RIR Simulation

Re:RIR Simulation

RIR = Unit 1 - Recording Income and Receipts.

Sims are generally a series of tasks based on a given scenario and data. For Unit One, you should probably expect to:

complete invoices and credit notes
(make sure you know VAT and discount calculations)
enter invoices into the sales and credit notes into the sales return day books
post from the day books to the cash book and enter cash sales into the cash book
(make sure you understand the different treatment of cash and credit sales)
complete the T accounts for the sales

In addition 'spot the mistake' type questions are common, e.g.' here's a cheque from a customer give, three reasons why it couldn't be banked'. There'll probably also be a memo/letter question along the lines of 'Draft a letter to you customer requesting a correctly complete cheque'. You might also be asked to complete a paying in slip, to comment on methods of payments and outline the documents involved in the sales process.

Of course, none of this is gospel, but I would be surprised if many of these elements were not in there.

The only other tips are the obvious ones, don't panic, be methodical and know your stuff.

As for encouragement, it's relatively hard to fail a skills test, you get the chance to correct any minor errors after marking. I actually failed this test (I had a stinking cold is my excuse) so it's not the end of the world if you do, doing a resit is a pain but that's all.

Good luck,

Chris