Home For AAT student members AQ 2016 Foundation Certificate in accounting General discussion - Foundation level
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EXAM HELP opening balance UACS

hi
I am sitting my UACS Foundation Exam soon and I'm having problem with the dates on my opening balance.

On Kaplan it tells me to put the accounting start and end date in the financial setting e.g 1/8/2017. which I have done and it then put the date of the last accounts (31/7/2017) for my opening balance as this is what has been carried over from the last accounts! and this is how it is shown on all of Kaplans mock test answers and the book.

however when I've done the mock test on here (AAT) the answers show that I should have my opening balance date the 1/8/2017?? the start of the accounting should also be 1/8/2017

so my question is which on is right and the one that I need to do on my exam?? (as I do not want to fail!)
also what do I put in my account starting date?

hope someone can make sense of this,
thanks abi

Answers

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