FAE 2016

Uncle Mclovin · 11-08-2016 12:08PM

Rusty91 wrote: »

Hope everyone is getting on well.

Just wondering what area of finance & mgt are likely to be focused on. Finance and mgt are my weakest at this stage. Any recommendations? How has anyone else prepared for these areas?

Also in terms of exam technique, how long do people spend planning. I find a half hour on top of reading time eats into writing time especially if the indicator isn't too straightforward.

I'd consider myself weaker in those areas also but my thinking is that I just need to get BC in both so I'm not wasting too much time worrying about them.

On the planning, I'm hoping to plan for an hour aswel as the 30 mins reading time. Then roughly 20 mins for each indicator after.

TAA_ICAI · 11-08-2016 01:41PM

Hi All,
Anyone know how the capital employed figure - 11,710 for stoves business was calculated in Woodburn 2014 mock?
Thanks

PunkFreud · 11-08-2016 02:05PM

Rusty91 wrote: »

Hope everyone is getting on well.

Just wondering what area of finance & mgt are likely to be focused on. Finance and mgt are my weakest at this stage. Any recommendations? How has anyone else prepared for these areas?

Also in terms of exam technique, how long do people spend planning. I find a half hour on top of reading time eats into writing time especially if the indicator isn't too straightforward.

With Finance and Mngt A/C make sure to throw down some Pros and Cons, after doing your calculations. You may only spend 5mins doing it, but from the Exam Solutions, it should knock you from NC to BC or BC to C.

In terms of planning, I normally spend 45mins for the comp (inc reading time). I know the institute recommend more than that, but at the end of the day, you get more marks for actually writing the answer. The time I save "not planning" I spend re-reading the relevant sections of the paper, to ensure I hit all the points on the indicator.

Will this strategy pay off? Who knows. At this stage it feels like a bit of a lottery - a lot will come down to how the examiners write the papers.

CAstudent · 11-08-2016 04:07PM

Rusty91 wrote: »

Hope everyone is getting on well.

Just wondering what area of finance & mgt are likely to be focused on. Finance and mgt are my weakest at this stage. Any recommendations? How has anyone else prepared for these areas?

Also in terms of exam technique, how long do people spend planning. I find a half hour on top of reading time eats into writing time especially if the indicator isn't too straightforward.

I did the extra cases that they gave us and made sure to concentrate on the ma/finance indicators in the pack.

My plan for planning is to have a quick read of the case not quite a skim but just trying to locate the indicators. Then a more detailed read trying to pick key points in each area, after that try and see if there's any logical order for the response (probably not really based on the comps I've attempted so far) and then lash into them. Can't see myself using much of the writing time for planning tbh.

Mypillowface · 11-08-2016 04:13PM

Hi, does anyone have Joe Healy's email?? Stuck on an APM question!!!!

CAstudent · 11-08-2016 06:21PM

Mypillowface wrote: »

Hi, does anyone have Joe Healy's email?? Stuck on an APM question!!!!

Not sure he ever gave it to us, I don't have it anyways...

Kristina F · 11-08-2016 11:30PM

After them mocks I am so scared of these exams ðŸ˜³ anybody have any idea about what could come up under finance and management? I'm hoping for KPIs, IPO, Due Dilligence etc..what do ye think?

y0ssar1an22 · 12-08-2016 04:33PM

Kristina F wrote: »

After them mocks I am so scared of these exams ðŸ˜³ anybody have any idea about what could come up under finance and management? I'm hoping for KPIs, IPO, Due Dilligence etc..what do ye think?

for some reason I think a good case study would be a gambling website (growing industry). easy to incorporate all the subjects into.

trying to cover a bit of everything. just hope SoCF, consol SoCF and foreign subsidiary dont come up.

Rusty91 · 13-08-2016 12:13AM

y0ssar1an22 wrote: »

for some reason I think a good case study would be a gambling website (growing industry). easy to incorporate all the subjects into.

trying to cover a bit of everything. just hope SoCF, consol SoCF and foreign subsidiary dont come up.

I feel the same way. Not sure what I want to come up in FR. All the FR in the cases seem so bizarre. I struggle to get RC despite having done Derry Cotter twice and reasing the standards back to front. Hoping it's a bit more straightforward in the real thing

ACA2015 · 13-08-2016 03:41AM

Rusty91 wrote: »

I feel the same way. Not sure what I want to come up in FR. All the FR in the cases seem so bizarre. I struggle to get RC despite having done Derry Cotter twice and reasing the standards back to front. Hoping it's a bit more straightforward in the real thing

In which ones do you struggle to get RC standard? Past exam papers?

ACA2015 · 13-08-2016 03:47AM

y0ssar1an22 wrote: »

for some reason I think a good case study would be a gambling website (growing industry). easy to incorporate all the subjects into.

trying to cover a bit of everything. just hope SoCF, consol SoCF and foreign subsidiary dont come up.

Bit lengthy to ask a SoCF and consol CF, no? From the past papers, it really just seems to be standards and work around calculating goodwill/adjustments on consols rather than lengthy, technique heavy stuff like CFs.

Risteard · 13-08-2016 08:30AM

ACA2015 wrote: »

Bit lengthy to ask a SoCF and consol CF, no? From the past papers, it really just seems to be standards and work around calculating goodwill/adjustments on consols rather than lengthy, technique heavy stuff like CFs.

Was thinking the same when I was going over them myself. Hard to get a full indicator without drafting.

Could throw in something about recognising something as cash in the balance sheet as part of audit/fr I suppose

CAstudent · 13-08-2016 09:13AM

Having a quick look through the cs this morning, see we are supposed to be familiar with the companies act 2014. Did we get any notes or anything on it?

