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Btc

cs_1988cs_1988 Well-KnownRegistered Posts: 231
Roll on 3pm so i can check my answers!!

There were only two people in my exam. She was to far away to look over her shoulder.

That was a Joke Moderator
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Comments

  • CathGCathG Well-Known Registered Posts: 145
    I think it's a resit for me in June.:crying:
  • anniegannieg Just Joined Registered Posts: 3
    Same for me too made to many mistakes
  • garry_coombsgarry_coombs Well-Known Registered Posts: 108
    I found it fairly straight forawrd, nothing that i thought "what do i do here" pretty much the paper i was hoping for.

    But I don't know if i've passed, a couple of things i need to check!

    I dont need to pass (as i shall also be doing the simulations, passed one already taking one in January) so won't be resitting if i haven't passed.

    Good luck!
  • LondonMattLondonMatt Experienced Mentor Registered Posts: 1,110
    I found it okay and I think I done enough to pass at least, but theres no way of knowing for sure. I might have missed something - it's not like DFS for eg where you can make sure things balance and therefore know you're right.

    Will just have to wait for 3 pm - is it 3pm, another thread might have said 8pm..? - for everyone else to write down what they got.
  • garry_coombsgarry_coombs Well-Known Registered Posts: 108
    Its 8pm for afternoon exams and 3pm for morning i believe
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    Has anyone noticed the times here are an hour ahead, does that mean people in Uk can speak at 2pm???
  • garry_coombsgarry_coombs Well-Known Registered Posts: 108
    I did notice, must be to do with the clocks going back, but i doubt it, i would assume we can talk at 3pm our time, but i guess it is an interesting theory, because time is different in relative terms to other countries so maybe lol
  • pernicketypernickety Feels At Home Registered Posts: 47
    For me, there were a couple of 'ifs and buts' that I need to check later. But all in all, hopefully, I dont think I did too bad, fingers crossed. As someone has already mentioned though, you just never know with BTC as you are not balancing. Plus, dont know how much they allow you for a small error here and there?
  • LondonMattLondonMatt Experienced Mentor Registered Posts: 1,110
    cs_1988 wrote: »
    Has anyone noticed the times here are an hour ahead, does that mean people in Uk can speak at 2pm???
    Time is okay for me... must be something different about your date/time settings on this board - not set to GMT??
  • imeldabyeimeldabye Well-Known Registered Posts: 147
    I also didn't think it was too bad - but a few things I wasn't 100% on and it's so difficult to know if you've got it right - I just tried to show my workings. It seemed shorter than other papers?? and I thought it was weird the way capital allowances came up twice.
  • imeldabyeimeldabye Well-Known Registered Posts: 147
    eek sorry mr moderator
  • garry_coombsgarry_coombs Well-Known Registered Posts: 108
    Oh i see it is right now, it was wrong yesterday, I'm sure of it! as i saw people posting about PEV at 2pm forum time but looked at my computers clock and it said 3.

    How rather odd
  • DJUKDJUK New Member Registered Posts: 5
    I am panicking here I think I made a major mistake on the paper and have just realised it now. Roll on 3 o'clock.
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    I Checked and Checked.....

    But know i have made a Huge balls up somewhere!!!!
  • FiorellinoFiorellino Feels At Home Registered Posts: 82
    AAAHHHH Cannot wait no more... I need to compare my answers with someone!!!!
  • DJUKDJUK New Member Registered Posts: 5
    Only 22 minutes to go! As if waiting for the exam wasn't painful enough!!
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    Only 9 Minutes to go lol :thumbup:
  • StaffzStaffz Feels At Home Registered Posts: 40
    Ohhhh Dear....

    Well, I cleverly forgot what my tutor told us over and over... there won´t be any losses as you need to be able to calculate the tax. I forgot to add back the salary Harrison paid himself and so ended up with a loss!!! Doh!
    I know all my Capital Allowance & I.B.A. calcs were correct, but not very sure about the rest in Section 2 - seems I spent too long looking at random stuff like leases, gift aid, political donations and stuff last night and not enough on things I thought were fairly fresh!! :001_unsure: gonna be stressed til Feb now!!!
  • DJUKDJUK New Member Registered Posts: 5
    I think I might have made a schoolgirl error was this Harrisons first year of trading?
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    Dont think so!
  • FiorellinoFiorellino Feels At Home Registered Posts: 82
    Hi everyone!
    What did you do about the £ 200 for air condition in section 1? Did you treat it as a loss or as a disallowed expense?
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    Did you add back £600 - for the goods he took?
  • GoldenRetreiverGoldenRetreiver Feels At Home Registered Posts: 64
    Iba

    Did anyone just deduct the value of land? I was unsure and in the end included the costs relating to landscaping for the building but deducted cost of land, how did you get on?
  • KairiKairi Feels At Home Registered Posts: 25
    It's 3.0.pm!!!
    Right... I have a question. How did you deal with the part of the salaries that was paid to the wife that was not employed by the company in the first part??? I put it as proprietor's drawings. Did i do it right??

    Also... I just thought back.. I think I missed a question completely. There was something about company paying dividends in the second part, wasn't there?? But then I am not sure I would have known how to deal with it anyway. Anyone?

    Otherwise, I think it was a pretty good exam. Nothing too out of the ordinary and all understandable. Just hope my 2 muck ups will not be enough to fail me
  • FiorellinoFiorellino Feels At Home Registered Posts: 82
    I did added back Harrison and wife wages back, I think they were not allowable.
  • kjg-kjkjg-kj Feels At Home Registered Posts: 68
    No it was the company's first year of trading with the shorter period
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    yeah, it should have been the price, deduct land and land preperation costs, then 4% then time apportion for 10 months!
  • cs_1988cs_1988 Well-Known Registered Posts: 231
    KJG KJ - Your thinking about section 2 i think
  • KairiKairi Feels At Home Registered Posts: 25
    Did anyone just deduct the value of land? I was unsure and in the end included the costs relating to landscaping for the building but deducted cost of land, how did you get on?


    I took the cost of the land off. Not 100% sure that was correct as the property was bought with the land but I thought it's more likely than not perhaps.
  • FiorellinoFiorellino Feels At Home Registered Posts: 82
    nooo you do not apportion the IBA
    I am not sure about the figure for preparing the land, I think I have not deducted it.
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