Accounting Predictions

grrrrrrrrrr

Mine are Company
Suspense
Ratio
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????
????
????
????
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????
????

Dono after that

MarkDurc

Q1.Company
Q2.Debtors
Q3.Depreciation
Q4.Cash Flow
Q5.Ratios
Q6.Service
Q7.Suspense
Q8.Marginal
Q9.Flexible with Absorption/Stock Valuation

open to debate due to all the surprises seen in a lot of papers, could well break pattern this year in many of them questions. Suspense could appear as a 60 mark as could service. Club could be a 100 marker, Hard to know what q1 might be( Im not doing it) Could see Cash Budget again in q8 or 9. But thats my prediction above anyway

Vurnon San Benito

Club will appear, better do anyway!

JellyBeans92

I'd say they will difinitely put one or the other of Club or Service as a 100marker on this year's paper.

I'd also say they prob will combine flexible with something in the Section3 because there seems to be an opinion that it's too easy and thats why it hasn't been up on it's own in about 4-5 years?!
Would LOVE if it was up on it's own though?

Intrepetation is guarenteed right?.

Then I'd say they will either put on Correction of Errors, Incomplete Records or Tabulars, with Corrections most and Tabs least likely.

My two cents on the matter?

J.D.R

Section 1 - Company
Section 2 - Ratio, club,suspense
Section 3 - Budgeting, Costing

Why are people saying Service firms? Would have thought if CLub don't come up, then it would be Cash flow


But, I have a very bad feeling about this. I have the worst feeling in the world that Ratios won't be there. I better be wrong.

UndertheMatt

Is interpretation of accounts not a guaranteed question?

Q1 - Sole Trader/Company

Section 2
-Interpretation of accounts
-Club/Service
-Suspense/Cash Flow

Section 3
-Marginal & Flexible together.
- Budgeting??!

Grace16

Well i'm completely messed up for this exam if depreciation/debtors or creditors/service or club don't come up. I haven't had a great teacher and so these are mostly all i can guess.....lets hope haha!!!

Princess3

1. Company A/C

5. Ratios
6. Club Account
7. Suspense

8/9. Marginal Costing / Flexible Budgeting

Ashashi

Princess3 wrote: »

1. Company A/C

5. Ratios
6. Club Account
7. Suspense

8/9. Marginal Costing / Flexible Budgeting

And that would be my dream paper.

Princess3

Ashashi wrote: »

And that would be my dream paper.

Same! If it's any different to that i'm screwed

SantryRed

I've studied:

Q1 Company, Sole Trader

Q5,6,7 Ratios, Club/Service Accounts, Cash Flow Forecast, Suspense

Q9 Production and Flexible Budgeting

Should be covered with that shouldn't I?

EuropeanSon

SantryRed wrote: »

I've studied:

Q1 Company, Sole Trader

Q5,6,7 Ratios, Club/Service Accounts, Cash Flow Forecast, Suspense

Q9 Production and Flexible Budgeting

Should be covered with that shouldn't I?

Almost definitely for 1 and 2. I'd suggest you look at Marginal Costing for section 3, as they might mix it in with Q9.

Vurnon San Benito

As long as a nice Company account comes up, and a similar club account to previous years, I'll be dancing away in my seat. Get the club account right if 100 marker and get the majority of the company account out say 95 marks out of 120 then you're basically on 50% already. And if you have your interpretation well known then there's no excuse for not getting close to full marks or 80% anyway.
Meaning, if you attempt the last question and have a decent idea on it, then you'll have done very well in the exam.

...........I am a optimist yes.

kev9100

If club or service firms don't come up, I am well and truly ****ed. Then again, if club or service firms do come up I will hug my examiner.

Vurnon San Benito

kev9100 wrote: »

If club or service firms don't come up, I am well and truly ****ed. Then again, if club or service firms do come up I will hug my examiner.

Service Firms are quite difficult I think and don't know them at all, so I'm basically chancing it on a Club Account. Bad idea I suppose but sure we'll see

kev9100

Doocey wrote: »

Service Firms are quite difficult I think and don't know them at all, so I'm basically chancing it on a Club Account. Bad idea I suppose but sure we'll see

Really? Club and service firms are very similar. Off the top of my head, I can't think of any major differences between them.

