商业会计考试题集Exams_Accounting for Business2005-2008 Edwards.pdf

ACCOUNTING FOR BUSINESS – NOVEMBER 2005 SUGGESTED ANSWERS AND EXAMINER’S COMMENTS IMPORTANT NOTICE When reading these suggested answers please note that the answers are intended as an indication of what is required rather than a definitive “right” answer. In many cases there are several possible answers/approaches to a question. Please be aware also that the length of the suggested answers given here may be somewhat exaggerated from what might be achieved in the reality of an unseen, time constrained examination. EXAMINER’S GENERAL COMMENTS • Candidates were generally more successful when asked to “describe” an aspect of accounting and/or “to prepare” an accounting statement and/or to “calculate” figures. • Candidates were less successful when asked “to explain with reasons” or to provide “examples to support” a description or calculation. This may have caused some candidates to achieve a lower grade than they anticipated. • Candidates are advised to support any calculations with relevant workings. An incorrect figure supported by workings allows the Exam iner to reward a correct methodology even if it contains arithmetic errors. • Better scripts included detailed calculations on a separate page of the Examination answer book. • Many candidates lost significant marks by writing all they knew about a particular word or phrase which appeared in the question. Thus for example in the Examination Question 7 referred to different aspects of a budgeting process. This was taken by many candidates as a signal to write all they knew about budgeting as described i