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Post Info TOPIC: ICB level 1 Exam
Steven


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ICB level 1 Exam
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Hi

I am about to try the ICB level 1 exam and have done the ICB past paper 2006 and I have a few queries. 

Does anyone know if there are other level 1 papers besides the 2006 paper and the online mocks?

 In task 4 in the 2006 paper it asks you to make a post in relaton to payments made by cash for petrol  (and the amount given includes VAT) .

In the cash a/c I named the Motor Vehicle Running Costs a/c  (petrol  costs are posted here) and  In the VAT a/c I named the Cash a/c.

In the example answer in the Cash a/c  they put "Petrol" and in the VAT a/c they put  "Petrol" .

It also asks you to post in relation to a phone bill paid by cheque which included VAT

In the Bank a/c  I named the Telephone, Postage and Stationery  a/c (one of the a/cs given) and in VAT a/c I named the Cash a/c 

In the example answer  in the Bank a/c they put "Telephone and VAT" and in the VAT a/c the put "Bank/phone"

Am I wrong or is this  just another way to do it and if  i do it my way will I loose points in the exam?

Also the syllabus mentions making entries for payroll transactions -not sure what they mean by this? (can't see this in my Kaplin book)

Thanks :)

 



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