Accounting-Howd it go for you

Soby

Terrible...i think i was due a fail..and today was it....Failed without a doubt...ah well

acc grinds

What came up ?

Bongomc

Terrible Exam Sole Trader Q1 and i hadn't practiced it coz i thought Manufacturing would come up.

Published and club accounts came up in section 1 leaving cash flow for section 2 which i didnt practice either.

There was too much theory this year IMO every Q had a bit at the end.

The LeavyC

Where were the Club accounts?! Q1was ok. got a final balance of:1026375.
production was alright, probably made a slip r 2. got a Gross Prof of:654310
Interp was alright too, but cash flow was rubbish, added everything in the abridged P&L by mistake.. just wasnt thinking got the format mostly right though i think... took a piss in the wind and got it all over myself for the part (b) also.

Slashman X

HL

Supposed to be my best subject, predicted an A1,lucky toget an honour. Shocking bad test.

ireland90

I agree hard Paper. Suspense adjusments very different to previous years. Glad others found it hard 2!

**Rachael**

What happend to manufacturing and club and published in section 2!:mad:??

Hopefully interpretation and budgeting got me through!! :(

How do you EVEN DO suspense accounts??
i hadnt a clue of them r of cash flow just gave it ago never even seen them before!

:(:(

muffinman

Shocking paper.. They mixed the Budgeting into Q8... We hadn't been taught it I knew the feckin theory for interpretation about prudent management, and I finished up with 10 mins to spare, and stupid me I DIDN'T ANSWER IT!! That's 15 marks gone there and eliminates any chance of an A for me.. I think.. Meh I'm not too bothered I've still got my course, but it was definitely a terrible exam..

Stin

my cash flow and control a/c (didnt think that one would come up so i dont revise it, shame since they're easy) were terrible

hard to say with the other 3 Q's went, i guess finishing with an hour to spare was a pretty bad sign.....

ireland90

So annoyin to see published and club in section 1 and not 2!

irish_boy90

taught all the other exams this year were fine than this monster was handed to me.

first time I did a soul trader......yeah i was banking on a manufacturing.
i did cash flow and suspense. for section b
didn't know the headings for the cash flow or when figures to use.
suspense wasn't too bad. didn't do well on it anyway.


the section 3 was perfect. Lovely production budget came up.


Still think I failed it badly though.


as if i wasn't worried as it was.

O well Applied maths is next on my list.
Am going to take the rest of today off to sulk over accounting though.:mad:

betsymagoo

mark it easier then so.... like give all the marks for attemps of workings and nice straight lines.....

JJPW89

Rough enough paper!! Suspense was dodgy out and the amount of theory was crazy!! Goodbye A1!!!!!:mad::(

Redisle

Absolutely terrible test!
I was hoping for an A1 and now Il probably end up with a low B or worse

By far the worst accounting exam I have ever seen!
Where was the depreciation?? What was up with that Cashflow theory?? 100mark cashflow.. first time in 10 years, just had to be us didn't it...

That suspense question was sooo hard too, I was so used to the same kind of suspense questions that came up year after year and then this was totally different and really hard..

All the guys in my class who are very good at this subject and usually get a1's all the time were all giving out about it. Terrible Terrible Terrible Paper!!!

Yuugib

*high-five* to everybody... for some reason i decided to do q8 .. so regret it now left out 3 parts until the end and didnt have time to come back to them
damn it..
i m officially depressed now.. argh .. dont even have a will to study for economics tomorrow

Alan Smith

Thought ordinary was easy........

postalservice

Yup. I got 100% in pre's and will be lucky to get a B now.
I actually had a semi-heart-attack half way through.
What can they do?
I think that they can actually give extra marks for absolutely no reason.
It happened a few years ago with Home ec ( 2004 i think) when the paper was horrible

Can't believe i have economics 2moro.
I was way more worried about that than accounting:(:(:(:(:(

BCawley

Yeah thought it was a disappointing test too, I don't do Q1's so It wasn't a problem for me. Raging Published was only a 60m, that left just Cash Flow and a Suspense which I chose not to study. I stuck in the headings and nothing else for Cash Flow on they way out of the exam hall, leaving me that section with a nice 5/100 marks
Production Budget was easy enough but I thought the Theory was a joke this year
At most a C1 but that's not likely

AaronCregan

I KNEW 100 mark cashflow was gonna come up even though my teacher said it wouldn't. Thank god I studied it yesterday. That question went amazing. Budgeting was fine. Club accounts was fine appart from what they did with the investment. Interpretation was fine too.

