level 4 synoptic

AyandaB

hi
can somebody please help me with how to tackle task 2
i cant seem to get a grasp of it ,any tips would be helpful TIA

Pian32

In Task 2 you will be presented with a budget and maybe the related variances. Questions will be based around the budget given and whether it's suitable for the company.

You will want to look at the claims/queries made and answer in the context of the budget given and if you feel there is a more appropiate budget then that as well.

This allows you to compare and contrast the 2 budgets and explain why you feel one or the other is better for the company. (Great chance to reference pre release material here).

If you need to do any calculations include them in your answer to show where figures have come from.

Make sure whenever you talk about something new you explain what it is. Pretend you're talking to someone who is intelligent but doesn't know about this topic.

Emmalouise18

AyandaB said:

hi
can somebody please help me with how to tackle task 2
i cant seem to get a grasp of it ,any tips would be helpful TIA

I went back to budgeting mock exams and practiced the written questions over and over again on MyAAT and in Osbourne books/ Kaplan books and also BPP Books. Practice the layout, structure and get used to the questions again. Budgeting was the 1st exam I passed and The synoptic the last exam I passed so I did forget some of budgeting.

Do flash cards with all different types of budgets on (master budget, incremental budgets, fixed budget, flexed budgets etc) - write the definition of each budget, what it entails, then pros and cons to each. Learn these back to front as examiners give you marks for identifying which budget is used, and also more marks for suggesting which budget the business would benefit from.


When answering written questions, its important to structure your answer otherwise you may go off topic and this will not get you any marks. The key to written questions is below:

Use a definition-> Explain the definition -> make your point -> explain your point -> use examples and explain these examples -> then link your answer back to the question asked.

This shows the examiner you fully understand the question and your answer is confident. Never leave the examiner asking questions, if you read your answer and you have questions then so will the examiner and you haven't explained this enough.

Its quality of writing not quantity.

Treat the examiner like they know nothing, like your teaching them!

Any more help let me know I got 'met' in written questions by using this above advice. Passed my synoptic last October and became fully qualified. x