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15-11-2014, 13:13   #1
account15
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Cap 2 2015 Thread

Thought it might be worthwhile having a thread for those of us sitting CAP 2 next June

I realise it is still very early days but `from talking to others the CAP 2's require hard work from day 1.

I myself am doing all four exams.

Would love to hear from past CAP 2 students about any tips/advice they would have or what they would do differently if they were doing them again.
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15-11-2014, 20:25   #2
prettyrestless
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Don't leave all the study til study leave, there's a lot to get through and the time goes quicker than you think!

Try your best at the interim exams. If you're adequately prepared, they're easy-ish marks and it takes the pressure off a little in the summer.

Practice as many questions as possible, especially in FR. You can't learn FR off, you just have to practice questions and journals.

It's worth trying your best at the mocks, you might still fail but it's handy to practice timing, etc.

If I can think of anything else, I'll let ye know
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16-11-2014, 22:01   #3
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audit is the same as FR, notes mean feck all! its all about adaption
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18-11-2014, 07:27   #4
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Anybody know what the SFMA tutorial covers on Thursday? Is it a help class for students struggling or is it just another lecture with new content?
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03-12-2014, 20:45   #5
ChartAccount
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Hi

Im doing audit and Tax. I have never done an open book exam!

Is there a class or something to show you how to prepare the audit file?

I think i heard something like that!

Do you guys have any chartered grinds notes for Audit and tax?

Last edited by ChartAccount; 03-12-2014 at 20:50.
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03-12-2014, 21:24   #6
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tbh open book really doesn't help at all, it can help if there is a piece of information you are looking for but tbh thats about it! what i did was tab all the important bits like substantive testing, gathering good audit evidence etc....i learned from the mocks that taking stuff from the book will more lose you marks than gain them. its all about adaption of what you know and whats in front of you. and audit answers can be very short... it took awhile for me to get around the aca solutions and whats actually needed in the exam.... and then the best thing you can do is just questions, thats what going to get you the 50% and thats what its all about really
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03-12-2014, 21:25   #7
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Anyone any tips on FR? I'm pretty lost on it
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15-01-2015, 18:24   #8
Aca student29
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Cap 2 tips (Rant)

hi y'all

dont know if im really best to give these tips, as i am repeating 3/4 exams
again this year. But this is what I am going to try this year. the exams are
all about technique, timing and strategy, 90%!. honestly, last august and
November, I saw ppl pass that had trouble calculating depreciation, and
others who were the best brains in the class and always gave their input fail,
it is so dis-heartening!!

Aca does not prepare you for these exams well enough, and I cannot stress the timing issues, along with been able to scan the exam paper effectively to get the best q's answered.
YOU WILL NOT FINNISH THE PAPER COMPLETELY, especially sfma & Fr this was a hard pill to swallow but everyone was in the same boat to some degree. I am aiming to focus on questions over & Over and then if I have time will do some background reading etc, not easy when your in a busy practice, let me tell ya when you get home you don't want to look at a calculator!!! The FR assessment is VITAL, as I observed last year there was in reality and according to the exam reports a trend with the assessment those that did well in interim passed summer, not the case with sfma, I got 11/15, and got 38% in summer, 46% in autumn, I know ppl that got 7-8/15 and passed in summer!! so focus on FR.

Also dont use up all your holidays and hold some in case for September, especially if you are doing 4 subjects as it is unlikely you will get all 4. some ppl do, but not as many as you think, i heard of 1 and i dont know the person, the norm seems 2 pass first time!

Sorry to put a downer on it, but i wish i heard this last yr, i would maybe have adopted a different approach and would have not left all to study leave, and i chose not too do mocks
as i was busy with work nd stuff and had no prep done, BIG MISTAKE. if all you can do is write your student no. i would still sit them to get a proper feel! Open book is crock of ****,and would only be useful for tax, but is not allowed.

Anyone else have any thoughts??
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15-01-2015, 21:22   #9
Aca student29
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hey,

I would learn off your rules for Tax, don't wait for cgs notes to be out, it is actually a book they give so
its not easy to photocopy and it will be kinda late out, and last years is no good.
Audit is a very passable subject and I would do aca revisions
for that, i did and got it on repeat. The open book is not a good strategy to adopt as it too time consuming.

