2014 CAP2 thread

ljc2013 · 29-08-2014 6:16pm

Hi Just found this thread.. im very disappointed with my June results getting high forties and having to repeat 3 of 4. Did better in my mocks that some of my finals however that happened i will never know. Im accepting my fate now and facing into study for repeats. Has anyone any concise notes for audit or even a guide on how to study for the subject. I spent hours this week with the book but getting nowhere...... best of luck everyone

ljc2013 · 29-08-2014 6:16pm

Hi Just found this thread.. im very disappointed with my June results getting high forties and having to repeat 3 of 4. Did better in my mocks that some of my finals however that happened i will never know. Im accepting my fate now and facing into study for repeats. Has anyone any concise notes for audit or even a guide on how to study for the subject. I spent hours this week with the book but getting nowhere...... best of luck everyone

Whoisin thehouse · 29-08-2014 6:32pm

Have you checked out Chartered Grind School?

GAC999 · 29-08-2014 6:51pm

ljc2013 wrote: »

Hi Just found this thread.. im very disappointed with my June results getting high forties and having to repeat 3 of 4. Did better in my mocks that some of my finals however that happened i will never know. Im accepting my fate now and facing into study for repeats. Has anyone any concise notes for audit or even a guide on how to study for the subject. I spent hours this week with the book but getting nowhere...... best of luck everyone

Hi, I don't know if this helps but this is the way I studied for audit in June. I mainly focused on exam papers, doing questions within time limits and stopping when time was up. I would then go through what I had written down and compare it to the solution and I would mark myself on it. I was very strict and would only give myself marks for points that I had written down that were on solution even if a different point was relevant and may get me marks in exam. I tried to get 50% on each question doing this. I felt it was really good motivation and really highlighted areas where I was weak in so I could focus on them. Hope this helps. Good luck in repeats.

Imported but · 29-08-2014 11:21pm

Last year in audit the last couple of sessions and the revision classes were very good for exam approach. Have you got access to recorded sessions? Nothing beats practice under time pressure, but also look over the model answers and examiners reports, and see if you can cover and summarise all the examinable IAS/IFRS in the context of each relevant balance sheet or revenue area. Make sure you don't waste time on irrelevant points, get to know what the examiner is looking for. Practice the journal corrections, they are easy marks if you know what you are doing.

ljc2013 · 29-08-2014 11:47pm

Thanks guys I will try this over the next few days to see how I get on. Appreciate the advice

yourhero · 03-09-2014 2:57pm

For audit, the revision session with Conor Dolan was very good - worthwhile watching if you can access. Other than that, some simple things to look at...

1. Put the journal entries in the format of the suggested solution - examiner has repeated requested this - consider are assets being classified correctly (i.e. classed as stock when they are F&F etc)
2. Use tables in responses where possible
3. For the ethical standards question, state the issue, state the threat (familiarity) and name the standard (ES2) in question -
4. When thinking about evidence, try to think of 3rd party evidence and state this in the exam.

As for organising notes, I had separate sections for

a. Inventory/Receivables, Payables, Tax, Payroll, Bank and Cash, Investments, Share Capital,
b. ISAs
c. Audit Reports (different types) - more

bigmc23 · 04-09-2014 3:55pm

No names please.

Santi101 · 04-09-2014 4:36pm

Thought the FR CGS book was quite handy to have but essentially you have to just hammer out Consol q's yourself and I went through the standards one by one and did q's from notes/past papers on each(either adjs in q1 or small part of q3/q4). CGS book had a reference list at the start showing where diff standards have come up in recent years. Found it handy.

In the exam I brought books, lecture notes but left them in the bag.....on my desk I had CGS revision book tabbed, my own small folder with standards revised and some small qs for each one.....disclosure notes tabbed and ten page notes on Consols with templates for the steps....filled out with the different adjustments id came across doing questions. Good reference when you're flying through a question.

Santi101 · 04-09-2014 4:41pm

On Audit, I probably did 4-5 days overall during study leave...........mainly because SFMA/FR took so long, did a rubbish CA in Audit too(barely 5%) so was very worried.

But watched the Conor Dolan revision classes....he was fantastic....basically got me a comfortable pass I'd say(got 62). Just the thought process, mindset, always digging deeper, thinking about implications of what you read to the overall audit. I didnt do loads of study for it but began to really grasp the whole audit process which i think is most important. Referencing ISA's and IAS's where relevant.

How to lay out answers etc, all very good.

A well laid out folder is also crucial I think but I'd also watch his revision classes back and take notes on the revision notes they give out.

bigmc23 · 04-09-2014 4:47pm

Hi Santi, doing fr again. Any chance of you sending me through a copy of that cgs reference list? Thanks

quote="Santi101;92056489"]Thought the FR CGS book was quite handy to have but essentially you have to just hammer out Consol q's yourself and I went through the standards one by one and did q's from notes/past papers on each(either adjs in q1 or small part of q3/q4). CGS book had a reference list at the start showing where diff standards have come up in recent years. Found it handy.

