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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

Guys send your mails to the CASSI. I've been typing up my mail as we're going along. The more people that complain about the obvious cock up, the better.

Altaglusgan Lad

Hackysack wrote: »

Guys send your mails to the CASSI. I've been typing up my mail as we're going along. The more people that complain about the obvious cock up, the better.

do u have an email address for them. or will the feedback sheet which we are to get after tomarrows test enough to get the message across to them?

Rickyroma

Dell2009 wrote: »

Yes I think you are right about this. No calculations on acturial assumptions on todays paper.

Altaglusgan Lad wrote: »

do u have an email address for them. or will the feedback sheet which we are to get after tomarrows test enough to get the message across to them?

cassdinfo@gmail.com - for Dublin students.

Should all be on the sheet tomorrow too.

I'm actually the cassd rep, just to declare the interest.

John Cincinnati

what's clear is that th examiner likes examining complicated and less-examined parts of the syllabus. no real testing of leases, no construction contracts, no fair value goodwill, no impairtment (unless it was on Q4 on investment properties), no f/x, no gov grants, no inventory calcs - which were all the complicate parts of the syllabus that i'm sure most people studied a lot.

it's not like i want to be told the exam in advance, it's just that if i study hard or it, i wan't a reasonable chance of passing. there's so little margin fo error, it's not like i'm trying to get good marks.

Hackysack

The more I think about the **** that happened today, the more angry I get. To have two huge, blatant screw ups. It's ridiculous.

I mean people's jobs are on the line FFs!!!!!

figrolls

Whats everybody doing in order to cram for Tax tonight?
The amount of theory seems so daunting, dont know where to start and anytime I look at calculations I get so annoyed with all the mistakes in the solutions...

Ah either way Im going to be back doing them in October at this rate, if I still have my job by then...

Altaglusgan Lad

John Cincinnati wrote: »

what's clear is that th examiner likes examining complicated and less-examined parts of the syllabus. no real testing of leases, no construction contracts, no fair value goodwill, no impairtment (unless it was on Q4 on investment properties), no f/x, no gov grants, no inventory calcs - which were all the complicate parts of the syllabus that i'm sure most people studied a lot.

it's not like i want to be told the exam in advance, it's just that if i study hard or it, i wan't a reasonable chance of passing. there's so little margin fo error, it's not like i'm trying to get good marks.

i agree, tomarrows test will most likley be questions on the smallest parts of the material such as Redisent/OR/Domicile or pre owned asset tax (something crazey like that)

John Cincinnati

what else, no join ventures, no discontinued ops, no disposals of subs. like what do they expect. i don't mind if the every part of the paper they do examine is clear to follow.

like 10 marks to waffle on revenue recognition, then 17 marks on a consolidated B/S and I/S? and then the examiner leaves out all the most examined parts of the syallabus to date and asks some weird eps IAS 33, IAS 19 and IAS 40 question. Why not test people on stuff they practiced in the mock and past papers than trying to examine every minor part of the syllaus.

Vaioer

Anyone got any decent tax questions?

I can't find my toolkit, the ones in the book are too simple and I only have a couple of past papers. Need a bit more practice.

figrolls

Vaioer wrote: »

Anyone got any decent tax questions?

I can't find my toolkit, the ones in the book are too simple and I only have a couple of past papers. Need a bit more practice.

At this stage I'm just doing last years two papers and the three sample papers that we were given

leanne249

Vaioer wrote: »

Anyone got any decent tax questions?

I can't find my toolkit, the ones in the book are too simple and I only have a couple of past papers. Need a bit more practice.

I'll post separate solutions

leanne249

leanne249 wrote: »

I'll post separate solutions

Hope it helps

cuppatae1

Anyone else having problems remembering all the little rules and methods of doing things? Was able to do most things last week but after other exams cant remember a thing. Disaster!
Very awkward when the only closed book exam is last.Could they not just put it 1st and it might help a lot of people? Bloody institute again making it as difficult as possible for students!

