FAE 2011 Where to begin

querty1234

Yeah im a bit confused bout the Flexum question too... i dont see any * points in answer either??

123theplacetob

does anybody have a good summary of NI tax reliefs? i always seems to forget about 1 when doing a question.

thanks

Choc Chip

Anyone else just had enough? I took a day off yesterday 'cos I just couldn't think anymore and I have zero motivation to start up again today.

I think the FAE's have finally broken me.

ahtfulal

Choc Chip wrote: »

Anyone else just had enough? I took a day off yesterday 'cos I just couldn't think anymore and I have zero motivation to start up again today.

I think the FAE's have finally broken me.

Yeh I'm the same just reading over my notes and not going into anything too technical at this stage. It's impossible to try cover everything in detail. Just hoping for da best and that we get decent papers with clear indicators.

Madeline M

What do ye think about the new ISAs - I haven't read any of them yet! Are they worth reading? or basically the same as the old ones? Running out of time and prob take good while to read through them all...

Colts

List of words I now hate:

Indicator
Comprehensive
Simulation
Strategy
Core
Competence
Ethical

Colts

Choc Chip wrote: »

Anyone else just had enough? I took a day off yesterday 'cos I just couldn't think anymore and I have zero motivation to start up again today.

I think the FAE's have finally broken me.

If I had the option to go into the first exam right now I think I'd take it. Totally fed up at this stage, roll on Thursday at 5.30.

lisa39

Choc Chip wrote: »

Anyone else just had enough? I took a day off yesterday 'cos I just couldn't think anymore and I have zero motivation to start up again today.

I think the FAE's have finally broken me.

Got up early to do the May 2010 MD Paper (to ease me in for the day)

Read half of it, said f**k this and got back into bed..... getting through it now, painfully slow.....Just hope I can be motivated Tues- Thurs

limklass2011

lisa39 wrote: »

Got up early to do the May 2010 MD Paper (to ease me in for the day)

Read half of it, said f**k this and got back into bed..... getting through it now, painfully slow.....Just hope I can be motivated Tues- Thurs

At this stage it seems were all so fed up and wrecked..i think from now to Tuesday i may jus potter about over my notes, make sure I know whats in the folders etc..otherwise I run the risk of sittin there on Tues faced with an animal of case in front of me and will feel defeated before I pick up a pen..I can imagine me thinking ah sod it already..

Madeline M

limklass2011 wrote: »

At this stage it seems were all so fed up and wrecked..i think from now to Tuesday i may jus potter about over my notes, make sure I know whats in the folders etc..otherwise I run the risk of sittin there on Tues faced with an animal of case in front of me and will feel defeated before I pick up a pen..I can imagine me thinking ah sod it already..

That's what happened me last year - failed the core on business leadership. Saw the Neptune case study and just gave up - missed the two business leadership indicators. Think the most important thing from now until Tuesday is to sleep as mush as possible so we'll have plenty of energy and motivation going into the exams - impossible to do a 4.5 hour exam if wrecked. That's my plan anyway and sort out my notes properly!

okdune

Susie.Q wrote: »

Really screwed when it comes to deferred tax.. can anyone give me key points on where to look out for deferred tax in case studies.. please and thanks

See below Susie - Examples from Cotters lovely little novel.

Frontpage Group - GOOD EXAMPLE DEFERRED TAX
Healthfirst Group - Remember - deferred tax is only about temporary/timing differences - permenant differences such as fines have no impact
Healthfirst Group - Remember to take deffered take out of RR - if temp difference arising from reval increase
Healthfirst Group - A deferred tax provision from revaluation is included in RR - DR RR and CR Prov
The O'Neill Group - Deferred tax should always be done for temporary difff - if not error or ommission


Apologies for my short hand notes but there are a few examples.

ahtfulal

Did likewise last year remember I made a complete dogs micky of core and thought I failed there and then so lost complete interest in sims. I'll try and hang in there a bit better this year hard and all it will probably be!

okdune

ahtfulal wrote: »

Did likewise last year remember I made a complete dogs micky of core and thought I failed there and then so lost complete interest in sims. I'll try and hang in there a bit better this year hard and all it will probably be!

I am offically bricking it now. Which I know is stupid and pointless.

All you guys seem to be able to roll the tax stuff off so easy......

Student456

Would anyone have a copy of the Karglassco case that they could post? Thanks in advance!

Coldplayer

Just want them out of the way now, pain in the backside, and i know we are going to get screwed, just like the Cap 2's last year . . . .Argh

okdune

Student456 wrote: »

Would anyone have a copy of the Karglassco case that they could post? Thanks in advance!

