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HL Accounting....

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    #182
    ya-ba-da-ba-doo
    Closed Accounts Posts: 884 ✭✭✭ya-ba-da-ba-doo


    Du wrote: »
    when do solutions come out for papers anyway?

    They have to set the marking scheme first so probably not for a while


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    #183
    Fince
    Registered Users Posts: 412 ✭✭Fince


    what did people say for the theory questions?

    Farm a/c- what account is affected by the stuff used by the family?

    Published- three items from the directors report
    what is an exceptional item and give an example

    Incomplete- advice

    Job costing- step fixed cost? and example?
    difference in focus between Finanacial and Mgmt a/c


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    #184
    Paddy001
    Registered Users Posts: 724 ✭✭✭Paddy001


    Fince wrote: »
    what did people say for the theory questions?

    Farm a/c- what account is affected by the stuff used by the family?

    Published- three items from the directors report
    what is an exceptional item and give an example

    Incomplete- advice

    Job costing- step fixed cost? and example?
    difference in focus between Finanacial and Mgmt a/c

    Oh FFS thanks for that! Just realised I never answered the theory on published as I was rushing to finish the budget! Would have got a few marks too, an exceptional item is outside of normal business eg. would have been the sale of the land. Directors report - could bluff that, dividents loan etc.!


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    #185
    ya-ba-da-ba-doo
    Closed Accounts Posts: 884 ✭✭✭ya-ba-da-ba-doo


    For job costing i made up part d. For farm i said it affects the balance sheet. Didnt do the theory in incomplete and didnt do part B or C on the ratios question! Oh well! :)


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    #186
    marshmallow
    Registered Users Posts: 936 ✭✭✭marshmallow


    Fince wrote: »
    what did people say for the theory questions?

    Published- three items from the directors report
    list of subsidary companies
    review on recent developments
    plans for future developments
    Fince wrote: »
    what is an exceptional item and give an example
    a material item of significant size which must be shown separately on the front of the P&L ac. eg p/l on sale of land
    Fince wrote: »
    Incomplete- advice
    to keep full set of accounts ie cash book & ledgers in order to find goodwill, trial balance figures etc and not to rely on estimates
    Fince wrote: »
    Job costing- step fixed cost? and example?
    not sure of proper definition. eg rent as it is a fixed cost then additional premises moves the fixed cost up a step
    Fince wrote: »
    difference in focus between Finanacial and Mgmt a/c

    Management - deals with diff parts of the firm, reports finanacial statements frequently
    Financial - deals with the firm as a whole, reports annually


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    #187
    Fince
    Registered Users Posts: 412 ✭✭Fince


    ya-ba-da-ba-doo wrote: »
    For farm i said it affects the balance sheet. :)

    i thought that by account they meant a more specific account, e.g. sales (thats what i said, made up a pretty bad reason).


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    #188
    Fince
    Registered Users Posts: 412 ✭✭Fince


    marshmallow wrote: »
    list of subsidary companies
    review on recent developments
    plans for future developments


    a material item of significant size which must be shown separately on the front of the P&L ac. eg p/l on sale of land


    to keep full set of accounts ie cash book & ledgers in order to find goodwill, trial balance figures etc and not to rely on estimates


    not sure of proper definition. eg rent as it is a fixed cost then additional premises moves the fixed cost up a step



    Management - deals with diff parts of the firm, reports finanacial statements frequently
    Financial - deals with the firm as a whole, reports annually

    i said for: directors report-1 future plans for capital expenditure
    2 directors shareholdings and dealings in shares during the year
    3 recommendation for dividends.

    said the same as you for the exceptional item and incomplete advice

    i guessed rent for the step up fixed cost, but my thinking was that if the people who owned the building decided to put up the rent, it would go up straight away (didn't write that down)

    Mgmt a/c- give detailed view of diff parts of the company
    - for internal use e.g. sales manager

    Financial a/c- overview of company
    -external use e.g revenue commissioners


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