Budgeting Practice Assessment (AQ2013)
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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
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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!
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