Revision for Unit 5 Simulation

lessci Registered Posts: 180 Dedicated contributor 🦉
I've got my unit simulaion next week. Is there anything specific I should be revising?:confused1:


  • Cullen
    Cullen Registered Posts: 592 Epic contributor 🐘
    Fixed assets, updating FA register, FA audit, reccomendations for improvement to control FA. Writing journal to update ledger with FA change.

    Comparing day book entries to ledgers and making a correction for any error or omission.

    Incomplete records.

    Year end adjustments.

    Extending the TB and preparing P&L and BS

    Partnerships, appropriation account, partners current and or capital accounts.

    General questions re items not covered in exam.

    Best of luck.
  • LilCharJ
    LilCharJ Registered Posts: 2 New contributor 🐸
    also, as well as the above:
    *depreciation via fixed asset register-Journal and main ledger adjustments
    *Errors in PLCA (purchase ledger control account)-if there are correct them
    *General questions- there are 5-6 of these which need to be completed and they are q's which only need a short reply/answer. Will prob ask for example 'state four items of which are classed as fixed assets?'

    hope all goes wellll
    MOHMEDSALIM PATEL Registered Posts: 184 Dedicated contributor 🦉
    Disposal,updating fixed asset register,

    1 st disposal ansd purchse of new assest
    journal for disposal of old fixed assets and buying of new assets with disposal procceed.

    Dicrepancy within fixed assets register and list prepared by one of the staff,
    memo for any discrepancy.

    Discrepancy between PLCA and subsidury purchase ledger.

    That is all i can remember as we hava done ours long ago.
    Good luck.
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