5:15pm

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Does it take many of you until 5:15pm to finish?<BR><BR>What time did you all finish ECR at?<BR>I was out of the exam hall by 3:30pm I may have got one or two things wrong, but nothing that if I stayed to 5:15pm I would have changed, as I believed the answer was right until I looked it up.

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    I finished it at half four. Spent most of the time checking my answers because I wasn't sure whether I had understood the questions correctly.<BR><BR>This one may take longer because no matter how slowly and carefully I go, my TB NEVER balances, ever, first time.<BR><BR>At least with this one, if it doesn't balance, you know something is wrong, rather than just hoping and praying it is right with ECR.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    yes, i think you need a lot of common sense with FRA, as its not formulas as such, you can wrk it out if you put ur mind to it. I LACK COMMON SENSE. so i think it can be harder than ECR, but those that prefer thinking than remembering will find FRA a LOT easier
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    I finished ECR at 4.45 which is the time that most people finished taking the exam. One girl in the exam started crying and having a mini fit at her desk cause she couldn't do it so that was really off putting for the others.<BR><BR>I know I will take a lot longer today, like you said about the trail balance mine never balances first time either.<BR><BR>Would you fail if your TB didn't balance?<BR><BR>I totally agree with you about if it doesn't balane then you know something is wrong. In ECR I didn't have a clue if I was right or wrong!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    I don't know if an incorrect figure in the TB is a fail, becuase in the simulation you could carry one wrong figure through to the P&L and BS, if it was an addition error, as long as the examiner could see your workings and that you understood the method. I don't know how strict they are on this though!<BR><BR>The only bad thing about knowing that it is wrong becuase it doesn't balance is if you can't see where the heck you've gone wrong and can't fix it in the time. Aargh!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    My understanding is that if the ETB doesn't add up you create a suspense account and follow that through to the P&L and balance sheet. As long as you pull the suspense account figure through the accounts you only get marked down once for that error.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    So even if it is supposed to balance but it doesn't, you are allowed to create a suspense and carry that through and you won't lose too many marks? That sounds like a good idea
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    I will probably be needing that one. I take it in the P&L and BS you can stick it anywhere as I have never seen final accouts with a suspense balance in, which you wouldn't expect to see anyway as the suspense should be clear at that point.<BR><BR>I am praying I can get mine to balance - fingers crossed
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    Yes because if you think about it when you are dealing with the accounts you often have to deal with a suspense account that has been created (as we will no doubt get today). This will then give you a trial balance that equals. It does mean your profit will be wong but when you do your P&L / Balance sheet and appropriation account your workings will all be the correct method ie; using the same profit figure and the correct methods.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    Originally I was more worried about costing, but now, this is worrying me so much more. All I can do is hope that for once I don't miss something and by some miracle everything works out fine!<BR><BR>Good luck everyone!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    I am pretty sure they check through the trial balance and only mark you down for the figures that arent right so dont worry too much if it doesnt balance first time. if it doesnt affect the next questions then leave it to the end if you think you will have time and try again to balance it. sometimes it just clicks if you go back to it
  • System
    System Posts: 100,534 🤖 Admin 🤖
    5:15pm

    Our AAC starts the exams at 13:30 instead of 14:00 - so we'll be finished by 16:45. I can't wait til it's all over!<BR><BR>Oh no - only 3 hours to go!

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