costs & revenues exam friday!!!!

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kazcraw
kazcraw Registered Posts: 34 Epic contributor 🐘
in AAT Level 3 (Level 6 in Scotland)
HELP!!! I have the costs & revenues exam on Friday and my mind has gone totally blank!!! I've been sitting here the last 4 hours now reading through my homework and looking at where I went wrong on some of it. I thought I had most of it but have a blank with reapportioning depreciation of plant and equipment and power for production machinery using headcount. Can anyone help please!

Also reapportioning using the step down method where for example maintenance uses the services of the stores?????

I'm feeling really nervous now!

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  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    Hello kazcraw

    Is this question from the practice CBA? Are you sure you are using headcount for depreciation of plant and equipment and power for machinery?

    The reapportionment of the stores to the production centres should have guidance notes on what percentage or how it should be allocated.

    Hope you read this before Friday as I'd like to try and help you.

    Please reply here or feel free to private message me here.

    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • kazcraw
    kazcraw Registered Posts: 34 Epic contributor 🐘
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    Hi Jo
    The question was on homework I had and the apportionment had been made, then we were asked to recalculate the allocations and apportionments using headcount instead of NBV and Power Usage for the Depreciation and power costs.

    The other query I had is in the question bank where the budgeted overhead apportionment and re-apportionment were shown using the direct method. The Maint. dept uses the services of the stores and the FD is considering changing to the step down method. We need to prepare a comparison for the FD. I'm not sure on which part to reapportion first and the answers don't tell me how it is calculated obviously. I've completely forgotten this

    Thanks.
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    Hiya

    You use the same method and substitute the relevant part of the formula/calculation to use headcount. Can you email me the question or scan and email it over?

    The question bank - is this the costs and revenues question bank from BPP? If so, let me know which question and I'll have a look at my book - hopefully it hasn't changed too much as I did this exam in January... which seems a long long time ago!

    Let me know if you want my email address to send the homework question over.

    Thanks.

    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • kazcraw
    kazcraw Registered Posts: 34 Epic contributor 🐘
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    Depreciation of plant &Equipment 1,255,200
    Power for production machinery 850,750

    Production Centres: NBV Power Usage No of Employees
    Treatment 2,750,000 450,500 9
    Moulding 1,500,000 989,000 14

    Total 4,250,000 1,439,500 37


    The question bank question is practice assessment 6 question 1.4

    Hope this is all the info needed. Thanks
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    kazcraw wrote: »
    The question bank question is practice assessment 6 question 1.4

    My CRS question bank only had 3 sample/practice assessments.

    Can you email the question to me. I'll send you my email address in a private message here so check your inbox!

    Thanks.

    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • kazcraw
    kazcraw Registered Posts: 34 Epic contributor 🐘
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    Failed!!

    well I failed the costs & revenues exam in December - re-sitting it in January but have lost all confidence now. Was really hard to get any feedback and am now really struggling with it! Also starting professional ethics this month so will have 2 exams to do!!
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    Hello Kaz

    Sorry to hear your news. Did you not receive a print out with your result that provides so feedback on your performance?

    I understand that this is something new for level 2 and level 3 CBAs and other students can probably tell you more about this than I as all my level 3 were completed before the new feedback was introduced.

    Good luck with the resit and also professional ethics.


    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • kazcraw
    kazcraw Registered Posts: 34 Epic contributor 🐘
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    feedback

    Hi

    No it was a real struggle to get feedback, the tutor kept telling me to find it out and I had to get information from this website and forward it to her telling her how to get it!!!!!!! All I got was an email from my tutor telling me what I exceeded at, what I met and what I didn't meet and that's all. No support whatsoever - not best pleased!!!
  • KaySarah
    KaySarah Registered Posts: 215 Beyond epic contributor 🧙‍♂️
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    I can't help but agree that the "Feedback" after Exams from the AAT which follows an exam is inadequate where it only gives you the Exceeded/Met/Didn't Meet (I too received this after my ITX)- it would be so much more helpful if we received the results in the same way as the Greenlight - with Green Ticks and Red Crosses with answers and workings so we could learn from our mistakes.
    Good Luck with your C & R - I know where you're coming from - mine is in 2 weeks time and I had forgotten everything we did in Class too.
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
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    AAT are far more informative than most, and far more informative than they used to be.

    Exams were held twice a year (only a couple of years ago)
    You prepared as best you could, and you attempted the exam

    You either passed or didn't

    Something has crept into the AAT qualification lately that might devalue it. Now that candidates can re-sit and re-sit until they pass (or run out of money), it means that some candidates are using the exams for formative assessment. In other words, [list=1=[*]having a go[*] seeing how it goes[*]spotting areas that need more work[*]working on them[*]having another go[*]and so on[/list]

    Now put yourself in the role of someone recruiting prospective accounting technicians to work for you. Can you see that some of these have a go, have another go exam candidates will have the same qualification as other applicants who approached the exams as things only to attempt when fully prepared, and passed them.

    Do you see a flaw within a qualification that might include people who are not as proficient as you?

    I encourage you to build up to your exams in the way the Olympic athletes are preparing at the moment. Use practice tests, look at old paper exams, take part in quick fire question and answer sessions with other candidates. Really put yourself through the mill. Then sit the exam (and nail it). These Olympic athletes have years (if they are lucky) before they get another chance at Olympic Gold. There isn't a course tutor there to take another entry fee and arrange a test in 3 weeks if they miss out because they were not on the top of their form on the day of the race.

