2013 CAP2 Discussion Group

Cassi Education

Hi All,

Hope this is of some use while preparing for the assessment and exams.

Best of luck to all.

CASSI Education

y0ssar1an22

hello everyone. I am in CAP 2 so will be contributing to this thread. Hopefully there will be a few more out there so we can brainstorm and help each other. Anyways, best of luck

jus_tin4

As am I! Doing tax and audit

sarahmcm90

im doing all 4 in cap 2. This will b great for the sfma assessment

Dol_tot

I am doing all four aswell!

Kevint30

Me too. Doing module 2 Best of luck everyone.

TAA_ICAI

Hey anyone thinking of organising a study group for SFMA?

hdawg

I'm also doing 4. This is a great idea!

Rafa from Mayo

Hi, anyone near Castlebar Co Mayo who wants to meet for CAP 2 SFMA o Reporting Finance?

EdelGilligan

Hi all! I am doing all 4 also!! This will be great help!!

Mypillowface

I am doing all four subjects as well!!

sarahmcm90

IM an hr from castlebar. Were everyone doin there lectures

Deminchen

Any one is near Co Louth or Co Laois area wants to meet for SFMA and Financial Reporting assesment?

EdelGilligan

Im lovely Laois:) where you?

sarahmcm90

Anyone near Sligo

Char86

Hi,

I'm doing all 4 Cap2s also! This is great to be able to discuss the case study for SFMA which we will get soon !!

Should Have Done Arts

The dates for the online lectures have been released. Most lectures held prior to the assessment will not be put online until after the assessment.

With all their efforts in recent months to increase pass rates they go and do this.

People that are doing distance learning or people that missed lectures due to the income tax deadline have a slim to none chance of getting a good mark in the assessments.

sarahmcm90

Were hve u heard this information from. So the lectures dates given r wrong r they..

Should Have Done Arts

sarahmcm90 wrote: »

Were hve u heard this information from. So the lectures dates given r wrong r they..

You should have gotten a mail in your student center title "release dates for CAP2 recorded lectures"

I am not addressing the lecture time table just the release of them online.

When you examine release dates of sessions held prior to 31-January you will see some are not released online until March/April.

y0ssar1an22

Should Have Done Arts wrote: »

You should have gotten a mail in your student center title "release dates for CAP2 recorded lectures"

I am not addressing the lecture time table just the release of them online.

When you examine release dates of sessions held prior to 31-January you will see some are not released online until March/April.

I actually emailed them about this previously. Here is the reply...

'A lot of the time we will release the recorded sessions earlier than advertised. The dates on the schedule is the latest date it will be made available to you'.

So hopefully the relevant lectures will be available when they should be.

sarahmcm90

I no wat ya mean.. Some the financial ones re up online before r c.a

Should Have Done Arts

y0ssar1an22 wrote: »

I actually emailed them about this previously. Here is the reply...

'A lot of the time we will release the recorded sessions earlier than advertised. The dates on the schedule is the latest date it will be made available to you'.

So hopefully the relevant lectures will be available when they should be.

Like thats not good enough considering its our careers on the line. In this day and age there's no excuse for a delay. I can upload a session from my phone a few minutes after the session ends.

We should be able to view the 2012 lectures that would keep everyone happy.

Cassi Education

Hi all

Just to clarify regarding the online lectures. These recorded sessions are designed to help with study, not to replace attendance at lectures. Unfortunately, recording facilities are not available in all venues and it is this that leads to an apparent delay. In reality, the lectures are made available as soon as possible, taking into account when the lecture takes place and any editing that may be required.

In particular in relation to the Financial Reporting assessment, all students will have received the relevant lectures in person, excluding those that are online only, in advance of the assessment. In addition, all of these lectures are being made available before the assessment to aid students revision.

As regards the suggestion that the 2012 lectures be used, this is not possible due to changes to standards and the competency statement year on year.

If students have any further concerns, please feel free to drop us an email!

CASSI Education

jus_tin4

Whats everyone studying for tax and audit? has many started in a heavy study routine yet?

Santi101

Havent touched tax or audit yet....wont until the new year after the assessments i'd say. Just printed all notes, exam papers for them at this stage. Will start into some FR this week.

On the Financial Reporting Assessment in Jan, is the list in the competency statement a good and complete guide for topics which are examinable? I know the examiner changed last year, but dont want to get caught short. Similar standard to last yr's paper i'm guessing?

Prettyblack

Santi101 wrote: »

On the Financial Reporting Assessment in Jan, is the list in the competency statement a good and complete guide for topics which are examinable? I know the examiner changed last year, but dont want to get caught short. Similar standard to last yr's paper i'm guessing?

