FAE 2011 Where to begin

Rickyroma

Sofa King Great wrote: »

Just came on to post the same. Glad to see they really have our interests at heart. similar to the institutes survey a few weeks ago!!

The email has been forwarded by the CAI a week early - it was supposed to be sent next Friday and feedback is to be given AFTER the exams.

FFS - this will be a complete waste of a day while I contact them and get this fixed.

In the meantime PLEASE DON'T complete the survey - it is supposed to be post exams feedback.

Thanks

acahopeful

okdune wrote: »

Have you done the Flexum question - try that at least it gives you a layout to follow should it come up. Although it says in the solutions that the sentences with * are the key sentences they are looking for - I claerly would have failed it. Wayyy too specific.

Hi, do you have a soft copy of this question and solution or could you let me know where i could find it please? Thanks

okdune

Morning everyone - isnt it just fecking gorgeous outside!!

I know the 2010 Mock papers are on the thread somewhere and I know I have them printed but just cannot find them - could someone post them pretty please !!

Perkina3

Mate they are only a few pages back.... Otherwise go the accountancy homeboard.... click the paperclip beside this thread before you go in to this thread and a list of all the attachments made are they!!

the_big_dawg

Rickyroma wrote: »

The email has been forwarded by the CAI a week early - it was supposed to be sent next Friday and feedback is to be given AFTER the exams.

FFS - this will be a complete waste of a day while I contact them and get this fixed.

In the meantime PLEASE DON'T complete the survey - it is supposed to be post exams feedback.

Thanks

Does this mean Rickyroma is an insider and has been spying on us? The institute are wonderful, Ricky! Ha ha, I'm losing my mind!

Rickyroma

the_big_dawg wrote: »

Does this mean Rickyroma is an insider and has been spying on us? The institute are wonderful, Ricky! Ha ha, I'm losing my mind!

CASSI not CAI!


I'm sitting these exams too!

okdune

acahopeful wrote: »

Hi, do you have a soft copy of this question and solution or could you let me know where i could find it please? Thanks

Here you go, knock yourself out.

luco123

Hi

Is deferred tax on investment properties calculated using the CGT rate?

eoferrall

luco123 wrote: »

Hi

Is deferred tax on investment properties calculated using the CGT rate?

Yes.

ohgodd

In relation to audit reports is it okay if the client leaves out a threat of litigation on the grounds that disclosure will prejudice the outcome of the case?

I have a recollection of this being said in a case or a lecture but i've gone through all the report qs and can't seem to find it anywhere. Does anyone know where to point in material for this?

Wrecking my head(along with everthing else)so any help much appreciated!

upnorthchick

My head is busting!! trying to sort out my BL file! f'n change management marketing blah blah like what the hell is all that abt... havent looked at FR in weeks and then management well enough said...
Major let down on my part.... wish i had another week...

smurifit

Hey guys..repeating the taxation elective and cant seem to find the 2011 Mock Solution or the 2010 exam solution. Would anyone be able to post them up? thanks a mil

luco123

My head is wrecked!

I cant figure out where they got the profit increase from in the price/earnings valuation for Silverturn in the 2010 Simulation 2 Organic Beef.

Help!!!!!

ab04

yeah took me a while to figure that one out myself...

look at appendix 2, the profit for the farm in 09 is 154,932. take 40% of that for the profit increase.

hope that helps

Wrecked007

in the reading time of the exam, can we write on paper we bring in, or is just on the exam paper we can write?

lucky01

ohgodd wrote: »

In relation to audit reports is it okay if the client leaves out a threat of litigation on the grounds that disclosure will prejudice the outcome of the case?

I have a recollection of this being said in a case or a lecture but i've gone through all the report qs and can't seem to find it anywhere. Does anyone know where to point in material for this?

Wrecking my head(along with everthing else)so any help much appreciated!

This might help?

IAS 37 para 92. "disclosure of some or all of the information can be expected to prejudice seriously the position of the entity in a dispute with other parties. In such cases an entity need not disclose the information, but shall disclose the general nature of the dispute.....and reason why the information has not been disclosed"

Fae1234

Hi Everyone!!!

3 Questions I hope people can help with!

1. Can you write on your own paper in the half an hour reading time? I know you can't write anything in the answer booklet but I think you're allowed write on your own?!

Tax

2. Am I right in thinking Stamp Duty is never payable when an asset is passed on death, whether in a Will or not.

3. For Retirement Relief, I always thought that transfers to children did not come into the €750,000 rule, i thought they were completely seperate but from the mock 2010 (Sim 1) elective solution it appears that there may be a clawback if you make disposals to your children after using the €750,000 limit to make disposals to third parties? Is it just that disposals to children are not included in getting to the €750,000 limit but once you've reached it, subsequent disposals to children can result in a clawback of the earlier relief on disposals to third parties?

