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FAE 2011 Where to begin

FAE_UCH

Hello all,

This thread may be a little premature but after that disaster of a paper on Saturday, I figure i better start doing a bit now while i'm still slightly in study mode. I did a masters so i feel at a huge disadvantage as i did not have to come through CAP 2. Is there any point in me now going back and trying to look at CAP2 material or would that be much too technical for this.

Does anyone know what the best plan of attack to study this? I'd love to hear past Faer's advice, or people who have a plan to share it with us.

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tinac_b

Lowrey wrote: »

...

Thanks Lowrey, its not on institute website.

SL10

ahtfulal wrote: »

Where can I find this question? Thanks

Black & White case is in the strategy toolkit I think

ahtfulal wrote: »

Also still looking for Second String Case (have solution) and Flexum Solution (have case) if anyone could put these up. Cheers.

Sorry I dont have Second String in soft copy anywhere. I dont think the Flexum solution has been released by the institute yet. Was just on the student site and there is a new case I havent seen before called petrov. I've attached it here if people are looking for it.

tinac_b

ahtfulal wrote: »

Also still looking for Second String Case (have solution) and Flexum Solution (have case) if anyone could put these up. Cheers.

Here is the Second string case, can you put up Flexum case?
Thanks

SL10

Hi Guys,

In the AAE lecture 5&6 Sean Murray mentions giving out a related party note and question for ISA 550 related parties. Does anyone have this note and question? Its not on my student page as I think I had someone else for that lecture.

Thanks

FAE2011

Hi how can i access these sample papers? Is there a link?

ahtfulal

tinac_b wrote: »

Here is the Second string case, can you put up Flexum case?
Thanks

Flexum Case attached, thanks for Second String and new case

the_big_dawg

Hello all,

In our Mock Review Paul Monaghen suggested bringing in a set of accounts for a plc with related party/going concern/provision issues as he thinks we may be required to draft a disclosure note.

Anybody got any good examples of these? Small firm & no access to these.

Thanks

premiergal

Hello all,

In our Mock Review Paul Monaghen suggested bringing in a set of accounts for a plc with related party/going concern/provision issues as he thinks we may be required to draft a disclosure note.

Anybody got any good examples of these? Small firm & no access to these.

Thanks

Hi I'm in same boat in a small firm was thinking of bringing CRH accounts. I think some lecturer mentioned these accounts were quite good open to correction on this though!
Hope that helps

Why????

Does anyone have following answers:

Flexum
Perfetto?????????

Thanks

the_big_dawg

premiergal wrote: »

Hi I'm in same boat in a small firm was thinking of bringing CRH accounts. I think some lecturer mentioned these accounts were quite good open to correction on this though!
Hope that helps

Yeah I remember he mentioned a particular company but couldn't remember their name. CRH now rings a bell!

Thanks

Why????

can anyone provide a link to accounts with notes???

tinac_b

Why???? wrote: »

Does anyone have following answers:

Flexum
Perfetto?????????

Thanks

Don't think the answers for Flexum are out yet, what's Perfetto about? never heard of it.

Does anyone have solution to Karglassco - the marketing case study?

Thanks

tinac_b

ahtfulal wrote: »

Flexum Case attached, thanks for Second String and new case

Thanks

Rickyroma

tinac_b wrote: »

Don't think the answers for Flexum are out yet, what's Perfetto about? never heard of it.

Does anyone have solution to Karglassco - the marketing case study?

Thanks

Karglasso not posted yet - due to be posted within next few days afaik.

ahtfulal

Why???? wrote: »

can anyone provide a link to accounts with notes???

CRH link

http://www.crh.ie/our-responsibility/csr-report.aspx

ahtfulal

Paddy Power plc annual report link

http://www.paddypowerplc.com/

premiergal

CRH 2010 annual report link.

http://www.crh.ie/~/media/Files/C/CRH/pdf/reports-presentations/financial-reports/2010/ar-2010.pdf?

Quick question on management accounting what do people make of the cases in the book. I'm struggling to get anywhere with them do you think they're worthwhile?

MW2011

premiergal wrote: »

CRH 2010 annual report link.

http://www.crh.ie/~/media/Files/C/CRH/pdf/reports-presentations/financial-reports/2010/ar-2010.pdf?

Quick question on management accounting what do people make of the cases in the book. I'm struggling to get anywhere with them do you think they're worthwhile?

I was told by a lecturer that the management accounting book is far too technical

MW2011

I as looking at the audit elective mock solution and the companies act is referenced for the indicator on the Directors Remuneration.

Do people know what other areas of the Companies Act we are expected to know. Realistically I am not going to go learning all 200 pages of it now.

Was it covered in lectures this year?

Thanks

premiergal

I was told by a lecturer that the management accounting book is far too technical

Thanks for that I was getting lost in it earlier think I'll just practice past exam papers and case studies for this from now on.
I don't think I have notes on the Company's Act I'll check and post them here if I do.

Spoofer123

Hello All,

Did anyone else find the indicators in this particular case difficult to find? While I thought it was no problems identifying potential issues within the case, it was just difficult to know how to address them by way of indicators.

