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CAP2 Repeats 2012

  • 04-09-2012 8:47pm
    #1
    Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭


    Hey,

    so what is everyones predictions/thoughts for the CAP2 exams in October?

    I've heard a rumour that the tax examiner will not be the same one so we could expect a return to the type of exams in the past papers.

    I'm thinking there is a high chance of a Variance or Transfer Pricing question on SFMA going by the summer exam.

    No idea for FR but just hoping for a straight forward consol with subsid/associate and some passable Section B questions.
    Something like a joint venture or step acquisition would be a killer.


«13

Comments

  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    srm23 wrote: »
    Hey,


    Something like a joint venture or step acquisition would be a killer.

    I agree.

    Who knows what will come up...

    All I know is exam questions exam questions exam questions.

    How much repeat leave are people getting?


  • Closed Accounts Posts: 126 ✭✭sodabread


    Hi I have one subject to repeat and am getting five days study leave from my employer.

    Would be interested to hear what others situations are re study time for re- sits?


  • Registered Users, Registered Users 2 Posts: 1,327 ✭✭✭bikeman1


    Hi,

    I have 5 days from my employer, plus I am taking one week's unpaid leave. So I have two weeks off for my FR exam. I really don't want to fail it a second time. Want to get on and do FAE next year.

    I am just going to keep doing questions. I really hope it won't be as harsh as the summer paper. What's everyone else doing?


  • Closed Accounts Posts: 9 CeevieD


    Hi,

    I am doing the same as yourself.It is all I could get at this busy time in the office. Unfortunately I have four to pass which it putting myself under pressure. How is the study going? Are you focusing on any aspects? I am hoping the consol question wont be as bad as the summer question. I failed because of bad timing on my part. It is extremely difficult to finish FR paper. But hopefully I have learned from the Summer sitting:confused:


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    Everyone must be studying really hard...

    Boards is gone quiet on the CAP2's.

    I'm getting worried myself!

    Took me 8 hours to do 3 questions in FR today! It's like having to learn it all over again. I would hate to have to do the whole 4 in two days study leave per subject.


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  • Registered Users Posts: 186 ✭✭EDudder


    Need to get stuck in now. Have the next 2 weeks to do 2.

    Out of interest does anyone know - if you sign up for resits but one is remarked and upgraded - do you get the money for that resit refunded? Probably won't affect me, but would be interested to know.


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    EDudder wrote: »
    Need to get stuck in now. Have the next 2 weeks to do 2.

    Out of interest does anyone know - if you sign up for resits but one is remarked and upgraded - do you get the money for that resit refunded? Probably won't affect me, but would be interested to know.


    It would only make sense that they would refund you.

    What re-sits are you doing? I am going nuts having to do this all over again.

    Has anybody tried the summer 2005 Q for FR?


  • Registered Users Posts: 186 ✭✭EDudder


    Tax and FR, what about yourself?

    Think I'll start straight into past papers for FR, but I'd really need to re-cover the material for tax. Think it was bad time management and a few other things that got me in FR, but I do think it was a lack of knowledge/understanding in Tax unfortunately.


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    EDudder wrote: »
    Tax and FR, what about yourself?

    Think I'll start straight into past papers for FR, but I'd really need to re-cover the material for tax. Think it was bad time management and a few other things that got me in FR, but I do think it was a lack of knowledge/understanding in Tax unfortunately.

    I think tax is manageable enough. At least you can isolate what you need to pass as that which is in the question packs. That's all I done for tax and passed with extra to spare.

    FR is a disaster. Time management is critical; there is no time to even take a piss or gather your thoughts at any stage. It's go go go; 110 miles an hour; and you have to know it all.

    I got all the workings done the last time illustrating the journals, but no Financial Statements. And I failed. I had all workings right bar the FX equity reserve and it's knock on effects.

    Stuck in a quick note saying I would have transcribed the line items and adjusted per my workings, as in it was a time issue and hopefully the examiner would see I had the FR knowledge, but not the time.

    The lesson is you really really got to get the statements done!


  • Registered Users Posts: 186 ✭✭EDudder


    Yeah I got that from the feedback. I still think it doesn't make much sense - would imagine it's more sought after to be competent at actually working out adjustments than just throwing up a pro forma financial statements. Although "it is what the question has asked for" I suppose.

    Do you just have FR?

    Was it the toolkit you used for Tax?