Solution attached, hard copy of the question in the resource pack.

Why????

is any1 else just completely depressed right now??? Like seriously I'm actually verging on depression & crying constantly that i actually have to put myself through the 4 hours of sitting them torturing myself. Won't be sitting them next year if i don't succeed! So not worth it!

SL10

Were nearly there guys...this time next week we will all be out celebrating The main thing is not to stress too much over the next few days and remember that we dont need to be perfect to pass the exams. We will have our books with us in case we panic and completely forget something.

okdune

Has anyone done the Nick Millet question?

Is appendix 3 of the question not meant to be part of the solution!!!!???

silverwatch

Hi

Can anyone help me out with this year's mock comp qn Brilliant Bee?

In calculating the value of the 225 shares in BBL, the solution divides the calculation by 10,725. Is this correct? Where is the 10,725 coming from?

Thanks

acahopeful

Hi, its the 225 share plus the 10,500 shares already in existence... I think

Vaioer

Millet: Read it the whole way through, basically you take the Appendix as the first report and you only work on the requests for the "second report"

Mock: 10,000 shares is the original OSC, then 500 shares for the new CEO and 225 that they are offering the lad for his company.

steve_r

Looking through this solution now, it says repairs have been capitalised inncorectly in the Arms Hotel (the target co).

I've looked through the case and can't see any references to repairs, has anyone else came across this?

and to thoses that are losing motivation, try keep your spirits up, I'm sure many of the people who passed last year felt the same at this stage

okdune

Vaioer wrote: »

Millet: Read it the whole way through, basically you take the Appendix as the first report and you only work on the requests for the "second report"

Mock: 10,000 shares is the original OSC, then 500 shares for the new CEO and 225 that they are offering the lad for his company.

Designed to throw you off course I reckon.

Like the warranties section - you know do you think you need go into more detail, where it was an indicator now it isn't. The solution is grand - but the question is huge.....

mgsrocks

steve_r wrote: »

Looking through this solution now, it says repairs have been capitalised inncorectly in the Arms Hotel (the target co).

I've looked through the case and can't see any references to repairs, has anyone else came across this?

and to thoses that are losing motivation, try keep your spirits up, I'm sure many of the people who passed last year felt the same at this stage

Appendix 3 under Property Plant and Equipment. It says all costs are capitalised.

epm84

steve_r wrote: »

Looking through this solution now, it says repairs have been capitalised inncorectly in the Arms Hotel (the target co).

I've looked through the case and can't see any references to repairs, has anyone else came across this?

and to thoses that are losing motivation, try keep your spirits up, I'm sure many of the people who passed last year felt the same at this stage

Think it mentions capitalising repairs and renovations in the accounting policies in Appendix III

lucky01

Anyone pick up the tax indicator in Sim2 OBC from 2010 paper?

I noted the tax losses forward in silverturn and discussed it in considering the acquisition price but didnt treat it as a seperate tax indicator.


Ignore this!! just figured this out!

epm84

jobr wrote: »

Em please don't call it a terrible idea cos that's pretty much all I've been doing!

It's not like I'm gonna lift an answer straight out of a case study (chance would be a fine thing!) but I like the security of having a similar enough issue in front of me that I can get ideas from. Once you make it apply to the question you're being asked I don't see why it's such a bad thing!

Really feel this week like I'm just trying to make up the hours by sitting here and reading through stuff, don't have the patience to write out full answers & have stopped caring...just want them to be over!!!

That's literally all I'm doing between now and Tuesday - preparing a detailed case index, indicator by indicator. Too late in the day now to start learning technical stuff from text books and lecture notes. I've listed all the cases I can find or have heard of, and between this year and last year there are about 56 in total (comp and sim), although there are 3 or 4 I haven't managed to find the actual cases/solutions! Out of the 20-odd indicators in core, you would expect the majority of them to have been covered at least once in the 250 - 300 indicators in the samples/mocks/integrated cases etc... at least I hope so!

I heard of plenty of people relying on this method last year (myself included - to a certain extent!) and who passed (myself excluded - Business Leadership!!!). If anything, at least it'll save you some time as you'll know where to look.

Doing the same for the elective too.

Madeline M

In the 2010 comprehensive paper the directors loan (in current assets) is 500 and net assets are 2,889. So the loan is greater than 10% of net assets. Isn't this illegal??? Yet it isn't mentioned in the solution at all. Have I missed something??

steve_r

epm84 wrote: »

Think it mentions capitalising repairs and renovations in the accounting policies in Appendix III

Thanks - Forgot to turn the page!