Budgeting Practice Assessment (AQ2013)
Amyjay
Registered Posts: 4
Hi everyone!
I'm sitting my budgeting exam soon and have just tried Practice Assessment 2 on the AAT website. I keep getting stuck on question 1.4 with the index numbers. I can calculate the first 4 years but when it asks to forecast to year 5 I keep getting 14418 when the answer is 14891.
I assume when forecasting forward you take the revenue in year 1 of 12200 / 110 (index for year 1) x 130 (index in year 5) to give the forecasted revenue which gives the answer 14418.18.
I can't see what I'm doing wrong if anyone can help!
Thanks!
Amy
I'm sitting my budgeting exam soon and have just tried Practice Assessment 2 on the AAT website. I keep getting stuck on question 1.4 with the index numbers. I can calculate the first 4 years but when it asks to forecast to year 5 I keep getting 14418 when the answer is 14891.
I assume when forecasting forward you take the revenue in year 1 of 12200 / 110 (index for year 1) x 130 (index in year 5) to give the forecasted revenue which gives the answer 14418.18.
I can't see what I'm doing wrong if anyone can help!
Thanks!
Amy
0
Comments

Note on previous post:
I hadn't noticed the pattern running along the bottom sales figures which increase by 100 each time. So the year 5 figure would be 12600 and then working backwards you get the 14891!
It's all good now last minute exam panic!
0
Categories
 All Categories
 1.2K Books to buy and sell
 2.3K General discussion
 12.5K For AAT students
 317 NEW! Qualifications 2022
 155 General Qualifications 2022 discussion
 11 AAT Level 2 Certificate in Accounting
 56 AAT Level 3 Diploma in Accounting
 92 AAT Level 4 Diploma in Professional Accounting
 8.8K For accounting professionals
 23 coronavirus (Covid19)
 272 VAT
 92 Software
 274 Tax
 136 Bookkeeping
 7.2K General accounting discussion
 201 AAT member discussion
 3.8K For everyone
 38 AAT news and announcements
 345 Feedback for AAT
 2.8K Chat and offtopic discussion
 582 Job postings
 16 Who can benefit from AAT?
 36 Where can AAT take me?
 42 Getting started with AAT
 26 Finding an AAT training provider
 48 Distance learning and other ways to study AAT
 25 Apprenticeships
 66 AAT membership