Accountancy...

QueenOfLeon

Hey guys, hope ye can help me with something. My accountancy teacher every year makes predictions on whats going to come up. I know some things in accountancy are obvious to be on, but she goes a bit too far with this and basically concentrates on only these areas that she thinks will be on.

The problem is, she has been wrong. A LOT. Last year, she had them convinced a manufacturing account would be on. For the last month or so, all they did was manufacturing accounts. A sole trader came up some of my friends who were A standard most of the year and were depending on accounting for points, ended up with Cs and Ds, because of this and another question that they hadnt prepared.

Im really worried that this is going to happen again with us. She has decided on certain questions that she thinks will be on, and for the next 2 months it seems these will be all we'll be doing. We've asked her to go over other areas, but she says we dont need them.

So im wondering if any of ye could give me any idea of what your teachers are preparing ye for. She thinks manufacturing is guaranteed to be on, so weve barely touched sole traders or PLCs. In section 2, we're only practising the interpretation (which I know will definately be on so thats ok ) and Incomplete Records. In section 3, shes hinting at cash budgets but we havnt done alot in that section since last year, so i dont know yet.

Please tell me if ye think its ok for us to just be practising manufacturing and incomplete, or if theres something else that your teacher is expecting to be on that we should be preparing for aswel

.:FuZion:.

Im not doin Q1 so I duno about that. Section 2 I would agree with Interpretation and Incompletes. I also am predicting Service But I could be wrong. We are doing every topic so we will be well prepared. For last section, Cash Budgeting yeah and mabye Overhead Analysis with the job costing in it. :cool:

ya-ba-da-ba-doo

my predictions are as follows......


Q1 manufacturing

Q2,3,4 depreciation farm and tabular accounts

Q5 ratios

Q6,7 service firm and incomplete records

Q8 job costing

Q9 cash budgeting


they might throw in a pulished account or a cash flow somewhere but id say i got most of em!

u2livecd

http://www.leavingcertaccounting.com/2009examtips.html

SligoBrewer

u2livecd wrote: »

http://www.leavingcertaccounting.com/2009examtips.html

He can't even spell.

Plus how does he know whats coming up?
He knows about as much as everyone else bar the guy who sets the paper.
He also was on here last year gloating about how he predicted the cash flow in question 6.
I'm now looking at your low post count and going hmmmmmmmmm, suspicious.

SligoBrewer

Here are my predictions from before.


I also think that it's vital that any student who who actually works from predictions to first look at this thread. It really is scary reading.

Des23

SligoBrewer wrote: »

Here are my predictions from before.


I also think that it's vital that any student who who actually works from predictions to first look at this thread. It really is scary reading.

When papers are that hard they just make the marking schemes really easy, and vice versa. The percentage of people getting A1s in Accounting actually went up last year. Not that I'm saying attempting to predict exams is right, just that whenever things do go badly in a paper the examiners usually move the goalposts a bit.

QueenOfLeon

Thanks guys ill just pray from now on ...:P and sligobrewer (hellooo fellow sligo person :cool:) when you say company is that a PLC company? and is incomplete records B the one with the trading ac 1st or the balance sheet 1st ....we didnt put names on our incomplete records :P

.:FuZion:.

Anne-Marie!! wrote: »

Thanks guys ill just pray from now on ...:P and sligobrewer (hellooo fellow sligo person :cool:) when you say company is that a PLC company? and is incomplete records B the one with the trading ac 1st or the balance sheet 1st ....we didnt put names on our incomplete records :P

As far as I know, B is the one with the Balance Sheet first. :cool:

Fince

Everyone doing Question 1's?

i didn't even consider them on the basis that:
1;some of the 60 mark questions are junior cert stuff (eg depreciation which, all going well will come up this year)

2;you avoid putting all your proverbial eggs in one proverbial basket

I may have to know how to do the final acconuts next yr for the course i wanna do but for the purpose of getting an A1(which i got in the pre) i felt it was the wrong path

Anne-Marie!! wrote: »

Im really worried that this is going to happen again with us. She has decided on certain questions that she thinks will be on, and for the next 2 months it seems these will be all we'll be doing. We've asked her to go over other areas, but she says we dont need them.

the beauty of accounting is that all u need is the past papers and the marking schemes and the teacher becomes unessential.

u can't put ALL the blame on the teacher.
if u REALLY want to do well, go over tha "other ares" yourself.

