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Comments

  • #32
    Fifii
    Registered Users, Registered Users 2 Posts: 73 ✭✭Fifii


    LaLeche wrote: »
    A note of advice, the examiner will bend you over with a rusty spork if you try to do the club accounts using business account templates and headings, also don't piss of the examiner by doing all the section i and 2 questions. Thats an ordinary level move...
    What do you mean by Doing all the section i and 2 questions?:)


  • #33
    Blue giant
    Registered Users, Registered Users 2 Posts: 1,336 ✭✭✭Blue giant


    JWM12 wrote: »
    My advice is don't do the day books (Q1, Paper 2). They take a while and unless you're really good at them they'll wreck your head. You do 4 of 6 I think so I'll be having a stab at some of the other ones :)

    Having done my JC last year I would strongly disagree with this advice. This question is very easy to get good marks in once you know what to do. And it really doesn't take long to do despite what you may be told. I did an extra question and still left with 25 mins left. Probably not best to try it now though if you have never "got it" .


  • #34
    LaLeche
    Registered Users, Registered Users 2 Posts: 29 ✭LaLeche


    Blue giant wrote: »
    Having done my JC last year I would strongly disagree with this advice. This question is very easy to get good marks in once you know what to do. And it really doesn't take long to do despite what you may be told. I did an extra question and still left with 25 mins left. Probably not best to try it now though if you have never "got it" .

    Agreed


  • #35
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    Is anyone else actually going to do the ledger question? :D


  • #36
    smiles_1998
    Registered Users, Registered Users 2 Posts: 336 ✭✭smiles_1998


    Liordi wrote: »
    Is anyone else actually going to do the ledger question? :D
    Me :D Our teacher is really good and explained the question sooo well! :D It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts). :D


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  • #37
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    smiles_1998 wrote: »
    Me :D Our teacher is really good and explained the question sooo well! :D It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts). :D

    Our teacher is appalling but I think I should be alright for it.


  • #38
    nanook5
    Registered Users, Registered Users 2 Posts: 927 ✭✭✭nanook5


    smiles_1998 wrote: »
    Me :D Our teacher is really good and explained the question sooo well! :D It's really handy because I have 3 of 4 questions on paper 2 next to guaranteed to come up (ledger, documents and final accounts). :D

    They are guaranteed :D 100%


  • #39
    darman124
    Registered Users, Registered Users 2 Posts: 4 ✭darman124


    how do you know which dates to put in?


  • #40
    nanook5
    Registered Users, Registered Users 2 Posts: 927 ✭✭✭nanook5


    darman124 wrote: »
    how do you know which dates to put in?

    Its usually the end and start of the month AFAIK


  • #41
    Eims14
    Registered Users, Registered Users 2 Posts: 253 ✭✭Eims14


    Yano for the q on government spent is all you have to do just fill on capital income and spending take them away from each other and then say whether its a surplus or deficit?


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  • #42
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    Eims14 wrote: »
    Yano for the q on government spent is all you have to do just fill on capital income and spending take them away from each other and then say whether its a surplus or deficit?

    Usually, yeah.


  • #43
    Eims14
    Registered Users, Registered Users 2 Posts: 253 ✭✭Eims14


    Liordi wrote: »
    Usually, yeah.

    Thanks it just seemed too easy :)


  • #44
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    Eims14 wrote: »
    Thanks it just seemed too easy :)

    It is. :D
    Theory part is the worst, imo..


  • #45
    Beca19
    Registered Users, Registered Users 2 Posts: 337 ✭✭Beca19


    Liordi wrote: »
    Is anyone else actually going to do the ledger question? :D

    Me :) I'm alright except for the general journal I forget how to do those..


