LC HL Accounting: interpretation accounts

oneillsk

I'm revising for the leaving cert accounting exam in June.
The interpretation account is the only 100% guaranteed question on the paper however it seems to prove difficult to obtain high marks in this question even having learnt all the ratios and relevant comparacenses off by heart.
In the mock exam, most people attempted this question but no one achieve a mark of 80+
Was this just harsh marking for the mock exam or is this the general mark that people achieve in this question? Are Ye planning on attempting this question in June? I'd like to know I have a guaranteed question in the exam however if high marks are hard to achieve I may try avoid it and do another question.
I'd like to hear the opinions of others sitting the exam in June and those that have previously sat the exam.

B787RW

I'm doing the Accounting exam in June aswell, and I'm 100% sure I'm going to do the interpretation question.

As you said it's the only question you know is going to come up, so you just need to keep practicing past exam papers and make sure you understand them and you should be fine.

Once you know all of your ratios and apply them correctly, you have your 40/45 marks (varies year to year)

Then in part b.) you have to apply the ratios in part a.) and other relevant ratios for 40/45 marks. You need to write quite a lot in this part to get very high marks, about 8-10 paragraphs each under a separate heading, and try to get 6 points in each, but for market price, security etc, you can get 3 points the most.
I always do:

1. Profitability.
2. Dividend Policy.
3. Liquidity.
4. Gearing.
5. Interest Cover.
6. Sector.
7. Market Price of shares.
8. Security (of Fixed Assets).
9. Investment Policy.

Then in part c.), you just need to revise all past papers to see the type of questions asked here and learn them or apply the ratios to the question asked.

Once you know all the ratios off by heart and remember what to write about them, and you can do reasonably well in part c.) you can probably get 90/95+ marks. The only problem is it takes very long to write out all the information required, it takes me on average 50 minutes, but sometimes it can take 60 minutes, so I have to take time from another question.

robman60

I always thought I'd do this question but I didn't after receiving advice from a few teachers who really knew the score.

It's good to be able to do the question in case something completely unexpected comes up (I'd have had to do it if published or incomplete came up) otherwise it's not.

Firstly, the theory takes ages. It's very hard to do this question correctly within the allotted time and as a result you'll be rushing another question as well.

Secondly, the marking scheme is ridiculously picky. The LC is marked to a bell curve and if lots of people are doing well they tighten up the marking scheme. Where is the easiest place to cut people short? Theory. You'll get marked really harshly inevitably.

I like essay writing and analysis so I was sure I'd do this question. I knew the stuff so well for the mocks and got 50/50 on the ratios but only 34/50 on the theory for 84/100 overall. I can't stress enough how exact you have to be to get the marks in this.

I will say that it's a great question to do if you're aiming for a B2 or less. The ratios are easy marks once you've practised and understand (try to understand why they make sense, much easier to remember then) but I can almost promise you won't get over 90/100 on the question overall. So do it if you're content with a C or a B but if you're going for an A I'd strongly advise against Interpretation of Accounts.

pleindespoir

We dont do this and I asked my teacher If I could possibly study it myself and she told me it wouldnt be worth it this late because in general the marking is really harsh.

CookieMonster.x

I didn't do this question when I did my Leaving Cert (A1). There is so much involved in it and you're already under pressure for time. There's also a lot to write to get full marks if you look at the marking schemes. If you feel you know it really well and can do the questions in the time allowed, then do it. I knew the other question formats well and had a fair idea of the ratios etc but didn't plan on doing that question. Just make sure you don't leave yourself short on choice if there is something unexpected or you are short on time.

oneillsk

I can see Ye're points regarding how hard it is to achieve high marks in the question considering it near impossible to cover everything within the time restraints.

I think I'll go into the exam with the ratios covered but with the intention to do the other two question. If a cash flow, tabular and/or an incomplete record comes up I will attempt two of those rather than the ratios.
I'd like to achieve an A grade in the exam and if to achieve this I shouldn't do the interpretation accounts then I'll try avoid them.