FAE Electives

EveT

hi,

we got enrolment forms for FAE and they have to be in by 1 Sep, just wondering what people have thought of the various electives?

Recommendations, problems, advice etc.

Im pretty sure I wont do audit but dont know what to put down between the other two.

Thanks!

Clanno

EveT wrote: »

hi,

we got enrolment forms for FAE and they have to be in by 1 Sep, just wondering what people have thought of the various electives?

Recommendations, problems, advice etc.

Im pretty sure I wont do audit but dont know what to put down between the other two.

Thanks!

do the tax one!!

R0N BURGUNDY

tax one the best then aye?

CPJM

It's not that simple. Each of the electives have their own demands. I did APM and I found the content interesting, but there is a fair amount of material to be covered. Also, I found the exam papers are really long, there is a serious amount of writing required!

It's all about the area where you have the greatest interest or possibly the area where you have the least hatred towards.

You don't have to be an expert in finance to do APM, but you have to have a reasonable interest in finance. Also, I think it is a subject for people that take a strong interest in current affairs and business issues in the economy. In addition there is a strong international aspect to this elective. For example in core you might have a case examining acquisition considerations. In APM the target company will be based in Brazil or China (examples) and you will have to address the additional considerations of expansion, that kind of thing. Also there is fairly large focus on international marketing.

R0N BURGUNDY

thanks for the advice. you have put me off APM i have to say lol

i will need to have a good think about it. hard decision. id like to do whatever is easiest *mine field*

larry2009

The pass rate for APM was 95% with the other two 71% which is very high. What is everyone picking? It is a tough decision

CPJM

I think that 95% is only going in one direction.

The small number taking APM is also of influence

R0N BURGUNDY

frig - 95%; u gotta fancy your chances there!!

RT2010

Does APM contain a lot of work in areas like hedging/swaps/put options and the like?

That wouldnt really appeal!!

CPJM

RT2010 wrote: »

Does APM contain a lot of work in areas like hedging/swaps/put options and the like?

That wouldnt really appeal!!

Not much more than CAP 2 SFMA, if anything you just have to be able to discuss a bit more and be in a position to recommend.

EveT

its hedging etc putting me off APM and pushing me towards tax, Im not v fond of hedging! 6 marks on cap 2 paper, suited me down to the ground!

mano79

EveT wrote: »

its hedging etc putting me off APM and pushing me towards tax, Im not v fond of hedging! 6 marks on cap 2 paper, suited me down to the ground!

Same here Eve. Id rather avoid as much of the finance/hedging etc as possible. I must say the 95% pass rate is very tempting though.

Would probably have most interest in tax. Does anyone know if you need to do the tax elective in FAE to get into the Chartered Tax exams later (long way off I know but only thinking ahead).

Are there any pitfalls to watch out for eg should you really do the auditing elective if you are working or plan to work in an auditing practice?? Dont want to find out in 2/3 years time I choose the wrong subject.

Any advice from previous students pleases...

Fiona44

You wont get an auditing cert if you don't do the auditing elective...only matters if you decide to stay in auditing though.

R0N BURGUNDY

are there many calculations for tax? or is it more like spotting where exemptions are possible for certain situations? iv had enough calculations to last me a lifetime lol. someone i know mentioned applying group relief

CPJM

Fiona44 wrote: »

You wont get an auditing cert if you don't do the auditing elective...only matters if you decide to stay in auditing though.

That's not strictly correct. As I understand it you can still get your audit cert, but it will take longer and you'll have to compensate with a lot of CPD.

CPJM

mano79 wrote: »

Would probably have most interest in tax. Does anyone know if you need to do the tax elective in FAE to get into the Chartered Tax exams later (long way off I know but only thinking ahead).

You do not necessarily have to have the elective but it helps, passing the elective means you get an exemption from certain chartered tax exams

EveT

Im confused about electives, is there any point in me doing audit?

I work in industry, wont have audit days, people are telling me I should do it though cause otherwise cant sign off on accounts? but if I dont have audit days I wont get cert anyway so theres no point right??

KingEnda

EveT wrote: »

Im confused about electives, is there any point in me doing audit?

I work in industry, wont have audit days, people are telling me I should do it though cause otherwise cant sign off on accounts? but if I dont have audit days I wont get cert anyway so theres no point right??

Hey EveT, to sign off audit reports (not accounts) you must be a Registered Auditor and for that you need the audit elective and a number of years experience.
You only have to do the Audit Elective if you see yourself in practice in a few years as a partner and will want to sign off audit reports.
If you dont do the Audit elective now and that turns out to be a problem in the future you can do the Elective at that stage to get the Practicing Cert

LightningBolt

EveT wrote: »

Im confused about electives, is there any point in me doing audit?

I work in industry, wont have audit days, people are telling me I should do it though cause otherwise cant sign off on accounts? but if I dont have audit days I wont get cert anyway so theres no point right??

I'd say avoid if you can and do APM or Tax. Both are far more interesting. Seriously regret not doing APM now.

Clanno

EveT wrote: »

Im confused about electives, is there any point in me doing audit?

I work in industry, wont have audit days, people are telling me I should do it though cause otherwise cant sign off on accounts? but if I dont have audit days I wont get cert anyway so theres no point right??

eve drop me a pm

Maps2011

So which one is everyone going for?

EveT

Tax for me!

mano79

Maps2011 wrote: »

So which one is everyone going for?

Ya going to do tax as well. Its the area im likely to be working in more than auditing so fingers cross it will be the right choice.

Just have the get the form to them now and fork out for the fees:mad: