remembering unit 6

potsandclocks
potsandclocks Registered Posts: 14 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Hi all I am currently having trouble remembering all the different proforma's and calculations for this unit I try and think of rhymes or saying usually has anyone got any tips to help with this , I would be eternally grateful:thumbup:

Comments

  • sarahwilson
    sarahwilson Registered Posts: 551 Epic contributor 🐘
    I would be interested in any memory aids anyone has on this as well, does anyone know any? If not I shall get to work and make some up!!
  • columbia
    columbia Registered Posts: 573 Epic contributor 🐘
    Is this the unit with Contributions and PV Ratios?

    If so, I made up a silly saying which began with each formulas starting letter, it was Chloe Buys Pink Biscuits Mum Makes Them (said it was silly but my daughter Chloe loves pink biscuits!!) Then I recorded the formulaes onto my telephone and listened to them over the course of the weekend and I found I had managed to retain the information.

    This is what the acronym was for;

    C Contribution = Selling Price per Unit-Variable Costs per Unit
    B Breakeven in Units = Fixed Costs/Contribution
    P PV Ratio = Contribution/Sales Price
    B Breakeven In Revenue = Fixed Costs/PV Ratio
    M Margin of Safety In Units = Forecast - Breakeven
    M Margin of Safety % = Margin of Safety in Units/Forecast x 100
    T Target Profit = Fixed Costs + Target Profit/Contribution

    As soon as I got to my exam I wrote the CBPBMMT onto a bit of paper and found I could easily remember all of the formulas.

    Might not work for everyone, but worked for me!

    Hope it helps!!!!

    Trace

    ps If this was not what you were after and I have got my units mixed up - sorry!!!
  • sarahwilson
    sarahwilson Registered Posts: 551 Epic contributor 🐘
    Sounds good to me, I love acronyms like this it makes it sooo much easier for me.:thumbup:
  • potsandclocks
    potsandclocks Registered Posts: 14 New contributor 🐸
    Thanks for thats its great I knew somebody out there would do the same things as I would do Ta very much :thumbup1:

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