CAP 2 Exams 2012

EDudder · 29-06-2012 03:36PM

I would have much preferred a consolidated cash flow to be honest. Maybe that's just personal preference. They sound really scary, but once you do one or two practice q's they're really a lot more straight forward that consol sofp/soci/soce, especially if they're throwing in two subs and foreign exchange.

swn · 29-06-2012 03:40PM

EDudder wrote: »

I would have much preferred a consolidated cash flow to be honest. Maybe that's just personal preference. They sound really scary, but once you do one or two practice q's they're really a lot more straight forward that consol sofp/soci/soce, especially if they're throwing in two subs and foreign exchange.

Ha maybe, I just didn't spend any time on them.

muzzyizzet · 29-06-2012 03:43PM

Was really hoping and fx consol wouldn't come up, think I would almost have preferred disposal of a subsidiary.

How many marks would be going for workings in q1? Had to really rush through the financial statements so definitely made mistakes but I was happy enough with my workings.

apeking · 29-06-2012 03:44PM

Thought the paper was fair enough, lucky to get the ratios.

I started Q2 first, then did Q3 but i messed up some ratios so that took too long.

My consolidation was a disaster, I could hardly read it after, just threw in any number even if it was wrong......

I'll be back as a man once said

Glad it is all over, wish the results were out sooner so you knew the damage

Anerak · 29-06-2012 04:10PM

I think i would rather a cashflow to as u say generally once u have done a few they are all the same.
Oh well all over now

srm23 · 29-06-2012 11:51PM

to be honest i couldnt believe my eyes when i saw financial performance question, i didnt do too much for FR, is that on its syllabus?
didnt have the sfma notes so had no ratios.

luckily decided to do the section b first cos im sure i would have spent too much time trying to get everything right on q1.

i did the small sofp & the follow up question in full, but did half the financial performance q & said better get to q1, got as far as the soce, then said better conclude q3 & get the q1 b&c. delighted the b & c were obvious enough usually i havent a clue on the ethics in FR.

do you think the ratios are very important? i talked about sales, profit, gearing, equity/possible effects for dividends & the importance of doing due diligence when investing in the co. then said to invest in Green cos it will be cheaper & has steady growth & more profit. sure only need 10 in it & 2 were for presentation!

i went in thinking id 100% fail FR cos id concentrated on sfma & work in audit so quite happy coming out of today even feeling like ive a chance of passing! the solution pack for autumn 11 from the charted grind school was good guide through the consol

EDudder · 30-06-2012 12:58AM

Thinking back it's really obvious that they put in the financial performance q in question B because Q1 was so tough.

Really annoyed I didn't start with section B, but I had really wanted to get stuck into the consol.

mikofe · 30-06-2012 01:18AM

srm23 wrote: »

to be honest i couldnt believe my eyes when i saw financial performance question, i didnt do too much for FR, is that on its syllabus?
didnt have the sfma notes so had no ratios.

luckily decided to do the section b first cos im sure i would have spent too much time trying to get everything right on q1.

i did the small sofp & the follow up question in full, but did half the financial performance q & said better get to q1, got as far as the soce, then said better conclude q3 & get the q1 b&c. delighted the b & c were obvious enough usually i havent a clue on the ethics in FR.

do you think the ratios are very important? i talked about sales, profit, gearing, equity/possible effects for dividends & the importance of doing due diligence when investing in the co. then said to invest in Green cos it will be cheaper & has steady growth & more profit. sure only need 10 in it & 2 were for presentation!

i went in thinking id 100% fail FR cos id concentrated on sfma & work in audit so quite happy coming out of today even feeling like ive a chance of passing! the solution pack for autumn 11 from the charted grind school was good guide through the consol

I'm the complete opposite. I was more confident with FR than any of the rest by far just because I had done so much on it, and today was a kick in the teeth.

I concentrated on Q1 and ended up leaving out a question on part B.

On top of that, when I seen the preference shares bought in Q1 it really threw me off. In the loads of past paper Qs etc I had done I had only ever came across the parent buying OSC, so wasn't sure how it affected control. I ended up working it out as a 47% associate which looking back will come across as a fundamental lack of understanding to the marker. I think thats really unfair though. Going through the text books etc during the exam I still couldn't find an example where preference shares were bought. But maybe I'm just feeling hard done by. But it definitely feels unfair that that one mistake will no doubt cost me more than just a few marks because after that everything else is wrong.

