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Author FAO of any accountants i need some help
Matt L
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Registered: 17th Apr 06
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4th Jun 07 at 14:09   View User's Profile U2U Member Reply With Quote
i cant work out why on the balance sheet you add the current assets and the current liabilities and then take them away from fixed assets.

i always thought it was (fixed + current assets) - current + long term liabilties.

cheers matt
Kathryn W
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Registered: 12th Oct 03
Location: Widnes, Cheshire
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4th Jun 07 at 14:13   View User's Profile U2U Member Reply With Quote
God! I did this lst year but cant for the life of me explain !
Matt L
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Registered: 17th Apr 06
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4th Jun 07 at 14:17   View User's Profile U2U Member Reply With Quote
well im in the second year of college (and doing a practice AS paper so really i should of known it but i dont lol)
Hammer
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Registered: 11th Feb 04
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4th Jun 07 at 14:19   View User's Profile U2U Member Reply With Quote
It's current assets, in order of liquidity, minus the current liabilities then added to the fixed assets less any long term liabilities.
taty
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Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
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4th Jun 07 at 15:33   View User's Profile U2U Member Reply With Quote
current assets minus current liabilities
then add or if a minus taken away from fixed assets
you do it so you can see how much working capital you have
taty
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Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
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4th Jun 07 at 15:36   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Matt L
well im in the second year of college (and doing a practice AS paper so really i should of known it but i dont lol)

im doing a practices paper now as well
got my exams on wed doing modules 1,3 and 4
only been doing it for a year now evening classes
Natalie
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Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
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4th Jun 07 at 16:43   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hammer
It's current assets, in order of liquidity, minus the current liabilities then added to the fixed assets less any long term liabilities.

Exactly what Hammer said
Hammer
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Registered: 11th Feb 04
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4th Jun 07 at 16:45   View User's Profile U2U Member Reply With Quote
I must have went into uni that day
Natalie
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Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
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4th Jun 07 at 16:47   View User's Profile U2U Member Reply With Quote
You can take my audit exam 2mora if you like



I want you to
Mad Moe
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Registered: 14th Jun 01
Location: Northumberland
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4th Jun 07 at 16:48   View User's Profile U2U Member Reply With Quote
Reminds me of my AAT days and why I'm so glad I didn't continue with it
Natalie
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Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
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4th Jun 07 at 16:49   View User's Profile U2U Member Reply With Quote
I loved AAT foundation level - lets learn how to write a cheque
Mad Moe
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Registered: 14th Jun 01
Location: Northumberland
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4th Jun 07 at 16:55   View User's Profile U2U Member Reply With Quote
I found AAT mind numbingly boring and decided not to continue onto CIMA had a Total career change and am now going for my Bsc Quantity Surveying and hopefully gain my RICS accreditation
Hammer
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Registered: 11th Feb 04
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4th Jun 07 at 16:58   View User's Profile U2U Member Reply With Quote
I got bored with it as well then went and done business law thinking that actually might have been more interesting

I am now off the drugs and doing well
Matt L
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Registered: 17th Apr 06
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4th Jun 07 at 17:05   View User's Profile U2U Member Reply With Quote
i soon realised (after looking at the asnwers and on here) that they one in the question which you had to adjust was also added up wrong which confused me like hell hence the post.

cheers for the help

[Edited on 04-06-2007 by Matt L]
Hammer
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Registered: 11th Feb 04
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4th Jun 07 at 17:06   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Matt L
cheers for the hell


Thats accountancy for you.
Matt L
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Registered: 17th Apr 06
User status: Offline
4th Jun 07 at 17:07   View User's Profile U2U Member Reply With Quote
lol. glad i didnt take english tbh lol.
Robbo
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Registered: 6th Aug 02
Location: London
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4th Jun 07 at 18:23   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hammer
I got bored with it as well then went and done business law thinking that actually might have been more interesting

I am now off the drugs and doing well
Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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4th Jun 07 at 22:51   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Natalie
I loved AAT foundation level - lets learn how to write a cheque


Lucky you wish i had taken that route tbh.
taty
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Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
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4th Jun 07 at 23:46   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Fad
quote:
Originally posted by Natalie
I loved AAT foundation level - lets learn how to write a cheque


Lucky you wish i had taken that route tbh.

im thinking of doing that next year is it worth it
im wanting to get fully qualified im only thinking of doing that so i can get a job then working my way up
or would it be better to go for it straght away and go for something like the acca
Natalie
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Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
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5th Jun 07 at 14:04   View User's Profile U2U Member Reply With Quote
Well im glad i started with AAT as i went in at the very beginning, had no experience in a/cs (job-wise and studying) so it worked for me.

Then once I got that I started doing ACCA, but it takes a while.............. and does your head in sometimes!!!
taty
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Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
User status: Offline
5th Jun 07 at 15:32   View User's Profile U2U Member Reply With Quote
think i might try that then
cheers
Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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5th Jun 07 at 16:37   View User's Profile U2U Member Reply With Quote
I went down the Uni route and unfortunately is doesn't give you the basics you need to base a good foundation in the subject. The exemptions are good but nothing beats experience and starting from scratch.

Where you working at the moment Natalie?

[Edited on 05-06-2007 by Fad]
Natalie
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Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
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5th Jun 07 at 16:41   View User's Profile U2U Member Reply With Quote
U2U'd Fad

 
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