Any help would be great, I have been driving myself mad all morning trying to work it out!

Wrecked007

is there an echo on the board......

Rickyroma

Wrecked007 wrote: »

in the reading time of the exam, can we write on paper we bring in, or is just on the exam paper we can write?

Yes - make your own notes on your own paper but don't open the answer book.

luco123

ab04 wrote: »

yeah took me a while to figure that one out myself...

look at appendix 2, the profit for the farm in 09 is 154,932. take 40% of that for the profit increase.

hope that helps

Thanks ab04,

One quick thing though, how do they then get the €79,234 for year 2?

upnorthchick

Hey would anyone have the answers for the marketing cases in the FAE Pack...
they are
Alone it stands
Care4 1
Hot Wheels
Personal Investment Advisors
and
Karglassco

Thanks guys.

ohgodd

lucky01 wrote: »

This might help?

IAS 37 para 92. "disclosure of some or all of the information can be expected to prejudice seriously the position of the entity in a dispute with other parties. In such cases an entity need not disclose the information, but shall disclose the general nature of the dispute.....and reason why the information has not been disclosed"

Cool,thanks for that. In most q's anyway it's just dealt with as a disagreement and doesn't mention the prejudice lark but on the off chance it does it was really annoying...thanks!

okdune

Just has my lunch and flicked through the Innovation section of the Irish times - I think I spotted about 100 indicators.

(Good article for those doing APM - could write it in my sleep at this stage!)

If anyone utters the word indicate or indicator after Thursday, god help them.

ab04

luco123 wrote: »

Thanks ab04,

One quick thing though, how do they then get the €61,972?

The 61972 is the 154932*40%, which is the increase in obc's profits. then goes up by 8% each year after.

luco123

ab04 wrote: »

The 61972 is the 154932*40%, which is the increase in obc's profits. then goes up by 8% each year after.

Sorry to annoy you now ab04, i really appreciate your help though.

im not getting the answer per the solution.

154932* 48% =74,367 per the solution €79,234.

ab04

luco123 wrote: »

Thanks ab04,

One quick thing though, how do they then get the €79,234 for year 2?

apologies realised i didnt answer your question. having looked at it again, i've no idea where the 79K came from. every other year it goes up by 8%, but in that year it goes up by more. Sorry!

luco123

ab04 wrote: »

apologies realised i didnt answer your question. having looked at it again, i've no idea where the 79K came from. every other year it goes up by 8%, but in that year it goes up by more. Sorry!

Thanks very much for your help, i really appreciate it. roll on this time next week!!

RidiculousHair

ab04 wrote: »

apologies realised i didnt answer your question. having looked at it again, i've no idea where the 79K came from. every other year it goes up by 8%, but in that year it goes up by more. Sorry!

Had the same problem with that question, still don't know where the hell they pulled the figures after year one from....surely not another mistake from the Institute????

RidiculousHair

Fae1234 wrote: »

Hi Everyone!!!

3 Questions I hope people can help with!

1. Can you write on your own paper in the half an hour reading time? I know you can't write anything in the answer booklet but I think you're allowed write on your own?!

Tax

2. Am I right in thinking Stamp Duty is never payable when an asset is passed on death, whether in a Will or not.

3. For Retirement Relief, I always thought that transfers to children did not come into the €750,000 rule, i thought they were completely seperate but from the mock 2010 (Sim 1) elective solution it appears that there may be a clawback if you make disposals to your children after using the €750,000 limit to make disposals to third parties? Is it just that disposals to children are not included in getting to the €750,000 limit but once you've reached it, subsequent disposals to children can result in a clawback of the earlier relief on disposals to third parties?

Any help would be great, I have been driving myself mad all morning trying to work it out!

Q1 answered above somewhere, yes, is the answer methinks

Q2 - SD exemption only available if passing under will per s113 of SDCA i think, passing under instestacy would give rise to charge, unless could pass by delivery or other exemption apply

Q3 - on the RR, there is no limit on transfer to children, only a clawback if disposed of within 6 years. If the clawback applies, it may still be possible to claim 3rd party RR as the child is effectively treated as a 3rd party (ie 750k limit applies, though no clawback).

Hope that helps....

Wrecked007

Is ISA 700 examinable, i beleive we were told it wasnt, yet we did it at induction and Mr Murray had us highlight a whole pile of stuff on it? It is on the competancy statement?