If it was an exam for any other institute I wouldn't be as worried because any other organisation won't punish you more than once for making the same mistake, but I just know that they will.

srm23 · 30-06-2012 01:30AM

mikofe wrote: »

=

On top of that, when I seen the preference shares bought in Q1 it really threw me off. In the loads of past paper Qs etc I had done I had only ever came across the parent buying OSC,

there were pref shares in subsid. in Q1 autumn '11

autumn 11 was the exact same structure wise except for the fx translation.
that was annoying as took so long dividing every figure by /1.2 or whatever then the others by 10/12.
ridiculous having to do both, i was running out of time & involved in a primary school maths activity wasting my time away

mikofe · 30-06-2012 02:20AM

Ahh that makes me even more annoyed with myself. Purposefully put off doing the most recent past paper unless I ran out of questions because I thought stuff rarely comes up twice in a row.

I looked at it too and automatically thought - that's 60% ownership. But doubted myself thinking there wouldn't be 2 subs so changed it.

Shane732 · 30-06-2012 07:40AM

srm23 wrote: »

there were pref shares in subsid. in Q1 autumn '11

autumn 11 was the exact same structure wise except for the fx translation.
that was annoying as took so long dividing every figure by /1.2 or whatever then the others by 10/12.
ridiculous having to do both, i was running out of time & involved in a primary school maths activity wasting my time away

Who was your lecturer for FR? Margaret Darcy had covered the topic in good detail and had also covered the FX in good detail. Unfortunately there aren't a lot of FX questions to prepare with so that was a bit of a pain.

It was brilliant having to divide every figure! Time spent dividing means there was marks for it!

Shane732 · 30-06-2012 07:43AM

srm23 wrote: »

to be honest i couldnt believe my eyes when i saw financial performance question, i didnt do too much for FR, is that on its syllabus?
didnt have the sfma notes so had no ratios.

luckily decided to do the section b first cos im sure i would have spent too much time trying to get everything right on q1.

i did the small sofp & the follow up question in full, but did half the financial performance q & said better get to q1, got as far as the soce, then said better conclude q3 & get the q1 b&c. delighted the b & c were obvious enough usually i havent a clue on the ethics in FR.

do you think the ratios are very important? i talked about sales, profit, gearing, equity/possible effects for dividends & the importance of doing due diligence when investing in the co. then said to invest in Green cos it will be cheaper & has steady growth & more profit. sure only need 10 in it & 2 were for presentation!

i went in thinking id 100% fail FR cos id concentrated on sfma & work in audit so quite happy coming out of today even feeling like ive a chance of passing! the solution pack for autumn 11 from the charted grind school was good guide through the consol

Yup Financial Ratio's is a on the syllabus. There's a past question on it. So if you had your past papers with you the ratios where there.

I think the majority of the marks will be for ratios. However, having said that I think the question ask you to comment on the financial performance of the company, so once you commented on the financial performance of the company accurately then you'll pick up marks.

The Big Red Button · 30-06-2012 09:25AM

I actually had the ACCA FR text with me, so I used that for the ratios question, and had the question from that past paper open too, so that I didn't leave anything out!

mikofe · 30-06-2012 06:31PM

Shane732 wrote: »

Yup Financial Ratio's is a on the syllabus. There's a past question on it. So if you had your past papers with you the ratios where there.

I think the majority of the marks will be for ratios. However, having said that I think the question ask you to comment on the financial performance of the company, so once you commented on the financial performance of the company accurately then you'll pick up marks.

I would disagree to be honest. I've heard several times that at CAP 2 level, especially with open book theres going to be very little marks available for calculating ratios unfortunately. I'd say a lot of it would be down to the interpretation.

You're in a better position that me though, I didn't have time to even start the question

Wheresmycoffee · 08-08-2012 09:19PM

With alot of my friends getting their exam results today for ACCA I could feel the dread stirring in my stomach.

Results in 9 days! Im not looking forward to it.

I changed from practice last year to industry and was only given the days of the exam off, I accepted that because
(a) I had no choice, and
(b) the job I got was a massive opportunity in a start up company.

The end result was I failed the exams, working crazy hours and the motivation for study just was not there.

