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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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ahtfulal

These exams should carry a serious health warning!

ahtfulal

What's dis about 5.30? I take it they changed the elective times dis yr? Last yr it was in morning same as core 10-2.30

Moorstown

That's right, they changed it this year, do you not remember the MOCKS? I wouldn't blame you if you didn't!!!

ahtfulal

Moorstown wrote: »

That's right, they changed it this year, do you not remember the MOCKS? I wouldn't blame you if you didn't!!!

Didn't bother with mocks I'm a core repeater. Pity they didn't change core to afternoon aswell!

Moorstown

Yeah, I agree!!!

DaeryssaOne

the_big_dawg wrote: »

For all those doing tax elective- Whats everyones thoughts on referencing the legislation? Referenced quite a bit in the past papers etc. but surely they can't be expecting us to go hunting for these in exam?

Thought I'd get the CCH red index book, which has been gathering dust from when I got them, but its a bloody nightmare.

Motivation at an all time low...
:mad:

Totally demotivated here as well I think I'm getting worse as the days go on!

In terms of the elective, whoever corrected my mock underlined it any time I mentioned a section, I only wrote it down if it was glaringly obvious from the book but will do it again in the real thing as it seemed to help with getting greens. Wouldn't waste any time looking for them in the actual legislation though, only writing the obvious ones (626b, 400, 617 etc)

the_big_dawg

Moorstown wrote: »

By the way what is this CCH red index book?

Remember those red CCH books we got at the beginning of the year? The last book is the index, which lists everything to do with tax alphabetically and where the provision is located. Wouldn't bother looking at it- waste of time!

ahtfulal

Flicking through those MABF case books makes for a depressing afternoon!

They should be banned!

Cluabu

Any one have the following cases and solutions or know where i can get them?

Kammeb
Ballydeagan Credit union
Sullivans

Cheers

lisa39

These exams have brought a whole new meaning to the phrase 'life is not fair' for me

Wish I did FAE tw years ago.... life is not fair
Wish they asked us questions..... life is not fair
Wish my fate wasn't in the hands of the ICAI..... life is not fair
Wish there was some OBVIOUS structure to the marking system.... life is not fair

I could go on,

WISH I NEVER STARTED THESE BLOODY EXAMs.....

AH rant over :-)

lisa39

Cluabu wrote: »

Any one have the following cases and solutions or know where i can get them?

Kammeb
Ballydeagan Credit union
Sullivans

Cheers

Are they for core?

Vaioer

Vaioer wrote: »

Anyone got Natureflame and Overcoatings? I noted them on someone elses index there, but I can't see them anywhere on my portal.

Anyone?

SL10

Cluabu wrote: »

Any one have the following cases and solutions or know where i can get them?

Kammeb
Ballydeagan Credit union
Sullivans

Cheers

Think the first two are from audit sample paper

Haven't heard of Sullivans

SL10

Vaioer wrote: »

Anyone?

Haven't seen or heard of these cases!

Vaioer

They are from last year as far as I know.

I can see a thread from last year which mentions them, but there is no sign of them.

Cluabu

lisa39 wrote: »

Are they for core?

Audit elective

Where does one get their hands on the audit elective sample paper.

Thanks

eoferrall

Vaioer wrote: »

They are from last year as far as I know.

I can see a thread from last year which mentions them, but there is no sign of them.

They were assignments given out last year and submitted for correction.

querty1234

Oh god... really after hitting the wall today!! Have got NOTHING done!! Everytime i look at something I seem to forget it 10minutes later... Looking over cases I did earlier in the summer and don't remember any of the indicators!

Getting bit stressed and panicky about level of knowledge... know there's not much point tho coz it really it about luck on the day...

Def agree with the statement "life isn't fair"

Cluabu

Cluabu wrote: »

Audit elective

Where does one get their hands on the audit elective sample paper.

Thanks

Got them. Attached for anyone who doesn't have em

Hackysack

Just attempted the Core Comp from last year's exam.

I stopped halfway through due to sheer boredom and the thoughts of actually continuing on with it. Hope i'll be able to muster up motivation in the main exam.

Perkina3

Ha we seem to be all in the same boat. Same happened to me with the 2010 mock comp today....Nasty enuf so it was.

Anyway....Just looked at the 2010 AAA paper and am basically going to ignore that first case cuz it's ridiculous but I have a question on it.

In the Tangent and Interpol case, they say we have to calculation how much dividends they can distribute....Does that not represent an independence issue for us??? I mean are we not being put in a management role by calculating this? I seem to remember another case with a similar problem earlier this summer but can't remember where....

Any thoughts and feed back would be appreciate...Cheers

SL10

Anyone doing the exam in Waterford and know where the exam centre is? Or if there is parking there? I cant find it on the WIT website or google maps!

Perkina3

Cluabu wrote: »

Any one have the following cases and solutions or know where i can get them?

Kammeb
Ballydeagan Credit union
Sullivans

Cheers

I THINK I have these on a memory stick at home somewhere.... I will check tonight and out them up if I do

Hackysack

Perkina3 wrote: »

Ha we seem to be all in the same boat. Same happened to me with the 2010 mock comp today....Nasty enuf so it was.

Anyway....Just looked at the 2010 AAA paper and am basically going to ignore that first case cuz it's ridiculous but I have a question on it.

In the Tangent and Interpol case, they say we have to calculation how much dividends they can distribute....Does that not represent an independence issue for us??? I mean are we not being put in a management role by calculating this? I seem to remember another case with a similar problem earlier this summer but can't remember where....

Any thoughts and feed back would be appreciate...Cheers

I had trouble with the case but SL10 directed me to the relevant page. Check pgs 452 & 453 in the Student Technical Handbook.

It's a legal requirement that companies cannot make distributions outside of their actual profits (1st indicator in that case). When the auditors have issued a qualified report in the previous year, the company cannot make a distribution without 'clearance' from the auditor (regarding the company's ability to actually pay out a distribution) under the Company's Act (which is the second indicator in that case).

We're basically assessing what distribution level the company is able to make without breaching the Company's Act requirements. It's not a management role as we're not telling them what amount to distribute, we're calculating the max amount of profits that they can actually distribute. We're essentially telling the company what options they have but we're not pushing for one in particular.

trixabello

Perkina3 wrote: »

Ha we seem to be all in the same boat. Same happened to me with the 2010 mock comp today....Nasty enuf so it was.

Anyway....Just looked at the 2010 AAA paper and am basically going to ignore that first case cuz it's ridiculous but I have a question on it.

In the Tangent and Interpol case, they say we have to calculation how much dividends they can distribute....Does that not represent an independence issue for us??? I mean are we not being put in a management role by calculating this? I seem to remember another case with a similar problem earlier this summer but can't remember where....

Any thoughts and feed back would be appreciate...Cheers

Its not a management decision, you're just advising them on the legal side of it so that the amount they distribute is not against company law. You just tell them what they can't go over but you don't tell them what they should distribute... Hope that helps, I have never seen exams with such power to depress people!

Cluabu

Perkina3 wrote: »

I THINK I have these on a memory stick at home somewhere.... I will check tonight and out them up if I do

Thanks Perkina3 I got two of them just missing Sullivans. I'm beginning to think it doesn't exist.

Cheers

Student456

Where would I find the Tangent and Interpol case, would anyoneone have a soft copy? Thx!

Cluabu

Student456 wrote: »

Where would I find the Tangent and Interpol case, would anyoneone have a soft copy? Thx!

Its the Mock 2010. Case is called 'Interplant' refers to companies within the case called Tangent and Interpol.

Student456

Cluabu wrote: »

Its the Mock 2010. Case is called 'Interplant' refers to companies within the case called Tangent and Interpol.

Is this on the notes page? Can't seem to find it!

Stey_9

Cluabu wrote: »

Thanks Perkina3 I got two of them just missing Sullivans. I'm beginning to think it doesn't exist.

Cheers

Here you go. Have fun:)