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FAE 2011 Where to begin

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    #1382
    ahtfulal
    Closed Accounts Posts: 282 ✭✭ahtfulal


    limklass2011 wrote: »
    Feck I did talk about this as I saw on my notes that some service industries apply..s****it plz god let the other tax stuff get me over..

    They'll not fail us on dis. As long as ya get green in BL and PM answering da other 4 areas have decent should be ok. Sure like there's an elective for tax and audit for tax and audit specialists.


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    #1383
    William Ralph Dean
    Closed Accounts Posts: 3 ✭William Ralph Dean


    dchitz wrote: »
    Yeah i included these aswell, completely forgot about manufacturing company stipulation....surely this isnt a straight red is it???

    Well if you think about it, it is completely wrong, so it's not 'competent' advice! I was sure that q was a tax indicator, but you've given the client totally incorrect advice... is that not the idea behind red lights??? Any ideas?


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    #1384
    RidiculousHair
    Closed Accounts Posts: 26 ✭RidiculousHair


    William Ralph Dean wrote: »
    Well if you think about it, it is completely wrong, so it's not 'competent' advice! I was sure that q was a tax indicator, but you've given the client totally incorrect advice... is that not the idea behind red lights??? Any ideas?

    Lads not sure its best to be doing the aul postmortems. Been beatin myself up over it since i got out early, even went so far as to jot down what i thought i got in each indicator, which frankly, is pretty sad. The fact is that none of us really know how we got on. Given the time constraints, it is quiet possible (likely in my case) that we all didn't answer things competently, missed things or just plain ran out of time. From talking to a few others, it seems that even if one or two things were left out (not addressed) or wrong advice given, the good points that we have all gotten down should hopefully net everything off. Besides, they do need to have a reasonable pass rate, so i would imagine the marking will adjusted to reflect all this.

    Just my few cents on the whole thing. Better off turning out attention to tomorrow - surely we'd all prefer to only have to repeat one exam...

    Anyho, best of luck to all tomorrow!:D


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    #1385
    limklass2011
    Registered Users Posts: 20 ✭limklass2011


    Sher heres hopin il get buy on other things, people can miss indicators and still pass overall, so I assume missing an indicator and wronf advice would = NA on marking..
    Theres sweet F all i can i do about it now except a whole lot of prayin til D day in Novemner..
    Onwards and upwards for tomorrow


    Agreed @ RidiculousHair - Best of luck to all with electives!!


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    #1386
    DaeryssaOne
    Registered Users Posts: 443 ✭✭DaeryssaOne


    Hey all, found today really really tough especially compared to yesterday which I thought was quite fair, hoping yesterday's paper will get me through!
    Just wondering if anyone wrote anything about marketing for the sim 1 today, I mentioned that with the bad publicity the charity would do well to get a pr firm involved to show the 'good' charity work they do etc. Is that totally off the wall?
    I'm cringing here thinking about how badly I did in sim 2 and 3, spent so long on the stocktake stuff I'm pretty sure I messed up the rest :-(


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    #1387
    CPJM
    Closed Accounts Posts: 20 ✭CPJM


    jobr wrote: »
    Hey all, found today really really tough especially compared to yesterday which I thought was quite fair, hoping yesterday's paper will get me through!
    Just wondering if anyone wrote anything about marketing for the sim 1 today, I mentioned that with the bad publicity the charity would do well to get a pr firm involved to show the 'good' charity work they do etc. Is that totally off the wall?
    I'm cringing here thinking about how badly I did in sim 2 and 3, spent so long on the stocktake stuff I'm pretty sure I messed up the rest :-(

    I mentioned it to cover my ass, but there wasn't much to go on, I don't think it was an intended indicator anyway. But sure everything helps!


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    #1388
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    William Ralph Dean wrote: »
    Did anyone talk about BES funding or seed capital funding (for Michael) in Sim 3??? They are definitely not entitled to it - would that be a red light if you advised them to take it??? I left the legislation in my car!

