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Author Topic: Accounting AS level doubt!  (Read 7793 times)

Offline Tohru Kyo Sohma

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Accounting AS level doubt!
« on: May 22, 2011, 09:29:19 pm »
ok.....i have a doubt here...in the mark scheme for accounting p2...they show mark on side by indication a 1 there......but beside some they show 1of.....does this mean that if we get it wrong we get a negative marking!!!
pls help someone! :-[
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #1 on: May 23, 2011, 01:20:45 am »
ok....i understood....i cleared my own doubt.......CAN ANYONE EXPLAIN MARK UP AND MARKGIN TO ME???
pls!! :( :( :(
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #2 on: May 23, 2011, 02:26:10 am »
OF = own figure , so u get a mark watever u r ans is there & u will not be penalised there after for that figure !

Mark up = Its a % calculated cost of sales to obtain profit(desired profit by company)
Margin  = Its a % calculated on Sales (to obtain profit)

example -
 MARK UP-

COST OF SALES = 1000
MARK UP =20%

Then profit = 1000 x 20 /100
=200

MARGIN-

MARGIN = 20 %

Then Profit =
1000/80 x 20 =250


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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #3 on: May 23, 2011, 02:44:15 am »
hmm i think u didnt get the margin thing,, i'll explain in a mathematical way since u do maths ;D

Since margin is % on sales & we are given cost of sales & told to find profit.(which they say margin is 20 % )

So if we take sales as S

S x 80 % will be cost of sales i.e (  0.8S   )
S x 20% will be profit(  0.2S )

& we are not given sales but cost of sales ....

so cost of sales will be 80 % of sales S x .8 = Cost of sales (0.8S)
& sales will be 100 %            i.e   1000/0.8S = S

SO u can either obtain sales & get profit or straigt away get profit like the one i did before :D

hope u get it




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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #4 on: May 23, 2011, 05:07:18 pm »
Quote from: Dasith on May 23, 2011, 02:44:15 am
so cost of sales will be 80 % of sales S x .8 = Cost of sales (0.8S)
& sales will be 100 %            i.e   1000/0.8S = S

SO u can either obtain sales & get profit or straigt away get profit like the one i did before :D

hope u get it
what is that 1000 figure again???
this mark up and margin is killing me!!
thanks alot dasith! ;D
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #5 on: May 23, 2011, 05:17:19 pm »
Quote from: mimiswift on May 23, 2011, 05:07:18 pm
what is that 1000 figure again???
this mark up and margin is killing me!!
thanks alot dasith! ;D

1000 is cost of sales , & we gonna get sales & then find profit !

Got it ? or still no ?
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #6 on: May 23, 2011, 05:29:16 pm »
but didnt u show COS as 0.8S
1000/0.8S=S??
i didnt get this formula as well!! :-\
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #7 on: May 23, 2011, 05:43:35 pm »
Quote from: mimiswift on May 23, 2011, 05:29:16 pm
but didnt u show COS as 0.8S
1000/0.8S=S??
i didnt get this formula as well!! :-\


yes cost is equal to 80% or 0.8 S i.e 80% of sales yea ?

so we knw cost rite? i.e 1000
so wat do we do to get sales ? (given that cost is 80% of sales)

1000/0.8= S

or in other words
sales = Cost of sales + proft ?

s=1000 + 0.2S
s-0.2s=1000
0.8S=1000
s=1000/0.8 ?

got it ?( its not a formulae actually lol ;D )
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #8 on: May 23, 2011, 08:07:07 pm »
thanks loads dasith :)  and do u know any useful site for accounting revision.
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #9 on: May 24, 2011, 01:33:30 am »
Quote from: mimiswift on May 23, 2011, 08:07:07 pm
thanks loads dasith :)  and do u know any useful site for accounting revision.

welcome ;D

hmm about useful site i'm nt quite sure but u might check the forum they had some links to some sites :)
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #10 on: May 24, 2011, 04:13:55 am »
thanx dasith again. ;D
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #11 on: May 24, 2011, 05:14:52 am »
;D  (this is a spam :P )
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Re: Accounting AS level doubt!
« Reply #12 on: May 24, 2011, 10:52:42 am »
"IMPORTANT TOPICS FOR JUNE 2011(AS) EXAM.
1)PARTNERSHIP or incomplete records full length question with balance sheet and income statement]
2)BANK RECONCILIATION STATEMENT OR CORRECTION OF ERRORS]
3)OVERHEAD ANALYSIS SHEET WITH CONCEPT OF UNDER OR OVERHEAD ABSORBED OVERHEAD+JOB/BATCH COSTING]
BEST OF LUCK FOR THE EXAMS...."

i saw this on the xtremepaper forums, the student got this info from his teacher...so i felt i should share this ?

good luck for the exam, dont just start going though these 4 chaps only, look at all ,because what if the questions come out of these topics...  ;D
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #13 on: May 24, 2011, 11:28:10 am »
Quote from: Syeda S. Nasir on May 24, 2011, 10:52:42 am
"IMPORTANT TOPICS FOR JUNE 2011(AS) EXAM.
1)PARTNERSHIP or incomplete records full length question with balance sheet and income statement]
2)BANK RECONCILIATION STATEMENT OR CORRECTION OF ERRORS]
3)OVERHEAD ANALYSIS SHEET WITH CONCEPT OF UNDER OR OVERHEAD ABSORBED OVERHEAD+JOB/BATCH COSTING]
BEST OF LUCK FOR THE EXAMS...."

i saw this on the xtremepaper forums, the student got this info from his teacher...so i felt i should share this ?

good luck for the exam, dont just start going though these 4 chaps only, look at all ,because what if the questions come out of these topics...  ;D

when do we  hav over / under absorption in overhead costing ?
i mean do they giv two levels of production ?
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #14 on: May 24, 2011, 01:21:07 pm »
according to my teacher's prediction...she says most probably these topics might come...but dont study on these;
1. clubs and societies.
2. departmental.
3. aportional(costing)
4. partnership.
5. companies appropriation.
 ;Dbest of luck to all
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