costs and revs time sheet question. HELP!!

tink1382tink1382 New MemberRegistered Posts: 8
Hi! I have the costs and revenues exam tomorrow and thought i was all prepared. Then i did a practice exam and got the time sheet wrong and can't work out why :ohmy: It is pg 166 of the osborne books workbook, task 1.3. I was splitting the Sunday pay between basic and overtime premium (basic pay £36 premium £36.) When the correct answer was to put it all as Premium £72. Why is this!?!?! :confused1:Usually you calculate basic pay for all hours and then put the premium separately. In the answers there is an asterisk by this answer but no apparent explanation. It is too late now to contact my tutor and thought i would try out the forums for some last minute advice! Can anyone explain this to me please? Anything to do with the fact there was no contracted hours for Sunday? To do with it being indirect work? In the other practice exam in the book the time sheet question seems to give the same instructions for Sunday work yet split up the payment... hmmmm

Comments

  • coojeecoojee Experienced Mentor Registered Posts: 794
    In my book it is split £36 to basic and £36 to premium. Which version of the book have you got?
  • tink1382tink1382 New Member Registered Posts: 8
    Thanks for your reply coojee. Would you have a look at the answer document for the Costs and Revenues practice assessment on this site for me? (not the CBT practices) It is also a repeat of the same assessment and wants an answer of £72 premium.
  • coojeecoojee Experienced Mentor Registered Posts: 794
    But there's a note against it saying that either method is valid. So if you've got £36 and £36 it will still be marked correct.
  • tink1382tink1382 New Member Registered Posts: 8
    Thank you! I see the star but still dont see the explanatory note..
  • ClarekayeClarekaye Trusted Regular Registered Posts: 306
    yeah I heard rumours about there being more notes and help but I havent seen any yet.

    Good luck for tomorrow, please let us know how different the real ones are to the mocks (mines friday!)
    :-)
  • tink1382tink1382 New Member Registered Posts: 8
    Thank you. I am pleased to hear it isn't just me who is missing this crucial info! From previous exams i have found them quite similar to the mocks. I guess all any of us can do is just learn the stuff, practice some assessments beforehand and then just do our best. After that if they throw us something really horrid we can at least know that we prepared the best we could. No regrets :001_smile:
  • ClarekayeClarekaye Trusted Regular Registered Posts: 306
    Oh I like it, yes we have all prepared ourselves :001_smile:
    The thing I really hate is if I dont pass this time you have to wait a whole month to take it again, I still have 4 more after this one but I dont want to try to learn two parts at the same time as I will get in a muddle.
  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Good luck everyone I have mine tomorrow as well, was quite confident until started using the BPP sample assesments and found so many mistakes and bits missing, got ourselves in a muddle. Oh well as you say can only do our best.

    Jan
  • welshwizardwelshwizard Trusted Regular South WalesRegistered Posts: 465
    HI all

    I have copied text from some tutor amendment notes available to tutors on the Osborne website:

    COSTS & REVENUES WORKBOOK – TREATMENT OF SUNDAY PAY ON A PAYROLL TIMESHEET
    There is currently an issue raised by the sample assessment material provided by AAT for Costs & Revenues in the
    treatment of Payroll calculations for Sunday pay. Task 1.3 of the AAT Sample Assessment states:
    'For any hours worked on a Sunday - paid at double-time (basic pay plus an overtime premium equal to basic pay)'.
    The AAT Solution, however, shows that the total pay for Sunday is allocated in full to overtime premium with no amount shown for basic pay.

    The Osborne Books Costs & Revenues Workbook provides two Practice Assessments.

    Practice Assessment 1 has been written in-house by Osborne Books authors. Task 1.3 (page 152), states 'For any
    hours worked on a Sunday - paid at double-time (basic pay plus an overtime premium equal to basic pay). In the
    answer (page 177) the total pay of £56 to the employee for Sunday has been split equally between the basic pay and overtime premium as stipulated in the task.

