Cost and Revenue Exam HELP!!!

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stephleedz
stephleedz Registered Posts: 179 Beyond epic contributor 🧙‍♂️
in AAT Level 3 (Level 6 in Scotland)
Hi Everyone,

I am new to the AAT Forum in that I have never used it before but not new to the AAT as I am currently doing/about to complete Level 3 Diploma. I was hoping people who have done the Cost and Revenue exam (CRS) would be able to help me with regards to what they thought of it and the questions that appeared in their exams? I am currently studying with Kaplan Financial. Any advice would be greatly appreciated?

Steph x

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  • AAT Level 3
    AAT Level 3 Registered Posts: 75 Epic contributor 🐘
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    I would love to know too Costs and Revenues seems to be the most material to take in within a short space of time.
  • stephleedz
    stephleedz Registered Posts: 179 Beyond epic contributor 🧙‍♂️
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    I did this exam this morning and passed. Actually last exam of my level 3. In my particular exam i had a question on apportionment, although I did not actually have to complete issues/receipts table using FIFO/AVCO I was given number of items purchased, unit cost and total then asked a question to work out what the balance would be if AVCO and FIFO. also asked
    About OAR and whether using budgeted and actual they were over or under absorbed. Definitely need to make sure you know all formulas...Breakeven unit, Breakeven £, Requires Profit, contribution, margin or safety etc.

    Hope the above helps? Any questions I'll try my best to answer.
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    Don't forget short/long term decision making, limiting factors, NPV/NPC and IRR to name a few extra topics.

    Download old unit 6 papers from the AAT website for extra question practice.

    Good luck!
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin

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