    For anyone else - has there been any mention of whether they are keeping the new loads of theory style of exam or moving back to the old style?


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  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    Does anybody know what the accounting entries are when you find out you made an underprovision for tax?

    Do you debit this years SOCI, or do you debit reserves b/f?

    I was looking at the 2012 mock Q1 for FR.

    In terms of the under provision for tax, this charged to the current year, rather than as a prior year adjustment.

    In other words, say in 2010, I made a provision of 320 for tax, so I

    DR SOCI 320
    CR CL 320

    Then I find out few months later that my tax is 340 and I pay it. What I thought has to be done here is


    DR CL 320
    DR Ret. Earnings b/f 20
    CR Bank 340

    The way they seem to have treated it is to list it in the TB as an expense for the current year.

    I disagree in that the tax expense in the SOCI for 2011 is then overstated. The tax figure they have includes whatever 2011 is, plus the 20 extra we didn't charge last year. That's not the 2011 expense is it; but as a user of the financial statements I would think I am looking at the 2011 expense. But I'm not.

    Also, initially thought the figure in the TB was tax prepaid - is this my fault or should there have been a note explaining what the figure represented?

    I know, why would you prepay tax, but there's no note explaining.


  • Registered Users Posts: 9 Cabbage11


    myshirt wrote: »
    Does anybody know what the accounting entries are when you find out you made an underprovision for tax?

    The. way they seem to have treated it is to list it in the TB as an expense for the current year.

    .

    I haven't seen the question but this is the correct way for an under provision to be treated but the split in the SPLOCI charge would be shown in the notes. so this year we would have Cr Bank Dr CL and then the extra charge goes to SPLOCI as we have under provided in the CL.
    Cr CL with estimated tax charge for next year, DR SPLOCI.


  • Registered Users Posts: 22 smiley00


    Anyone else think that for Tax that a Corporation Tax, losses question is due up? I don't expect as much theory this time anyway? Also hoping Financial wont be as difficult this time, Question one was a disaster for me!


  • Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭srm23


    what does everyone reckon for FR Q1.

    would they dare throw disposal of subsid./step acquisition/consol cashflow?

    its difficult cause most of the past paper questions are for normal subsid/associate so spending most of time doing them rather than going and learning off new stuff!


  • Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭srm23


    smiley00 wrote: »
    Anyone else think that for Tax that a Corporation Tax, losses question is due up? I don't expect as much theory this time anyway? Also hoping Financial wont be as difficult this time, Question one was a disaster for me!

    prob wont be as much theory, heard that was a different examiner.

    there was a losses question in section b in one of the 2011 papers alright.

    could come up in q1 this time though.


  • Registered Users Posts: 5 thebrad1989


    Hey hows it going everyone?...I am re-sitting SFMA next week and I was wondering would anyone have a soft copy of the management accounting revision notes which were initially put up online back at the end of April / May. If anyone has them, I would be appreciative if they could forward a copy on to me. I was able to get the finance revision notes and thus these are not required.

    Cheers

    Adam


  • Registered Users Posts: 144 ✭✭lauma


    Hey hows it going everyone?...I am re-sitting SFMA next week and I was wondering would anyone have a soft copy of the management accounting revision notes which were initially put up online back at the end of April / May. If anyone has them, I would be appreciative if they could forward a copy on to me. I was able to get the finance revision notes and thus these are not required.

    Cheers

    Adam

    Hi Adam are you looking for these notes?


  • Registered Users Posts: 5 thebrad1989


    Hi Lauma....thanks for getting back to me there. I actually have those notes that you sent across however thanks for sending them anyway. The notes I am looking for relate solely to management accounting. Im not even 100% sure that there were revision notes but I was watching a revision lecture which Bernard Vallely took in May and he kept referring to a revision pack. These are the notes I am trying to get a hold of. If you had those notes I would appreciate it if you could send them across to me.

    Thanks anyway for sending the finance notes across, your help is appreciated.

    Adam


  • Registered Users Posts: 144 ✭✭lauma


    Hi Lauma....thanks for getting back to me there. I actually have those notes that you sent across however thanks for sending them anyway. The notes I am looking for relate solely to management accounting. Im not even 100% sure that there were revision notes but I was watching a revision lecture which Bernard Vallely took in May and he kept referring to a revision pack. These are the notes I am trying to get a hold of. If you had those notes I would appreciate it if you could send them across to me.

    Thanks anyway for sending the finance notes across, your help is appreciated.