Theory was horrible though and I left out a whole 60 mark question because I was hoping Published would be in section 2 and that Depreciation would come up so I was really pissed off about that.

Diarmsquid

Pretty hard paper alright. Lucky for me I had rules out doing Q1 anyway. I never liked the big massive long ones, so that massive shock didn't really affect me. Eveyone else in my exam hall were close to tears tho.

I agree that the suspense was very tricky. I was gettin 100% in any of the past papers up till then, but that was different.

Intrpretation was good.
Budgetting was lovely.
Club Account was grand.
Creditor Control, not so good.

But overall, alright.

Slashman X

Q8 the very last question, anyone else do a huge complicated maths equation?

Ekels

The amount of people in the same boat as myself (A1 candidates) is amazing. Yep, did very poor in that awful suspense question. I didn't do a great sole trader, I also found those sickeningly difficult adjustments awful.

Basically, whoever wrote that paper was taking the piss. To put up such a series of difficult adjustments in both the final a/c and suspense was horrible.

I can only imagine what the marking scheme will look like. The amount of people getting A1's across the country will be dwarfed in comparison to other years, most definitely. You'd have had to have an unbelievable comprehension of the whole accounting system to ace that.
My teacher was there after and she was just sickened.

Ridiculous.

ireland90

The marking scheme for this paper should b good if so many A1 students found it hard.

postalservice

I'm gonna be doing Finance next year and it looks like i wont even be counting accounting.
That doesn't sound right

Jiggy

In my pre's i did terrible because i forgot everything right there on the spot , and i spent all day thursday looking trough the papers and affter an hour or so came up with a pattern , brought the pattern in and no one believed me and even my teacher said half my stuff was wrong , that patern was 100% correct i feel really bad for everyone but really good for myself xD

NO MORE ACCOUNTANCY!

Mars Bar

I got a D3 last year and was horrific at accounting. I got stuck into it this year and got a B3 in the mocks. I was confident going into the exam today. And this is what I get? A year of hard work screwed because some plank doesn't want to see students get an A in accounting. It's the only subject they try to take marks off instead of give. I hope they give marks galor for blank sheets when they are correcting them.
Thanks a ****ing lot Christy Tyrell, ya wanker.

whateva eva eva

What the fúck was that?? Christy Tyrell is a fúcking gobshíte. He went out of his way to put students off. That was absolute bullshít.

whateva eva eva

Wanker face c0ck

Ekels

The worst part was that the theory will be A-blockers for the mature students with accounting degrees who have come back to re-sit their leaving in order to move away from the accounting profession and into something else.

max21

What a way to end my leaving cert. Suspense was horrible gave up half way. Our teacher told us not to go near it anyway but I just had a blank on the ratios and the cash flow headings. SOLE TRader???? Why? I had manufacturing practiced so well. The theory on each question put me off. What I hoped was my best paper I could fail. Im so miserable

The LeavyC

did nobody else balance question 1? if u did what was ur figure? i havn't heard anybody elses yet.

Ekels

But if you think about it, to get an A1 will be nigh on impossible unless you've gone through the whole accounting syllabus in order to compile the most in-depth list of theory questions and learn them off, word for word.

I'd love to be a fly on the wall at the exmainer conference. Not to mind the fact that all the correctors, as teachers, will be fuming with the exam that was put in front of their students.

diddley

Hated the paper.. I was sure either club or published would be 100's but no. I hadn't studied cash flow so left out a whole question. I'll be lucky to pass.

Slashman X

Ekels wrote: »

But if you think about it, to get an A1 will be nigh on impossible unless you've gone through the whole accounting syllabus in order to compile the most in-depth list of theory questions and learn them off, word for word.

I'd love to be a fly on the wall at the exmainer conference. Not to mind the fact that all the correctors, as teachers, will be fuming with the exam that was put in front of their students.

Our teacher gave us all the answers to past Theory questions and common Theory questions a week before we had the test

muffinman

Ekels wrote: »

gone through the whole accounting syllabus in order to compile the most in-depth list of theory questions and learn them off, word for word.

Seriously.. The influence of the Accounting Standards Board on the preparation of Cash Flow Statements? I'm sorry but I registered for Accounting, not the History of Accounting Practices in Ireland in the 20th and 21st Centuries

nerd3000

Not only do they want less people getting A's, they want less people having the mentality of Accounting being easy and predictable. Christy Tyrell was the one who let it become so predictable and easy in the first place. And now he's screwing us all by throwing 11 ADJUSTMENTS on the final accounts and THEORY questions that aren't even in the book, HIS OWN TEXT BOOK. 650 odd pages of pure muck. Some Published a/c's I practised didn't even have Coporation Tax!!!!!!
but also consider that the methods of doing things in his book is different to leaving cert. correcting...What is a student supposed to do???..