Vurnon San Benito

kev9100 wrote: »

Really? Club and service firms are very similar. Off the top of my head, I can't think of any major differences between them.

I think there's more notes in the Service Firm and is there something about finding the Goodwill at the start?

spudington16

Boland.

kev9100

Doocey wrote: »

I think there's more notes in the Service Firm and is there something about finding the Goodwill at the start?

There is a few more alright and I think that Goodwill thing is Incomplete Records.

Vurnon San Benito

kev9100 wrote: »

There is a few more alright and I think that Goodwill thing is Incomplete Records.

Tells you how much I know then!

Please Please Please bring a club account!

kev9100

spudington16 wrote: »

Boland.

Altough the Boland pick was wrong, the other three predicted poets did come up:P.

JellyBeans92

kev9100 wrote: »

Really? Club and service firms are very similar. Off the top of my head, I can't think of any major differences between them.

Well in Clubs you have: Accumulated Fund, Income & Expenditure, Bar Trading etc.
whereas in Service you have: Statement of Capital and Reserves (looks like Acc Fund), Profit and Loss (looks like I&E), possible Shop Trad&P&L etc.

They both have a balance sheet and the adjustments are slightly different, service is more like question 1 than clubs.

Hope this helps?.

Acc Rex

Question..what is the criteria for Section 3? can any budget that usually comes up in q9 come up in q8? and can costing come up in q9?

anyone know how much they could alter qs like suspense, club, debtors control etc? they're bound to make most questions different to normal.

ThePower180

I am screwed for this exam, I doubt I'l even pass it!..

Im going to look at Company Ac's, Ratio's, Club/Service, Marginal Costing and Flexible Budget...hopefully if I go over them well before the exam it will be enough to pass!..

jellybaby1992

Doocey wrote: »

Service Firms are quite difficult I think and don't know them at all, so I'm basically chancing it on a Club Account. Bad idea I suppose but sure we'll see

If you are having difficultly you should try studyhub on eircom, the teacher goes through a sample question and does out working, and shows you how to approach the question. found it really helped for Q1.

Vurnon San Benito

jellybaby1992 wrote: »

If you are having difficultly you should try studyhub on eircom, the teacher goes through a sample question and does out working, and shows you how to approach the question. found it really helped for Q1.

I'd love to but I can't seem to access StudyHub.
I have 1mg broadband but that doesn't seem enough.

Do ye reckon Q1, providing it's a company account, will have the fire, or destroyed stock note?
Hope to f**k it doesn't!

Eire-Dearg

I'll be alright for the actual accounting part of it, but what do people know of the theory parts? Does anyone actually learn them or is it just guesswork?

SantryRed

I just learn the answers from past theory qs. Nothing much else you can do tbh! Have no enthusiasm at all to study today. Still have to study ratios too!

Sophia91

They def cant ask 2 cash budgets can they?? Like if I dont do them at all but do everything else will I 100% be grand (looking 4 a B or A so I realy cant take chances!!! Thanks!!

JellyBeans92

Sophia91 wrote: »

They def cant ask 2 cash budgets can they?? Like if I dont do them at all but do everything else will I 100% be grand (looking 4 a B or A so I realy cant take chances!!! Thanks!!

I'm thinking you're answering your own question there you "realy cant take chances!!!"
Since you're looking for a B or an A I'd say it would be silly to leave out any of the budgeting questions.. since they are worth 20% of the paper like, if it was to come up tomorrow and you didn't know it: instant "BYE BYE A GRADE"

Personally, if I get a C in accounting tomorrow, I will be fricking delighted!?

Cian92

Sophia91 wrote: »

They def cant ask 2 cash budgets can they?? Like if I dont do them at all but do everything else will I 100% be grand (looking 4 a B or A so I realy cant take chances!!! Thanks!!

I'd know the all the 80 markers inside out, it is probarly where they will throw in a trick. Take the risks elsewhere in the paper.