    Adam

    Unfortunately I don't have a revision pack solely for management accounting . I don't even think I saw one .Hopefully somebody else will have it for you .


  • Registered Users Posts: 5 thebrad1989


    Yeah maybe there wasnt any pack...im maybe getting confused lol...thanks very much for your help tho.


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  • Registered Users Posts: 3 mrsoneill


    Hey hows it going everyone?...I am re-sitting SFMA next week and I was wondering would anyone have a soft copy of the management accounting revision notes which were initially put up online back at the end of April / May. If anyone has them, I would be appreciative if they could forward a copy on to me. I was able to get the finance revision notes and thus these are not required.

    Cheers

    Adam



    hi, is this them?


  • Registered Users Posts: 5 thebrad1989


    That looks like them....thanks very much for sending them across...id say they will come in handy for the repeat all right...thanks once again, appreciated!


  • Registered Users Posts: 36 national express


    Did anyone get any of their marked scripts returned? And if so, did they have any useful points on them? I regret not getting mine now, but at the time I just couldn't afford it with the cost of everything else.

    And does anyone that's good at consolidation have any tips/ pointers?

    If it's a past paper where Q1 is say just asking for a consol SOFP I can get on OK. But if I'm honest, even having done the exam before, if we got the summer 2012 (even knowing now to do Section B first) paper I still think I would easily fail based on time constraints. I find that when there's so much going on in the one question it's so hard to keep track of the NCI and retained earnings and have time to throw together an SOCE after the SOCI & SOFP within the allocated time. And that's even flying through it and knowingly making mistakes. I tried it again today, and I have to say - fair play to anyone that passed that paper in the summer.

    Still on consolidations - I've changed my method a bit since the summer sitting, simply to try and get it done quicker. Does anyone else find it being any use to start a page for retained earnings, and another page for NCI at the very start, and then with each adjustment enter its effect on RE and NCI onto each page straight away? I've started doing this, and I do find it speeds me up a lot, but for some reason I tend to make more mistakes when I use this method. I think it might be that I previously went back over and double checked the adjustments when doing the RE/NCI calculations, but there's just no time for that in the exam.


  • Registered Users Posts: 142 ✭✭Tricky1979


    Hi National Express - I didn't get my marks scripted.


    Regarding you query on Consolidation I'm doing the same by having a page for R.E. and NCI and updating it as I go along. I don't think I'll get everything for these but hopefully a good attempt will get good marks. Time is deffo going to be a factor.

    What are people concentrating on for the rest of your F.R. study?

    My biggest fear is a cash flow q in Q1!


  • Registered Users Posts: 36 national express


    Tricky1979 wrote: »
    Hi National Express - I didn't get my marks scripted.


    Regarding you query on Consolidation I'm doing the same by having a page for R.E. and NCI and updating it as I go along. I don't think I'll get everything for these but hopefully a good attempt will get good marks. Time is deffo going to be a factor.

    What are people concentrating on for the rest of your F.R. study?

    My biggest fear is a cash flow q in Q1!

    Yeah I studied cash flows for the summer exam, and found that surprisingly they actually aren't too bad.

    But I'm really reluctant to give them time this time given the more likely chance of harder stuff coming up. So now id be worried if it does come up it'll have been too long since I looked at it haha.

    I spent time going over foreign fx subs and then realised its probably unlikely to come up as it did on the summer exam.

    Struggling to get any ideas of what is likely to come up though.


  • Registered Users Posts: 4 Cathy0488


    Does everyone agree so that the best method is starting with section b in fr?

    I'm reluctant about leaving the massive 64% question till last but I know that it's recommended....

    Timing was my main problem in June though so maybe it will work.
    any advice?


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    Cathy0488 wrote: »
    Does everyone agree so that the best method is starting with section b in fr?

    I'm reluctant about leaving the massive 64% question till last but I know that it's recommended....

    Timing was my main problem in June though so maybe it will work.
    any advice?

    I believe we need to get started on one of the questions in the reading time, ideally the section B as we have no choice with Q1. Move as quickly as is possible.

    They say you pick up an average of say 1m per min at the start; whatever it is, it reduces to 0.1m per min in the last 5-10mins.

    So the lesson is move on.

    I don't see how I can get this finished in time, so need to strategise with the workings, i.e do the ones with the most marks, so nci, goodwill and consol retained earnings, and do the others on the face of the statement. If I've time then I'll rush some workings illustrating journals and a line or two explaining logic.

