Paper 7 simulation - Please help with Reports and Returns

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:30AM in AAT student discussion
Hi, everybody. I have just joined the forum. Found it useful. I am asking to help with paper 7 "Reports and returns". Has anyone taken the paper this June? What sort of questions are there? I know, that VAT will be there and apparently - no mistakes allowed in VAT calculation! Also, index numbers and ratios. Anything else?<BR>I have a very strict teacher - she prefer me to re-sit this paper and FRA skills test in August! <BR><BR>I feel quite positive about my exams and not so positive about the Payroll paper level 2.<BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Paper 7 simulation - Please help with Reports and Returns

    Hi - the first item on the paper was incomplete records. Stock was moved from one unit of a company to two other units. No profit is made when moving stock within the same company but it has to be shown in the accounts. You are given the amount of stock issued and one of the amounts received so you just calculate the other amount by taking one away from the other. This information then needs to inserted onto a spreadsheet and then continue with all the caculations.<BR><BR>Also there is questions about VAT, i.e. annual accounting, cash accounting etc. Go onto the Revenue and Customs website and you will find out all the information you need about this.<BR><BR>The VAT form itself is easy enough - you have to deduct a bad debt - I think<BR><BR>You are also asked whether you can de-register for VAT - again look at the Revenue and Customs website for guidance.<BR><BR>Is there anything else you are worried about?<BR><BR>Mary Clare
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Paper 7 simulation - Please help with Reports and Returns

    thank you Maryclare. I had to re-read whole of the BPP book on paper 7, but the most helpful were the simulations. I went through few of them and hopefully, did well on Monday.<BR>At the moment i am doing some preparations to unit 5 skills test. I use FTC book this time. I was given some feedback on where i went wrong the last time, however I managed to forget half of it. I am going to the college tomorrow, my last day and hopefully will get through it - otherwise i will have to re-sit it again in the autumn.<BR>Do you know whether BPP or any other college will allow me to re-sit it for a small fee?

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