help PEV exam

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Has anyone been on a revision course for the PEV exam. If so did you learn about backward variances and stock in variances? I have shown the tips from the PQ mag to my tutor who has advised me to ignore it as it is not in the syallabus and you cant be examined on something that isn't in the syallabus.<BR><BR>I'm getting really worried as i cant seem to find anything in text books relating to any of the tips.<BR><BR>Help would be much appreciated.<BR><BR>Thank you

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    help PEV exam

    I think stock varinace is basically asking you the value of the stock that you have not used at the end of the period (based on standard cost) and i think should always be favourable.<BR><BR>Backward varinaces are not as bad as they sound it's just a case of putting in the formula what you know to calculate the missing figure. Could do it by re-arranging the formula I suppose.<BR><BR>Hope this helps and has not confused you!<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    help PEV exam

    I had the same panic and our tutor kindly went through an example - unfortunately it was quite a complicated example and nothing like the one I would have liked as I didn't have a clue! It also took an age for us to complete it collectively and there is no way we would have had time to complete the normal variance style question and this style as well.<BR><BR>If you have the Osborne work book there is an easier example in there somewhere as I did work through it. When I tried to look for it in class the only one I seemed to find was 2.8 I think (don't have my book with me at the moment). Our tutor was of the same opinion that backward variances either cannot be tested or if it is then the first question would probably not appear in its familiar format as you wouldn't be likely to be presented with two large questions in the first part.<BR><BR>Not a lot of practical help I know but I think the general concensus is that if it is to be tested it will be in a fairly simple form due to the time constraints. Perhaps if it does appear they will give us the actual cost, the calculated variances and ask us to calculate the standard cost of budgeted production.<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    help PEV exam

    I cant believe that if these are not in our syallabus then how can the AAT include them in our exam --what a joke!!!!!!!!!!!!<BR>How can we be expected to pass <BR>I've tried looking them up in my osbourne book but can only find a small part on ABC<BR>(about half a page)<BR>Maybe the AAT should sit down and look at what we are actually being taught before writting these exam papers
  • System
    System Posts: 100,534 🤖 Admin 🤖
    help PEV exam

    Perhaps classes should look at the standards that will guide the examiners in terms of what to examine.<BR><BR>

Categories

Privacy Policy