Stryderman

I haven't studied accounting for months but I know club accounts, service accounts, production budgeting, flexible budgeting and marginal costing fairly well I hope.
I'm planning on learning cash flow statements, debtor control accounts, depreciation accounts and the ratios question all before tomorrow (and maybe tabular statements if I've time)

If I get all these done should I be covered? I'm not doing question 1 btw.

Princess3

ThePower180 wrote: »

I am screwed for this exam, I doubt I'l even pass it!..

Im going to look at Company Ac's, Ratio's, Club/Service, Marginal Costing and Flexible Budget...hopefully if I go over them well before the exam it will be enough to pass!..

Same here, i'm useless at Accounting! Hope those questions come up!

Cormac2791

I'm also done in accounting. Doesn't help with physics demarra!

JoeyBuddy

Princess3 wrote: »

Same here, i'm useless at Accounting! Hope those questions come up!

I'm learning them too, plus Suspense (Poorly).
I'll take my chances.
Worst case scenario: A C3 I'd say.

ThePower180

Princess3 wrote: »

Same here, i'm useless at Accounting! Hope those questions come up!

I would love a D3!..

I can kind of understand most of the stuff but I just find the subject so boring and a bit repetitive and then I just can't be bothered to do questions and revise stuff. It would be my least favorite subject so I just neglect it really!...

Princess3

Same! I'm just hoping I at least pass the exam!
If i fail, i've no problem counting my other 6 subjects for points and i have LCVP too.

Sophia91

Any1 think farm 100 or the incomplete account that hasnt cum up yet (I think its incomplete 3?) have much chance of coming up??

grrrrrrrrrr

What do people think will come up in section 3?

Say a) marginal
b) flexible
c) Producton

Would one be covered if they did this or what else would one be recommended doing?!?!?

kev9100

grrrrrrrrrr wrote: »

What do people think will come up in section 3?

Say a) marginal
b) flexible
c) Producton

Would one be covered if they did this or what else would one be recommended doing?!?!?

I think thats enough, its all I'm doing anyway. Then again, I am taking a lot of risks in this exam.

Stryderman

Is there much chance of cash budgeting, job costing or any of the absorbtion stuff coming up? I dont have a clue how to do them

JoeyBuddy

I think the majority of the Accounting students are in the same boat, taking a risk that is.
If something unexpected comes up, keep in mind that nearly everyone else will be freaking out too.

Tony1130

Q1-Company
Q5-Ratios ( probably about a loan but i hope not )
Q6/7-Club/service/tabular/suspense/cashflow
Q9-Flexible ( please god ) or maybe production if the person who made up the exam is harsh

of tht im gonna study:
Tonight:
-Company ( but briefly look over sole and manufacturing cos the notes might make an appearance)
-Flexible & production budget
-club/service

Tomorrow morning:
-Ratios ( cos i will just forget the ratios by the morning )
-Cashflow in a decent amount of detail
-Tabular until 1 . 30 then ill leave so i guess tabular will be least amount

Eire-Dearg

What should I learn for Section III tomorrow?

Sophia91

Do we need to know farm 100??

its_phil

hey can can anyone gimme a hand with the end of the cash flow statement.i have no problem until after i get the increase/decrease of cash.after that i am baffled as to what is going on with the change in net debt etc.

help would be appreciated!

MarieC18

What the hell is production budgeting?! our teacher just did flexible and normal budgeting with us! no costing at all so if those budgets dont come up im screwed!!

EuropeanSon

MarieC18 wrote: »

What the hell is production budgeting?! our teacher just did flexible and normal budgeting with us! no costing at all so if those budgets dont come up im screwed!!

Production budgeting is normal budgeting.

MarieC18

Thank god!

CosmicLove

My predictions are;
Section 1 - control(hopefully dr), depreciation, cashflowORclub/service
Section 2 - ratios:loan, suspense, cash flowORclub/service
Section 3- Marginal costing (with bep or flexible), flexible budgeting &/or normal budgeting.

Although I've prepared these topics, am gonna spend another 4-6 hours before the exam studying them again, I'm currently sitting here thinking I am so ****ed it's ridiculous.
Anyone else share that feeling?

EuropeanSon

MarieC18 wrote: »

Thank god!

I know I'm great and all, but I ain't god. :P