ATARMAxxing · Accounting
SACE Accounting Practice Exams with Worked Solutions
20 full-length papers · worked solutions for every question
The 20 practice exams inside the SACE Accounting Mastery Pack, each set out like the real paper with a separate worked-solution guide. Open any paper to see what it covers.
- Q1 (25): Balance-day adjustments and classified income statement (retailer)
- Q2 (25): Statement of cash flows and working capital ratio (sole trader)
- Q3 (20): Bank reconciliation and two-month cash budget (trades business)
- Q4 (30): Inventory card, inventory ledger, debtor turnover and breakeven for two product lines
- Q5 (20): Advice on inventory, debtors and product-range expansion
- Q1 (20): Inventory card (FIFO), ledger and inventory turnover in days
- Q2 (20): Bank reconciliation and statement of cash flows
- Q3 (30): Balance-day adjustments, depreciation and balance sheet extract
- Q4 (30): Schedule of collections, quarterly cash budget and forecast ratios for a start-up
- Q5 (20): Advice on forecast profitability, stability and location
- Q1 (20): Inventory with specific identification, general journal and lower of cost or NRV
- Q2 (20): Monetary unit convention, variance analysis and cash budget
- Q3 (30): Bad debts, allowance for doubtful debts and full balance sheet
- Q4 (30): Statement of cash flows from comparative reports and expense trend analysis
- Q5 (20): Advice on cash position, long-term stability and finance
- Q1 (25): Depreciation (three methods) and asset suitability
- Q2 (25): Debtors control account, ageing analysis and credit policy
- Q3 (20): Bank reconciliation and statement of cash flows
- Q4 (30): Budgeted income statement, budgeted balance sheet and forecast ratios
- Q5 (20): Advice on sole trader versus partnership and finance options
- Q1 (20): Accrued and prepaid expenses and income statement extract
- Q2 (20): Cash budget with a three-month credit collection pattern
- Q3 (30): Inventory card with stocktake loss and inventory ledger
- Q4 (30): Breakeven analysis for three menu items and profit margin trend
- Q5 (20): Advice on pricing, product mix and qualitative factors
- Q1 (25): Statement of cash flows and profit versus cash
- Q2 (25): Balance-day adjustments including revenue received in advance
- Q3 (20): Debtors schedule, bad debt write-off and debtor turnover
- Q4 (30): Comparative ratio analysis over two years against benchmarks
- Q5 (20): Advice on financial stability and debt reduction
- Q1 (20): Inventory turnover, storage and security of inventory
- Q2 (20): Bank reconciliation with errors in the cash records
- Q3 (30): Classified income statement and statement of changes in equity
- Q4 (30): Cash budget for an expansion and overdraft requirement
- Q5 (20): Advice on sources of finance for expansion
- Q1 (25): Units-of-use and diminishing-balance depreciation
- Q2 (25): Schedule of collections and cash budget with capital purchase
- Q3 (20): Allowance for doubtful debts adjustment and balance sheet
- Q4 (30): Inventory card (FIFO) with returns and breakeven for a new product
- Q5 (20): Advice on inventory management and environmental or ethical issues
- Q1 (20): Accounting equation, duality and general journal entries
- Q2 (20): Statement of cash flows and quick ratio
- Q3 (30): Balance-day adjustments and fully classified balance sheet
- Q4 (30): Budgeted reports for a new venture with start-up costs
- Q5 (20): Advice on viability, ownership structure and location
- Q1 (25): Inventory card using specific identification for high-value items
- Q2 (25): Debtors ageing, credit control and interest charges
- Q3 (20): Bank reconciliation and cash control procedures
- Q4 (30): Comparative income statements, expense ratios and gross profit margin
- Q5 (20): Advice on profitability and cost control
- Q1 (20): Prepaid rent, accrued wages and depreciation adjustments
- Q2 (20): Cash budget and why cash and profit differ
- Q3 (30): Inventory stocktake discrepancy and inventory control account
- Q4 (30): Breakeven, contribution margin and forecast profit for a price change
- Q5 (20): Advice on a pricing decision and market trends
- Q1 (25): Statement of cash flows from comparative balance sheets
- Q2 (25): Bank reconciliation with dishonoured cheque and interest
- Q3 (20): Bad debts, doubtful debts and income statement extract
- Q4 (30): Debtor turnover trend and ageing analysis across three months
- Q5 (20): Advice on managing debtors and short-term finance
- Q1 (20): Accounting entity and legal entity with ownership structures
- Q2 (20): Schedule of collections and quarterly cash budget
- Q3 (30): Balance-day adjustments and classified reports for a service entity
- Q4 (30): Forecast ratios and cash budget for an ownership change
- Q5 (20): Advice on moving from partnership to sole trader
- Q1 (25): Inventory turnover versus benchmark and lower of cost or NRV
- Q2 (25): Statement of cash flows with asset sale and loan repayment
- Q3 (20): Depreciation suitability and balance sheet extract
- Q4 (30): Breakeven for two services and profit margin trend
- Q5 (20): Advice on diversifying services with social-trend evidence
- Q1 (20): Debtors control account and schedule of debtors
- Q2 (20): Bank reconciliation and meaning of bank balances
- Q3 (30): Balance-day adjustments with materiality and prudence
- Q4 (30): Budgeted income statement and balance sheet with forecast ratios
- Q5 (20): Advice on forecast profitability, stability and finance
- Q1 (25): Classified income statement for a trading entity with returns and discounts
- Q2 (25): Cash budget with loan and equipment sale
- Q3 (20): Inventory FIFO card and inventory ledger with formal balancing
- Q4 (30): Inventory and debtor turnover in days against benchmarks
- Q5 (20): Advice on working capital management
- Q1 (20): Diminishing-balance depreciation for part years and disposal
- Q2 (20): Statement of cash flows and working capital ratio
- Q3 (30): Allowance for doubtful debts, ageing analysis and balance sheet
- Q4 (30): Cash budget and breakeven for a seasonal business
- Q5 (20): Advice on managing seasonality and finance
- Q1 (25): Balance-day adjustments and income statement extract
- Q2 (25): Bank reconciliation and cash-receipt controls
- Q3 (20): Schedule of collections and cash budget
- Q4 (30): Comparative ratios, statement of changes in equity and drawings
- Q5 (20): Advice on the owner's drawings and long-term sustainability
- Q1 (20): Inventory card (FIFO) with stocktake surplus and sales return
- Q2 (20): Statement of cash flows and non-cash items
- Q3 (30): Depreciation methods and classified balance sheet
- Q4 (30): Forecast budgets for adopting a cloud-based accounting system
- Q5 (20): Advice on technology adoption, costs and benefits
- Q1 (25): Debtor turnover, bad debts and credit control
- Q2 (25): Cash budget for a new equipment purchase
- Q3 (20): Prepaid and accrued items and fully classified income statement
- Q4 (30): Inventory card, inventory turnover and breakeven for an export line
- Q5 (20): Advice on entering a new market, including environmental and ethical factors
Included in the SACE Accounting Mastery Pack
20 full-length practice exams with worked solutions, 20 revision notes, 64 practice questions and 200 flashcards.
Preview a sample note and question free on the SACE Accounting hub →