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Help with Ruby Dale Ltd - exam next week
chloewain_
Registered, AAT Student Posts: 42
So I know that task 3 is all about SWOT. Identifying weaknesses etc. However, the pre-release material already has a SWOT in it, I havent come across any practice exams that had this. Do this mean that on question 3, we defo won't have a SWOT and if so, what will the question be on?
Thanks in advance
Thanks in advance
0
Comments
No there is still a very good chance that there will be a SWOT analysis. The previous pre -release had a SWOT analysis included but was still tested in the exams.
The SWOT analysis that AAT provide on the company is a basic one, you should try and do further analysis on this before the exam. I have one I can send you over if you like? It is quite detailed
Thank you for your help guys @reeceaustin123 @ChrisReeve
Another type of question I've see a lot of in Task 6 is the find 2 weaknesses and analyse them through different parts of the question. e.g what problems, how to solve etc.
Task 6 is definetly the hardest to pin down in what could come up.
They have only changed the pre-release material but not the Learning outcomes of each task!
According to AAT Professional Diploma in Accounting Qualification specification V5 2019 (found on MyAAT study resource PDSY) Task 3. tests Accounting Systems and Controls; LO2 Evaluate internal control systems and LO3 Evaluate an organisation’s accounting system and underpinning procedures.
In English this means apply your knowledge based on the scenario given and highlight strengths and weaknesses.
Question everything!
This could be a Payroll process, Purchasing process, Sales Order process. I wouldn’t be surprised if AAT took away the familiar Task 3 table (Weakness – Recommendation) we have seen in the practice papers CBT 1 and CBT 2. There could be a drop down multiple choice question, extended writing box that looks different etc.
But I believe the table will still be there – Task 3 is still examining the same outcomes, so don’t get put off if the question looks/feels different.
Task 6 tests everything!!! Accounting Systems and Controls LO1, LO2, LO3 and LO4. Financial Statements of Limited Companies LO1. Management Accounting: Budgeting LO3. Management Accounting: Decision and Control LO4 and LO5.
We are familiar with SWOT appearing in Task 6. And the random Cost Benefit Analysis that Learning Providers have little or no study material on nor practice questions. It begs the question whether AAT fully informed Learning Providers that this would be tested on...
Study everything so you have an awareness of each topic and how you would apply it to the scenario given – it appears that we are not tested on every detail of every accounting tool and need to remember every detail of that tool but more so on what tool to use, apply and why.
I’m expecting Cost Benefit Analysis, Net Present Value, SWOT Analysis, Ethical and Sustainability issues in Task 6. Even another grid/box we see in Task 3…
Good luck!
*I have not sat any live PDSY exam so I am clearly not discussing any live content. Thank you.
If the question talked about the rent for a room that you have even without the change then it's irrelevant but if it was a new rent just for a server then it would be a cost for the CBA.
The 'lost' part would relate to training as during training the work that could have been done in that time won't be so the workers wages (and any NI) would be lost.
This is an area I'm reading up on for the exam next week but that's what I've gathered about it.
Many thanks
I have attempted a different approach to my answers for questions 2 and 6 each time but I am just getting significantly below, I just do not understand how we are supposed to complete these tables that are given.
Thanks
I got 53% aswell on my first attempt, and then 77% on my second attempt. I wasn't good at writing either but followed the below theory:
Make your point, use a definition, explain your point, use an example and the link this back to the question.
I used to get below requirement on all written questions until I used the above method. I got 'met' on the synoptic written questions after using the above method.
If i keep practicing all mock sample assessments on aat web and in books ? Will it help me ? Beacuse i keep fogettinh everything after reading .
I sat the synoptic first time just to see what it was like, as the layout is different and the style is different. My college paid for my exams so it didn't cost me. Yes, I didn't pass it but I needed to see what it was like first.
The best way I found to remember things was to do flash cards and test myself 3,4,5 times a day. Make them colourful and highlight key words to make them stick in your mind.
I used AAT online resources, BPP Books, Kaplan Books also. I revised 3-4 hours a night plus all day Saturday and all day Sunday for about 2.5 months for this synoptic (2nd time round) and passed it.
Let me know if you need any more advice
Thanks
Ok thank you for your response.
Task 6 SWOT Analysis/ Cost Benefit Analysis..
Either one of these questions can pop in the exam. I have some notes below based on my personal experience.
Cost Benefit Analysis...
This is basically a question that tells you about a system or a company, and then goes on to say about potential changes the company are thinking of implementing. These changes could be something like a new accounting system, a new sales system, a ordering system etc.
It wants you to list all the costs of the new proposed system and compare these against all the benefits of the proposed system. Costs are split into 2 different types which as tangible costs and intangible costs:
Tangible costs are things such as:
Cost of new system
Cost of installation of the new system
Cost of staff training on the new system
Any annual costs of new system such as subscriptions/renewals
Intangible costs are things such as:
Cost of staff not doing work due to staff training
Cost of staff making mistakes due to getting to grips with new system
Cost of time spent training staff on new system
Tangible benefits:
Repeat business
Increased revenue/profits
Less errors/mistakes
Intangible benefits:
Improved customer service
Improved customer satisfaction
Improved staff satisfaction
The Kaplan Synoptic book has good examples of tangible/intangible costs and tangible and intangible benefits.
It wants you to explain the costs and compare these with the benefits. It then asks your opinion on whether you think the proposed costs outweigh the proposed benefits or whether the proposed benefits outweigh the proposed costs. Also give examples to support your answer.
SWOT Analysis...
A SWOT analysis asks you for a Strength/ Weakness/ Opportunity / Threats.
It will give you some information to read and you need to pick out a strength, weakness, opportunity and threat.
Both strengths and weaknesses should be internally while opportunities and threats should be externally.
Strengths could include:
Secure credit control system
Good at chasing debts
Increased Sales Revenue
Long standing company
Weaknesses could include:
No segregation of duties for staff
No checking of calculations before making payments
No approved supplier list for ordering
Opportunities could include:
Expanding the company to other towns/countries
Launching new production lines in other categories such as perfume/ jewellery (Rubydale currently do shoes and bags)
Could potentially join partnership with other companies
Threats could include:
Other companies within the market launching the same products as Rubydale
Another company copying the same products as Rubydale.
There is lots of examples of a SWOT analysis in the BPP question bank book also.
Hope this helps and let me know if you have any more questions :)x
Please find attached Analysis of Scenario for Ruby Dale from one of the books.
Please could you send me your SWOT analysis too? Thanks