Cost and Revenues

Stanford892
Stanford892 Registered Posts: 4 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Hello, I am sitting my cost and revenues exam tomorrow and was just wondering, to all the people that have done it, how difficult is it? I can pass the CBA but im worried when it comes to the actual exam I might not pass as I feel like the only stuff I know is on the CBA.

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  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
    Hello

    You say you are sitting your costs and revenues exam tomorrow... is this a paper exam or a CBA? I can't really say whether the CBA is easy/difficult as I think it depends on each individual and whether they see the CBA as easy/difficult.

    Please don't take this the wrong way and I hope you don't think I am being rude but I think it will also depend on how much work the candidate has put into studying for the exam. I sat mine back in February and put a huge amount of time in to studying/revising with a few friends who studied the course with me - the CBA was testing... but that is the whole point of an exam.

    Do you study at college or are you a distance study student. Are there any other students who you could meet up to study/revise with? Are there any areas you are not 100% with on CRS?

    Hope the above helps somehow.
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • Stanford892
    Stanford892 Registered Posts: 4 New contributor 🐸
    Could anyone give me a list of possible topics that could come up on cost and revenues task 2?

    Task 1 of the CBA I find ok, its task 2 in which I struggle.
  • sdv
    sdv Registered Posts: 585 Epic contributor 🐘
    Stanford892 wrote: »
    Could anyone give me a list of possible topics that could come up on cost and revenues task 2?

    Task 1 of the CBA I find ok, its task 2 in which I struggle.

    Task 2 is about the double enrty

    for example

    If stock is issued from stores which account do you debit and which account do you credit?

    or

    If new stock is received in stores which accounts do you debit and credit?

    or

    If the units are 100% completed on the production line, which accounts ...............

    Accounts available

    1 Stock
    2 Creditors
    3 Production
    4 Finished Goods

    In this task you really need to know know your double entry.

    The other tasks following this is

    Labour - how the labour charge is calculated, indirect/direct labour, over time, OT premium etc

    Overheads- allocation and apportion of overheads.

    service departments - allocation and apportion of service dept overheads

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