    I THINK I mentioned seed capital in my partnership -v- limited co answer, just that it is required that a company is "qualifying" and limited but that speciliast tax advice would be required to assess whether or not the new co qualifies. REALLY hope that doesn't screw me over.
    jobr wrote: »
    Hey all, found today really really tough especially compared to yesterday which I thought was quite fair, hoping yesterday's paper will get me through!
    Just wondering if anyone wrote anything about marketing for the sim 1 today, I mentioned that with the bad publicity the charity would do well to get a pr firm involved to show the 'good' charity work they do etc. Is that totally off the wall?
    I'm cringing here thinking about how badly I did in sim 2 and 3, spent so long on the stocktake stuff I'm pretty sure I messed up the rest :-(

    I said that once the new controls and IMS are implement they should consider communicating it in an attempt to restore faith in the charity, REALLY short, but just threw it in anyway cos it's impossible to know what they're looking for.


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    #1389
    Vaioer
    Registered Users Posts: 96 ✭✭Vaioer


    For those of us doing APM, here is an index I put together of the past exam questions.

    Unlike the Core, where the answers appear to be written with unlimited time and a text book, I think these answers were actually attempted to be written in the time, otherwise they are nowhere near HC in my view. Some of them are laughably bad to be honest.

    Let's hope they get bored and go with foreign NPV again. Have a bad feeling about transfer pricing, forex or some sort of eurobond though.


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    #1390
    FAEStudent1
    Closed Accounts Posts: 14 ✭FAEStudent1


    Rickyroma wrote: »
    Yep - free vouchers this year again - think there might be finger food too but don't hold me to that - from 5:30 in the Horseshow.

    Wheres the Horseshow? in RDS?


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    #1391
    Choc Chip
    Banned (with Prison Access) Posts: 1,442 ✭✭✭Choc Chip


    Anyone else finding it really hard to care about studying for tomorrow?

    If I fail core it'll be a result of f*cking-up time management all over the place rather than lack of technical ability. At this stage I just fancy a snooze and some deep heat for my poor hand. I'm so sick of guessing what's going to come up that I'm finding it hard to even look at my notes.


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    #1392
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    FAEStudent1 wrote: »
    Wheres the Horseshow? in RDS?

    Horseshow bar, pretty much directly across the road from the RDS


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    #1393
    Colts
    Registered Users Posts: 149 ✭✭Colts


    Choc Chip wrote: »
    Anyone else finding it really hard to care about studying for tomorrow?

    If I fail core it'll be a result of f*cking-up time management all over the place rather than lack of technical ability. At this stage I just fancy a snooze and some deep heat for my poor hand. I'm so sick of guessing what's going to come up that I'm finding it hard to even look at my notes.

    Tried to study for tomorrow earlier but after a few hours I was just falling asleep. I'll do a little in the morning but like you, just want it to be over!

    Find myself looking at cases for elective and picking out core indicators! Difficult to change the mind frame. A pint in the horse show afterwards tomorrow will go down well!


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    #1394
    eoferrall
    Registered Users Posts: 2,542 ✭✭✭eoferrall


    Hanley wrote: »
    Horseshow bar, pretty much directly across the road from the RDS

    its the horseshoe... sending them the wrong place for more free drink eh?? ;)

    Ethics indicator there!:pac:


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    #1395
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    eoferrall wrote: »
    its the horseshoe... sending them the wrong place for more free drink eh?? ;)

    Ethics indicator there!:pac:

    O RLY?! :D

    http://maps.google.ie/maps?q=rds&hl=en&ll=53.328502,-6.229291&spn=0.003793,0.011362&sll=53.437355,-6.762085&sspn=0.91952,2.90863&vpsrc=6&t=h&z=17&layer=c&cbll=53.328451,-6.229102&panoid=679b1JFoTf9tLW7p_AYNxQ&cbp=12,61.35,,0,8.16


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    #1396
    netpia11
    Closed Accounts Posts: 15 ✭netpia11


    100% failing on PM and if not PM stupid IMP left it till last both days...what a waste of a summer..


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    #1397
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Uh oh.... the audit fear just hit. Sh*t.


