financial statement help !!

abd-ellahi

Did anyone for their real exam had to work out depreciation ( straight line or reducing balance method) or was it already given ?

wabisabi

I seem to remember having a short question on depreciation when I sat it in December, but it's all a blurry memory now. I remember being pleasantly surprised at the time as it was quite easy.

abd-ellahi

Was that in the written element of the exam or the calculation section? If you remember that is.

wabisabi

It was just one of the shorter questions, and I was so surprised it came up I thought there might be a trick to it! I just did it and moved on - I was really pushed for time for this exam. I don't remember it coming up in any of the bigger numerical questions, but I think it could.

abd-ellahi

Thank you so much i really appreciate it. have you completed your level 4?

wabisabi

No, still got a long way to go! I started with FSTM in December and have FPFM this Saturday. Fingers crossed!

abd-ellahi

I've done financial performance before. Do you understand:

Calculations ...
- work out standard cost ?
- Direct material price and usage ?
- Direct labour efficiency and price ?
- OAR ?
- Fixed overhead expenditure, capacity, volume ?
- know your ratios e.g. gross profit ...return on net asset?
- target profit of fixed production cost per unit, total production and fixed production cost?

- profit achieved ?
- Profit margin?
- mark up?
Written elements

Are like the online ones but you have worked write about some figures that have not got any adverse or favourable sign and work out what it would be ? E.g. direct material is £5600 you have to write about why would it be adverse or favourable and also if the company bought a new machine how would. That impact on the materials and labour and fixed overheads etc
that's all I remember go through the online papers thoroughly please
Hope this helps

abd-ellahi

And also remember how to do high low method