Financial Performance

dizzyhorse

I have failed my FP twice now. I always exceed most areas on section 1 and exceed/met section 2 but did not meet question 2.3, 2.4. The final written report is nothing like the practice exams in the BBP books. I dont want to pay to re do the course so I have decided to keep revising and just pay to do exam. Does any one know ofother revision material

SeanLassman

I would just keep revising, I just keep practicing the CBAs the have on the site and just keep trying and just managed to pass at the 10th time on trying this one, the only section i was struggling on was 1.6 Drafting reports on variance and 2.4 Drafting reports on Key Performanace indicators.Now all i need to do now is start and complete the ICAS project

Good luck and keep at it

Sam22

Have you tried Osborne books? I've used them since starting AAT and find them very good at helping me understand thing first time. On the Osborne website there are 2 tests of 15 questions for each unit within the levels. They're different in style to what you get in the AAT practice exams but it's a good way of testing that you have understood the topics rather than learnt to answer the questions. Have you also done the green light tests on the AAT website? I also read through the written answers for the practice CBA's to get an understanding of kind of structure, wording and depth the examiner is looking for. Good luck, the hard work will pay off.

SandyHood

This might help with the final report:
http://eu.dummies.com/how-to/content/10-ratios-of-management-and-cost-accounting.html
It has been written with the second written task specifically in mind

beccajane87

I second Sam22's post - I would definitley recommend Osbourne books. I have used these books for all AAT exams I have taken and find they prepare me very well. Also looking at the practice exams on AAT website - these show you the type of written questions you will get in the real exam. Also on the AAT website they have something called guidance on extended written tasks, which will give you specific guidance on those questions and what the AAT are looking for in your answers.

Good luck! :001_smile:

dizzyhorse

I sat the 2010 exam and I had been practising in class the way the 2.4 questions are set for FP 2010, total confused me when the exam question for 2010 was set out like the 2013 standard question 1.10. I attend a local college and would like to ask anyone's views on study support, material from a private training provider?

Malcolm Green

You may like to have a look at our Financial Performance revision notes from our student revion workshop in December which you can download from our Birmingham branch website to see if these can help: http://aatbirmingham.org.uk/2013/aat-levels-23-and-4-student-revision-workshop-review.html#more-1548 I have also attached for you a revison summary Attachment not found. I trust this information will be of assistance. All the best for your next exam. Kind regards Malcolm

dizzyhorse

Thanks for the help and support. I will have a look at the links provided.

dizzyhorse

I understand the 2013, assessment 1, Q 2.10 but do not understand the wording for the Ass 2 Q 2.10 report. The first question is confusing how it is worded. Can anyone explain please?

SandyHood

Dear dizzyhorse
I've written out the question. I think this will help anyone else looking at this posting.

Why is the gross profit margin of Boold [one type of washing powder] less than double that of Diz [another type of washing powder] when the gross profit per unit is more than double?
Should the gross profit margin also be more than double that of Diz?

I have copied the data into a word document to try and help with the specific numbers in the task, but I think the general point doesn't need numbers.
This is a price - cost - profit question and I wouldn't be suprised if this same scenario (one product has a higher margin, the other a higher gross profit in money)

Think about a cup cake selling at £2.50 but costing £0.75 to make:
Profit per cup cake £1.75
Gross profit margin 70%

Now think of a large lemon drizzle cake selling at £12.50 but costing £9.00 to make:
Profit per cake £3.50
Gross profit margin 28%

There is no reason to expect the margin and the profit per unit to differ between two products in the same way.

And as you can see the key lies in the relationship between price and cost.

I need to finish the word document, but will add it when I have.
sandy@sandyhood.com

ellie72

Hi, Think Brain drain has set in now, can anyone please help me with question 1.8 on this assessment.

Option 1:
Sales Price: £70
Volume: 10,000
variable material: £20
variable labour: £10
fixed overhead: £24

Option 2:
Sales Price: £90
Volume: 6,000
variable material: £20
variable labour: £10
fixed overhead: £40
1) What profit can be achieved if the price is set at £70. The demand is 10,000 units but only 8,000 units can be produced.
2) An overseas supplier has offered to produce 4,000 at £45.
What profit can be achieved if price is set at £70. The demand is 10,000 units. 6,000 units willl be produced and 4,000 units will be bought.
Thanks
Ellie