HL Accounting....

happyhappyhappy

Anyone who did ratios??

Was the conclusion not satisfied?
Cos all my answers were lower than the previous year??

QueenOfLeon

happyhappyhappy wrote: »

Anyone who did ratios??

Was the conclusion not satisfied?
Cos all my answers were lower than the previous year??

Ya, it was all pretty negative...construction industry, and all that. Everything was gone down, so they're not satisfied with it. I was only finishing that at 5, totally forgot about the part (c), scribbled down some crap that they'd have to improve/stop paying out dividends/consider closing down....i dunno, what did ye say for that bit?

galway.gaa

Q1 was tricky but i reckon i did alrite
published a/c balanced.........good times
anyone get 41492 for the profit in the incomplete and 488220 for the purchases. im not to sure bout it
i got 27058.35 foe the sp of joc no.510

could people put up what answers they got so i we can get a better idea how we did??????????

happyhappyhappy

Anne-Marie!! wrote: »

Ya, it was all pretty negative...construction industry, and all that. Everything was gone down, so they're not satisfied with it. I was only finishing that at 5, totally forgot about the part (c), scribbled down some crap that they'd have to improve/stop paying out dividends/consider closing down....i dunno, what did ye say for that bit?

Same I said consider closing down
Try cut costs or some poo like that!

corridon69

had paper done in 2 hours savage paper:P

QueenOfLeon

galway.gaa wrote: »

could people put up what answers they got so i we can get a better idea how we did??????????

This could depress me but here goes....

1: 815,260 for cost of manufacture, 150,025 for profit and loss balance, 871,525 for capital employed

7: 571,970 for capital employed, 65,392 for net profit, 784,500 for sales.

9: 154,460 for cash budget final figure, i've written down 43,800 for the trading account bit, but i think it was a loss. Completely off, no doubt...and i just realised i tippexed out "net profit" to put in "net loss" and i never went back...meh, it was wrong anyway

TanG411

You wouldn't believe how happy I was when I got it. For the last 2 weeks, I've been praying to every God possible to have a published account and an incomplete record for section 2, simply because they're my strongest questions and I didn't have a clue on the ratios. :pac:

The cash budget looked very tricky so I did the job costing which I flew through.

The manufacturing was tricky to be honest. Got a shock when I noticed you didn't have to do anything with the ordinary and preference shares.

The incomplete record was also a bit harder than expected. With the EU grant, I hadbn't a clue what to do with it

I expect a high C :cool:

Fince

galway.gaa wrote: »

Q1 was tricky but i reckon i did alrite
published a/c balanced.........good times
anyone get 41492 for the profit in the incomplete and 488220 for the purchases. im not to sure bout it
i got 27058.35 foe the sp of joc no.510

could people put up what answers they got so i we can get a better idea how we did??????????

Tabular Statement- 1,219,450 (put i put bank in assets so its probably not gonna be the same as most peoples)

Farm a/c- General P&L bal- 34,234

Published- 1,423,800

Incomplete- Net profit 41,392
Sales 629, 400

Job costing- selling price 28,862.24

yummy91

I don't think that I could have realistically asked for a better paper!!!
:D:D:D:D:D
Easiest Ratio question ever!! YAY!! I woke up thinking that I was gonna fail and now I'm looking at a good B I think.:rolleyes:

Prowetod

7. Incomplete - Purchases figure = €513880
8. Job Costing - Selling price for Job 510 = €29332.91

Sound familiar to anyone?

wexhurdler

well this new examiner had some serious bad debt fettish:P what was up with bad debts in incomplete

overall I'm happy.. was shocked when q1 balanced.. published balanced too dunno if they were right tho:

Q1 balance sheet total : E876,135

Q6 PUBLISHED Balance sheet total: 1,423,800

Anybody else get those??

Ratios wasn't too bad - ordinary shareholders 3 years in a row

Management was nice with that job costing q:D but seriously...... that cash budgeting question:pac::pac: i wonder if anybody in the country actually did that! to quote my friend... heap of cock:P

Du

did really good, balanced the manufacture account aswel:D

part (a) of interpretation i got was:
1) €380000
2) 8.13%
3)8.6c
4)5.66%
5)17.64

in job costing i got the sales price at 28858 but that is probably wrong, anyone else?

blue-army

€15.85 - Processing cost per unit

€8.84 - Assembly


€8.34 - Finishing...


28,862.24

Anyone get any of this?

Du

blue-army wrote: »

€15.85 - Processing cost per unit

€8.84 - Assembly


€8.34 - Finishing...


28,862.24

Anyone get any of this?

got the same, just different selling price

what is a step fixed cost?

~Candy~

so


revaluation...took me half hr..did ok i think!!! but it took so long
i did tabular ...didn't work out..but sure i d get most of the mark!!
woohoo..tabular came up
farm a/c would have be grand, but i liked the other 2more


Q5...F- up the formulas ..errrr...i say i d only get 60/100 max!!!

the smart idea of leaving published a/c out made me have to do the incomplete records....and it was just a ok? alot of new stuff in the newQ
but sure just a ok!!


finally ..i i should have done that costing..but i never revised..again , i chose to leave it out!!

so i was stuck with cash budget!! lol
i was there woohoo...i was half way thu the workings realize they mixed the production..took me awhile to get my head around the Q...its grand xpt i had to do the budget and the trading profit +loss in 7min!!!!!!!
i got it done alrite but dunno if it was rite
it's impossible to get that done in 30-35min

*rant over* bye bye A..!! i am getting the B i think =(..hope for a high B otherwise i am not getting my course

aine-maire

Overall, happy

Q1: It balanced:D And I got 876,525. (could be wrong, think I might've made a mistake calculating bad debts' provision.