    I know KaySarah, and her class will go through hell, but they will be prepared. I promise. I like to think of the exam as sumative the ultimate point of the whole course. The practice runs come before the exam.
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • KaySarah
    KaySarah Registered Posts: 215 Beyond epic contributor 🧙‍♂️
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    SandyHood wrote: »
    AAT are far more informative than most, and far more informative than they used to be.

    Exams were held twice a year (only a couple of years ago)
    You prepared as best you could, and you attempted the exam

    You either passed or didn't

    Something has crept into the AAT qualification lately that might devalue it. Now that candidates can re-sit and re-sit until they pass (or run out of money), it means that some candidates are using the exams for formative assessment. In other words, [list=1=[*]having a go[*] seeing how it goes[*]spotting areas that need more work[*]working on them[*]having another go[*]and so on[/list]

    Now put yourself in the role of someone recruiting prospective accounting technicians to work for you. Can you see that some of these have a go, have another go exam candidates will have the same qualification as other applicants who approached the exams as things only to attempt when fully prepared, and passed them.

    Do you see a flaw within a qualification that might include people who are not as proficient as you?

    I encourage you to build up to your exams in the way the Olympic athletes are preparing at the moment. Use practice tests, look at old paper exams, take part in quick fire question and answer sessions with other candidates. Really put yourself through the mill. Then sit the exam (and nail it). These Olympic athletes have years (if they are lucky) before they get another chance at Olympic Gold. There isn't a course tutor there to take another entry fee and arrange a test in 3 weeks if they miss out because they were not on the top of their form on the day of the race.

    I know KaySarah, and her class will go through hell, but they will be prepared. I promise. I like to think of the exam as sumative the ultimate point of the whole course. The practice runs come before the exam.

    Point well taken Sandy. I fully understand where you're coming from.
    Yes my fellow classmates & I have been to hell and back this past week. I have reread all of the work we did in class & reworked some examples - I have rewritten formulae using multiple coloured pens (my diningroom table is littered with khoki's, highlighters, pencils, carefully scribbled notes and a forest of paper) - I have covered the whole lot up and recited equations like a Mantra.

    I only hope I can do justice to your Faith in me Sandy as exams (apart from English) have never been my forte.
    I will do my utmost not to let you down.
  • Sulew17
    Sulew17 Registered Posts: 174 Dedicated contributor 🦉
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    SandyHood wrote: »
    Something has crept into the AAT qualification lately that might devalue it. Now that candidates can re-sit and re-sit until they pass (or run out of money), it means that some candidates are using the exams for formative assessment. In other words, [list=1=[*]having a go[*] seeing how it goes[*]spotting areas that need more work[*]working on them[*]having another go[*]and so on[/list]

    .

    I totally agree with Sandy on this point. Our college tutor usually only allows one resit per exam (unless there are extenuating circumstances / good reasons for failing), any more than that and she won't let you continue because this (as Sandy says) devalues the qualification and can make it harder in the future for us to get jobs as the qualification will not command the respect it does now.

    Luckily I've passed all my exams first time (Level 2 plus CRV & CMGT on Level 3) and hope to continue to do so! One thing to remember though - it's not just about passing exams it's about being competent to actually use your knowledge in your working life!
  • mupp
    mupp Registered Posts: 12 Regular contributor ⭐
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    Hello,
    I do agree with Sandy, but at the same time I found that Costs and Revenues exam was very hard and very different from all the test exams etc. I can see why people would struggle and have to resit exams; sometimes several times - not meaning that they take the exam as a "formative assessment".
    I myself did pass this exam, but after finishing it, I did not feel confident at all! I was surprised to see that I had passed. I did rewrite all the chapters through and tried to understand the topics, but was still really thrown at the time of the exam...
    Suggestions to kazcraw
    Try and rewrite and think through all the chapters
    Write down formulaes and try to remember and understand them
    Stay calm whilst doing the exam; There was two questions in the first section that really got me confused so I just left them, flagged the questions and finished them after I had gone through the rest of the questions.

    Good Luck!!
  • Sulew17
    Sulew17 Registered Posts: 174 Dedicated contributor 🦉
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    mupp wrote: »
    Hello,
    I do agree with Sandy, but at the same time I found that Costs and Revenues exam was very hard and very different from all the test exams etc. I can see why people would struggle and have to resit exams; sometimes several times - not meaning that they take the exam as a "formative assessment".
    I myself did pass this exam, but after finishing it, I did not feel confident at all! I was surprised to see that I had passed. I did rewrite all the chapters through and tried to understand the topics, but was still really thrown at the time of the exam...

    I agree that it was a horrible exam and very different from all the practise assessments. I also passed but have no idea how! Our tutor has said that if the resits are as bad she will probably ignore her rule about only one resit! Well done for passing too.
  • mrb82
    mrb82 Registered Posts: 147 Beyond epic contributor 🧙‍♂️
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    I'm really not looking forward to this! Have it on 24th Jan and have been learning it since September! Our tutor is going with the "teach the entire syllabus in Technician detail" method! My brain is fried and I am really worried about it!

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