Accounting Technician students

j@utis · 25-05-2013 07:32PM

hey no more exams! well, for this year at least. I've finished my yr1 and I'm very hopeful that I've done just enough to pass Law&Ethics. I thought the law was the hardest subject and I wished it was the first exam instead of being the last - at that point I was a nerve wreck and feeling rundown and it was just too much of info to contain in my melting brain...
FA was my favorite subject but it was the first exam and I was soooo nervous, too nervous. I got the first Q right, balanced and all, 2nd went grand too and then bang! I completely flopped on q3 - never had problems with prepayments and accruals but those nerves you know, I just couldn't do it. after doing 5 qs I still had 25mins to go over the paper but q3 wouldn't give in and that was it... I walked out very disappointed with myself and my motivation to do well in the rest of the exams was gone too.
I was surprised with the business paper also - I knew next to nothing on the all theorists, leadership, motivation, hr - that was almost half of the book I'd say, and yet I could answer required number of questions fully, woohoo! happy days. really really hated this subject. textbook is ugly written, it's all very undefined, vague waffle, just awful stuff.
Tax went ok. I'd expect to loose about 4-5 points on each question because there was few bits I just didn't know how to deal with. and of course there're stupid mistakes. no major issues with tax though...
I did poorly in L&E. although I studied quite a bit of it during the year I only managed to look at it again for one day only just before the exam. I think I've answered two questions fully, that's about 20marks, and the rest will have to come from somewhere... I can't wait for the results. cmon july 8th!

Howjoe1 · 09-07-2013 11:52AM

well happy enough with results from year 1.

In relation to Part 2, does anyone know if it is possible to sit without attending night classes?

i.e.

Pay registration, buy course material, pay exam fees, maybe attend a few work shops...but avoid cost of college.

Personally, I think I would have got tru yr 1 just as well doing "self-study" and loads of past paper questions.

Miss_diagnosis · 09-07-2013 06:30PM

Howjoe1 wrote: »

well happy enough with results from year 1.

In relation to Part 2, does anyone know if it is possible to sit without attending night classes?

i.e.

Pay registration, buy course material, pay exam fees, maybe attend a few work shops...but avoid cost of college.

Personally, I think I would have got tru yr 1 just as well doing "self-study" and loads of past paper questions.

Id strongly advise against it. 2nd year is a lot more intensive then 1st year.in first year you could probably study the likes of bus mang and law on your own but in 2nd year,tax in paticular gets a lot more complicated..and management accounting definatly needs a lecturer to explain it to you.

bulmersgal · 09-07-2013 08:36PM

I don't think you can even if you want to,you have to sign up for distance learning.

Passed second year yesterday with a distinction woohoo

Howjoe1 · 10-07-2013 10:17AM

bulmersgal wrote: »

I don't think you can even if you want to,you have to sign up for distance learning.

Passed second year yesterday with a distinction woohoo

Well done with Part 2. I presume the study level required for year 2 is significantly higher?

I'll check out the distance learning option.

j@utis · 10-07-2013 10:26AM

I've passed my year 1 with the distinction too. I was surprised by my law&ethics result where I scored better than in business management - just after exams I felt I did much better in business than law - but the result is the opposite

I have a question about tax exam, multiple choice question in particular which is Q4 on the paper, part 5, why the answer is "(d)"? could anyone reference page in the textbook or somewhere else that explains it.

Part (5) Betty lives with her father Bill, who is aged 80 years. Bill’s only source of income is the old age pension. In the 2012 tax year Betty paid the following amounts on behalf of her father:
€4,000 in respect of a four week stay in a nursing home.
€500 in respect of doctor’s visits and prescription costs.

Betty can claim relief for medical expenses for 2012
(a) as a tax credit for the total cost of €4,500
(b) as a tax credit for the cost of €500
(c) at the marginal tax rate for the total cost of €4,500
(d) at the marginal tax rate for the cost of €4,000 and a tax credit for the cost of €500

Howjoe1 · 10-07-2013 11:14AM

j@utis wrote: »

I've passed my year 1 with the distinction too. I was surprised by my law&ethics result where I scored better than in business management - just after exams I felt I did much better in business than law - but the result is the opposite

I have a question about tax exam, multiple choice question in particular which is Q4 on the paper, part 5, why the answer is "(d)"? could anyone reference page in the textbook or somewhere else that explains it.

Part (5) Betty lives with her father Bill, who is aged 80 years. Bill’s only source of income is the old age pension. In the 2012 tax year Betty paid the following amounts on behalf of her father:
€4,000 in respect of a four week stay in a nursing home.
€500 in respect of doctor’s visits and prescription costs.

Betty can claim relief for medical expenses for 2012
(a) as a tax credit for the total cost of €4,500
(b) as a tax credit for the cost of €500
(c) at the marginal tax rate for the total cost of €4,500
(d) at the marginal tax rate for the cost of €4,000 and a tax credit for the cost of €500

Tax relief for nursing homes fees is still allowed at top rate of tax, i.e. 20% or 41%, where as other health expenses are given as a tax credit at 20% only.

DaffodilDaisy · 20-08-2013 03:56PM

Hi everyone, just wondering if anyone here is repeating advanced taxation on Thursday? Am finding it really difficult to remember all the rules, anyone got any advice for last minute study? Feel like everything I studied for May exams is gone from my mind.
Thanks

Accounting Technician students

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