Manufacturing & Trading P&L

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reddwarf
reddwarf Registered Posts: 528 Epic contributor 🐘
in AAT Level 3 (Level 6 in Scotland)
I notice in Osborne books for ECR there is a chapter on the above but none of our lectures have been on this subject and none of the exam papers I have done so far (all but two) ask questions on this topic.

Is it possible it may come up at some point in an exam, even just a question on what goes where??

I'll be revising it never the less!

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  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    Are you sure.. a whole chapter? P&L was FRA I thoguht?
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    reddwarf wrote: »
    I notice in Osborne books for ECR there is a chapter on the above but none of our lectures have been on this subject and none of the exam papers I have done so far (all but two) ask questions on this topic.

    Is it possible it may come up at some point in an exam, even just a question on what goes where??

    I'll be revising it never the less!

    I read up on this yesturday myself its pretty straight forward but have been through all the exam papers i havnt seen it once (but there is always the chance it might come up) i had the same thing happen last year with the FRA my tutor didnt cover a question luckly i had looked it in it.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Esme wrote: »
    Are you sure.. a whole chapter? P&L was FRA I thoguht?

    its in chapter 8 costing book ECR :001_smile:
  • Bookworm55
    Bookworm55 Registered Posts: 479 Dedicated contributor 🦉
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    I think it's just a case of your cost of goods sold being composed of different things:

    Manufacturer: direct materials, direct labour, direct expenses

    Trader: purchases
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    There is the issue of manufacturing profit so that you can see if your production process is profitable - goes on and comes off later - just need to review that too I think.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Funny thing is my tutor said the same about process costing that it isnt in the exam a lot but we have covered it this year
  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    It seems it wasn't in the syllabus until the past few years and then it wasn't tested so the colleges moaned about that, so then it got tested! I think it would be risky strategy not to revise it!!!

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