PEV exam - I think i have messed up.....

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:25AM in AAT student discussion
Well I am getting the feeling that it is only me who thought that the exam was pants.... I have spent loads of time revising for this and it just makes you feel rubbish. I felt confident going into the exam, but now i'm not. I think i messed up on section 1, just have to wait for the results.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV exam - I think i have messed up.....

    :cry: No you're really not the only one... have commented elsewhere so won't repeat - If it's any help, out of 10 of us took it today at a college somewhere in Wales, 100% of us know exactly how you feel...
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV exam - I think i have messed up.....

    No everyone in our group struggled too, i just think the area's covered were unexpected.

    I know we didnt cover marginal costing thoroughly at college. I think this is partly because its covered at intermediate, but i did intermediate 3 years ago so not very fresh on it !

    I also believe that question 1 was very badly worded, they asked for an operating statement using your variances but didnt supply sales/turnover. I just did a statement of variances !

    Hopefully the fact alot of people had problems will be reflected in the marking.

    Just got to get my head around cash flows for tomorrow now !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV exam - I think i have messed up.....

    i dont think they asked you for an operating statement, they just asked you to reconcile the budget with the actual. you are right, no turnover was given so therefore it would have been impossible to provide an operating statement. A reconciliation statement, on the other hand, doesnt require turnover, just a start figure, a bit of confusion in the middle, and an end figure... the bit of confusion in the middle should add up the start figure to the end figure :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV exam - I think i have messed up.....


    Yeah I agreee.

    On other threds people have mention bringing in sales figures from other sections and dealing with massive differences which they named over absorption. I think it was just a normal reconciliation of variances and cost.

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