FAE September 2012

R0N BURGUNDY

Hard to believe that the AAFRP results still aren't out. Seems like a lifetime ago when we did that. Ah well - week to go isn't it? Hopefully it's not sh1t news before the mocks. Also - about the mocks = I may as well be going int blindfolded. Haven't had the time to cover anything yet.

Mavic09

Going through a question on close company surcharge, a bit out of practice, I came across one (Cap 2 Textbook- Maxi 7.3) where they calculate a surcharge on €180k of rental income despite the company having made a loan to their MD of 550k. I always thought a loan to a participator i.e. the MD would be a distribution for close company purposes. As in 180k - 550k = no surcharge. Can anyone set me straight on this?

bluebell27

supernova84 wrote: »

My thanks to that guy aswell. A lot of effort went into putting all that together. Thanks for posting. Much appreciated.

I'm trying to download these notes but can't get it to work. Have created an account on 4 sync but still won't work. Anyone know what I'm doing wrong?

Scuba_Steve84

bluebell27 wrote: »

I'm trying to download these notes but can't get it to work. Have created an account on 4 sync but still won't work. Anyone know what I'm doing wrong?

here are some of them, i'll upload the rest now

Scuba_Steve84

bluebell27 wrote: »

I'm trying to download these notes but can't get it to work. Have created an account on 4 sync but still won't work. Anyone know what I'm doing wrong?

there are some files that are too large to upload here but i'll see what i can do!

Scuba_Steve84

bluebell27 wrote: »

I'm trying to download these notes but can't get it to work. Have created an account on 4 sync but still won't work. Anyone know what I'm doing wrong?

that's my lot! the finance and hr files won't load up, but hope this helps you a bit buddy

bluebell27

Scuba_Steve84 wrote: »

that's my lot! the finance and hr files won't load up, but hope this helps you a bit buddy

Thanks so much! Really good of you

ferike1

I got so depressed. Was doing the pottery limited case in the MABF toolkit. The solution was 18 pages long. Not a chance I can replicate that standard.

chursy

ferike1 wrote: »

I got so depressed. Was doing the pottery limited case in the MABF toolkit. The solution was 18 pages long. Not a chance I can replicate that standard.

I dont think its expected to replicate that solution. The MABF solutions are way too detailed.

Also is it recommended to do all these cases in detail ? because i find them on a different tangest to what is required in terms of the casestudies!!! they are too detailed! too difficult! and can be a bit random at times!

froggatt2011

chursy wrote: »

I dont think its expected to replicate that solution. The MABF solutions are way too detailed.

Also is it recommended to do all these cases in detail ? because i find them on a different tangest to what is required in terms of the casestudies!!! they are too detailed! too difficult! and can be a bit random at times!

Heard from someone who passed FAE last year that their technique was to practice case studies and past papers/mock papers. They brought all their notes and books in to the exam (for emergency use only) and had summary sheets of all subjects as well as indexes in all their files.

Personally I'm not attempting any of the cases in the MABF book. They scare the life out me and really demotivate me. I find as I work through the cases that I'm getting a little better each time at producing what they are looking for.

I've heard some people rave about the Derry Cotter FR book but it scares me too. Is it worth having a bash at or is sticking at cases/papers the best method?

chursy

I completely agree with your approach - this is exactly what i have been told - However Derry Cotter Cases is a MUST if you want to do well in reporting. I know alot of people who failed just because of reporting - I think the remainder of the subjects can be covered well from the cases -

Another B***ch of a subject is Audit - I am doing elective as well - Insane amount of reading required and not knowing how much will be relevant - However one has to be familiar with the ISA's high level to be able to address the answers - Book i think isnt great and when you go through the lecture notes and Sean Murreys lecture! i havent come accross an instance when he has referred to the book!

This is something that will take alot of time i.e going through lectures and reading through the standards - Hence i am not surprised the pass rates are very low!! - For me the biggest challenge is going to master reporting and auditing! - The rest i think cases will give us a good grounding - Any thoughts welcome!

chursy

Do you have to go through all the material to jump on to cases????

