FAE September 2012

Cliona2012

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

supernova84

Cliona2012 wrote: »

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

As a serial repeater I'm probably not the best for giving advise but for the Comp it's very important to read the case a few times so you fully understand what's going on and note the potential indicators as you go along. Then I would list out the indicators in workings and plan from there which order to go from. It depends really on the day. The Sims are a b1tch for time that's all I can say for sure.

Cliona2012

Thanks, yeah Im sure everyone feels the same with this exam being so different to everything we ever did before.
Obviously I'd want to make a plan before I start writing but I just don't know where to even start with so many indicators and various sections influencing other areas and so on and so forth.

Therefore, it would be really great to hear how other folks approach case study questions, or if the ICAI have any guidance on this (video lectures etc.)

R0N BURGUNDY

I think I am going to practice doing these for the next week and try to come up with an idiot proof method that is fast and efficient.

Paul Monaghan's wee tip = write "13/21" beside indicators that require a decision/conclusion. (because 13 out of 21 indicator requried one in previous exam)

Maybe have a traffic light system (lol) for highlighting:
red: company information/scenario/personal info
yellow:important point
green: indicator

I don't see how you could have time to read and re-read and write out great notes before even attempting some questions. I suppose it depends how quick you are at writing and thinking on your feet. But I reckon a well planned answer with good links to other indicators must come across a lot more professional to whoever is marking the paper.

EveT

we were told in class last night to look at 3 old FAE report exam questions,

Kater, wondermachines and sheridan,

I can only find Kater (2004), does anyone know what year the others are from?

mrduffy

R0N BURGUNDY wrote: »

I think I am going to practice doing these for the next week and try to come up with an idiot proof method that is fast and efficient.

Paul Monaghan's wee tip = write "13/21" beside indicators that require a decision/conclusion. (because 13 out of 21 indicator requried one in previous exam)

Maybe have a traffic light system (lol) for highlighting:
red: company information/scenario/personal info
yellow:important point
green: indicator

I don't see how you could have time to read and re-read and write out great notes before even attempting some questions. I suppose it depends how quick you are at writing and thinking on your feet. But I reckon a well planned answer with good links to other indicators must come across a lot more professional to whoever is marking the paper.

13/21 is that over two days or just comprehensive paper ?

Apollo_Creed

Hi Guys,

Just wondering if anyone know what the story with the EIIS Scheme in relation to Tax Planning this year.
The institute have included a document on it on their website so I assume its on the course, does that mean that the BES relief is gone.

Thanks in advance.

ur2008

Cliona2012 wrote: »

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

Cliona2012 wrote: »

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

Hi there,

I passed the FAE exams last year. I wouldn't say that I'm competent but god knows how I managed to pass them.

But anyway just few things on above that I believe maybe helpful when doing the case studies:

1. prepare a checklist, ie list all the subjects: Audit & Assurance
Business Leadership

Corporate and Individual Tax Planning

Finance

Information Management Principles

Performance Measurement


While you go along with the case studies, what ever indicators or potential points that comes up, write a key word beside the relevant subject above, just a word or two to remind yourself.

Read the case again if possible as there are too much information to take in.

once you have all points ready, start with the most important ones and put them into required formate and provide appropriate conclusion or recommendation, also don't forget to link all relevant information from difference indicators together ( like IT weakness - > do we need to adopt new system? -> cost ?-> impact on financial reporting as the infor from the system may not be accurate or complete? - > if financial reporting is wrong, it will affect the audit work and may also have tax impact ect etc

once put above infor together, you should have enough depth to pass the exams just like I did

Use bulletpoint, no need long paragraphs.

Once all the points noted are mentioned in your answer, it will be counted, so don't worry too much which indictor to include what etc etc.

also correct calculation isn't everything, if you can get it right happy days, if you can't dont worry too much, draw a conclusion base on your calculation, it will still be credited.

Thus, conclusion/ recommendation is key.

so hope above points may provide some help to you

good luck with the exams

siobhan4460

Apollo_Creed wrote: »

Hi Guys,

Just wondering if anyone know what the story with the EIIS Scheme in relation to Tax Planning this year.
The institute have included a document on it on their website so I assume its on the course, does that mean that the BES relief is gone.

Thanks in advance.

where is this document i cant see it? also is anyone else not on study leave yet?

