i'm not getting fired
 

went to see the boss yesterday and said i could easilly be fired but cos i'm an ok guy and it wa sjust kind of stupid of me bunking off i'm getting a 3 month verbal warning on my record and thats all.

need to take my uni stuff into work on sundays now instead of goign home to do it :D

thats good news jim :D

oh yeah and i got 82% on my 1st accountancy class test too and it's my birthday in a couple of days so its a good week for Jim.

wot about u lovely people?

great :D

i have my first accounting test next week... but its hard for me :( :? i hope i can pass it....

what exactly did you have to do? do you do T,P&L accounts, balance sheets and trial balances?

yeah alot of it was theory tho but i did accountanct at standard grade and apparently got the 2nd highest mark in the whole of scotland so even tho i havent done it for years it all came back pretty easilly.

thing is she wa sbeing really stingy with the marks. i lost 2 marks for writing a liability is an obligation to transfer economic benefits as a result of a previous transaction instead of a past transaction.

same thing, previous is more fluent but cos it isnt exactly the AAC's definition i lost 4% and she took soem off for other little things but 80%s still nothing to complain about :)

:?

i hope my professor isnt like that. but our exam will only contain 20 % theory and 80 % accounts...

can i just ask you something? how do you know something is a short term liability or a long term liability? like stocks... are they short term or long term? :? or are they assets?

erk, i feel stupid :(

Nice to have a good week now and again - sometimes it's even overdue!
Glad to hear you're not losing your job.

Kathleen

a short term liability is a liability that should be paid back within the year ie creditors etc...

a long term liability is one that is paid over many years like a loan. i dont know how u do it but say u have a 10 year 10,000 loan. the 1st year it would go down as a short term liability and u would have 9,000 in long term liabilities.

we haven't done stocks yet and i was always shit at PLC balance sheets but i've got a feeling they would go in represented by along with the cpital/ owners interest but don't quote me on that cos they just as easilly could go into assets.

thanks jim, at least now i know about the liabilities thing :D

i thought it through again and i came to the conclusion that stocks probably belong to assets... at least if you own part of another company. but i cant be sure :? i guess i have to try and find a good book :?

damn, we only had three lectures on accounting and the test is next week :twisted:

Great news :D