Which one is easy ECR or FRA

any2002uk
any2002uk Registered Posts: 88 Regular contributor ⭐
in AAT Level 3 (Level 6 in Scotland)
For those students who have done sat ECR and FRA, whch one is easy? But i found ECR more harder because of unexpect question. I have not study FRA and will start by next month

Comments

  • dobbieobby
    dobbieobby Registered Posts: 231 Dedicated contributor 🦉
    I missed out year 1 as I've worked in accounts for way too many years (I'm 33, started in accounts straight from school, but only credit control) I found ECR way more difficult than FRA. Mind you, I thought I'd failed the FRA exam but didnt. There's loads of tips I can give you, I remember things in a weird way... i.e. DEAD. This to me means discount allowed is an expense, so goes down on the p/l. I had loads of them, but I think you need to think of your own!
  • *hayley-may08*
    *hayley-may08* Registered Posts: 43 Regular contributor ⭐
    I preferred ECR the most! More formulae to remember, but its more common sense in a lot of it, as in, if you forget it, you could sort of guess... by looking at what figures your being given, n what ur being asked to work out! I found FRA gobbldegook - but thats my own opinion!!! But depends on which side u prefer, n if u deal with either at work? I deal more with the ECR side, than FRA side of things :)

    good luck.
    xx
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
    ECR was awful, FRA was easier for me.

    I have to also share the fact that I saved 3p on my tea today because of the VAT reduction, well worth it......
  • dobbieobby
    dobbieobby Registered Posts: 231 Dedicated contributor 🦉
    And I had a text today from O2 that my bill will be at the new rate this month, that's another 5p for christmas presents. It wont be lonely after all!!!
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
    hey my fav choc went down in price too score. Totally messed up fra but hey choc cheers me up lol
  • laurad
    laurad Registered Posts: 49 Regular contributor ⭐
    i have found FRA quite hard and was hoping next unit would be easier but from what your saying maybe it wont be!!! :(
  • HayleyB
    HayleyB Registered Posts: 27 Regular contributor ⭐
    I found ECR easier than the FRA one. Was convinced I failed ECR even though I knew more about it-didn't though luckily! Convinced I messed up on the FRA exam!
  • Victoria
    Victoria Registered Posts: 18 New contributor 🐸
    Heya,

    I think it all depends on your strengths. ECR doesn't have much relevance to todays society so you can't really relate. But FRA is used daily. So because i work in accounts i found FRA easier.

    Loving the VAT reduction, easy pennie counts! Not going to be nioce when it goes up again :thumbdown:

    Victoria x
  • agatha
    agatha Registered Posts: 41 Regular contributor ⭐
    FRA- easy and interesting; ECR- BORING
  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
    Victoria wrote: »
    ECR doesn't have much relevance to todays society so you can't really relate. But FRA is used daily.

    Sorry Victoria but that made me smile a little. I know the country's currently in a downturn and all that, but we do still have some manufacturing & service industries left in the UK. Proficient cost accountants are probably needed more than ever in the current climate! As far as ECR goes, you don't learn how to establish overhead rates, break even, mark ups/margins and much more in FRA, all things vital to setting up and running a successful business.
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    Perhaps Woolworths and MFI management didn't study ECR

    It may have been
    Agatha - too BORING
    Victoria - ECR doesn't have much relevance to todays society so you can't really relate.

    If they had understood the relationship of costs and revenues, these two businesses might not be closing down

    Business after business goes out of business by taking the eye off the heart of the business and trying to focus on financial reporting.

    Today's economy is dynamic and the finance department of a dynamic business must look at where the business is going as well as what has happened. Victoria I hope your firm does that.
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
    Victoria wrote: »
    Heya,

    I think it all depends on your strengths. ECR doesn't have much relevance to todays society so you can't really relate. But FRA is used daily. So because i work in accounts i found FRA easier.

    Loving the VAT reduction, easy pennie counts! Not going to be nioce when it goes up again :thumbdown:

    Victoria x

    Now having 4 different vat rates to cover sucks when producing VAT returns but i have started to notice the price difference.
  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
    Exactly Sandy. Seemed to be the case that when I did my Intermediate three years ago, most people only really wanted to do FRA and found ECR a chore. Having been in manufacturing most of my working life I find it quite worrying that most don't seem to see the relevance of maintaining accurate cost measures in the day to day running of a successful business. As you say, if you can't control your costs on a day-to-day or job-by-job basis - which should present a much more accurate picture of the health of the business - there isn't much point in preparing end of year financial statements. That's simply locking the stable door in December after the horse had already bolted in March.

    To coin a football analogy, ECR might be the unsexy defence of the team with FRA being the cool and hip strike force, but for anyone who knows anything about football, you can NEVER build a successful team from the front backwards only ever from the back forwards.

Categories

Privacy Policy