pcr help!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
So has anyone got any worderfull tips on pcr they want to pass on? I have just had bad experience in exam where mind goes blank and i might aswell have been doing a crossword with no clues, so I deff have to re-sit in december so want to feel 199% confident about 2morrows exam. <BR><BR>Thanks peeps

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    pcr help!!

    I would love some idea too, Spent ages yesterday going over past PCR papers only to find I am doing them wrong - big panic and no doubt will be up all night trying to sort my head out.<BR>its hard to know what is going to appear on the exam, any advice would be a great help - Will there be any PEV stuff in there do you think?<BR><BR>Elaine - Durham
  • System
    System Posts: 100,534 🤖 Admin 🤖
    pcr help!!

    This may seem like complete overload, but I've cut and pasted everyone's comments and tips about PCR to help me study. I have pasted this for you below, hope it helps!<BR><BR>Section 2<BR>I don't expect the detailed variance type question that appears in unit 8.<BR>But do look at the budgetary control variances that you find when you compare a flexed budget to actual.<BR>I'm also looking out for controllable and non-controllable (fixed) costs<BR>Be ready to produce a marginal costing statement with a different profit from an absorption costing statement in the question. (I do not expect the question to ask for absorption from marginal)<BR>Think about motivating managers and how budgets can be used in a positive way. Don't forget the weaknesses of participative budgeting.<BR><BR>Section 1<BR>It might be a multi-period production budget (I think it will) It might be two product production budget<BR>Then look out for a limit on labour time or on materials and having to adjust the production budget to cope with this scarcity<BR>Then what about ways to forecast, particularly for a product that has had rapid growth in its initial stage but may be entering a period of maturity when sales growth may be more steady. (Product life cycle)<BR><BR>I am sticking pretty much to my run down of what I expected when you came to Croydon.<BR>I think you'll have a production budget (probably one over 4 or 5 periods) but possibly a two product one.<BR>I think this could be followed by a problem of either insufficient material for each period or a similar restriction because there are not enough skilled workers.<BR>I am not expecting the same sort of limiting factor question you had to deal with at intermediate e.g. ranking and then deciding to produce the maximum number of units based on demand - but I think this could appear in the paper under the syllabus as it stands<BR>I also think that it would be worth re-visiting forecasting, and suggest that you look at how this can change depending on how well-established the product in question is.<BR>Sampling is entitled to be tested and perhaps could appear.<BR><BR>In section 2 I think you will be required to re-draw an actual set of results and to compare this with a flexed budget. I think you should be looking to do this in a variable costing format if the querstion gives the details you need AND be ready to identify those costs outside the control the department manager, and treat these separately. <BR>This may then lead into a discussion of the motiovational effects of budgets on departmental managers and the problems and benefits of participative budget preparation. My own class have also looked at Zero Based Budgeting, but I think the chances of this being tested are fairly low.<BR><BR>Under a responsibility accounting statement (and assuming you have the variable actual costs) I recommend that you compare<BR><BR>Flexed budget to Actual<BR>Variable costs<BR>Fixed costs<BR>Non-controllable costs<BR><BR>Might include, Budgetry control variances - compare budget to actual<BR>Marginal costing Statement with a different profit from an absorption costing statement question (see practice exam 5 Osborne Workbook which I've just completed) Motivation of managers and how budgets can be used in a positive way and weaknessess of participative budgeting. Might be multi-period production budget, lookout for limit on labour time or materials, ways to forecast - product with rapid growth in initial stage but be be entering a period of maturity when sales growth may be more steady "Product Life Cycle"<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    pcr help!!

    Thankyou for the advise i will get stuck in now.<BR><BR>Thanks Susan

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