Cash Management before Costs and Revenues

rafukrafuk New MemberPosts: 8Registered
Hi all

I passed Accounts Preparation I and II, and also Professional Ethics in Accounting and Finance

My question is if I can study and sit exam for Cash Management before Costs and Revenues?

For some reason somebody told me that I have to do Costs and Revenues first.

Please advise!:001_smile:

Comments

  • JuliettebJulietteb Settling In Nicely Posts: 26Registered
    I've done those 3, plus I did spreadsheets last week and am now doing cash management. I'm sure the order does not matter
  • amyjayne27amyjayne27 Trusted Regular Posts: 314Registered
    Hi rafuk,

    It doesn't matter what order you do them in I don't think. I did costs and revenues in oct and doing cashmanagement tommorow and for me personally costing was quite a lot harder, so maybe you could do it first to get it out the way? Good luck with whatever you choose, sounds like you are doing really well!
  • SarahJSSarahJS Trusted Regular Posts: 273Registered
    I've got both exams booked and there's no real reason I can see to not do them in any order. Like most things there's a small overlap, so the second might seem abit easier either way.

    But then AP1 and 2 are the last lvl 3 exams I've got, so I'm not being too conventional myself!
  • KashcowKashcow Settling In Nicely Posts: 19Registered
    Hi,
    Just wanted to ask how people found cash management and indirect tax, because I am self studying and wanted to know how long they were?
  • MWAUGH1983MWAUGH1983 Trusted Regular Posts: 420Registered
    Kashcow wrote: »
    Hi,
    Just wanted to ask how people found cash management and indirect tax, because I am self studying and wanted to know how long they were?

    I am in the process of starting these and im also self studying. The osborne book for tax has 5 chapters and I have been told by people that they did one days teaching and then the wk later they did the exam. There is apparently guidance in the exams with tabs you click on to get help. Cash mgt looks a bit more in dept - I was thinking of doing tax 9/3 and cash mgt 26/3 but I think I will leave cash mgt and prof ethics till round may time and do tax and spreadsheets in march.

    Some of the sylabus for cash mgt on the old standards on collection of debt is been taken out and done at level 4. That would be 3 chap of the old standards osborne texts.
  • JoKnapekJoKnapek New Member Posts: 14Registered
    Hi,

    I've completed AP1 & AP2 and have Cash Management tomorrow. I've got the study book for Costs and Revs ready to get straight on with the next level. I'm a bit nervous of costs & revs as it seems people have found this the hardest module on level 3. Your thoughts welcome.
    Jo
  • SarahJSSarahJS Trusted Regular Posts: 273Registered
    Kashcow wrote: »
    Hi,
    Just wanted to ask how people found cash management and indirect tax, because I am self studying and wanted to know how long they were?

    I self studied and found these 2 and ethics the shortest modules by far. Indirect tax has most the info in the exam availabe so not lots to learn, and cash management just seemed short and simple (compared to others).
  • Jo ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    Kashcow wrote: »
    Hi,
    Just wanted to ask how people found cash management and indirect tax, because I am self studying and wanted to know how long they were?

    I studied these at college and we spent one lesson on ITX and could sit the exam when we felt ready, so I sat it the following week. Cash Management was two lessons and again I sat the exam the following week. As other students have said, these are two of the shorter modules but it doesn't make them any less important or easier :)
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • danny1717danny1717 Settling In Nicely Posts: 20Registered
    indirect tax is very easy and you dont need more than 2 weeks to prepare yourself, cash management the same Tricky one is costs and revenues You need more time to spend on it but im sure you can do it I study myself from bpp books and i find it these books very good So far i didnt have to resit any exam Good luck
  • torresgbrtorresgbr Feels At Home Posts: 38Registered
    Hi Jo
    When I walked out of my Cost and Revenue exam the Tutor said it was by far the hardest exam of level 3. I found the exam a real headache. Trick questions. I found my exam nothing like the practice ones on this site. Had to remember all
    the formulas.
    When I signed up I was told all level 3 units are independant and can been done in any order
  • Jo ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    torresgbr wrote: »
    Hi Jo
    When I walked out of my Cost and Revenue exam the Tutor said it was by far the hardest exam of level 3. I found the exam a real headache. Trick questions. I found my exam nothing like the practice ones on this site. Had to remember all
    the formulas.
    When I signed up I was told all level 3 units are independant and can been done in any order

    Hello

    I agree that Costs and Revenues was challenging although I did thoroughly enjoy this module.

