Task 2 Budgeting

jadexlou
jadexlou Registered Posts: 5
in Synoptic assessment - Professional
Hi Everyone,

I have my synoptic exam 1 week today and I am really struggling. I have read the pre release material and commentary and made my own notes, and revised none stop. I just cant get my head around the budgeting aspect of things (task 2).

I have done mock exams, practice questions, everything! But I just don't feel confident in writing about budgeting. Looking at other peoples comments on the budgeting task it seems that its quite hard to determine exactly what they want from the question...

For example, on practice questions when it says to evaluate budgetetary reporting - is it looking for evaluation of the figures? the type of budgeting used? evaulation of what the budget shows? I just dont get it!!!!!

Comments

  • Norvydas
    Norvydas Registered Posts: 271 Dedicated contributor 🦉
    Hi @jadexlou

    Maybe they are looking for all of the above? All of the points you just said you need to refer in the exam. What budget it is, advantages, disadvantages. Look at figures, adverse variances, favourable, what variances mean, why did they occured? And most importantly dont forget any FIGURES! Each answer has to be based with workings, even if its; the material variance shows £.... adverse variance.

    All of the above points are important in performing well in the exam. Good luck!
    Kind Regards,

    Norvydas Valavicius.
  • VS1
    VS1 Registered Posts: 71
    Also don't forget the top-down approach to budgeting, worth mentioning that.

    Also @Norvydas I have noticed you have been extremely helpful in all the posts relating to the exam, thank you very much for your help, really appreciate you taking the time to help out :)
  • jadexlou
    jadexlou Registered Posts: 5
    Thank you so much!

    hats a massive help, I would never thought of including figures to be honest lol

    Its becoming increasing frustrating trying to get help from my tutors at kaplan and I feel like I am getting nowhere. Their practice questions and answers dont even match so are no use to me at all, so I cant even check if I am on the right path with my answers!
  • Norvydas
    Norvydas Registered Posts: 271 Dedicated contributor 🦉
    No worries :) If you have any questions don't hesitate to ask, there's always going to be someone who's able to help.

    Thanks @VS1 , at the end of the day all of us are/were in the same boat of trying to complete L4. Why not share our tips with eachother, it might make someones life a lot easier :)
    Kind Regards,

    Norvydas Valavicius.
  • Sineadp
    Sineadp Registered Posts: 67
    I have mine tomorrow this is the one im struggling with... after doing all practice papers im still not sure :(

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