PEV Muddle

anniebabe

Keep getting in a muddle with all these variances.
Keep getting volume and capacity mixed up.
Thought I was ok - but I seem to have not taken it in at all
Has anyone else had this problem? - or is it just me?
Trying my best not to get myself in a flap.

nc82

PEV in my humble opinion is the most challenging exam, I struggled with variances so I practiced them non stop until it sunk in.

keane155

I hate financial performance, it is so confusing with all of the variances!!

anniebabe

hi guys
thanks for responding,was beginning to think it was just me, ive ended up starting again from the beginning with this unit - getting confused with the fixed variances.

Rinske

Don't start again from the start, just go pick on the weak areas, rather than all of them!

I'm assuming you found the helpful posts from Sandy regarding these variances, and the oranges from Marga and such? If not, do a search, there should be loads of help on these forums already.

Try and do a question on the variances, find out where you go wrong and figure out why they do it differently or what they are after, and then do the same question again!

It really will help to focus your energy on something you don't understand, rather than reading the text again in this unit, as a lot is understanding how they work and knowing the difference between them.

Try to think of an real life example for yourself if you can. Imagine doing the accounts / budgets for your household and check what the variances are.

anniebabe

Hi Rinske
Thanks for your advice.
I seem to think ive understood the variances but then find I havent, getting a bit frustrating.
So decided to look at all the workbook questions again. I am working from the Osborne Tutorial and Workbook. but have also managed to get a Kaplan book - not sure what the difference is - if its better or not.
I have had a bit of a search on here for posts and there seems to be loads, oranges from Marga? will have to have a look for that not sure about that one.
I am being stubborn and refuse to give up! lol

SandyHood

In my experience variances for something you can imagine or understand mean more than a load of formulas.
Here is a link
http://forums.aat.org.uk/showthread.php?t=19695

with no numbers - just an attempt at understanding what is going on.

anniebabe

thanks Sandy was just looking for that.

SandyHood

Here are a couple more http://forums.aat.org.uk/showthread.php?t=22143
http://forums.aat.org.uk/showthread.php?p=112015#post112015


There are lots, if you look in search

anniebabe

thanks.

Rinske

Sorry, it seems the oranges was Sandy's!

I thought Marga had uploaded the word doc from the oranges at some point, hence I thought it was Marga's post and not Sandy's.

O well, Sandy is your saviour really if it comes to variances and budgetting! Just go to his profile, find all posts and work your way through! I'm sure you will find lots of helpful posts there!

Marga

i did my variances understanding what i was doing

just try to bring them to your daily life situations (or make them up!)

you buy two potatoes and from each potatoe usually you cut off 5 chips....therefore you should end up with 10 pieces of chips

one day for some reason you are not paying attention and do the chips thinner in a way that instead of 5 chips actually you cut 6 ...therefore you will end up with 12 pieces of chips


variance then is 12 - 10 = 2 chips .....


just understand what you have to compare and it will come to you ....

anniebabe

Thanks for the reply Marga.