Misery

anthony_12c

Ok, took FRA today and think i failed.

I had a brain freeze and worked out the Depc wrong (stop laughing!) which meant the following 4 answers were also wrong and the trial balance didn't balance, realised what i did wrong after i left.

And as had no tipex my ETB in section ended up being totaled on a blank page although it did balance the examiner will need the patient of a saint to follow it.

Everything else i.e. section answers not including depc were fine and the whole of section 2 were fine.

Basically what i want to know can i still pass?

Mog17

anthony_12c wrote: »

Ok, took FRA today and think i failed.

I had a brain freeze and worked out the Depc wrong (stop laughing!) which meant the following 4 answers were also wrong and the trial balance didn't balance, realised what i did wrong after i left.

And as had no tipex my ETB in section ended up being totaled on a blank page although it did balance the examiner will need the patient of a saint to follow it.

Everything else i.e. section answers not including depc were fine and the whole of section 2 were fine.

Basically what i want to know can i still pass?

I was told you have to pass each section individually to pass overall. They don't set the pass rate til they mark the paper (so I'm told) so I guess it would depend on how everyone else has done on section 1.
Can't really go into details yet - got to wait til 8. But when it's 8... what bit of the depc did you work out wrong?

twinmeister

my depr. ended in 50p so I knew I must have got something wrong, but somehow it all balanced! Re-worked it over and over but still to no avail.

Mog17

twinmeister wrote: »

my depr. ended in 50p so I knew I must have got something wrong, but somehow it all balanced! Re-worked it over and over but still to no avail.

Just said on another thread that I did a boo boo on a mock messing up a number right near the beginning but then carried it through (getting everything else wrong in terms of calculations as a result of the initial mess up) and did really well because the principle of what I was doing was right. I'd only messed up the one question totally. The rest had credits for method (just not 100% credits).

anthony_12c

the depc, if i remember, was purchase year 2006 sold 09, i worked out 3 years, thats why i got the .50p answer it should only been 2 years, right?

anthony_12c

yeah, as i worked out the initial depc wrongly, it affected the following figures but they will be able to see i knew the principal of what i was doing. Am i just hoping for too much tho?

bagpuss3008

twinmeister wrote: »

my depr. ended in 50p so I knew I must have got something wrong, but somehow it all balanced! Re-worked it over and over but still to no avail.

mine had a point 5 too, know I defo screwed up the rest of the paper though...resit here I come

Mog17

anthony_12c wrote: »

the depc, if i remember, was purchase year 2006 sold 09, i worked out 3 years, thats why i got the .50p answer it should only been 2 years, right?

Yeah - was dep in yr of acq and none in yr of disp so only 2 yrs

bagpuss3008

twinmeister wrote: »

my depr. ended in 50p so I knew I must have got something wrong, but somehow it all balanced! Re-worked it over and over but still to no avail.

Mog17 wrote: »

Yeah - was dep in yr of acq and none in yr of disp so only 2 yrs

But if they bought in 2006, then its all of 2006, all of 2007 and all of 2008, 3 years...?

Mog17

anthony_12c wrote: »

yeah, as i worked out the initial depc wrongly, it affected the following figures but they will be able to see i knew the principal of what i was doing. Am i just hoping for too much tho?

No I don't think so. You won't get full marks, granted but if you did all the stuff which followed right (just using the wrong depreciation figure) you will definitely get credit for the method. I'm sure they do allow for the odd mistake! Otherwise it would just be 100% pass mark, no exceptions!

Mog17

bagpuss3008 wrote: »

But if they bought in 2006, then its all of 2006, all of 2007 and all of 2008, 3 years...?

YE was in March wasn't it? So it's 06-07, 07-08 then nothing 08-09 cos it was disposed of in 09 (no depreciation in year of disposal).

twinmeister

that's what I put moog

rachelrunshaw

bagpuss3008 wrote: »

But if they bought in 2006, then its all of 2006, all of 2007 and all of 2008, 3 years...?

I think it said it was purchased in September 2006 so March 2007 was the first year it was in the accounts. March 2008 and then nothing in 2009, hence 2 years.

Pinchy

Yes, you've got to think in terms of financial accounting years like 06-07, etc rather than 2006, etc.

A-Vic

Say for intance they started trading on 13th March 2006 their first trading year would be:-

13 March 2006 to 12 March 2007

Nikkih

twinmeister wrote: »

my depr. ended in 50p so I knew I must have got something wrong, but somehow it all balanced! Re-worked it over and over but still to no avail.

I did that 2 its just dawned on me my answer for the dep was 1213.50 i think it must of been my calculator my acc dep was then 5313.50 i no the answer is slightly out but my TB balanced it was 162 something with .50 at the end, im hoping that coz ive shown i know what im doing meaning i know how the dep works and the fact my TB balanced but may be out like pence i dont fail coz of this:001_unsure:

Jan

Just because you got one part of the question wrong doesn't mean you have failed, even if it gives you the "wrong" answer in the rest of the paper. You have to show your understanding, which is why you are advised to show your workings.
When I did my exams at Int I messed up indexation and at Tech missed out a whole question - must have done ok with the others 'cos I passed both papers.

Stop worrying, enjoy the summer and congratulate yourself when you get the results.

anthony_12c

thanks jan, i hope your right