Did my mock online for my ICB manual level III yesterday and got 94%. The 6 points I dropped were all to do with ratios like gearing. I especially have a problem with gearing. I even cheated and looked at a past paper for two of the questions and STILL got them wrong.
So I've two weeks to learn these ratios. Any hints as to how I learn them. I've tried cards - the ratio name on one side and the formula on the other. I can read the formula and name the ratio - just can't do it the more conventional way of reading the name and coming up with the formula.
The exam is booked for 5pm in a fortnight. I was hoping for a pass at a good level. But when I got 94% in the mock and the 6 points dropped were all to do with ratios I could try for 100%. I can do all the other parts of the exam because they are all bookkeeping. I can write down where both parts of the double entry are. But with ratios it isn't so easy. Not really bookkeeping IMO.
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Never buy black socks from a normal shop. They shaft you every time.
gearing like many ratio's has no predefined format so is calculated in different ways giving quite different answers.
Unless the ICB give the ratio format to be used for gearing then it is quite possible that your correct answer is quite different to their correct answer.
With all ratio's the key is that they must be consistent between periods.
Certain ratios are set in stone but gearing is not one of them. In the ACCA exams you have to show the calculation and different answers can all get the marks so it may all come down to whether the person doing the marking understands the subject.
I'm with you on the learning style. Name on one side, formulae on the other. Once you have them all, practice, practice, practice.
good luck with the exam matey,
all the best,
Shaun.
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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.
By the way, don't know is this helps but I provided James (not the ICB one) with a breakdown of the profitability and efficiency ratio's that may also prove of use to you.
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.
Thanks - I've printed it off so hopefully that will help me as well. You're right about the practise. I did 8 paper mock exams as well as the online one and it was always ratios that tripped me up. That and a calculator with sticky buttons. And mental arithmetic that was, well, a bit mental. 18000 + 1500 = 19550 ehm, no it doesn't. Funnily enough, when I was talking to my older brother about my mental arithmetic failures and asked him what 18000 + 1500 was he also said 19550.
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Never buy black socks from a normal shop. They shaft you every time.
