A-LEVEL ACCOUNTING. ACCN3 Further Aspects of Financial Planning Report on the Examination June Version: 1.0

Size: px
Start display at page:

Download "A-LEVEL ACCOUNTING. ACCN3 Further Aspects of Financial Planning Report on the Examination June Version: 1.0"

Transcription

1 A-LEVEL ACCOUNTING ACCN3 Further Aspects of Financial Planning Report on the Examination 2120 June 2016 Version: 1.0

2 Further copies of this Report are available from aqa.org.uk Copyright 2016 AQA and its licensors. All rights reserved. AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third party even for internal use within the centre.

3 Overview With the exception of perhaps sources of finance and some aspects of limited companies (most notable the schedule of non-current assets) all other mainstream topics from the syllabus were represented in the questions and so the paper overall was well balanced. The key changes in approach for this session were that the format is now a structured question and answer booklet to replicate the style of the AS papers and also that there was an objective testing element. Supplying templates for the completion of the realisation account, bank account and statement of cash flows enabled students to provide outcomes in a more standard and uniform fashion. For the statement of cash flows especially it is also worth noting that the workings section was more prescriptive and provided a framework which clearly helped the majority of students show calculations which were easier to decipher. Finally on the statement of cash flows, it was a deliberate strategy to have some of the arguably easier figures (including changes in inventories, trade receivables and trade payables) provided. Some questions continue to have other parts of the syllabus embedded within them and students need to be vigilant to the fact that this could be the case based on the evidence. In this paper, an example would be the inclusion of the accounting knowledge about IAS36 impairment of assets in the partnership question. Also, there continues to be the expectation that students can use aspects from the AS syllabus in a synoptic way such as the format for control accounts and both the bonus and rights issue of shares. Overall, the standard of responses was good but inevitably variable in parts. There didn t appear to be any particular time constraints with the majority of students being able to complete the whole paper in the time available. Some shorter responses for task 4b appeared to be more due to a lack of any more substantial points to make as opposed to not having sufficient time to finish the task fully. There were some quite challenging parts to many questions and rather than providing confusion, the evidence from outcomes would suggest that instead these produced a better spread of marks and grades and therefore enabled appropriate stretch / challenge and differentiation to be tested. Layouts of computational tasks where the template hadn t been provided in the new structured question and answer booklet format tend to be of a generally good standard. This included a clear tabulation format for the AVCO valuation calculations and a conventional layout for the income statement under incomplete records. Workings were also quite well referenced and clear to follow but as with previously, it would be suggested that a simple ledger T account format is quite often a clearer way to calculate key figures in for example incomplete records. Students need to constantly think about the most efficient and thus time saving way to elicit the answer. Key examples from this paper would be to not do a perpetual method to find the inventory valuation using FIFO and to prepare columnar partner capital accounts instead of individual versions for each partner. Any workings prepared in isolation and where the outcome didn t ultimately get represented in the final task outcome, were not awarded full marks because part of the skill is knowing how these calculations integrate with the main task requirement. 3 of 7

4 Many students produced well-articulated prose responses in which the spelling punctuation and grammar were commendable. This is always encouraging to see as arguably many Accounting students have less well developed written communication skills in contrast to computational skills. The structure and content however in some instances needs to be refined. For both the inventory valuation method question and the question about financial performance based on liquidity and cash flow changes, the best responses used figures from the preceding calculation tasks to contextualise. Also, the depth of analysis in some questions was more superficial with either a one sided argument and / or no substantial development of points made. For the quality of presentation marks there are still some elementary mistakes being made and on this occasion the most notable would be to describe the final figure in the income statement as profit or loss whereas it needs to say only one of these as appropriate in the context. Question 1 (a) Although the layouts were variable, nevertheless, many students were able to correctly calculate the correct inventory valuation amount using the AVCO method of Where a different inventory valuation amount was determined, this tended to be because the calculated average cost price was not a weighted average and so for example showed as being the mean average of the 75 for the opening inventory and the subsequent paid for the first consignment of inventory purchased. Also, where a perpetual calculation is required (as was the case here) then a total valuation amount needs to be clearly shown after each inventory transactions (either purchase or sale) and in some cases this wasn t done. (b) Many students correctly calculated the inventory amount using the FIFO method of In some cases however, students took an unnecessarily complicated approach to determining this amount and so would have probably been penalised on the time taken to complete the task. Students need to remember that the amount of work required is usually proportionate to the marks available and so for only 2 marks in this case, the calculation is likely to be relatively simple. Students also need to appreciate that with FIFO, the inventory valuation amount will be identical using either the periodic or the perpetual method and so unless instructed to use a particular approach (which wasn t the case here) then the periodic version should be advocated. 4 of 7

5 (c) Many students gave some reasonably detailed responses to demonstrate the relative merits of using the FIFO method of inventory valuation in contrast to the AVCO method. However, some students didn t give a balanced argument and only tended to focus on the benefit of either the AVCO method (and thus advocated not changing method) of the FIFO method (and thus advocated changing method). Better responses also used figures to illustrate and these were rewarded in context for application marks provided that they corresponded with the outcome from the preceding calculation tasks. It should be noted that a definitive decision about whether to change method or not wasn t required. Valid points will only be rewarded once and so it isn t therefore possible to get more marks simply by offering the opposite point. An example of this would be to identify that the FIFO method is easier to calculate and then to proceed to state that the AVCO method is more complicated to calculate. (d) Many students were able to elicit the correct valuation amount of Most students who got a different response tended to select the amount and this meant that they were applying mark-up of 100/120 instead of margin of 80/100 to determine the cost price for sales and sales returns. Question 2 Not surprisingly perhaps the majority of students were able to produce an income statement in the required format and despite the fact that there were many variations in final outcomes, nevertheless there were also some more common areas either done well or where common misconceptions were evident. For both revenue and purchases, some students either didn t include the dishonoured cheque, contra and interest adjustments or did so but in the incorrect direction. Also, for revenue and purchases, some students only included the credit but not the cash transactions. A relatively small proportion of students used the inventory turnover ratio and where this wasn t used, then the closing inventory was merely a balancing figure in cost of sales. However, for this latter approach, it wasn t then possible to isolate a separate amount for the value of inventory stolen. Even for those students who did have a stolen inventory amount, very few subsequently included this same amount as an expense. Many students found a gross profit and profit for the year own figure amount as 25% and 5% of revenue respectively, although for others this didn t correspond correctly. Many students were able to manipulate correct accruals and prepayment adjustments to determine the expensed amounts for both wages and rent. Stolen inventory was correct in many responses but if not then the most common issues were not adjusting for the bal b/d and bal c/d and or only including drawings for one month. A few students also mistakenly included dishonoured cheque and or contra as a separate expense. Finally a balancing figure for general expense was quite often included and was valid where the expenses section had not been contaminated with extraneous transactions. 5 of 7

