any guess for accounting paper 2 ?

[haider cheema]

guide me through some key points in accounting . . which can come in the exam

 

[muzirox]

Hey there r imp tpcs posted by "AMMY" somewhere on ds frm
Here they r

Purchase ledger control accounts
Manufacturing accounts
Ratios
Non profit organization
Suspense accounts
Journal Entries
Company accounts theories
Patnership theories as well

 

[Zhamed]

haider cheema, go through Oct/Nov 2011 Accounting 22. I just have a hunch that we will be getting similar questions from it. Because the papers that I've done so far, most questions came from it.

 

[haider cheema]

Zhamed thanks mate . . i would surely go through ur suggestions . .

 

[Zhamed]

Welcome bro!

 

[Muhammad Zain Qasmi]

Well, criticisms aside - Guys it would be really nice of yall if anyone could provide me the best/most efficient way to learn ALMOST ALL OF POA (Theory) paper tomorrow in these remaining 10 -12 hrs or so...provided I am only aware of the basic concepts like Double Entry, T-Accounts, Trial Balance...maybe ledgers too :S
Thanks alot! Most importantly, IM NOT KIDDING :/

 

[AlphaBeta]

Well, criticisms aside - Guys it would be really nice of yall if anyone could provide me the best/most efficient way to learn ALMOST ALL OF POA (Theory) paper tomorrow in these remaining 10 -12 hrs or so...provided I am only aware of the basic concepts like Double Entry, T-Accounts, Trial Balance...maybe ledgers too :S
Thanks alot! Most importantly, IM NOT KIDDING :/

too late get a U* its also an achievement read some notes wthch have been posted y robinhood something in o/l notes thread

 

[Zhamed]

Chill the f out dude!
AlphaBeta why don't you stop judging the guy with negative impressions about the paper! Come on man, we all are trying to achieve something here!
muhammad Zain Try to make a mindmap dude, it will be easy to remember what you are studying
Learn about the accounting principles
- For maintaining provision for doubtful debts = Prudence and Matching Concept
- Money measurement --> recording items that are in monetary terms(that means in money only)
-Consistency --> Should apply the same method year by year

Maybe questions might come from these principles.

Know the ratios
ROCE(Return On Capital Employed)
-Formula= net profit
capital employed, to find capital employed, its Fixed Assets -(minus) Net Current Assets or Working Capital.

Rate of Inventory Turnover
-Formula= Cost of sales
Average Stock/Inventory, to find average stock, Opening inventory + Closing inventory/(divided) by 2

Current ratio aka Working Capital Ratio
-Formula= Current assets/Current Liabilities, for ex., 1.5:1 .. this is how the answer should be

Acid test ratio
-Formula= Current assets - Less stock / Current Liabilities

Others will be quite easy, you can get it from the name itself i.e. net profit/sales percentage, gross profit/ sales percentage and so on

.Trade discount, cash discount ---> Know how to get the amount
.Control accounts (might come, not sure) after its kinda easy
.Get a good knowledge about depreciation, and how do we put it in Final accounts (income statement and balance sheet)
.Know the exact format. All labels should be written

thats all I can remember for now, don't worry dude! all iz well!