Help needed for Unit 23 [Archive] - AAT Discussion Forums

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neogen

30-01-05, 01:00

Hi, I'm currently doing unit 23 in the foundation level and am struggling quite a bit. Main reasons for struggling is I do not work in an environment that is actively helping/supporting me through the AAT course, my current job though in finance is not in accounts and lastly I have been out of any kind of academic study for over 18 years and am finding it exceptionally difficult to get my head around this way of thinking and completing the questions. I am already 6 weeks behind handing in this unit and the next unit was supposed to be handed in last week (which is not even started yet). What I am looking for is example answers, maybe someone sharing the knowledge they have for this unit. You can reply through this thread or via my email address: Nick_Lawrence(at)btopenworld.com (replacing the (at) with @) Any help is welcome and greatly appreciated. Many thanks Nick

heathernaughty

01-02-05, 01:00

Hi I am struggling too! I have worked in payroll but not accounts. I do not have any work at the moment. I seem to be getting behind cus i cant get my head round the debit/credit theory! Whenever i query it with my tutor he gets short-tempered with me thinks i should already be able do it by now - its startin stress me now! Heather

Carley

03-02-05, 01:00

Hi Guys, I'm currently taking the AAT foundation (going through my exams at present) to try & help...... whats Unit 23 about again???? Credits & Debits... ... Always remember that in accounts debit is money coming in and credit is money going out. Try to remember PEARLS P urchases E xpenses A ssets ..................Are all Debits R evenue L iabilities S ales.....................Are all Credits. Best of luck hope it helps!!!! Carley x

JamieJ

04-02-05, 01:00

Neogen I'm saddened that your tutor gets short tempered when you are looking for assistance. This Dr/Cr thing really is like learning to ride a bike. Once you've got it , you'll wonder what all the fuss is all about. Try to think about Double entry in your day to day activities. Such as (and this will only work if you are right handed) when you go shopping. 1. Think about Debit and Credit in you mind. Visuallise the words written on an empty page. Which is on the left and which is on the right ? Got it ? Good! 2. Now imagine that you are buying something in a shop / pub etc. How are you transferring the cash ? With your right hand. Guess which side of the page you record the transaction . Right ! on the right hand ie Credit side. 3. So if you've credited you cash account , which side do you record the receipt of the thing you have just bought ? That's right the Debit side. 4. And that Debit entry can be Fixed Assets ( if you buy a computer / car etc etc) or Electricty / Stationery /postage etc etc/ which of course are P&L items. 5. The same technique can be used if you pay on credit / cr card etc. ie you pay on the Cr side . Therefore all creditors and Cr side. 6. What about cash coming in? Well if you remember that cash going out is on the left, then cash comng in simply must be on the other (ie: right) side. Try it out and let me know if it works for you !

Columbia

09-02-05, 01:00

Isn't Unit 23 Achieving Personal Effectiveness? I would also appreciate any guidance available on this subject. Cheers Tracy

neogen

11-02-05, 01:00

Thanks all for help and advice. Regards Nick

neogen

28-02-05, 01:00

Just received the letter informing me that I have passed this unit. So a big thanks to all that helped. THANK YOU! :o) Nick