OFFICIAL ECR JUNE 2007 THREAD!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Well, we cannot discuss this exam until 5.15pm on Tuesday but i thought i'd start the ball rolling by opening this thread anyway.

Looking forward to hearing everyones opinions tomorrow....


PLEASE FEEL FREE TO PM ME ABOUT THE EXAM!!

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    Come on then how did we think it went?

    I though it was confusing especially with miles instead of products, certainly made me think more about it.

    I thought a few questions were a bit tricky and made me really think about what to do whereas the past papers I'd done were much more straight forward.

    The NPV question was really mean of them too!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I was wondering on the first question of Stock method valuation. What method was used in valuing stock
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I started using LIFO then realised it got too messy at the end, so i went for AVCO.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I used avco as well.

    Lets say if I got the stock method wrong, would I lose marks for the next question on the journal entry.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I think as long as you put the entries in the correct codes and the DR/CR are correct then they wont mark you down for incorrect figures.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I used LIFO as I couldn't get the figures to work properly with AVCO!! Who knows though!! Does anyone know what we should have done on the last question??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    If you have a look at the
    '24 Hours after paper, how did evryone do?' thread
    theres alot on there abut the last question.
    I just deducted all the operating costs year by year showing a balance, then used the PV factors against those balance figures.
    I came out with both machines at at high negative figure though, so I think I did it wrong :-(
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I did the same and recommended the one with the lowest negative value. What did you come up with for the 2 commerical factors ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I did the same!! maybe we could be right if we all came to the same conclusion??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!

    I do know that if the NPV is negative that the proposal shouldnt go ahead. I think it showed something like that in one of the past papers June 06 or Dec 06 cant remember, it was the last question on one of those too.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:OFFICIAL ECR JUNE 2007 THREAD!!!
    haylazy wrote:
    I do know that if the NPV is negative that the proposal shouldnt go ahead. I think it showed something like that in one of the past papers June 06 or Dec 06 cant remember, it was the last question on one of those too.

    This was different though - a ticket machine is a necessary service item for a bus co that doesn't generate income itself & we were asked to recommend which was the better option based on NPC (cost not value). Canny eh!

Categories

Privacy Policy