HELP!!!Costing exam soon

jojo1979

Hi guys, I have my costing CBA very soon and am totally freaking out! I am struggling so much with this. I am totally confused with limiting factors and absorbtion. Does anyone have any time to explain? Any help would be appreciated. Also those who have done this is it as difficult as i think it will be? :-(

kirstym01

Wish I could help but I'm the same, exam on the 28th June and I feel so unprepared! For those that have already done this, is it very similar to the practice one?

SandyHood

Would a revision class help?
Where are you based?
How easy would it be for you to get to near Arundel on the south coast?

kirstym01

I'm in Somerset thanks for the offer though Sandy x

Hopeipassx

Hi

I have done this at my local college back in March time, Id like to say it was easy and like the practice ones but i'd be lying. All I can say is do as much revision as you possibly can and you should be fine.

I did pass - thank god, cus it was definitley one exam I didnt want to repeat.

Good luck.

kirstym01

oh no that has thrown me into massive panic now! is there anything on there that will come as a surprise? We've been studying from the osborne books. Is it really nothing like the practice??!

jojo1979

Oh no me too, i have been reading on here that is very much like the practice so thats what i have been basing my revision on. That is so not what i wanted hear :-(. I only have tomorrow left to revise. Is it really that difficult?

Thanks for the offer too Sandy but i am in wales :-(.

katsutlieff

JoJo Dont Panic! I am booked in to have my cbe on Friday and went into meltdown last night as I couldn't remember how to show abnormal loss and abnormal gain in the t accounts. In the end I had to walk away and take a break.

I had at some point copied the following document from someone on here, can't remember who, I think it was Marge, it might help to explain limiting factors. I randomly copy and save posts for future reference and then when it comes to using them I cant remember who to thank

sdv

I hope you will find the following article helpful by Philip Dunn from my study materials

sdv

another article that may help you understand limiting factors

katsutlieff

and don't forget to make use of the articles in the study zone within MyAAT there are some very useful documents in there

katsutlieff

I don't know how to link to pages within the ATHome section on MyAAT so I have copied and pasted.

jojo1979

thank you both for those resources i think i understand it now.

Katsutlieff - i think i am on the verge of going into meltdown with this unit too :-(, it is proving so difficult. How are you finding it?

SDV - thank you for your help

Jox

jojo1979

Thank you katsutlieff i was just about to ps you and ask where i could find them on here, you read my mind. Thank you.

Jox

katsutlieff

Go to MyAAT
StudyZone
On the Right hand side is the AT magazine Online, there are some really useful documents

I have quite enjoyed this unit, I understand the mechanics of how to calculate discounted cash flow etc but its explaining what it shows that I have struggled with.

I have found a few articles regarding absorption vs marginal costing which have helped explain the difference between the two. I don't know whether you hold onto any old Accounting Technician magazines but there is a really good article in the May 2010 one on comparing profits.

If you need any articles give me a yell. Don't worry I'm sure its all in there somewhere it's just accessing it

When is your exam?

Hopeipassx

Hi,

What I meant was its the same context as the practice ones but its layed out and worded differently which can throw ya.

Dont panic you'll be fine. Just try and understand it all rather than getting used to the way they word things (which is what I did - oops).

Good luck

jojo1979

Hi hopeipassx, am so glad you have said that now. I have been in a right panic here about it tomorrow. Was it difficult? Can you tell me some of the topics that came up?

Jox

Luby

From my exam it was similar to the practice exam but was wordered differently. A couple of mine had different layouts to what i was expecting but if you take your time and read the question you should be fine. The main annoyance with my exam where the figures i had to use, they were ridicolous like 1295413, just a minor pain really because it meant i had to triple check to make sure these figures were correct. I didnt get any questions on abnormal loss/gain but thats not say you won't. I did get one on limiting factors I think thats virtually gauranteed. Also remember getting an overheads question, reapportioning aswell i think thats another gaurenteed question.

Good luck with your exam and just remember to take your time and not panic

jojo1979

HI Luby,

Thank you for your reply, that has sort of put my mind at ease a llittle, only a little mind lol! I am just hoping mine will be very similar too. Oh dear limiting factors is one of the topics i am really struggling with, best make sure i am hot on that. Was reading through some bits and pieces that were kindly put on here for me last ngiht so hoping i will still understand it when the time comes.

THank you again

Jox

katsutlieff

How did you get on today jojo?

kirstym01

katsutlieff wrote: »

How did you get on today jojo?

I'm wandering too! Have been thinking of you today while we were at college revising for professional ethics tomorrow and costs next Tuesday :-/

AAT Level 3

Is Costs and Revenues the hardest at Level 3 then? I have tuition next week, not exactly looking forward to it.