FRA - How did everyone do?

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:31AM in AAT student discussion
Just wondering how everyone thinks they did on the FRA exam this afternoon?

I realised as soon as I left the exam room that I had made a huge mistake. I couldnt balance the TB in section 1 by £2000 so I opened a suspense account.... I didnt decrease rent to allow for the prepayment!!! Doh!

Apart from that I think I did ok. Think it was a pretty reasonable exam.

Think the only obvious mistake i made in section 2 was miscalcualting depreciation to allow for the new vehicle/equipment whatever. But, both my trading P+L and balance sheet reconciled so think I did ok (fingers crossed - you never know) I just hope my mistakes dont sacrifice me hopefully passing!

How did everyone else find it???

x x
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Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Hi Silver
    I think it is a fair exam. They have changed the format probably to challenge students. No big surprises.
    I had £2000 as prepaid rent in section one. How did you write section 2.4,?
    Tom
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Hi,

    I haven't used this before! i found FRA hard, but i too had a $2000 suspense account in the TB even though i added the prepayment in! My p and l and balance sheet balanced but i ended up being so scruffy because i ran out of time! that has never happened before in an aat exam!

    Good Luck anyway, fingers crossed for everyone!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    My TB didn't balance either by thousands and I don't have a clue why?!? :-( i had the same problem in my mock exam last week but i still managed to pass that - just! I'm hoping it's a possibility in this one but im not keeping my hopes up! Apart from that everything seemed fine, just hope i didn't mess it up to much!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Which one was section 2.4 Tom? You'll have to refresh my memory!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?
    silver wrote:
    Which one was section 2.4 Tom? You'll have to refresh my memory!!!
    Where it talks about equipment and admin expenses.
    2.4 a) asks you what the difference is
    b)was about what the necessary information is
    c)was about where you can find information to tell the difference
    d)list the accounts affected?
    I was not too sure about b)andc)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    [edited
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    edited
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Im sure no one did as badly as i did. My trial balance was out by 74770!!!!!!!!!! Dont Laugh!!!! When i saw the difference i had i started laughing in the exam, it was unbelievable. On top of that my balance sheet didnt balance, i was thinking of renaming it "the non-balance sheet".

    I thought this paper was a huuuge difference from the past papers which i seemed to do alright on.

    Looks like ill be taking it again in December. Good luck to everyone.

    Chris.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I thought the exam was a real stinker!! Everyone I spoke to on the way out of college seemed to have had problems with P&L and B/S. None of us got the same answer! As for the last part of section 2, where did that come from? By the time I got round to that it was 5.10pm so just had 5 mins to quickly write something. Can't remember what I wrote, I was so stressed about P&L and B/S I probably wrote a recipe or something! Feel certain I will have to retake in June.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I think I did alright... eventually. My trial balance didn't at first but I spotted the mistake. I made a bit of a mess of my balance sheet but again I got it to balance in the end. I was suprised there was no journal or partnership accounts to do though.

    Chris
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    My TB was also out, by £4660.

    BS was un-balanced!

    And that last question, wasnt really sure what it wanted from me.

    But I havnt given up hope, I refuse to believe that i've failed.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Well I dont think anyone could any worse than me :-(

    My TB was out, first it was out by a LOT (wont say how much it was embarrassing) then at about 4:30 I realised I hadnt used the drawing in the current account so I used them and it was out still but by only a few thousand, I did spot the prepayment.

    Balance sheet .... Very UNbalanced ! I was the only one left in the room at the end of the exam. Most people left at about 4:00 ! So they must have had a few clues :( I got off to a horrible start, my mind went blank on working out Discounts recieved, rest of section one I felt quite confident in though.

    I think I'll be resitting in June ... off to drown my sorrows, Im on my second glass of wine now, and think I'll be finishing off the bottle in a minute.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I didn't come out feeling very confident! It was so different to the past papers.

    In the first section my TB was out by £800 - couldn't find it at all so I put in a suspense account!

    I'm not sure if I did the question on Mark Ups right - I totally panicked as it wasn't something I was very confident on to start with - what did everybody else get?

    I didn't really understand why we didn't have to do Journals as we had to put the adjustments in and the questions at the end...what was all that about!!

