Struggling with this topic
KB93
Registered Posts: 1
I have already sat this exam once and failed only by a few marks, i struggled on my costing exam in level 2 but im now struggling with this one. I find it difficult to try and remember all the equations you need for most of the questions. just wondering if anyone has any advice or tips for this exam at all?
0
Comments
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Look at what the equation will tell you, look at each segment - learn to rearrange equations.
A simple one to start with is the accounting equation.
Assets = liabilities + capital.
Rearranged becomes
Assets - liabilities = capital.
Sounds like I'm teaching to suck eggs. But if folk spent some time on algebra much would become easier to understand.
A costing paper example -
Find the PV of £300 payable in 2 years with an investment rate of 5%
Using the compound interest formula.
V = x(1+r)^n
300 = x(1+0.05)^2
You can rearrange this to get the PV (x)
X = 300 / 1.1025
PV = 272.10.
To verify plug that into the compound formula -
272.10 (1+0.05)^2 = 299.99 (Rounding issue )
But yeah, learn some algebra.
I've likely not helped at all!!0 -
Do lots of practice questions and sample papers, attempt the questions and use the answers to see where you went wrong and rectify yourself. The AAT Sample Assessments on the website are really useful. By doing this you will know how the exam will be/is likely to be presented and answer questions with ease.2
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