OMG Variances
jewels.p
Registered Posts: 1,774 Beyond epic contributor ๐งโโ๏ธ
OK its that time again. Just started looking at variances for MAC and am like what?!!!!!!
(Sounds like dejavu from when I started DFS)
(Sounds like dejavu from when I started DFS)
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Comments
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Which ones are you struggling with?0
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All of them!
Havent really got into it yet just having a look just now but they look complicated. Is there an easy way of remembering them or is it just a case of redoing and redoing them till you get it?
I am using the Osbourne Book and wondered if it would be worthwhile getting the Kaplan Book for MAC as I borrowed the Kaplan one for DFS and it helped me a lot.0 -
Yes its practice and really understanding them as opposed to just learning them, hope that makes sense, even though its not a quick fix solution!0
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we did the should have did do - and totally agree with paul practise practise practise0
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Is MAC the one with standard , budgets and actual variances?0
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Hmm i've just sat a CA exam that is the double of MAC (apart from harder)
I felt like crying lol0 -
MAC is Variances, Budgets, Forcasts, Ratio Anaylsis, and totally over my head its NVQ 2 exams to one for diploma0
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A-Vic - what? The 2 costing modules from NVQ4 are now ONE module under diploma?!?!?!0
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A-Vic - what? The 2 costing modules from NVQ4 are now ONE module under diploma?!?!?!
I think if you are doing Diploma it has always been one exam being MAC and NVQ Route it is PEV and PCR. I dont understand it myself how everything covered in PEV and PCR can be covered in one subject Diploma Route. Can anyone help with this?0 -
It is a case of understanding what each variance actually is as Paul24 said.
I also wrote them out on index card things and carried them round with me to test myself on the go!!0 -
Hope that doesnt mean we have to fit six hours of exams into three? Dont know how it works.0
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Wow I didn't know that. The 2 NVQ modules seemed pretty distinct.
Anyway, back to the variances, I struggled with them loads but they finally clicked into place. The ones I'm thinking of are the ones with Standard Cost, budgeted cost, acutal cost and the comparatives between them. The trick for me was to really understand the difference (took ages for the penny to drop between standard and budgeted I think). I really didn't understand it properly and nearly didn't take the costing exam because of it. In the end I had to work out formulae, memorised them, then took the exam question, worked out which piece of info related to which part of the formula and applied them. Ideally you'd understand it, but if not, this method worked for me, so even if you don't understand it there is hope!.
Good luck all.0
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