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2014 CAP2 thread

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13

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    #62
    Ryand85
    Registered Users Posts: 2 ✭Ryand85


    Found this a very tricky paper, did a load of work on variances as it had been on every year so that was a bad start. I too found the wording of the first question re transfer pricing strange, didn't seem to suggest any transfer between division? Also did q 2 and 4 (3 looked horrible), did a lot of work on valuations but made a total mess out of the dividend val. so any hopes of a pass would be on a good section A which is probably wishful thinking!


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    #63
    Suz711
    Registered Users Posts: 6 ✭Suz711


    Thank god I'm not the only one who was confused by q1! Very badly written I thought, still dont know if they ment 15% mark up between each stage or only at end. The case study was way too long and no way of making up time on the option questions as they were also horrible. Ended up writting stuff down in no order that made sense just to have information on the page on the chance I'd get a mark or two for it. Guess I'll be seeing the GAA again in October :s


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    #64
    iluvfatfrogs
    Registered Users Posts: 616 ✭✭✭iluvfatfrogs


    I added on 15% transferring between divisions twice and again at the end for revenue


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    #65
    y0ssar1an22
    Registered Users Posts: 16,168 ✭✭✭✭y0ssar1an22


    iluvfatfrogs wrote: »
    I added on 15% transferring between divisions twice and again at the end for revenue


    i added on the 15% for the 1st 2 divisions and then used the e550 selling price for Rev?
    very bad paper i thought.


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    #66
    GAC999
    Registered Users Posts: 26 ✭GAC999


    I did the same with the TP, added 15% for first two, then used selling price for third, no idea if it was right. Have no idea what they were actually asking for in part B of Q4, did valuation bits but thought they were very confusing and spent way too much time on them and therefore didn't get to finish Q 3. Case study was very long I thought.


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    #67
    iluvfatfrogs
    Registered Users Posts: 616 ✭✭✭iluvfatfrogs


    y0ssar1an22 wrote: »
    i added on the 15% for the 1st 2 divisions and then used the e550 selling price for Rev?
    very bad paper i thought.

    Think the €550 was just to be used for part b


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    #68
    Ryand85
    Registered Users Posts: 2 ✭Ryand85


    iluvfatfrogs wrote: »
    Think the €550 was just to be used for part b

    Yeah that's how I took it, had an SP less than this in part A and used this as a disadvantages of full cost pricing.


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    #69
    iluvfatfrogs
    Registered Users Posts: 616 ✭✭✭iluvfatfrogs


    FR was fine this morning, Q1 very straight forward, didn't see any problems with it.
    Q2 very similar to mocks, so whoever mastered that were sorted
    Though Q3&4 weren't too difficult either, just variations on previous question,
    Overall a lot more passable than yday


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    #70
    Chattastrophe!
    Closed Accounts Posts: 3,284 ✭✭✭Chattastrophe!


    I sat the CAP2s a couple of years ago, passed Audit and SFMA but failed Tax and FR.

    I'm considering resitting these two exams in October. Just looking at the website, I see there's some sort of continuous assessment for FR now? (There wasn't any when I last sat the exams.) What does this involve, and what percentage is it worth?

    Thanks! (And good luck to those who sat exams this week!)


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    #71
    cluray
    Registered Users Posts: 44 ✭cluray


    Continuous assessment is worth 10% of final mark. 90min assessment.


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    #72
    Chattastrophe!
    Closed Accounts Posts: 3,284 ✭✭✭Chattastrophe!


    If anyone has FR or Tax notes/books/past papers that they'd be willing to loan me until October (for an agreed fee), please PM me ... I would return them after the October sitting in the exact same condition ... thanks!


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    #73
    Imported but
    Registered Users Posts: 108 ✭✭Imported but


    Chattastrophe! wrote: »
    If anyone has FR or Tax notes/books/past papers that they'd be willing to loan me until October (for an agreed fee), please PM me ... I would return them after the October sitting in the exact same condition ... thanks!

