ecr exam- abosulutely gutted

anitag
anitag Registered Posts: 17 Dedicated contributor ? ? ?
Feel sick, I thought i knew my stuff, completely blobbed on section 2. Couldn't touch the placing of costs on the profit and loss account --hadn't come across it before. i did however work out the contribution and profit per unit and part c gave a reason why the two profit figures would be different.The investment appraisal question gave me two negative NPVs, chose the first option at it was the less negative! looks like 2 questions wrong will definitely fail me. Gutted as I felt confident!!! can only hope there is a really low national average!!!!

Comments

  • tinkerella
    tinkerella Registered Posts: 45 ? ? ?
    I was feeling quite confident and messed up on both them questions. I tried to put as much information down to try and get some marks but i know i have definately failed

    I did all the past exam papers and they all kind of had the same pattern going on then i sat down yesterday and it was nothing like it



    I messed up on the basic question about the guys wages. i wrote the basic but forogt to put the bonus on. Durrr!!


    Really dissapointed:(



    Oh well will have to resit in June thats a deffinate.

    x x x
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    AnitaG with the last question it was an NPC that you were working towards so both vans were going to have negative figures. You had to choose the one with the least negative figure which was the first van.

    I have to be honest the only reason I knew this was sitting a past paper on Sunday night which had an NPC rather than NPV!!

    Looks like everyone struggled and must admit was a tougher exam than all past papers!!
  • catheriner3482
    catheriner3482 Registered Posts: 41 ? ? ?
    i feel the same, i had done all the past pappers, and i was doing really well on them and feeling pretty confident about the exam. then i open the paper and actually thought i had been given the wrong exam! it was nothing like any of the past papers. what was going on there? it was so much harder and the P&L in section 2, i had no idea what to do on that, i don't even think we studied that at my college. i totally messed up, i hope the national average is low also, so hopefully they lower the mark required to pass, thats the only hope i have on passing!
  • anitag
    anitag Registered Posts: 17 Dedicated contributor ? ? ?
    makes sense now, but when you haven't been taught or seen the phrase NPC you're not likely to know about it. Hopefully a few marks for the ability to use the pv factors correctly-- all my figures are likely to be correct (just with brackets around them) stiil came to the same conclusion that the first option(can't remember the letter) should be invested in coz least NPC (or as i put it the least negative value!-although the terminology is wrong) Is that right or am I clutching at straws?
  • valley
    valley Registered Posts: 2 New contributor ?
    Does anyone know what date we receive our results?
  • wesjp23
    wesjp23 Registered Posts: 9 Regular contributor ⭐ ? ⭐
    Apparently we recieve them in february.
    I was absolutley gutted yesterday after the exam. I was questioning whether or not i should carry on after finding it so difficult. However after reading everyones posts i think we are all in the same boat,I know exams are suppose to be difficult but i felt lost on section two.
    I study unit 5 at college and was due to start on unit 6 after xmas but decided to do unit 6 on my own and sit the exam! Possibly the wrong decision but at least i know what to expect in the re sit in June (unless a miracle pass occurs!)
  • chiesa
    chiesa Registered Posts: 1 New contributor ?
    This exam was a joke

    I was actually looking forward to this exam, having passed all of the previous past papers with relative ease. I really revised hard but everything I revised on was not even in this paper, I should not have bothered revising. I have definately failed this paper and will need to resit in June. I feel a bit conned as well cos I will obviously have to pay for the resit. Does anyone know how much a resit is? Im hoping AAT will waive the cost for a resit.
  • jemmahowells
    jemmahowells Registered Posts: 1 New contributor ?
    I totally agree that this exam was a complete joke. I did 8 past papers and revised up on everything, internal rate of return, relevant and irrelevant costs, all the questions that I came across in the other exams that I struggled with. I put so much of my time in, yet when I opened the paper, there was not one question about any of this in the exam. The past papers I did followed a fairly similar format, whereas the exam was completely different.

    I think the AAT will receive a LOT of negative feedback from this exam. I think that with a rate of 65% to pass, not many people will achieve a pass in this exam especially if past exam papers have been used as part of their preparation. I may even put this to the AAT?
  • smile
    smile Registered Posts: 1 New contributor ?
    Absolutely agree. All my college mates after they left exam room felt sick and coned. We did revise whatever was possible and it's true - there are some patterns and at least we could predict what to expect. But this exam!!!!! Hated the feeling they gave me. Felt so stupid and useless. Everyone stayed trying to make the answers up till the last moment, when our tutor told us that we will nee maximum 2 hrs to complete it and plenty of time to check if any mistakes. Rubbish!!! I know it sounds rediculous but we are all prepared for June resit.
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    anitag wrote: »
    makes sense now, but when you haven't been taught or seen the phrase NPC you're not likely to know about it. Hopefully a few marks for the ability to use the pv factors correctly-- all my figures are likely to be correct (just with brackets around them) stiil came to the same conclusion that the first option(can't remember the letter) should be invested in coz least NPC (or as i put it the least negative value!-although the terminology is wrong) Is that right or am I clutching at straws?

