Pev exam

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:24AM in AAT student discussion
Hi,
It is just me or did anyone else find PEV quite hard! I certainly didn't find it easy!

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    you'r not alone. I found section one was a nightmare. I panicked a little and forgot 3 of the variances. Which was horrible. The other 2 questions are also horrible. The section 2 was okay. I think I have done enough to scrap through. i only hope that the first section will not be marked as hard. finger and toes crossed. Now i have to live with this thought for the next 2 months.
    Next exams on Wednesday!!!!AAAAAAAHHHHHHHHH!! and next Thursday!!!!!!!!!!
    lollypops
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    Good luck with your other exams, glad I am not alone on thinking this one was difficult!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    I thought this one was difficult too. The wording of the indices question threw me a bit and I'm not sure I answered it right. The foreign exchange one was also a bit nasty.

    Thought most of Section 2 was OK though. Its the waiting bit now I hate. Oh well, roll on PCR on Thursday.

    Good luck to you.

    Susan
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    Hi

    When i first started I read through the questions and was really confident thinking the questions were quite easy..... until I actually did them! God were they long winded???

    Got 5% decrease on currency decrease. With half and half split on the variances.

    Did everybody notice that the standard price card was for 1000 units in section 1? So divided them to get labour/materials per unit? Please say yes!!!

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    Ooops, I'm sorry Jo. Bad news I'm afraid :/

    Its not a 5% decrease.

    GBP has in an increase of 5% which means USD has a 4.76% decrease relatively.

    I got 6500F for material price variance.
    3095F and 3405F from exchange rate and supplier price, cant remember which way round, but I do have workings to back it up, and it adds reconciles too.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    Ooops, I'm sorry Jo. Bad news I'm afraid :/

    Its not a 5% decrease.

    GBP has in an increase of 5% which means USD has a 4.76% decrease relatively.

    I got 6500F for material price variance.
    3095F and 3405F from exchange rate and supplier price, cant remember which way round, but I do have workings to back it up, and it adds reconciles too.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    in first month the dollar was worth $1.80 to the pound
    in the next month the dollar was worth $1.89 to the pound

    there was a decrease of $0.09 which is 5% of the original dollar value. at least thats what i think it is. if it is wrong i'll just have to hope they give me marks for effort!!!! ha ha ha!!!

    how did you get the 4.76%?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    in first month the dollar was worth $1.80 to the pound
    in the next month the dollar was worth $1.89 to the pound

    there was a decrease of $0.09 which is 5% of the original dollar value. at least thats what i think it is. if it is wrong i'll just have to hope they give me marks for effort!!!! ha ha ha!!!

    how did you get the 4.76%?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    I thought you had to work out what one dollar was in pounds, then work out the percentage decrease. That gave me 4.76%.

    Either way most of the method is the same so I would imagine you'd get points.

    I can't remember my figures for the variances but they were both three thousand something pounds. The memos in section 2 mean that I can't remember a lot of what I did it section 1. :-)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    Hi

    I just did 1.80/1.89*100, and got 95.23, This told me that 1.80 was 95.23% of new price so took this from 100% and got 4.76, don't know if this right

    D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    oh i see where your coming from there, I agree that the methods were similar either way so marks should be awarded.

    my hand hurt after the exam, loads of writing needed. found that I was jabbering on a bit tho.

    did you say not to include the variance due to dollar decrease in the report?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    I said to include the variance in the report but also to state whether a standard rate had been used in the accounts and therefore whether a year end adjustment for exchange rate would have to be made.......??????

    Debs
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam

    I found it hard too. Got really confused in Section 1 and kept re-calculating everything. And the foreign currency question totally threw me. Worked out the percentage but not the variances. I think I did ok in Section 2 though and could have gone on for ever if I thought it made any difference!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Pev exam
    Jo030584 wrote:
    in first month the dollar was worth $1.80 to the pound
    in the next month the dollar was worth $1.89 to the pound

    there was a decrease of $0.09 which is 5% of the original dollar value. at least thats what i think it is. if it is wrong i'll just have to hope they give me marks for effort!!!! ha ha ha!!!

    how did you get the 4.76%?

    Thats what I did. It made sense if you think about it because if you can buy more dollars the pound is stronger and therefore the dollar weaker, and the question said something about the dollar going down, so 5% was correct.

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