    We need 50, so work on the ones with the most marks first.

    I done all the workings the last time but got caught for time on the transcribing/simple maths part.


  • Registered Users Posts: 36 national express


    Cathy0488 wrote: »
    Does everyone agree so that the best method is starting with section b in fr?

    I'm reluctant about leaving the massive 64% question till last but I know that it's recommended....

    Timing was my main problem in June though so maybe it will work.
    any advice?

    That's what we've been told is the best method. And it's the method I think I'll use. But to be honest I still have my doubts about it.

    Put it this way, if I time apportion the marks/minutes - I'll just about get the 2 Section B questions done within the time frame. But there's not a hope I'll get a Section A question completed in the remaining time if it involved more than one statement. Realistically I would nearly need to be flat out leaving all the adjustments out.

    In any other exam I've done in my life, I'd be inclined to get a good run off the 64% and pick up what I can in the rest. But for some reason, the way they mark this they seem to say it works out better the other way round.

    As an aside - I've heard that the Chartered Grind School were still advising people to do section A first, or deciding what suits you best.


  • Registered Users Posts: 477 ✭✭ted2767


    Cathy0488 wrote: »
    Does everyone agree so that the best method is starting with section b in fr?

    I'm reluctant about leaving the massive 64% question till last but I know that it's recommended....

    Timing was my main problem in June though so maybe it will work.
    any advice?

    That's what we've been told is the best method. And it's the method I think I'll use. But to be honest I still have my doubts about it.

    Put it this way, if I time apportion the marks/minutes - I'll just about get the 2 Section B questions done within the time frame. But there's not a hope I'll get a Section A question completed in the remaining time if it involved more than one statement. Realistically I would nearly need to be flat out leaving all the adjustments out.

    In any other exam I've done in my life, I'd be inclined to get a good run off the 64% and pick up what I can in the rest. But for some reason, the way they mark this they seem to say it works out better the other way round.

    As an aside - I've heard that the Chartered Grind School were still advising people to do section A first, or deciding what suits you best.


    Def do section B first I did this in all my exams mainly trying to gain time for section A.
    As for q1 have a method and stick to it and whatever you do don't try to mix two methods as it'll only wreck your head.
    We had David Ahern for consol lectures and whilst some may not agree I found him to be great actually.
    Best of luck with it.


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  • Registered Users Posts: 4 Cathy0488


    ted2767 wrote: »
    Cathy0488 wrote: »
    Does everyone agree so that the best method is starting with section b in fr?

    I'm reluctant about leaving the massive 64% question till last but I know that it's recommended....

    Timing was my main problem in June though so maybe it will work.
    any advice?

    That's what we've been told is the best method. And it's the method I think I'll use. But to be honest I still have my doubts about it.

    Put it this way, if I time apportion the marks/minutes - I'll just about get the 2 Section B questions done within the time frame. But there's not a hope I'll get a Section A question completed in the remaining time if it involved more than one statement. Realistically I would nearly need to be flat out leaving all the adjustments out.

    In any other exam I've done in my life, I'd be inclined to get a good run off the 64% and pick up what I can in the rest. But for some reason, the way they mark this they seem to say it works out better the other way round.

    As an aside - I've heard that the Chartered Grind School were still advising people to do section A first, or deciding what suits you best.


    Def do section B first I did this in all my exams mainly trying to gain time for section A.
    As for q1 have a method and stick to it and whatever you do don't try to mix two methods as it'll only wreck your head.
    We had David Ahern for consol lectures and whilst some may not agree I found him to be great actually.
    Best of luck with it.

    Thanks for the feedback I think I probably will go ahead and do section B first!


  • Registered Users Posts: 36 national express


    In calculating consolidated NCI and retained earnings for a group with a foreign sub:

    Would you convert the post acquisition retained earning at the average rate, or the closing rate?

    I would have thought as it's a balance sheet item, it would be converted at the closing rate, and any difference would be taken care of by the FX translation reserve calculated?


  • Registered Users, Registered Users 2 Posts: 146 ✭✭HeinekenTicket


    In calculating consolidated NCI and retained earnings for a group with a foreign sub:

    Would you convert the post acquisition retained earning at the average rate, or the closing rate?

    I would have thought as it's a balance sheet item, it would be converted at the closing rate, and any difference would be taken care of by the FX translation reserve calculated?

    Average rate for post-acq retained earnings.

