Exam Tips

Good luck with the preparation of your exams and here are some tips for the AAT June 05 exams from FTC.<BR><BR>PLB â?? Similar to previous exams.<BR><BR>FRA â?? The examiner likes journals and disposals of fixed assets but also look out for bad and doubtful debt questions. Also more VAT is likely to be included.<BR><BR>ECR â?? A stock card will not necessarily be included in section 1. However, same other subjects likely to be tested with more variety. More discursive questions likely.<BR><BR>PEV/PCR â?? The examiner is bringing stock into variance questions. Expect backwards variances, consider how computer packages aid movement to ABC and problems implementing ABC, ABC calculations and TAC v MC.<BR><BR><BR>DFS â?? Potentially there will be a consolidated Profit and Loss account, balance sheet for a Limited company, cash flow statement with Note 1 calculations, profitability ratios and FRS 3 - small question possibly after the balance sheet. The wordy question may possibly be something on fixed assets or post balance sheet.<BR><BR>Business Tax â?? Expect written tasks in both sections. Expect calculations on capital allowances, adjustment of profits and capital gains. Expect reference to basis periods.<BR><BR>Personal Tax â?? Expect written tasks in each section, requiring future tax advice. Expect tasks on tax returns, (inc. interest and penalties), employment income, benefits in kind, schedule A income, pensions and shares.<BR><BR><BR>Article written by Stacey Hurst, Head of AAT studies at FTC Nottingham.<BR><BR>