FRA or ERC?

BinduD
BinduD Registered Posts: 6 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Hi,

I have decided to do the diploma pathway via distance learning. I am thinking of sitting just one unit in June 08 but I don't know which one is the best to do first. As I will be starting at the Advanced Certificate level and know I have to do Unit 31. Would anyone be able to tell me which is best to do first, either FRA or ERC?

Thanks
Bindu

Comments

  • pernickety
    pernickety Registered Posts: 47 Regular contributor ⭐
    FRA or ECR

    I think it is a matter of 'different strokes, for different folks'. I started with ECR in September, as that is what others on the course were continuing with - all other students there bar three of us as new starters, having done FRA in June 2007. I had never done cost accountancy before at all and found ECR hard going. However, having been involved in financial accounting for many years (albeit computerised, apart from a basic RSA done 20 years ago), I am much more comfortable with studying FRA. I would not say, for one moment I find it all easy mind, there are many elements that are taken care of for you with computerised accounting, but holding that pen and entering all in to a manual system is no easy feat. If I was you I would have a look at each of the exam papers in the student resource area. Alternatively, the quizzes/tests on the osbourne books website will test your abilities on both and maybe then give you an idea which to start with if you have the opportunity to choose. http://www.osbornebooks.co.uk/quiz/index.php
  • Miss P
    Miss P Registered Posts: 3 New contributor 🐸
    You better take the 2 of them theu are all important.

    i need help from anyone who understand the (lifo),(fifo )and (avco) on ECR
  • MOHMEDSALIM PATEL
    MOHMEDSALIM PATEL Registered Posts: 184 Dedicated contributor 🦉
    Do not woory abouut it.

    FIFO means any stock have came in to store has to be issued first whenever need to issue.

    example ; 1 JAN 2008 STOCK OF ITEM BB5 WAS 250 COST OF 1.0 = BAL 250
    5 JAN 2008 PURCHASES WAS 100 COST OF 1.10= 250 1.00
    100 1.10
    8 JAN 2008 ISSED TO PRODUCTION WAS 300

    ISSE MUST BE 250@1.00 FIRST
    REST 50@ 1.10 2ND

    IF YOU UNDERSTAND THIS THAN WILL ABLE TO EXPLAIN OTHER TWO

    SORRY IF THIS DOES NOT HELP .
  • Alicja
    Alicja Registered Posts: 8 New contributor 🐸
    Hi there,


    Can I find answears to the resources?

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