FAE September 2013

walshing wrote: »

anyone think the tax indicator in mock 2013 sim 2 personal car club, was a bit stupid/silly? cause i walked right by it?! twice-doing the mock and today! ha except for cgt part on shares-

Thought it was ok

Lol2013 wrote: »

Oy ya never got an answer to that.

Anyone???

I was esp looking for the 2010 inc in working capital

What's the story with cross selling, when is it appropriate to use it

Lol2013 wrote: »

What's the story with cross selling, when is it appropriate to use it

I suppose cross selling isn't something you use, rather it's an opportunity that presents itself sometimes. Assuming you aren't selling at though than needed margin cross selling is always a good thing.

FAEStress wrote: »

Does anyone have good advice on group accounts?

I feel like I'm struggling with it at the moment, as I do the questions in the DC book.

Pray they don't come up!!

Can't remember who was asking about the whole corp gov issue in relation to parent and subsidiary as in do u follow the need to comply if parent is listed and subsid is limited.

From the 2013 mock, mayflower was listed but not on ftse 350 exchange therefore deeming it to be a small company but still complying with the code (just with the need to have 2 INED). It's subsid was limited but still compiled with the small company requirement of the code.

Hope this helps!!

Hi Lexicon of verb link is in email sent from institute

Has anyone a copy of the sample exam Papers - i see them in the Case reference attached or can you guide me where to find them

Thanks

ANYONE GUYS???????

Below is part of the solution for SX Maxx -
In the event the company insisted that the auditor’s report is signed in the absence of the auditor having sight of the Chairman’s Statement/Report, this would be dealt with by way of emphasis of matter (i.e. additional final paragraph of the audit report) which paragraph would refer to the fact that the auditor has not been able to read the Chairman’s Statement prior to signing the audit report and cannot accordingly comment on any inconsistencies or misstatements contained within it.

It was my understanding that if its part of "other information" that any inconsistencies/misstatements result in a "other matter paragraph" and not an "emphasis of matter paragraph." Is it if something is not sighted at all it os EOM as opposed to OM? I can't see anything to back this up thou!?

Any help would be greatly appreciated?!

Lol2013 wrote: »

Is it possible for a parent to be listed and not the subsidiary.

I took it that seeing as Mayflower group was listed that means Mayflower Ireland was Listed

I didnt think of it this way. I just assumed because the subsid was Mayflower Ireland limited that it was private ?

Lol2013 wrote: »

I don't really understand the concept tho. wHAT is it . Thanks

If you have two different divisions and there is an opportunity to sell two different products or services to the same customer.

For example, if one division of a company sells solar panels and another division sells wind turbines and another division provides consulting services for these, then there is an opportunity for one customer to want all 3.

So in that case, you should try to incentivise managers and staff to "cross-sell", e.g. a wind turbine salesman sells a customer a wind turbine. He could be offered a % of the profit on a solar panel sale if he refers the customer over there and he buys a solar panel.

Padkir wrote: »

If you have two different divisions and there is an opportunity to sell two different products or services to the same customer.

For example, if one division of a company sells solar panels and another division sells wind turbines and another division provides consulting services for these, then there is an opportunity for one customer to want all 3.

So in that case, you should try to incentivise managers and staff to "cross-sell", e.g. a wind turbine salesman sells a customer a wind turbine. He could be offered a % of the profit on a solar panel sale if he refers the customer over there and he buys a solar panel.

Ok thanks that clears that up in my head.

Regards

Lol2013 wrote: »

I don't really understand the concept tho. wHAT is it . Thanks

Cross selling is basically the idea of being able to sell a product to customers of a different division/ associated company.

For example if you currently have a company that sells a product, say golf clubs, and you're looking at buying a company that sells golf bags then one of the advantages of the purchase will be potential cross selling. You can sell the bags to the people buying golf and vice versa.

barrystealover wrote: »

AUDIT ELECTIVE: CORPORATE GOVERNANCE APB Bulletin 2011/01

When going throught the online session for corporate governance , the auditors reports in the appendices to this 2011/01 are from Bulletin 2006/1.

Are I correct in saying we are not using 2012/01??

Yeah 2012/01 it the examinable doc. But they wudn't have updated any bulletins before this for this reference.

thetrainee wrote: »

So frustrating, it also goes against the rule that emphasis of matter only covers items properly disclosed!? We won't know if it is so huh?!

Yeah that sentence "A matter whose outcome depends on future actions or events not under the direct control of the entity but that may affect the financial statements” doesn't appear in the ISA!

I know wth like...
I spilled that exact same answer in the mocks and the examiner didn't pick up on the fact that there is no such para. I only picked up on it when I was doing the question

FAEStress wrote: »

In relation to related parties;

Are associates related to other associates, if they are in the same group?

No