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We know that the bank statement is showing a balance of $200 Dr
However the cash account will be showing a different balance because of unpresented cheques, lodgments not yet credited, and any errors on the bank statement.
So what the question is asking for is what balance will be showing in the actual cash account, so you need to ‘work backwards’ from the bank statement to calculate this.
Hope that helps 🙂
I am afraid that it is wrong to simply multiply the std deviation by 5. It is the variance that must be multiplied by 5. (The reason becomes obvious by watching the Paper MA lectures on the standard deviation, but to be honest I would not waste your time but would just learn the rule)
I am afraid that it is wrong to simply multiply the std deviation by 5. It is the variance that must be multiplied by 5. (The reason becomes obvious by watching the Paper MA lectures on the standard deviation, but to be honest I would not waste your time but would just learn the rule)
1. I am sure for all of the books, but their website makes it clear before you order.
2. The discount code applies whether you order the hard copy or the e-book.
It is the last sentence of the paragraph underneath the details of the fixed costs. The fact that there is a tax credit automatically means that they can take advantage of it in the following year.
The credit note should have been credited to receivables but they have debited receivables by mistake (we would assume that the other entry (I.e. debit sales) had been done correctly.
So this is why the trial balance does not balance and so there is a suspense account.
To correct the error they would credit receivables with 800 (400 to cancel the wrong debit and another 400 to put the correct credit entry).
The double entry would then be to debit the suspense account with 800 which would clear the current balance on suspense of 800.Have you watched m y free lectures on suspense accounts?
My AFM lectures do revise the Paper FM topics where relevant.
However the revision is only quick. So what I would suggest is that you start working through the AFM lectures but as soon as you come to anything that worries you then go back to the relevant FM lectures where it is explained slower and in more detail.
A lot depends on how much time you have for studying. If you do have the time then the ideal would be to work through the whole of our FM lectures first and then watch the AFM lectures. If you do do that then it is just the FM lectures on Working Capital that you do not need to bother with because they are not relevant for AFM.
It is really hard for me to give advice to you.
All I can suggest is three things:
First, you say that you have been studying for 2 months, but have you watched our lectures? If not then you still have time to (and given that you have exemptions then it would really be worth watching our Paper FM lectures as well).
Secondly, in the exam itself do make sure that you right something for every part of every question. Even if you cannot complete a part of a question then you will still get some marks for writing anything at all sensible (and you only need 50 marks to pass the exam).
Finally, do have confidence in yourself when you go into the exam. There will be very many people less confident that you and will have done less studying than you. Never will everyone fail the exam and you will be one of those who passes it 🙂
Yes you should know them (you can find lectures on them in the Paper FA section of our website).
If there is a significant change in the gearing then we use the adjusted present value approach.
It is impossible for me to give you a definite answer, but if I were you I would book the exam, keep practicing up until the date, and go into the exam with confidence 🙂
The risk adjusted cost of capital for a project will normally be referring to that calculated using the assets beta of the project and is therefore accounting purely for the business risk (and not the gearing risk).
If both the business risk and the gearing risk change then we would use an adjusted present value approach (as explained in my free lectures).
If you go to the following page you will find links to all of the videos in the correct order 🙂
https://opentuition.com/acca/fa/acca-financial-accounting-fa-lectures/
This is a Paper FA question rather than Paper MA.
Our free lectures on Chapter 9 of our lecture notes work through all of the relevant entries.
(I think also that you are confused between the purchase ledger and the purchases account. The ledger contains all the payables accounts.)
Big Data is certainly examinable (although not in enormous detail).
My ACCA (and, as I wrote before, our lectures) cover what is examinable, whether explicitly listed in the syllabus or not.Although Section B of the exam will contain 3 questions – one on each of Budgeting, Standard Costing, and Performance measurement – these only account for 30% of the marks in total. The other 70% of the marks are from Section A and in this section there can be questions on all syllabus areas (and this does include Big Data).
It is therefore important that you do study all areas of the syllabus rather than concentrating just on certain topics.
Best is to watch our free lectures, which cover everything needed to be able to pass the exam well. In addition it is important to practice as many exam standard questions as possible and for this you should use the ACCA website and ideally an Exam kit from one of the Approved Publishers (BPP or Kaplan).
If you have any problems when working through our lectures or when attempting practice questions, then do ask in this forum and I will try to help 🙂
Although the TAD is not a cash flow, it is allowable for tax.
So the tax is calculated after the deduction of the TAD, but in arriving at the cash flows it has been added back because there is not net cash flow.
If you are still unsure then you can find a lecture working through the whole of the question by scrolling down the following page:
https://opentuition.com/acca/afm/afm-revision-lectures/As regards your second question:
Here is answer is correct. The original cheque will have been entered in the cash book just as all cheques will have been entered. This will include the cheque that was dishonoured because this will only be discovered later.
All that has not been recorded is the ‘correction’ when they found out that the cheque had been dishonoured.
This is sensible if you think about it – they wouldn’t delay entering cheques to wait until finding out whether or not they were dishonoured.
As regards your first question:
The depreciation entry has not been made and so the trial balance will balance.
What the answer is saying is that you would notice this when looking at the TB because there would be no listing of the depreciation expense.
I would ignore this question because it is a very silly one indeed.
