ACCT1002 exam (1 Viewer)

[fush]

just a question,
According to the exam outline on blackboard there is a 2 part discussion question on liabilities...does that mean we don't need to know how to journalise and post to t-accounts for liabilities??

also form the guideline there doesn't seem to be anything on intangible assets at all...

 

[absolution*]

There is a section titled 'Assets' though which im assuming may branch into intangibles. Can anyone confirm?

Im not learning how to journalise liabilities. Just the framework and the discussion type question. Im assuming it will be very similar to the question posted on blackboard for the wk13 revision workshop.

With the section called "Profit and Cash" do you think it will be a explain question on how the benefits of cash disclosure statements over profit statements?

 

[fush]

yea could be that and what are the diference between PAT from income statement and cashflow from CFS (cash based versus accrued based)

 

[sarevok]

Yes I guess there will be no section on journal entries for liabilities, i am not studying it anyway. What I find weird is that there is no cost-volume-profit analysis, waht was the point of teaching us that?

 

[absolution*]

Do you think the cash flow statement will require calculating depreciation expense and the like? I know it did in some questions.. I find that stuff really confusing.

ps. what was your ?/40 so far fot acct fush?

 

[absolution*]

Yes I guess there will be no section on journal entries for liabilities, i am not studying it anyway. What I find weird is that there is no cost-volume-profit analysis, waht was the point of teaching us that?

Yeah, waste of time.

 

[fush]

32.5/40

yea i assume u need to know all that stuff for the cash flow statements. For the investing and financing bit. To work out for example, proceeds on assets sold, or dividends paid...u need to know how to use t-accounts for that bit.

 

[absolution*]

32.5/40

yea i assume u need to know all that stuff for the cash flow statements. For the investing and financing bit. To work out for example, proceeds on assets sold, or dividends paid...u need to know how to use t-accounts for that bit.

can you point me to an example from the workbook, im hella lost.

 

[011]

I was also left hanging about with 'assets', seeing as most of the things to do with assets are laid out in the next Q.

Is the only mike's bikes stuff we're being tested on in those 3 reports?

 

[callisto]

hi jonathan lyons.

 

[absolution*]

Is the only mike's bikes stuff we're being tested on in those 3 reports?

Yeah.sdagdagda

 

[ToO LaZy ^*]

o rly?
gary high-pants quinlan said the break-even, CVP calculations would be tested on the MC questions too. (using mikes bikes)

 

[fush]

yea i heard that too, but i assume they are going to be pretty straight forward.

for the liablities discussion question what kind of examples will we need? just thought up scenarios or actual real like examples with figures...? i was just going to use a few general scenario examples ( eg. warranties, contingent laibilites...)

 

[kow_dude]

Yeah, waste of time.

I think there may be some questions related to CVP in the MC part. But from the sample Mike's Bikes questions, they were straightforward.... dont u think?

 

[011]

Why are there 15 marks for 10 questions? :S

 

[absolution*]

Why are there 15 marks for 10 questions? :S

say what?..

 

[kow_dude]

Why are there 15 marks for 10 questions? :S

Yea someone asked the same question in the discussion forums. So each MC question is worth (15/10) marks.

 

[fush]

possibly there are some harder MC worth 2 marks (involving ROI and PBP perhaps)

 

[absolution*]

roi and pbp are pretty easy though arent they?

 

[ToO LaZy ^*]

yeah probably the easiest out of all calculations