  • #46
    Chloee98
    Registered Users, Registered Users 2 Posts: 27 ✭Chloee98


    Identify 2 legal requirements that must be satisfied when opening a bank account? And the definition for limited resources? :o


  • #47
    Mr Rhode Island Red
    Registered Users, Registered Users 2 Posts: 746 ✭✭✭Mr Rhode Island Red


    Liordi wrote: »
    Is anyone else actually going to do the ledger question? :D

    Yes, along with TPL, Sales documents, and then chance my arm at something else


  • #48
    Mr Rhode Island Red
    Registered Users, Registered Users 2 Posts: 746 ✭✭✭Mr Rhode Island Red


    Chloee98 wrote: »
    Identify 2 legal requirements that must be satisfied when opening a bank account? And the definition for limited resources? :o

    Proof of Identity eg. Passport
    Proof of address eg. Telephone/ESB bill

    Limited resources (presuming this is referring to the government) means that the government doesn't have enough money to pay for/buy everything they would like to, so they have to budget and allocate their money and resources to the most important departments/expenses


  • #49
    Oisin4
    Registered Users, Registered Users 2 Posts: 72 ✭✭Oisin4


    How do you calculate bad debts?


  • #50
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    Oisin4 wrote: »
    How do you calculate bad debts?

    Depends on the question.
    Typically it's just a percentage of the debt they own.
    e.g "John is bankrupt and owes Mary €10 000 and agrees to pay her .30 cent for every €1 he owes."

    10000 x .30 = €3000 (amount John paid to Mary)
    Mary has to write off a bad debt of €7000.
    i.e, the cost of the bad debt is €7000.


  • #51
    roisiny
    Registered Users, Registered Users 2 Posts: 51 ✭✭roisiny


    Ive the whole theory course covered... theres only like 7 pages of key words does that sound about right? And which accounts should I focus most on now, apart from the ledger as I'm pure brutal at that.


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  • #52
    DanielChester
    Registered Users, Registered Users 2 Posts: 53 ✭✭DanielChester


    LaLeche wrote: »
    not to be mean... but you can't learn the general and creditor ledger the night before....

    Who says? I just did bro.


  • #53
    Manutd_4life
    Closed Accounts Posts: 2,858 ✭✭✭Manutd_4life


    for receipts and payments account on club accounts is the cash from the accumulated funds the opening balance


  • #54
    Dr. Toaster
    Registered Users, Registered Users 2 Posts: 3 ✭Dr. Toaster


    Which accounts go in which record books? I mean, where does the (for example) trial balance or double-entry go? This is for higher level. A list of what goes in each would be really helpful! Thanks.


  • #55
    yvngceebs
    Registered Users, Registered Users 2 Posts: 96 ✭✭yvngceebs


    Dr. Toaster wrote: »
    Which accounts go in which record books? I mean, where does the (for example) trial balance or double-entry go? This is for higher level. A list of what goes in each would be really helpful! Thanks.

    They will include record books in the answer booklet tomorrow. At the top, it will say which accounts go where for you. :)


  • #56
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    Does anyone know if you're allowed log tables in business?


  • #57
    nanook5
    Registered Users, Registered Users 2 Posts: 927 ✭✭✭nanook5


    Manutd_4life wrote: »
    for receipts and payments account on club accounts is the cash from the accumulated funds the opening balance

    Yes it is

    I just found that out by doing a question :D


  • #58
    nanook5
    Registered Users, Registered Users 2 Posts: 927 ✭✭✭nanook5


    Liordi wrote: »
    Does anyone know if you're allowed log tables in business?

    Why do you need them ?


  • #59
    Liordi
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭Liordi


    nanook5 wrote: »
    Why do you need them ?

    Formula for compound interest is in it.
    Could be other formulas as well. :P


  • #60
    nanook5
    Registered Users, Registered Users 2 Posts: 927 ✭✭✭nanook5


    Liordi wrote: »
    Formula for compound interest is in it.
    Could be other formulas as well. :P

    That is the only one :D

    Ask your supervisor:P


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  • #61
    MangoMachine
    Registered Users, Registered Users 2 Posts: 149 ✭✭MangoMachine


    DanielChester wrote: »
    Who says? I just did bro.

    Join the crew.


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