    Closing rate applies to the assets and liabilities.


  • Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭srm23


    not bothering with that to be honest, same examiner, he's hardly going to ask the same question


  • Registered Users Posts: 36 national express


    srm23 wrote: »
    not bothering with that to be honest, same examiner, he's hardly going to ask the same question

    Suppose that's true. I thought the summer q and that united question are pretty good case studies though as they've got a lot of what could possibly come up.

    What stuff are you concentrating on/covering yourselves?


  • Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭srm23


    i did all the past papers although skipped a few questions from around 2009 that were really tough. and went through the question packs that were on the cai website during the year for each standard the revision course mentioned, at least now ive an idea of most things for section b!

    prob not gonna bother with that fx question, or ratios this time. hoping for something like contruction contracts! they got a lovely question on that in summer 2009 easiest 18 marks ive come across!

    i did both Alpha & Herd a good few times hoping for something like one of them!

    went throught disposal of subsid today, hoping for none of that or step-acquisition which is the only thing ive prob not looked at at all

    ive done a bit of cashflow but ill be seriously relying on the solution im bringing in to get me through that!


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  • Registered Users Posts: 277 ✭✭rockman15


    srm23 wrote: »
    i did all the past papers although skipped a few questions from around 2009 that were really tough. and went through the question packs that were on the cai website during the year for each standard the revision course mentioned, at least now ive an idea of most things for section b!

    prob not gonna bother with that fx question, or ratios this time. hoping for something like contruction contracts! they got a lovely question on that in summer 2009 easiest 18 marks ive come across!

    i did both Alpha & Herd a good few times hoping for something like one of them!

    went throught disposal of subsid today, hoping for none of that or step-acquisition which is the only thing ive prob not looked at at all

    ive done a bit of cashflow but ill be seriously relying on the solution im bringing in to get me through that!

    pretty much the exact same as i've done...literally the same today.

    I have a seperate question: im struggling to nail down whether I'm to use the full or partial consolidation method. Is there any indicators to suggest which is which? Obviously when you're given the amount NCI is to be valued at you give the share of goodwill. But in the Alpha Q (S11) for example, theres no clear indicator? Any suggestions or ways to remember would be welcome. Fairly panicing about it at this stage.


  • Registered Users Posts: 36 national express


    Feeling quite jealous of people only repeating fr at the minute. There's another solid week for that.

    I have tax so debating wether to go hard on tax for the next few days or keep ticking away at fr too.

    Does anyone have any info on the format of the tax exam? I've had mixed predictions from people - some say it should be back to the previous format of mainly computational, whereas some say it would have been written at the same time so it'll be theory based again.

    Really annoying studying for an exam you don't know the format of.


  • Registered Users Posts: 277 ✭✭rockman15


    Feeling quite jealous of people only repeating fr at the minute. There's another solid week for that.

    I have tax so debating wether to go hard on tax for the next few days or keep ticking away at fr too.

    Does anyone have any info on the format of the tax exam? I've had mixed predictions from people - some say it should be back to the previous format of mainly computational, whereas some say it would have been written at the same time so it'll be theory based again.

    Really annoying studying for an exam you don't know the format of.


    im the same. Spending Sunday and Monday on tax, then getting back into FR wednesday and thursday.

    i'd expect it to have at least the same amount of theory as the summer. The examiners report largely saying poor application of theory to situations and poor explanations where requested. I dont think the examiner has changed, if thats what he's saying expect the same.


  • Registered Users, Registered Users 2 Posts: 914 ✭✭✭The Phantom Jipper


    So what's on everyone's "bare minimum" list? Is this a pretty fair and generic summation?

    Consols
    IAS type q
    Ratios
    Cashflows
    Some of the meatier IASs - 11, 16 etc?

    Judging from the resit lectures in the Institute, he seemed to be leaning toward the first three making an appearance again and basically had to be coerced into running through a cashflow question. He also gave short shrift to the idea of a sub disposal making an appearance.

    Also what're peoples thoughts on cashflows? I'll avoid them on the day if I can but i'm afraid of them getting snuck in to q1 either as an add on to an IAS1 question or appearing as a consol cashflow like it did a few years ago. Are the chances of that fairly remote do ye reckon?


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    To be honest, I'm expecting this FR paper to be a consol in Q1 involving a reduction of % holding down to joint control, an soce and eps; a single entity cashflow in Q2; four 4/5m in Q3; and a Trial Balance single entity with simple FX, a lease calc and a deferred tax calc in Q4.