6 Question 3 (a) Many students were able to produce a realisation account and understood the double entry principles in the construction of this ledger account. Most students opted for the approach of posting individual transactions amount although the alternative of netting off amounts relating to each constituent part is also acceptable. Some students included the vehicle taken by Pugh at the estimated proceeds instead of the net book value which would have therefore required an adding back of the potential loss on the transaction to determine this figure. Other students didn t appreciate that IAS36 was being cited despite impairment being sign posted as existing for all other non-current assets. This meant that some incorrectly selected the value in use as the recoverable amount even though this contradicted the rule of taking the higher of this and the fair value. Some students also incorrectly included the bank overdraft in the realisation account. (b) Many students were able to produce the capital accounts and again understood the double entry principles in the preparation of this ledger. Reward was given where applicable if the amounts corresponded with the realisation account. A reasonable proportion of students were able to show the correct entries to apply the rule of Garner v Murray and to therefore account for the bankruptcy of Mears accordingly. Although less of a common mistake on this occasion, nevertheless some students showed amounts as bal c/d even though the partnership was clearly being dissolved. (c) Entries in the bank account had to correspond with amounts from a combination of the realisation account and the capital accounts and generally matched accurately allowing for own figures in many instances. However, some students didn t apply the double entry rules and so for example would have a debit entry in the bank account which mismatched a debit entry from a previous ledger account and a similar issue being evident with some credit entries. Another common error was including amounts which are non-cash transactions in the bank account and these tended to be the discount allowed of 625 and the discount received of 176 as well as the bad debt written off which amounted to of 7

7 Question 4 (a) There was a full range of responses in the preparation and completion of the statement of cash flows. In a similar way to the income statement for incomplete records however, there were some more typically seen outcomes which made the same mistakes or misinterpretations based on the question stimulus materials. For depreciation and, setting aside the time apportionment issue, there is the fact that some students don t appreciate that the asset being disposed of is depreciated from the beginning of the year until the date of disposal, and therefore needs to feature in both the annual depreciation charge amount as well as in the accumulated depreciation for elimination on disposal (in this question, this was the amount of 1125). For interest paid, some students ignored the debenture loan repayment and so computed a full year s amount of Many students were able to calculate the number of shares issued through initially the bonus issue and subsequently the rights issue. However, there were then some errors in calculating the cash flow impact of these transactions with some attaching a cash flow amount to, for example, the bonus shares and maybe only calculating the rights issue at the premium price without the nominal value factored in to the equation. Also, for the dividends, some students didn t include the original shareholding in this computation. Encouragingly, many students correctly calculated the correct taxation paid figure and didn t merely use the tax liability from the previous year as has sometimes happened on previous occasions. (b) There were some fairly detailed responses to this prose task investigating performance based on changes in cash flows and liquidity of the business. Most students recognised that the answer needed to be contextualised to Van Moorsel and therefore used figures from the statement of cash flows to illustrate and thus were rewarded for application. However, many responses were constrained to merely identifying the key changes and quoting the amounts without providing any further insight about the implications of these changes as was required. The most commonly identified amplifications in this regard tended to focus on the dilution of ownership and impact on gearing and risk of a share issue with most other key cash flow changes being devoid of any supplementary analysis. It is also important that students clearly state the cash flow impact by using some descriptions which show the positive or negative effect rather than merely stating that the amount has increased or decreased which is a direction of change point only. Mark Ranges and Award of Grades Grade boundaries and cumulative percentage grades are available on the Results Statistics page of the AQA Website. Converting Marks into UMS marks Convert raw marks into Uniform Mark Scale (UMS) marks by using the link below. UMS conversion calculator 7 of 7

REPORT ON CANDIDATES WORK IN THE SECONDARY EDUCATION CERTIFICATE EXAMINATION JANUARY 2012 PRINCIPLES OF ACCOUNTS GENERAL PROFICIENCY EXAMINATION

REPORT ON CANDIDATES WORK IN THE SECONDARY EDUCATION CERTIFICATE EXAMINATION JANUARY 2012 PRINCIPLES OF ACCOUNTS GENERAL PROFICIENCY EXAMINATION CARIBBEAN EXAMINATIONS COUNCIL REPORT ON CANDIDATES WORK IN THE SECONDARY EDUCATION CERTIFICATE EXAMINATION JANUARY 2012 PRINCIPLES OF ACCOUNTS GENERAL PROFICIENCY EXAMINATION Copyright 2012 Caribbean

More information

CARIBBEAN EXAMINATIONS COUNCIL REPORT ON CANDIDATES WORK IN THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATION MAY/JUNE 2012 ACCOUNTING

CARIBBEAN EXAMINATIONS COUNCIL REPORT ON CANDIDATES WORK IN THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATION MAY/JUNE 2012 ACCOUNTING CARIBBEAN EXAMINATIONS COUNCIL REPORT ON CANDIDATES WORK IN THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATION MAY/JUNE 2012 ACCOUNTING Copyright 2012 Caribbean Examinations Council St Michael, Barbados All