So far i have a good understanding of Audit/Reporting/Ethics/CG - Havent touched management account and Finance yet or TAX? - Would you suggest jumping on to the cases?

froggatt2011

chursy wrote: »

Do you have to go through all the material to jump on to cases????

So far i have a good understanding of Audit/Reporting/Ethics/CG - Havent touched management account and Finance yet or TAX? - Would you suggest jumping on to the cases?

Thanks for your input. I will have a bash at the Cotter book as well then.

I was getting really bogged down in notes and going over lectures again so decided to test myself and get stuck into the cases. It's amazing how much is just common sense in these cases, and also reassuring for me that I actually do know quite a bit more than I thought I did. When I come across an area in a case that I haven't a notion about I make a note and go over the notes again. Doing cases is also a good way of testing how quickly you are able to look up info in the books/notes to access the stuff you need to be able to answer.

A worrying aspect is the level of detail required in your answer. It varies from one case to the next. I find myself writing pages only to find the solution is much less detailed, whereas the previous case required much detail. This should become easier to gauge the more cases you do (hopefully!!!!).

I am finding that my CAP2 audit notes are more helpful than Sean Murray's notes. I don't like his method and really don't feel I've learned anything new this year. No reflection on Sean at all - he knows his stuff and I hear other people speaking very highly of him, I just can't follow his lectures.
I'm doing APM elective and thankfully it incorporates a lot of Finance stuff, so a fair bit of overlap thank fook. I wouldn't wish advanced audit on anyone. Incidentally I don't think I've ever opened the audit textbook....

chursy

Would suggest you have a look at the competency statement for whats covered ! not fun i am afraid !! at a core level as well there is a lot covered. If you dont like this lectures would suggest just use his notes to follow what paragraphs need to be read that will be very helpful i would say

noveltea

I got so depressed. Was doing the pottery limited case in the MABF toolkit. The solution was 18 pages long. Not a chance I can replicate that standard.

I did not use the MABF toolkit last year. There is no way you will be asked a "question" so detailed.

I used the toolkit for SFMA from cap 2 instead. It was very good. It had more realistic short "questions" that would more than likely be asked.

Oh and don't just focus on the core. I spent far to much time on that and neglected the elective so hence have to repeat that. It is a killer having to wait a whole year to repeat that exam.

R0N BURGUNDY

When answering questions is it ever practical to quote theorys or anything like that? I mean - who ever does that in real life? But I remember hearing that you should consider doing it in some cases. I just can't see when you would do that when eg. a director has asked you to provide them with a report etc.

R0N BURGUNDY

Are there any solutions for the business and ethics text?

ferike1

noveltea wrote: »

I did not use the MABF toolkit last year. There is no way you will be asked a "question" so detailed.

I used the toolkit for SFMA from cap 2 instead. It was very good. It had more realistic short "questions" that would more than likely be asked.

Oh and don't just focus on the core. I spent far to much time on that and neglected the elective so hence have to repeat that. It is a killer having to wait a whole year to repeat that exam.

Thanks, that is somewhat of a relief:o

Will keep your advice in mind and look at that toolkit too.

chursy

R0N BURGUNDY wrote: »

Are there any solutions for the business and ethics text?

Yes i am look for these as well - Would be great if someone can please upload.
thanks

chursy

Sunnyli wrote: »

I checked marjo87's list with mine. Could anyone kindly upload the missing cases and solutions? Thanks million!!

Hi Sunnyli

I checked this PDF against my Index - There are a number of cases which are missing on this grid as in no solution or question for you and i have never come accross them anywhere - Where did you get these names from ?