    I might still need mine! but you can download past papers: http://students.charteredaccountants.ie/en/Student-Information/Exams/Papers-Solutions-Reports/

    For Financial Reporting I found this useful as well:
    http://www.iasplus.com/en/tag-types/global/publication-series/ifrs-in-your-pocket

    Good luck


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    #74
    Chattastrophe!
    Closed Accounts Posts: 3,284 ✭✭✭Chattastrophe!


    Imported but wrote: »
    I might still need mine! but you can download past papers: http://students.charteredaccountants.ie/en/Student-Information/Exams/Papers-Solutions-Reports/

    For Financial Reporting I found this useful as well:
    http://www.iasplus.com/en/tag-types/global/publication-series/ifrs-in-your-pocket

    Good luck

    Brilliant, I thought you'd need access to the student portal thing to get the papers! Still waiting to hear back on whether I'll get access to any of that. Thanks!

    I actually still have the books somewhere from 2011, so if I can't get current copies I guess I'll just work from those and hope for the best. :/


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    #75
    Imported but
    Registered Users Posts: 108 ✭✭Imported but


    Chattastrophe! wrote: »
    Brilliant, I thought you'd need access to the student portal thing to get the papers! Still waiting to hear back on whether I'll get access to any of that. Thanks!

    I actually still have the books somewhere from 2011, so if I can't get current copies I guess I'll just work from those and hope for the best. :/

    Tax may have changed in places since 2011, so you might need to see the current material. If you can get access to the student resources you can log in and from the menu items on the left side, although you won't have any Course Materials you might have access to Recorded Sessions which you can watch (just expand the '+' by the CAP 2 folder). See attached screenshot of what I see there (I've just checked).


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    #76
    DonnaCap2
    Registered Users Posts: 14 ✭DonnaCap2


    Good Luck everyone.. Hope it all goes well today!!


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    #77
    TitianGerm
    Registered Users Posts: 27,835 ✭✭✭✭TitianGerm


    Failed all 3 I was sitting. 47 in auditing 46 in FR and done extremely poorly in tax but that was expected.
    I'm gutted with auditing I thought I had got well in to the 60s


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    #78
    Imported but
    Registered Users Posts: 108 ✭✭Imported but


    emmetkenny wrote: »
    Failed all 3 I was sitting. 47 in auditing 46 in FR and done extremely poorly in tax but that was expected.
    I'm gutted with auditing I thought I had got well in to the 60s

    Sorry to hear that you were so close on two of them. Is it worth asking for a remark on the Auditing?


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    #79
    TitianGerm
    Registered Users Posts: 27,835 ✭✭✭✭TitianGerm


    Imported but wrote: »
    Sorry to hear that you were so close on two of them. Is it worth asking for a remark on the Auditing?

    Yea think I will. How did you get on this year ?


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    #80
    Imported but
    Registered Users Posts: 108 ✭✭Imported but


    emmetkenny wrote: »
    Yea think I will. How did you get on this year ?

    2 resits - SFMA and FR. I got SFMA this time (yay) but not even close on the FR. Still, mark was better than I got last year.
    I'm going to ask for a feedback report on the FR to see where I'm wasting time. I just ran way short of time to finish the paper...

    I'll have another go in October and (presuming that I'll pass) I'll also sign up for starting the FAE in November. The Autumn CAP2 results don't come out until 28th Nov but from what I understand the first few weeks of FAE are revision of CAP2 anyway.

    But for now, I'll have to up my game on the FR - third time will *have* to be a charm.

    Sorry it didn't work out better for you. Probably see you in October?


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    #81
    jus_tin4
    Registered Users Posts: 432 ✭✭jus_tin4


    passes audit(50%) and tax(52%). delighted is not the word, in may i got told a family member had lung cancer, and that situation is a bad way, so to pass and to be going through all that is a blessing(was also doing a final year in an non relevant yr i love punishment ha)

    sorry for it didn't go well for!


