Budgeting Exam!

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missm4ry4m
missm4ry4m Registered Posts: 177 Beyond epic contributor 🧙‍♂️
Hello Level 4 students..

I have my Budgeting exam tomorrow and wanted to know whether the exam was similar to the CBTs on the AAT website..?

Thanks

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  • Spamkebab
    Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
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    There were no major surprises in my Budgeting exam. Some questions were laid out a little differently

    from the practice CBT's, but nothing to panic about really.

    Good luck for tomorrow!

    Neil.
  • James Patterson
    James Patterson Registered Posts: 281
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    I found that if you know the format and how you complete the process of it, then it doesn't matter how they lay it out, you'll manage just fine :)

    Best of luck
  • Spamkebab
    Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
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    True dat, true dat James.

    I also understand that some students 'flap' when they see a question worded differently or laid out differently than
    they experienced and came to learn during studying the mock CBT's.

    This shouldn't be the case at this level though, expect the unexpected.

    Neil.
  • janwal
    janwal Registered Posts: 1,189 Beyond epic contributor 🧙‍♂️
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    Good luck with the exam, let me know what you think got mine in 2 weeks
  • missm4ry4m
    missm4ry4m Registered Posts: 177 Beyond epic contributor 🧙‍♂️
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    Thank you Neil, Spam Kebab, James & Janwal for the advice.

    I also wanted to query something for whose who have already done the Budgeting exam..

    The working schedule and operating budget is set out differently in the CBTs. In the working schedule for Materials how do you work out how much closing stock is? I'm with Kaplan and in the revision kit is set out differently already giving this figure, however in the CBT it doesn't give it, how do you work this out?

    This will be a great help.

    Thanks in advance
  • emuratty
    emuratty Registered Posts: 66 Epic contributor 🐘
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    the only surprise in my budgeting exam was a question about ideal standards which we hadn't covered in class and isn't discussed in the osborne text - you just need to know what it is and be able to discuss the advantages/disadvantages etc
  • missm4ry4m
    missm4ry4m Registered Posts: 177 Beyond epic contributor 🧙‍♂️
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    What is the ideal standard? Incase in comes up in the exam lol.
    I can't find it in the book!
  • Whirlwind
    Whirlwind Registered Posts: 249 Beyond epic contributor 🧙‍♂️
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    Hi,

    I think this is in the Financial Performance unit too. There are three standards:

    Basic - not very useful as never motivates
    Attainable - not impossible but may not motivate
    Ideal - perfect conditions but may demoralise as impossible to achieve

    http://www.helium.com/items/1802367-standard-costing
    You may want try this link as it explains the 'pros and cons' a bit better than I can - cant get to my FNPF books at the mo!!

    Hope this helps!!
  • James Patterson
    James Patterson Registered Posts: 281
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    Ive only just realised that says 'Spam Kebab' i always read it as 'Spamke bab' - please don't ask me why.
  • Spamkebab
    Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
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    I dread to think what you thought Spamke bab meant James lol.
  • James Patterson
    James Patterson Registered Posts: 281
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    Spamkebab wrote: »
    I dread to think what you thought Spamke bab meant James lol.

    haha you don't wanna know!
  • Clintm15
    Clintm15 Registered Posts: 248 Dedicated contributor 🦉
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    NicolaR wrote: »
    Hiya,

    Just wanted to see how you found your budgeting exam as I have mine tomorrow? - Was it similar to the CBTs?

    Thanks
    Nicola

    I found them to be almost identical.
    AAT
    Level 2 - 2011
    Level 3 - 2012
    Level 4 - 2013

    ACCA
    F4 - Corporate Law - Dec 2015 (passed)
    F5 - Performance Management - Dec 2014 (passed)
    F6 - Taxation - Dec 2013 (passed)
    F7 - Financial Reporting - Jun 2014 (passed)
    F8 - Audit & Assurance - Dec 2015 (passed)
    F9 - Financial Management - Jun 2015 (passed)
  • missm4ry4m
    missm4ry4m Registered Posts: 177 Beyond epic contributor 🧙‍♂️
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    Good luck Nicola!

    I did mines last week aswell, the waiting is indeed very frustrating!!
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