accountancy/exams

[valerossi]

Any accountants on BCF? or any 'A' level accountancy students that know how do draw up suspense accounts? I know there are exams this week, wondering if this thread can be used to help each out on all subjects for revision purposes.

Thanks for reading (Y).
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who dares, wins.

[Itchy]

yes , all it is , is a separate account 499 for P&L items and or 999 for Bal sheet items, on accountancy software.

All you do is put the opposite side of the double entry into 499 or 999 until you can identify what they are for.

Thus on say the bank statements you find a £150 payment without any narration.

Bank payment £150

Payment out of the bank = credit right , (assuming there is ££££ in the account) ,

thus it should have a Debit entry corresponding to it, thus you go stick it in a separate account until you can identify where it goes, at which you credit the suspense account and debit the correct account.

This allows you to balance the bank and later ask the client what this £150 is and transfer it across to the correct account.
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Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

[Polo]

I was doomed studying my ACCA exams because I couldn't talk about double entry without sniggering.
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My mum smells your fingers

[mark83]

[Polo]

[snigger]
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My mum smells your fingers

[valerossi]

Well test is over, I was just wondering if you get rubbish 'AS' levels what would that mean? Does it just mean less points toward uni?

P.S I never noticed that 'double entry' and such were thought of as rude till now lol.
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who dares, wins.

[DidierD]

[valerossi]

Ill ask my tutor tomorrow but I was wondering if you didn't get enough points to get into the uni you wanted can u take another year of A levels. Will these new A levels add on to your previous ones? Hope that was clear lol.
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[DidierD]

[pwntifex]

[valerossi]

Thanks mate for replies
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[DidierD]

[Ahmato_]

Ah shite, just seen this thread now, would have filled you in mate, I'm doing A2 Accounts!

How did you find the exam? If you do some past papers before the exam you can smash this subject easy. I did an hours revision last year and got AAB in my three modules (Didnt revise for the first two lol)...

It really is an easy A-Level once you've got your head around it, especially when you compare it to Bio and Chem, which I'm doing at A2 as well..Just don't tell anyone, tell them its a solid subject haha
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[valerossi]

ahh lol well it was one of those tests that tested me on everything i was weakest at. Had a profit and loss account and balance sheet to do which was quite easy but the very first question i got put me off straight away, trial balances, i couldn't remember where to put anything lol. Went through it again and again after i done all other questions but i couldn't get it to balance lol.
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who dares, wins.

[Ahmato_]

Haha I used to work backwards and force the damn thing to balance even if it didn't lol
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SavageKymco wrote: lol yea yea, im just gettin food here, keep my strength up you know. all this killing takes a lot out of a guy Ha ha