FAE 2011 Where to begin

ThanksPhil

purcela wrote: »

lisa39 wrote: »

I think it is possible to pass, the only thing is there are no hard and fast rules on it.

Well obviously it is possible to pass, 75% of people who sat the core last year passed it!

Statistics are like miniskirts in Thailand. They give you the idea but you have no idea what's underneath!

LightningBolt

ThanksPhil wrote: »

Statistics are like miniskirts in Thailand. They give you the idea but you have no idea what's underneath!

The average human has one breast and one testicle.

Rickyroma

ThanksPhil wrote: »

I've been going over my law notes from college....

Why?

ThanksPhil wrote: »

....other elements of CAP1 and CAP2 because of the cumulative principle. I remember Paul Monahan saying he had stuck something into a paper that was a direct test of this 'cumulative principle' and that he had to remove it cause it was 'too soon'. I'm expecting to see something this year. Anyone got any ideas what else to study on this?.....

Other than CAP 1 and CAP 2 in their entirety you mean?

ThanksPhil wrote: »

I'm pretty sure you can ignore deferred tax. It's not coming up.....

How could you possibly know this?

ThanksPhil wrote: »

Also has anyone got any the solutions for 'Tastey Foods' and 'Harmon's Hotel'? .....

These "new" cases were given to your mate by a lecturer. Not buying it. Put up or shut up.

ThanksPhil wrote: »

The marking scheme is a bell curve so just answer all the indicators and BL and Finance well and you're sorted. HR and marketing are free marks anyway.

Incorrect. Pass mark is set by the Examinations board only after all exams have been corrected.


I'm pretty sure you're trolling and until you scan and post the cases I think I'll just ignore you.

ThanksPhil

LightningBolt wrote: »

ThanksPhil wrote: »

Statistics are like miniskirts in Thailand. They give you the idea but you have no idea what's underneath!

The average human has one breast and one testicle.

Ha well said

Hackysack

Hah. It looks like people are really getting stressed these days.

okdune

Hey everyone - eh quick question - what re IAS are applicable to liquiditions.

Tax fine - but havent covered it for PM.

Thanks

Lowrey

okdune wrote: »

Hey everyone - eh quick question - what re IAS are applicable to liquiditions.

Tax fine - but havent covered it for PM.

Thanks

subsidiary -> discontinued operation ifrs5
Entity itself - underlying assumption going concern no longer applicable so use realisable value (impaiment review 36). Need to also look at any provisions for restructuring & or oonerus contracts ias37.
On appointment liquidator fs period ends and a new one starts. Directors powers given to liquidator.

YaBagle

ThanksPhil wrote: »

It would appear my joke about the spelling of Paul Monahan's name went over some heads.
I also don't know what ball hopping is forgive my ignorance.
I meant that marketing and HR are free marks once you spot the indicator. Marketing was the best answered indicator in the mocks and I'd safely say people did the least work on it. It's bull once you spot it.
In relation to the cases Harmon's and Tastey I got them from someone who was given them by a lectuer. They are clearly drafts. When I get to a scanner I can scan them up and attach here but as said I've no solutions so they are more frustrating than anything else. The key lesson I took was that liquidations could come up as it is both pertinent to the material on the fae and to the current economic environment.
If my opinion doesn't help, ignore it but I'd rather not be called a jakass. Thanksphil

Anything that comes up on liquidations would have to be extremely basic. Liquidators have their own exams like.

Hackysack

YaBagle wrote: »

Liquidators have their own exams like.

Do they???

eoferrall

Hackysack wrote: »

Do they???

in ireland you don't, you can practice in ireland with no qualifications at all. many will be chartered accountants. In the UK there are qualifications and you can not practice without it. a sizable portion of Irish practitioners would have the UK qualification as its something to step you above the crowd.

lisa39

purcela wrote: »

Well obviously it is possible to pass, 75% of people who sat the core last year passed it!

If you read the post previous to that the question was 'Was it possible to pass getting yellows in BL of PM'

lisa39

lucky01 wrote: »

jees lisa39 calm down! just looking for some general guidance on ethics areas! is this board not set up for students to help each other?!

I am very calm.

Some ppl were just talking peoples advice too literally as if they had insider knowlegde, just trying to help!

ahtfulal

lisa39 wrote: »

lucky01 wrote: »

jees lisa39 calm down! just looking for some general guidance on ethics areas! is this board not set up for students to help each other?!

I am very calm.

Some ppl were just talking peoples advice too literally as if they had insider knowlegde, just trying to help!

You go girl!

Wrecked007

there was a sim about disclosure of directors remuneration, anybody know which case this was and where the reference material about this is?

Also is there anything of any value in section 1 of the resource pack that is a must read

cheers

Temporary Dub

lisa39 wrote: »

Hey Guys,

Have prepared this if anyone would find it useful. It is in A3 if you are printing.

Also any helpful suggestions to suitable ammendments/ updates would be greatly appreciated.

Nice One!

FAE _Wex

Would anybody have a copy of the solutions for the following cases would be greatly appreciated:
Dodgy Builders,
Building Fixes Ltd,
Nature Flame,
Byrne Ltd,
Greem Homes,
You Look Fantastic.

Thanks in Advance,

FAE_Wex

ManwitaPlan

Ugghh these bloody exams.

