FAE 2011 Where to begin

Perkina3

Yeah I am in the same boat..... struggling seriously... finished off all of the cases and dopey here didn bother to take photo copies of some of them for times like now when he had run out of stuff to do...

So little motivation and literally have barely done a tap since last friday....

On a side note... anyone have the 2010 mock questions and solutions which they could put up... looking for questions I haven't done yet and thre aren't many

Clanno

have to laugh when i read paul m's cases.

Have done a few cases and that black and white case is really all the wall, wasted a full day just trying to figure it out and still haven't god oh god!

then the sample paper come up with weird stuff come on - like last years paper how can u prepare for something like that- there so subtle...

ManwitaPlan

Clanno wrote: »

have to laugh when i read paul m's cases.

Have done a few cases and that black and white case is really all the wall, wasted a full day just trying to figure it out and still haven't god oh god!

then the sample paper come up with weird stuff come on - like last years paper how can u prepare for something like that- there so subtle...

Ha yeah thats a classic...was wondering if the black and white title was a cheeky bit of irony on mono's part due to the fact the case is anything but.:p

Colts

For the tax elective, sample paper, simulation III 'Venway'.

For the revenue audit of PAYE for 2008, I'd argue that the post 24/12/2008 code should apply, as the P35 would only be submitted after that date in 2009. Would the P35 return date be seen as the date of non-compliance or would it be the date that the PAYE should have been deducted from the employees wages?

Any opinions appreciated!

kitten_k

I have a feeling I will be sitting FAE's next year too!

okdune

Things are bad when you are sitting in front of the solution and cannot figure it out.

HELP - I HATE EPS

Has anyone done the Campbell Group question in Crazy Cotters book? When looking for the WA share (p.295) eh first line. Where is the Theort Ex Price of €2.40 coming from??

Please help - EPS terrifies me.

okdune

lisa39 wrote: »

Thank you!

They are the notes I had- thank god, it is a bit late for adding new material! I am going to do a few cases today and that is about it, have flicked through the book alright..... just hoping the cases won't be insanely hard..... but who knows!!

Fellow APM'ers where have you been - here you might find this useful....

okdune

okdune wrote: »

Things are bad when you are sitting in front of the solution and cannot figure it out.

HELP - I HATE EPS

Has anyone done the Campbell Group question in Crazy Cotters book? When looking for the WA share (p.295) eh first line. Where is the Theort Ex Price of €2.40 coming from??

Please help - EPS terrifies me.

Ignore me - clearly going crazy - the note is just underneath.

ahtfulal

kitten_k wrote: »

I have a feeling I will be sitting FAE's next year too!

Chin up kitten, I'm sure you be fine!

ahtfulal

EPS would be a fairly harsh indicator to get I would have thought!

okdune

okdune wrote: »

Ignore me - clearly going crazy - the note is just underneath.

Ok still don't understand - what is the Bonus Factor 2/1 included in the calc?

Sorry to bother you guys!

okdune

ahtfulal wrote: »

EPS would be a fairly harsh indicator to get I would have thought!

The fact that it is harsh makes it all the more bloody likely I would think!

Student456

ManwitaPlan wrote: »

Ha yeah thats a classic...was wondering if the black and white title was a cheeky bit of irony on mono's part due to the fact the case is anything but.:p

Would anyone have a soft copy of the Black and White case? Thanks

Sorry found it! Thx!!

eoferrall

okdune wrote: »

Ok still don't understand - what is the Bonus Factor 2/1 included in the calc?

Sorry to bother you guys!

its point iii in question on page 208. one for one bonus issue. had 1200 cumulative shares. one for one, so bonus issue is 1200 therefore cumulative is now 2400 share as per solution on p295

Hanley

Core - re: tax

Reckon the summary chapter in the corporate and tax planning book is enough to know? It says "the purpose of this chapter is to provide a high level review okey tax issues which may require consideration in the various business circumstances that can arise This summary document will be helpful in identifying the key tax issues which will require consideration in any practical situation presented"

lisa39

okdune wrote: »

Fellow APM'ers where have you been - here you might find this useful....

Hilarious, you are about 18 hours too late! I did this yesterday!!

But thanks all the same.

How are you feeling about it?

I keep missing indicators, having a bit of a APM melt down today!!!

Hackysack

Yeah I think it's a pretty decent summary of most of the course. I'd say you'd need to know some other areas within each of the chapter but if you're really stuck on the day with a tax query, it'd be a great place to check for a quick reference / reminder.

Rickyroma

okdune wrote: »

Ok still don't understand - what is the Bonus Factor 2/1 included in the calc?

Sorry to bother you guys!

That whole question is pretty evil and lecturer said it's at the extreme end of examinability.

I think the structure of the answer doesn't help at all either.

A Bonus issue means you have to restate the weighted average for entire year at the new level. So (for example) a 1:1 bonus issue in July does not mean 1M for 6 months and then 2M for 6 months. It means 2M for the entire year.

That means for the case study that you need to go back and re-adjust the first transactions too.

The only way I could make sense of it was by paying most attention to the cumulative shares column.

