I'm studying ICB Manual Level III - near the end of the course and will be doing many mock exams and then a mock online exam. Here's the barking bit - for more practise I have most of the family business profit and loss accounts and balance sheets since 1959. These were in the old format. I thought it might be fun to convert them to the newer style. Maybe do a couple each night until I get bored/go insane. To use a real life example would be better than text book stuff even if the text book stuff was more complex. There are actually only two years missing and from about 1982 onwards they are in the newer format anyway after a change of accountant (the previous one was in his eighties).
I would like to start with the oldest ones - but they are in the old money format. Is there an easy way to convert them - say having a cell for (£), a cell for (s) and a cell for (d) - or would the effort of converting be too much.
It was always thought (by the generations still alive) that the family business was established in 1899 and they have that on the side of their vans. Until one day they were stopped by the owner of the garage nearby who disputed they year. He produced a calendar for 1895 and one of the adverts was for the family business.
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Never buy black socks from a normal shop. They shaft you every time.
I think I may start from when the business became a Limited Company - in 1975.
I put this info into Excel in the hope of copying and pasting it here and retaining formatting but it didn't work so I took a photo of the screen, emailed the photo to myself and uploaded the picture to Tinypic.
Now, would the current way be to have thew HP instalments under long term liabilities - or is there a completely different concept when it comes to HP? I don't think this has been covered in my course if it is different.
I should actually have taken a photo of the real Balance Sheet to show you had bad the typing is on the page with an old fashioned typewriter.
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Never buy black socks from a normal shop. They shaft you every time.
Just for fun i thought I would have a go at you first question
Example is if the three components are seperated in to cells
Cell B
Cell C
Cell D
Cell F
Row 2
£
S
d
Decimal
Row 3
25
17
5
25.87083
The formula entered in Cell F, Row3, is
=((B3)+(C3*12/240)+(D3/240))
Good job there were no ha'pennies, or farthings
Just out of interest the "d" symbol for a pennie is from the roman coin denarii, and the "£" symbol is derived from the Italian Lira (its a corruption of the letter L)
not to detract from the current challenge but I was just thinking. As you are preping for ICB level III have a go at these three exams as mocks.
They are the pilot papers for ACCA F3 (financial reporting). Just 50, mostly multichoice questions. Some questions test entry level knowledge of standards but you can just skip those and have a go at the numeric questions.
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
not to detract from the current challenge but I was just thinking. As you are preping for ICB level III have a go at these three exams as mocks.
They are the pilot papers for ACCA F3 (financial reporting). Just 50, mostly multichoice questions. Some questions test entry level knowledge of standards but you can just skip those and have a go at the numeric questions.
Thanks Shaun - I'm beginning to wonder if I am preparing for the exam or just procrastinating. I'll have a go at the exam questions you have listed - there would seem more point to doing that. I suppose some day I might go through the old balance sheets - although I've yet to know why.
I did find an ancient spreadsheet (in Excel 4 format) for the converting thing.
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Never buy black socks from a normal shop. They shaft you every time.
<<< Post deleted as the posts of Eshaa83 have now been deleted by the Admin team and my response makes no sense as a stand alone answer >>>
-- Edited by Shamus on Tuesday 31st of May 2011 02:12:10 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
