Home For AAT student members AQ 2013 AAT Level 2 (Level 5 in Scotland)

Level 2 struggles!

jslutwjslutw Feels At HomeRegistered Posts: 28
Ive only been doing level 2 since beginning of september but am still finding it a little confusing am i the only one or will it eventually sink in

Comments

  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    I found some of it never really sank in, although I had a bookkeeping diploma....got many years ago.... double entry was like double dutch for ages, then one day...BINGO...it made sence. I am on level 3 now and believe me I am finding that tough but hopefully it will do the same one day.

    Just keep practicing and don't be afraid to ask, are you at college or home study?

    Jan
  • Diddy MauDiddy Mau Well-Known Registered Posts: 238
    jslutw wrote: »
    Ive only been doing level 2 since beginning of september but am still finding it a little confusing am i the only one or will it eventually sink in
    Hi jslutw,
    some of this will be confusing. it's trying to learn a new way of looking at money. Yes, it will sink in, I know a friend at college who didnt understandit, then one day everything fell into place.
    My advice, keep reding the information, if your at college ask the lecturers or ask people on here. always someone willing to help

    Good Luck
  • Carl168Carl168 New Member Registered Posts: 10
    I think you will be ok when you come to do the exam.. once you have covered all the topics for that module things will start to click as you seem like the type that will work hard.

    I'm not sure if your doing distance learning or in classroom.. but if you do choose to continue and do level 3 i would strongly suggest classroom tuition.

    I think if you are currently doing level 2 in the class room try and read the material you will be covering that week before class, that way you will be able to benefit the most from asking your tutor the things you dont understand
  • JasonTurboJasonTurbo Feels At Home Registered Posts: 27
    What unit are you currently studying? I've just completed my Basic Costing studies and have moved onto the Basic Accounting 1 which I must admit is 2 or 3 steps up. Double entry seems to confuse everyone at first by the sounds of it, I've been looking at it for a couple of weeks now and it's slowly sinking in. Just keep at it, practice makes perfect after all :)
  • Pearce161Pearce161 Feels At Home Registered Posts: 57
    i too started lvl 2 in late september. we only got our text books last week, we're doing Basic Accounting 1. I'm studying at college and our tutor said that double entry is the hardest thing to learn, once you get a grip of that everything else is jus learning the procedures. i had done the IAB manual book-keeping lvl 1 in the summer so had a little head start and seem to be doing ok. Jus keep at it and as ppl have said eventually it will click.
  • mrb82mrb82 Well-Known Registered Posts: 147
    Don't worry, it will sink in one day, and quite suddenly. I understood what double entry was, but I just couldn't apply it in the practice assesments, I even failed the practice papers the week before the exam, but just keep repeating it over and over and it sinks in.
  • nicd1981nicd1981 Well-Known LiverpoolAAT Licensed Accountant Posts: 244
    this helped me when i first started studying AAT

    day books:

    SALES credit
    VAT credit
    SDB debit

    PURCHASES debit
    VAT debit
    PDB credit

    Trial Balance

    PALED AND CLIPS

    DEBIT CREDIT


    P purchase C capital
    A assets L liabilities
    L losses I income
    E expenses P profit
    D drawings S sales

    If you can remember these your debits and credits will be easy
    remember sales returns and purchase returns are the opposite

    once your debits and credits sink in everything else will fall into place
    its hard at first but i wrote this down and tried to say it over and over again before all exams and simulations
    trust me it helps

    nic x
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • jslutwjslutw Feels At Home Registered Posts: 28
    nicd1981 wrote: »
    this helped me when i first started studying AAT

    day books:

    SALES credit
    VAT credit
    SDB debit

    PURCHASES debit
    VAT debit
    PDB credit

    Trial Balance

    PALED AND CLIPS

    DEBIT CREDIT


    P purchase C capital
    A assets L liabilities
    L losses I income
    E expenses P profit
    D drawings S sales

    If you can remember these your debits and credits will be easy
    remember sales returns and purchase returns are the opposite

    once your debits and credits sink in everything else will fall into place
    its hard at first but i wrote this down and tried to say it over and over again before all exams and simulations
    trust me it helps

    nic x

    DEBIT CREDIT


    P purchase C capital
    A assets L liabilities
    L losses I income
    E expenses P profit
    D drawings S sales

    bit confused on this bit as purchases on a t bar dont they go on the credit side
  • anisurrahmananisurrahman Well-Known Registered Posts: 130
    Purchases (on credit) goes into your Credit Suppliers Account (information only/memorandum account) on the Credit side. But on your general ledgers Debit: Purchases account (treat as an Expense for the business) and then Credit: Purchases ledger control account (PLCA). When you pay your Creditors/Suppliers then Debit: PLCA (reducing your liabilities) and Credit: Bank Account (money out from the bank). Also Debit Suppliers Account (information only/memorandum account)

    Ronnie
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