BTC June 08 - strange answer!

katylou

Hi Can someone please help me before the BTC exam on Tues -

On June 08 Section 2 question 2.2 -

It asked you to calculate the adjusted profits, which is fine I come up with the same answer as £116626.00

But when it comes to the next question 2.3 where you are asked to calcuate the PCTCT for the first 12 months the adjusted profits change from 116626 to 116640?

Please please please can someone help me as this is not the only paper where the profits change and I must be missing some important rule where you have to add some kind of cost?! I have asked people at work and they seem to think it is a typo but it surely cant be if its appeared like this more than once?!

HELP!!! :huh:

2cool

:laugh: funny enough i mentioned this to my tutor today in a lesson and its the AAT's mistake. The answer you got in 2.2 is correct and should be carried through onto the next question. Trust me there is nothing to worry about.

CathG

Yet another mistake by the AAT - I think it's a poor show, it happens quite often. If they can't get it right (surely it's double checked before it goes out) what chance have the students got.

katylou

Thanks so much. Cant believe they've overlooked something like this. I know its not a major part in the answering but its disgraceful!

Glad I wasnt getting it wrong!

Kairi

Yes. I am 100% sure that I found 2 mistakes in the Dec 07 BTC answers as well. One was to do with capital allowances (task 2.1) - in the recommended answers the WDA for Volvo is £2000 but then in the allowances column it should be £1400 as 30% is for private use. This has not been done.
The second one is in task 2.2. The IBA is worked out on the original cost of the building when my book says it should be calculated on the residue cost of the building (cost - IBAs for the period of previous owner) which would be £56000 according to my calculations.
I am right, arent I?? Please tell me if I am not. I will otherwise be wrong in the exam.
thanks

Bluewednesday

Kairi

It's a bit of a trick question, the car is in a limited company so everyone is an employee. For limited companies there is no private usage calculation required - it's only required for sole traders.

So they are right not to put in the private usage

Kairi

ahh thank you for that. I will have to amend my notes but it is not yet too late!!!! :001_smile:

richards0l0

Its a joke, there shouldn't be any errors what so ever and if one is found it should be sorted straight away!! shocking

Staffz

I spent hours last night looking at the June paper, finding a total of 3 mistakes:

1.3 - where do they get trading profits of 58028, when they clearley state 58060 in point 1 of section 1 data??? Funny how it gives them a nice round figure like 49261-17261 in the other years profit less allowance calculation.

Then in the 2nd section of the same paper, in their answers, the adjuste profits go from 116,626 & 29,156 as the correct answer for 2.2 to starting 2.3 with the trading profits as 116,640 & 29,160!!!

Had I have spent less time looking how I went wrong or what I missed while practising, before finally ringing my tutor to find out I wasn't, I feel I would have got more done. Makes you wonder what answers the markers were provided with???

cs_1988

The markers would realise........I hope!

Staffz

I hope too, but between that and some of the info and mistakes in the Kaplan books we ordered I am less than impressed with what is published before checking - our tutor has refused to use them in future years and is making a complaint! Great after forking out well over £100!