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

C/D & B/D and brackets in remittance / statement account?

PetanaPetana Feels At HomeRegistered Posts: 72
Hiya,
I started studying the BA1 at home and have a few of questions.

1. Balance c/d - do you date as the last day of the month or as the day of the last entry?
2. Balance b/d - do you date as the 1st of the following month?

3. In a few examples I have noticed the use of brackets... it was once on a remittance and another time on the statement of account. Where and when do I need to use the brackets? I am well confused.

4. What is the book of original entry for discount allowed?

5. Am I right to assume that once I finish BA1 I would move on to BA2 and then the basic costing or would you choose different approach?

many thanks

Petana

Comments

  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Hi Petna

    1. Balance c/d is always the last day of the month and Balance b/d the 1st of the following month.

    2. Brackets means it is a fiqure to be deducted instead of added, eg a credit note

    Not sure about discount would need to recheck my notes

    There is no set pattern to studying, unless like me a college decides, if you feel it would be better to carry onto BA2 then do so or you may feel you want a brake, the only thing is remeber that WEAF and Computerised accounting both take longer to mark and there has been quite a few issues on this some taking upto 3 months.

    Good luck

    Jan
  • anisurrahmananisurrahman Well-Known Registered Posts: 130
    Hi Petana

    Discount allowed:

    Please see journal entries below and then postings need to be made to 'General ledger accounts' as per journal.
    Debit: Discounts allowed account
      Credit: Sales ledger control account (SLCA)
    

    You can do BA1 or BA2 and Costing at the same time, there are no set rules.

    Ronnie


    Petana wrote: »
    Hiya,
    I started studying the BA1 at home and have a few of questions.

    1. Balance c/d - do you date as the last day of the month or as the day of the last entry?
    2. Balance b/d - do you date as the 1st of the following month?

    3. In a few examples I have noticed the use of brackets... it was once on a remittance and another time on the statement of account. Where and when do I need to use the brackets? I am well confused.

    4. What is the book of original entry for discount allowed?

    5. Am I right to assume that once I finish BA1 I would move on to BA2 and then the basic costing or would you choose different approach?

    many thanks

    Petana
  • JaffasGirlJaffasGirl Trusted Regular Registered Posts: 387
    Discounts allowed and received will go in the cash book, so this would be considered the book of original entry. This is only a memorandum column in the cash book. It would then be posted into the ledgers as the poster said above, but it doesn't need to go through the journal.

    In regards to order of exams, I would say it more logical to do BA2 after BA1 because knowledge from the first is assumed in the second, so best to do it whilst its still fresh in your mind. I then did WEAF, which is an annoying paper. I'm back onto costing now, and this doesn't really require knowledge from BA1or 2 but it doesn't hurt. Just do it in whatever order you feel comfortable with, or whatever interests you most at the time. I would say the only important order is BA1 before 2.
  • PetanaPetana Feels At Home Registered Posts: 72
    Thanks both.

    I am going to take BA1 exam on 10/11 and want to make a quick move on to the next book, most likely BA2 then. I am currently studying at home, just got the books from BPP. Once I finish my level 2, my employer will fund my college learning for level 3 & 4...so really need to pass level 2 quick before they change their mind.

    I went for the BPP open day but didn't get to ask many questions. I understood I have to sit exams BA1, 2 & basic costing. What is the WEAF and Computerised accounting about? Is there a book to prepare? Who would mark it for me?

    Thanks for your replies guys.
  • anisurrahmananisurrahman Well-Known Registered Posts: 130
    Computerised accounting (we used Sage 50) and WEAF are not marked by the AAT. So, for these assessments you need to enrol with an AAT tuition providers (i.e. BPP, Kaplan, First institution etc.) and theses exam will be marked by your tuition provider (unless you can provide work based evidence).

    For WEAF and Computerised accounting you can buy any workbook and download the trial version of Sage for practice.

    Ronnie
  • PetanaPetana Feels At Home Registered Posts: 72
    I see, I will speak to BPP then, thank you. I work within finance so wonder if I could submit some work experience and maybe get an exemption.
  • JaffasGirlJaffasGirl Trusted Regular Registered Posts: 387
    For WEAF you can defiantly do work based evidence, you still have to pay (£150) for the unit, because BPP will need to assess you as competent. I'm sure you can do it for the computer exam too, but I haven't got to that part yet! Lol the computer unit is more expensive (around £250) but this might be cheaper if you are doing the experience part, as you want need a copy of the software.
  • PetanaPetana Feels At Home Registered Posts: 72
    Thanks for all the info. I haven't had a clue about these two units...
    JaffasGirl wrote: »
    For WEAF you can defiantly do work based evidence, you still have to pay (£150) for the unit, because BPP will need to assess you as competent. I'm sure you can do it for the computer exam too, but I haven't got to that part yet! Lol the computer unit is more expensive (around £250) but this might be cheaper if you are doing the experience part, as you want need a copy of the software.
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