FAE 2011 Where to begin

epm84

lucky01 wrote: »

I have the summary notes printed and divided into each standard in my file! they are good reference if you know the standard but dont mean much if you havent read the standard or understand main point from it! im repeating from last year too and had to reprint all the standards for audit as most of them were revised and some new ones added! The summary notes are referenced to the new standards and therefore will differ from the blue standards book we got last year! only keeping the blue book for the ethical standards! i didnt enrol on the revision course so I didnt get a new standards book!


There is a link on here a few pages back to all the revision notes at the start of the year. you will get them through there!

Thanks! I eventually found them, although as you say, they aren't much use unless you know or have read the full standard! Back to the drawing board with Audit!

What way are most people revising for Audit core? The text book contains a lot of detail, and the summary notes are too brief! I've decided to read the chapters from the text book that have appeared most in the sample papers and cases - risk, internal control/controls and fraud. Other than that, it's just gonna be learning from the cases as i go along! That's what i done last year (i think!).

the_big_dawg

lucky01 wrote: »

I have just done the southern fisheries case and one of the indicators was about the evaluation of a proposal from the bank for funding.
The solution says that a bank lending proposal can be evaluated using 5 criteria being cost, risk, adequacy, alternatives and availability! does anyone know if we have anything relating to evaluating funding proposals anywhere in notes? i cannot find anything on it and would not have answered under these headings in the real exam!

I wasn't sure about these headings either but noticed that in the new Petrov case, it uses these 5 headings also. Must be a common evaluation technique but can't find it in my notes anywhere. Just going to learn these 5 headings.

Perkina3

Your best bet is to just write out ur summary notes for the pair of them and then coallate the answer from both to give u a good base to work from...

Obviously you won't copy word for word but if it did come up would give you a good base to work from....

Thats how I am working anyway and while I am still struggling to hit the indicators now that it's got a good level of detail in it I find this summary folder is quite useful...

the_big_dawg

In the case, it states that the brothers are wondering about the tax consequences of 'each of them simply taking the divisions they each run in place of their shares in MWOL'....they are open to your suggestions.

Nothing in the solution about this. Am I missing something?

luco123

Hi all, hope the study is going well.

Does anybody have the solution for the last marketing case study Karglassco?

It would be greatfully appreciated.

Thanks.

Colts

the_big_dawg wrote: »

In the case, it states that the brothers are wondering about the tax consequences of 'each of them simply taking the divisions they each run in place of their shares in MWOL'....they are open to your suggestions.

Nothing in the solution about this. Am I missing something?

I went over that case this morning and found the solution a bit iffy, surely that screams indicator, for either tax or business leadership!

Perkina3

Its good to see that the institute are still up to their old tricks...

Just got an email in there saying that our mock papers are available for collection on Saturday between 11 and 2 only... The email was sent bout half an hour ago....

Plenty of time for ppl to plan how they are going to get up from the country to pick them up:mad:.

Just thought I would give everyone a heads up.

RidiculousHair

Just wanna say thks to all for posting the bits n pieces of notes over the past while...been really helpful..especially when you're missing chunks!

Been going through some questions over the past few days and gotta agree with much of what has been said on the indicators...some are seemingly pretty obvious, yet not even featuring in the solution! Granted, everyone may have different way of approaching the questions, but you would have thought that all the issue would have featured in some shape or form..

Was having a look at some corp gov stuff today, and broadly, the issues that arise in the cases are the same, yet the level of answers in the sols seem to vary widely...some being very specific, whereas others seem to abopt a "kitchen sink" approach... so, potentially, i'm competent in some corp gov q's but others i would prob only be nominally comp...seriously friggin frustratin!!!!

fancyanosh

the_big_dawg wrote: »

In the case, it states that the brothers are wondering about the tax consequences of 'each of them simply taking the divisions they each run in place of their shares in MWOL'....they are open to your suggestions.

Nothing in the solution about this. Am I missing something?

I attempted this case today and saw the same thing. Just finished watching the session online where Paul Monahan goes through this case. He has the case up on the screen as he's going through it. I noticed that the paragraph about the bros splitting up the company has been taken out!

So the version of the case that we attempted and the one the solution is based on are different. No big deal really. There's no way there would be a statement like that on the actual exam that wasn't an indicator. They'll be far more clear cut hopefully, especially for tax you would assume.

steve_r

First off I'd like to thank everyone who's uploaded notes/answers etc.

Secondly there's 1 quick thing I'd like to ask the group:

At the mock Review day, Paul Monaghen gave us a list of 11 or so industries and said something along the lines of considering the KPI's for each. I've been writing up ones I've came accross i case studies but I'm nowhere near covering them all. I did a google search as well but all I could find were premium US websites. Has anyone found a way of pulling this info together quickly, i.e. is there any online resource or is there anything useful in the notes?

