FAE 2016

Masterxd · 18-06-2016 11:48AM

Obrieski wrote: »

Anyone know how the scoring worked for the interim? For 3 indicators on the exam, if you got C C and BC, would that not be a C overall for example?

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

It would appear from that then, that C was impossible if your planning agenda wasn't right no matter how great your risks and responses were? Seems overly harsh I feel (but then I would say that!)

Separately, how are people feeling after the mocks? I wanted to give them a decent go to see how they went time wise etc. Core comp paper is a beast in itself that will require special attention due to its volume! Looking back I'm glad I tried it all and feel it's a worthwhile experience

Felt the same as you obrieski got a BC too thought I would of got a C even after looking at examiners report. Found the report pretty useless, the difference between a C and BC being identifies "a good number" to "some".

I gave the mocks a good go too with day 2 being the worst. Overall found them useful but they have made me even more concerned about August and the amount of work needed over the next few weeks!

TAA_ICAI · 18-06-2016 03:09PM

Hi All,

Would it be possible to get a copy of the ROI tax elective mock paper from Friday?

Thanks :-)

ACA2015 · 18-06-2016 05:16PM

Obrieski wrote: »

Anyone know how the scoring worked for the interim? For 3 indicators on the exam, if you got C C and BC, would that not be a C overall for example?

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

It would appear from that then, that C was impossible if your planning agenda wasn't right no matter how great your risks and responses were? Seems overly harsh I feel (but then I would say that!)

Separately, how are people feeling after the mocks? I wanted to give them a decent go to see how they went time wise etc. Core comp paper is a beast in itself that will require special attention due to its volume! Looking back I'm glad I tried it all and feel it's a worthwhile experience

Not to annoy you but I didn't feel I made a good go at the Planning Agenda. I didn't mention stuff like the Engagement letter. I really just focused on the risks in my Memo/Agenda but put in specific stuff like stuff to ensure is checked at the stock take. I was sure I was getting a BC and the solution makes me wonder. I did do the risks well tbh and maybe I did throw in a few lines which got me over the line with them. I was kicking myself when I was talking to people after.

FrStone · 18-06-2016 05:20PM

moleary20 wrote: »

Re. ROI Tax Interim Assessment

Did anyone else notice that the Examiner has referred to candidates' knowledge of the VAT treatment of the property as poor even though VAT on Property was specifically excluded from the Interim Assessment? Seems a bit out of line?

Yep, I've gone back and checked. Vat on property is specifically excluded from the interim assessment on the competency statement.

Even though knowing that shower nothing surprises me...

ACA2015 · 18-06-2016 05:38PM

Oh and here is an excellent link that was posted on page 2 obrieski ( I can't link due to post count).

To pass the Core you need Sufficiency and Depth. Sufficiency is essentially BC's of indicators throughout the paper. That should be achievable to most. BC is worth 2 points and a C/HC is worth 4 so could can compensate for missing indicators with Cs. The depth is the tricky bit.

You need 50% of the available indicators Cs in both FR & BL. You then need 50% of available BCs in the remainder.

In the elective you just need sufficiency, so BCs the whole way will get you home. That's why those with BCs in the elective shouldn't worry too much.

There's some great examples on that link of what a pass is and what a fail is.

Obrieski · 19-06-2016 12:08AM

ACA2015 wrote: »

Oh and here is an excellent link that was posted on page 2 obrieski ( I can't link due to post count).

To pass the Core you need Sufficiency and Depth. Sufficiency is essentially BC's of indicators throughout the paper. That should be achievable to most. BC is worth 2 points and a C/HC is worth 4 so could can compensate for missing indicators with Cs. The depth is the tricky bit.

You need 50% of the available indicators Cs in both FR & BL. You then need 50% of available BCs in the remainder.

In the elective you just need sufficiency, so BCs the whole way will get you home. That's why those with BCs in the elective shouldn't worry too much.

There's some great examples on that link of what a pass is and what a fail is.

Hi ACA,

thanks. I was aware of that marking scheme alright, my question was around the interim itself.

So for audit for example, there was 3 "issues" we'll call them in that paper. There is no indication of how to get a C based on these issues whether a C in 2 of them and and a BC in the third or how that break down worked.
That's my main issue really. There is really a lack of communication in relation to this kind of thing and you are left guessing which is unfair on students who are under enough pressure as it is. But that's the nature of the beast I suppose

superb choice of username · 19-06-2016 10:30AM

Obrieski wrote: »

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

Masterxd wrote:

Felt the same as you obrieski got a BC too thought I would of got a C even after looking at examiners report. Found the report pretty useless, the difference between a C and BC being identifies "a good number" to "some".

I'm in the same boat. Pretty disappointing result. Not too happy that we are not allowed to get feedback/contest the result. Not sure is the best to do now - just forget about it / email cassi / email CAI?

I'd be pretty raging if fail the elective by two points....

Just hope that they will take it into consideration if borderline fail at the time of the final results.

On a side note, anyone heard anything about the CASSI report to the exam? No sign of it yet...

TDky · 21-06-2016 01:47PM

Hi Everyone, I'm a Core repeater... Could you please post the mock exams? How did they go?

JoanH · 22-06-2016 11:34AM

Hi all,
Could somebody post up the Tax reference material for the Core paper 2016. I'm a repeater and I don't have access to any of the updated tax info. Sincere thanks in advance.

myshirt · 22-06-2016 02:25PM

Can someone post the stats of C's, BC's, NC's, etc?

