FAE September 2012

ferike1

Community rocks!

We are now FAE and community friends!

haribo12

How did people find the tax elective today what indicators did people have ???

ferike1

I dunno but I heard audit was hard as hell.

Glad I picked APM

supernova84

ferike1 wrote: »

I dunno but I heard audit was hard as hell.

Glad I picked APM

APM is good pick ferike, I even got dat one a couple of years ago.

ferike1

Wasn't too bad. I'd be surprised now if I failed that one. It was very business leadership strategy style stuff.

Pawwed Rig

haribo12 wrote: »

How did people find the tax elective today what indicators did people have ???

Tough enuf. Make a mess of the VAT part of Q3

Szewinska

Pawwed Rig wrote: »

Tough enuf. Make a mess of the VAT part of Q3

very few on the forum today. what was a more tax efficient way in sim 2. lost on that one

Szewinska

ferike1 wrote: »

Wasn't too bad. I'd be surprised now if I failed that one. It was very business leadership strategy style stuff.

fair play. must be a nice feeling

ferike1

Szewinska wrote: »

fair play. must be a nice feeling

Sorry it didn't go as planned Szew....

Username2011

ferike1 wrote: »

Wasn't too bad. I'd be surprised now if I failed that one. It was very business leadership strategy style stuff.

Yep. Audit was ok too!

Szewinska

qs 1 was ok but the rest not great. thought the work id done

Szewinska

qs 1 was ok but the rest not great. thought the work id done might stand me in better position

ferike1

Man I heard from a friend today that there were people crying in the audit section.

Also this is absolutely mental - a friend of mine was saying that someone she works with passed the tax elective (which is advanced tax) and failed the core on tax...

that must be the ultimate stinger!

Szewinska

ferike1 wrote: »

Man I heard from a friend today that there were people crying in the audit section.

Also this is absolutely mental - a friend of mine was saying that someone she works with passed the tax elective (which is advanced tax) and failed the core on tax...

that must be the ultimate stinger!

sorry i didnt realise i posted twice on the phone. these exams are amazing. thats crazy about the tax person

ferike1

Amazing??? lol

Not quite the word I'd use!

Szewinska

incredible maybe more like it alright or horrendous.

looks like just me and you on here this evening. Are you going go for a drink this evening

ferike1

I am knackered! I might just stay in. I am out Saturday for sure though.

You?

Szewinska

yea i think so.

am off tomorrow so can rest on

Pawwed Rig

Szewinska wrote: »

very few on the forum today. what was a more tax efficient way in sim 2. lost on that one

Probably all out celebrating.
A direct gift saved a couple of hundred thousand compared to the trust as you can get the consanthing relief for Stamp duty and get the same event credit for CAT, CGT. Not sure if there was a better way or not
Bit surprised with the Exit tax question. Was not covered in the course at all

Accrual Intentions

We must be the only few sad fu<kers not on the drink now! I have to work tomorrow and I'm just too shattered.

I was doing Tax (NI) and today was another brutal day. Completely ran out of time. But its over now, out of our hands. Some of you have been a great help over last few months so thanks very much!

Don't forget to get that complaint email off to CASSI tomorrow, presumably they should email us about it. First day Comp was far too long and poorly organised.

Also, and I will seriously complain about this, there was an awfulamount of blue bottles flying about the exam hall in Belfast all week! Sounds stupid lol but it actually was a distraction having to swat them off the exam paper every 15 minutes - I'm seriously considering putting that in my complaint lol. Bad hygiene!

Szewinska

Pawwed Rig wrote: »

A direct gift saved a couple of hundred thousand compared to the trust as you can get the consanthing relief for Stamp duty and get the same event credit for CAT, CGT.
Bit surprised with the Exit tax question. Was not covered in the course at all

balls yea that was a good point. i kept trying go down route of a trust as thought he definitely wanted a trust of some kind. hence why i was hitting a wall on coming up with a better way.

I said there a be a clawback on the group parent as the foreign subsidiary was selling assets it held that had been exempt from on leaving residency.

Scuba_Steve84

Accrual Intentions wrote: »

We must be the only few sad fu<kers not on the drink now! I have to work tomorrow and I'm just too shattered.

I was doing Tax (NI) and today was another brutal day. Completely ran out of time. But its over now, out of our hands. Some of you have been a great help over last few months so thanks very much!

Don't forget to get that complaint email off to CASSI tomorrow, presumably they should email us about it. First day Comp was far too long and poorly organised.

Also, and I will seriously complain about this, there was an awfulamount of blue bottles flying about the exam hall in Belfast all week! Sounds stupid lol but it actually was a distraction having to swat them off the exam paper every 15 minutes - I'm seriously considering putting that in my complaint lol. Bad hygiene!

Ha i was in Belfast too, a bluebottle landed on my paper! Don't know what that says about the quality of my answers ....

Pawwed Rig

Szewinska wrote: »

balls yea that was a good point. i kept trying go down route of a trust as thought he definitely wanted a trust of some kind. hence why i was hitting a wall on coming up with a better way.

I said there a be a clawback on the group parent as the foreign subsidiary was selling assets it held that had been exempt from on leaving residency.

I was looking at the trust for about 15 min thinking wtf. None of the trusts made any sense as the children were too old already. It was just bad advice he had received from the previous accountant.

Yeah I found the exit tax in the book and figured it out from there but I honestly hd never heard of it before

Thank God they're over. It was easily the worst summer of my life. I thought CAP2 was bad but FAE is worse

Scuba_Steve84 wrote: »

Ha i was in Belfast too, a bluebottle landed on my paper! Don't know what that says about the quality of my answers ....

hahaha

ferike1

FAE is much worse. Last year when I failed audit and tax, it was because I spent so much time on the other subjects. I subsequently did every question I could find and they went grand.

This time. I could have had another 3 months study and felt exactly the same!

FAES are worse

Szewinska

Pawwed Rig wrote: »

I was looking at the trust for about 15 min thinking wtf. None of the trusts made any sense as the children were too old already. It was just bad advice he had received from the previous accountant.

Yeah I found the exit tax in the book and figured it out from there but I honestly hd never heard of it before

Thank God they're over. It was easily the worst summer of my life. I thought CAP2 was bad but FAE is worse


hahaha

i should have had more confidence in not going the trust route. I was afraid to discuss something at lenght if client against it but he did say he would listen to you.

me either flicking through book found it.

Scuba_Steve84

FAE is much worse. You could of done very little study all summer and do just aswell as someone who has worked their arse off! Don't think the papers really give you a chance to show what you know

Accrual Intentions

Szewinska wrote: »

i should have had more confidence in not going the trust route. I was afraid to discuss something at lenght if client against it but he did say he would listen to you.

me either flicking through book found it.

Sounds like ROI tax was very similarly structured to NI. Was this Joe Malone?

Szewinska

Accrual Intentions wrote: »

Sounds like ROI tax was very similarly structured to NI. Was this Joe Malone?

was joe malone yea. do you know his children fred and jenny?

ferike1

Not here

a) for most subjects very small amount of technical material comes up.
b) a lot of random **** comes up that isn't in any textbook and you have to think of specific answers
c) there is more waffle subjects than actual accounting.

Pawwed Rig

Haven't really been following this thread so maybe this was discussed but was in just me or were there 2 change management indicators yesterday? I ended up writing alot of the same points twice.