LightningBolt

I've lifted KPIs for 7 industries from here http://blog.maia-intelligence.com/

I've cut out all the descriptions so isn't the greatest.

Industries I've done it for are:

• Manufacturing
• Healthcare
• Retail
• Hospitality
• Construction
• Airline
• Car Industry - more related to manufacturing in my mind

carly_2011

Perkina3 wrote: »

Its good to see that the institute are still up to their old tricks...

Just got an email in there saying that our mock papers are available for collection on Saturday between 11 and 2 only... The email was sent bout half an hour ago....

Plenty of time for ppl to plan how they are going to get up from the country to pick them up:mad:.

Just thought I would give everyone a heads up.

I havent got this email?! Are we to go to dublin to collect results or not?!

Nidot

Hey Lightning Bolt, thnks for those KPI's gona keep those handy for the exam, I can see it being one of the performance management indicators in there.

Just in relation to the Mock exams, got them this morning by post, how have people found the commentary on them.

Having read through mine now, I'm still not sure whether I'm deemed competent, reaching competent, nominal competent or whatever. The commentary provided is fairly vague about what i answered, and while it says good answer in some places it says other improvement points in others, so just wondering how do you judge where on the scale you are.

Another thing, a few of the correctors mentionned that I should use the questions when preparing my answers, and that to stick to time constraints given the question nrequirements... em do they not know that there are no actual questions on the exam paper.

epm84

LightningBolt wrote: »

Of no real importance but mock results online tomorrow Fri 5th and results being posted out today and tomorrow.

Has anyone's results appeared online yet?

Nidot

epm84 wrote: »

Has anyone's results appeared online yet?

Results haven't appeared online for me yet, but got the scripts in the post this morning.

Typical institute.

LightningBolt

Institute said they'll they be up in the afternoon...

Perkina3

With respect to the scripts...I dunno now... cuz some ppl are saying its being posted out and I got an email telling me I had to collect mine....

SL10

Perkina3 wrote: »

With respect to the scripts...I dunno now... cuz some ppl are saying its being posted out and I got an email telling me I had to collect mine....

I think maybe its just the Dublin groups that have to collect the scripts but im not sure. Very annoying that they just assume as we work in Dublin that we are studying there!

MunchieMonster

Perkina3 wrote: »

With respect to the scripts...I dunno now... cuz some ppl are saying its being posted out and I got an email telling me I had to collect mine....

Same got an email as well, I assume if you sat them in Dublin you have to collect them, but I could be wrong.........

carly_2011

Post just arrived... no scripts! Typical! In waterford and sat them here.. others here have arrived

Peanut_M

I got an email saying I have to collect mine too, I thought they'd be posted out!

kitten_k

It's ridiculous they have to be collected!

starbarsmile

Ok so I some how managed to actually talk to a person in the Institute...

They said that the scripts will be sent out next week from Dublin if they have not been collected on Sat!!

Total joke like why didn't they just send them out in the first place!!!! I asked her a few times just in case and she said they are definitely being sent out next week!!

She said that anyone who did the lectures in Dublin will have to collect them in Dublin and then anyone else they are sent out (so thats why some people are getting them in the post)

Saves a trip into town anyway!!

Nidot

starbarsmile wrote: »

Ok so I some how managed to actually talk to a person in the Institute...

So they're actually answering the phones in the institute.

Was talking to a buddy earlier. We were saying that typical institute will release the results last thing this evening so they won't have loads of people ringing them up asking for explanations of results and all that goes with that. Just wondeirng what anyone else thinks of that...

Perkina3

Ah yeah it's a typical thing alright... Sure they annouced yesterday last thing in the evening bout the scripts on Saturday so they wouldn't have to answer the phones till today like

ahtfulal

Perkina3 wrote: »

Ah yeah it's a typical thing alright... Sure they annouced yesterday last thing in the evening bout the scripts on Saturday so they wouldn't have to answer the phones till today like[/Quote

Was the same story last year with da mocks I remember so at least they're consistently incompetent!

Peanut_M

starbarsmile wrote: »

Ok so I some how managed to actually talk to a person in the Institute...

They said that the scripts will be sent out next week from Dublin if they have not been collected on Sat!!

Total joke like why didn't they just send them out in the first place!!!! I asked her a few times just in case and she said they are definitely being sent out next week!!

She said that anyone who did the lectures in Dublin will have to collect them in Dublin and then anyone else they are sent out (so thats why some people are getting them in the post)

Saves a trip into town anyway!!

I think I'll collect them tomorrow just in case!

the_big_dawg

Results are up and surprise, surprise a big fail! Anyone know what the 'decile ranking' is?

SL10

Results are up on the website now- tho it only gives pass/fail and your decile ranking. The decile is the lower the better yeah?

the_big_dawg

Ignore my previous question, I was being stupid! 6 in both- damn almost made the top half, lol. I have a lot of work to do!