As Accounting p2

[RoOk1303]

can some1 tell me if for instance the minimum mark for earning an A in accounting is 70 for p2, does it consist of only paper grade 1 and 2 or 1,2 & 3??​

Couldnt clearly understand the second part of your question .

 

[#examsarehard]

THANK YOU SO MUCH! finally someone.

 

[varsh@]

Couldnt clearly understand the second part of your question .

uhm i mean if u've obtained a mark of 70 marks in accounting p2 which may be the minimum mark required for grade A (gt), will u have a paper grade of 2 or 3 in your statement of result for p2?

 

[RoOk1303]

For an A (overall grade) , you can score up to 8 units. Meaning, 2 2 2 2 or 1 2 3 2 or sth similar. You will still be getting an A. But sometimes, it really depends. For instance, if your performance in p3 and p4 was good but p1 and p2 went bad , you have a chance to still get an A .
Thats what my tutor told me yesterday
So dont worry ^_^

 

[Ehsan Shah]

1st question we had to prepare income (12 ps) and f statement (8ps).and last ten points were suggesting the manager 2 finance resources and and explanation. in q2 there was like a 20 point worth table in which we had 5 ratios. 1. give the formula 2. what it means 3.what would make it vary. so 15 boxes basically. q3 had inventory valuation, profit reseting, differentiating revenue and capital expenciture, journal acount transfer, and lastly a depreciation calculation question. ANYBODY UP FOR DISCUSSING THESE QUESTIONS.

yo did your balance sheet agreed?

 

[silvisadeq]

what topics came for variant 22?

 

[TeensB]

For variant 22 , we had 1) departmental's income statement, advise the firm on the long term effect of closing the car wash dept. and the difference between bank loan & overdraft. 2) partnership's current account ,profit before appropriation, goodwill definition and capital account for the 3 partners. 3) break even , margin of safety as a % , statement to show computation for profit of the 2 options and advantages and disadvantages of buying from competitor .

The paper was damn easy.
So, we better prepare for p4. It will be hard .

Plz tell me something dr - 4 no. 3 when preparing statement to calculate profit when leasing the machine, did we have to account for any under/over absorption of o'heads?

 

[RoOk1303]

Plz tell me something dr - 4 no. 3 when preparing statement to calculate profit when leasing the machine, did we have to account for any under/over absorption of o'heads?

We just had to prepare a statement showing profit.

 

[TeensB]

We just had to prepare a statement showing profit.

Ya I know this but my teacher said that since only 500 units were produced when leasing the machine, the whole fixed prod. cost had to be recorded, i.e. fixed costs for 800 units...then we had to account for an over-absorption of profit...I didn't do anything as such
And I thought that the paper would be damn easy 4 me to score high marks in Accounting...

 

[RoOk1303]

Ya I know this but my teacher said that since only 500 units were produced when leasing the machine, the whole fixed prod. cost had to be recorded, i.e. fixed costs for 800 units...then we had to account for an over-absorption of profit...I didn't do anything as such
And I thought that the paper would be damn easy 4 me to score high marks in Accounting...

Are you sure about the fixed cost? I deducted both fixed costs but im not sure if it is correct.

 

[TeensB]

Are you sure about the fixed cost? I deducted both fixed costs but im not sure if it is correct.

I also put both fixed costs...actually we had to do it.
But the problem arises with the qty of units,which was less for leasing...consequently the firm has absorbed more o'heads than expected,thus the need to account for over-absorption

 

[RoOk1303]

:s omg ..but i did a question which was similar before ! We didnt account for any over or under absorption :s :s :s and the answer was correct.

 

[TeensB]

That's what I'm fearing nw...which perspective is correct?
Cuz if u see the marks (I guess 10) they won't be so easily given 4 a simple profit statement, right?

 

[RoOk1303]

That's what I'm fearing nw...which perspective is correct?
Cuz if u see the marks (I guess 10) they won't be so easily given 4 a simple profit statement, right?

Well dear, the marks for this question was 7 i dont think we had to do any over/under absorption. Just simple profit statement.
^^'

 

[TeensB]

If you say so, then I hope you are right dr... cuz I don't want 2 lose marks right now...there are still 3 papers left...