QueenOfLeon

Fince wrote: »

the beauty of accounting is that all u need is the past papers and the marking schemes and the teacher becomes unessential.

u can't put ALL the blame on the teacher.
if u REALLY want to do well, go over tha "other ares" yourself.

Ya, ill be trying to do that, its just the question 1 im worried bout, weve barely touched the company and sole traders, and i find accounting the 1 subject that is pretty hard to teach yourself in! but for the rest, hopefully ill have the time to fit in going over the extra stuff. Thanks!

Fince

Anne-Marie!! wrote: »

Ya, ill be trying to do that, its just the question 1 im worried bout, weve barely touched the company and sole traders, and i find accounting the 1 subject that is pretty hard to teach yourself in! but for the rest, hopefully ill have the time to fit in going over the extra stuff. Thanks!

would ya not consider question 2/4?
as i said depre close to guarenteed, v easy. alot of possible overlap with section 2 as well.

side note- have ye covered costing and budgeting?

QueenOfLeon

Fince wrote: »

would ya not consider question 2/4?
as i said depre close to guarenteed, v easy. alot of possible overlap with section 2 as well.

side note- have ye covered costing and budgeting?

The Q8 and 9? We did some in 5th year, i think weve done all the budgeting except flexible budgets, and all the costing except absorption costing. Im really not sure tho, we probably have to finish up some of those! No predictions from the teacher on that section yet, hopefully well be covering it all!

Fince

Anne-Marie!! wrote: »

The Q8 and 9? We did some in 5th year, i think weve done all the budgeting except flexible budgets, and all the costing except absorption costing. Im really not sure tho, we probably have to finish up some of those! No predictions from the teacher on that section yet, hopefully well be covering it all!

we just did costing, and just enough so that we could do it in the pres. Budgeting is fairly easy is it?

QueenOfLeon

Fince wrote: »

we just did costing, and just enough so that we could do it in the pres. Budgeting is fairly easy is it?

Yup, think im gunna stick with the budgeting for the exam...was just looking through the papers, it has to be either flexible, product or cash, so once we do flexible at least that section will be sorted!

Paddy001

SligoBrewer wrote: »

He can't even spell.

Plus how does he know whats coming up?
He knows about as much as everyone else bar the guy who sets the paper.
He also was on here last year gloating about how he predicted the cash flow in question 6.
I'm now looking at your low post count and going hmmmmmmmmm, suspicious.

He also got the day wrong, I'm 99% sure accounting is on the Monday, too lazy to go and check though

QueenOfLeon

Paddy001 wrote: »

He also got the day wrong, I'm 99% sure accounting is on the Monday, too lazy to go and check though

Yup, accountings on monday

Fince

Anne-Marie!! wrote: »

Yup, accountings on monday

what a way to start a week. wooo accounting rules (seriously)

QueenOfLeon

Fince wrote: »

what a way to start a week. wooo accounting rules (seriously)

Haha ya its a nice change...different to all the other subjects i do and pretty handy for points...hopefully...as long as the right stuff comes up!

Fince

Anne-Marie!! wrote: »

Haha ya its a nice change...different to all the other subjects i do

wat're the other subjects?

wexhurdler

Hey am i'm so 100% sure that for Q1 if manufacturing acounts do not come up then Company final accounts..

For section 2 obviously enough Ratio analysis will come up:D

and then Incomplete records, balance sheet method and perhaps published accounts.. maybe possibly... tabs?? who knows but know incomplete and published

then section 3 is the problem... your guess is as good as mine:D but..... ideally.. in an ideal world we will see job costing and cash budgeting but I'd defo prepare product costing and flexible budgeting..

listen dont worry and keep doing these questions from past papers and you really will fly nd dont forget the clock..... Know how much time you have for each question and do not go over!:cool:

Good luck

QueenOfLeon

Thanks a million wexhurdler! If all those come up i should be sorted
And good luck to you too

gemxpink

Sorry this is a bit late but my accounting teacher thinks that Sole trader accounts will come up as its unexpected (he's generally right with predictions, one or two off). Might be worth fully knowing your stuff.

andyman

gemxpink wrote: »

Sorry this is a bit late but my accounting teacher thinks that Sole trader accounts will come up as its unexpected (he's generally right with predictions, one or two off). Might be worth fully knowing your stuff.

