ACPR level 3 Exam

Bass
Bass Registered Posts: 2
in AAT Level 3 (Level 6 in Scotland)
I'm finding Accounts Prep a challenge throughout this level, mainly with question 2, 3 and 5. These Accruals and prepayments questions are really testing me now lol. I've got my exam in 2 weeks and I'm bricking it!! :( Can anyone give me any tips or feedback regarding this.

Comments

  • grimboon
    grimboon Registered Posts: 5
    Just keep at it. I passed mine today, and what really helped was the Kaplan Exam Kit book, as there are a lot of exam-style questions to help you get a grasp of it. It might be a bit late for you to get the book in time now.

    Accruals and prepayments are a bit fiddly, but the gist of it is that you only want to transfer the income/expenses to the statement of profit or loss for the given period.

    Are you still having problems?

  • Bass
    Bass Registered Posts: 2
    Finally aced it mate, got tax tomorrow. I always get the challenging adjustments. I'm still not confident if you get a adjust mentioning deposit. Does the Vat on deposits go in box 1 fig and the net amount go in Box7? And also say you get bad debt is bad debt only included in box 4. what if it says bad debt is 100 excluding vat. will 20 go in box 4 and 80 go in box 7? or will bad debt always be worked out in vat?

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