R0N BURGUNDY

my brain is pure frazzled. tomorrow is going to make it a white wash for me

leanne249

Vaioer wrote: »

Anyone got any decent tax questions?

I can't find my toolkit, the ones in the book are too simple and I only have a couple of past papers. Need a bit more practice.

Here is more questions including CAT and CGT

Michael 09

A bad paper tomorrow could leave a lot of people staring down the barrel of 4 fails!

susie-q

anyone know how much it costs to sit a repeat? that come out of r pocket doesnt it?

R0N BURGUNDY

depends on your company. i will feel like a total idiot going up and asking for the money. ah well

prinz

susie-q wrote: »

anyone know how much it costs to sit a repeat? that come out of r pocket doesnt it?

€100/£70 per subject IIRC. It's usually the students cost to bear tbh. Don't see many firms stumping up the cash.

noveltea

It cost me €100 to repeat audit last year.My firm reimbursed me after I passed.

susie-q

looks lyk ill be 400 out of pocket so..

Hackysack

They'll also try to sell you some rubbish revision course for an extra 200 euro as well.

Don't do it. They are awful. All of them. I hear the chartered grind school is supposed to be decent though.

JJia

I dont really understand the purpose of this exam! The awful questions in Audit paper, the unrealistic valution question in SFMA, the non-examinable parts in financial reporting, does this examiner from Mars??!!!

r.dunne7

Its quite simple really...

The examiner can pick anything and from anyway and in any detail, therefore students have to study and be familiar with every topic on the syllabus or else risk no knowing something.

I think the exminer was trying to be fair today, from what i heard the CAP 2 finanical acounting this year was a lot lot easier than last years.

The fact that consilidated cash flows came up, revenue recognition and other easish topics came up, this will help amny people to score well.

Its 50% is all u need, and if u pick up marks here and there a lot of people will pass.

THe ICAI always do that they put a hard paper and an easy paper

johns123

have to agree with r dunne there. Cashflows a lot easier than income and balance sheet and they were tipped as hadnt been on in ages. EPS was fine too. If you get through q1 you are practically there. q2 was also very easy to be honest.

Sunny84

johns123have to agree with r dunne there. Cashflows a lot easier than income and balance sheet and they were tipped as hadnt been on in ages. EPS was fine too. If you get through q1 you are practically there. q2 was also very easy to be honest.

Guys no wonder you thought the exam was fine when your lecturer tipped cashflows and gave you the eps question and answer which you could copy in the exam. Most of us had to answer the question ourselves.

It is sad that the difference between a pass and a fail for a lot of people is the ability to copy an answer from a past exam paper.

The part b questions were ok but that doesn't help much when they are only worth 34%.

This is a fail for me. And I am not in any way criticising the people that copied that answer, I am criticising the examiner for not writing his own exams, the lecturers across Ireland for not having some sort of consistency in materials they provide and the institute for letting this happen in the first place.

Spot_the_Dog

Fair tax exam today. Made a complete hames of it and will be very lucky to pass but that was more through sheer exhaustion and cumulative brain-meltage from previous 3 days. No complaints about the paper.

Sofa King Great

Spot_the_Dog wrote: »

Fair tax exam today. Made a complete hames of it and will be very lucky to pass but that was more through sheer exhaustion and cumulative brain-meltage from previous 3 days. No complaints about the paper.

Agreed. While it was a very tough exam I think it will reward people who knew ther stuff. It covered plenty of areas and tested the harder stuff on each. My calculations really let me down.

cuppatae1

Spot_the_Dog wrote: »

cumulative brain-meltage

Nice way of putting it. Fairly accurate 2!

SL10

Yeah I agree- wasn't too bad an exam. I will be lucky to pass it but that is mainly due to me just not knowing enough (had to leave out a few 5 markers cos I just didnt know the theory) and also getting confused with my calcs. But YAY to being finished