More information

JUNE AND DECEMBER 2005

JUNE AND DECEMBER 2005 study guide professional scheme JUNE AND DECEMBER 2005 Every effort has been made to ensure that the information in this booklet is accurate and up to date at the time of going to press. ACCA accepts no

More information

Maintaining Financial Records (FA2) September 2016 to August 2017

Maintaining Financial Records (FA2) September 2016 to August 2017 Maintaining Financial Records (FA2) September 2016 to August 2017 This syllabus and study guide are designed to help with teaching and learning and is intended to provide detailed information on what could

More information

FFQA 1. Complied by: Mohammad Faizan Farooq Qadri Attari ACCA (Finalist) Contact:

FFQA 1. Complied by: Mohammad Faizan Farooq Qadri Attari ACCA (Finalist)  Contact: FFQA 1 Objective of IAS 2 The objective of IAS 2 is to prescribe the accounting treatment for inventories. It provides guidance for determining the cost of inventories and for subsequently recognising

More information

General Certificate of Secondary Education Applied Business (Double Award)

General Certificate of Secondary Education Applied Business (Double Award) General Certificate of Secondary Education Applied Business (Double Award) Unit 7 Business Finance Mark scheme 4136 June 2015 Version 1.0 Final Mark schemes are prepared by the Lead Writer and considered,

More information

CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS

CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS Key Terms and Concepts to Know Income Statements: Single-step income statement Multiple-step income statement Gross Margin = Gross Profit = Net Sales Cost

More information

ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS

ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS Key Terms and Concepts to Know Merchandise Inventory: Merchandise Inventory (Inventory or MI) refers to the goods the company has purchased and intends

More information

ACC108 Hospitality Accounting- Administrative Outline

ACC108 Hospitality Accounting- Administrative Outline ACC108 Hospitality Accounting- Administrative Outline Course Information Organization Mercer County Community College/Business & Technology Division Credits 3 Contact Hours 3 Catalog Description Introductory

More information

PRINCIPLES OF ACCOUNTS SYLLABUS

PRINCIPLES OF ACCOUNTS SYLLABUS CARIBBEAN EXAMINATIONS COUNCIL Caribbean Secondary Education Certificate CSEC PRINCIPLES OF ACCOUNTS SYLLABUS Effective for examinations from May/June 2008 CXC 10/G/SYLL 06 Published by the Caribbean Examinations

More information

EXAMINERS REPORT ON THE PERFORMANCE OF CANDIDATES CSEE, 2014

EXAMINERS REPORT ON THE PERFORMANCE OF CANDIDATES CSEE, 2014 THE NATIONAL EXAMINATIONS COUNCIL OF TANZANIA EXAMINERS REPORT ON THE PERFORMANCE OF CANDIDATES CSEE, 2014 062 BOOK KEEPING (For School Candidates) THE NATIONAL EXAMINATIONS COUNCIL OF TANZANIA EXAMINERS

More information

Version: 1.0:07/08. abc. General Certificate of Education. Economics ECN2: The National Economy. Mark Scheme examination - June series

Version: 1.0:07/08. abc. General Certificate of Education. Economics ECN2: The National Economy. Mark Scheme examination - June series Version: 1.0:07/08 abc General Certificate of Education Economics 5141 ECN2: The National Economy Mark Scheme 2008 examination - June series Mark schemes are prepared by the Principal Examiner and considered,

More information

BOOK KEEPING. (i) knowledge of basic skills required to start a business; (ii) ability to appreciate the rules and functions of book keeping;

BOOK KEEPING. (i) knowledge of basic skills required to start a business; (ii) ability to appreciate the rules and functions of book keeping; BOOK KEEPING 1. PREAMBLE The Book Keeping syllabus is designed to assess the candidates basic knowledge of business activities and understanding of financial system for the purpose of establishing a business

More information

Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING

Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING Instructor: Andrea Murowski Larrison Hall, Room 214 224-2927 amurowski@brookdale.cc.nj.us COURSE OBJECTIVE: The purpose of this course is to

More information

PRINCIPLES OF ACCOUNTS GENERAL OBJECTIVES

PRINCIPLES OF ACCOUNTS GENERAL OBJECTIVES PRINCIPLES OF ACCOUNTS GENERAL The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Principles of Accounts is to prepare the candidates for the Board s examination. It is designed

More information

General Certificate of Secondary Education ICT

General Certificate of Secondary Education ICT General Certificate of Secondary Education ICT Practical Problem Solving in ICT Report on the Examination 45202 June 2016 Version: 1.0 Further copies of this Report are available from aqa.org.uk Copyright

More information

GCE GEOGRAPHY. Unit 4A Geography Fieldwork Investigation Report on the Examination June Version: 1.0

GCE GEOGRAPHY. Unit 4A Geography Fieldwork Investigation Report on the Examination June Version: 1.0 GCE GEOGRAPHY Unit 4A Geography Fieldwork Investigation Report on the Examination 2030 June 2014 Version: 1.0 Further copies of this Report are available from aqa.org.uk Copyright 2014 AQA and its licensors.

More information

YTL POWER INTERNATIONAL BERHAD (Company No H) (Incorporated in Malaysia)

YTL POWER INTERNATIONAL BERHAD (Company No H) (Incorporated in Malaysia) Interim financial report on consolidated results for the quarter ended 31 December 2006. The figures have not been audited. CONDENSED CONSOLIDATED INCOME STATEMENTS INDIVIDUAL QUARTER CUMULATIVE PERIOD

More information

Financial Accounting and Auditing Paper-III Financial Accounting

Financial Accounting and Auditing Paper-III Financial Accounting Revised Syllabus of the Courses of B.Com. Programme at T.Y.B.Com. with Effect from the Academic Year 2015-2016 for IDOL Students Financial Accounting and Auditing Paper-III Financial Accounting SECTION

