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FAE September 2014

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    #302
    Schickadee
    Registered Users Posts: 17 ✭Schickadee


    Great thanks I kept looking n finally figured it out! Jus wasn't sure wen not shown in solution! Dreading sat!


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    #303
    Schickadee
    Registered Users Posts: 17 ✭Schickadee


    Next qu 3.13 slow progress why is the hair school not recognised as intangible?


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    #304
    FlyingSolo13
    Registered Users Posts: 31 ✭FlyingSolo13


    Schickadee wrote: »
    Next qu 3.13 slow progress why is the hair school not recognised as intangible?

    The brand is internally generated and does not meet criteria to recognise same.


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    #305
    TheDoctor
    Registered Users Posts: 4,977 ✭✭✭TheDoctor


    You cannot under IAS recognize an internally generated intangible


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    #306
    TheDoctor
    Registered Users Posts: 4,977 ✭✭✭TheDoctor


    You often see newspaper companies list two sets of FS in their annual statements, a second non IAS one showing the value of their newspaper titles


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    #307
    Mark1916
    Registered Users Posts: 523 ✭✭✭Mark1916


    Guys,

    I assume the AAFRP is in the RDS on Saturday from 10.00am to 11.50am?? I havent received any notification from the CAI (i'm a repeat student).


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    #308
    Accountant81
    Registered Users Posts: 165 ✭✭Accountant81


    Mark1916 wrote: »
    Guys,

    I assume the AAFRP is in the RDS on Saturday from 10.00am to 11.50am?? I havent received any notification from the CAI (i'm a repeat student).

    Yes that's right. Hall 8C, entrance via Simmonscourt Road. Would have thought you'd have received an email from them? Or check the messages in your student portal.


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    #309
    Aidodub87
    Registered Users Posts: 160 ✭✭Aidodub87


    When do the results for the AAFRP come out?


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    #310
    RichFTW
    Registered Users Posts: 552 ✭✭✭RichFTW


    Accountant81 wrote: »
    Yes that's right. Hall 8C, entrance via Simmonscourt Road. Would have thought you'd have received an email from them? Or check the messages in your student portal.

    I got an email confirming the place of the exam at the end of March. It didn't have an exam number though like the CAP2s which you had to print it off and bring with you. Was there a second email sent with exam numbers or do we just use our student numbers?


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    #311
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    No we use our student numbers


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    #312
    TheDoctor
    Registered Users Posts: 4,977 ✭✭✭TheDoctor


    Results out June 27th


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    #313
    20 Times 20 Times
    Registered Users Posts: 6,220 ✭✭✭20 Times 20 Times


    Anyone got a good template for EPS ??


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    #314
    DaUmpire
    Registered Users Posts: 21 ✭DaUmpire


    Hi guys
    Looking help with q3.2 in April 2012 paper. Per the solution it says the £8645 early incentive payment cannot be taken into account as it's not virtually certain and therefore per ias37 it is inappropriate to recognise a contingent gain unless it's virtually certain, however per ias11 incentive payments can be recognised when it's PROBABLE that they will b received therefore in this case it is ok to recognise. Have I missed the point here? Thanks


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    #315
    blizzard13
    Registered Users Posts: 69 ✭✭blizzard13


    DaUmpire wrote: »
    Hi guys
    Looking help with q3.2 in April 2012 paper. Per the solution it says the £8645 early incentive payment cannot be taken into account as it's not virtually certain and therefore per ias37 it is inappropriate to recognise a contingent gain unless it's virtually certain, however per ias11 incentive payments can be recognised when it's PROBABLE that they will b received therefore in this case it is ok to recognise. Have I missed the point here? Thanks

    The only thing i could suggest is that in IAS11, it states that the contract needs to be sufficiently advanced in order to recognise the incentive. is 70% significantly advanced? id say more like 95% would be required?


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    #316
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    Little Pea wrote: »
    Anyone got a good template for EPS ??

    Wondering the same that defered tax and combinations have me lost!


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    #317
    20 Times 20 Times
    Registered Users Posts: 6,220 ✭✭✭20 Times 20 Times


    blizzard13 wrote: »
    The only thing i could suggest is that in IAS11, it states that the contract needs to be sufficiently advanced in order to recognise the incentive. is 70% significantly advanced? id say more like 95% would be required?

    Key here is VIRTUALLY certain !


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    #318
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    What are yis bringing into the exam on sat? I never got through cotters book :/


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    #319
    elizmac28
    Registered Users Posts: 11 ✭elizmac28


    Hi Guys

    Did anyone do the sample papers? I read somewhere on here that they not in line with standard of paper.

    But going through the toolkit I see some on the questions are in this.... therefore the standard required

    I did it last night and got every single question incorrect

    I would tell everyone not to do it, but if they in toolkit - maybe its just me

    Best of luck


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    #320
    Debs23
    Registered Users Posts: 155 ✭✭Debs23


    elizmac28 wrote: »
    Hi Guys

    Did anyone do the sample papers? I read somewhere on here that they not in line with standard of paper.

