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BoredSatan

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Discussion Questions :D
« on: November 03, 2012, 03:04:53 pm »
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Accounting Unit 4 Discussion Questions

So some people were asking about Discussion questions on the other thread. So i've compiled a list of discussion questions I've thought of in the last hour. Use this thread to discuss your answers to these questions with fellow students. Also post some questions that you might have come across and struggled with so that we can all discuss together before that dreaded exam :)

1.   Discuss the different methods of depreciation and why it is not recommended that the method be changed regularly. Refer to 1 Accounting Principle and 1 Qualitative Characteristic in your answer
6 Marks
2.   Discuss the effect the movement of the debt ratio has on the profitability and liquidity of the business
6 Marks
3.   Discuss how Stock Cards follow Accounting Principles (Hint: There are 2 principles to discuss)
4 Marks
4.   Discuss the limitations of using Financial Indicators to determine performance
4 Marks
5.   Discuss the benefits are preparing budgets for business performance
4 Marks
6.   Discuss the reasons for Sales Returns and the benefits of offering them to customers
4 Marks
7.   Discuss strategies that a business could employ to improve liquidity
4 Marks
8.   Discuss strategies that a business could employ to improve profitability
5 Marks
9.   Discuss why it is necessary to calculate the cash flow cover when analysing liquidity in addition to using Working Capital and Quick Asset Ratios
4 Marks
10.   Discuss the importance of calculating debt ratio in addition to analysing Return on Owner's Investment
4 Marks

Courtesy of LiverpoolxD
1) The owner is satisfied with the firm's performance because his Working Capital Ratio is 6:1. Discuss the validity of this statement.

2) The preparation of Budgets assist in control and planning. Discuss.
« Last Edit: November 03, 2012, 04:19:04 pm by BoredSaint »
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abcdqdxD

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Re: Discussion Questions :D
« Reply #1 on: November 03, 2012, 03:09:35 pm »
+1
Number 4 is a good one. I've noticed in past papers they always ask for you to state the limitations, but it is very possible that they'll get students to discuss them this year.
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BoredSatan

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Re: Discussion Questions :D
« Reply #2 on: November 03, 2012, 03:12:24 pm »
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Quote from: liverpoolxD on November 03, 2012, 03:09:35 pm
Number 4 is a good one. I've noticed in past papers they always ask for you to state the limitations, but it is very possible that they'll get students to discuss them this year.
You know its kinda the same thing except with stating, you pretty much to dot points. But in discussing, you put it all into a large paragraph :P

So guys, WORD OF ADVICE. Don't get scared with the discussion question. Think about the points that are relevant to the question. Then make it flow into one nice long answer
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abcdqdxD

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Re: Discussion Questions :D
« Reply #3 on: November 03, 2012, 03:13:55 pm »
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Well it's not exactly the same. In past years, they'll ask for you to state ~two limitations, but if they make it into a discuss question, 4 marks = 4 limitations. I can probably only think of 3 limitations on the top of my head right now.. :(
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BoredSatan

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Re: Discussion Questions :D
« Reply #4 on: November 03, 2012, 03:17:32 pm »
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Quote from: liverpoolxD on November 03, 2012, 03:13:55 pm
Well it's not exactly the same. In past years, they'll ask for you to state ~two limitations, but if they make it into a discuss question, 4 marks = 4 limitations. I can probably only think of 3 limitations on the top of my head right now.. :(
But remember stating doesnt ask you to say WHY they are limitations. So i would say, State 2 limitations, explain why they are limitations and maybe do a third for safety and you'll get the 4 marks
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abcdqdxD

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Re: Discussion Questions :D
« Reply #5 on: November 03, 2012, 03:23:57 pm »
+1
From what I've heard in lectures (Neville Box, Simon Phelan), in discuss questions they'll be looking for 1 point = 1 mark. To be awarded the mark for that point you must give also a brief explanation. For example, in the mid-year discuss question (6 marks), students wrote a whole paragraph on one point and only got one mark for it.
So I think 2 points is a bit risky, as you may only get 2/4. I'd say at least 3 limitations + reasonable explanation to be safe.

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BoredSatan

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Re: Discussion Questions :D
« Reply #6 on: November 03, 2012, 03:29:19 pm »
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Quote from: liverpoolxD on November 03, 2012, 03:23:57 pm
From what I've heard in lectures (Neville Box, Simon Phelan), in discuss questions they'll be looking for 1 point = 1 mark. To be awarded the mark for that point you must give also a brief explanation. For example, in the mid-year discuss question (6 marks), students wrote a whole paragraph on one point and only got one mark for it.
So I think 2 points is a bit risky, as you may only get 2/4. I'd say at least 3 limitations + reasonable explanation to be safe.


Well if Neville "THE KING OF ACCOUNTING" Box said it then I'm not arguing against him :P

BTW there are 4 reasons in the book for limitations of Financial Indicators ;)
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abcdqdxD

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Re: Discussion Questions :D
« Reply #7 on: November 03, 2012, 03:31:06 pm »
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I've just thought of these just then:

1) The owner is satisfied with the firm's performance because his Working Capital Ratio is 6:1. Discuss the validity of this statement.

2) The preparation of Budgets assist in control and planning. Discuss.
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abcdqdxD

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Re: Discussion Questions :D
« Reply #8 on: November 03, 2012, 03:32:53 pm »
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I doubt VCAA would expect students to know all 4 limitations though.. after all they said they're moving away from rote-learned responses and assessing higher order thinking skills.
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BoredSatan

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Re: Discussion Questions :D
« Reply #9 on: November 03, 2012, 04:30:55 pm »
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Quote from: liverpoolxD on November 03, 2012, 03:32:53 pm
I doubt VCAA would expect students to know all 4 limitations though.. after all they said they're moving away from rote-learned responses and assessing higher order thinking skills.
Yeah i know, I was just saying that there were 4 since you could only think of 3 :P
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luke_rulz94

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Re: Discussion Questions :D
« Reply #10 on: November 06, 2012, 01:22:52 pm »
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i have a strong feeling the discuss question will be related to product/period costs.
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morantz

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Re: Discussion Questions :D
« Reply #11 on: November 06, 2012, 02:19:09 pm »
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Quote from: luke_rulz94 on November 06, 2012, 01:22:52 pm
i have a strong feeling the discuss question will be related to product/period costs.
How so? Since there have been a few similar questions in company papers?
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abcdqdxD

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Re: Discussion Questions :D
« Reply #12 on: November 06, 2012, 03:01:46 pm »
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Unlikely but possible.. product/period costing theory questions are traditionally 3-4 marks. I'm thinking different depreciation methods as the discuss q
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BoredSatan

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Re: Discussion Questions :D
« Reply #13 on: November 06, 2012, 03:22:59 pm »
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Anyone wanna provide their answers to the discussion questions posted?
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BoredSatan

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Re: Discussion Questions :D
« Reply #14 on: November 07, 2012, 10:24:47 pm »
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No one wants to answer :( people must be too busy with methods/spech etc :P
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