Wait till exam day to make or break them?

Who here has heard of a "Special Purpose P & L A/C"??????

Last year, with the fire breaking out in Q1 was the beginning of Accounting becoming FIERCELY difficult.

No more predicting.
No more easy grades from Accounting.

Cheers Christy

max21

Cash flow has not been up as a 100 mark for ten years - why did it have to come up for us.

The LeavyC

muffinman wrote: »

Seriously.. The influence of the Accounting Standards Board on the preparation of Cash Flow Statements? I'm sorry but I registered for Accounting, not the History of Accounting Practices in Ireland in the 20th and 21st Centuries

Yeah! what the ****? i was thinking of just writing something like, "ah here cmon...." but just wrote down They improved the standard.. hopefully they'll be looking to give out marks and that mite get me 1 or 2 lol.

muffinman

Is everyone 100% sure that it was Christy Tyrrell who set the paper by himself? Has it actually been confirmed?

Slashman X

muffinman wrote: »

Is everyone 100% sure that it was Christy Tyrrell who set the paper by himself? Has it actually been confirmed?

We were told a new woman was setting the paper this year

Mars Bar

muffinman wrote: »

Is everyone 100% sure that it was Christy Tyrrell who set the paper by himself? Has it actually been confirmed?

He'd want to not have set that paper, he must be then #1 most hated man in the country right now. And rightly so. God I HATE him SO much right now

The Hitman

Christy Tyrell is a f***ing gob****e. I was banking on accounting for points.
That suspense was a load of ****e. He could have at least eased 2 new workings in at most this year but no he had to f**k it up for everyone and put in 5 new ones.
As for the theory I'd say you'd have to be a chartered accountant to be able to answer it.
If that marking scheme isn't drastically adjusted there will be uproar.

nerd3000

muffinman wrote: »

Is everyone 100% sure that it was Christy Tyrrell who set the paper by himself? Has it actually been confirmed?

Ya it was Christy and few other drunks. All off their head one Saturday night, 3 am, met down a dark alley and planned to rape a couple thousand students by giving them an impossible paper!

Mars Bar

Our teacher knows Christy and I told her to ring him and give him a good bollicking over it coz he deserves it...

Adventure

Who's Christy?

Ekels

Adventure wrote: »

Who's Christy?

He set the accounting exam.

muffinman

Can someone confirm this for me please? I'm actually seriously considering writing a letter or something..

Go to Q5.. And look at the figures they gave for the year ended 31/12/2006

OK, Formula for Dividend Yield is (DPSx100)/Market Price

Work it out based on the figures they gave (5x100)/135 = 3.07% Yeah???

And then look at the figure they gave for Dividend yield... 6%!!!!!!!!

This put me off for a good 5 minutes...

Just .. Am I right in this yeah?

Ekels

I also had accounting as my very last subject. It's probably among my best subjects.
There I was when I saw the timetable, thinking accounting would put me in a good mood for the summer.

I wouldn't mind but it's ridiculous to say that accounting is an easy A. Far from it. In our class we would spend an hour a night on accounting. I didn't spend that much time per night on any other subject, and this pile of ****e was put in front of me today.

Ekels

muffinman wrote: »

Can someone confirm this for me please? I'm actually seriously considering writing a letter or something..

Go to Q5.. And look at the figures they gave for the year ended 31/12/2006

OK, Formula for Dividend Yield is (DPSx100)/Market Price

Work it out based on the figures they gave (5x100)/135 = 3.07% Yeah???

And then look at the figure they gave for Dividend yield... 6%!!!!!!!!

This put me off for a good 5 minutes... If I'm right here, then this is the most unprofessional exam I've ever seen in my life.. The SEC need to cop themselves on and stop with this bullsh*t....

Just .. Am I right in this yeah?

LOL. You're spot on, checked it there.

muffinman

Ekels wrote: »

LOL. You're spot on, checked it there.

Yeah, so therefore, I'm seriously considering that letter to Athlone!!

Riverperson

Thank God! I was terrified I'd come on here to find ye all saying that it was a lovely paper. Thank the Lord I wasn't banking on this exam for a load of marks. I failed my pre so I kinda went into this exam expecting the worst. I'm hoping for a C now.
My 60m were ok. My 100's wouldn't balance. But my 80m was lovely.
And I completely bull***ed the theory. What a joke.