Cap 2 Repeat Results

Hackysack

I've heard rumours that PwC have let all of the people who failed the CAP2 repeats go. Has anyone else heard that?

prinz

Hackysack wrote: »

I've heard rumours that PwC have let all of the people who failed the CAP2 repeats go. Has anyone else heard that?

Mate of mine in KPMG told me that's what happened over there anyway, not sure if it was all but definitely some. My training manager even got a letter from the institute about the situation, detailing the only circumstances it can happen in.

MBMD

I have to repeat one exam in the summer, i rang the institute and they said to apply for the exam before the February deadline, but that leaves me in the dark, with lectures notes etc. does anyone have any idea as to what the next step is?

prinz

MBMD wrote: »

I have to repeat one exam in the summer, i rang the institute and they said to apply for the exam before the February deadline, but that leaves me in the dark, with lectures notes etc. does anyone have any idea as to what the next step is?

Yep I contacted them too, we don't have to go to lectures like we did last year. I was told there will be an optional revision course starting in the new year, the details will be up on the website in mid december, and then to just fill out the exam enrollment form when it goes up. I was thinking we'd be put back into CAP2 groups, for the full whack of lectures. I have no idea if we get access to notes this year.

King Keano

There were 5 laid off in Deloitte in belfast who all failed at least 1 of the CAP 2 module repeats.

ma.long25

Well in KPMG in Financial Services nearly all people who failed where let go..

Its sad really aint it....

dustyrip

ma.long25 wrote: »

Well in KPMG in Financial Services nearly all people who failed where let go..

Its sad really aint it....

Why were some let go and others kept on? Same contract of employment everyone starts on isn't it?

ofjames

everyone who failed in bdo was given the chop

shelly2

Jamesw2 wrote: »

Any advice from those who passed? How did you do it? What ques did you do first etc...

Gonna start studying again after Christmas. This is such a long P.I.T.A. paper.

James, I thankfully passed the 2 exams that I had to repeat, one of those being FR.

I only received 51% but what I believe got me over the line was this:

(1) I knew that I would have absolutely no time to stop and think about anything in this exam - I went in all guns blazing started drafting my income statement & balance sheet. Drew out all the usual T accounts.

(2) Had the templates of the answer done out on the paper before I really read it in detail

(3) A little bit of luck

I came out of it exhausted but my technique worked. Id say just practice questions questions questions and youll get quicker at it all

If your determined, you will get it. Dont be listening to ridiculous negative comments that the old school people are posting. They might have passed first time but at the end of the day you will have the most recent up to date qualification - with no disrespect to those with the old course.

ma.long25

shelly2 wrote: »

James, I thankfully passed the 2 exams that I had to repeat, one of those being FR.

I only received 51% but what I believe got me over the line was this:

(1) I knew that I would have absolutely no time to stop and think about anything in this exam - I went in all guns blazing started drafting my income statement & balance sheet. Drew out all the usual T accounts.

(2) Had the templates of the answer done out on the paper before I really read it in detail

(3) A little bit of luck

I came out of it exhausted but my technique worked. Id say just practice questions questions questions and youll get quicker at it all

If your determined, you will get it. Dont be listening to ridiculous negative comments that the old school people are posting. They might have passed first time but at the end of the day you will have the most recent up to date qualification - with no disrespect to those with the old course.

Your a very snobby character!! All ICAI qualifcations are the same jsut because it has changed doesnt mean its better!

shelly2

ma.long25 wrote: »

Your a very snobby character!! All ICAI qualifcations are the same jsut because it has changed doesnt mean its better!

I knew someone would take me up wrong on that.

I did not mean that in any way bad at all. I just thought its a positive thing for James to focus on. I apologise if you take offence.

All qualifications are also the same even if someone had to repeat the exam to get it.

Hackysack

shelly2 wrote: »

I knew someone would take me up wrong on that.

I did not mean that in any way bad at all. I just thought its a positive thing for James to focus on. I apologise if you take offence.

All qualifications are also the same even if someone had to repeat the exam to get it.

I wouldn't worry about ma.long. He's only trying to rile up people.

SJOB

Hey James I just saw your post there that you failed FR. I failed in the summer (got 35%) but did fairly ok in the Autumn(58% but it was a real tough paper)

Anyway If you want my gods honest advice on how I passed it hear you go - this is no word of a lie by the way I was really terrified of this exam!

1.) I presume you have ascess to all the course material - log into your ICAI portal page and look for a fairly big question bank and a fairly big solution bank. Print both of these off.

2.) Get a large folder - divide all these questions up into there relvant sections eg IAS 2,11,27,28 ETC ETC and place all the questions with there solution in the same section - this will mean come exam day you should be able to find solutions fairly fast if a similiar question comes up in your exam.

3.) Practice Practice and Practice on that folder. I really cannot say this enough, try to be able to do these questions in your sleep. And do not ignore the sections which I use to refer to as the "crappy" little ones eg IAS2, practice questions from this section aswell as it can (and did) come up in my exam

4.) There is a lecturer from Cork I.T. who put a kind of summary word document of all the IAS/IFRS up on that student section of the website. Print this off - single sided if you want to be fussy and get it bound together (maybe someone in your firm can do it for you). Get a packet of dividers and use it to divide this up into sections as you did above.

5)When you have finished practising the above move onto sample papers/Autumn and Summer papers. If you practised the folder you made hard enough you will be pleasantly surprised at what you have learned from it.

6)Other sections of the course - e.g. Financial reporting enviornment - read first three chapters of Conolly book and make your own notes if necessary. I think also that assesing a companys performance is a seperate part of the course - for this basically you need a good understanding of Ratio's. I made notes for this section out of my SFMA book (and low and behold it came up as a question worth 18 marks)

7) When you go to do your exam - spend most of your time on question 1. Start by flicking through the accounts. Read the additional information section and in your answerbook jott down what you think is relevant to this additional information (you will be surprised but this actually gets you marks).

For example in the Autumn Exam the first part of the question related to that Joint Venture if you remember . . . my answer "well my roughwork" was something along the lines of:

.....Refer to IAS31....definition of a Joint Venture.......Journal entries required to account for a joint venture (no numbers yet just the actual journals eg Dr P&L Cr BS etc etc)

Now that part above got me a surprisingly good amount of marks and the beauty of it was I just coppied pretty much from that IAS summary thing prepared by the guy from Cork IT.

Apply this approach to all your sections then when you are finished "pull" it all together to try and do ur P&L and Balance Sheet. Remember at this stage you will have most of the marks actually putting in the statements is just for completeness and bonus marks which could make all the difference on the day. Whatever you do, do not panic or freak out and leave this part out.

8)Above all be confident, and try your best. If you fail - so what, who cares its not the worst thing thats ever going to happen to you in life and if you keep trying you will defo get them.

So to summarise:

- Questions
- Solutions
- Organisation
- IAS summary prepared by Cork IT lecurer.
-PRACTICE PRACTICE PRACTICE.

P.S. you should know what documents I am talking about if you dont reply to this thread and I will try get them too you!!!!

Best of luck man!

Dell2009

SJOB, Your exam technique sounds excellent, I think I may follow it. Can you post up any of the notes you may have to hand which you could easily upload.The IAS summaries, in particular, sound pretty handy.

Cheers

SJOB

Dell 2009,

Unfortunately the files are all zipped and way to big so Im afraid I cannot upload them. If however you have some email address that you dont mind posting on this I can email them all to you?