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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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lisa39

limklass2011 wrote: »

I think a well earned glass of wine will go down a treat tonight..

If I had a glass..... I'd drink the bottle!

ahtfulal

lisa39 wrote: »

limklass2011 wrote: »

I think a well earned glass of wine will go down a treat tonight..

If I had a glass..... I'd drink the bottle!

If I had a bottle I'd start a riot!

Colts

lisa39 wrote: »

limklass2011 wrote: »

I think a well earned glass of wine will go down a treat tonight..

If I had a glass..... I'd drink the bottle!

Just use a really big glass, then it's still just 'a glass'!

limklass2011

ahtfulal wrote: »

If I had a bottle I'd start a riot!

Haha we can trash the ICAI building first...on a seperate and boring note..does anyone have part 2 of the BGoode Ethics and Corp Gov question..theres a good few ethical topics within that q that I would be unsure as to how to respond properly..

CapallBan

Colts wrote: »

Just use a really big glass, then it's still just 'a glass'!

i'd drink it out of a wellie at this stage!

ahtfulal

RobFitzBDF2005 wrote: »

hi guys,

im sit exams on tuesday haven't done much yet, where u think i should start?

thanks guys.

Plenty of time yet my friend, you just sit tight and don't panic. Your probably in not much worse a position dan those who have been studying for wks! Have a good flick through all the cases to give you an idea of what's expected. It really all boils down to how you react on the day!

Stey_9

limklass2011 wrote: »

Haha we can trash the ICAI building first...on a seperate and boring note..does anyone have part 2 of the BGoode Ethics and Corp Gov question..theres a good few ethical topics within that q that I would be unsure as to how to respond properly..

I emailed the institute re this and was told that there was no answer to part 2 as Ethics is a Grey area...They are clowns...Do you reckon we could use that ans for next week?

mgsrocks

Madeline M wrote: »

To value one share in a company using the P/E ratio => EPS *P/E ratio

In calculating the earnings figure for EPS you use earnings attributable to ordinary shareholders i.e. earnings after preference dividends, tax and interest

So to value an entire company => (EPS* no. of shares) * P/E ratio i.e. Earnings * P/E ratio

...... so to answer ur question - I'd always use P/E ratio * earnings after preference dividends, tax and interest

The GlobalTech solution uses a multiple of EBITA to value an unquoted company even though it give the P/E ratio and profit after tax. Any ideas? These case studies are doing my head in!

SL10

mgsrocks wrote: »

The GlobalTech solution uses a multiple of EBITA to value an unquoted company even though it give the P/E ratio and profit after tax. Any ideas? These case studies are doing my head in!

I think in this case you can either do the EBITDA or the P/E calculation. I dont think you would be penalised for doing the P/E one

limklass2011

Stey_9 wrote: »

I emailed the institute re this and was told that there was no answer to part 2 as Ethics is a Grey area...They are clowns...Do you reckon we could use that ans for next week?

Thanks...ah well jus another area where I will just have to wing it on the day.
Thanks for the response

ahtfulal

Is everyone gonna use that standard executive report layout that seems to be in most solutions and in the old multi d papers?

Also old multi d papers are very good for strategy, it, financial analysis and kpi revision.

RobFitzBDF2005

@ahtfulal: thanks for that.

@LukeyFitz: you'll come back from this pal, stay strong.

Nidot

RobFitzBDF2005 wrote: »

hi guys,

im sit exams on tuesday haven't done much yet, where u think i should start?

thanks guys.

For some reason my bullsh*t detector went off the scale when i read this, i wonder why?

Susie.Q

Really screwed when it comes to deferred tax.. can anyone give me key points on where to look out for deferred tax in case studies.. please and thanks

Student456

okdune wrote: »

Have you done the Flexum question - try that at least it gives you a layout to follow should it come up. Although it says in the solutions that the sentences with * are the key sentences they are looking for - I claerly would have failed it. Wayyy too specific.

Just went through the question! Would defo's have failed also!! If pricing comes up I'm screwed!

Is there any notes on pricing in the books? I don't even know where to start with looking at this!

The sooner Thursday comes the better I think!

ahtfulal

At least with them sort of pricing questions ya can make some sort of a stab at it and it's finance so ya can always redeem urself by answering other finance areas well like valuations or financial analysis of company.

It's spotting the business leadership indicators I'd be more concerned about and also the shock of dealing with a nasty financial reporting issue.

querty1234

Any chance someone can post flexum question & solution up? Please and thanks.. Also need to do some work on pricing!

Student456

ahtfulal wrote: »

At least with them sort of pricing questions ya can make some sort of a stab at it and it's finance so ya can always redeem urself by answering other finance areas well like valuations or financial analysis of company.

It's spotting the business leadership indicators I'd be more concerned about and also the shock of dealing with a nasty financial reporting issue.

Ya thats true! Thx!

Here's hoping they'll be nice to us this year! (wishful thinking i'd say

)

Vaioer

Susie.Q wrote: »

Really screwed when it comes to deferred tax.. can anyone give me key points on where to look out for deferred tax in case studies.. please and thanks

Don't worry that much about it, about an hour in CGS sorted me on it.

If something is revalued up or down, then you have deferred tax issue as the value no longers equals the tax written down value.

Half the case studies have fair value adjustments for consolidation which never even mentioned the deferred tax implication.

limklass2011

Susie.Q wrote: »

Really screwed when it comes to deferred tax.. can anyone give me key points on where to look out for deferred tax in case studies.. please and thanks

I think O'Reilly Mortgages was a handy case for the deferred tax issues if wanted to have a look that too.

Student456

querty1234 wrote: »

Any chance someone can post flexum question & solution up? Please and thanks.. Also need to do some work on pricing!

Its up on page 67 of this thread!

Also haven't a clue when it comes to pricing! Don't know where to start!

ahtfulal

Oh how I'll eat my shorts if i don't find these indicators!

I think some of the sample cases require a search warrant to help find them!

SL10

Im petrified of missing BL and PM indicators

What I learned today- Onerous contracts can be an indirect PM indicator! 2nd time doing the stupid case study and I still manage to miss indicators!

ahtfulal

I'll be adding in my own indicators if I feel I haven't enough, bits of strategy and change management and some budgeting sure what are they gonna do arrest me? Beat them at their own game I say!

upnorthchick

RobFitzBDF2005 wrote: »

hi guys,

im sit exams on tuesday haven't done much yet, where u think i should start?

thanks guys.

Bull****!! what you been doing on study leave? playing golf - u prune!

Susie.Q

Vaioer wrote: »

If something is revalued up or down, then you have deferred tax issue as the value no longers equals the tax written down value.

That makes it sound much easier.. thanks

upnorthchick

Susie.Q wrote: »

That makes it sound much easier.. thanks

Remember also abt pension contributions - these need to be actual payments in the year... no accruals allowed.

Moorstown

Does anyone have a spreadsheet for RATIOS and for TAX ELECTIVE, has anyone done a summary with rates and bands etc...Thanks in advance.

Rickyroma

Moorstown wrote: »

Does anyone have a spreadsheet for RATIOS and for TAX ELECTIVE, has anyone done a summary with rates and bands etc...Thanks in advance.

Summary rates and bands attached

acahopeful

okdune wrote: »

Have you done the Flexum question - try that at least it gives you a layout to follow should it come up. Although it says in the solutions that the sentences with * are the key sentences they are looking for - I claerly would have failed it. Wayyy too specific.

There are no * in the solution I have so I don't know what the key sentences are... Am I missing something completely?