Q5: Totally grand, got enough points out of it anyway!

Q7: Kinda hard, got 634,500 for the sales anyway...

Q8: I started Q9, because I'm able to do production budgets and cash budgets separately but then once I started I was like, :eek:
So Q8. was grand anyway, didn't write down what I got, but blue-army, your figures look kinda familiar


So relieved:D

Du

if you use the wrong basis but its kind of similar, will the corrector let you off? Heard of that happening before if it's just one wrong

wexhurdler

aine-maire wrote: »

Overall, happy

Q1: It balanced:D And I got 876,525. (could be wrong, think I might've made a mistake calculating bad debts' provision. quote]

got 876,125:P i dunno lol:P

it balanced so we're both right:D:pac:

aine-maire

wexhurdler wrote: »

it balanced so we're both right:D:pac:

Oh phew,I'm delighted!:pac::rolleyes:

Fince

blue-army wrote: »

€15.85 - Processing cost per unit

€8.84 - Assembly


€8.34 - Finishing...


28,862.24

Anyone get any of this?

on the button

antomorro-sei

That didn't go too bad at all. I reckon I got a B anyway...

Fince

wexhurdler wrote: »

well this new examiner had some serious bad debt fettish:P what was up with bad debts in incomplete

overall I'm happy.. was shocked when q1 balanced.. published balanced too dunno if they were right tho:

Q1 balance sheet total : E876,135

Q6 PUBLISHED Balance sheet total: 1,423,800

Anybody else get those??

Ratios wasn't too bad - ordinary shareholders 3 years in a row

Management was nice with that job costing q:D but seriously...... that cash budgeting question:pac::pac: i wonder if anybody in the country actually did that! to quote my friend... heap of cock:P

got the same in published, which is a huge relief (i was out by 61000 at one stage and figured out my mistake at 4.55)

that is a legendary quote from ur friend

QueenOfLeon

wexhurdler wrote: »

Management was nice with that job costing q:D but seriously...... that cash budgeting question:pac::pac: i wonder if anybody in the country actually did that! to quote my friend... heap of cock:P

Yup, i was one of the stupid people that did it. Couldn't describe it better!! Did anyone else do it and think they used the right method? Mine was a mixture of guesswork, an attempt at common sense, and bits i knew from product budgeting, but at the same time it wasnt exactly the same as a normal product budgeting q...

~Candy~

Anne-Marie!! wrote: »

Yup, i was one of the stupid people that did it. Couldn't describe it better!! Did anyone else do it and think they used the right method? Mine was a mixture of guesswork, an attempt at common sense, and bits i knew from product budgeting, but at the same time it wasnt exactly the same as a normal product budgeting q...

I did that Q...:(


well...thats what i did anyway

whatever they gave u

+ the closing stock
10% of the 60% of the following months sales

- opening stock
(jan's closing stock = Febs opening stock etc)

errr but i had no opening stock for Jan!!

then the purchase is that by 4kg x1.5 = purchases
jan's to be paid in feb etc

and grrrrr...so confusing

WolfForager

Q1 Very very messy, should have got 80% of the marks though.

Q6 Balanced and the notes were easy!

Q7 I can usually do an incomplete it 17-20 minutes, took me the the full 45 this time and i'm pretty sure i'm wrong in a few place.

Q8 was absolutly handy!

Didn't answer any theory :pac:

ynwa_17

Predicted the entire paper, which was hard lol. Expected a few shocks but other than the paper being quite hard it was grand. Ill take a B2 in it. Cant remember any of my figure i got though.

That cash budgeting question was extremely weird, i pity anyone who did it, because the Job costing was a beautiful question bar the theory part lol

QueenOfLeon

~Candy~ wrote: »

I did that Q...:(


well...thats what i did anyway

whatever they gave u

+ the closing stock
10% of the 60% of the following months sales

- opening stock
(jan's closing stock = Febs opening stock etc)

errr but i had no opening stock for Jan!!

then the purchase is that by 4kg x1.5 = purchases
jan's to be paid in feb etc

and grrrrr...so confusing

That sounds very familiar...phew!! Ya there was no opening for Jan, it was a new business....but it was so confusing! What was your final bit like, the trading profit and loss? I added up the sales revenue from Jan-Apr, took away the cost of sales (i used the €20 given by the units), but i didnt bother seeing if there should have been a closing stock cos i was out of time...took off the expenses and ended up with a loss :(

Blondiegirl2009

I think I failed this exam. I completely froze.:( I also think Bio was quite hard..Im sick of this sh*t leaving cert.

dermo1990

Question 1 balanced. Anyone get manufacturing a/c as 815260
P + L a/c as 149365
Balance sheet 871135

Bongomc

Thought that was a decent paper tbh.

Q1. only a couple of small problems really.

Q5. very easy Q imo the whole company was ****ed so it was easy to do the analysis.

Q7. bit tricky but it was far from difficult.

Q8. only the 1st part of the theory caught me out here and the rest was easy.