FRA fail! fail! fail!
Comments
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alanhporter wrote: »I found it a bit different to the other papers I practised. Q1 seemed odd as I could not find a closing balance in the PLCA. Other bits went OK, I got stuff to balance especially in section 2.
I thought the wording was a bit odd, especially the depreciation question, it seemed to ignore the new purchace of fittings for £4200 so that needed £630 depreciation to be added in (4200 X 15%).
Oh well long wait until August 17th.
I have passed all the other elements so just this to go.
Anyway good luck everybody, if a lot screwed up it changes the bell shaped distribution curve & hence the pass mark.
Enjoy the summer
Cheers
Alan
:cool2:
Alan, if i remember rightly the first question was all about removing the old asset.. the questions further on in the section were about new asset & depreciation etc.
Good luck tho.0 -
Lispre, my bosses (all chartered) knew that things didn't go well for me when I got in this morning. I'm 38, and had a good cry last night too because part 2 went all wrong. They said that they've never met an accountant yet that passed all their exams first time, & if the board were looking for 75% of correct figures to pass us, 'there'd only be as many accountants as brain surgeons.' I think failling the odd exam is all part of the course (if you know what I mean), & I feel I'm just being tested on my resolve to stay with it now, & not give up. We all need to keep our chins up.x0
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Wording
I really struggled with the wording of the questions.
On the supense I didn't agree with the question on insurance. I knew it had to be 1000, but did not agree as I don't think the question implied you to do this.
I did not get the section 2 profit and loss to balance, I was out 30k which was because i put the 30k in closing stock, but found that a bit confusing.
I was a bit disappointed with myself for not following the questions, thought I was the only one. :001_rolleyes:0 -
Hi, i sat the fra paper on Wednesday, i do agree it was harder than passed papers, there were a few tricks and odd things to trip you up, the wording of the papers was different in the way that the passed papers took you though it step by step, were as this paper, rather asked you a question then left you to try and find out what you needed, and were to find it! i also worked out all the deprecation and total cost of fixed fixed assets then realised they had purchased replacements and had to do it all again. Throwing in cost of sales in the etb was mean especially as you needed that figure to continue. I sat the ecr paper in December which was horrendous i was sure i had failed, was shocked to find i had passed. I don't fink i did very well in this paper but i didn't find it as bad as ecr so hopefully i did enough to pass. So don't worry to much as i found out with ecr you never no.0
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the closing balance for the plca was at the top of the page. I almost missed it myself.0
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Hi Andypandy and everyone else on the forums,Lispre, my bosses (all chartered) knew that things didn't go well for me when I got in this morning. I'm 38, and had a good cry last night too because part 2 went all wrong. They said that they've never met an accountant yet that passed all their exams first time, & if the board were looking for 75% of correct figures to pass us, 'there'd only be as many accountants as brain surgeons.' I think failling the odd exam is all part of the course (if you know what I mean), & I feel I'm just being tested on my resolve to stay with it now, & not give up. We all need to keep our chins up.x
I was just browsing before the return to work after taking my last 3 Technician exams and wondering how I was going to tell the boss I think I failed one, when I read your post. It has completely changed my attitude and I will keep your words in mind in future.
We have all done so well in learning new skills and techniques and we're the ones taking the exams, so we should stop beating ourselves up on what we haven't yet achieved and should concentrate on what we have, and with resolve and perserverance, what we will achieve.
Well done to everyone who attempted to learn something new - knowledge is never wasted; and good luck with the results, we're so tired this week I'm sure we did better than we think right now.
Lou1230 -
Dont worry - you're not in your own...I completely ballsed this up too.
Trial balance didn't balance, my calculations for the disposal were all out because I missed the purchase of new fixtures and fittings, my balance sheet didn't balance and last but not least I forgot about goodwill! Haha!
I'd prepared for a prepayment or accrual t account, or a lengthy fixed asset disposal/part exchange in the same style they have been in past papers. But alas
Methinks I'll be doing that one again
If Its any consolation - I had the exact same problems...
See you in December!!0 -
I had a terrible time with it too and I agree the wording was awful on some questions, I couldn't get either TB to balance and I ran out of time, there were several moments when I was so overcome with panic it felt pointless, I was seriously ready to walk out. It was only the fact that I have worked my cotton socks off and thinking of my children that I didn't leave. By the end I was quietly sobbing to myself and spent most of the evening crying in the comfort of my own home.
Why do they have to change the fomat so drastically? its scary enough being under exam conditions without them changing everything! I needed another hour I reckon and then maybe I would have found out why nothing balanced. I worked and re-worked section 1 until I just got so fed up that I moved onto section 2 to find no improvement their either. At home I can do all these things with hardly a hitch. GRRRRRRRRRRRRR!!!!!!!!!!!!!! :crying: :mad2:0 -
If you look at the 2003 December paper i think it is (could be the June one tho..) it's almost the exact same as the paper on wednesday..0
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i was very nervous in the exam, it was so difficult and different from 3 past papers, i didn't look at last exam paper, when i return back home i saw 2003 exam which is same 2009 i was very angry that time.
every task i didn't complete especially section 10 -
FRA - nothing unexpected
I thought the exam was pretty straight forward. Everything balanced and the BS on section 2 worked just fine. It was very similar in every aspect to the previous past papers so if these were done, and understood, this exam was a breeze. The only slightly tricky bit was the exclusion of the closing stock on the P&L for the ETB, but once worked through, it was clear it was meant to be omitted.
Did no-one else find it pretty simple?0 -
Yes - I found it quite easy too. It suprises me that people are complaining that the wording was different, and the questions laid out different to previous exams!! Surely if you know your stuff, and understand it, it shouldnt matter how its laid out. After all - were supposed to be being tested on our accounts knowledge -not on how well we can reel off answers in the same way/format as the past 16 exam papers we've done !!
Sorry!!0 -
That's the thing! I think too many people try and learn the subject from past papers rather than actually UNDERSTANDING the subject. If you understand it properly, the way things are worded should not "trip anyone up" as some people have mentioned.
A lot of it would probably have to do with the tutoring you get! I know some providers are far better than others.
I can definately recommend A Plus Accountancy Training, although this is only in the South West.0 -
I'm glad to see a few posts finally stating what I have been thinking. If you understand it, the questions can be set out in any way they like.
No, we aren't being tested to see how many previous papers we have completed!
I'm not fantastic at my studies or anything, but we should all know what figures are included in the cost of sales as presented in the ETB. Shouldn't we?0 -
I also thought the paper was nothing too major. Not quite as easy as June 2008 though!! I must admit, it took me about 20 mins to work out that the closing stock was included in the 'Cost of Goods Sold' part of the ETB, and that's only because i have never seen it before. But once i spotted it, i understood perfectly why. I'm quite confident about this exam! Dont get me wrong, i know i made a couple of silly errors, one of them being that i calculated depreciation over 3 years instead of 2, but i used correct method etc.... And i also entered the closing stock balance (which im sure i've calculated correctly) in the TB, even though it didnt ask me to!
I'm sure everyone makes silly mistakes though....0 -
yes i have to admit that even though i found it easy i did spend nearly half an hour checking and rechecking that tb when i was 30k out, but like you say once i realised it had already been included in cost of sales it was straightforward. Mind you - glad i did cos otherwise i would have finished the whole paper in an hour and wouldnt have wanted to get up and leave after that short time, people would think i was a right swat
:ohmy:0
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