FAE September 2013

upnorthchick · 26-08-2013 11:48AM

so_bored.com wrote: »

Which booklet was this?

I call it a booklet but it's Derry cotter notes split over four with all irfrs and standards in? Looks like this

so_bored.com · 26-08-2013 12:01PM

upnorthchick wrote: »

I call it a booklet but it's Derry cotter notes split over four with all irfrs and standards in? Looks like this

Dont think i have that was it given out in the main course?

upnorthchick · 26-08-2013 12:13PM

so_bored.com wrote: »

Dont think i have that was it given out in the main course?

Yea it's on main course, but I have it from 2011 and is been updated every year. Are you sure youdon't have it?

Lol2013 · 26-08-2013 12:13PM

How is everyone feeling???

upnorthchick · 26-08-2013 12:15PM

Lol2013 wrote: »

How is everyone feeling???

Ha nervous and very holy all of a sudden. My mother would be proud!

Lol2013 · 26-08-2013 12:18PM

upnorthchick wrote: »

Ha nervous and very holy all of a sudden. My mother would be proud!

Lol

I'm very nervous but calm. I got a blessing from the priest yesterday. Nice priest told me to be as calm as possible.

But I've always been spiritual (I don't mean that in a pious way) so that's been helping me get through this lol.

I never want to do this again. The emotions you go through. It's crazy.

upnorthchick · 26-08-2013 12:22PM

Lol2013 wrote: »

Lol

I'm very nervous but calm. I got a blessing from the priest yesterday. Nice priest told me to be as calm as possible.

But I've always been spiritual (I don't mean that in a pious way) so that's been helping me get through this lol.

I never want to do this again. The emotions you go through. It's crazy.

That's not bad idea. I was at mass and that yest. Felt very calm after actually took rest of day from study.
Just hope this is everyone's year. I will not be doing this again.

Lol2013 · 26-08-2013 12:25PM

upnorthchick wrote: »

That's not bad idea. I was at mass and that yest. Felt very calm after actually took rest of day from study.
Just hope this is everyone's year. I will not be doing this again.

I have a feeling it will be everyone's year

Scrap that..

I believe it is everyone's year

Lol2013 · 26-08-2013 12:28PM

Say you pass right. Can you finish your contract with another company....

upnorthchick · 26-08-2013 12:30PM

Lol2013 wrote: »

Say you pass right. Can you finish your contract with another company....

Yea you can. As soon as exams are over get your diaries up to date

upnorthchick · 26-08-2013 12:31PM

upnorthchick wrote: »

Yea you can. As soon as exams are over get your diaries up to date

Just get your contract transferred to new company but stay with one your in at least until results

Lol2013 · 26-08-2013 12:32PM

upnorthchick wrote: »

Yea you can. As soon as exams are over get your diaries up to date

Wow for real this is good news...will I have to pay them back the CA fees

so_bored.com · 26-08-2013 12:33PM

upnorthchick wrote: »

Yea it's on main course, but I have it from 2011 and is been updated every year. Are you sure youdon't have it?

No dont seem to have those notes!

are they useful?

Lol2013 · 26-08-2013 12:33PM

upnorthchick wrote: »

Just get your contract transferred to new company but stay with one your in at least until results

Oh ya of course(not gonna do anything stupid

so_bored.com · 26-08-2013 12:34PM

Lol2013 wrote: »

How is everyone feeling???

Not feeling anymore prepared that last year which is worrying!!

Padkir · 26-08-2013 12:38PM

lala1987 wrote: »

What's people's attitudes to calculations are they taking the appendix at the back approach? I don't like that too much! Moving forward and back through pages can be time wasting?

Have an Exec Summary to keep it professional looking at the front and then lump in the calculations in the main body of the report / memo.

You're right, it gets messy and time-consuming putting appendices at the back, and in the heat of the exam it would be easy to forget to reference exactly where you did it and parts could go missing.

Lol2013 · 26-08-2013 12:39PM

so_bored.com wrote: »

Not feeling anymore prepared that last year which is worrying!!

