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CAP2 Exams

Mark1916

Hi,

Thought id set up a thread so people can air their views, problems, tips etc for the up comming exams!

Ill start off and say I think Cash Flows are a high possibility for the Financial Exam!

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Hackysack

costacurta wrote: »

Are the stamp duty rates given in the tax refererence material in the exam?

Yep they are.

Sofa King Great

julio arca wrote: »

It's safe to say the exams have been harder than expected so far. Looking towards FR tomorro what are people cramming at this late stage? I have totally left out cash flows, i hope that doesnt come back to haunt me

I think we could be in the same boat!

Flange/Flanders

Sofa King Great wrote: »

I think we could be in the same boat!

Can I get on that boat?

Dell2009

Qusetion 1 was an absolute nightmare. My God the institute are intent on keeping the pass rate very low.

Sofa King Great

Dell2009 wrote: »

Qusetion 1 was an absolute nightmare. My God the institute are intent on keeping the pass rate very low.

All the details about the various debt & equity was presented so badly. I spent ages just trying to work what that page was trying to say.

And as for that tosser having cappucino on a wet saturday morning?? What the **** was that all about

R0N BURGUNDY

wasnt that bad i suppose. compared to yesterday anyway. i looked at the 2007 prof3 question last night and it was the same style for question 1. i just couldnt get into the swing with it at all though and managed to give a rubbish cash flow and loads of **** must have been missing from it. totally fV<ked up earnings per share with flying colours. the way it was laid out was a pain in the balls.

the consolidated SoCI and SoFP = wasnt too bad but didnt balance. ah well = got most of it done. then - did Q4. what crap was i talking there. didnt know what i was at.

is resitting all 4 taking the piss?

suppose if i try really really really hard today/tonight that i might pass tax 2moro... probably not.

cuppatae1

How was the paper? Did cash flows come up?

Sofa King Great

cuppatae1 wrote: »

How was the paper? Did cash flows come up?

It came up as a 33 mark question in the case study with Diluted EPS and ethics being the other part

R0N BURGUNDY

yeah, cash flows. they did that **** where they have already consolidated everything and then get u to make adjustments to go into the cash flows. cash flows is something iv put alot of effort into but couldnt get it done properly anyway. my answer was dump. i think im that shattered from the last 2 days, i cant really perform properly.

Dick Turnip

cash flow in section 1 for 36marks, eps for 12 marks or so and 10 marks on the end that i can't really remember.

section b a straight forward enough consolidation of a subsidary and an associate.

2nd question i didn't go near, about pension schemes and deferred tax.

last question was about valuation of land and bulidings.

i failed miserably but i hadn't enough work done on either cashflows or eps so i can only blame myself. maybe somebody better prepared could give a better idea on the overall fairness of it although i thought the layout of the case study was fairly complicated.

roll on tax!

crabcreature

Honestly, If I added up my marks for the last 3 exams I wouldnt even reach 50%. And its not like i didnt work for them....Can't wait to see what my employer says.

R0N BURGUNDY

crabcreature wrote: »

Honestly, If I added up my marks for the last 3 exams I wouldnt even reach 50%

maybe the institute should take this idea up (50% over all 4 exams) = would give me the slightest possibility of passing the year

levi

I dunno... I had looked at cash flows so gave it a good bash... you do get marks for attempting stuff right?

The way people talk on here you'd think they don't give you any marks if you don't get the right answer.

I did Q2 first... it was straightforward enough, then did the Cash Flow... gave it a go, didn't get it out and probably left stuff out for the shares and stuff. But sure hopefully I'll pick up a few marks.

Did the EPS question, hoping I picked up marks on it too... difficult to know if it's correct.

I think the problem with question 1 was that all the info for the EPS question confused people for the cash flow.

Q4, I ****ed up. In too much of rush

Hope I can scrape enough to get a pass... it's so difficult to know though!

julio arca

Cash flows

absolute nightmare. I just realised that i gave all my EPS answers wrong by one decimal place i.e. €1 rather than €0.10. Does this render my answer totally wrong. Question 2 was reasonable, question 3 looked like a nightmare so i tried to blag my way through question 4 instead. I get the impression the cash flow may have been ok had i studied for it.

Rickyroma

Can't help but feel I've missed a good chance to pass that exam. Cash Flows were pretty heavily tipped (see the first post on this thread!). 36 marks is excessive though.

The consolidation seemed straightforward (not that it balanced - they never balance) but 18 marks was too few for a SCI and SFP.

The EPS was shrouded but, like it or not, thats the style they are going for. God knows why. Once you got stuck in it seemed ok-ish.

Qs 3 and 4 just go to show you have no chance of covering everything in sufficient depth -the course is too big. There are probably 30 topics that the examiner could chose from - this time it was pensions.

levi

I didn't think that pensions was on the course enough to warrant a 12 mark question or whatever...

pepp

I'm so glad i read this thread and it made me think about consolidated cash flow more. i feel this was a better paper than last years,

i also spent alot of time on property and borrowing costs so q4 was good too q2 was straight forward enough so feeling pretty confident. Good luck to everyone for 2moro.

