Financial performance assessment

Billy
Billy Registered Posts: 21 Regular contributor ⭐ ? ⭐
Hi, just wanted to ask anyone who may have sat the Financial performance assessment lately that is it like the AAT Practise assessment 1, or Assessment 2?

Please let me know.

Thank you

Answers

  • klbookkeeping
    klbookkeeping Registered Posts: 37
    Hi
    I sat the Financial Performance exam in December and passed. It was a mixture of both practice assessments. Make sure you practice the variances and index numbers, line regression and the accounting equations, you can get decent marks on the written questions if you have a good understanding of the performance indicators. I was really worried about this exam but I found it easier than financial statements. I'm on with the project now but I'm hating every minute of it. Good luck with your exams.
    Billy
  • JohnPj
    JohnPj Registered Posts: 38 Regular contributor ⭐ ? ⭐
    @klbookkeeping What type of index questions came out ? & was the line regression missing the constant figure :( ? Stressing out!! Thanks :)
  • klbookkeeping
    klbookkeeping Registered Posts: 37
    The index question I got was quite straight forward but practice the different ways of calculating as you may have to work out the index number or do it the other way round and use the index to work out an hourly rate for example.
    With the line regression I had to work out the value of y and you got the all the fugues but had to work out X which from the index it may be something like "the value of X in April if January was 1" therefore Feb would be 2 March would be 3 and April 4, from that you could work out y= 1.2 + 45x So the answer would be 45 X 4 (April) = 180 + 1.2 then y=181.2.
    Not sure if I will of confused you more but I got quite stressed about index numbers then on the day it wasn't as bad as I thought.
    I am having yet another sleepless night trying get my ISYS report done, I am finding it quite difficult.
    Good luck
  • JohnPj
    JohnPj Registered Posts: 38 Regular contributor ⭐ ? ⭐
    Thank you :) I understand that type of regression which you described. I've just heard times where the constant figure is missing and its been quite hard to work it out :( Already failed Cash management and I want that to be the only one to fail :( lol

    Good luck with ur ISYS!!
  • Billy
    Billy Registered Posts: 21 Regular contributor ⭐ ? ⭐

    Hi

    I sat the Financial Performance exam in December and passed. It was a mixture of both practice assessments. Make sure you practice the variances and index numbers, line regression and the accounting equations, you can get decent marks on the written questions if you have a good understanding of the performance indicators. I was really worried about this exam but I found it easier than financial statements. I'm on with the project now but I'm hating every minute of it. Good luck with your exams.

    Thanks for the reply Klbookeeping, but just a quick question, on the regression questions did you get a question that asked you to work out what A and B both are, to get a total answer for Y? basically its the one where you would have had to draw a table up on paper to work it out. Also were the questions asked in the same format and order of the 2 AAT practise assessments?

    Hope your project goes well for you, I did mine on the case study of a company named Chic Paints Ltd. It wasn't too bad infact its probably the easiest unit I did at level 4.

    Finally thanks for taking your time out and sharing your experience of the Financial performance unit, I am due to sit this very soon.
  • klbookkeeping
    klbookkeeping Registered Posts: 37
    Hi they only asked for the value of y by calculating X.

    Yes it was the same format as asses 1 and 2. Try and get good marks on the written questions and use percentage information when detailing the variances. I did better on the written side than tasks 2 and 3.

    I feel like this project is going to tip me over the edge, it's so bitty and now I'm over 5000 words and havnt finished yet!!!

    Good luck, I've got cash management on the 19tb April, hopefully it will b ok.
  • Billy
    Billy Registered Posts: 21 Regular contributor ⭐ ? ⭐

    Hi they only asked for the value of y by calculating X.



    Yes it was the same format as asses 1 and 2. Try and get good marks on the written questions and use percentage information when detailing the variances. I did better on the written side than tasks 2 and 3.



    I feel like this project is going to tip me over the edge, it's so bitty and now I'm over 5000 words and havnt finished yet!!!



    Good luck, I've got cash management on the 19tb April, hopefully it will b ok.


    Thank you once again, and good luck with your project. I think with regards to your project you can exceed the word count by at least 10%, well that was what i was told when i did mine.

    Are you basing it on a case study? or your work place?

    Hope it goes well for you.

  • klbookkeeping
    klbookkeeping Registered Posts: 37
    I did the case study, have finally finished it today I just need to put in my summary. What date is your exam? Really hope you pass. Am going to email my project tomorrow and see what happens, fingers crossed!!!
  • Billy
    Billy Registered Posts: 21 Regular contributor ⭐ ? ⭐

    I did the case study, have finally finished it today I just need to put in my summary. What date is your exam? Really hope you pass. Am going to email my project tomorrow and see what happens, fingers crossed!!!

    That's great to hear, hope it comes back competent. My exam is tomorrow afternoon, I hope it's similar to practise assessments, as I seem to be okay with them.. Once I get home tonight, I shall do assess 1 on AAT website myself, and see how I do.

    Thank you, and I hope it does go well, good luck with receive ing feedback for your report, you should be fine.
  • klbookkeeping
    klbookkeeping Registered Posts: 37
    Good luck for tomorrow, let me know what you thought about it
  • JohnPj
    JohnPj Registered Posts: 38 Regular contributor ⭐ ? ⭐

    Good luck for tomorrow, let me know what you thought about it

    Billy said:

    I did the case study, have finally finished it today I just need to put in my summary. What date is your exam? Really hope you pass. Am going to email my project tomorrow and see what happens, fingers crossed!!!

    That's great to hear, hope it comes back competent. My exam is tomorrow afternoon, I hope it's similar to practise assessments, as I seem to be okay with them.. Once I get home tonight, I shall do assess 1 on AAT website myself, and see how I do.

    Thank you, and I hope it does go well, good luck with receive ing feedback for your report, you should be fine.

    Good luck tomorrow!!!!!! All the best !:)

    Let me know how it goes :)
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