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Cap 2 SFMA Assessment Study Group
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Right done with audit now till next Tuesday.
Haven't done half as much audit study as other subjects but passed the mocks with no study and have 11.25% from CA so hopefully be ok on the day.
I have tabbed everything and know where all the past paper answers are. Hopefully common sense should get me the rest of the way. Famous last words....
Anyone else kinda taking this approach to audit?
Today is my last day for audit too
anyone got a quick cure for a head cold 
need to get rid of it before next week:) that Financial statements is 300 pgs I downloaded green core I wonder would they be ok 0 -
autumnbelle wrote: »Today is my last day for audit too anyone got a quick cure for a head cold need to get rid of it before next week:) that Financial statements is 300 pgs I downloaded green core I wonder would they be ok
Whiskey- all though it might be worth saving that for use after the exams
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littlemiss123 wrote: »I just went through all the CA papers and seperated my folder into revenue, inventory, payables etc with all the relevant questions. Then I went through internal controls and the audit report and other completion procedures. That's it!
Thanks Littlemiss123, that is actually very reassuring because that is exactly what I am doing. My issue is when I am looking back at the past exam papers, I am mis-understanding what they are asking me half the time! Just hope that the wording is clear on the day Eeek!!!
Just a tip that was passed on to me during the week, Appendix A and Appendix B in the Nolan book give a summary of the standards examinable and also all the exam questions divided out by each area, so if you get stuck in the exam and all else fails, it might be worth a look - although everyone may be aware of this already!! But I was delighted to be shown during the week as I hadnt copped it at all! Hope that helps 0 -
thumbelinda wrote: »Thanks Littlemiss123, that is actually very reassuring because that is exactly what I am doing. My issue is when I am looking back at the past exam papers, I am mis-understanding what they are asking me half the time! Just hope that the wording is clear on the day Eeek!!!
Just a tip that was passed on to me during the week, Appendix A and Appendix B in the Nolan book give a summary of the standards examinable and also all the exam questions divided out by each area, so if you get stuck in the exam and all else fails, it might be worth a look - although everyone may be aware of this already!! But I was delighted to be shown during the week as I hadnt copped it at all! Hope that helps
How are ye on Tax? I get thrown by the really complicated scenarios and find when I look st the solution I make quite a few mistakes especially in CGT0 -
PhilipLuke wrote: »How are ye on Tax? I get thrown by the really complicated scenarios and find when I look st the solution I make quite a few mistakes especially in CGT
Hi PhilipLuke,
Tax has a lot of learning in it but I think if you can manage the underlying principles and the main exemptions then you will pick up marks. Know agricultural relief and business relief like the back of your hand as they appear a lot! Delma Careys tip on territoriality works for me - think of someone you know for each type of territorial rule, Like I have Kim Kardashian linked to non-domiciled, non-resident non ordinary resident and that pretty much makes me remember that she doesnt pay tax in Ireland, ordinary residents are my friends who have immigrated to Oz, they are not paying income tax in Ireland on what they are earning in Oz and companies have similar territorial rules as individuals! Thinking of Kim Kardashian in my tax exam is sad but it definitely works as some of the rules are very wordy so I try and break them down into as few easy words as possible!!
On the upside, going by previous year pass rates and other threads on boards, the resounding message is that Tax is the easiest to pass so that makes me think they look to see have you the correct approach to a question as opposed to every single little calculation and rule correct - thats my hope anyways 0 -
thumbelinda wrote: »Hi PhilipLuke,
Tax has a lot of learning in it but I think if you can manage the underlying principles and the main exemptions then you will pick up marks. Know agricultural relief and business relief like the back of your hand as they appear a lot! Delma Careys tip on territoriality works for me - think of someone you know for each type of territorial rule, Like I have Kim Kardashian linked to non-domiciled, non-resident non ordinary resident and that pretty much makes me remember that she doesnt pay tax in Ireland, ordinary residents are my friends who have immigrated to Oz, they are not paying income tax in Ireland on what they are earning in Oz and companies have similar territorial rules as individuals! Thinking of Kim Kardashian in my tax exam is sad but it definitely works as some of the rules are very wordy so I try and break them down into as few easy words as possible!!
On the upside, going by previous year pass rates and other threads on boards, the resounding message is that Tax is the easiest to pass so that makes me think they look to see have you the correct approach to a question as opposed to every single little calculation and rule correct - thats my hope anyways
Yeah I agree I know all the rules its just the really complicated questions where I get caught out but I think everyone makes those mistakes!!
Dnow should I be thinking about kim Kardashian in the exam tho might not get a whole pile done:)0 -
thumbelinda wrote: »Hi PhilipLuke,
Tax has a lot of learning in it but I think if you can manage the underlying principles and the main exemptions then you will pick up marks. Know agricultural relief and business relief like the back of your hand as they appear a lot! Delma Careys tip on territoriality works for me - think of someone you know for each type of territorial rule, Like I have Kim Kardashian linked to non-domiciled, non-resident non ordinary resident and that pretty much makes me remember that she doesnt pay tax in Ireland, ordinary residents are my friends who have immigrated to Oz, they are not paying income tax in Ireland on what they are earning in Oz and companies have similar territorial rules as individuals! Thinking of Kim Kardashian in my tax exam is sad but it definitely works as some of the rules are very wordy so I try and break them down into as few easy words as possible!!
On the upside, going by previous year pass rates and other threads on boards, the resounding message is that Tax is the easiest to pass so that makes me think they look to see have you the correct approach to a question as opposed to every single little calculation and rule correct - thats my hope anyways
that is actually brilliant thanks!0 -
LOL - it seems Kim Kardashian does do it for us...although for some of us in different ways @philipluke!
If anyone else has any hints or tricks in remembering tax rules make sure and post them! every little bit helps!0 -
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PhilipLuke wrote: »Have you covered all the past papers? SFMA
No not at all the mocks is my first I have went through papers just not gotten to do them. Have you? In the mocks mv of debt in q 1 of 270 do u know how this is gotten my phone won't play the video of the solution 0 -
autumnbelle wrote: »No not at all the mocks is my first I have went through papers just not gotten to do them. Have you? In the mocks mv of debt in q 1 of 270 do u know how this is gotten my phone won't play the video of the solution
Par value of debt = 250
Market Price =108%
Market value = Par value * Market price = 2700 -
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