Cash Management Practice Assessment 2 Task 1.2

Katie32x

Hi,

I have my cash management exam Tuesday and am working through practice assessments on AAT website. Task 1.2 on the second practice assessment has me stumped! It's a question on sales volume and 3 point moving averages, I have worked out all trends and all seasonal variations and have got these all correct. The second part of the question then asks what the 'average monthly trend' is, the answer given is 36 but for the life of me I can't get to this answer. If anyone can tell me how you work out average monthly trend I will be very grateful as it's driving me mad!! Thanks, Kate.

zippi

Hi Katie32x

To calculate average monthly trend is quite straight forward. You take trend figure for period 7 which is 1885 (last fig) in this instance and take away 1705 (first fig.)trend figure from period 2. You are now left with a figure of 180. You then have to take into account by how many times has trend figure gone up from period 2 to 7, which is 5 times. You divide a figure of 180/5 and you get 36. Good luck with your exams. I have managed to pass all my exams first time, this is the only one which throws me completely Real Exam is quite different from the book and AAT online, so goodluck! Let me know how you find the real one!

JohnPj

zippi said:

Hi Katie32x

To calculate average monthly trend is quite straight forward. You take trend figure for period 7 which is 1885 (last fig) in this instance and take away 1705 (first fig.)trend figure from period 2. You are now left with a figure of 180. You then have to take into account by how many times has trend figure gone up from period 2 to 7, which is 5 times. You divide a figure of 180/5 and you get 36. Good luck with your exams. I have managed to pass all my exams first time, this is the only one which throws me completely Real Exam is quite different from the book and AAT online, so goodluck! Let me know how you find the real one!

Hi Katie32x and Zippi, I have my exam next week and I've seen a few comments on how different the exam is to the practice ones !! Can you give me any pointers ? What popped up on the exam? Why it was so different ! I'm super stressing

zippi

Don't stress, if you are good at maths, you should be ok. I had my first shock 2 years ago in level 3, when that is the only I failed. I passed second time though! Then AAT took it out of level 3 and here I am again struggling with it. Going to do my second attempt on Monday, God help me! Again in level 4 that is the only one I failed. Once I get through that I am qualified!!! let's hope we are all lucky second time.

zippi

The exam is quite long and tricky so speed is essential as sometimes you don't get chance to go back due to shortage of time. Yes it is definitely different to the practice paper but if your maths is good you should sail through it. Good luck, let me know how you went.

Katie32x

Hi both, Zippi thanks so much for your help - I ended up having a monthly trend question so you really helped. I didn't actually find the exam too bad, I found skipping straight to the theory tasks and writing down all the information that's fresh in your head on those subjects is a wise thing to do, I then continued with the rest of the exam as normal and when it came to the theory questions I had a lot of info written down to help me get stuck in. The layout was pretty much the same, although some try to catch you out so just be wary of that. It's only been 3 weeks since I took my exam so still waiting! I will let you know how I get on.

JohnPj

Hey both, Luckily I tend to finish my practice assesments with some time to spare, so time is not my main concern at this moment, I've just seen comments on HOW different the exam is. I'm not a maths genius lol For example one of the comments is on task 1 and how they were told to complete a Profit & Loss statement opposed to the usual cash flow statement we get in the practice. . . Literally lost sleep over this last night Thats why I wanted to get some feedback on what popped up etc

zippi

hi Katie32x
I am glad, I was able to help a little. I have not got much time to prepare as lot of work was going on at my place. I just have to give my best shot. 1 more extra week would have been good to catch up on really long writing questions. Let's hope it all goes well.

zippi

JohnPj
Goodluck with yours!

zippi

I think I'll need one as well!!!

Katie32x

Hi John, I also got a profit and loss instead of a cash flow on task 1. It made me panic initially but the rest of the exam was ok so don't lose sleep over one question.

JohnPj

Hi Katie, when you say you got profit and loss , I fail to understand what you guys mean I have my exam in a few days and I have a major cold on.. Stressing more than ever!! By P&L do you mean the type of questions you get on the osborne website tests ? Where you are given accruals and prepayments ? And for e.g you add opening trade rec + sales - closing ? ?

NickCraggs

You could be given a profit and loss account and supporting information. From this you need to calculate the actual cash received and paid for all of the sales and expenses. Taking into account debtors, accruals etc.

Katie32x

Just received my competent result what a relief. Waiting for dreaded personal tax result now. Hope your exam went well John.

JohnPj

Congrats Katie!!!!!!! !:) Go celebrate, no doubt you deserve it !

How long did your results take ? Im not sure on mine lol the more I think about it the less chances of passing I have lol

zippi

Well done Katie32x, all the best for Ptax!