Flange/Flanders wrote: » Ill put it to you like this mr Dunne, I got an A1 in honours maths, a first class honours maths degree and passed finance and management accounting well last year and yet struggled with that exam today. The simple fact of the matter is that I was under too much time pressure for the case study which clouded my judgement for the section 2 questions, those parts that I recognised before. Granted I hadnt practised the Variance questions half enough but I was reasonally confident regarding hedging, then they throw up a question from completely left field.
r.dunne7 wrote: » Im sorry to be so blunt , but every year we get the same thing , the exams were so hard, the wording was so difficult, i have never seen that before, ... etc. The reason i beleive its done like that is becasue if they didnt word things in that way, or didnt throw in any curve balls.. etc , what you would have it a pass rate of 90%+ It will be like college exams, that what exactly college exams test, if you study the material and get your head around it all you have to do is regurgatate it on the day and everyone passes. I by no means condone the ICAI for setting such hard exams papers but in my opinon they have no other choice, as the pass mark is 50%. If things came up a little tricky but the majority of the marks could be easily obtained most people would pass. What if the ICAI upped the pass rate to 60% and made it an easier exam. Taken into account the continous assement for the ICAI most people scored a 12 out of 15 , this is a perfect case of testing material that is relatively straight forward in a stright forward manner.. look what happens. Pass rate would be the equvalent of 7.5 marks, and i think nearly 95% of people got that! At the end of the day the concepts and ides in SFMA are pretty easy to be honest, most people can get there head around variance, and company valuations and basic FX and intrest rates questions, they are not difficult. The only way to make realtively staight forward material into something challenging is to do what the ICAI have done. In my opinion the ICAI shoudl really put up at least 6 sample papers covering many topics and put them up at the level they come up in exams.... however to ensure that no one can simply learn off answers and templates they must put some curve balls in that no one ahs ever seen before!
r.dunne7 wrote: » Just rememebr that ur doing the hardest exams of your life at the moment , and that after you will have a prestigious qualificaiton. When you finsh and get your ACA and look back , you will be glad that the ACA was set at such a hight standard and that you can be proud to have such a prestigiuous qualification!
Sean Bateman wrote: » I've never read such rubbish in my life. You have no idea what you're talking about. Question 1 was as much a marketing question as it was an accounting/finance question. The variance question was unlike anything I've seen. It isn't fair to include a question of a level far higher than anything that's in circulation. And, as others have pointed out, people are being fired for failing these exams. Many people will have lost their jobs today. Think about that next time you feel like posting patronising nonsense.
R0N BURGUNDY wrote: » i can see what you are trying to say = that we will feel smug when we get there in the end. but believe me = the questions in this paper were absolutely ridiculous. honestly = last years were piss easy compared to it. wheres the consistency? there is none. there was a new examiner for sfma this year and he has ripped the arse clean out of it. and ruined the remainder of my summer: a) because il have it on my mind b) because il have to do the exam again. never failed an exam before in my life and pretty sure thats 2 in a row. what a result
r.dunne7 wrote: » And by the way i do know what im talking about i completed the exams last year and passed them. !
r.dunne7 wrote: » I feel very offended that your accsuing me of being patronising. People lose their jobs when they fail the resits in Autumn not for first time fails. And by the way i do know what im talking about i completed the exams last year and passed them. But it was the same.. eveyone was giving out about this and that, the SFMA question pack, the wording, the ethics question in Finanical Accounting, the jump in stadard, but unlike msot i jsut gave it my best shot, what consoled me was the fact that i was doing a professional qualification that was very prestigious and knew it was gonno be very hard. Im not being patronsing but trying to illustrate why things have to be the way they are! There is a standard and that standard is very high!
R0N BURGUNDY wrote: » wee question here for financial reporting: p54 in the toolkit reverses a share issue expense from operating expenses: Cr 5000 (w6) then in w6 it says: share issue expenses - option to write off against share premium. i thought costs incurred in acquisition under the new rules are supposed to be expensed in the period they occur in accordance with IFRS. P433 in the text book says as much. is the toolkit wrong here or is share issue expenses allowed to be written off against share premium>? i thought the reason the shares were issued was to acquire the 2nd company. cheers in advance
SL10 wrote: » Ugh I am going over FR at the mo and my brain has completly forgotten everything I have learned before now- so annoying! Its so difficult to switch from subject to subject in such a short space of time.
r.dunne7 wrote: » struggled but yet no doubt you will proberly pass. All the exams are set in such a way that eveyone struggles with them but most good canditaes usually pass them am i not correct?The ACA qualification is very prestigigous and respected throght out the world, much like degrees from oxofrd and cambridge are held in high esteem, if it wasnt for the extrmerly challenging nature of the exams, the prestige of the ACA qualifcation would be dimished. For example have you seen an oxford economics final paper compared to a John moores university ecomnics paper, beleive me the standard is significant between the two! A first class honur student from John moores Uni would struggle to get a 2.2 from oxford!!Just rememebr that ur doing the hardest exams of your life at the moment , and that after you will have a prestigious qualificaiton. When you finsh and get your ACA and look back , you will be glad that the ACA was set at such a hight standard and that you can be proud to have such a prestigiuous qualification! So everyone heads up and lets get these exams!!
UpAgainToday wrote: » After a long tough day on the stock exchange I often come to the accounting forums to have a laugh and it looks like dunne provided me with some comedy this evening
UpAgainToday wrote: » After a long tough day on the stock exchange... and he said the CFA qualification is at least 5-10 times tougher than ACA depending on the persons intellect of course. Tbh you sound like a little brain washed trainee accountant who has been told by his boss hes making a difference in the world - your cute
R0N BURGUNDY wrote: » these cap2 exams arent testing intelligence. i dont think so anyway. people that get "your" mixed up with "you're" are complete mongos.
UpAgainToday wrote: » After a long tough day on the stock exchange I often come to the accounting forums to have a laugh and it looks like dunne provided me with some comedy this evening I just highlighted 2 points - the first one where you talk about respect and prestige for an ACA qualification, im not sure how to say this but are you dumb? When people out of the likes of Harvards MBA program join investment banks their MBA is worth sh*t and your saying your little qualification is respected? HA yeah maybe respected by people with 30k jobs The second point I highlighted about the hardest exams people are doing I have one friend doing his CFA at the same time as his ACA (im trying to convince him hes wasting his time) and ive also done the CFA and he said the CFA qualification is at least 5-10 times tougher than ACA depending on the persons intellect of course. Tbh you sound like a little brain washed trainee accountant who has been told by his boss hes making a difference in the world - your cute
UpAgainToday wrote: » I have one friend doing his CFA at the same time as his ACA
Hackysack wrote: » Does your mate also fit in a bit of crimefighting in his spare time too?
prinz wrote: » How sad for you. You have my sympathies.
Sofa King Great wrote: » Someone should warn you and your stock exchange buddies that the head of the Irish Stock Exchange is a Chartered Accountant!http://investing.businessweek.com/research/stocks/private/person.asp?personId=32729562 :eek::eek::eek::eek:
