Help me!!
sarahwilson
Registered Posts: 551 Epic contributor 🐘
in Off-topic
Are there any revision courses for FRA or can anyone help me. I keep waiting for the epiphany I had with double entry when all of a sudden it made sense, but its not happening:001_unsure:
I don't struggle with the double entry but the questions might as well be in greek in my text book at the moment. Any tips anybody or am I flapping unnecessarily?
I don't struggle with the double entry but the questions might as well be in greek in my text book at the moment. Any tips anybody or am I flapping unnecessarily?
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hi sarah
i sat fra 4 times and passed on the last attempt in june. i was ready to give up.
all i can advise is do past papers over and over again, i did that and it worked.
i found all of the past papers were asking 'roughly' the same thing, just the names and amounts varied. but all in all they were still the same things i had learnt.
the hardest bit for me was remembering where things went on the balance sheet, the p&l but once i had done a couple of past papers it did click.
hope that helps
Tracy0 -
Thanks Tracey, I am really starting to wonder if it will ever sink in:confused1:0
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it will, as i say all i did was practice, practice and then some more
Tracy0 -
Profit & Loss account holds:- Income - Expenses
All income
minus ALL Expenses (except purchase of assets which are covered by bank, loans etc and appear in the balance sheet)
Balance Sheet:- Assets - Liabilities = Capital
All Assets (Long Term - cars, land etc) + Curent Assets (Stock, Debtors, Bank, Cash)
MINUS all liablilties
Current liabilities (all things we must pay within 1 accounting period - creditors, non trade creditors, VAT - even loans that will be paid up within the year)
Longterm Liabilities
Loans (outside one year)
All that equals.....
Capital or:
Shareholder capital plus profit (or minus loss) minus any drawings.
Does that make sense to anyone?0 -
Thats good I'm going to print that off thank you.0