More information

ACCOUNTING. Contest Basics SAC 2016

ACCOUNTING. Contest Basics SAC 2016 ACCOUNTING Contest Basics SAC 2016 P a g e 2 UIL Accounting Basics Agenda 1. Constitution & Contest Rules and NEW Handbook 2. 2017 Condensed Contest Schedule & Solution 3. State-adopted textbooks (high

More information

A-level ACCOUNTING 7127/2

A-level ACCOUNTING 7127/2 A-level ACCOUNTING 7127/2 PAPER 2 ACCOUNTING FOR ANALYSIS AND DECISION-MAKING Mark scheme Specimen V1.0 Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant

More information

ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA EXAMINER'S REPORT AA2 EXAMINATION - JANUARY 2018 (AA22) COST ACCOUNTING AND REPORTING

ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA EXAMINER'S REPORT AA2 EXAMINATION - JANUARY 2018 (AA22) COST ACCOUNTING AND REPORTING ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA EXAMINER'S REPORT AA2 EXAMINATION - JANUARY 2018 (AA22) COST ACCOUNTING AND REPORTING The question paper consisted of 4 sections and 10 questions. This

More information

C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH

C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH Inventories are: items held for sale, or goods to be used in the production of goods to be sold. Businesses with : Intermediate Accounting

More information

Accreditation Period. Victorian Certificate of Education ACCOUNTING STUDY DESIGN. VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY

Accreditation Period. Victorian Certificate of Education ACCOUNTING STUDY DESIGN.  VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY Accreditation Period 2019 2023 Victorian Certificate of Education ACCOUNTING STUDY DESIGN www.vcaa.vic.edu.au VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY Authorised and published by the Victorian Curriculum

More information

AS Economics. 7135/1 The operation of markets and market failure Mark scheme June Version 1.0: Final Mark Scheme

AS Economics. 7135/1 The operation of markets and market failure Mark scheme June Version 1.0: Final Mark Scheme AS Economics 7135/1 The operation of markets and market failure Mark scheme 7135 June 2016 Version 1.0: Final Mark Scheme Mark schemes are prepared by the Lead Assessment Writer and considered, together

More information

GCSE Business Studies

GCSE Business Studies GCSE Business Studies 413002 Growing as a Business Mark scheme 4130 June 2016 Version 1.0: Final Mark Scheme Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant

More information

GCE. AS and A Level. Economics. AS exams 2009 onwards A2 exams 2010 onwards. Unit 2: Specimen mark scheme. Version 1.1

GCE. AS and A Level. Economics. AS exams 2009 onwards A2 exams 2010 onwards. Unit 2: Specimen mark scheme. Version 1.1 GCE AS and A Level Economics AS exams 2009 onwards A2 exams 2010 onwards Unit 2: Specimen mark scheme Version 1.1 This page has been left blank abc General Certificate of Education Economics ECON2 Unit

More information

Financial Accounting. John J. Wild. Sixth Edition. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Financial Accounting. John J. Wild. Sixth Edition. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Accounting John J. Wild Sixth Edition McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 04 Reporting and Analyzing Merchandising Operations Conceptual

More information

Modules for Accounting and Finance

Modules for Accounting and Finance Modules for Accounting and Finance Modules, other than Introductory modules may have pre-requisites or co-requisites (please, see module descriptions below) and a student must have undertaken and passed

More information

Accounting for Merchandising Operations

Accounting for Merchandising Operations 5-1 Chapter 5 Accounting for Merchandising Operations Learning Objectives After studying this chapter, you should be able to: 1. Identify the differences between service and merchandising companies. 2.

More information

abc GCE 2005 January Series Mark Scheme Economics ECN2/1 & ECN2/2 The National Economy

abc GCE 2005 January Series Mark Scheme Economics ECN2/1 & ECN2/2 The National Economy GCE 2005 January Series abc Mark Scheme Economics ECN2/1 & ECN2/2 The National Economy Mark schemes are prepared by the Principal Examiner and considered, together with the relevant questions, by a panel

More information

IAB LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING (QCF)

IAB LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING (QCF) IAB LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING (QCF) CONTENTS Qualification Accreditation Number 500/9261/3 (Accreditation review date 31 st December 2016) QUALIFICATION SPECIFICATION 1. Introduction 2.

More information

Achieve. FPER Performance objectives

Achieve. FPER Performance objectives Achieve FPER Performance objectives Performance objectives are benchmarks of effective performance that describe the types of work activities trainees will be involved in as certified accounting technicians

More information

Accounting for Merchandising Operations

Accounting for Merchandising Operations 5-1 Chapter 5 Accounting for Merchandising Operations Learning Objectives After studying this chapter, you should be able to: 1. Identify the differences between service and merchandising companies. 2.

More information

General Certificate of Education Economics 1141 ECON2: The National Economy Mark Scheme

General Certificate of Education Economics 1141 ECON2: The National Economy Mark Scheme Version 1.1: 2/2009 klm General Certificate of Education Economics 1141 ECON2: The National Economy Mark Scheme 2009 examination - January series Mark schemes are prepared by the Principal Examiner and

More information

Unit 1: About this Workbook Unit 2: Occupational Health and Safety Procedures

Unit 1: About this Workbook Unit 2: Occupational Health and Safety Procedures Table of Contents Unit 1: About this Workbook... 1-4 Unit 2: Occupational Health and Safety Procedures... 5-6 Unit 3: Double-Entity Bookkeeping Principles [Optional]... 7-14 Unit 4: Notes on the Goods

More information

Version 1.0: 0309 HIJ. General Certificate of Education. Business Studies Managing a Business. Mark Scheme examination June series

Version 1.0: 0309 HIJ. General Certificate of Education. Business Studies Managing a Business. Mark Scheme examination June series Version 1.0: 0309 HIJ General Certificate of Education Business Studies 1131 BUSS2 Managing a Business Mark Scheme 2009 examination June series Mark schemes are prepared by the Principal Examiner and considered,

More information

IAB Level 1 Award in Bookkeeping (RQF) Qualification Specification

IAB Level 1 Award in Bookkeeping (RQF) Qualification Specification IAB Level 1 Award in Bookkeeping (RQF) Qualification Specification Contents 1 Introduction to the qualification... 2 2 Statement of level... 2 3 Aims... 2 4 Target groups... 3 5 Entry requirements... 3

More information

Corporate and Business Law (ENG) (F4) September 2015 (for CBE exams from 23 September 2015) to August 2016

Corporate and Business Law (ENG) (F4) September 2015 (for CBE exams from 23 September 2015) to August 2016 Corporate and Business Law (ENG) (F4) September 2015 (for CBE exams from 23 September 2015) to August 2016 This syllabus and study guide is designed to help with planning study and to provide detailed

More information

1. Cost accounting involves the measuring, recording, and reporting of: A. product costs. B. future costs. C. manufacturing processes.