And also the papers and suggested solutions?

TitianGerm · 22-06-2016 02:43PM

Folks I'm not sure if this is the correct place to post or start a new thread but I assume someone here might know the answer.

I've been following this thread all year and currently repeating Tax and FR at CAP2 level. At the moment I'm considering switching over to ACCA after I pass these two exams because I'm not a fan of the marking scheme for FAE with ACA and I find it to lack transparency (maybe I'm wrong here), something which the Institute is always harping on about.

I'm just wondering does anyone know what exams would a ACA student need to do if they switched over to ACCA after completing CAP2 at ACA?

Uncle Mclovin · 24-06-2016 07:30PM

Got an email today from the FAE team saying the solutions to the mocks were in the student portal but I can't find them.

Can anyone see them?

The chartered accountants website is rubbish.

Squareball2010 · 24-06-2016 07:48PM

Uncle Mclovin wrote: »

Got an email today from the FAE team saying the solutions to the mocks were in the student portal but I can't find them.

Can anyone see them?

The chartered accountants website is rubbish.

They're there alright - way down the bottom of "Notes" tab within Course materials & timetables

bigmc23 · 24-06-2016 08:11PM

emmetkenny wrote:

I'm just wondering does anyone know what exams would a ACA student need to do if they switched over to ACCA after completing CAP2 at ACA?

Well Emmet. Did a the cap2 fr paper today (3rd time) and will prob jump to acca when I pass it. From my research (just been browsing) after the CAP2 you'd start at the professinal papers with acca.

TitianGerm · 24-06-2016 08:56PM

bigmc23 wrote: »

Well Emmet. Did a the cap2 fr paper today (3rd time) and will prob jump to acca when I pass it. From my research (just been browsing) after the CAP2 you'd start at the professinal papers with acca.

Thanks for that Bigmc, that's what I gathered as well but no harm in getting a second opinion.

Yea repeating for the third time as well (Third year as well because in missed one sitting each time). Failed first time out with 48 and second time with 46

Today's paper was fair enough but as usual I ran out of time and didn't get to do Part C in Q1 or all of Issue 3 in Q3 done so will miss out on 12-15 marks straight away so could be at it again in October.

donnem33 · 25-06-2016 01:13PM

Squareball2010 wrote: »

They're there alright - way down the bottom of "Notes" tab within Course materials & timetables

is the elective solution there too? i can only find a document with guidance on fae 2016 mock exam results

Kylio7 · 29-06-2016 08:26PM

Hi. Attempting to do the Rotait cross marking question. Would anyone be able to explain where the 25,760 figure comes from in relation to Design Staff in the contribution per limiting factor indicator?

Rusty91 · 30-06-2016 11:40AM

Hey,

Could someone clarify if IFRS 15 is applicable?IAS 11 and 18 are on the planning and delivery schedule but IFRS 15 is the new standard. Not sure which one I should be using

Thanks in advance

superb choice of username · 30-06-2016 11:47AM

Rusty91 wrote: »

Hey,

Could someone clarify if IFRS 15 is applicable?IAS 11 and 18 are on the planning and delivery schedule but IFRS 15 is the new standard. Not sure which one I should be using

Thanks in advance

The planning and delivery schedule prevails.

IFRS15 is only effective from 1st Jan 2018 anyway..

Uncle Mclovin · 30-06-2016 03:27PM

superb choice of username wrote: »

The planning and delivery schedule prevails.

IFRS15 is only effective from 1st Jan 2018 anyway..

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

FrStone · 30-06-2016 04:17PM

Uncle Mclovin wrote: »

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

It's that the cases book? If it is I saw that, it caused me a bit of confusion alright.

Uncle Mclovin · 30-06-2016 04:58PM

FrStone wrote: »

It's that the cases book? If it is I saw that, it caused me a bit of confusion alright.

Ya thats the one. I find the cases are good other than that though.

anthonygoodman · 05-07-2016 10:58PM

Has a FAE 2016 cheat sheet been produced yet?

TDky · 06-07-2016 05:36PM

HI Everyone, I'm just wondering how long are the people repeating taking for study leave?

Lyra Fangs · 07-07-2016 09:33PM

Uncle Mclovin wrote: »

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

Just FYI, IFRS 15 was examinable for cap 2 this year despite not yet being in operation. Might be something to clarify with your lecturer.

Garrigai · 08-07-2016 09:05AM

IFRS15 is not in the competency statement

superb choice of username · 08-07-2016 09:57PM

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

Kevint30 · 09-07-2016 10:25AM

superb choice of username wrote: »

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

You got the results already?

superb choice of username · 09-07-2016 11:34AM

Kevint30 wrote: »

You got the results already?

Yes, they are in the scripts available for collection yesterday!

PunkFreud · 09-07-2016 01:52PM

superb choice of username wrote: »

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

I failed by a long way on sufficiency, but thought they were marked quite hard. I did shocking in BL, so I know I need to focus on that a lot more over the next 5 weeks. There's still a lot of time to push up the grades.

Feedback in each paper is super useful. I liked how a different lecturer marked each script, so we get x3 different points of view for Core.

They should give me the kick up the arse I need, to motivate me in the home stretch of study leave!

FAE 2016

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