    Oh well will wait for the answers to appear and see what I got right and what I got wrong!! Roll on February to put us all out of our misery!!

    At least we can all enjoy Christmas now - so have a good Christmas everybody!

    Netty



  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I'm in agreement with everyone else. My TB didn't balance by about £38k, my Balance sheet didn't balance by £79, what was all that about???? I came out feeling as if I had just done an exam (and probably failed it). Seriously, what a difference to the practice papers, I stared at the first question for 20 mins before picking up my pen.
    Wow, ECR & FRA in June 06 me thinks..........
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I got my P&L and Balance sheet to balance first time which i was impressed with! I've always been told that the numbers do not have to be correct as you still get a lot of marks for your method - presuming that is right! My TB was out by 15grand and im guessing it was to do with the discounts bit as i did not understand that and just guessed, can't think anything else it wud have been! Hoping everything else was correct in order to pass - depends how generous the examiners are feeling!
    Anyways i think we should all stop stressing about it, well at least until the results are out! Good Luck to everyone.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I was thrown by the discount received on the first question. Then I calmed down and realised it was OK. I whizzed through the first section but the TB didn't balance....but I followed my tutors advise and left it and went onto section 2.

    I found the fact that you didn't have to actually write journals really hard. I worked out all the adjustments on the 'show your working' page and then realised there were no journals to do. I thought this made it hard as journals make you lay out the adjustments neatly for you to then transfer the numbers to the adjustments column. I triple checked the transfer as I was paranoid that I'd forget to transfer one of the adjustments from the working out page to the column. Also it was annoying because you kept having to flip the page. Then my BS didn't work out but as before I left it and went back to check what had gone wrong in section 1.

    Turned out in section 1 I'd made a silly mistake and written 220,000 as 22,000 DOH! anyway I had used erasable biros so I just changed it and the TB balanced. I then looked at the BS in section 2 to see what had gone wrong and again it was a silly mistake which I corrected.

    I was a bit annoyed with the change in format as it did throw me a bit at first. PLUS the exam room was too hot and the woman next to me seemed to constantly tap very loudly on her calculator throughout the exam. I don't think she was even adding anything up cos she was going so fast, probably trying to put everyone off on purpose!

    Dodgiesgirl
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Just out of curiosity how are you supposed to work out Discounts recieved ??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    well i had a girl who's pen made an awful taping noise every time she wrote and that really started tick me off when the exam started, and her tipex also made a really bad clicking noise every time she used it!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Duplicate post - computer probs
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Hi RuskiI,

    correct me if I am wrong please but didn't I see on this somewhere that you have done 3 exams so far this week? If so, which one did you find the hardest?

    Cheers

    Mandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Duplicate Posts - computer probs
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?
    Ruskii wrote:
    Just out of curiosity how are you supposed to work out Discounts recieved ??
    It is a balancing figure on the debit side of the PLCA account and I got £2130
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Hi Mandy,

    I put a post up saying I couldnt imagine doing 3 exams this week, I only did the one. Sorry for any confusion.

    :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Aaah that makes sense now .. well I failed that Q !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    I don't know who I've done

    I couldn't find £200 to balance my TB, Iknow the spare line was for the accurals figure, (I thought you needed to reverse the accrual in the rent account from the last year) but I only had £800 of the £1000 i reversed.

    The part exchange is a bit dodgey

    But my brain came into action when I was about £200k out on the P&L and BS, but finally i realised that i added the figures not taken them away.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    No problem, me not reading properly, my fault. How did you feel you did today. We all put in a lot of revising over the weekend and obviously before but this paper was so different to the past papers. I'm off to watch CSI New York now, I would rather be forensic pathologist anyway....

    Cheers

    Mandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?
    Ruskii wrote:
    Aaah that makes sense now .. well I failed that Q !
    Sorry about that ruskii, I hope I was right.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?

    Duplicate posts -- sorry for some reason it's posting twice !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?
    DLaccts wrote:
    Sorry about that ruskii, I hope I was right.

    I think you are as that makes a lot of sense, even to my thick brain.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA - How did everyone do?
    DLaccts wrote:
    Sorry about that ruskii, I hope I was right.

    I think you are as that makes a lot of sense, even to my thick brain.

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