Cliona2012

Thanks Ron and Cliona, some good advice right there.
Technique is obviously so important in these exams we should all really focus on it.

MPBC123

ur2008 wrote: »

Cliona2012 wrote: »

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

Cliona2012 wrote: »

Hi guys,
Im new here and just want to ask a question.
What is your approach to the case study?
Say when I read the FAE core comprehenseive paper, I have so much information and indicators running around in my head and I know that I have to come up with some kind of plan but I just dont know what technique to apply in order to get my answer from identifying the indicators to answer.

Also, could anyone reconmmend any of the on-demand lectures that would deal with this best, I'm terrified!!!!!!

Hi there,

I passed the FAE exams last year. I wouldn't say that I'm competent but god knows how I managed to pass them.

But anyway just few things on above that I believe maybe helpful when doing the case studies:

1. prepare a checklist, ie list all the subjects: Audit & Assurance
Business Leadership

Corporate and Individual Tax Planning

Finance

Information Management Principles

Performance Measurement


While you go along with the case studies, what ever indicators or potential points that comes up, write a key word beside the relevant subject above, just a word or two to remind yourself.

Read the case again if possible as there are too much information to take in.

once you have all points ready, start with the most important ones and put them into required formate and provide appropriate conclusion or recommendation, also don't forget to link all relevant information from difference indicators together ( like IT weakness - > do we need to adopt new system? -> cost ?-> impact on financial reporting as the infor from the system may not be accurate or complete? - > if financial reporting is wrong, it will affect the audit work and may also have tax impact ect etc

once put above infor together, you should have enough depth to pass the exams just like I did

Use bulletpoint, no need long paragraphs.

Once all the points noted are mentioned in your answer, it will be counted, so don't worry too much which indictor to include what etc etc.

also correct calculation isn't everything, if you can get it right happy days, if you can't dont worry too much, draw a conclusion base on your calculation, it will still be credited.

Thus, conclusion/ recommendation is key.

so hope above points may provide some help to you

good luck with the exams

Thanks for this, great 2 get as much advice as poss esp from those who have passed these exams

MPBC123

siobhan4460 wrote: »

Apollo_Creed wrote: »

Hi Guys,

Just wondering if anyone know what the story with the EIIS Scheme in relation to Tax Planning this year.
The institute have included a document on it on their website so I assume its on the course, does that mean that the BES relief is gone.

Thanks in advance.

where is this document i cant see it? also is anyone else not on study leave yet?

Haven't seen this document either. I don't finish work until 20th July!

froggatt2011

siobhan4460 wrote: »

also is anyone else not on study leave yet?

What is this "study leave" you speak of? (Elevation student you see )

I'm getting a week in July, a week in August with a few days here and there. ...Does my face look worried?? :eek:

froggatt2011

Just wondering if there are any fellow Northern Irish students here. Don't be shy. I'm bricking it about tax now (I change my mind daily about which subjects scare me most!). Tax worries me. Big style. I constantly fail to pick up on the indicators in the cases and on the rare occasion I notice one I can't get my head round it. Eeeek!!!!
Not that I'm panicking or anything...

Username2011

froggatt2011 wrote: »

Just wondering if there are any fellow Northern Irish students here. Don't be shy. I'm bricking it about tax now (I change my mind daily about which subjects scare me most!). Tax worries me. Big style. I constantly fail to pick up on the indicators in the cases and on the rare occasion I notice one I can't get my head round it. Eeeek!!!!
Not that I'm panicking or anything...

Out of interest have u studied tax? Or DiD you start with cases?

R0N BURGUNDY

Yeah - NI tax was freaking me out a bit also so it's all I have really studied. Went through the text book highlighting to try and get a bit up to date. It's fairly time consuming so that's why I'm doing that now and then I'll do a refresher tax study period closer to September. I'm not off until end of July and find it pointless trying to study after working all day so just going to have a bit of study on Sunday before the mocks. What else can you do like.

chursy

Guys,

What are peoples views on the FAE notes which was uploaded here sometime ago - Are these reliable - I am certainly finding them very useful to refer to perhaps when addressing questions etc - Definitely best to be used as a starting point rather then opening books and then perhaps work on the depth as you go along the case studies or referring to text books notes etc.

