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Budgeting Exam

readerreader Experienced MentorMAAT, AAT Licensed Accountant Posts: 1,042
I've got my budgeting exam on 13th October.

I have not even started revising- I hate myself for this; I always put myself in these unnecessary stressful situations (I now find myself on this forum procrastinating rather than revising- what is wrong with me?).

Does anyone have any rough ideas how long it takes to revise for this exam (the Kaplan book has 9 chapters over 356 pages + a workbook); is it easy?

Thanks in advance for any help/tips

Also I have never done a CBE so any help on how I can get some experience with doing CBEs will be much appreciated.

Comments

  • uknittyuknitty Experienced Mentor Registered Posts: 591
    Hi Reader !

    I'm doing my Budgeting exam on 28th September. My suggested study timetable had me sitting the exam mid October but there is no availability at the exam centre in October so it was a choice of waiting or bringing it forward. I'm also feeling a bit under pressure to get this done !

    What I have found with Budgeting is that the practical element of the exam (e.g the actual drawing up of budgets) isn't really that different to anything studied at level 3. There is a review of cost behaviours, absorption and marginal costing, dealing with limited resources,flexing and so on. I think almost all of this was covered in what was Unit 6 (Costing)

    If you have already done CMCC (which I think I remember you saying elsewhere that you had) then there are also cash flow budgets, so again nothing really brand spanking new.

    What *is* different is the "principles of budgeting" part. Its not necessarily hard to understand (in fact it is quite logical) but there is a reasonable amount of material to try and take on board. I'm just waiting on my Kaplan Pocket notes to arrive for this unit as I find they really help me to commit the key points of the "wordier" chapters to memory !

    What is now the budgeting unit was Unit 9 on the NVQ pathway and Unit 33 on Diploma. There are loads of resources for both these units on My AAT. If you are more familiar with the paper based style I would suggest you try doing one of these practice papers just to see how you get on, and then have a go at one of the practice CBE's.
  • BeccaLouJ9BeccaLouJ9 Experienced Mentor DevonFMAAT Posts: 1,022
    Hey Guys,

    I am studying this unit too. Apparently it is the easiest one at L4!! I hope not- I am finding it really difficult!!

    I haven't got my CBE booked yet but hopefully this month I can do it.

    The bits I'm finding difficult are the bits that I should know well as it's the bits from L3 ECR. (Costs and Revenues). Contribution per machine hour and labour hour, and which to use, when..! I should know but I just cannot get my head around that bit!

    Anywho good luck with the remaining study for this!!!

    B x
  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    It's good to hear that other people are working on budgeting and that I'm not the only one (hold on a minute, I'm not working on it, I'm on here procrastinating again)

    Hopefully it is one of those exams that just requires lots of practice, practice, practice and not much thought
  • DsindleDsindle Feels At Home Registered Posts: 39
    BeccaLouJ9 wrote: »

    I am studying this unit too. Apparently it is the easiest one at L4!! I hope not- I am finding it really difficult!!

    Hate to say it but this really is the easiest module of Level 4, this is the only exam which the whole class passed!! My little tip would be to try the online practice CBA's as the exam was almost identical, just different numbers, however i did sit this back in March so they may have changed it now but it really wasnt that hard in comparison to FNST!! Good luck with your studies, time and effort will pay off xx
  • adibaadiba Feels At Home Registered Posts: 53
    Hey guys

    I sat my Budgeting exam just over 3 weeks ago so I'm still waiting for my results but I think it went ok. My advice would be to practise, practise and practise. I had a go at the practise CBA's a few times and also there are lots of past papers on the webiste as well, I know they're the old standards but they are pretty similar. I have my Financial Performance CBA booked for 5th October so I'm busy revising for that at the moment and am planning to start Financial Statements next, pretty nervous about that one as it does seem to be a tough one!
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