Pre-release Material

Dimps92

Please can someone tell me I can find the pre release material on the AAT website.....I dont know if i'm just being a plonk but I cant locate it!

Thanks

Norvydas

@Dimps92

Log in to AAT Website, then you should have an option to Access Study Materials, click on that. Then choose the level & unit, in your case Level 4 Professional Diploma in Accounting -> Professional Synoptic. There you will find Green Light Tests, mock exams and pre-realese material for live exam.

Before reading pre-release material make sure you select the right one!! As there are Pre-Released materials for MOCK Exams and Pre-Realesed materials for LIVE exam!

Dimps92

@Norvydas yes thank you! I was looking in systems and controls for some reason!! Thanks again

Norvydas

@Dimps92

No worries Good luck!

Dimps92

@Norvydas thank you! Have you taken the exam? If so how did you find it? Any tips?

Norvydas

@Dimps92

I've completed my Level 4 in December (I have passed Synoptic on my 2nd attempt). The exam is difficult, the most difficult part is the wording of the questions, as you're never certain what exactly the examiner is asking you to do, so you've to write as much as you can and about everything you think the question might relate to. The most important advice I have is to refer to your companies pre-release material. In each written question, refer the pre-release material to the question, if for example the variance is adverse you could write; as per pre-release material we can see that the "Material" variance is "adverse" this could be because....
Usually pre-release material have hints such as "company has been struggling to have enough skilled labour or the normal supplier ceased trading etc" and if you come across a question where it asks you to analyse materials or budget plans you have to incorporate this into your answer.
First time I've taken the exam I barely refered to pre-release material, however on my 2nd attempt in every question I wrote a little bit about pre-release material. Another tip, is to have a good knowledge of the units as a whole, be confident with budgets, with various calculations and most importantly practise written questions! Make sure your answers are structured and written in clear manner that someone who's not working in the finance can understand what you're talking about.

Dimps92

Thank you @Norvydas i greatly appreciate your help

Iulia

I will have my professional synoptic exam in November and I don`t know were to start from. I am really stressed at the minute. Can I ask how this pre-release material is working. Will be the same scenario from the aat website or I will have a new scenario on the exam date?Do I have the chance to read the scenario before the exam time count down? I am a foreign and I would like how other foreigners find the writing tasks? Can I please have some hints from your experience?Thanks

Pian32

The scenario will be the same as the one on the AAT site. Ruby Dale LTD.

All the questions in the exam are based around the company so you can use the material in any question to improve your answers

Emmalouise18

I have just passed the synoptic with 77% (2nd attempt) and the first time I got 53%.

I recommend referring to the pre release material as often as you can. I made some notes below on the pre release of Rubydale -


Fashion Business
Fast-moving environment, heavily influenced on consumer disposable income and economic conditions
Economic uncertainty in the UK and Europe caused by political events. 42% of sales are generated by the UK (with its economic uncertainty, not good). The fast-growing business also leads to mistakes in the internal control system. May need to review/renew policies.

The company is committed to corporate and social responsibility, yet an opportunity of outsourcing products overseas was suggested by the FD (Joshua Edeki). The triple bottom line needs to be considered, adverse environmental impact, and maybe the quality of the product. The Directors are also shareholders, so maybe Joshua is thinking more about the profits of the company rather than the commitment to corporate social responsibilities. Maybe a bias SWOT analysis.

Rolling budget would probably be best for this company because of the fast-paced environment of fashion
The organisational chart for the employees has ample opportunity for segregation of duties within the accounting and internal control system. (Credit controller, accounts payable, accounts rec, general accs and cashier, payroll) - 5 subdepartments?

Another problem with the SWOT analysis (sorry I have done a lot on this haha) is the opportunity to float on the stock market. It will dilute the shareholding of Ruby Dale and Jack Carey, meaning loss of voting control. Increase pressure from investors to generate profit. Ruby's morals (of triple bottom line) may go out of the window.

I have worked out all of the ratios too, and the following is what i gathered
Profitability:
Gross Profit
Operating profit
ROCE
Profitable company, high GP but lower OP in comparison, due to high costs?

Liquidity
Current ratio
Quick ratio
Inv holding days
Receivable period
Payable period
Working capital cycle
Sufficient current assets to cover the current liabilities. Even when taking out the inventory, the liabilities are still covered. Current assets are mainly made up of inv and trade receivables. Maybe obsolete inv and credit control issues?
Payables are quite high if the standard is 30 days. Need to see what terms are offered. Maybe cash flow issues and maybe overtrading?
Working capital is long for this industry. both long inv time and payable time - can't use suppliers as a form of finance

Financial risk
Gearing
Interest cover
Lower financial risk. lots of opportunities to take out further long term borrowing as the gearing is low at present. May interest potential share investors. Banks would be happy to loan more out with the good finance cover


Hope this helps