I registered for the autumn repeats but was scheduled to go to our head office abroad for training the week of the exams so that went out the window.

So 3rd time lucky! or maybe not so lucky....
I sat all 4 CAP2 exams. Tax, A&A, and SFMA I only managed to answer 80% of each paper, I can only hope I at least passed 1, and for FR I know I failed that I wouldve been more productive if I stayed in bed that morning!

Heres hoping everyone did well and passed all or some.... either way it'll be straight to the pub!

Good luck

The Big Red Button · 08-08-2012 09:24PM

I sat FR and Tax this time.

Meah, I'm not worried. I don't think I passed, but what's done is done, the results are already uploaded on a computer somewhere, worrying at this stage isn't going to change a thing.

Wheresmycoffee · 16-08-2012 08:29AM

Best of luck to everyone tomorrow!

Wheresmycoffee · 16-08-2012 01:50PM

Just a note to anyone who already was a repeat student and thinks they might be repeating again. I only had the old 2011 notes, when you repeat you never have access to the current year stuff.

I just logged onto my student center this morning and they have all CAP1 CAP2 notes and question banks available including those for the revision courses

Needless to say I have downloaded everything just incase I was missing something.

Im not sure if the institute meant to put them up, if they didnt then defo download it before they take them down again!

edit: (I was changed to elevation in June so they might only be available to elevation students)

apeking · 17-08-2012 06:52AM

Results are up, failed Audit but passed the other 3.

Delighted tbh

Hope everyone else is happy

new_accountant · 17-08-2012 07:12AM

I failed Financial Reporting but passed the other 3 which given my lack of study I am happy with, are they posting a summary report?

Wheresmycoffee · 17-08-2012 07:20AM

Failed all 4... I thought I would've at least passed 1 exam. The actual results themselves are worse than before. Does anyone have the stats from last year? I'd like to compare them to this year

Wheresmycoffee · 17-08-2012 07:21AM

new_accountant wrote: »

I failed Financial Reporting but passed the other 3 which given my lack of study I am happy with, are they posting a summary report?

Summary of stats is there for this year
http://www.charteredaccountants.ie/Global/examdocs/CAP2%20exam%20info/CAP2%20Summer%202012%20published%20statistics%2017th%20August%202012.pdf

new_accountant · 17-08-2012 07:27AM

Wheresmycoffee wrote: »

Summary of stats is there for this year
http://www.charteredaccountants.ie/Global/examdocs/CAP2%20exam%20info/CAP2%20Summer%202012%20published%20statistics%2017th%20August%202012.pdf

Thanks.

ted2767 · 17-08-2012 07:34AM

Very best of luck to all today.
Passed all 4 by the skin of my teeth.
Highest 51 and 3 50's

new_accountant · 17-08-2012 07:56AM

ted2767 wrote: »

Very best of luck to all today.
Passed all 4 by the skin of my teeth.
Highest 51 and 3 50's

Well done, I would say they are perfect marks!!

reo49 · 17-08-2012 09:57AM

new_accountant wrote: »

Well done, I would say they are perfect marks!!

Or he/she really got 30% but beacause the majority of the rest of people did worse then the curve kicked in and they got bumped up to 50%.

new_accountant · 17-08-2012 10:00AM

reo49 wrote: »

Or he/she really got 30% but beacause the majority of the rest of people did worse then the curve kicked in and they got bumped up to 50%.

Well, they passed so that's all that matters......

reo49 · 17-08-2012 10:03AM

new_accountant wrote: »

Well, they passed so that's all that matters......

They can thank the rest of the students for doing worse than them.

apeking · 17-08-2012 10:06AM

reo49 wrote: »

They can thank the rest of the students for doing worse than them.

Wouldn't agree. The average mark in the exams is 45-55. Lucky just to be the right side

bikeman1 · 17-08-2012 10:08AM

Failed Financial Reporting which I'm not too surprised about. 50 in tax and Audit and 55 in SFMA. Just dreading the thought of having to do that paper again.

Does anyone else think it's a bit unfair that 47% of us sat FR failed? I would even say that some people were bumped up to pass at that. Why have a paper that only half of the students can pass and only barely at that.

Hopefully the Autumn paper will be a lot fairer.

CAP 2 Exams 2012

Comments