Also, in the solution for indicator #2, does anyone know where the figure of €1.7m required to invest in additional stock was gotten from?

Bec_Boop

Hi just wondering if anyone else doing the auditing elective knows where I can find the following documents (they are all listed on the competency statement as examinable but I can't find them in any of our books)...

ISAE 3000R
ISAE 3400
ISRE 2400

Thanks!

ahtfulal

Not long to go now.

Anyone else think a lot of the sample cases are pretty tough to say the least? That Metro Water was a bit fat fetched I thought - 90 minutes my ass, I spent all morning going through that one.

The ones in the Resource pack and mock papers are a far better reflection of what to expect in the exam.

Think Paul Monahan spends way to much time writing cases IMO.

okdune

Hey everyone - hope everyone is getting on ok. Just wondering has anyone heard of a case study called David Doogood? And if so, would you please be able to put? Thanks!

Anyone else feel like they're living in the twilight zone!!??

okdune

Oh and one other thing.

Way back in the thread someone mentioned that there are 14 'reliefs'' in tax. I have covered all the tax and find that luckily in the case studies its usuallly the most straightforward indicator and indicator to answer.

But just to check that I have all 14 covered (I can't identify all of them) - would anyone have a list they could just copy and past on the thread?

Thanks so much - for once tax isn't so bad and for that reason just wanna make sure I am comfortable that I've covered most of it.

Thanks so much in advance if anyone could do that. We return the favour!

Vaioer

I did that one myself today,attempted to do it in 90 minutes this morning.

My indicators
-Accounting for the transaction, I didn't agree with their approach(though I can see it). I also mentioned corp governance issues about limits for the sale of assets(no mention in theirs). I had this as a separate document, as it was going to a separate person, no mention of that in theirs

- The Strategic(agreed, though I would say theirs is more a vision than objectives)

- Performance Metrics(agreed)

- Accounting Policies. WTF? Writing draft accounting policies?
I would never have had IAS 11 or IFRS 3 in there. I went with IAS 1, IAS7, IAS 16, IAS 18 as critical and then IAS 19/32/39 with the pension implications, then said that these were only a selection of the standards that need to be considered.

They have no-body, bar you, who has ever prepared accounts under IFRS in the company, and yet there is absolutely no mention of a skills gap anywhere? Surely this is a massive issue, who/how are the accounts going to be physically prepapred

- HR: Didn't mention the staffing levels, did say it was inappropriate for SPSC.

Headwrecking to bust your balls for 90 minutes to do a case, then read the solution to find you are nowhere near the level/never anticipated an indicator like what came out.

okdune

Vaioer wrote: »

I did that one myself today,attempted to do it in 90 minutes this morning.

My indicators
-Accounting for the transaction, I didn't agree with their approach(though I can see it). I also mentioned corp governance issues about limits for the sale of assets(no mention in theirs). I had this as a separate document, as it was going to a separate person, no mention of that in theirs

- The Strategic(agreed, though I would say theirs is more a vision than objectives)

- Performance Metrics(agreed)

- Accounting Policies. WTF? Writing draft accounting policies?
I would never have had IAS 11 or IFRS 3 in there. I went with IAS 1, IAS7, IAS 16, IAS 18 as critical and then IAS 19/32/39 with the pension implications, then said that these were only a selection of the standards that need to be considered.

They have no-body, bar you, who has ever prepared accounts under IFRS in the company, and yet there is absolutely no mention of a skills gap anywhere? Surely this is a massive issue, who/how are the accounts going to be physically prepapred

- HR: Didn't mention the staffing levels, did say it was inappropriate for SPSC.

Headwrecking to bust your balls for 90 minutes to do a case, then read the solution to find you are nowhere near the level/never anticipated an indicator like what came out.

Do you mean David Doogood - Do you have a copy of the Q and S I cannot find it anywhere? Thanks!

Vaioer

No, I was referring to Metro Water

ManwitaPlan

Im at the stage now where for a lot of indicators I am actively trying to guess what I need for compenent and trying to cover as many angles as possible.

Its frustrating that for almost every indicator you can do what is needed to get competent but its just guessing what they want.

I find what is required to get competent is often pretty generic and it seems would be pretty hard to guess what their looking for.

Perkina3

Yeah I have to agree, like I am sitting at my desk for 10/11 hours but only working for bout 8 of those hours...I find it very hard to focus in the morning and have already wasted half an hour this morning procastinating on this yoke....

Also I dunno if ppl are noticing this but some of the groups have had way more questions uploaded than others. I have found that friends of mine in different groups have a rake of questions which I don't have and which were not uploaded... Think it's a bit of a cop out if I am honest...

Oh yeah dunno if anyone noticed it either but I would get used to the idea of possibly having an indicator in the elective where you need to review a piece of work and make recommendations and state what additional work is needed...I have found that this has a nasty habit of appearing an awful lot in most of the recently produced elective questions. Just said I would say this and let ppl know if they hadn't copped it already.