AAT Level 2 - Principles of Bookkeeping Controls (POBC) - Mock Exam Walkthrough - Part 2

[@MartyEliBowerMusic]

I passed my ITBK recently with 91%, and found your videos on that to be the best revision. Here for the POBC revision before I book that exam and again, thank you so much - these videos are so great to revise with and you explain things incredibly well. I always feel a lot more confident after watching your videos.

[@abigailregnouf-dardennes7708]

At 5:54, I’m having trouble understanding why the Employers NI is an expense rather than a liability?

[@NajatNassir-q8n]

hi , thank you for the videos , may I have more about synoptic assessment . thank you

[@FreyaWalton]

For task 6 B, the mark scheme on AAT for this practice assessment is saying the answer is a credit entry of £303? Which is the correct answer yours or the mark scheme?

[@Willboardman]

I can see what they were going for within the answers, there’s a debate within the wording in this question. Without the recognition of an automated bank allocation system it just wouldn’t happen like this but equally if they did it’s completely plausible. Regardless I would always say to go with what’s in the answers from AAT!

[@FreyaWalton]

thank you👍@@Willboardman

[@matthewhollis250]

Hello Will. I might be a bit late with this, but I recently started going through past papers for POBC and struggled initially to understand Task 6 part B - 10:14, and eventually got the question wrong in my attempt. Afterwards I redid it and came to the same conclusion you did: £27 debit - because £303 debit bank and £330 credit suspense account, leaving a £27 gap on the debit side to be bridged with a suspense account. However, the mark scheme for the paper says that the answer is £303 credit. Am I fundamentally misunderstanding something, or is the AAT mark scheme incorrect?

[@Willboardman]

Hi Matthew, so if you look at comments below I’ve explained my thoughts on this one, it’s a tricky one this one but I would still go with mark scheme because if that’s what you’re expected to do in the exam you don’t want to lose marks on it :)!

[@matthewhollis250]

@@Willboardman Cheers for that, I probably should've looked at the older comments first. Much appreciated regardless :)

[@Willboardman]

No problem at all!

[@hanimaa.x7964]

Could you please explain the debit and credits for 5c

[@Willboardman]

So the debits here are expenses to the business, the credits are all liabilities because they are not paid immediately :)

[@nuttyrachel]

Would you be able to do a video on the new level 3 Tax Processes for Business please?

[@Willboardman]

I certainly will be :)

[@kristiyannikolov8473]

Is it worth taking IFA courses? Do you provide training and preparation for exams?

[@Willboardman]

It could be worth doing, I’d say there’s probably other options after AAT that I’d go with depending on the route you’d like to take :). If it’s strictly management accounts then CIMA, if you’re keeping your options more open or would like to focus on practice then ACA or ACCA