Pev
Comments
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Take 2.2 (I think)
With regard to the machine selection, and the drafting of the net assets schedule, did anyone else include the cost of the machinery less the depreciation in their net assets calculation? For me, this meant machine2 gave a lower ROCE. I then recommended machine1 one the basis that it gave a better return on each unit of shareholders investment...
Anyone else do something similar?0 -
With regard to the machine selection, and the drafting of the net assets schedule, did anyone else include the cost of the machinery less the depreciation in their net assets calculation? For me, this meant machine2 gave a lower ROCE. I then recommended machine1 one the basis that it gave a better return on each unit of shareholders investment...
Anyone else do something similar?
I did the same as you Simon0 -
Pev
I thought that paper was really hard.......I spent 2 hours 15 minutes on Section 1, I did not like the layout at all :confused1: I managed to balance the variances and I rang my tutor when I came back and he confirmed my calculations for the index's - that was just pure guess work. The cost card I arrived at £33 but there are so many varying answers on here I am really not sure now. I came out of the exam with only 1 minute left.
DFS tomorrow and PCR on Thursday - I hope these have been written by a different person:001_unsure:
Jackie0 -
I thought the paper was tough, we had rushed the end of the course due to the tutor being off ill and we weren't au fait with everything.
As Peugeot says," It's over and done with now and we can't alter anything" so lets stop worrying and get on with life. If I have to sit again then I will, c'est la vie!
Regards
Totally p'd off Pete0 -
Dont worry about it, from intermediate the amount of people I have seen who are convinced they failed then returning to say they passed, so dont get yourself down.
I took PEV today, and I think I did OK. Yes, it was a horrible paper, but I got £386400. Variance- £5000 Actual cost £391400. Then £33 for cost card, I didnt include the price of the acquisitions in Net Assets, but rather annoyingly, for the asset turnover calculation i did net assets/ turnover rather than turnover/ net assets :confused1:, i realised when revising DFS last night, it is annoying, but what can i do. i hope that wont constitute a fail0 -
What did anyone use for the absorption rate in section 1?
Fixed overhead capacity variance?
I think i got 6000 but probably wrong..0 -
Costcard
Can someone please tell me how they arrived at the figure for te tea bags 0.006 on our paper it was 0.6......... so the people that I spoke to had cost cards up inthe 600's :thumbdown:0 -
yeah the figure in the paper was 0.6 pence per pag, x 1000 = 600p which is £6
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hi
I did it wrong aswell because it came up to £600 just for bags (too expensive).This was very tricky and I thought of it but you know when you have so many things in your mind you forget to do it .in paper was 0.6 pence and we did 1000 bags x 0.6 = £ 600
instead of 1000 bags x 0.06 (because 0.6 is 60 pence and 0.06 is 6 pence) = £60
so they confused me for sure.0 -
I'm so so worried I failed, didn't get the cost card right or the reconciliation.. but think I got everything else right... it was horrid! Do you think I will be ok?0
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the problem is that when you are in the exam you dont think straight you try to be clever and end up so stupid (I dont mean to ofend anybody) I am saying it for myself .
geting confused with nothing 6 pence !!!!????0 -
I did the same thing for the net assets calculation, I revised the total with the NBV of the machines then added the revised profit. I recommended machine 1 as the ROCE was better, although it took 10 operators to run. Hopefully i'll get marks for trying :confused1:0
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Yes, I did the same0
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Pev
Think everyone really cheesed off with AAT, the paper was tricky to say the very least, the first question through me and ended up spending far too long on it. I had £87 for cost card!!! prob cos I had £60 for teabags. Managed to get the index numbers after jiggling figures to give what looked reasonable. Didnt include the cost of the machines in the second section and forgot to multiply the depreciation figures by 8!! recommended machine 2 cos of higher ROCE but dont know if this will be right now. Just have to wait until February and hope AAT dont do nasty things to us on Thursday with PCR. :thumbdown:0 -
yes so did I0
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i mean i added the machines nbv to the revised net profit to get net assets.
also- got discounted cashflow completely wrong.
i hate this unit, the most depressing thing is that i will have to retake
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Yes I agree, everyone seems to have really struggled with it, well at least one part or another! I truly looked at the paper and wanted to cry yesterday, as it seemed all my hard work had been wasted as it hadn't asked most of what I'd revised!