    But going through the toolkit I see some on the questions are in this.... therefore the standard required

    I did it last night and got every single question incorrect

    I would tell everyone not to do it, but if they in toolkit - maybe its just me

    Best of luck

    When u say they are not in line with the standard of the paper do u mean they are more difficult or easier?


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    #321
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    Where did u get the sample papers?


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    #322
    elizmac28
    Registered Users Posts: 11 ✭elizmac28


    autumnbelle wrote: »
    Where did u get the sample papers?

    I read on hear that either at grinds or class that they were told not to concentrate on the sample papers as they were not in line with the standard of exam(wishy washy questions) and to concentrate on toolkit questions - which where more in line

    But now I see that some of the sample paper questions have been added to this years toolkit - from last year!!!

    I found it nightmare


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    #323
    acastudent
    Registered Users Posts: 140 ✭✭acastudent


    Accountant81 wrote: »
    There are two sittings. The majority of people sit the April sitting but if for some reason you can't sit it there is another option in June. I was actually just on the institute inquiring about it because my son has been sick all week and the creche won't take him because of it. If I don't get to study over the next 3 days I may have to defer to June which I really don't to do!

    Hope your son is ok accountant81


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    #324
    Accountant81
    Registered Users Posts: 165 ✭✭Accountant81


    acastudent wrote: »
    Hope your son is ok accountant81

    Thanks acastudent, that's very nice of you! He's grand now. Back in creche and all systems go!

    BTW guys, I noticed in the board report for last year they mentioned that construction contracts were poorly dealt with. Given their tendency to re-examine topics that have proved difficult in previous sittings, it might be worth taking a second look at construction contracts, just in case! It probably wont come up now but I just said I'd give it a good look anyway.


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    #325
    Accountant81
    Registered Users Posts: 165 ✭✭Accountant81


    autumnbelle wrote: »
    Where did u get the sample papers?

    Sample papers are posted in here, a few pages back. Page 18!


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    #326
    CW1989
    Registered Users Posts: 37 ✭CW1989


    Hi guys,

    June 2013 exam paper question 2.2, where did they get 19K for income statement charge/(release)? No calculation in the solutions!

    Thanks :)


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    #327
    Graham...
    Registered Users Posts: 6 ✭Graham...


    Hi, I have done a contents sheet for the Toolkit book but never post on here so cant attach it. Could someone PM me their email address and I will forward it to them to post it up here.


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    #328
    thumbelinda
    Registered Users Posts: 57 ✭✭thumbelinda


    elizmac28 wrote: »
    I read on hear that either at grinds or class that they were told not to concentrate on the sample papers as they were not in line with the standard of exam(wishy washy questions) and to concentrate on toolkit questions - which where more in line

    But now I see that some of the sample paper questions have been added to this years toolkit - from last year!!!

    I found it nightmare

    I was the same Elizmac28. I tried the two sample papers and I got most of them incorrect which really panicked me last Tuesday. I was very disheartened but then last night I attempted the 2013 paper and did absolutely fine on it. From my scoring I got in around 70-75% correct and Mike Farrell said we have to at least get 50% to get a Competent so that was reassuring. I would ignore the sample papers as they knocked my confidence and practice the work book and the actual papers from the last 2 years.


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    #329
    Accountant81
    Registered Users Posts: 165 ✭✭Accountant81


    thumbelinda wrote: »
    I was the same Elizmac28. I tried the two sample papers and I got most of them incorrect which really panicked me last Tuesday. I was very disheartened but then last night I attempted the 2013 paper and did absolutely fine on it. From my scoring I got in around 70-75% correct and Mike Farrell said we have to at least get 50% to get a Competent so that was reassuring. I would ignore the sample papers as they knocked my confidence and practice the work book and the actual papers from the last 2 years.

    50% will get us a competent? That's great news! I thought we would need more than that.


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    #330
    elizmac28
    Registered Users Posts: 11 ✭elizmac28


    Accountant81 wrote: »
    50% will get us a competent? That's great news! I thought we would need more than that.

    I did 2012 paper on Monday and did well in it confidence was up until I did sample paper last night.....

    I did the 2013 paper this morning and did a lot better in it - they very tricky

    Im in work now so its a matter of tidying my file and hoping for best tomor

    Best of luck all............k


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    #331
    thumbelinda
    Registered Users Posts: 57 ✭✭thumbelinda


    Accountant81 wrote: »
    50% will get us a competent? That's great news! I thought we would need more than that.

    Mike Farrell told us that so I am assuming it is correct. He said that it makes sense if we are passing exams in Cap 1 and Cap 2 with results of 50% that that is all they can expect at FAE to be deemed Competent so he said you are more than likely looking at trying to get 3/5 in Section 1, and 2/3 in Sections 2 and 3 (but if you get half marks in one of the questions in section 2 or 3 - you should still get competent so that reassured me!


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