Vaioer

Anyone done Plastic Products?

In section 4, about the ABC costing, where are they pulling a) the 55,000 b) the 0.5 and 0.25 for the absorption and c) all the setup data for the ABC from?

okdune

eoferrall wrote: »

its point iii in question on page 208. one for one bonus issue. had 1200 cumulative shares. one for one, so bonus issue is 1200 therefore cumulative is now 2400 share as per solution on p295

Thanks but I get that part - its the 2/1 Bonus factor in the calculation to get the WA number of shares - first and send line at the top of p.295 solution. For example the first share propotion is 800m*1/12*2.50/2.40*2/1 (It is the 2/1 here and in the next line that I don't get.

Thanks so much for having a look at it.

okdune

Rickyroma wrote: »

That whole question is pretty evil and lecturer said it's at the extreme end of examinability.

I think the structure of the answer doesn't help at all either.

A Bonus issue means you have to restate the weighted average for entire year at the new level. So (for example) a 1:1 bonus issue in July does not mean 1M for 6 months and then 2M for 6 months. It means 2M for the entire year.

That means for the case study that you need to go back and re-adjust the first transactions too.

The only way I could make sense of it was by paying most attention to the cumulative shares column.

Ricky and EOFerrral,

I think I got it ish. Will have this one! Thanks!

okdune

lisa39 wrote: »

Hilarious, you are about 18 hours too late! I did this yesterday!!

But thanks all the same.

How are you feeling about it?

I keep missing indicators, having a bit of a APM melt down today!!!

I reckon if you can master FX and Interest Risk hedging calcs and then also the apprciating FX NPV question - the rest should be fine. APM has been put on the big fat back burner, behind me (like a lot of things) so will probably get a fright when I have a look at it tomorrow again!

The session notes are actually pretty good though - I didnt use them for the mocks, they would have made a bit of a difference I reckon. But jesus they go into a lot fo Bond and Eurcurrency detail. Just plonk yourself infront of Bloomberg TV tomorrow for a while and you may get a better understanding!

LightningBolt

Hanley wrote: »

Core - re: tax

Reckon the summary chapter in the corporate and tax planning book is enough to know? It says "the purpose of this chapter is to provide a high level review okey tax issues which may require consideration in the various business circumstances that can arise This summary document will be helpful in identifying the key tax issues which will require consideration in any practical situation presented"

Yeah I'd assume that's enough to get by on to be honest. There's only so many things that can come up. Purchase/sale of a company via shares/trade and assets. Deferred Tax implications on revaluations using IAS 16. Share buy backs. Cash extraction from a business. How to plan for retirement relief. Use of trading losses. Might have to briefly describe a revenue audit and how to prepare. They're all covered pretty well in the case studies to be honest.

eoferrall

okdune wrote: »

Thanks but I get that part - its the 2/1 Bonus factor in the calculation to get the WA number of shares - first and send line at the top of p.295 solution. For example the first share propotion is 800m*1/12*2.50/2.40*2/1 (It is the 2/1 here and in the next line that I don't get.

Thanks so much for having a look at it.

Sorry, misunderstood you! yeah its as rickyroma says. bonus is impacting the whole year. pain in the tits it is!

just to mention the note I have on it is to boost cumulative shares to ensure weighting is correct from bonus issue otherwise bonus issue halves value.

Just remember to adjust for bonus at the start if it comes up!

ahtfulal

Lightning Bolt ya hardly did up anything for financial reporting or what way are you revising it?

Cheers for tax summary!

LightningBolt

I got a Derry Cotter index off somebody which is far better than the one in the book. It has all the IASs listed out and then a list of relevant questions underneath which tells you exactly what is what.

Only have a hard copy though. Sorry!

Edit: For financial I've done most of my study on so I'm a bit more confident compared to other subjects so hope that I don't have to look it up as much hence why I didn't really bother with it for the index...

Rickyroma

Vaioer wrote: »

Anyone done Plastic Products?

In section 4, about the ABC costing, where are they pulling a) the 55,000 b) the 0.5 and 0.25 for the absorption and c) all the setup data for the ABC from?

Ridiculously - you were supposed to invent this yourself. I nearly threw the book out the window when I saw that - initially I presumed they had jsut left it out.

okdune

eoferrall wrote: »

Sorry, misunderstood you! yeah its as rickyroma says. bonus is impacting the whole year. pain in the tits it is!

just to mention the note I have on it is to boost cumulative shares to ensure weighting is correct from bonus issue otherwise bonus issue halves value.

Just remember to adjust for bonus at the start if it comes up!

Thanks a million EOF.

ahtfulal

Can you get a yellow in PM and still pass Core? I got yellow last yr in PM but red in BL hence why I'm repeating.

Like if you get green in BL and yellow in PM is it possible to pass?

Student456

ahtfulal wrote: »

Can you get a yellow in PM and still pass Core? I got yellow last yr in PM but red in BL hence why I'm repeating.

Like if you get green in BL and yellow in PM is it possible to pass?

As far as I know you need a green in both PM & BL

These are the only two that you need a green in!