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  • Registered Users Posts: 36 national express


    Do you think the resit course lecturers have any knowledge at all of what's likely to come up?

    It seems strange to do up that resit plan that concentrates on certain topics if they had no idea what was going to come up.

    I might concentrate on covering all those topics on Wednesday and Thursday.

    Any predictions for Tax?? Or anyone have any recommendations for how to spend tomorrow in regards to Tax?


  • Registered Users, Registered Users 2 Posts: 914 ✭✭✭The Phantom Jipper


    Do you think the resit course lecturers have any knowledge at all of what's likely to come up?

    It seems strange to do up that resit plan that concentrates on certain topics if they had no idea what was going to come up.

    I might concentrate on covering all those topics on Wednesday and Thursday.

    Any predictions for Tax?? Or anyone have any recommendations for how to spend tomorrow in regards to Tax?

    Just on the resit lectures, obviously everything I say can be taken with a massive pinch of salt, I don't have a clue BUT the lecturer did have an air of confidence about him that I think would have been unwise if he genuinely didn't have some sort of insight into the examiner's thought process. One of the comments he made a few times was that this examiner is focused on "testing the basics". What that means is anyone's guess but it does seem to reduce the possibility of certain topics making an appearance.

    That said, a poster above fancies some sort of sub disposal to appear so it really is anyone's guess. Unfortunately for us.


  • Registered Users Posts: 142 ✭✭Tricky1979


    Myshirt - is there any previous question to refer to for your prediction for "Q1 involving a reduction of % holding down to joint control".

    I agree with the last poster that the revision lecture said with confidence that the basics will be the focus - I think my basics are a lot different to his!

    Did anybody to the chartered grind school revision courses - and did they have any pearls of wisdom?!


  • Registered Users Posts: 277 ✭✭rockman15


    did it for FR Summer exam. Was alright. I've now got a hybrid approach to my consolidation questions but the CGS method is only helpful when it it is a straight forward consolidation as they were prior to maybe, autumn 2011. Since the Q has become more on time pressure the method isnt exactly suited to scoring a lot of marks as you would fill in the SOFP and SOCI and SOCE as the last "steps" ini the process, which is a bit ridiculous when you think about it as its where the majority of the marks are going!


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    Does anyone know if we can write on our own paper during reading time? Or is it just the physical paper itself?


  • Registered Users Posts: 36 national express


    You can't write in the answer booklet if that's what you mean.

    You can make notes on the exam paper just.


  • Registered Users Posts: 36 national express


    rockman15 wrote: »
    did it for FR Summer exam. Was alright. I've now got a hybrid approach to my consolidation questions but the CGS method is only helpful when it it is a straight forward consolidation as they were prior to maybe, autumn 2011. Since the Q has become more on time pressure the method isnt exactly suited to scoring a lot of marks as you would fill in the SOFP and SOCI and SOCE as the last "steps" ini the process, which is a bit ridiculous when you think about it as its where the majority of the marks are going!

    I've got a bit of a hybrid method too. But really, I still can't see myself realistically being able to fill in the majority of the sofp, soci, or soce until I've worked out how most of the adjustments effect the numbers.

    On that topic, I really hope they don't ask for all 3 in question 1. Not from a difficulty point of view, it's just near impossible time restraint wise. Would you all be expecting that to be the way it's asked, as it was in June?


  • Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    You can't write in the answer booklet if that's what you mean.

    You can make notes on the exam paper just.


    I would like to write on a sheet of my own to plan my answers. Have it constantly by my side.

    Or alternatively, I will start a Q in the reading time; and then copy it down as soon as they say we can open the answer script.


  • Registered Users Posts: 36 national express


    Quick question for anyone that passed tax, or anyone who's doing it tomorrow.

    In a ct comp, do you think you need to use the terms 'section 243b' or section 396b(3) relief, or is it ok to just write 'loss relief forward' or 'group relief' etc?


  • Registered Users Posts: 36 national express


    myshirt wrote: »
    You can't write in the answer booklet if that's what you mean.

    You can make notes on the exam paper just.


    I would like to write on a sheet of my own to plan my answers. Have it constantly by my side.

    Or alternatively, I will start a Q in the reading time; and then copy it down as soon as they say we can open the answer script.

    I think there might be a scrap booklet you can use but I'm not 100% on that.


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