1. Cost accounting involves the measuring, recording, and reporting of: A. product costs. B. future costs. C. manufacturing processes. 1. Cost accounting involves the measuring, recording, and reporting of: A. product costs. B. future costs. C. manufacturing processes. D. managerial accounting decisions. 2. In accumulating raw materials

More information

FOUNDATIONS IN ACCOUNTANCY Paper FAU (UK) Foundations in Audit (United Kingdom)

FOUNDATIONS IN ACCOUNTANCY Paper FAU (UK) Foundations in Audit (United Kingdom) Answers FOUNDATIONS IN ACCOUNTANCY Paper FAU (UK) Foundations in Audit (United Kingdom) June 2012 Answers Section A QUESTIONS 1 10 MULTIPLE CHOICE Question Answer See Note Below 1 A 1 2 D 2 3 C 3 4 B 4

More information

CHAPTER 8. Valuation of Inventories: A Cost-Basis Approach 1, 2, 3, 4, 5, 6, 7, 8, 11, 12, 14, 15, 16

CHAPTER 8. Valuation of Inventories: A Cost-Basis Approach 1, 2, 3, 4, 5, 6, 7, 8, 11, 12, 14, 15, 16 CHAPTER 8 Valuation of Inventories: A Cost-Basis Approach ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Inventory accounts; determining

More information

Of the following manufacturing operations, which is the best suited to the utilization of a job order system?

Of the following manufacturing operations, which is the best suited to the utilization of a job order system? Current Quiz MGT 402 Solved by Atif Ghafoor For more help contact with at (ofakatif@yahoo.com) Page 1 Of the following manufacturing operations, which is the best suited to the utilization of a job order

More information

HONORS FINANCIAL ACCOUNTING

HONORS FINANCIAL ACCOUNTING FREEHOLD REGIONAL HIGH SCHOOL DISTRICT OFFICE OF CURRICULUM AND INSTRUCTION BUSINESS ADMINISTRATION SPECIALIZED LEARNING CENTER HONORS FINANCIAL ACCOUNTING COURSE PHILOSOPHY The Financial Accounting course

More information

Part 1 Study Unit 5. Cost Accumulations Systems Jim Clemons, CMA Ronald Schmidt, CMA, CFM

Part 1 Study Unit 5. Cost Accumulations Systems Jim Clemons, CMA Ronald Schmidt, CMA, CFM Part 1 Study Unit 5 Cost Accumulations Systems Jim Clemons, CMA Ronald Schmidt, CMA, CFM 1 Overview Cost accounting systems record manufacturing activities using a perpetual inventory system, which continuously

More information

Syllabus: Accounting

Syllabus: Accounting Course Overview: Accounting is the key to opening the door to the business world and that is why it is called the "language of business." Every business in our society is impacted by accounting-based decisions.

More information

PMT V1.0. Genera June Econo. omics ECON2. (Spec. Final

PMT V1.0. Genera June Econo. omics ECON2. (Spec. Final V1.0 Genera al Certificate of Education June 2013 (A-level) Econo omics ECON2 (Spec cification 2140) Unit 2: The National Economy Final Mark Scheme Mark schemes are prepared by the Principal Examiner and

More information

CHAPTER 6. Inventory Costing. Brief Questions Exercises Exercises 4, 5, 6, 7 3, 4, *14 3, 4, 5, 6, *12, *13 7, 8, 9, 10, 11, 12, 13

CHAPTER 6. Inventory Costing. Brief Questions Exercises Exercises 4, 5, 6, 7 3, 4, *14 3, 4, 5, 6, *12, *13 7, 8, 9, 10, 11, 12, 13 CHAPTER 6 Inventory Costing ASSIGNMENT CLASSIFICATION TABLE Study Objectives Brief Questions Exercises Exercises Problems Set A Problems Set B 1. Describe the steps in determining inventory quantities.

More information

COURSE DESCRIPTION. Rev 2.0 March 2017

COURSE DESCRIPTION. Rev 2.0 March 2017 COURSE DESCRIPTION This CE course provides information on inventory management. Information discussed includes inventory methods and accounting systems, cost of goods sold, and inventory turnovers and

More information

Financial Statement Samples And Templates

Financial Statement Samples And Templates Financial Statement Samples And Templates By Shaunta Pleasant Your Businesses Financial Statements are the means by which you will be able to communicate your information to the perspective investors.

