FAE 2017

AtticusFinch86 · 10-08-2017 11:12AM

rcoffey wrote: »

the lecturer on our last case study day said that 95% of that book is useless, but highlighted ias's 37, 38 and and ifrs 8 of having good examples, and the exam board use this book for pulling questions as they know nobody looks at it. Could come in handy in the exam if you are stuck, also there is a good sale and leaseback example in ias 17.

I haven't as much as looked in the direction of those IFRS books since we got them last year. I don't know why they waste money getting them printed and distributed. There are far more effective ways of studying than trawling through 2,000 pages of standards and interpretations. It could just be made available online or something. That way you can just print what you need.

I've hit a bit of a brick wall today. I really can't be arsed attempting any more cases (even though I've only done a couple to date). I'm even considering going back into work for a few days next week just to change up my routine.

I think i'll just start taking a high level view of all the cases we were given and possibly look at the Derry Cotter book solutions to see what type of FR quirks to expect as FR is the main area I'll trip up in.

Paulacc · 10-08-2017 11:43AM

I think the standards books can be useful if you have referenced them well. You only need to know a few key paragraphs from each standard. It's also good to have them with you in the exam in case something comes up that your FR summary notes don't cover.

MrSzyslak · 10-08-2017 12:13PM

How's your timing looking when you complete cases? I'd be careful about going back to work man and just keep it going. They suggest at least 4 core comp cases under time pressure and 8 Sims.

Will all be over Friday week, plenty time for work then. The next 40 years!!! ðŸ˜‚

AtticusFinch86 · 10-08-2017 12:25PM

MrSzyslak wrote: »

How's your timing looking when you complete cases? I'd be careful about going back to work man and just keep it going. They suggest at least 4 core comp cases under time pressure and 8 Sims.

Will all be over Friday week, plenty time for work then. The next 40 years!!! &#55357;&#56834;

I wouldn't mind saving the annual leave but I'll get the 2017 comp, 2 sims and APM done at the weekend (under exam conditions) and see where I'm at then.

Timing hasn't been too much of a problem to date. I had about 20 minutes to spare in the Cores about 30 minutes in the Sims. I'm not saying I'm breaking the bank in terms of C/s & HC's but judging by the solutions I'd be comfortably over the bar. Again, that's going by the 2016 final papers and 2017 mocks, which from what I gather, were not the most difficult of papers. I expect that to change for this year though.

MrSzyslak · 10-08-2017 12:51PM

Very good you sound set . You put in quite a bit of work with the notes and that so good on ya.

Think I found the 2017 mocks very difficult when I did them. That was about a 3 weeks ago though, maybe I should revisit them now to see if I have improved ha.

AtticusFinch86 · 10-08-2017 01:03PM

MrSzyslak wrote: »

Very good you sound set . You put in quite a bit of work with the notes and that so good on ya.

Think I found the 2017 mocks very difficult when I did them. That was about a 3 weeks ago though, maybe I should revisit them now to see if I have improved ha.

Yeah it defo wasn't easy but it I found it a big step down from the 2016 mocks (although still harder than 2016 final). But yeah, if I had of done it (the 2017 mocks) 3 weeks ago I'd have been clueless as I had no technique for reading and planning my answers. And technique is half the battle as far as I'm concerned.

MrSzyslak · 10-08-2017 11:08PM

How close to the actual solution do you need to get to earn credit.

Like when it says candidate must address any 3 of the following 6 points.

Is it enough to mention and expand on them a little. Like I am a usually hitting the points fairly logically but not sure about the depth I am supplying.

I may be giving myself C and RC when examiner wont. Wish I did the mocks. Panic setting in again ha.

MrSzyslak · 10-08-2017 11:20PM

(found this online not that it helps much, think I'll continue being generous to myself when markingðŸ˜‚)

How do I know how much detail to include in an answer to a particular indicator?

There is no single, correct answer to this. At FAE, candidates are expected to use professional
judgement to guide the level and depth of response. Particular attention should be paid to the
direction given in the case study, particularly the verbs used (See â€œLexicon of Verbsâ€ â€“ available on
the student web portal â€“ for further guidance on verbs). Also, be sure that youâ€™ve captured all parts of
the requirement: Are you being asked for a decision or a ranking? Have you presented a balanced
argument? Is your response tailored directly to the case facts?

Catherine3006 · 11-08-2017 01:12PM

Just took a quick look at the CAP2 PEC Report to get an idea on pass rates this year and they have stayed broadly in line with last year - hopefully this trend continues into the FAE papers.

Smileckie · 11-08-2017 09:50PM

I know the amount of indicators is usually 7-9 for comp and 3-5 for sims but I'm almost 100% sure a lecturer said this year that it's 8,4,4 for 2017? Did anyone else hear this or have I gone mad?

