Ruby Dale - Synoptic Assessment

AATSM

Has anyone else got their level 4 synoptic assessment this week using Ruby Dale Ltd? Does anything in particular stand out to you on the pre-release material? I have written lots of notes around this but just wanted to see if I had missed anything! Also, how are you feeling about the exam? Good luck to anyone taking the exam this week!

chloewain_

Hi, I have got my exam Friday 13th (unlucky for some! But hopefully not me haha)
Would you like me to send you some notes over regarding the pre-release? I have done a few bullet points below though (just the obvious stuff though)

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.


I am not feeling great about this exam at all, after reading all the failed students comments on this forum haha. I am hoping that if I have a good understanding of all the information, no matter what question comes up, I shouldn't struggle. However, there is just so much to remember!!

When is your exam? And good luck to you too!

AATSM

Thanks so much for all the information! That’s really helpful. My exam is Thursday morning so plenty of revision today and tomorrow! Good luck with yours on Friday, given your notes and your understanding I’m sure you will do well!

I feel ok for the exam at the moment but I wouldn’t want to feel over confident given it’s meant to be a tough one and there’s a lot to try and remember. I’ve heard the best advice given is to try and relate your answers back to the pre release material where possible and this will boost your marks!

What task are you most worried about?

Good luck again!

Kelly15

@chloewain_ Hi there, i am also writing my exam on friday !!! I am so stressed, this will be my 3rd attempt and i just really hope this will be the last. I saw you mentioned you could send some notes regarding the pre-release, could i as you a huge favour and could you send these to me.

I think my problem is that the do not read into the material enough and i just answer the questions in the exam, and dont refer to the company. As I got 66% and 67%, i really feel very negative about this exam.

AATSM

@Kelly15 I would really recommend trying to relate your answers back to the pre release material as much and as best you can. This could be the extra 3-4% you need to pass. My tutor told me this and I’ve also read it whilst scrolling through this forum. Good luck to you on Friday! Mine is tomorrow morning.

Kelly15

@AATSM thank you, i think you are right. I am going to refer each answer that I do back to the material as much as possible and hopefully this will help me get through!! Good luck to you too - what revision have you been doing, i just dont know whether i am doing this whole revision thing wrong too - i just do the questions and because i have done the exams online so many times i feel like i just know the answers which doesnt really help much. I have got all the questions now for Ruby so thought to do all those and go through the pocket notes.

AATSM

@Kelly15 I’ve written lots of notes around the pre release material, mainly on things that stand out the most to me and could potentially be used when answering a question. I really do think if you can relate your answers back to this then you should be ok on Friday! Have you had a look at your feedback from previous exams too? This might help you understand what task(s) you’re going wrong on and can practice to gain the extra couple of marks. I’ve been going over practice assessments too and looking at what sort of answers they are expecting, some of the answers from people on this forum are very helpful too!

Reedy45

chloewain_ said:

Hi, I have got my exam Friday 13th (unlucky for some! But hopefully not me haha)
Would you like me to send you some notes over regarding the pre-release? I have done a few bullet points below though (just the obvious stuff though)

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.


I am not feeling great about this exam at all, after reading all the failed students comments on this forum haha. I am hoping that if I have a good understanding of all the information, no matter what question comes up, I shouldn't struggle. However, there is just so much to remember!!

When is your exam? And good luck to you too!

Is there any chance you can forward me you the notes you mentioned above please?

AATSM

@chloewain_ yes please can you send me the notes over too?

Kelly15

@AATSM how did your exam go today? I am so nervous for tomorrow.

AATSM

I felt like it went ok but I wouldn’t want to be too overly confident just incase! 3 hours goes so quickly when you are sat in the exam room haha. Good luck for yours tomorrow!

Kelly15

@AATSM thank you, did you have any CBA?

Kelly15

@AATSM fingers crossed all went great for you

Dorota_1680

@Kelly15 I had my exam yesterday and I had CBA in task 6.

AATSM

@Kelly15 thank you! Fingers crossed for you today too!

nunu_dann

@AATSM Did CBA question come up? How was Task 2 and 4?

Dorota_1680

I did get in Task 2 a Cash budget with date for 4 Quarter in the table. Did you come across any practice tests to cover Cash Budget ?

Albena33

@chloewain_ please can you send me your notes over?

I am so stressed about this exam because my AAT provider gave me misleading information that i couldn't sit the Synoptic if i don't have the results for all other exams. The only result i still don't have is for one of the optional syllabus. I read here the discussions about this and after i called again, they told me i can actually still sit the Synoptic assessment on 22nd November. So i have only 3 weeks to prepare.

My email is [email protected]

Agnes_05

@chloewain_ can you please forward me the notes you mentioned above?