Ahh don't worry..I think we will be grand
I'll post the DC notes now

Lol2013 · 26-08-2013 12:46PM

so_bored.com wrote: »

Not feeling anymore prepared that last year which is worrying!!

MORE TO COME

Lol2013 · 26-08-2013 12:49PM

Lol2013 wrote: »

MORE TO COME

hERE they are,
there were powerpoint slides too but they were just a summary of what I posted.

I can't attach session one because it keeps saying the file is too big

so_bored.com · 26-08-2013 12:50PM

Lol2013 wrote: »

hERE they are,
there were powerpoint slides too but they were just a summary of what I posted.

I can't attach session one because it keeps saying the file is too big

Thanks really appreciate it

Lol2013 · 26-08-2013 12:52PM

so_bored.com wrote: »

Thanks really appreciate it

no probs

walshing · 26-08-2013 01:02PM

mayflower mock 2013-anyone able to tell me when they valuing the subsidary they use 80%(600*80%*8)?( profit *pe*80%) where the 80% come out of?

deeacc · 26-08-2013 01:06PM

Another quick question....
Has anyone looked at the Hayward Group in the Derry Cotter FR book? the sale of the building to Alpha Investments seems to be a sale and leaseback? (correct me if i am wrong) and under IAS 17 says that any excess of proceeds over carrying amounts of assets should be accounted for as deferred income and amortised over the lease term....
the solution does not refer to the excess of €500,000?
Or should this just be accounted for as a normal loan?
Oh the confusion

Shane732 · 26-08-2013 01:08PM

walshing wrote: »

mayflower mock 2013-anyone able to tell me when they valuing the subsidary they use 80%(600*80%*8)?( profit *pe*80%) where the 80% come out of?

Is the sub listed (I can't remember of the top of my head)? If not then I assume it's a discount due to a lack of trabeability (if that's even a word) of the shares.

If you're using an earnings multiple of a similar listed company, you always discount the multiple because the shares in the limited company are tradable.

walshing · 26-08-2013 01:11PM

oh ya its not listed, i was thinking that but was just confirming where the 80% came out of,you know the institute and there solutions!

walshing · 26-08-2013 01:13PM

deeacc wrote: »

Another quick question....
Has anyone looked at the Hayward Group in the Derry Cotter FR book? the sale of the building to Alpha Investments seems to be a sale and leaseback? (correct me if i am wrong) and under IAS 17 says that any excess of proceeds over carrying amounts of assets should be accounted for as deferred income and amortised over the lease term....
the solution does not refer to the excess of €500,000?
Or should this just be accounted for as a normal loan?
Oh the confusion

i dunno have i the wrong case but is a subtance over form thing and they have an option buy back? i seen that in some case?! could be wrong

GreenPen · 26-08-2013 01:16PM

Shane732 wrote: »

Is the sub listed (I can't remember of the top of my head)? If not then I assume it's a discount due to a lack of trabeability (if that's even a word) of the shares.

If you're using an earnings multiple of a similar listed company, you always discount the multiple because the shares in the limited company are tradable.

I took that as being 1 - tax rate of 20%? Is that incorrect?

so_bored.com · 26-08-2013 01:17PM

walshing wrote: »

mayflower mock 2013-anyone able to tell me when they valuing the subsidary they use 80%(600*80%*8)?( profit *pe*80%) where the 80% come out of?

Noticed this earlier this morning aswel.. I took it to be the effect of tax!
If you calculate the earnings after tax(480) x pe of 8 it gives the same valuation?

Correct me if im wrong though?

deeacc · 26-08-2013 01:17PM

walshing wrote: »

i dunno have i the wrong case but is a subtance over form thing and they have an option buy back? i seen that in some case?! could be wrong

Not 100% on the understanding of substance over form...
they used to teach us that with accounting there is a right answer and a wrong answer....oh the lies!!!

walshing · 26-08-2013 01:18PM

but if valuing a company, we usual dont factor in the tax rate? do we? oh earnings after tax makes sense!

FAE September 2013

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