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    #1398
    eoferrall
    Registered Users Posts: 2,542 ✭✭✭eoferrall


    Hanley wrote: »
    O RLY?! :D

    http://maps.google.ie/maps?q=rds&hl=en&ll=53.328502,-6.229291&spn=0.003793,0.011362&sll=53.437355,-6.762085&sspn=0.91952,2.90863&vpsrc=6&t=h&z=17&layer=c&cbll=53.328451,-6.229102&panoid=679b1JFoTf9tLW7p_AYNxQ&cbp=12,61.35,,0,8.16
    :confused:

    Was sure the horseshoe last time I was there...:confused: maybe after leinster matches isn't the best time to be noting names!:D


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    #1399
    FitzDawg
    Registered Users Posts: 3 ✭FitzDawg


    eoferrall wrote: »
    :confused:

    Was sure the horseshoe last time I was there...:confused: maybe after leinster matches isn't the best time to be noting names!:D

    The Horseshow House is directly across the road. The Horseshoe Bar is in the Shelbourne Hotel.

    Audit me arse! :mad:


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    #1400
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    FitzDawg wrote: »
    The Horseshow House is directly across the road. The Horseshoe Bar is in the Shelbourne Hotel.

    Audit me arse! :mad:

    Yup. Sin e!!

    And LOL.... audit.... that's gonna be funny today.


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    #1401
    noveltea
    Registered Users Posts: 217 ✭✭noveltea


    Well I did the tax elective today.....and it was hard....did not have a clue for some items.


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    #1402
    Colts
    Registered Users Posts: 149 ✭✭Colts


    noveltea wrote: »
    Well I did the tax elective today.....and it was hard....did not have a clue for some items.

    Agree 100%. so much harder than last years paper, alot of the subjects weren't covered in the book or the lecture notes, ridiculous!


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    #1403
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Well that audit paper was strange...


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    #1404
    SL10
    Registered Users Posts: 263 ✭✭SL10


    I did the audit paper and thought it was horrendously hard! Much harder than anything I have seen elective wise before!

    But were finished :D Congrats all...time for some celebrating!


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    #1405
    Stey_9
    Registered Users Posts: 30 ✭Stey_9


    Agreed.....Thought auditing was impossible.......shocking paper....Glad to be finished thou


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    #1406
    ABCxyz 123
    Closed Accounts Posts: 16 ✭ABCxyz 123


    Thought audit elective was AWFUL! Internal controls so hard.... and use the stupid ISRE 2400 for SIM 1 so basically failed that whole sim!!!


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    #1407
    SL10
    Registered Users Posts: 263 ✭✭SL10


    ABCxyz 123 wrote: »
    Thought audit elective was AWFUL! Internal controls so hard.... and use the stupid ISRE 2400 for SIM 1 so basically failed that whole sim!!!

    What report were you meant to use...i was so confused by that so ended up using isae 3000


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    #1408
    Bansai
    Registered Users Posts: 40 ✭Bansai


    Tax paper was awful. Question 2 completly threw me, feels like a summer wasted now, i'll surely be back for attempt number 3 next year.


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    #1409
    ABCxyz 123
    Closed Accounts Posts: 16 ✭ABCxyz 123


    SL10 wrote: »
    What report were you meant to use...i was so confused by that so ended up using isae 3000

    Think agreed upon procedures but not sure!!


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    #1410
    limklass2011
    Registered Users Posts: 20 ✭limklass2011


    I sat audit n thought it was random out..i did the 3000 report one for Sim 1 but not sure..its all over for now so congrats lads n enjoy the sweet bliss of ignorance for next couple weeks til Nov :D


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    #1411
    No chance 11
    Closed Accounts Posts: 1 ✭No chance 11


    SL10 wrote: »
    What report were you meant to use...i was so confused by that so ended up using isae 3000

    I did as well.... Raging cus it did say in the FAE Audit book that it wasn't examinable. Used the ISRE 2400 stupidly...

    Just not sure as to how the electives are marked.. Would that pretty much rule out the whole paper cus its completely wrong??? :confused:


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