FRA Exam on 7th December

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi All

Anyone else struggling with the FRA/SSAP standards... I really cannot put into words what each one means!!!! and as far Memos ;-(

Good Luck all

Sinders

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    Dont worry your not the only one ! I'm doing a lot of last minute revising as well, doing loads of re-reading and re-writing of notes so it stays in my head !

    Best of luck for the Exam :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    Our tutor said tonight 'They're not going to fail you just cos you can't remember some stupid SSAP' . While this is probably true I think I'd better know them anyway :)

    I finally got my head around mark-ups and margins so feeling reasonably OK about Wednesday.

    Chris

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    Yeah I'm struggling, I know what they are and in what context to use them, but I have problems trying to actually explain them in a way that makes sense, I just wish I knew how strict they were with the wording. Does anyone know what the pass mark is by the way?

    Michele
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    After doing a lot of revision papers, questions on ssap r very short and for very few marks. as long as the rest of your accounting knowledge is sound it should be a walk in the park

    tom
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    im struggling on the journals i seem to be ok with everything else its just the journals the wording gets me :(

    and year im kinda confused about the SSAP and FRS etc but i dont think its that bigger deal when you can do everything else, its just some extra theory they have thrown !

    so for me though its concentrating on all journals and TB's etbs etc
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    Hi all

    Thanks for your advice... I am not worrying about them now, as I feel pretty confident about everything else!!!! I have done all past papers, some twice, although I seem to make really silly mistakes which is a little worrying!!

    CJC mentioned Mark up and Margin. The way our tutor tried to teach us was mind blowing. I have found it far easier using percentages as follows;

    Markup is on cost therefore cost price = 100%
    Margin is on selling price therefore selling price = 100%

    This method has worked for me, so I will be going with it!!

    All the best to all for tomorrow.

    Sinders
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    Hi Blank

    If you remember with journals to make sure that every Debit has a Credit. Correct the error first i.e. entry to the wrong account. If you have a correct account, post the other part of the entry in to there, if not to suspense.

    I also find it helpful to draw little T accounts, this will help you to see the correction easier!

    Good luck, I am sure you will be ok!!!!

    Sinders
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Exam on 7th December

    thanks slinders yeah i just gotta be careful and make sure i get the ccorrect accounts etc im ok with journals on foundation level but i get mixed up when it comes to the intermediate level :(

    but i will do my best and hopefully it will be enuf to get through :)

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