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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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SL10

Slim Shady1 wrote: »

Was lookin at this yrs core comp mock. Does Any1 else think ther shud b an indicator on identifying the audit risks.... seems weird its not in solution

It is in the solution- I just looked at it there. Its the last indicator

epm84

lisa39 wrote: »

Hey,

Saw a few pages back there someone saying the pricing was a finance indicator.... was pretty sure it would be a management indicator?! Like for PM?

What do people think?

In Versatile Imaging (2010 Mock Sim) it's a business leadership indicator under marketing. Looks like it's just what comes into their heads first! :rolleyes:

eoferrall

SL10 wrote: »

Hey guys,

Just wondering for AAE how much work are people doing on the ISRE's and ISAE's?

I'm a bit confused over these- for instance when are they used? Does anyone have a practicable example? I dont think I have come across any questions on them in the case studies.

Thanks

Used for a review engagement rather than an audit engagement. less strenuous requirements and less evidence required. More reliance on AR's allowed etc

Vaioer

epm84 wrote: »

In Versatile Imaging (2010 Mock Sim) it's a business leadership indicator under marketing. Looks like it's just what comes into their heads first! :rolleyes:

That one is a complete ridiculous indicator.

Absolute no mention of the idea that the screens could be under warranty and the resultant IAS37 implications.

Moorstown

Do you know what would be great now? A game of tag. Any thoughts?

Nidot

Looks like Bernard Brogan has a few other things on his mind other than the FAEs anyway.

Wonder how he feels about the exam on Tuesday?

ahtfulal

This boy is cracking up
This boy has broken down

querty1234

I have officially given up.. dont think I could possibly study any more of this lovely material!!

Think i'l jst worry bout tabbing books and folders for next two days and hope for a miracle come Tuesday...

Best of luck to all though!!:)

limklass2011

querty1234 wrote: »

I have officially given up.. dont think I could possibly study any more of this lovely material!!

Think i'l jst worry bout tabbing books and folders for next two days and hope for a miracle come Tuesday...

Best of luck to all though!!:)

Thats exactly what im doin..ive couple of case studies that im gonna flick through then get to know whats in my folders for sure..itl kill me if theres something that comes up thats in my folder that ive completely forgotten about.

Alorra

I think i would have perferred to have been studying than watch that game. okay maybe not... Now off to sit at my desk and hope that means i do work.

silverwatch

limklass2011 wrote: »

Thats exactly what im doin..ive couple of case studies that im gonna flick through then get to know whats in my folders for sure..itl kill me if theres something that comes up thats in my folder that ive completely forgotten about.

Same as, that's exactly what I'm doing too, tabbing and organising and giving my brain some much needed rest rest rest!!

acahopeful

Hi, can anyone help me in relation to Indigo plc. How did they calculate the pv of the Licence. Licence cost is 1milllion a year and PV IS 8,333,333??? Tired and frustrated

limklass2011

acahopeful wrote: »

Hi, can anyone help me in relation to Indigo plc. How did they calculate the pv of the Licence. Licence cost is 1milllion a year and PV IS 8,333,333??? Tired and frustrated

If u look at post #444 on page 30 of this thread, it was discussed @ it seems that this is an assumption of a discount factor of 12%..mad I know

Why????

Hey all can't seem to get motivated at this stage! head is splitting.

Can anyone help me with something...for audit core.

I haven't opened the new APB book I received because i have my old one all tabbed and highlighted. Just wondering with the revision of some of the standards this year is there any major changes I need to know without reading through the whole standard or will my knowledge on the standards from last year be enough?? Can't bring myself at this stage to start looking at how they've changed. Enough things to be doing! Hate when things have changed!!!

We're on the home run now!!!!!

We will finally get our lives back on thurs! Longest summer of my life!!!!

acahopeful

limklass2011 wrote: »

If u look at post #444 on page 30 of this thread, it was discussed @ it seems that this is an assumption of a discount factor of 12%..mad I know

Thanks but wouldn't that mean its 833k not 8.3million? any info would be great, thanks

limklass2011

acahopeful wrote: »

Thanks but wouldn't that mean its 833k not 8.3million? any info would be great, thanks

It says in solution that it assumes a perpetuity formula so then cashflow (1000) / rate (assuming 12%) will give u then 8.333m...hope that helps.

netpia11

Hi Does anyone have an Index made up for Derry Cotter book??? would be really appreciated!!

ahtfulal

netpia11 wrote: »

Hi Does anyone have an Index made up for Derry Cotter book??? would be really appreciated!!

I know that book is great but all over the place so hard to find things!

DaeryssaOne

ahtfulal wrote: »

I know that book is great but all over the place so hard to find things!

The index at the back of the book isn't too bad to follow, just handwrote into my notes anything that could be extra useful...

acahopeful

Hi, does anyone have a detailed index of all the case studies? If not, no worries

ahtfulal

acahopeful wrote: »

Hi, does anyone have a detailed index of all the case studies? If not, no worries

I'm nearly sure there was one put up here a couple of wks back, just have a flick through the attachments and ya should find it.

tt0717

Think the panic attack is hitting me!! Feeling so nervos about it right now, hope I will be able to stay calmer on the day!:eek:

ahtfulal

tt0717 wrote: »

Think the panic attack is hitting me!! Feeling so nervos about it right now, hope I will be able to stay calmer on the day!:eek:

You'll be ok don't be worrying, once we find da indicators we'll be off and running!

Colts

Think I'm just going to follow the lead of others and just finish up tabbing and quickly reading over some short notes tomorrow. Just can't wait for Thursday evening now!

Student456

Is it just me or did anyone else do absolutely nothing today?! Can't concentrate at all and getting easily distracted!

Feel like I wasted the day! Cannot wait for Thursday!!

tt0717

Yeah couldnt do much today either feel like cant get anymore stuff in the head its full. Going to take it easy tomorrow and familiarise myself with the folders as advised by others...

Think it is important to rest well these few nights too so that we will be able to stay focused on the day as 4 and a half hour is long...

Colts

Student456 wrote: »

Is it just me or did anyone else do absolutely nothing today?! Can't concentrate at all and getting easily distracted!

Feel like I wasted the day! Cannot wait for Thursday!!

I wouldn't worry about it, I doubt there's too much to learn at this late stage, just final preparations for most i'd imagine.

Too much sport on today to concentrate on study anyway

trixabello

Last day, best of luck to everyone tomorrow, nearly there now!

trixabello

Last day, best of luck to everyone tomorrow, nearly there now!

ahtfulal

Torture almost over, best of luck to all!