Just having a look at the mock there. It states:

"the current divisional controllers are too focused on the process, as a result of which there is no effort being put into reporting anything other than sales, gross margin and expenses each month"

OK so for me that is a non-directional indicator on KPI's...thats fine but to get competent you need to list four or five valid advantages to a Bal scorecard system.

I was doing another case the other day with an almost identical indactor but to get competent you had to comprehensively explain what kpi's and balance scorecard are.

Im questioning how the feck are you supposed to know how much and what to write. When you get a nondirectional indicator do you just put down everything you know on the subject....seems the only way to be sure.

Thats whats so annoying about these exams...ask me to explain KPI/BAL scorecard or give you advantages/disadvantages and Ill do it no problem but how the fvck are you supposed to "guess" what they want!!!1:mad:

Sorry just venting.

ManwitaPlan

Wrecked007 wrote: »

there was a sim about disclosure of directors remuneration, anybody know which case this was and where the reference material about this is?

Also is there anything of any value in section 1 of the resource pack that is a must read

cheers

Sim 3 Pybex in the audit 2011 mock I think.

upnorthchick

ManwitaPlan wrote: »

Ugghh these bloody exams.

Just having a look at the mock there. It states:

"the current divisional controllers are too focused on the process, as a result of which there is no effort being put into reporting anything other than sales, gross margin and expenses each month"

OK so for me that is a non-directional indicator on KPI's...thats fine but to get competent you need to list four or five valid advantages to a Bal scorecard system.

I was doing another case the other day with an almost identical indactor but to get competent you had to comprehensively explain what kpi's and balance scorecard are.

Im questioning how the feck are you supposed to know how much and what to write. When you get a nondirectional indicator do you just put down everything you know on the subject....seems the only way to be sure.

Thats whats so annoying about these exams...ask me to explain KPI/BAL scorecard or give you advantages/disadvantages and Ill do it no problem but how the fvck are you supposed to "guess" what they want!!!1:mad:

Sorry just venting.

I have had the same problem!! Raging at that, and i know the exact cases you are on about just cant remember their names.. lol

but yea throw everything down but also remember the case you working from!

ive resigned myself to the fact its gonna be luck on the day...

upnorthchick

Have you guys in north seen this? do they realise we finish our exams at half 5! lol

lisa39

Has anyone done Precision Cut?

Anyone know where the Cost of Extras figure is coming from?

It is probably extremly obvious, but going cross eyed at this stage, any help would be appreciated!

Just read the back of the page..... thanks!

Disaster!

Colts

upnorthchick wrote: »

Have you guys in north seen this? do they realise we finish our exams at half 5! lol

Best get moving quickly, bring your books and files with you ;-)

Colts

Wrecked007 wrote: »

Also is there anything of any value in section 1 of the resource pack that is a must read

cheers

Would also like to know this, otherwise I'm staying away from it!

upnorthchick

lol I aint going - ill be for home and bed! but just thought was funny...
think im going mad

Rickyroma

FAE _Wex wrote: »

Would anybody have a copy of the solutions for the following cases would be greatly appreciated:
Dodgy Builders,
Building Fixes Ltd,
Nature Flame,
Byrne Ltd,
Greem Homes,
You Look Fantastic.

Thanks in Advance,

FAE_Wex

Some attached

Rickyroma

FAE _Wex wrote: »

Would anybody have a copy of the solutions for the following cases would be greatly appreciated:
Dodgy Builders,
Building Fixes Ltd,
Nature Flame,
Byrne Ltd,
Greem Homes,
You Look Fantastic.

Thanks in Advance,

FAE_Wex

Missing one.

okdune

Lowrey wrote: »

subsidiary -> discontinued operation ifrs5
Entity itself - underlying assumption going concern no longer applicable so use realisable value (impaiment review 36). Need to also look at any provisions for restructuring & or oonerus contracts ias37.
On appointment liquidator fs period ends and a new one starts. Directors powers given to liquidator.

Great, thanks a million Lowrey.

luco123

Hi guys,

Can ye clarify a few things for me on directors accounts?

If a directors loan/current account appears as a Debtor in the SOFP, is this illegal as per the companies acts because they cannot have an overdrawn directors account.

If they appear as a creditor, the 10% of net assets rule applies?

Im confused on this help!

SL10

luco123 wrote: »

Hi guys,

Can ye clarify a few things for me on directors accounts?

If a directors loan/current account appears as a Debtor in the SOFP, is this illegal as per the companies acts because they cannot have an overdrawn directors account.

If they appear as a creditor, the 10% of net assets rule applies?

Im confused on this help!

Debtor- Loan to the director from company
As a debtor there are tax implications. You have to pay tax to revenue on the loan at the marginal rate. Then when the loan is repaid the tax is repaid from revenue.

I think it is the debtor loan that the 10% also applies to and the companies act requirements.

Creditor- Loan from director to company
I dont think a creditors loan has any effect other than the company owes it to the directors and it is not illegal

I could be wrong here so feel free to correct me guys!

ahtfulal

Any ideas on management accountant side of PM boys and girls? The main areas I can see are;

-Discuss current performance measurement system (weaknesses in system)
-Suggested improvements (KPI's/Balanced Scorecard)
-Given some information to draft a budget and compare to current figures.