Keen to know what other people think.

siobhan4460

MPBC123 wrote: »

Haven't seen this document either. I don't finish work until 20th July!

thanks MPBC, i am exactly the same finish work 20 july

figrolls

Is anybody else struggling to get into a good stuying routine?

Im seriously lacking motivation and concentration and dont know how to go about getting it together!

I never had this problem with any of my other exams before, maybe its because these ones are quite vague and theres so much to cover i dont really know where to start....

Any help or advice anybody could give would be hugely appreciated!

funkymonkey9

figrolls wrote: »

Is anybody else struggling to get into a good stuying routine?

Im seriously lacking motivation and concentration and dont know how to go about getting it together!

I never had this problem with any of my other exams before, maybe its because these ones are quite vague and theres so much to cover i dont really know where to start....

Any help or advice anybody could give would be hugely appreciated!

You are not alone! I find that I am jumping from one subject to another and I don't actually get anything done! This morning I decided to do a case to see if that would be a better approach. I identified the indicators but I did not have a clue what to write or where I could look to help me answer them!

So I ended up just reading the solution and it actually terrified me! So my motivation has now gone to 0 for the day!!

I feel like I am wasting time doing what I'm doing and finding it so difficult to decide how to approach it!

perfect_circle

just wondering if anyone knows when the continuous assessment results are out? i thought it was today? thanks

Username2011

perfect_circle wrote: »

just
wondering if anyone knows when the continuous assessment results are out? i thought it was today? thanks

It's this Friday

R0N BURGUNDY

What would you do if you you got nominal competence? No real point sitting the rest of the exam is there. lol. reaching competence would be ok though.

kitten_k

R0N BURGUNDY wrote: »

What would you do if you you got nominal competence? No real point sitting the rest of the exam is there. lol. reaching competence would be ok though.

You can still pass even if you get NC. I got NC last year and I still passed the Core.

If anybody gets NC on Friday don't let it get you down, it is just ONE indicator, you can make up for it in the exam. You cannot fail the Core based on the assesstment alone.

R0N BURGUNDY

Fair enough - evidence u can still pass then. I thought it was just some rubbish the institute told people not to worry if u don't get C or HC.

chursy

Think most people will get Rc's i would say.

Jame Gumb

chursy wrote: »

Think most people will get Rc's i would say.

Agreed. Anyone I spoke with had a shocker in the AAFRP.

Cliona2012

R0N BURGUNDY wrote: »

find it pointless trying to study after working all day so just going to have a bit of study on Sunday before the mocks. What else can you do like.

+1

Ronnoco23

Hi Guys,

I'm repeating the core this year and have no access to the Institute website. From browsing this thread there seems to be quite a few new cases I had not come accross, If anyone has come accross the solutions for any of the following could they please put them up?

1. Campus Polymers
2. City Centre
3. David Dogood
4. Enver Plastics
5. Firesec
6. Flexum
7. Gems
8. Italian Food Partnership
9. Lowland bank
10. Motorvation
11. Natureflame
12. Newline
13. O'Reilly Mortgages
14. Overcoatings
15. Ply 4 Hire
16. Precision Cut
17. Quancore
18. Runways
19. Southern Fisheries
20. Talon Talents
21. Techtek
22. Uniform R Us

Ok... that's a long list! If anyone can help me I'd really appreciate it - Tis really annoying that the Institute don't give repeaters access to the material!

kitten_k

Hi i have had quick look at the ones saved to my work laptop. I have attached the ones in bold. (Will take a couple of posts)

Ronnoco23 wrote: »

Hi Guys,

I'm repeating the core this year and have no access to the Institute website. From browsing this thread there seems to be quite a few new cases I had not come accross, If anyone has come accross the solutions for any of the following could they please put them up?

1. Campus Polymers
2. City Centre
3. David Dogood
4. Enver Plastics
5. Firesec
6. Flexum
7. Gems
8. Italian Food Partnership
9. Lowland bank
10. Motorvation
11. Natureflame
12. Newline
13. O'Reilly Mortgages
14. Overcoatings
15. Ply 4 Hire
16. Precision Cut
17. Quancore
18. Runways
19. Southern Fisheries
20. Talon Talents
21. Techtek
22. Uniform R Us

Ok... that's a long list! If anyone can help me I'd really appreciate it - Tis really annoying that the Institute don't give repeaters access to the material!