Budgeting Exam

Hi,
Can anyone tell me if they have taken the exam recently and if they found it harder than the mock exams on the AAT website or if the question formats differed at all? I am due to take mine Friday and just having a little panic!
Thanks
Becky

Comments

  • TurkishTurkish Registered Posts: 8
    Hi Madronya

    I found Budgeting was an easier version of MDCL, if you attempted and passed MDCL you will no problems.
    Variances are definitely the most tricky task in the exam, but a bit of practice and you will be fine.

    Good Luck
    Pian32
  • MadronyaMadronya Registered Posts: 6
    Thanks but I haven't done that module yet! Maybe I am attempting the modules in the wrong order!
  • TurkishTurkish Registered Posts: 8
    To be hones MDCL is a tough one so maybe I did them in the wrong order haha, again swot up on variances, there are videos on YouTube 'LSBF TV Budgeting' they are brilliant. I strongly recommend you watch all of them more than once while practicing questions.
    Don't expect to get things right first time that is what learning is all about.
    It becomes clearer the more you look at it, I promise.
  • MadronyaMadronya Registered Posts: 6
    Thanks that's really useful, I have had a quick look at the youtube videos and will look in more detail this evening .
  • TurkishTurkish Registered Posts: 8
    You’re welcome, I found the best and easiest way to learn variances was the method they used on there. My actual teachers method was to long, to scrappy and wasn’t quite clicking.
    Anyway good luck with your exam.
  • Harry_1998Harry_1998 Registered Posts: 10
    Hi
    Which question did you find most difficult in the exam?
    Also how would you go about answering Q 4 ,8 which are the written tasks.

  • TurkishTurkish Registered Posts: 8
    Learn to speak the AAT’s language is my best advice what I mean by that is study the written questions in as many mocks as you can, look at the layout the language and the marking scheme don’t wast time writing to much just make it relevant short and sweet. Throw in calculations to back up your answers and back up every point you make with ‘this is because.........’ you get marks for identifying and you get extra marks for explaining.
    Good luck
  • Harry_1998Harry_1998 Registered Posts: 10
    Also How would i calculate production and operating budgets in Q3 of the question.
  • Pian32Pian32 Registered Posts: 33
    You shold be given basic information. Selling price, production requirements, other costs (and behavior). You'll need to use this with the number of units that are expected to sell to produce the budget.

    E.g Budget revenue = N(units) * Selling price.
    Material budget = N(units) * material unit cost

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