Level 4 Synoptic PDSY - Cost Benefit Analysis (Task 6)

FindingNema

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VS1

Hi Nema,

If you log onto AAT portal and look under E-Learning section for Relevant Costing, it should have all the information about costs that need to be considered when deciding to implement a new system. That should help you with the calculation part of the exam, as it explains what costs to consider and what to ignore.

Also for the written element, we need to consider the financial and non-financial benefits of implementing the system.

FindingNema

Hi VS1,

Thank you very much for your help!! I'll have a look at the online portal and hopefully it will tidy up any of my misunderstandings!

Kate95

I had this same question and was gutted because if I had gotten a SWOT analysis I know I would of passed! I’m re sitting on 12th feb for the third time, hoping it’s third time lucky!
Thanks for the advice @VS1
Good luck @FindingNema

FindingNema

Hi Kate,

That really sucks! Hopefully we'll be more successful the next time round, mine is booked for the 12th also - all the best @Kate95 and thanks again @VS1! P.s Kate, if you don't use it already I'd highly recommend the Kaplan revision kit, I'm finding it extremely useful.

VS1

Good luck guys, hope we pass in the next re-sit. I got the SWOT analysis question and still managed to fail.

I am using Kaplan as well and it is very helpful

Kate95

Aw well good luck!! We can both dread the results at the same time haha @FindingNema
Yes I study with Kaplan anyway, I’m just stuck for things to do as I have exhausted all the material (with doing it twice already?)
@VS1 I got the SWOT analysis the first time round and did really bad on it so I focused a lot of my revision last time on SWOT but didn’t get the question??

Good luck guys!??‍♀️

VS1

Hi @Kate95 and @FindingNema , have taken a different approach this time,I have looked at all the E-learning sections for the core units and made notes on these, eg - Activity based costing, lifecycle costing, budgeting, etc. Also looking over the math element (I had task 2 and 4 have numeric questions, which took me by surprise as I didn't brush up on these, because I didn't even think we would be questioned on this topic, my stupidity).

It would be useful to go over the Decision & Control exam paper. I hope I pass the second time, if not, will just have to recycle my notes and hope for better questions

As for SWOT analysis, looking at previous forums, people have revised really well for this but still managed to do bad.

Kate95

@FindingNema @VS1 how are you guys feeling?
I’m stuck for what to do and still feel like I’m no where near prepared for this ??

FindingNema

Hi guys!

@VS1 That's a really good approach I recon, I've just taken the approach of a bull in a china shop and tackled all of the questions physically accessible to me, highlighted every sign question I didn't do well on, and revised the topic, then re-attempted the questions until I can consistently get at least 11/15 or 17/20 minimum on all of the tasks!

@Kate95 I am absolutely bricking it for tomorrow!!!!! I feel as though I have prepared as much as I can, but I am still anxious after failing once already - it's always the fear of the unknown I guess !!! If you don't feel ready for it, maybe try and push your exam to the end of this week to give yourself a little bit longer to prepare? I'm pretty sure we'll still get our results at the same time, so there's no harm I guess My exam is at 2pm tomorrow, when is yours booked for?

VS1

@Kate95 nervous but I am trying not to think about it, just trying to keep myself busy with work and studies.

I am sure you have covered all the material and you will be fine, just be calm and do your best. Key points we need to remember

1) Refer back to scenario
2) For written question - remember Identify, Analyse, explain, think of pros and cons, recommendations.
3) If a question is for certain number of marks, example of 5 marks - Make sure you don't spend too much time waffling about, just answer to the point. If recommendation attracts 2 marks and only asks for 1 recommendation, by listing 3-4 will only waste time.
4) SPAM and SOAP - remembering this will really help with Question 3 and Question 4

Most important of all, have a good night sleep, don't over cramp your mind with information few hours before the exam, you will only make yourself panic.

Now I hope, I take my own advice

Good Luck both of you, we can do this

When results are released, please share them... We are all in this together

VS1

Are you guys looking at time series Analysis?

FindingNema

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Marshy77

Fingers crossed that you've done enough on the other tasks to pass.

Raminta

Does anyone has extra learning material on CBA that could share with me? First intuition books do not provide much info about it.

FindingNema

Thanks @Marshy77 I really hope so!!!
Sure @Raminta if you inbox me an email address you’d like me to send it to I’ve got some bits I can share

Sineadp

@FindingNema hello please could you help with any more information on CBA aswell my exam is Friday ?

Kim123

@FindingNema Hi, please could you send me any information on CBA aswell. It is much appreciated.

Tahminachoudhury

@FindingNema hey, could you please send me any information you have on CBA aswell?

FindingNema

Sorry guys, the info I have is just genereal revision for the entire course from Kaplan which unfortunately has nothing to do with CBA - I wasn’t able to find any material at all for CBA anywhere

Kristina93

@FindingNema would it be possible for you to share your achievement on each task please? I sat the Synoptic Assessment on 14th February and I really do not think it will be a pass.

On task 6 I had the same question as you and did not do SWOT analysis, unfortunately.

Good luck to you, really hope you pass this time!

Vmazzo

Any feedback on the sitting in Feb?

Kate95

Hiya guys, @FindingNema @VS1
Sorry I didn’t check back after the exam, didn’t want to think about it for a little while haha
Mine was the same question again for task 6 as well @FindingNema
I don’t feel like this one went too badly but I don’t want to be fooled into a false sense of security because I felt like the first one didn’t go to bad either ??
Yes please share results ! We will get through this ??‍♀️
@VS1 I didn’t really go over time series analysis, only because it’s not come up on anything previously and it’s not on any mocks I’ve done
Have you had your exam @VS1 ?
?

Marshy77

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VS1

Kate95 said:

Hiya guys, @FindingNema @VS1


I don’t feel like this one went too badly but I don’t want to be fooled into a false sense of security because I felt like the first one didn’t go to bad either ??

@VS1 ?

?

I couldn't agree with this anymore. I had the same feeling last time that I did enough to pass but managed to fail haha.

We will see on 29th March, I am trying not to think too much.

Also managed to get the SWOT again, dodged the bullet again with the CBA question..... Speaking of which SWOT question despite looking much more doable it's still marked strictly, as I got below requirement last time.

I didn't have any questions similar to my first exam but feel it was ok.... Don't want to jinx it

Wish everyone good luck... We can do this

Spreading positive vibes

KingaLegg

Hi,

I have my exam on the 1st of April and absolutelty bricking it! I have been searching info about this Cost Benefit and in my books (Osbourne books) it is expalined fairly well (pages 145-147 of Accounting Systems and Controls Tutorial) also on AAT website within study support 'Managing Changes to accounting systems' there is a nice table which shows Cost Benefit in use .. maybe this will help someone.

FindingNema

Thank you for this information @KingaLegg !! This material is new to me - I guess AAT may have added this as a result of may people complaining about this question perhaps?

Kate95

@FindingNema @VS1
Have you guys had your results through today?

FindingNema

Hey @Kate95!

Yes they did, I managed to pass with 79% which I’m extatic about!

I noticed both of your posts on another forum, really well done @Kate95 with a fantastic 80% and congratulations @VS1 on your wonderful 79% (snap!) !! I’m really happy we all made it after sitting it more than once and conferring together, really happy for you both, congrats!!!

VS1

@FindingNema Yaay, happy for all of us, it was tough but we made it We are all in this together xx

Good Luck for the future @Kate95 and @FindingNema

Marshy77

Not sure how but for the cost benefit question I did reasonably well consider I had no real idea of how to answer the question. I referred to the pre release material and did a calculation which since doing it I know was incorrect. The points I made I referred back to the material and must have been enough to get me an ok mark - but at least I got some marks which I wasn't confident about getting.