FAE September 2015

Hi I have block releases in feb and jun, but students from grant Thornton and pwc have a block release 1st week in jan...am I missing something as I thought you had to pick either feb or Jun for this? Many thanks

Hi All

As someone who just passed FAE 14 I though I'd put up my thoughts for those doing FAE 15. So in no particular order;

1) Don't worry about the marking scheme - People waste a lot of time trying to understand this but in my mind its a complete waste of time. My approach was they can mark it anyway they like, at the end of the day there are 6 subjects, if I answer each with enough detail I will pass the paper. Simple as that.

2) As soon as I got off on study leave I started cases - Do a paper, look at the solution and repeat. The first 3 weeks I got hardly anything right and thought I would never pass this exam. But after 3 weeks I started to get the papers and the answer structure that appeared most often in the solutions. I focused on putting the basic's on the paper first and am then bulking up my answer with the technical/complex stuff. I am confident that the basics determine if you pass/fail with regard to getting a RC/C/HC - the complex stuff determines where you rank against everyone else.

3) I kept my laptop with a spread sheet open in front of me at all times. If a solution had a list type answer I created a new tab and pasted the info in. If I thought of something that might be relevant I googled it and pasted it in. Even if you can answer one indicator (FAE 14 - audit - directors responsibilities) from a list this frees up time for other indicators. Similarly have a tab for cases - I had every possible case for FAE 14 (about 173 in total I think from steps, past papers, books etc.) in a list with indicators across the top (the institute issue one but it is uploaded too late). As I competed a case I put brief notes in. Once I competed the cases from a book I printed the notes and stuck it to the front of the book. Same for my cases folders. For me it was the fastest way to find templates in the exam.

4) Don't get too hung up on having perfect folders - I had the notes printed with a couple of tabs in and the spread sheet from point 3 above printed for the core. I didn't have a folder for elective beside the notes from lectures. It takes a lot of time to have a perfect folder. Spend that time putting the info into your head instead.

5) In the exam the board and others on here recommend anything from 1 hour to 2 hours on planning and structuring your answer - that's fine but my approach was different. I read the paper twice in the 30 mins allowed - spent max 15 mins planning and then wrote like hell. I wasn't stuck for time on either the core or elective. On both days I spent the last 20 mins doing an executive summary and reviewing my answers. Planning is fine but it doesn't get you marks. A lot of people fail on depth of answer (ie not enough detail) - You know the information after weeks of study so don't fail on trying to put down the perfect answer with just the right amount of info. Put down all you have learnt that is in any way relevant.

6) Take a couple of days off for AAFRP if you can. Its just one indicator but one that gives you confidence and a bit of leeway in the final exam if you get a C/HC. All's not lost if you don't get these grades but I would recommend taking a couple of days to give it your best shot.

7) Don't get hung up on the mock exam or results. The mock exam for core in 2014 was ridiculous. Even after reading the solution I couldn't do it. It is completely over the top and designed to frighten students more so than actually prepare them for the actual exam. The elective 2014 mock was straight forward and was in no way representative of the actual exam which had a load of curve balls thrown in. I cant stress enough how these exams do not represent the actual exam.

8) Exercise - sitting down all day looking at books is bad for your head and well as your body. Exercise to keep sane and have healthy meals in between the rubbish comfort food you will no doubt turn to regularly.

9) Whenever I got fed up of the whole thing (a weekly occurrence) I looked at prior year pass rates and kept telling myself that 74% of people passed this thing. Like the old joke about you and another person being chased by a bear goes - you don't have to outrun the bear, you just have to outrun the other person. Be better than 30% of the people doing these exams and you will pass. Although quite stark that thought got me through a lot of depressing days in a reading room.

10) Good luck to you all - this time next year this will all be over.

Nothin but the Truth wrote: »

I hate to be the bearer of bad news but the pass rate for the core will go down next year, without any doubt. Chartered aren't messing around anymore, proven by this years results. I have been told by many in Chartered that they are not goin to drop their standards anymore, they will try to reduce borderline cases and it will be either u deserve to pass or u deserve to fail. I was lucky to pass PM this year with a yellow (2Cs) out of 5 I reckon. Chartered dnt want this happening anymore which is evidenced by the new format this year. I see this year as the first time Chartered have got their layout right. FR and Strategy playin a central role and mgmt acc being a stand alone topic (expect 3 indicators this year by the way). I dnt want to frighten people but this a proper test this year, no scrapin by on FR and Strategy. If u dnt know these two areas in great detail u will not pass, simple as that. This is an especially tough year for repeaters as the same amount of work which would of got u a pass this year will not get u a pass next year. FR and mgmt acc need to be at a higher level than last year which means extra work needs to be put in during busy season. Best of luck to all, get a good road map early on and put the extra work in on FR, mgmt acc and strategy before study leave. Then cases, cases and more cases for the first 7/8 weeks of ur 12 weeks (big 4 people) and then re-assess after that. If any1 needs any advice just give me a shout

Sorry now, you have been told by many in Chartered? You are doing very well as I have never talked to anyone who knows anyone within the Exam Boards but you seem to have talked to multiple people, can I ask how you did this as would be very handy going forward!

Has anyone tried to watch Financial Reporting lecture 2&3? It looks for a username/password any my usual login will not work.

prettyrestless wrote: »

I just tried it there and I'm having the same problem. I'll send a quick email to chartered about it.

same problem. I contacted the institute. No reply.

Hi guys,

I'm repeating both the core and the audit elective this year and I'm just wondering if anyone out there who has repeated these in the past has any tips or hints? Cheers!

Energy Star wrote: »

Did you find it? Can't seem to see it anywhere.

Yes. If you go to the recorded sessions in the student portal, it is under the FAE pre christmas tab. Sessions 6 and 7 aren't up yet for some reason.

Bioni wrote: »

Can someone tell me the dates for the mocks in 2015? I am repeating the FAE this year and dont have access to the timetables

30th June - 2nd July

Hey. Happy new year. Can't access my student login. Could anyone put up group 7 timetable don't want to miss any lectures.? When is the aarfp workshop definitely don't want to miss that.?

prettyrestless wrote: »

Does anyone know what we need to bring to the AAFRP workshop?

The planning and delivery schedule says nothing is required on this but assume there will be an email sent out if anything is required. The first workshop I have is the 7th March so there's a bit of time.

Does anyone know when the elective timetables will be published and/or how many additional lectures are we talking about here?

Kevint30 wrote: »

Have a look at your updated post xmas timetable. It may have the electives included in it. Mine does anyway.

Mine doesn't. I really hope they put them up soon!

Kevint30 wrote: »

According to my timetable there 11 sessions for Auditing and 10 for tax starting in March

Ah that would make sense as I have loads of core lectures in Jan and Feb but they trail off a bit in March and April. Thanks a lot!

Could someone upload the tax elective timetable for Belfast.

Thanks in advance!

Debs23 wrote: »

Could someone upload the tax elective timetable for Belfast.

Thanks in advance!

& Galway please??