CAIgirl · 11-08-2017 09:55PM

Smileckie wrote: »

I know the amount of indicators is usually 7-9 for comp and 3-5 for sims but I'm almost 100% sure a lecturer said this year that it's 8,4,4 for 2017? Did anyone else hear this or have I gone mad?

Yeah I did as well. The last two years it's been in that format of 8,4,4 I think.

CAIgirl · 11-08-2017 10:02PM

Is anyone else panicking about the exams. Feel like I could do with another month but also want to get them over and done with

MrSzyslak · 11-08-2017 10:47PM

CAIgirl wrote: »

Is anyone else panicking about the exams. Feel like I could do with another month but also want to get them over and done with

I am in the same boat I want get them finished so I can go on holidays ha but I can think of loads of areas that could trip me up and I am trying to think what my priorities for the last week should be!:eek:

MrSzyslak · 11-08-2017 10:49PM

Does anyone have a list of past indicator solutions to print for audit elective by any chance?

dakerrymo · 11-08-2017 11:24PM

MrSzyslak wrote: »

I am in the same boat I want get them finished so I can go on holidays ha but I can think of loads of areas that could trip me up and I am trying to think what my priorities for the last week should be!:eek:

Surely having all the Sims & Core for 2015,2016 and Jan 2017 along with Mocks, ICD, Steps and Cross-Marking all as reference points will suffice to get through! Along with logic and application to the case!!! That's hopefully what I'm banking on anyway! As for Tax Elective I need to spend all next week on this one as I've ignored it for last two weeks!!! Fingers and toes crossed!!!!

Conchur1 · 12-08-2017 10:48AM

MrSzyslak wrote: »

Does anyone have a list of past indicator solutions to print for audit elective by any chance?

This might help chief

MrSzyslak · 12-08-2017 12:40PM

I should of been more specific, I meant indicators mapped to the competency statement to reference to in the exam.

Tired from study hahaha

Conchur1 · 12-08-2017 12:45PM

MrSzyslak wrote: »

Conchur1 wrote: »

This might help chief

Do you have one?

You didn't mean to attach something there did ya?:D

I've one that breaks own the indicators in the AAAE case pack. How does a man go about attaching on this website? I thought I had

MrSzyslak · 12-08-2017 04:38PM

Conchur1 wrote: »

I've one that breaks own the indicators in the AAAE case pack. How does a man go about attaching on this website? I thought I had

Sweet that would be great!

If you post reply there should be a little paper clip that seems to be it but I have never used it.

onetwostep · 13-08-2017 02:00PM

Conchur1 wrote: »

I've one that breaks own the indicators in the AAAE case pack. How does a man go about attaching on this website? I thought I had

I'd be really grateful for that too, haven't even looked at the case pack yet!

Melon head · 14-08-2017 09:50AM

Anyone have any idea what will come up in tax elective paper. What are people focusing on??

cofric · 14-08-2017 10:11AM

Melon head wrote: »

Anyone have any idea what will come up in tax elective paper. What are people focusing on??

the examiner highlighted that there would be a focus on reorganisations in the future in the Jan 2017 report, besides that everything is fair game

Catherine3006 · 14-08-2017 05:32PM

Sorry if this has been posted already but does anyone have a tracker of what topics come up in each case we have for Core (including the self study cases)?

Meant to keep a list as I was going through but of course I didn't and now it's panic stages..

How is everyone feeling for the last week?

MrSzyslak · 15-08-2017 09:20AM

Try first page of this thread Catherine. One there for each apart from tax

Catherine3006 · 15-08-2017 09:57AM

MrSzyslak wrote: »

Try first page of this thread Catherine. One there for each apart from tax

Thank you, had a quick scroll through the thread last night but obviously wasn't reading it properly!

Paulacc · 15-08-2017 11:08AM

Any opinions on whether Brexit will feature heavily in the exams?

Jsmac67 · 15-08-2017 11:09AM

Paulacc wrote: »

Any opinions on whether Brexit will feature heavily in the exams?

Possibly give rise to some kind of FX hedging given uncertainty.

MrSzyslak · 15-08-2017 12:29PM

Just did Bearcat cross marking case. FR indicator requiring a list of journals for deferred tax was extremely difficult. Everyone concur?

CAIgirl · 15-08-2017 01:05PM

Has anyone heard of deferred r&d. I saw it somewhere in a case study and can't remember

AtticusFinch86 · 15-08-2017 01:19PM

CAIgirl wrote: »

Has anyone heard of deferred r&d. I saw it somewhere in a case study and can't remember

Think it's in the Velter steps case, and one or two others. It's basically any r&d that's been recognised as an intangible asset

FAE 2017

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