January 2013
1 post
8 tags
International Accounting Standards
Why use international accounting standards?
Provides a ‘framework’ for the production of financial statements
Reduces number of different treatments
Meets the directors duty that financial statements comply with IAS
Meets the auditors report requirements
Ensures accountants follow the same set of rules
Benefits of IAS
Standardises accounts internationally
Easier for user to...
August 2012
2 posts
11 tags
Results!
I am extremely surprised/happy about (most of) these!
History - B - bit gutted about History because I thought I’d done a bit better, enough for an A, as that’s what I got in most of the mocks. I’m dropping History next year though so it’s not a huge setback. I might need to retake depending on what AS grades universities require me to have but overall I’m not...
7 tags
So this tumblr's laid pretty dormant for a while
But I feel I ought to say that it’s one week until results day and this time next week I’ll probably be devastated.
June 2012
1 post
This blog is a bit redundant until my next exams....
Results day on the 16th of August, terrified!
May 2012
23 posts
Critical Thinking June 2010
Section A
Read Document 3
1 You should use the exact words of the author in your answers to question 1.
(a) State the main conclusion of the argument within paragraphs 1, 2 and 3.
“the e-cigarette should be seen as an unwise choice.”
(b) State two reasons that are given to support the main conclusion within paragraphs 1, 2 and 3.
1. “other’s think the price could put...
Critical Thinking June 2009
Section A
You should use the exact words of the author in your answers to questions 1(a), 1(b), 1(c) and 1(d).
1 (a) State the main conclusion of the argument in Document 2.
‘If you want to be happy, you should give your money away.’
(b) Refer to paragraphs 1 and 3 of Document 2 to state two reasons that are given to support this conclusion.
1. ‘The richest countries do...
1 tag
Nixon
How did Nixon intend to end the war using military methods?
1969 - tried an offensive against the Ho Chi Minh Trail to sever enemy supply lines and encourage negotiation, considered invading North Vietnamese “madman tactics” and Vietnamisation.
1970 - continued heavily bombing trail, bombed trail in Cambodia and invaded - had to stop due to anti war protesters.
1971 - launched an...
1 tag
Vietnam essay plans (I don't know why I call them...
Explain why the USA became involved in the defence of South Vietnam in the years 1961 to 1964. (12 marks)
Commitment trap - Kennedy had inherited involvement in Vietnam from his predecessor, Eisenhower, who gave $7 billion of economic aid and military advisers to Vietnam. Similarly, Johnson inherited this commitment again after Kennedy’s assassination in 1963 however he inherited a much...
1 tag
Bonus issues and rights issues
Bonus issues
A company issues free shares to existing shareholders
Uses reserves that have built up and capitalising them (turned into permanent share capital)
NO CASH FLOWS IN OR OUT OF THE COMPANY
Made to acknowledge that reserves now belong to shareholders
Capital or revenue reserves can be used, but capital is used first because they have fewer uses overall
Rights issues
Raises further...
1 tag
Increasing capital
Ordinary shareholders
Carry voting rights
Receive dividends (interim and final) - amounts vary depending on profit
No dividend may be paid if company makes a loss, dividend not carried forward to next year
In the event of insolvency, ordinary share holders will be paid off last
Not repayable - company will have finance for the foreseeable future
Preference shareholders
Carry no voting...
1 tag
Budgetary control
Benefits
Assists planning - setting out objectives in a budget allows the business to ensure it’s plans are achievable within all areas of the business. It is able to see what actions are necessary to achieve the aims set out in the budget.
Co-ordinates business - the budget should be agreed by all managers of the business so all staff will be working together to achieve the same results....
2 tags
ICT in Accounting
Advantages
Accuracy - transactions can be entered on a more accurate basis as usually only one entry per transaction, eliminating errors of only recording one side of the double entry system
Legibility - figures are typed and therefore more legible to avoid the wrong figures being read
Speed - it is far quicker to enter transactions on a computer than to manually record them in the written...
3 tags
WHY DID I TAKE MATHS AT A LEVEL
My C1 exam on Wednesday was completely awful and my S1 today was equally as bad. :/ Gonna retake loads.
2 tags
S1: Probability Notation
P(AuB) (Union of A and B) = P(A) or P(B) or P(A and B)
P(AnB) (A intersection B) = P(A and B)
P(A’) (Not A) = 1 - P(A)
P(B’) (Not B) = 1 - P(B)
P(A’nB) (A’ intersection B) = P(A’ and B)
P(AnB’) (A intersection B’) = P(A and B’)
Addition rule
P(AuB) = P(A) + P(B) - P(AnB)
P(AnB) = P(A) + P(B) - P(AuB)
If mutually exclusive (cannot happen at...
