FRA - Balance Sheet and Profit and Loss account

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Will we be expected to learn the format of the BS and the P&L account?<BR><BR>Or will it be laid out in the exam like it was in the simulation?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    Even though it will probably be laid out for you, there's nothing like knowing it inside out. If I were you, I'd learn the format for all three,ie, Trial Balance, Trading & P & L a/c and B/S. You should also try to learn how the titles of all three are worded, as you get a mark for that.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    The things that always crop up each year:<BR><BR>1. trial balance<BR>2. extended trial balance - including balancing out on pl and bs<BR>3. year end adjustment journals<BR>4. profit and loss statement or balance sheet<BR>5. partnerships,capital accounts, current, goodwill, retirement of partner or admittance but never both<BR><BR>Worth knowing as well to put a heading on top of the profit and loss or balance sheet and date it, you will get marks for presentation
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    how confident are you lot about the FRA tomorrow?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    feeling ok but it can't be any worst than ECR!!!! Even though I think I done ok i found the wording hard to grasp.<BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    for the report in ECR what did you write for part b and c?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    remind me what was part b and c
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    b) one other appraisal technique<BR>c) 2 other factors of something
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    oh that one. I put IRR but only in the sense to find the optimum borrowing of capital rate. I didnt think that it was a form of investment apprasal but just another way of discounting cash.<BR><BR>2 other commercial reason:<BR><BR>1. cash flows out of the 3 year period<BR>2. residue value of the machine<BR><BR>or 3 you could of had that variable costs to rise and fall within the market.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    i hade no clue so this is what i wrote<BR><BR>b) irr (initial rate of return) and rambled on about that<BR><BR>c)something about npv equalling zero<BR>and needing a company policy blah blah blah<BR><BR>noooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo<BR> do you know if there's any chance we can get to view our papers after they've been marked?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    No chance there, once they are marked they are locked away and never to be seen again!!!!!!!!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    did you do the npv question? was you meant to write the capital amount for different years into the box?.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Balance Sheet and Profit and Loss account

    from what i can remember it gave you all the info in separate boxes then you had to collate the info into one table. Capital received was the net cash flow for each year and there was a box for each year

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