I would have only 1 folder and know it inside out as well as having it tabbed as panic will do crazy things to u in the
exam. Do questions over and over, and in particular the ethical standards the ES1 etc. come into every question
nearly, and is a big no no to mess up.

Take it handy with your study and pace yourself, i wish i did modular as i would have had the time to focus more
on just 2 at a time and it makes a great foundation. I did a month of FAE whilst awaiting the results and i actually thought
it easier than cap 2 although still a lot of work but less technical and more interpretation and advice, so honestly go
back to the days of learning your times tables and learn all rules etc. that way if you have the time, it will benefit you
hugely!!
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15-01-2015, 21:23   #10
Aca student29
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hey,

I would learn off your rules for Tax, don't wait for cgs notes to be out, it is actually a book they give so
its not easy to photocopy and it will be kinda late out, and last years is no good.
Audit is a very passable subject and I would do aca revisions
for that, i did and got it on repeat. The open book is not a good strategy to adopt as it too time consuming.

I would have only 1 folder and know it inside out as well as having it tabbed as panic will do crazy things to u in the
exam. Do questions over and over, and in particular the ethical standards the ES1 etc. come into every question
nearly, and is a big no no to mess up.

Take it handy with your study and pace yourself, i wish i did modular as i would have had the time to focus more
on just 2 at a time and it makes a great foundation. I did a month of FAE whilst awaiting the results and i actually thought
it easier than cap 2 although still a lot of work but less technical and more interpretation and advice, so honestly go
back to the days of learning your times tables and learn all rules etc. that way if you have the time, it will benefit you
hugely!!
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15-01-2015, 21:24   #11
Aca student29
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hey chart Account,

I would learn off your rules for Tax, don't wait for cgs notes to be out, it is actually a book they give so
its not easy to photocopy and it will be kinda late out, and last years is no good.
Audit is a very passable subject and I would do aca revisions
for that, i did and got it on repeat. The open book is not a good strategy to adopt as it too time consuming.

I would have only 1 folder and know it inside out as well as having it tabbed as panic will do crazy things to u in the
exam. Do questions over and over, and in particular the ethical standards the ES1 etc. come into every question
nearly, and is a big no no to mess up.

Take it handy with your study and pace yourself, i wish i did modular as i would have had the time to focus more
on just 2 at a time and it makes a great foundation. I did a month of FAE whilst awaiting the results and i actually thought
it easier than cap 2 although still a lot of work but less technical and more interpretation and advice, so honestly go
back to the days of learning your times tables and learn all rules etc. that way if you have the time, it will benefit you
hugely!!
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21-01-2015, 15:23   #12
cap2again
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Notes

Can anyone post the notes and question & solution packs for FR, Auditng and SFMA. I'm In a small firm and don't have access to themas i am repeating. It would be much appreciated.
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21-01-2015, 15:25   #13
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Notes

Can anyone post the notes and question & solution packs for FR, Auditng and SFMA. I'm In a small firm and don't have access to them, as i am repeating. It would be much appreciated.
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21-01-2015, 20:01   #14
prettyrestless
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Quote:
Originally Posted by Aca student29 View Post
Aca does not prepare you for these exams well enough, and I cannot stress the timing issues, along with been able to scan the exam paper effectively to get the best q's answered.
YOU WILL NOT FINNISH THE PAPER COMPLETELY, especially sfma & Fr this was a hard pill to swallow but everyone was in the same boat to some degree.
I disagree with some of this. I think ACA does as much as they can but you have to work away yourself throughout the year which can be difficult on top of work I know.

It's very possible to finish all the papers, but it really does take work. With FR I wrote out the template for the sploci and sofp at the start of the exam and just put on figures as I went. I knew the layouts off by heart so I didn't even have to think about it.

I think the most important thing is to figure out how many minutes you have per q and stick to it. You should be able to attempt all parts of the paper.

Everyone should attempt the mocks. You won't have time to study but just bring in your notes and books and practice using them. You will more than likely fail the mocks but they are so handy! Don't just sign your name and leave! I know people who did that last year and they really regretted it afterwards.
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28-01-2015, 23:18   #15
ChartAccount
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Does anyone havr cgs notes for audit snd tax...Thanks
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