[Sasha;]

Best way to gain experience would be to contact any accountancy firms in your area and do some free work experience so you get an idea of what sorts of things they do etc.

Alot of people find it difficult to find work straight away but the AAT qualification will be the best place to start!! How old are you if you don’t mind me asking?

Regards
Sasha

[Sasha;]

I have only heard bad recommendations for HLC, im with Premier Training

[Sasha;]

Why would you want to do AAT?
Im not sure ACCA allow it anyways, you’d have to check with ACCA first.

[Sasha;]

Not sure if I can through the website?
I have email though

[Sasha;]

The calculation from net as 800 to gross = 933 doesn’t make sense. I’ve been looking at this for a little while, and your probably correct.

An easier way to do this would be. Say £120 Gross, (VAT is 20%) To find net you say that gross £120 = 120% and to find net which is 100% you would then 120/120 = 1 x 100 = 100 Net.

So using this formula. (Rough quick calculations) 933/117.5 x 100 = 794.042
Net = 794.042

Take away 5%. Net – 5% = 794.042 – 39.7021 = 754.3399

+ VAT @ 17.5% 754.4 + 132.02 = 886.42

Which is very near your answer. We can only assume that the gross was supposed to be 940, otherwise the calculations become much harder for what was supposed to be a quick question.

Hope THIS helps more than my last post and thanks for posting 😀

I’ve realised! The £133 in the question is £800 + £133 = £933!! Looks like an easy error to make

( Please read @admin. Regarding the Sales Receipts Question 11 – Gross should be 940 and the calculation is wrong. Check out the formula I use, it’s perhaps a better example to show in the answer! )

Gross 940 as 117.5%
Gross / 117.5 x 100 = NET

940 / 117.5 = 8
8 x 100 = 800
Net = 800

800 – 5% discount
800 – 40 = 760
760 = New Net

760 + 17.5% VAT = Answer.
760 + 133 = 893

[Sasha;]

The answer explains how to do it :

This is quite a trick question! Remember that VAT is charged on the net figure after discount, whether or not discount is actually taken. The easiest way to check in practice, would be to look at the breakdown on the invoice!

(basically you need to know the net to get the vat, rather than the gross)

VAT = Net x 95% x 17.5%
Gross = Net + (Net x 0.95 x 0.175)
= Net + (Net x 0.16625)
= 1.6625 x Net
Net = Gross /1.16625
= 933.00/1.16625
= £800.00
VAT = 0.175 x 0.95 x £800
= £133.00

Payment required = (0.95 x £800.00) + £133.00 = £893.00

Hope this helps

[Sasha;]

The tutorial has been working for me, but no questions appear?

[Sasha;]

I’m not sure but I believe it’ll just show pass. I have seen a very old certificate and it was just to say that you have the qualification. Most certificates won’t include marks or grades.

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