Best Of
Re: PDSY Assessment 1 Task 1.4
Ok so first you need to work out your marginal costs.
You are told that the variable element of production overheads is equal to 15% of the direct costs. Therefore, for NP1, your direct costs are £18.00 + 15% = £20.70. For NP2, it will be £42.00 + 15% = £48.30
Now use this information to work out the rest.
So to undercut the competition
NP1 The competition is £21.00 x 250 = £5,250 but for SL Products, using the marginal cost it would be £20.70 x 250 = £5,175. 5,250 - 5,175 = £75
NP2 The competition is £52.00 x 600 = £31,200 but for SL Products, using the marginal cost above, it would be £48.30 x 600 = £28,980. 31,200 - 28,980 = 2,220
Use this logic for market price and spreadsheet price.
Hope this helps.
You are told that the variable element of production overheads is equal to 15% of the direct costs. Therefore, for NP1, your direct costs are £18.00 + 15% = £20.70. For NP2, it will be £42.00 + 15% = £48.30
Now use this information to work out the rest.
So to undercut the competition
NP1 The competition is £21.00 x 250 = £5,250 but for SL Products, using the marginal cost it would be £20.70 x 250 = £5,175. 5,250 - 5,175 = £75
NP2 The competition is £52.00 x 600 = £31,200 but for SL Products, using the marginal cost above, it would be £48.30 x 600 = £28,980. 31,200 - 28,980 = 2,220
Use this logic for market price and spreadsheet price.
Hope this helps.
Re: Budgeting Exam
I've got the budgeting exam on next Monday.... I've noticed it's a lot shorter unit notice compared to Financial Statements unit
Re: FSLC - It's a beast!!!!!!
sorry to hear that!! dust yourself down and go again
I get me result on Thursday
I get me result on Thursday
Re: AAT Qualified Salary
Hi Emma,
It sounds like you could be in a good position to push for a pay increase then (however being a small company, there may be a smaller budget for the 'pay rise' area). You can compare what you earn against the market average for said job, what you do within your role (duties etc), maybe compare this to jobs being advertised on job websites, the likes of Indeed or Reed, which will give you an indication to what other companies are paying for the same skillset and requirements (ofcourse perhaps these jobs are within different industries and the size of the companies will be a big factor, so therefore we can expect some differences with these two factors).
I don't think the AAT are promoting it, as they are a very diverse organisation! - I think they are just showing how the market currently is and how it operates. Ofcourse we have heard so much in the news over the last few years about the 'Gender Pay Gap' which alot of companies have done and are continuing to do some great work to change this! (Its sad really that this ever existed, how awful that one sex can earn more than another!), I am a total advocate for Equality & Diversity. Everyone should have the right to the same ££ and opportunities, if they can demonstrate the experience/qualification required in order to carry out that particular job, then they should have a chance at it!
Good luck for discussing your pay review! - keep positive whatever the outcome
It sounds like you could be in a good position to push for a pay increase then (however being a small company, there may be a smaller budget for the 'pay rise' area). You can compare what you earn against the market average for said job, what you do within your role (duties etc), maybe compare this to jobs being advertised on job websites, the likes of Indeed or Reed, which will give you an indication to what other companies are paying for the same skillset and requirements (ofcourse perhaps these jobs are within different industries and the size of the companies will be a big factor, so therefore we can expect some differences with these two factors).
I don't think the AAT are promoting it, as they are a very diverse organisation! - I think they are just showing how the market currently is and how it operates. Ofcourse we have heard so much in the news over the last few years about the 'Gender Pay Gap' which alot of companies have done and are continuing to do some great work to change this! (Its sad really that this ever existed, how awful that one sex can earn more than another!), I am a total advocate for Equality & Diversity. Everyone should have the right to the same ££ and opportunities, if they can demonstrate the experience/qualification required in order to carry out that particular job, then they should have a chance at it!
Good luck for discussing your pay review! - keep positive whatever the outcome
Re: Request your user title (Student, AATQB, MAAT, FMAAT, Licensed Bookkeeper, Licensed Accountant)
Can you please add MAAT to my profile please.Added for you, congratulations
20114420
Thank you.
Re: Request your user title (Student, AATQB, MAAT, FMAAT, Licensed Bookkeeper, Licensed Accountant)
You already have yoursPlease could you add MAAT
Membership : 20055192
Re: Ltd company and subcontractor in CIS
Who says you can not have a Ltd Co and be self employed in the same trade ?? whether that is sensible or not is another question
It is not confusing at all, they either work as a sub-contractor through the Ltd Co or they do it as a sole trader
It is not confusing at all, they either work as a sub-contractor through the Ltd Co or they do it as a sole trader
Re: Written Questions - HELP NEEDED!!
@MitchRoberts98 The best thing I can recommend is to open up the answers to the CBT's and the other examples provided and looking at the answers they provide as examples. I found there tended to be a common theme for each section knowing this will help structure your answer. This is roughly what I felt from the material that was on AAT student support.
For FSLC you'll want to make sure you know all the IAS and IFRS numbers to go with the definition, (this was something I stuggled with as I'm fine at remembering rules but not the number). Even if you blank on the number refer to the rules that need to be followed where you can. e.g if the question is on inventory refer to IAS2.
You'll then need to learn your ratios and be able to use them and explain what is shown.
For MDCL on the other hand you'll still need to know your ratios (and in more depth in my opinion) but it's more about interpreting data and analysing it. Your calculation will include variances to a higher level than budgeting. The analysis here is about interpreting data, which of X or Y is the better option and why back it up with calculations even if there's not a formal space for some.
Keep in mind this isn't everything each topic and I'd recommend going through the available materials yourself as things that were more important to remember for me might not be the same for you.
For FSLC you'll want to make sure you know all the IAS and IFRS numbers to go with the definition, (this was something I stuggled with as I'm fine at remembering rules but not the number). Even if you blank on the number refer to the rules that need to be followed where you can. e.g if the question is on inventory refer to IAS2.
You'll then need to learn your ratios and be able to use them and explain what is shown.
For MDCL on the other hand you'll still need to know your ratios (and in more depth in my opinion) but it's more about interpreting data and analysing it. Your calculation will include variances to a higher level than budgeting. The analysis here is about interpreting data, which of X or Y is the better option and why back it up with calculations even if there's not a formal space for some.
Keep in mind this isn't everything each topic and I'd recommend going through the available materials yourself as things that were more important to remember for me might not be the same for you.
Re: Written Questions - HELP NEEDED!!
See @Pian32 post on the "dreading this exam" thread
Dreading this exam!!!
Hi all,
I have this exam (my first sitting for it) on 6th February.
Reading so many stories about people not passing on multiple attempts has naturally gotten me very worried and feeling like I have failed before even attempting it....
Can anyone put my fears at ease somewhat???
How were your experiences with this exam? Was it similar to how you expected or did it throw up nasty surprises?
I have this exam (my first sitting for it) on 6th February.
Reading so many stories about people not passing on multiple attempts has naturally gotten me very worried and feeling like I have failed before even attempting it....
Can anyone put my fears at ease somewhat???
How were your experiences with this exam? Was it similar to how you expected or did it throw up nasty surprises?