15YemenRoad · 13-08-2016 09:51AM

CAstudent wrote: »

Having a quick look through the cs this morning, see we are supposed to be familiar with the companies act 2014. Did we get any notes or anything on it?

I'm bringing the CAP1 Law book in just in case (probably a bit out of date) but don't really expect to use it.
The CAP1 Law notes are on the website in a zip file if you want, it's probably covered in those.

ACA2015 · 13-08-2016 03:14PM

Risteard wrote: »

Was thinking the same when I was going over them myself. Hard to get a full indicator without drafting.

Could throw in something about recognising something as cash in the balance sheet as part of audit/fr I suppose

Yeah I personally doubt it will come up. It's the FAEs, not CAP 1s or 2s, they move away from drafting a financial statement at this level as they expect you to know it if you've got this far and it's more exam technique than anything else. Where something "technical" is likely to come up is a pure double entry type question, like last year where you had to post audit journals and correct journals. It's a consistent comment from the AAFRP & past papers that students still struggle with that and in a 30 minute an indicator type format, easier and fairer to catch students on that then slogging through a cash flow.

myshirt · 13-08-2016 07:37PM

Best of luck to everyone!

If I could give any advice, focus at this stage on ensuring your notes are organised and ready, and know your high level strategy for tackling this.

Read it, plan it, do it. Eat this elephant in bite size chunks. Conclude, advise, and best of luck guys! Keep your composure! Just like Will Ferrell said in Old School https://youtu.be/hrwvn9-TL5E

Put on the war paint http://goo.gl/7lTFXI (sound required)

And do not forget to heed to the advice of the Fae Oracle Mr. Paul Monahan (http://goo.gl/kxKYqA) who knows what the Fae Board have had for breakfast before they even know themselves; he's at least two rotations ahead of them in the way that this exam is going and he commands a lot of respect as a result.

Risteard · 13-08-2016 07:58PM

Now that's motivation.

https://youtu.be/gq2CMoTsp5Y

Uncle Mclovin · 13-08-2016 10:26PM

myshirt wrote: »

Best of luck to everyone!

If I could give any advice, focus at this stage on ensuring your notes are organised and ready, and know your high level strategy for tackling this.

Read it, plan it, do it. Eat this elephant in bite size chunks. Conclude, advise, and best of luck guys! Keep your composure! Just like Will Ferrell said in Old School https://youtu.be/hrwvn9-TL5E

Put on the war paint http://goo.gl/7lTFXI (sound required)

And do not forget to heed to the advice of the Fae Oracle Mr. Paul Monahan (http://goo.gl/kxKYqA) who knows what the Fae Board have had for breakfast before they even know themselves; he's at least two rotations ahead of them in the way that this exam is going and he commands a lot of respect as a result.

Re Paul Monahan even a stopped clock is right twice a day. I found all he did was talk about how great the Americans thought he was and tip everything to come up.

15YemenRoad · 14-08-2016 02:56PM

Anyone else lost the will to live?

Can't face looking at any more cases.

ACA2015 · 14-08-2016 05:39PM

15YemenRoad wrote: »

Anyone else lost the will to live?

Can't face looking at any more cases.

All about chilling at this point. A few FR questions and some strategy theory here and there. Cannot face another case study until Tuesday!

Rusty91 · 15-08-2016 09:26AM

ACA2015 wrote: »

In which ones do you struggle to get RC standard? Past exam papers?

The mocks. I'm presuming those will be the topics most likely to be examined. I personally felt even IAS 40 on the 2016 mock was difficult and that's nearly an ideal topic to come up

CAstudent · 15-08-2016 09:50AM

Rusty91 wrote: »

The mocks. I'm presuming those will be the topics most likely to be examined. I personally felt even IAS 40 on the 2016 mock was difficult and that's nearly an ideal topic to come up

I think the difficulty with some of the FR indicators on the mocks is that they're written in such a confusing fashion. The exam indicators tend to be a lot easier to understand.

Rusty91 · 15-08-2016 09:54AM

CAstudent wrote: »

I think the difficulty with some of the FR indicators on the mocks is that they're written in such a confusing fashion. The exam indicators tend to be a lot easier to understand.

I really hope so. It's extremely disheartening when you're struggling to hit RC & C on the papers at this stage. I find most of your time on the mocks is spent trying to figure out what they are actually telling you which eats into writing time.

jkiamasnake · 15-08-2016 04:18PM

how are people getting on for the audit elective? I am so sick of study at the moment!

Best of luck to all this week!

superb choice of username · 15-08-2016 09:32PM

jkiamasnake wrote: »

how are people getting on for the audit elective? I am so sick of study at the moment!

Best of luck to all this week!

Audit elective??? That's Thursdays problem

Kristina F · 15-08-2016 09:35PM

superb choice of username wrote: »

Audit elective??? That's Thursdays problem

The audit elective is on Friday or have I got it wrong??

superb choice of username · 15-08-2016 10:01PM

Kristina F wrote: »

The audit elective is on Friday or have I got it wrong??

Sorry to scare you, just the revision is Thursday!! Exam is Friday!!!

Kristina F · 15-08-2016 10:02PM

superb choice of username wrote: »

Sorry to scare you, just the revision is Thursday!! Exam is Friday!!!

Lol Oh I get you now

TAA_ICAI · 16-08-2016 03:55PM

Any thoughts on how that went??

Kristina F · 16-08-2016 04:03PM

TAA_ICAI wrote: »

Any thoughts on how that went??

Thought it was ok. Business leadership indicator re; ethics and the strengths and weaknesses was a bit iffy tho. Had a good attempt at the interest swap thing but it was a bit rank.

FAE 2016

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