These are below
- Auto parking
-Belfort Plc
- Claddagh
- Indigo
- Investoc
- LEgan
-Lee
- Lifey
- O Shea's Pub
- P &H Heating system
- Sutherland HOldings
-Techtek
- Versatile
( I have not come accross these cases)

You are missing
- Precision Cut
-Petrov
-Flexum
- Luxo Paints
- Tekton

Sunnyli

chursy wrote: »

Hi Sunnyli

I checked this PDF against my Index - There are a number of cases which are missing on this grid as in no solution or question for you and i have never come accross them anywhere - Where did you get these names from ?

These are below
- Auto parking
-Belfort Plc
- Claddagh
- Indigo
- Investoc
- LEgan
-Lee
- Lifey
- O Shea's Pub
- P &H Heating system
- Sutherland HOldings
-Techtek
- Versatile
( I have not come accross these cases)

You are missing
- Precision Cut
-Petrov
-Flexum
- Luxo Paints
- Tekton

I have updated my list there are some cases I haven't heard myself it was taken from other people's list I just check with mine. I am missing some soultions would you mind upload them?

elaine61527

chursy wrote: »

Hi Sunnyli

I checked this PDF against my Index - There are a number of cases which are missing on this grid as in no solution or question for you and i have never come accross them anywhere - Where did you get these names from ?

These are below
- Auto parking
-Belfort Plc
- Claddagh
- Indigo
- Investoc
- LEgan
-Lee
- Lifey
- O Shea's Pub
- P &H Heating system
- Sutherland HOldings
-Techtek
- Versatile
( I have not come accross these cases)

You are missing
- Precision Cut
-Petrov
-Flexum
- Luxo Paints
- Tekton

Hi Chursy,

A number of the above cases appear in the Sample Papers provided on the institute website (attached below for convenience), for example the simulation sample paper 2 has Belfort Plc, Investco & P & H Heating Systems, also i think 'Claddagh' & 'Lee' are just the group names used for a few cases for the purposes of the case study days held throughout the year, they are not individual cases.

Hope this helps a little, great thread!

elaine61527

Remaining Sample Paper files :

leds

elaine61527 wrote: »

Hi Chursy,

A number of the above cases appear in the Sample Papers provided on the institute website (attached below for convenience), for example the simulation sample paper 2 has Belfort Plc, Investco & P & H Heating Systems, also i think 'Claddagh' & 'Lee' are just the group names used for a few cases for the purposes of the case study days held throughout the year, they are not individual cases.

Hope this helps a little, great thread!

Was just wondering does anybody have a link to sample papers for FAE for the elective papers. Thanks.

Tipp2222

Emailed the institute for Solutions to the Business and Ethics text and these are not available. The text was designed to be discussion based and to encourage students to develop the ability to think through the scenarios presented. !! Although i did see 3 solutions posted on earlier pages..

Also solutions for tax challenging questions are under tax session 5-10.

Ciara471

Hey,

I've attached the list of all the cases and solutions that I have. The ones highlighted are what I'm missing. If anyone has these would you be able to upload them please? Also, if anyone needs any of the questions or solutions that I have just let me know and I'll upload them. Cheers

figrolls

leds wrote: »

Was just wondering does anybody have a link to sample papers for FAE for the elective papers. Thanks.

http://students.charteredaccountants.ie/Student-Information/Courses/New-Syllabus/Sample-Papers--Solutions/FAE-Sample-Papers-and-Solutions/FAE-Elective-Sample-Papers/

leds

figrolls wrote: »

http://students.charteredaccountants.ie/Student-Information/Courses/New-Syllabus/Sample-Papers--Solutions/FAE-Sample-Papers-and-Solutions/FAE-Elective-Sample-Papers/

Cheers figrolls

froggatt2011

leds wrote: »

Cheers figrolls

Yes cheers! I didn't even know there were sample papers available. I am totally incompetent at finding my way around the institute's website.

chursy

froggatt2011 wrote: »

Yes cheers! I didn't even know there were sample papers available. I am totally incompetent at finding my way around the institute's website.

I dont think you are incompetent The institute and their website is S**t!!!