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System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Im having a few probs with a past paper in unit 5?? <BR><BR>If the WIP in the trial balance was 10,000 and the total at yr end was £8000 which included £1000 which was for a client that we are not billing?? Which figures would you put in the P&L and the balance sheet?? Wot would the opening and closing balances for the WIP be??<BR><BR>Thanks everyone for your help!!

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Is this Unit 5??<BR><BR>I havent a clue what you are talking about and im about to start to do some pratice papers.<BR><BR>Have I missed this in my books???<BR><BR>Amanda
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    This is unit 5, apparently it crops up in the simulation but its not in the book, thats why our teacher warned us! <BR><BR>I havent a clue how to work it out as its not in the books!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Which past paper does this problem originate from? If u let me know the year and month, then i may be able to help.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Its a question our teacher has added in cos he thinks wot is covered in the simulation is out of the standards of unit 5?? <BR><BR>He tried to explain the opening and closing WIP but with nothing in the book to read its hard to understand!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Hi. <BR><BR>The only questions we got on work in progress were in the Unit 6 Central Assessment. You can look at the question and answer papers on here to work how it's done. You could also have a look at the Unit 5 papers see if it crops up in any of them.<BR><BR>Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Manufacturing accounts appear on a few of the very old ('90's) central assessment papers, although not recently. However, these questions are not concerned in any way with WIP that I can see. As scott has pointed out WIP is very much the domain of Unit 6.<BR>One popular overlap is the treatment of stock valuation, in particular in determining the closing stock balance in the ETB. In this instance you simply need to apply SSAP9 to each item of stock.<BR>Recent past papers plus answers are available in pdf format in the Assessment section of this website.<BR>If you can, I'd ask your tutor to go over this problem again and seek support from your classmates since the chances are that many of them are confused too.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    Clare <BR>I've just been looking through the archive of Accounting Technician Online and it would appear that the Old Standards Unit Recording Costs And Income (RCI) was Unit 5 back then.<BR>You need to badger your tutor. I think he could well be confused!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Work-In-Progress

    I've looked at the performance criteria, range statements and the knowledge and understanding required for this unit. See<BR> <a target=new class=ftalternatingbarlinklarge href="http://www.aat.co.uk/docs/students/intermediate_record.pdf">http://www.aat.co.uk/docs/students/intermediate_record.pdf</a><BR><BR>Pages 20-25<BR><BR>When manufacturing accounts were examinable at Intermediate level in the old unit MFR you might have a question which required opening and closing WIP values<BR><BR>BUT I see no reason why WIP is likely to be examined in any detail in the current syllabus. In fact the only references to stock are related to valuation isssues (cost v NRV)<BR><BR>I sympathise with you and your tutor, sometimes the constant syllabus changes can be misleading. There is enough in the syllabus as it stands and I think there would be uproar if the examiner wanted to examine something that isn't in the syllabus<BR><BR>Sandy

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