More information

CHAPTER I INTRODUCTION TO ZAHIR ACCOUNTING 5.1

CHAPTER I INTRODUCTION TO ZAHIR ACCOUNTING 5.1 CHAPTER I INTRODUCTION TO ZAHIR ACCOUNTING 5.1 1.1 Introduction Welcome and thank you for choosing Zahir Accounting Version 5.1, we hope our product and service will fulfill your needs. Zahir Accounting

More information

PROCESS COSTING FIRST-IN FIRST-OUT METHOD

PROCESS COSTING FIRST-IN FIRST-OUT METHOD PROCESS COSTING FIRST-IN FIRST-OUT METHOD Key Terms and Concepts to Know Differences between Job-Order Costing and Processing Costing Process costing is used when a single product is made on a continuous

More information

Pastel Accounting level 1 course content (2-day)

Pastel Accounting level 1 course content (2-day) http://www.multimediacentre.co.za Cape Town: 021 790 3684 Johannesburg: 011 083 8384 Pastel Accounting level 1 course content (2-day) Course Description: Bookkeeping Fundamentals course is a comprehensive

More information

0450 BUSINESS STUDIES

0450 BUSINESS STUDIES UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the October/November 2010 question paper for the guidance of teachers 0450 BUSINESS

More information

PREVIEW OF CHAPTER. Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2

PREVIEW OF CHAPTER. Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2 8-1 PREVIEW OF CHAPTER 8 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2 8 Valuation of Inventories: A Cost-Basis Approach LEARNING OBJECTIVES After studying this chapter, you

More information

Syllabus Snapshot. by Amazing Brains. Exam Body: CCEA Level: GCSE Subject: Business

Syllabus Snapshot. by Amazing Brains. Exam Body: CCEA Level: GCSE Subject: Business Syllabus Snapshot by Amazing Brains Exam Body: CCEA Level: GCSE Subject: Business 2 Specification at a Glance The table below summarises the structure of this GCSE course. Assessment Weightings Availability

More information

B.COM II COST ACCOUNTING

B.COM II COST ACCOUNTING The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit 2014 B.COM II COST

More information

Corporate and Business Law (ENG) (F4) September 2016 to August 2017

Corporate and Business Law (ENG) (F4) September 2016 to August 2017 Corporate and Business Law (ENG) (F4) September 2016 to August 2017 This syllabus and study guide is designed to help with planning study and to provide detailed information on what could be assessed in

More information

IAB LEVEL 3 CERTIFICATE IN COMPUTERISED ACCOUNTING FOR BUSINESS (QCF)

IAB LEVEL 3 CERTIFICATE IN COMPUTERISED ACCOUNTING FOR BUSINESS (QCF) IAB LEVEL 3 CERTIFICATE IN COMPUTERISED ACCOUNTING FOR BUSINESS (QCF) (Qualification Accreditation Number 500/9622/9) Accreditation end date 31 st December 2012 CONTENTS QUALIFICATION SPECIFICATION 1.

More information

Foundation Diploma in Purchasing and Supply. Measuring Purchasing Performance L4-03 LEVEL 4. Senior Assessor s Examination Report.

Foundation Diploma in Purchasing and Supply. Measuring Purchasing Performance L4-03 LEVEL 4. Senior Assessor s Examination Report. Foundation Diploma in Purchasing and Supply Measuring Purchasing Performance L4-03 LEVEL 4 Senior Assessor s Examination Report March 2010 Series SECTION A Q1 (a) Q1 (b) Q1 (c) Describe the information

More information

2018 INVENTORY BOOTCAMP

2018 INVENTORY BOOTCAMP 2018 INVENTORY BOOTCAMP If you haven t kept up with your inventory tracking as much as you originally planned, or are just starting out with Craftybase this book is for you!! 1 of 17! Introduction... 3

More information

Level 3 Certificate in Financial Studies (CeFS) (QN 600/8537/X) Qualification Specification. Page 1 of 26

Level 3 Certificate in Financial Studies (CeFS) (QN 600/8537/X) Qualification Specification. Page 1 of 26 Level 3 Certificate in Financial Studies (CeFS) (QN 600/8537/X) Qualification Specification Page 1 of 26 . Table of Contents PURPOSE OF THE QUALIFICATION 3 WHY STUDY THE CERTIFICATE IN FINANCIAL STUDIES?

More information

National Bank of Abu Dhabi PJSC

National Bank of Abu Dhabi PJSC Consolidated financial statements 31 December 2009 Consolidated financial statements Contents Page Chairman s report 1 Independent auditors report 2 Consolidated statement of financial position 3 Consolidated

More information

Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing)

Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing) Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing) Introduction What is inventory control? Inventory control includes the function of inventory ordering and purchasing,

More information

Chapter 2. Job Order Costing and Analysis QUESTIONS

Chapter 2. Job Order Costing and Analysis QUESTIONS Chapter 2 Job Order Costing and Analysis QUESTIONS 1. Factory overhead is not identified with specific units (jobs) or batches (job lots). Therefore, to assign costs, estimates of the relation between

More information

Level 3 Diploma in Financial Studies (DipFS) (QN 600/8551/4) Qualification Specification. Page 1 of 39

Level 3 Diploma in Financial Studies (DipFS) (QN 600/8551/4) Qualification Specification. Page 1 of 39 Level 3 Diploma in Financial Studies (DipFS) (QN 600/8551/4) Qualification Specification Page 1 of 39 ody of ifs University College, a registered charity, incorporated by Royal Charter. Table of Contents

More information

General Certificate of Education (A-level) January 2012 ICT INFO3 (Specification 2520) Unit 3: The Use of ICT in the Digital World Final Mark Scheme

General Certificate of Education (A-level) January 2012 ICT INFO3 (Specification 2520) Unit 3: The Use of ICT in the Digital World Final Mark Scheme Version 1.0 General Certificate of Education (A-level) January 2012 ICT INFO3 (Specification 2520) Unit 3: The Use of ICT in the Digital World Final Mark Scheme Mark schemes are prepared by the Principal

More information

Tally ERP9 CHAPTER 2 TALLY ERP9

Tally ERP9 CHAPTER 2 TALLY ERP9 4 CHAPTER 2 TALLY ERP9 INTRODUCTION Manual Accounts mantaining involves lot of labour and time and even after, the result may not be up to expectations. Working in Tally, which is an Accounting Software,

More information

Introduction to Finance. 31 May Marking Scheme

Introduction to Finance. 31 May Marking Scheme Introduction to Finance 31 May 2016 Marking Scheme This marking scheme has been prepared as a guide only to markers. This is not a set of model answers, or the exclusive answers to the questions, and there

More information

Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ)

Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ) L3 Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ) (ASE20097) SPECIFICATION Issue 4 First teaching from September 2015 Edexcel, BTEC and LCCI qualifications Edexcel, BTEC and LCCI qualifications