RT2010

Think a lot of people like myself had probably pinned their hopes on Q1 being a consolidation q as per the mock paper.
I agree Q2 wasnt too bad but too much work and time needed for 18 marks.
Attempted the cash flow based on some sample questions I had with me but couldnt get my head around some of the notes about the bonds/share options etc.
Hopefully picked up a few marks on the ethics part - very waffly though!

levi

would be interested in seeing the solution to the cash flow. It wasn't obvious what needed to be used but anyway... tis done now! Roll on 1pm tomorrow

DaeryssaOne

Don't think this paper was bad as the other 2 this week. Question 2 was grand, it didn't balance for me but didn't waste time trying to fix it cos I figure I got the majority of the marks anyway, did q3 for some reason and just followed the defined contribution and deferred tax from previous questions (absolutely no idea if they were right!)

The case study wasn't too bad. The examiner took all that share stuff for the EPS calc word for word from a CPA case study we were given...thank god! Only a couple of numbers changed around it was exactly the same apart from that...

Muddled through the cash flow, think I prob left loads out but should have got enough marks to scrape a pass anyway!

And what the hell was that question for TEN MARKS at the end!!!? Wrote complete sh*te about it!

mountcarmel

Came to Q3

Had looked over the stuf in the notes but wasnt sure of defined benefit (10 marks - 10% of ENTIRE course)....

...so whip open notes at IAS 19 - employee benefits

a bloody one pager with in BOLD writing at the end:

"Defined benefit scheme/ final salary schemes (NOT EXAMINABLE AT CAP 2)

Is this some sort of sick joke??????? Says it all really, Institute are a bunch of absolute kn0bjockeys

Spot_the_Dog

Heard rumours that some people had the EPS question from today. Not sure if its true but apparently it was lifted from an old ACCA paper.
Scandalous if that's true, especially as last year's examiner was fired for something similar.

(Note: I'm not accusing ICAI as I'm just going from rumours - anyone hear something along these line to confirm?)

DaeryssaOne

Spot_the_Dog wrote: »

Heard rumours that some people had the EPS question from today. Not sure if its true but apparently it was lifted from an old ACCA paper.
Scandalous if that's true, especially as last year's examiner was fired for something similar.

(Note: I'm not accusing ICAI as I'm just going from rumours - anyone hear something along these line to confirm?)

I had it from a CPA paper we were given during the year. Couple of share amounts and percentages changed but all in all it was the same dates, options etc...

julio arca

I know lifes not fair n all that jazz but surely its not a level playing field when some student have the answer in front of them. The institute need to clamp down on this(as you can tell i didnt have the paper)

Spot_the_Dog

jobr wrote: »

I had it from a CPA paper we were given during the year. Couple of share amounts and percentages changed but all in all it was the same dates, options etc...

That's ridiculous!!!

Not giving out to you, fair deuce for having it and being organised and finding it in your notes. I'd say you were absolutely delighted.

leanne249

Spot_the_Dog wrote: »

Heard rumours that some people had the EPS question from today. Not sure if its true but apparently it was lifted from an old ACCA paper.
Scandalous if that's true, especially as last year's examiner was fired for something similar.

(Note: I'm not accusing ICAI as I'm just going from rumours - anyone hear something along these line to confirm?)

I had also from CPA exam paper.For EPS and dilutive question it was almost exact the same wording except few changes

DaeryssaOne

Spot_the_Dog wrote: »

That's ridiculous!!!

Not giving out to you, fair deuce for having it and being organised and finding it in your notes. I'd say you were absolutely delighted.

I can honestly say I was nearly singing with happiness when I realised I had it!
I know it's bad form for everyone who didn't have it and I actually even felt a bit guilty when I was doing it but then realised it's the examiners complete laziness that's to blame and not me!

Spot_the_Dog

Can i ask what CPA paper it was? Cheers

leanne249

Spot_the_Dog wrote: »

Can i ask what CPA paper it was? Cheers

2009 April Advanced Corporate Reporting

prinz

Heard the same as I was leaving today. Some people had the question and solution almost word for word, just substituting figures. :mad: This is ridiculous. FFS. After last years cock-up with the SFMA. The Institute is a f*cking joke tbh, am seriously wondering at this stage what the point is, crap money, crap work, almost no life at all outside of accounting, the one thing that would keep you going is the thought that putting the work in would pay off come exam time and then you'd at least have a few months with no study. Now it seems no matter how much work you put in unless you know the course inside out and backwards, which is IMO virtually impossible while also working full-time, then you're chances of actually passing comes down to pure luck.

Doubt I got enough to pass FR tbh had time issues again and it's (was anyway) my weakest subject.