I really felt like I didn't have a clue when I was doing it!
My std cost and actual cost didnt balance, as a figure I had originally I had stupidly changed! Which threw it all out and I just couldn't get my head round it in there, then as soon as I came out, I knew exactly where I'd gone wrong!! How very annoying.
Most people on here are feeling the same as I am, so maybe I didn't do as badly as I thought?? I did chose machine 1 for Section 2 and think Jan 08 price for 1.3 was £5.20, which I've seen someone else has got! Fingers crossed I have done enough!0 -
I got £5.20 to, a group of us spent hours revising performance indicators and they hardly asked us any, and the variances in section 1 were awful, got my standard and actual costs to balance though. The amount of writing was much more than on any other past papers, infact yesterdays paper was nothing like any of the past papers at all.0
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Yes I agree, everyone seems to have really struggled with it, well at least one part or another! I truly looked at the paper and wanted to cry yesterday, as it seemed all my hard work had been wasted as it hadn't asked most of what I'd revised!
I really felt like I didn't have a clue when I was doing it!
My std cost and actual cost didnt balance, as a figure I had originally I had stupidly changed! Which threw it all out and I just couldn't get my head round it in there, then as soon as I came out, I knew exactly where I'd gone wrong!! How very annoying.
Most people on here are feeling the same as I am, so maybe I didn't do as badly as I thought?? I did chose machine 1 for Section 2 and think Jan 08 price for 1.3 was £5.20, which I've seen someone else has got! Fingers crossed I have done enough!
Hi, So did I Chose machine 1 aswell, coz i worked out that woz going to generate more profit than other, also the price I got for 1.3 jan 08 was £5.20 aswell.
But 1 thing i realised from section 1 just now i forgot to do the new cost card for 1000 teabags, looked at but 4got, will that ruin my chances of passing Section 1 anyone?:huh:0 -
Think everyone really cheesed off with AAT, the paper was tricky to say the very least, the first question through me and ended up spending far too long on it. I had £87 for cost card!!! prob cos I had £60 for teabags. Managed to get the index numbers after jiggling figures to give what looked reasonable. Didnt include the cost of the machines in the second section and forgot to multiply the depreciation figures by 8!! recommended machine 2 cos of higher ROCE but dont know if this will be right now. Just have to wait until February and hope AAT dont do nasty things to us on Thursday with PCR. :thumbdown:
Hi, i had £87 for cost card too. I have recommended machine2 because on a long term decision, costs will be higher on maintaining machine 1 then machine 20 -
yellow_harley wrote: »Dont worry about it, from intermediate the amount of people I have seen who are convinced they failed then returning to say they passed, so dont get yourself down.
I took PEV today, and I think I did OK. Yes, it was a horrible paper, but I got £386400. Variance- £5000 Actual cost £391400. Then £33 for cost card, I didnt include the price of the acquisitions in Net Assets, but rather annoyingly, for the asset turnover calculation i did net assets/ turnover rather than turnover/ net assets :confused1:, i realised when revising DFS last night, it is annoying, but what can i do. i hope that wont constitute a fail
Hi Yellow_Harvey I got the same as you, I did think it was different but I also think I may have scraped through we'll soon see soon!!!0 -
Pev!
I have been reading all the posts since the exam and feel better because everyone seems to be in the same situation but worse because I now know where I went wrong!!
Section 1 - I'm Fairly ok with the majority of this although I didn't do anything with the stock because I was unsure. My operating statement reconciled. Think i only got 2 variances wrong because I should've considered the stock.
Managed ok on the Index thing
Completly mucked up the cost card. Think i only got the Fixed overhead bit right. I did the £60 thing!!!
RE the machines section 2. No one has mentioned the differences. When i recalculated everything there was VERY little difference in Gross/Net profit. Did anyone else find that? However i recommended Machine 2 based on the fact the Net profit was very slightly higher and the admin costs would be less over time.
I did not add the purchase of the machine into my assets as the question read to me that we were not to do that?
To summarise the things i know i got wrong
2 x variances
2 areas on the cost card
Asset Turnover (did it the wrong way round for some strange reason!)
The Machine thing - no idea wheter right or wrong as there seems to be so many variances to the answer on here!!
Can't remember if there was anything else on the paper other than the memos?
Do you think this would consitute a fail?
I, like the majority, put in 100% revision and felt as confident as i possibly could. I knew all the variances well and knew the ratios etc. I could not have done any more and feel very disheartened RE the quality of the questions and the Quantity in the paper. I'd done 6 years worth (12) past papers and been ok!!!
Anyway.......rant over......Fingers crossed AAT will take everything into consideration. Que Sera Sera. :001_smile:0 -
I have been reading all the posts since the exam and feel better because everyone seems to be in the same situation but worse because I now know where I went wrong!!
Section 1 - I'm Fairly ok with the majority of this although I didn't do anything with the stock because I was unsure. My operating statement reconciled. Think i only got 2 variances wrong because I should've considered the stock.
Managed ok on the Index thing
Completly mucked up the cost card. Think i only got the Fixed overhead bit right. I did the £60 thing!!!
RE the machines section 2. No one has mentioned the differences. When i recalculated everything there was VERY little difference in Gross/Net profit. Did anyone else find that? However i recommended Machine 2 based on the fact the Net profit was very slightly higher and the admin costs would be less over time.
I did not add the purchase of the machine into my assets as the question read to me that we were not to do that?
To summarise the things i know i got wrong
2 x variances
2 areas on the cost card
Asset Turnover (did it the wrong way round for some strange reason!)
The Machine thing - no idea wheter right or wrong as there seems to be so many variances to the answer on here!!
Can't remember if there was anything else on the paper other than the memos?
Do you think this would consitute a fail?
I, like the majority, put in 100% revision and felt as confident as i possibly could. I knew all the variances well and knew the ratios etc. I could not have done any more and feel very disheartened RE the quality of the questions and the Quantity in the paper. I'd done 6 years worth (12) past papers and been ok!!!
Anyway.......rant over......Fingers crossed AAT will take everything into consideration. Que Sera Sera. :001_smile:
Yeah I had differences of around 1% on each of the ratios but Net profit and ROCE were slightly higher for machine 2.0 -
Good Stuff....think i may be ok on this one then. I had the Gross profit slightly higher on Machine 1 and the Net Profit and ROCE slighley higher for Machine 2.
Thanks.0 -
Good Stuff....think i may be ok on this one then. I had the Gross profit slightly higher on Machine 1 and the Net Profit and ROCE slighley higher for Machine 2.
Thanks.
I had the same, machine 1 was better for gross profit margin and 2 was better with net profit margin and ROCE.
The difference was very marginal for both +-£3000 at most.
Therefore for a recommendation i went for 1 based on the info in the question. In a poor harvest they could reduce the labour force. If labour was replaced with the pickmaster2, they could not simply sack the machinery... they had to continue depreciating it. I also mentioned that the cost of financing the purchase (interest on a loan etc) was likely to be greater then the additional profit it brought in.0 -
Dirty rotten advice
My tutor told me to concentrate on the 2 previousm past papers as she was tipped off that it would be similar as the examiner was the same I sat a mock exam the week before the real PEV exam and got 115/5 out of 126 marks a clear pass. This put me at ease and then I get this exam section one could not have been any different in format and I spent most of the time on it that I never even completed section 2. FAIL0
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