In the exam I brought books, lecture notes but left them in the bag.....on my desk I had CGS revision book tabbed, my own small folder with standards revised and some small qs for each one.....disclosure notes tabbed and ten page notes on Consols with templates for the steps....filled out with the different adjustments id came across doing questions. Good reference when you're flying through a question.[/quote]

Santi101 · 04-09-2014 5:49pm

Away until monday/tues...if thats any help?

It's fairly basic....just last few years of past papers and the standards covered in each Q...back to 09 i think. I just found it useful after studying a standard, then find where it came up previously and do q's.

bigmc23 · 04-09-2014 6:18pm

Santi101 wrote: »

Away until monday/tues...if thats any help?

It's fairly basic....just last few years of past papers and the standards covered in each Q...back to 09 i think. I just found it useful after studying a standard, then find where it came up previously and do q's.

Yeah If you could send that on when you get back it would really help, would save me a good bit of time! Will pm you my email address. Thanks!

bigmc23 · 11-09-2014 6:50pm

Santi101 wrote: »

Away until monday/tues...if thats any help?

It's fairly basic....just last few years of past papers and the standards covered in each Q...back to 09 i think. I just found it useful after studying a standard, then find where it came up previously and do q's.

Just sent ye a pm there man

Aca student29 · 30-09-2014 6:28pm

Hey

Anyone got aca revisions sfma notes, need something concise for the folder,
Time is going to kill me!!!!
why the hell do we sign up for this torture!!#cap2hell

superb choice of username · 03-10-2014 4:59pm

Hi, any chance of getting a copy of the CGS notes for FR or SFMA from anyone before these darn repeats?? Can photocopy and return!

bigmc23 · 03-10-2014 11:11pm

superb choice of username wrote: »

Hi, any chance of getting a copy of the CGS notes for FR or SFMA from anyone before these darn repeats?? Can photocopy and return!

i dont have the cgs notes but have excellent notes all the standards for FR. PM me your email and ill send them across.

TitianGerm · 03-10-2014 11:15pm

bigmc23 wrote: »

i dont have the cgs notes but have excellent notes all the standards for FR. PM me your email and ill send them across.

Hey would b you mind sending me on a copy of those as well ?

Aca student29 · 04-10-2014 9:39am

Anything for sfma anyone?

bigmc23 · 04-10-2014 6:11pm

emmetkenny wrote: »

Hey would b you mind sending me on a copy of those as well ?

pm me your email

Aca student29 · 05-10-2014 7:30pm

bigmc23 wrote: »

pm me your email

would you mind to send me those too iv pm my email, thanks

superb choice of username · 07-10-2014 3:27pm

How's everyone prepared for these? I'm sitting the ones on Thurs and Friday and all but given up the will to live!! Can't wait for them to be over and get back on track, but it's going to be a crappy wait to see if can go on to FAE.

Aca student29 · 07-10-2014 11:20pm

yes i know the feeling!! I have to do all 4, so dunno how likely it is that il get them. I have the time in my contract anyways to do any repeats again, but would prefer to get it over and done with!!, would be so bad if you could do an elective or something with it, or maybe sit fae course and if you have to do cap 2 exams you must pass them in summer before being able to sit fae!!

that would make sense, however that will not happen, too much money to be lost that way!!
Tax was Ok-ish today i think, really hard to know, timing is still a bitch tho, prob 8-12 marks didn't get to attempt but hopefully I was reasonable in the rest of the questions!!

Really ridiculous having tax close book, I get that it would be a lot easier of an exam and they prob don't want that, but in practice you are constantly either checking ROS or other books, so there must be a way that you make it close book and up the intensity of the exam, even having the rules in front of you does not been they will be applied correctly or that someone would be bale to explain their use of one relief over another. The way exam is structured at the minute its just a memory test!

Hoping variances will appear in sfma this time round!! Don't know how I feel about this one as last time the major difficulty for me was understanding what the hell they were asking in the question. Hoping FR will be ok, I just really panicked last time round and only attempted 2 questions which was dumb!! Ah well come weekend its over for another bit and back in to the mayhem of income tax deadlines at work!! #whatposessedme!

superb choice of username · 09-10-2014 3:32pm

Well today was an alright paper but bit worried, I know I messed up question 1a) and therefore struggled with part b). Worked backwards through the paper, and used the market size actuals in the variances before realising they what they were. So paper now out of 85ish. Argh, I really hope I scraped it as can't face going through that again!

How did you find it ACA Student? How was the audit yesterday?

2014 CAP2 thread

Comments