    I also agree that parts of the exam were in a different format to the practice exam, however if you have the knowledge you should be able to apply this to any situation. Yes - I also had to learn and remember the formulas and you will find them handy when you study Budgeting and Financial Performance at level 4... as well as learning more new formula :) I'm not sure what you mean by trick questions?

    Yes, you can study the modules in any order however some do overlap with others. It would make sense to study AP1 before or at the same time as AP2. Modules like SPSW and PEAF are 'standalone' but you will find that you use knowledge from these modules in future modules e.g. I am currently studying Personal Tax and we had a question about Ethics which I was able to answer having studied PEAF. You will also find that some other modules complement others at level 4 e.g. I would recommend that you study Budgeting before Financial performance as although there is new subject matter to learn in Financial Performance, a lot of what you will study in Budgeting and indeed have already studied in Costs and Revenues will be covered in this module.

    Apologies for going on and on!

    If there is anything which I can help you with please don't hesitate to ask.


    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • torresgbrtorresgbr Feels At Home Posts: 38Registered
    Maybe trick was the wrong word. But I found the exam exam nothing like the two AAT practice exams. It was my first level 3 exam and it threw me. Luckily as I said I read the forum first and someone mentioned this. Was all good at the end of the day.
    Thanks for the info on level 4 didn't know that.
  • janwaljanwal Experienced Mentor Posts: 1,189Registered
    Jo Clark wrote: »
    Hello

    I agree that Costs and Revenues was challenging although I did thoroughly enjoy this module.

    I also agree that parts of the exam were in a different format to the practice exam, however if you have the knowledge you should be able to apply this to any situation. Yes - I also had to learn and remember the formulas and you will find them handy when you study Budgeting and Financial Performance at level 4... as well as learning more new formula :) I'm not sure what you mean by trick questions?

    JC

    Hi Jo

    Can I ask if you found an easy way of remembering the formula, I am half way through CRS and cannot even remember the ones we did at the beginning. I have got myself a book now to put them in.

    Any ideas would be helpful as I feel like I'm drowning right now.

    How is your study going, can't be long to the end now.

    Jan
  • WhirlwindWhirlwind Well-Known Posts: 249Registered
    Hi Jan,

    I wrote and rewrote the formulas until I was sick of the sight of them. I ended up creating my own passcards with a page for each type required (absorb costings, Ltd factors, Break even/safety margin, Inventory reorder/mini/maxi. I was so boring whilst revising for this unit as carried my little list of formulas everywhere!!

    Fortunately, I passed C&R back in February, with the feedback saying I had exceeded each part (shockingly) and are currently studying Budgeting so the formula book is back again!!

    All the very best with it all!
  • Jo ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    janwal wrote: »
    Hi Jo

    Can I ask if you found an easy way of remembering the formula, I am half way through CRS and cannot even remember the ones we did at the beginning. I have got myself a book now to put them in.

    Any ideas would be helpful as I feel like I'm drowning right now.

    How is your study going, can't be long to the end now.

    Jan


    Hello Jan

    Hope you are well and doing ok with your studies?

    The way I remembered them was by practicing questions which utilised the formula. Some of the ratios which you will meet at level 4, some of which are in CRS, I made up silly sayings with a friend who I was studying with back then.

    I think your idea of a book with them written in is a good one :o Sometimes, in hindsight I think that I should have done that for some of my exams, however I believe we all learn and remember information differently, some by repetition, others being plenty of practice questions and me, I think I am a visual learner, mind maps, diagrams etc as well as liking lots of practice questions leading up to the exam.

    My studying is going ok thanks. I'm just taking a break from some question practice/theory revision for one of the tax papers which I am sitting soon. No, it is not long until the end, however I am sure I will continue my studies following me getting a new job :D

    If you get stuck on anything do email me or post a message here, you know there are plenty of people to help you.

    Enjoy the remainder of your weekend.


    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
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