    AnitaG Basically spot on and 100% correct for that question I would say! I agree for me just lucked right out on this question as it was one of the last past papers I sat on Sunday night!!
  • OlympicRudi
    OlympicRudi Registered Posts: 55 ? ? ?
    I remember doing the ECR, but I took the computer based one. I even passed the mock without doing any work for the module at all. It's one of the things I like doing before exams of doing tests I know nothing about. So in effect preparing me for how to deal with stuff I don't know as well as making me feel more at hope when it comes to the real test. Also prevents me from falling into the trap of getting into a routine from past papers.

    Maybe if you're having trouble with the paper based ones you should try the computer based?

    PS. I found the module very logical & if you think about the objective, and taking it step by step, in the question it usually makes more sense than getting caught up in the fact you haven't dealt with it before.
  • Northcav77
    Northcav77 Registered Posts: 1 New contributor ?
    anitag wrote: »
    Feel sick, I thought i knew my stuff, completely blobbed on section 2. Couldn't touch the placing of costs on the profit and loss account --hadn't come across it before. i did however work out the contribution and profit per unit and part c gave a reason why the two profit figures would be different.The investment appraisal question gave me two negative NPVs, chose the first option at it was the less negative! looks like 2 questions wrong will definitely fail me. Gutted as I felt confident!!! can only hope there is a really low national average!!!!
    Hi, I am glad someone has posted about this so soon, I feel absolutley gutted and did not want to give my paper in at the end as my feeling was exactly the same about the profit & loss - general feeling the same with other students I spoke to at the end, waiting for my next class to get feedback :(
  • sjb958
    sjb958 Registered Posts: 7 Regular contributor ⭐ ? ⭐
    Net present cost question should of ended up as positive numbers not a negative! if your numbers were negative then you have got it wrong! Its a Net Present COST and not Net Present Value! The figure means how much it will cost the business. So a positive 1000 figure will COST the business £1000.

    Ie the best van to purchase would be the smallest number (which both were positive)
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    As stated elsewhere NPC is a cost to the firm and your aim is to find the cheapest cost so must be a negative figure or put another way a 'complete cash outflow/outlay'

    NPVs you would expect to see cash inflows which were not part of yesterdays question!
  • sjb958
    sjb958 Registered Posts: 7 Regular contributor ⭐ ? ⭐
    no its positive!
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    Oh no it isnt!

    Well it is that time of year!

    Capital Expenditure is clearly a negative figure to begin with (cash outflow) so goes w/o saying that the rest has to be negative (outflows). Doubt it matters how you show it on the answer sheet but the capital expenditure was bracketed yesterday!

    As stated elsewhere whats done is done it is the rest of the paper and results I am worried about!!
  • sjb958
    sjb958 Registered Posts: 7 Regular contributor ⭐ ? ⭐
    Just to prove my point, look at the past paper June 07 task 2.4 and it has a net present cost question there (its on the AAT website ) its very similar to the one we done.... and its positive!!!
  • Elsie
    Elsie Registered Posts: 8 Regular contributor ⭐ ? ⭐
    Net Present Cost negative or positive?

    Yes have looked at that but also look at answer to June 2009 paper and the cash outflows are shown as negatives so as these are cash outflows surely they should be shown as negative too?

    If the AAT can change their mehod of presentation over two different papers then just maybe we are all right.

    BTW out tutor today agreed with negative too.
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    They are cash outflows ie/ costs to the business so cannot be anything else but negative figures as it is costing the company money!

    The main point of the question was getting you to select the least expensive option.
  • sjb958
    sjb958 Registered Posts: 7 Regular contributor ⭐ ? ⭐
    well when the answers come out online we will see that they are positive and i am right won't we!
  • Ian
    Ian Registered Posts: 83 ? ? ?
    Can't really comment on this particular paper, but I do remember when I done it this time last year (you must have seen the past paper) it was a complete disaster. However I still passed. Even to this day I can't believe that I did so as Bon Jovi said, "Keep the faith".
  • NO BUSINESS CASE
    NO BUSINESS CASE Registered Posts: 85 ? ? ?
    sjb958 'well when the answers come out online we will see that they are positive and i am right won't we!'

    When the answers come out you will see A figure which will be capital expenditure + discounted costs per year=answer. Once again this was not a NPV question but an NPC question 2 different things altogether as peoples answers have shown!!

    In actual practice this will be a negative figure as you are spending money but if you made it that obvious on the AAT paper it would not have been a challenging, some would probably say misleading question!

    At the end of the day it is done now so last comment on the subject from me and looks like we will agree to disagree!
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