More information

G.C.E. Advanced Level. Grades 12 and 13. ACCOUNTING Syllabus. (Will be implemented from 2017)

G.C.E. Advanced Level. Grades 12 and 13. ACCOUNTING Syllabus. (Will be implemented from 2017) G.C.E. Advanced Level Grades 12 and 13 ACCOUNTING Syllabus (Will be implemented from 2017) Department of Business Studies Faculty of Science and Technology National Institute of Education Maharagama www.nie.lk

More information

Pearson LCCI Level 2 Award in Computerised Bookkeeping (VRQ)

Pearson LCCI Level 2 Award in Computerised Bookkeeping (VRQ) L2 Pearson LCCI Level 2 Award in Computerised Bookkeeping (VRQ) (ASE20095) SPECIFICATION First teaching from May 2015 First examination from September 2015 Pearson LCCI Level 2 Award in Computerised Bookkeeping

More information

Paper FAU (UK) Foundations in Audit (United Kingdom) FOUNDATIONS IN ACCOUNTANCY. Monday 18 June 2012

Paper FAU (UK) Foundations in Audit (United Kingdom) FOUNDATIONS IN ACCOUNTANCY. Monday 18 June 2012 FOUNDATIONS IN ACCOUNTANCY Foundations in Audit (United Kingdom) Monday 18 June 2012 Time allowed: 2 hours This paper is divided into two sections: Section A ALL TEN questions are compulsory and MUST be

More information

This document should be read in conjunction with the examiner s suggested answers and marking guidance. General comments

This document should be read in conjunction with the examiner s suggested answers and marking guidance. General comments Operational level integrated case study Examiner s report February 2017 exam session This document should be read in conjunction with the examiner s suggested answers and marking guidance. General comments

More information

A beginners guide to moving to an ERP

A beginners guide to moving to an ERP A beginners guide to moving to an ERP 2 Contents This paper is for companies considering an ERP and looking to justify the investment in new technology. This paper will provide methods to identify and

More information

JOINT UNIVERSITIES PRELIMINARY EXAMINATIONS BOARD 2015 EXAMINATIONS BUSSINESS STUDIES - MSS J132 MULTIPLE CHOICE QUESTIONS

JOINT UNIVERSITIES PRELIMINARY EXAMINATIONS BOARD 2015 EXAMINATIONS BUSSINESS STUDIES - MSS J132 MULTIPLE CHOICE QUESTIONS JOINT UNIVERSITIES PRELIMINARY EXAMINATIONS BOARD 2015 EXAMINATIONS BUSSINESS STUDIES - MSS J132 MULTIPLE CHOICE QUESTIONS 1. What do the letters EOQ stand for? A. Estimated Order Quantity B. Economic

More information

QuickBooks Online Student Guide. Chapter 10. Inventory

QuickBooks Online Student Guide. Chapter 10. Inventory QuickBooks Online Student Guide Chapter 10 Inventory Chapter 2 Chapter 10 In this chapter, you ll learn how QuickBooks handles inventory. You can use QuickBooks to track the items you keep in inventory

More information

CONTENTS. Day 1. Accounting Principles, Concepts and Conventions Revenue Realisation Matching Concept

CONTENTS. Day 1. Accounting Principles, Concepts and Conventions Revenue Realisation Matching Concept Lession 1: Basic of Accounting 1.1 1.2 Day 1 Accounting Principles, Concepts and Conventions 1.2.1 Revenue Realisation 1.2.2 Matching Concept 1.2.3 Accrual 1.2.4 Going Concern 1.2.5 Accounting Period 1.2.6

More information

Audit evidence. chapter. Chapter learning objectives. When you have completed this chapter you will be able to:

Audit evidence. chapter. Chapter learning objectives. When you have completed this chapter you will be able to: chapter 9 Audit evidence Chapter learning objectives When you have completed this chapter you will be able to: explain the assertions contained in the financial statements explain the use of assertions

More information

Itawamba Community College ACC 2213 Principles of Accounting I

Itawamba Community College ACC 2213 Principles of Accounting I Itawamba Community College ACC 2213 Principles of Accounting I The Business Division provides student learning opportunities in Accounting, Business Communications, Legal Environment of Business, Economics,

More information

Overview. This Accounting Standard is aimed to streamline the accounting methods for inventories.

Overview. This Accounting Standard is aimed to streamline the accounting methods for inventories. IAS 2 INVENTORIES Overview This Accounting Standard is aimed to streamline the accounting methods for inventories. The foremost concern in Inventory accounting is that the cost would be considered as asset

More information

Ch6 Practice Test Part 1: Multiple Choice Choose the most correct answer from the choices provided.

Ch6 Practice Test Part 1: Multiple Choice Choose the most correct answer from the choices provided. Part 1: Multiple Choice Choose the most correct answer from the choices provided. 1. The factor which determines whether or not goods should be included in a physical count of inventory is a. physical

More information

ACCOUNTING FOR MERCHANDISING ACTIVITIES

ACCOUNTING FOR MERCHANDISING ACTIVITIES Chapter 6 ACCOUNTING FOR MERCHANDISING ACTIVITIES Presented by: Endra M. Sagoro Economic Faculty YSU endra_ms@uny.ac.id Operating Cycle of a Merchandising Company Cash Accounts Receivable 2. Sale of merchandise

More information

D.SRINIVASAN. M.COM., M.Ed., P.G.D.C.A., P.G.D.I.T., K.G.S. MATRIC. HR. SEC. SCHOOL TIRUPUR. CELL

D.SRINIVASAN. M.COM., M.Ed., P.G.D.C.A., P.G.D.I.T., K.G.S. MATRIC. HR. SEC. SCHOOL TIRUPUR. CELL 11 - ACCOUNTANCY 1. INTRODUCTION OF ACCONTING 1. The amount which the proprietor has invested in the business is------------. 2. Book-keeping is an art of recording---------in the book of accounts. 3.