Yeah it is a good guide for the topics, and the SFMA is in there as well AFAIK.

Should Have Done Arts

What date is the SFMA assessment paper being released?

Dol_tot

I think in and around the 18th December. It says it is due to be released a month before the assessment.

sarahmcm90

I heard Monday its out :)ne one in Dublin 2 group

mmcshane

Prettyblack wrote: »

Yeah it is a good guide for the topics, and the SFMA is in there as well AFAIK.

What session is the financial reporting assessment based on? The comp statement didn't specify much unless I just completely missed it

sarahmcm90

From the first session thought was session one to 8.. But don't think everythin on consolidation is comin up.. But nt sure ��

Kevint30

mmcshane wrote: »

What session is the financial reporting assessment based on? The comp statement didn't specify much unless I just completely missed it

Have a look at page 31 on the competency statement (link below). It clarifies what standards are examinable at the FR assessment. As far as I know only sessions 1 to 6 are examinable.

Regarding consolidation, have a look at the cap 1 competency statement and you will see what is examinable. As far as I know only consolidations in session 6 are on the assessment.

http://students.charteredaccountants.ie/Global/syllabus/CAP2/CAP2%20Competency%20Statement%202013%202014%20FINAL.pdf

Kevint30

case study is up

sarahmcm90

How do u gt it

Kevint30

sarahmcm90 wrote: »

How do u gt it

Under messages and notices. The link is at the bottom of the page

Hopefully this link works

http://students.charteredaccountants.ie/Global/examdocs/SFMA%20Preseen%20Case%20Study%20January%202014.pdf

sarahmcm90

Thanks.. Is ne one round the Longford area r near Longford Sligo or that

Kevint30

Anyone had a look at it yet? I think variances is a definite

y0ssar1an22

I just had a brief look and have jotted down variances as well. I will look in more detail tonight and share my thoughts.

anthonygoodman

by the looks of the sfma assessment variances looks likely, any other topics

Noonster

Presumably CVP analysis as well. Will have a longer look tomorrow myself as well and see what else jumps out

cluray

Investment Appraisal of the 200k in Cocktail Bar, NPV.
This could also bring in:
Sensitivity analysis
Source of Finance/Financing decision for the 200k

y0ssar1an22

Possible things to come up:

MOR has advised there should be 3 investment centers. So possibly work to do on each of these.

1. Investment appraisal for the bar. 200k to invest. Do I understand correctly that expected NPV should be 100k? You can get a start on the revenue side of this with expenditure to be given out on day of exam. Also keep in mind the tax treatment of some items.

2. variance analysis on the restaurant. There will be material and labor variances. They are using marginal costing so only 1 fixed OH variance (F. OH expenditure). There will prob be sales and Variable OH variances as well.

3. accommodation: breakeven analysis, margin of safety, sales to attain target profit. Possibly

4. ROCE is mentioned so possibly calculate this

I dont really know what else. There will be a theory element somewhere. Some of the assumptions I made above may be based on a lack of knowledge.

sarahmcm90

That's a great help.. So true. Those areas are a likely chance

Kevint30

y0ssar1an22 wrote: »

Possible things to come up:

1. Investment appraisal for the bar. 200k to invest. Do I understand correctly that expected NPV should be 100k? You can get a start on the revenue side of this with expenditure to be given out on day of exam. Also keep in mind the tax treatment of some items.

I would have thought the same. Maybe discounted payback will be needed to be calculated as a positive NPV is required within 2 years.

Should Have Done Arts

Any Idea of what he means by the Tax treatment

y0ssar1an22

Should Have Done Arts wrote: »

Any Idea of what he means by the Tax treatment

Not yet....but hopefully when I look a bit more in depth

Should Have Done Arts

Accelerated capital Allowances surely isnt examinable. That would effect the Depr figure in the investment appraisal.

Or else some expenditure will be capital in nature and some will be expensed as repairs.

y0ssar1an22

On a slightly unrelated note....
tax session 5&6 are in the recorded session folder. They are done by Grainne McDermott.
However, in the course material section there is a separate link to session 5&6 done by a different lecturer.

Anyone know what the story with this is? I suppose its just the same material done by different lecturers?

sarahmcm90

The one done differently n the Dublin 2group.. We do hve recorded lectures as part of our course. Say its same material

Kevint30

Does anyone have an idea what theory in this assessment could be based on? Nothing of relevence has struck me yet.

sarahmcm90

Sources of finance cud be a theory element i think