Stock Valuations

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:29AM in AAT student discussion
I think I understand the 3 methods now!!<BR><BR>Does anyone have any practice questions for these methods so I can try to see if i understand or not.<BR><BR>Many Thanks<BR><BR>Amanda <BR><BR>If they are e-mailable - then please click e-mail link below!<BR><BR><a target=new class=ftalternatingbarlinklarge href="mailto:amanda.hanks@btinternet.com">Amanda</a>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Valuations

    Have u got the Frank Wood Books?<BR><BR>useful link i use when at work to practive all sorts of things is <BR><BR>http://wps.prenhall.com/ema_uk_he_wood_busacct_9/0,5415,142140-,00.html<BR><BR>Dont know if they will help you, but useful practice for various thing.<BR>As for practice questions on AVCO, FIFO and LIFO, u prob have same as me from Premier, so cant help sorry<BR><BR>R u doing ECR intermediate now then??<BR><BR>Shaz<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Valuations

    Thanks for that Sharon!!<BR><BR>I am doing FRA, but any site of costing loses me!! I am going to hate and dread ECR. I think I get what to do, but nothing seems to be more than a couple of weeks worth of figures! Maybe I look to far ahead sometimes!<BR><BR>I have both Frank Books books, so I will get them out later today!! <BR><BR>I have read on now and stuck on WHEN you transfer the balances to P&L account!! I thought that you would produce a TB, Then Extend it and do the adjustments (writing out your journal as you go along) and then produce the final sole trader accounts. Then when the accounts are done - I thought you would produce a Journal to Close of the year end and get the accounts back to nil (for P&L). BUT the journal it is showing for depreication is showing the P&L transfer first!! before i have done the jounral for depreciation and accum depraciation - therefore it looks like you would make the depriation account credit before you have debited it with the depriation.<BR><BR>Well I am confusing myself now - lol - so I dont think anyone else will understand!!<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Valuations

    Now if u had written that in chinese u would have probably not lost me quite so quickly! lol<BR><BR>Confused as to your problem, have read it a couple of times and still not sure what u r trying to get at!<BR><BR>A lot of adjustments are made in the 'adjustments' column of the TB including depreciation adjustments if necessary!<BR>(Just because the 'ledger' balances have been made ready for the new year (P&L a/cs to nil) does not mean u cant still adjust them in the ETB before producing the Profit and loss account. Remember these are manual accounts, so unlike a computer system that may not let u adjust after you run a year end, with manual you adjust until u r ready to finalise the figures) Does that make sense?? (or is it chinese too lol)<BR><BR>What page in the book r u looking at?? (what book too might help lol)<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Valuations

    Ok, its all manual!<BR><BR>I have produced my TB, Then Extended it done the adjustment - deprecaiton and accurals etc.<BR>So then done the Accounts!<BR><BR>So do I now produce a journal to clear the accounts to nil ready for the new year!<BR><BR>Or do I produce a journal for each adjustment I make!<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Valuations

    Depends what u have been asked to do in yr question? ? ? ? <BR><BR><BR><BR><BR><BR>

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