I've this weekend had a bit of a mental battle with the BA5 Partnerships paper. Did anyone else find that the mocks didn't resemble the real examination?
Anyway, I learnt and revised in the usual way through self study using the Kaplan text and completed the mock on Friday. First of all the exam took me 15 minutes (2 hour limit) and seemed very simplistic and I scored 100%. Great, I thought. I was surprised at how little time it took me so decided to do the real thing. Thats when I ran into trouble. First of all the actual exam didn't resemble the mock I had just done. As a result I just missed out on a pass with a score of 84%. I was a bit annoyed by the difference between mock and actual and due to the lack of feedback in the report I was guessing almost on what exactly I had got wrong. I knew it had something to do with Goodwill as the Kaplan book didn't cover this for partnerships. As I had the Business Accounts book by David Cox from previous AAT studies I decided to read this text and complete the accompanying scenarios and studies. It was much more in depth than the Kaplan book and more difficult than the ICB exams so I was feeling confident again as I was starting to see where my mistakes lay.
So today I done another BA5 mock. This time the mock version did resemble the previous actual examination and I got a 91% score. I felt like I had done really well so couldn't understand the 9% drop. Having looked through again I found that I had grouped a bank overdraft incorrectly as a Current Asset instead of a Current Liability, a silly mistake to make but didn't effect any actual calculations (eg everything balanced and working capital was the same) so i expected to lose marks but felt 9% was harsh.
Due to this, I decided when I done my actual I was going to go into overkill. So I done the test again and went to extremes in checking everything. Where a Net Profit was required, I went the full length completing a balance sheet to double check my work. Where current account calculations where required, I drafed full T accounts to cross check my work. When I finally pressed the 'Finish' button I was a little apprehensive but glad to say I got 100%.
I just felt the need to write this as I know I've made mistakes but felt like the Kaplan book could've covered this area better and that the mock could've resembled the actual exam which I didn't feel like the first one did. All's well now as it's been complete but I wanted to share my experience to see if others have had issues or whether it was just me?
Thanks
Dean
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