Sincerely doubt that. The only question that's repeated itself since this course began has been Question 5. There was outcry over the paper last year and the last thing the education system needs is a bashing twice in a row in the same subject.

My predictions:

Question 1: Manufacturing Accounts

Question 5: Interpretation of Accounts

Question 6/7: Incomplete Records (BS Method)/Service Firms

Question 8: Job Costing

Question 9: Flexible Budgeting

I'll also be learning Limited Company Accounts, Published Accounts, Tab Statements and Cash Budgeting.

Fince

gemxpink wrote: »

he's generally right with predictions

What else does (s)he think is coming up?

Paddy001

andyman wrote: »

Sincerely doubt that. The only question that's repeated itself since this course began has been Question 5. There was outcry over the paper last year and the last thing the education system needs is a bashing twice in a row in the same subject.

Only reason Q5 repeats is because it is answered badly... Sole trader could appear again, nobody expected it so didn't study it so it was probably poorly answered overall

gemxpink

Fince wrote: »

What else does (s)he think is coming up?

He pays attention to trends, like the 2008, 2006, 2003 and 1999 papers are identical almost, its a 2 year, 3 year and 4 year gap.
If you find the trend you're sorted.
2007 is so similar to 2004 and 2000 and if you're following the trends I'd say that since the 3 year gap was in 03 and 06 then it was 2 years from 06 to 08 that the 2009 paper will be similar to the 07 (2 year gap), 04 (3 year gap), 00 paper (4 year gap).

1. Sole Trader Account (However I feel Company Final Accounts will appear)
2. Incomplete records
3. Revaluation Fixed Assets
4. Debtors Control Account
5. Costing and Stock
6. Tabular
7. Service Firm Account
8. Club Accounts
9. Cash Budgeting

Fince

control accounts are after coming up the last 2 yrs in a row do, so i doubt they'll come up again.

i presume the omission of interpretation/ratios question is on purpose? it would be a fairly bold move to predict this to be the first year it doesn't come up.

Prowetod

Does anyone know if a new person made the paper for this year? As in not C. Tyr.

Fince

wasn't there a new person made it last year?

Paddy001

Fince wrote: »

wasn't there a new person made it last year?

Yes. DOn't think it can be too severe after that though

aine-maire

gemxpink wrote: »

He pays attention to trends, like the 2008, 2006, 2003 and 1999 papers are identical almost, its a 2 year, 3 year and 4 year gap.
If you find the trend you're sorted.
2007 is so similar to 2004 and 2000 and if you're following the trends I'd say that since the 3 year gap was in 03 and 06 then it was 2 years from 06 to 08 that the 2009 paper will be similar to the 07 (2 year gap), 04 (3 year gap), 00 paper (4 year gap).

1. Sole Trader Account (However I feel Company Final Accounts will appear)
2. Incomplete records
3. Revaluation Fixed Assets
4. Debtors Control Account
5. Costing and Stock
6. Tabular
7. Service Firm Account
8. Club Accounts
9. Cash Budgeting

Club accounts never come up in q.8,I'd say if you swapped them with q.5.........;)

aine-maire

gemxpink wrote: »

He pays attention to trends, like the 2008, 2006, 2003 and 1999 papers are identical almost, its a 2 year, 3 year and 4 year gap.
If you find the trend you're sorted.
2007 is so similar to 2004 and 2000 and if you're following the trends I'd say that since the 3 year gap was in 03 and 06 then it was 2 years from 06 to 08 that the 2009 paper will be similar to the 07 (2 year gap), 04 (3 year gap), 00 paper (4 year gap).

1. Sole Trader Account (However I feel Company Final Accounts will appear)
2. Incomplete records
3. Revaluation Fixed Assets
4. Debtors Control Account
5. Costing and Stock
6. Tabular
7. Service Firm Account
8. Club Accounts
9. Cash Budgeting

Club accounts are never in the 3rd section, I'd say if you swapped q.5 and q.8..............;)

Fince

plus+ ratios/interpretation are always question 5. but apart from that its pretty much a mirror of what my amateur prediction is.
doubt club acs will come up. and i'd swap depreciation for revaluation