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Hello, I have noticed that a lot has been removed from section D2 surrounding basic variances & Operating statements – nearly a whole chapter in my 2012 Kaplan book. Does this mean I don’t need to remember about the effect of the learning curve on labour variances/ production of full operating statements/ effects of idle time/ABC variances etc…….? Or could they still ask questions on these bits?
Also a bit concerned about preparing rolling budgets and ABC budgets (Addition to C3) could this come up in a question worth a lot of marks? Do we have notes on here how to do this?
Your help is much appreciated
The only reason that the variance bit of the syllabus has been removed it that it is assumed knowledge from Paper F2 (because the basic variances are examined there).
So it is still important that you understand and can calculate basic variances.
However, the examiner has said that she will not ask a full operating statement on basic variances.
She can ask for some of them, and she can certainly ask planning and operational variances which use the same rules as basic variances.With regard to rolling and ABC budgets, you have always been expected to be able to explain these (and have been asked to in previous exams including last times exam – they are dealt with in our course notes).
She can ask you to actually prepare one, but if she does then I would not expect it to carry too many marks, or to be too difficult – just enough to prove whether or not you understand what they are.
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