Manufacturing & Trading P&L

reddwarf

I notice in Osborne books for ECR there is a chapter on the above but none of our lectures have been on this subject and none of the exam papers I have done so far (all but two) ask questions on this topic.

Is it possible it may come up at some point in an exam, even just a question on what goes where??

I'll be revising it never the less!

Esme

Are you sure.. a whole chapter? P&L was FRA I thoguht?

A-Vic

reddwarf wrote: »

I notice in Osborne books for ECR there is a chapter on the above but none of our lectures have been on this subject and none of the exam papers I have done so far (all but two) ask questions on this topic.

Is it possible it may come up at some point in an exam, even just a question on what goes where??

I'll be revising it never the less!

I read up on this yesturday myself its pretty straight forward but have been through all the exam papers i havnt seen it once (but there is always the chance it might come up) i had the same thing happen last year with the FRA my tutor didnt cover a question luckly i had looked it in it.

A-Vic

Esme wrote: »

Are you sure.. a whole chapter? P&L was FRA I thoguht?

its in chapter 8 costing book ECR :001_smile:

Bookworm55

I think it's just a case of your cost of goods sold being composed of different things:

Manufacturer: direct materials, direct labour, direct expenses

Trader: purchases

reddwarf

There is the issue of manufacturing profit so that you can see if your production process is profitable - goes on and comes off later - just need to review that too I think.

A-Vic

Funny thing is my tutor said the same about process costing that it isnt in the exam a lot but we have covered it this year

reddwarf

It seems it wasn't in the syllabus until the past few years and then it wasn't tested so the colleges moaned about that, so then it got tested! I think it would be risky strategy not to revise it!!!