More information

TEACHING AID EXPLORING ACCOUNTING AND REPORTING ALTERNATIVES FOR THE INVENTORY LCM PROCEDURE. Kennard S. Brackney, Ph.D. Professor

TEACHING AID EXPLORING ACCOUNTING AND REPORTING ALTERNATIVES FOR THE INVENTORY LCM PROCEDURE. Kennard S. Brackney, Ph.D. Professor TEACHING AID EXPLORING ACCOUNTING AND REPORTING ALTERNATIVES FOR THE INVENTORY LCM PROCEDURE Kennard S. Brackney, Ph.D. Professor Philip R. Witmer, Ph.D. Professor witmerpr@appstate.edu (828) 262-6232

More information

Mark Scheme (Results) Summer IGCSE Business Studies (4BS0)

Mark Scheme (Results) Summer IGCSE Business Studies (4BS0) Scheme (Results) Summer 2016 IGCSE Business Studies (4BS0) Edexcel and BTEC Qualifications Edexcel and BTEC qualifications come from Pearson, the world s leading learning company. We provide a wide range

More information

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year School: Prescott High dual enrolled with Yavapai College Grade

More information

CHINA INDUSTRIAL GROUP INC

CHINA INDUSTRIAL GROUP INC CHINA INDUSTRIAL GROUP INC FORM 10-Q (Quarterly Report) Filed 04/22/96 for the Period Ending 02/29/96 Address 599 LEXINGTON AVENUE 18TH FLOOR NEW YORK, NY, 10022 Telephone 2123088877 CIK 0000818726 Symbol

More information

QUICKBOOKS PRO 2008 WORKSHOP 6 THE CORNER DRESS SHOP

QUICKBOOKS PRO 2008 WORKSHOP 6 THE CORNER DRESS SHOP QUICKBOOKS PRO WORKSHOP 6 THE CORNER DRESS SHOP Mini Practice Set Reviewing the Accounting Cycle for a Merchandise Company This workshop will help you review the key concepts of a merchandise company by

More information

Sri Lanka Accounting Standard LKAS 2. Inventories

Sri Lanka Accounting Standard LKAS 2. Inventories Sri Lanka Accounting Standard LKAS 2 Inventories CONTENTS paragraphs SRI LANKA ACCOUNTING STANDARD LKAS 2 INVENTORIES OBJECTIVE 1 SCOPE 2 5 DEFINITIONS 6 8 MEASUREMENT OF INVENTORIES 9 33 Cost of inventories

More information

COST OF GOODS MANUFACTURES B.COM. PART II

COST OF GOODS MANUFACTURES B.COM. PART II COST OF GOODS MANUFACTURES B.COM. PART II Q#1 Following are the balances appear on the Trial Balance of SAMREEN & Co. for the year ended April 30, 1980. Inventory of Goods in Process April, 01 Rs.109,000

More information

1). Fixed cost per unit decreases when:

1). Fixed cost per unit decreases when: 1). Fixed cost per unit decreases when: a. Production volume increases. b. Production volume decreases. c. Variable cost per unit decreases. d. Variable cost per unit increases. 2). Prime cost + Factory

More information

C H A P T E R. Inventories. Corporate Financial Accounting 13e. human/istock/360/getty Images. Warren Reeve Duchac

C H A P T E R. Inventories. Corporate Financial Accounting 13e. human/istock/360/getty Images. Warren Reeve Duchac C H A P T E R 6 Inventories Corporate Financial Accounting 13e Warren Reeve Duchac human/istock/360/getty Images Safeguarding Inventory (slide 1 of 2) Controls for safeguarding inventory begin as soon

More information

2014/2015 School Year. Unit / Theme Content (Nouns) Skills (Verbs) YC Learning Outcomes & Course Content/ADE Standards

2014/2015 School Year. Unit / Theme Content (Nouns) Skills (Verbs) YC Learning Outcomes & Course Content/ADE Standards School : Prescott High dual enrolled with Yavapai College YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year Long Semester Pacing Guide Subject: YC: ACC131 (Principles

More information

Mark scheme (Results) Summer Pearson Edexcel GCE AS Level in Business (8BS0/02) Paper 02 Managing Business Activities

Mark scheme (Results) Summer Pearson Edexcel GCE AS Level in Business (8BS0/02) Paper 02 Managing Business Activities scheme (Results) Summer 2016 Pearson Edexcel GCE AS Level in Business (8BS0/02) Paper 02 Managing Business Activities Edexcel and BTEC Qualifications Edexcel and BTEC qualifications are awarded by Pearson,

More information

ACCOUNTING BASICS FOR HR PROFESSIONALS MAY 8,

ACCOUNTING BASICS FOR HR PROFESSIONALS MAY 8, ACCOUNTING BASICS FOR HR PROFESSIONALS MAY 8, 2014 Objectives 2 Define business strategy Identify C-Suite focus Review accounting vocabulary Define basic accounting entries Discuss accounting decisions

More information

Churngold Construction Holdings Limited and its subsidiary undertakings Financial statements For the year ended 31 May 2007

Churngold Construction Holdings Limited and its subsidiary undertakings Financial statements For the year ended 31 May 2007 Churngold Construction Holdings Limited and its subsidiary undertakings Financial statements For the year ended 31 May 2007 Company No. 4268945 Churngold Construction Holdings Limited and its subsidiary

More information

GLOSSARY OF TERMS ENTREPRENEURSHIP AND BUSINESS INNOVATION

GLOSSARY OF TERMS ENTREPRENEURSHIP AND BUSINESS INNOVATION Accounts Payable - short term debts incurred as the result of day-to-day operations. Accounts Receivable - monies due to your enterprise as the result of day-to-day operations. Accrual Based Accounting

More information

A-LEVEL Business Studies

A-LEVEL Business Studies A-LEVEL Business Studies BUSS3 Strategies f Success Mark scheme 2130 June 2015 Version/Stage: 1.0: Final Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant

More information