pcr june 2007 model ans changed????

alwa-37
alwa-37 Registered Posts: 38 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
pcr june 2007 task 1.1 g, has ben changed....


its quite confusin:001_unsure:

do anyone know why it has been changed?

Comments

  • nikkym
    nikkym Registered Posts: 11 New contributor 🐸
    it appears to have been changed this morning. the answers i have are the revised nov 07 set that have the stock figures in the operating statement - the ones that are causing so much confusion!!!

    it sure doesn't help at this late stage....
  • Becks2214
    Becks2214 Registered Posts: 8 New contributor 🐸
    Good Spotting? Why would the answers be changed a day before the exam??? Am sooo confused now!!
  • lorraine
    lorraine Registered Posts: 404 Dedicated contributor 🦉
    yeah, not sure really why they have changed it, so does that mean that we dont need to put in opening and closing balances?
  • Ems85
    Ems85 Registered Posts: 3 New contributor 🐸
    which way is it then - have spent ages tryin to get my head around the opening and closing stock - panicking because i couldnt do it, when now the answers i had were correct according to the new answers!! this is not helpin stress levels!!!!
  • ChloeGee
    ChloeGee Registered Posts: 23 New contributor 🐸
    I just noticed that though as I am doing some PCR revision!
    Have no idea why they have taken out the opening and closing stocks but I am SURE they do actually need to be there :001_wub:
  • Bex
    Bex Registered Posts: 33 Regular contributor ⭐
    I will be leaving them in there in the exam as well (the opening / closing stocks), especially if it quotes absorption costing or such like - closing stocks are always accounted for then if they are present.

    Bex

    xx
  • Ems85
    Ems85 Registered Posts: 3 New contributor 🐸
    why do they need to be there?? am sooo confused now, which way do i do it for tomorrow?????
  • Becks2214
    Becks2214 Registered Posts: 8 New contributor 🐸
    Exactly why would AAT remove them the day before the exam.. obv they messed up?

    Does anyone know???
  • ChloeGee
    ChloeGee Registered Posts: 23 New contributor 🐸
    Because they're part of the cost of sales. Definitely include them tomorrow.
  • Ems85
    Ems85 Registered Posts: 3 New contributor 🐸
    which way round does it go - as reading other forums there are a mixture - is it cost of production, Add opening less closing or is it cost of production less opening Add closing - this is sooo worryin me now!!
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    I am sure that I have written about the dangers of using examiner's answers on many threads before. I have no doubt I will make the same point in the future as well.

    There will be several answers that can earn full marks on the examiner's mark scheme.

    An operating statement is a clear sequence of calculations that enable you to see how much profit was made.

    So you can EITHER work out the cost of sales on an input by input basis as http://www.aat.org.uk/servlet/file/PCR_June_2007_Answers.pdf?ITEM_ENT_ID=92942&COLLSPEC_ENT_ID=34
    appears to show
    OR you can work out the cost of production and then take off any change in stock to find the cost of sales

    If I remember rightly the opening stock in this exercise could only be calculated by assuming the unit cost of production of the opening stock was the same as the unit cost in the accounting period.

    I replied to Barbara Knight in a similar vein about a month ago.

    I hope this stops a panic.

    Sandy
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • Fi21
    Fi21 Registered Posts: 19 New contributor 🐸
    Operating Statment - Section 1

    Hey - I don't know about you guys, but I'm not gona be putting closing or opening stock in cos as I understand it, they've already gone in when we did the budgets, so why put them in twice?

    Also - they've obviously changed it on the web for a reason - it's wrong!
  • fpettifer
    fpettifer Registered Posts: 40 Regular contributor ⭐
    that's twice its changed now. i 1st printed it off at the beginning of the year and was merry doing it the other week, popped on here and saw someone was asking about how they got the opening and closing figures which confused me as the answers i had didn't include this! so reprinted the answers and low and behold it has changed!!! Well how rude, then spent ages trying to figure out how they got the answers the for the luxury model!! And now its back to the original answers......!!!! :mad2:
  • Fi21
    Fi21 Registered Posts: 19 New contributor 🐸
    It's quite worrying though - don't you think?!

    I mean God only knows if the model answers for these exams are correct - if not, we're all just gona fail!
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    There are quite a few examples provided by examiners which have errors.
    I will do my answers to PEV tomorrow and PCR next Tuesday, I may have the odd error, but hopefully my proof readers will pick these up before I make them available generally.

    And however right my answers may be, the examiner might take a slightly different but also correct approach.
    We may then both be right, but there will still be students that can't accept that there is more than one correct method.
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com

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