

[Meg]

NEED HELP IN CONTROL ACCOUNTS!!!!! In puchase ledger control we will get some bought downs .... wat exactly r they????

Okay..I struggled with control accounts too!
But I changed the way I looked at it!

See..you can assume the Purchase Ledger to be a like a Creditor's account! Treat it the way you'd treat a Creditor's account! Same way exactly!
And Sales Ledger = Debtor's account
That's it!

 

[IGCSE O/L student]

NEED HELP IN CONTROL ACCOUNTS!!!!! In puchase ledger control we will get some bought downs .... wat exactly r they????

if you get one brought down on the credit side, it means that is the amount you owe creditors. if you get a brought down on the debit side, it means either you were provided with faulty goods, you were overcharged, or you returned some of the goods

 

[IGCSE O/L student]

Okay..I struggled with control accounts too!
But I changed the way I looked at it!

See..you can assume the Purchase Ledger to be a like a Debtor's account! Treat it the way you'd treat a Debtor's account! Same way exactly!
And Sales Ledger = Creditor's account
That's it!

it's the other way around:
Sales ledger account is the total debtors account
Purchases ledger control account is the total creditors account.