    Practice Assessment 2 is the AAT sample material. Task 1.3, page 166 uses the same wording in the Task as Practice
    Assessment 1 (ie 'For any hours worked on a Sunday - paid at double-time (basic pay plus an overtime premium equal
    to basic pay)'. The AAT Solution on page 183, however, shows that the total pay of £72 to the employee for Sunday is
    allocated in full to overtime premium with no amount shown for basic pay.
    Please note that this difference in approach also affects Costs & Revenues Workbook activity 3.6 where the Sunday
    pay of £48 is split equally between basic pay and overtime premium as required by the Task.

    We have now been provided with the following wording issued by the AAT to deal with this discrepancy:
    ‘ . . . the computer based assessment (CBA) will mark as correct both approaches – i.e. splitting or otherwise
    the overtime between basic pay and overtime premium on a Sunday.’

    Hope this clarifies things.

    Good luck!
  • Jo ClarkJo Clark Font Of All Knowledge Registered Posts: 2,526
    Hello Jan

    Guessing you are getting a good nights sleep ready for your exam tomorrow.

    Hopefully you will receive my good luck wishes before you go in. Good Luck Jan :D

    I know you can do it!

    Do let us know how it goes - I'll be thinking of you whilst revising.


    JC :o
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • GemmaSGemmaS Well-Known Registered Posts: 178
    Good luck Jan! fingers crossed for today :)
  • Sammmy88Sammmy88 Trusted Regular Registered Posts: 283
    How did you get on Jan?
    Level 2 - Passed 2011
    Level 3 - Passed 2012
    Level 4 - Passed 2014

    Awaiting to start CIMA :)
  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Hi everyone

    I passed, :thumbup: I was so lucky with the questions, listened to some of the others and wouldn,t have had a clue!

    Only AP2 resit to go.

    Jan
  • ClarekayeClarekaye Trusted Regular Registered Posts: 306
    Congrats Janwal! To be fair if I try and read some of the ones out loud I get confused to when I read them on a screen. Were they much different to any mocks?

    How about Tink??

    WelshWizard well done for finding that! now there should be no confusion :001_smile:
  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Clarekaye wrote: »
    Congrats Janwal! To be fair if I try and read some of the ones out loud I get confused to when I read them on a screen. Were they much different to any mocks?

    Hi Clare

    There were somd differences in layout to the mock but basically most of the questions were close, I actually found I used Kaplan as extra study and a lot of the questions I got were covered in their books but not in BPP whi we used at college.

    Good luck on Friday, take a deep breath and read the question, you should be fine

    Jan
  • tink1382tink1382 New Member Registered Posts: 8
    Well done Jan! I also passed. A couple of tricky questions that i had to really think hard about but seem to have answered them ok. So tired now! Zzzzzzz
  • ClarekayeClarekaye Trusted Regular Registered Posts: 306
    Well done Tink1382 you can relax now :thumbup1:
  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Well done Tink1382
  • Sammmy88Sammmy88 Trusted Regular Registered Posts: 283
    Well done Tink and Jan!! :thumbup1:
    Level 2 - Passed 2011
    Level 3 - Passed 2012
    Level 4 - Passed 2014

    Awaiting to start CIMA :)
  • Jo ClarkJo Clark Font Of All Knowledge Registered Posts: 2,526
    janwal wrote: »
    Hi everyone

    I passed, :thumbup: I was so lucky with the questions, listened to some of the others and wouldn,t have had a clue!

    Only AP2 resit to go.

    Jan


    Congratulations Jan

    I had no doubts that you would pass :) and congratulations to everyone else who passed Costs and Revenues recently.


    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • janwaljanwal Experienced Mentor Registered Posts: 1,189
    Jo Clark wrote: »
    Congratulations Jan

    I had no doubts that you would pass :) and congratulations to everyone else who passed Costs and Revenues recently.


    JC

    Thanks Jo

    Leaves AP2 to resit in a couple of weeks, feeling a lot better about that, just came at the wring time last time.

    Had tutorial today on start of Level 4..............scary!!

    They have changed the optional modules from BTX & PTX to PTX and Cash Management as they have highest pass rates. Starting with FNST and Budgeting. Project to do in hols if possible..doing a work based one.

    Jan
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