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    #82
    Kevint30
    Registered Users Posts: 147 ✭✭Kevint30


    jus_tin4 wrote: »
    passes audit(50%) and tax(52%). delighted is not the word, in may i got told a family member had lung cancer, and that situation is a bad way, so to pass and to be going through all that is a blessing(was also doing a final year in an non relevant yr i love punishment ha)

    sorry for it didn't go well for!

    I failed SFMA. Have to say i am gutted, but when I saw your post it puts things into perspective. Fair play to you. Onwards and upwards.


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    #83
    iluvfatfrogs
    Registered Users Posts: 616 ✭✭✭iluvfatfrogs


    The official pass rate for SFMA is 68% but according to posters on here and work colleagues, it seems a lot lower!
    Anyone else find the same?


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    #84
    conor1979
    Registered Users Posts: 192 ✭✭conor1979


    Imported but wrote: »
    2 resits - SFMA and FR. I got SFMA this time (yay) but not even close on the FR. Still, mark was better than I got last year.
    I'm going to ask for a feedback report on the FR to see where I'm wasting time. I just ran way short of time to finish the paper...

    I'll have another go in October and (presuming that I'll pass) I'll also sign up for starting the FAE in November. The Autumn CAP2 results don't come out until 28th Nov but from what I understand the first few weeks of FAE are revision of CAP2 anyway.

    But for now, I'll have to up my game on the FR - third time will *have* to be a charm.

    Sorry it didn't work out better for you. Probably see you in October?

    Most of the lectures before Xmas are revision of CAP2 material. Go to them. Go to them all. Then revise the material after the lecture as soon as you can.

    Also watch ALL the online lectures.

    I can not emphasis this enough.


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    #85
    Imported but
    Registered Users Posts: 108 ✭✭Imported but


    conor1979 wrote: »
    Most of the lectures before Xmas are revision of CAP2 material. Go to them. Go to them all. Then revise the material after the lecture as soon as you can.

    Also watch ALL the online lectures.

    I can not emphasis this enough.

    The problem is that I won't have results from the Autumn resit of FR until 28th Nov and I can't officially enrol in the FAE without having passed all of CAP2. The best I'll be able to do is to try to catch up during December. Thanks for the advice though.


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    #86
    iluvfatfrogs
    Registered Users Posts: 616 ✭✭✭iluvfatfrogs


    Imported but wrote: »
    The problem is that I won't have results from the Autumn resit of FR until 28th Nov and I can't officially enrol in the FAE without having passed all of CAP2. The best I'll be able to do is to try to catch up during December. Thanks for the advice though.

    Nothing stopping you going to lectures though?
    Even if you aren't enrolled?


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    #87
    Kevint30
    Registered Users Posts: 147 ✭✭Kevint30


    Imported but wrote: »
    The problem is that I won't have results from the Autumn resit of FR until 28th Nov and I can't officially enrol in the FAE without having passed all of CAP2. The best I'll be able to do is to try to catch up during December. Thanks for the advice though.

    I always thought that you could provisionally enrol for FAE and attend FAE lectures while waiting for the results.


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    #88
    Lmcs90
    Registered Users Posts: 1 ✭Lmcs90


    Kevint30 wrote: »
    I always thought that you could provisionally enrol for FAE and attend FAE lectures while waiting for the results.

    You can provisionally enrol...unfortunately that's what I am having to do as well. Here's hoping October goes better than June...send your enrolment form with no payment just. That's what I was told.


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    #89
    Whoisin thehouse
    Registered Users Posts: 35 ✭Whoisin thehouse


    The CGS CAP 2 revision courses are starting this weekend


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    #90
    GAC999
    Registered Users Posts: 26 ✭GAC999


    I went to CGS before June exams for Audit and SFMA, I thought it was very good and would definitely say it was worth the money if your struggling with a subject. Good luck with the repeats :)


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    #91
    Chattastrophe!
    Closed Accounts Posts: 3,284 ✭✭✭Chattastrophe!


    Any hints for the FR interim assessment? I'm sitting it next weekend, never sat it before as last time I sat CAP2s was in 2012 before it came in, so any advice at all would be appreciated!


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