Process Account

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I am very very worried that the Process account is going to pop up in this exam. Has anyone got any tips on remembering things for the Process account as I really don't think I've revised it enough? Many thanks, and good luck to everyone.

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Account

    Hi Laura.<BR><BR>The one thing I had to remember was that the output unit cost is Expected Cost (which takes into account anything gained by selling the scrap) / Expected Output. If there is a scrap value, then normal loss is shown as the scrap value. If there is no scrap value, then normal loss is valued at £0. The rest is just a 'T' account!<BR><BR>Hope this helps.<BR><BR>All the best this afternoon.<BR><BR>Mike<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Account

    Many thanks Michael, much appreciated. Best of luck to you too!

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