2 tags
15/05: Accounting Unit 1 & History (Britain)
Accounting: I felt this exam went okay, I attempted every question but probably lost a few marks on my written questions as I hadn’t revise them too thoroughly and the table on the effects on net profit wasn’t done too confidently.
History: I did the Richard III question ad the Henry VII question, Richard was on why he became King (eh! :s) and why he failed at Bosworth, Henry was...
1 tag
January 2011 Essay Plans
Explain why the Lambert Simnel rebellion against Henry VII failed. (12 marks)
Although Henry did not know the size, route or power of the rebel armies, they failed to gain much support on their way to the battle of Stoke. This could be because Simnel claimed to be Warwick, another claimant to the throne. However, Henry was able to quell his theory by parading the real Warwick around London as he...
3 tags
I'm going to try and summarise all I know about...
Nature
Unlike his father, Henry VIII rejected defensive campaigns in favour of portraying himself as a strong and ambitious warrior Prince, eager to defeat England’s traditional enemies, the French and the Scottish.
Early campaigns
Margaret of Burgundy - Henry sent troops to Margaret of Burgundy to support her against the Duke of Geulders
Ferdinand (1) - Henry sent troops to his brother...
1 tag
Ratio Analysis: how to improve
Gross profit margin (improvement - problems)
Increase selling price with cost of sales remaining the same - customers may not want to pay new price, therefore negatively affecting profit in the long run
Decrease cost of sales (purchase price) without selling price remaining the same - the quality of the product may be reduced and customers may go elsewhere
Net profit...
1 tag
ACCN1 Narrative Exam Style Questions
Final Accounts
1. Discuss the reasons for accounting for accruals and prepayments in the final accounts. [8]
We use accruals and prepayments during the production of final accounts because accounts are prepared on a credit basis, meaning transactions are recorded as the legal ownership of goods changes, rather than when a payment is made. Because of this, the accounts have to show when...
1 tag
Specimen paper essay plans
Explain why Richard, Duke of Gloucester, made himself King of England in 1483. (12 marks)
Richard was the Protector of the Princes in the Tower, Edward V and Richard of York, following Edward IV’s sudden death. As they were minors, they required a Protector to rule for them until Edward V was of age. There were disputes over who should be the rightful Protector as Edward IV left unclear...
1 tag
History exam plans: Henry VIII
Explain why Henry VIII took part in the Field of the Cloth of Gold in 1520. (12 marks)
To present England as a glamorous and rich Kingdom. Henry spent over a year’s revenue in the diplomatic meeting that lasted a week in order to present himself as an impressive monarch to Francis I and the rest of Europe. He wanted to meet Francis as he and Henry were of similar age and personality.
The...
1 tag
History exam plans: Henry VII
Explain why the cloth trade was so important to Henry VII (12 marks)
England was a rural community and most of industry was wool/cloth so the community largely relied on the cloth trade to make a living. The majority of industry was cottage based and if this trade were to cease many would be living in poverty. There was a large amount of internal trade rather than foreign.
It built relations...
1 tag
History exam plans: Richard
Explain why the death of Edward IV caused political instability in England in 1483 (12 marks)
His sons were under age, the eldest, Edward V being 11, meaning he required a Protector to rule for him until he was of age. There was a lot of factional disagreement over who should have control over the princes between the Woodvilles and the Gloucesters (Richard) as they were enemies.
He failed to...
1 tag
Richard III: The Buckingham Rebellion
Why did Buckingham rebel?
Possible overwhelming guilt of knowing Richard played a part in the death of the Princes - personal conscience
He was a ‘Kingmaker’ - wanted Henry Tudor to be the King as Richard was unpopular and it would be easier to join the winning side from the beginning
Wanted the throne for himself - unlikely as he was a remote claiment
Richard broke promises -...
1 tag
Richard III: Becoming King
How did Richard become King?
Elizabeth Woodville fled to sanctuary - Richard scared Elizabeth away, leaving himself as Protector of Edward V. He also got numerous members of her family killed, for example Rivers, threatening her to stay away.
Pretended to help Edward V with his coronation - Richard publicly presented himself as interested in helping Edward V become King, although it is disputed...
1 tag
Richard III: Why did Edward IV's death cause...
Failed to contract a strong marriage - His wife, Elizabeth Woodville and the Woodville family had a bad repuation and with them in charge it could lead to uprising and disagreement. This threatened his title as King if the public disliked his family.
He left behind 2 wills - Edward did not leave clear guidance as he wrote two wills. The first one left Elizabeth Woodville and 8 others in charge...
1 tag
Richard III: Who killed the princes in the tower?
Potential suspects:
Richard III - most likely suspect. He could not provide proof of the Princes still being alive after locking away Edward V and his brother Richard after the death of their father, Edward IV. As Protector, Richard met the Princes on the way to Edward V’s coronation in London where he later put them in the Tower of London.
Henry Tudor - Had a clear motive to obviously...
