FAE September 2012

ferike1

Well next year I wouldn't take any study leave. Max a week or something. No point. The 3 months didn't help.

Chalk_Farm

Little Pea wrote: »

Both my undergrad and my M.acc give me all the exemptions. i just didn't realise that you had to pay €500 to apply for them. I had a look at P1 and P2 and I reckon I could do both with a few weeks studying at nights.

FR I am pretty handy with and I wrote my dissertation on corporate governance.

Yeah I'm masters so will that leave me in a good position!?

chursy

ferike1 wrote: »

Well next year I wouldn't take any study leave. Max a week or something. No point. The 3 months didn't help.

Ferike no offence with a week you will definitely fail man. The share amount of volume that needs to be captured is insane!!! A week for an ACCA module would be grand!

chursy

Lads a total gamble my stakes are like 500 pounds for the exemptions....Now i would rather risk 500 pounds then a year with the CAI thats my take on it!

ferike1

My only worry is that my firm will make me take the FAEs again anyway. So do the acca's now and June, (most probably pass) and then I would still have to do the FAEs again lol.

Haha, maybe a 3 weeks then. But the 3 months didn't help more...

20 Times 20 Times

ferike1 wrote: »

My only worry is that my firm will make me take the FAEs again anyway. So do the acca's now and June, (most probably pass) and then I would still have to do the FAEs again lol.

I start my contract next few weeks. Can someone advise me when I start my FAE classes, baring in mind I have the Cap1/2 exemptions. The reason I am asking is would I be better off doing some of these ACCA exams next year in the June and December sittings ? I could easily get 4 exams done in them two sittings with no pressure.

ferike1

If you have exemptions you have to work a year before doing FAE classes. So in theory you could do your ACCAs in December and June and then tell your firm you have no exams to do come next year (once you have passed)

20 Times 20 Times

ferike1 wrote: »

If you have exemptions you have to work a year before doing FAE classes. So in theory you could do your ACCAs in December and June and then tell your firm you have no exams to do come next year (once you have passed)

Seems like the best idea really. Work up quiet a bit of over time , take as holidays to study and pass everything. Hmmmmmm I find it hard to see why everyone doesnt do this ?? Seems too easy.

ferike1

They don't think about it. Just do what they are told and don't look into their options.

20 Times 20 Times

ferike1 wrote: »

They don't think about it. Just do what they are told and don't look into their options.

Well I think its very prudent not to put all my eggs in one basket. Ha I might just take all these exams next year. By the sounds of things I will work up enough overtime to take as time in lieu for studying anyway.

I am sure I wont be the first and the last.

ferike1

Nah, you could do 2 exams in Dec. And the 3 in June.

Also people might not do it because they don't have all the acca notes like some of us They don't want to pay from their own pocket etc.

20 Times 20 Times

ferike1 wrote: »

Nah, you could do 2 exams in Dec. And the 3 in June.

Also people might not do it because they don't have all the acca notes like some of us They don't want to pay from their own pocket etc.

you have all the ACCA notes ?? Can we exchange please :-D

chursy

ferike1 wrote: »

Nah, you could do 2 exams in Dec. And the 3 in June.

Also people might not do it because they don't have all the acca notes like some of us They don't want to pay from their own pocket etc.

Well another way of looking at is, you pass you ACCA exams - get the leave and the time off and portray that you are preparing for Faes !!! party somewhere for three months on the paid leave come back and fail!!! lol

Get the second attempt - Take the leave come back and fail again!!!....once your training is up you are qualified anyways so it doesn't matter does it!

Its all about the strategic analysis!! ( BL)

20 Times 20 Times

chursy wrote: »

Well another way of looking at is, you pass you ACCA exams - get the leave and the time off and portray that you are preparing for Faes !!! party somewhere for three months on the paid leave come back and fail!!! lol

Get the second attempt - Take the leave come back and fail again!!!....once your training is up you are qualified anyways so it doesn't matter does it!

Its all about the strategic analysis!! ( BL)

This made me LOL !!! Great advice hahahahha .

BESman

It's common for people to have both ACCA and ACA. Some Big Four partners have both. Not sure why you would bother unless you're struggling to pass one or the other. I'll wait for results and weigh up options then.

aca101

chursy wrote: »

Well another way of looking at is, you pass you ACCA exams - get the leave and the time off and portray that you are preparing for Faes !!! party somewhere for three months on the paid leave come back and fail!!! lol

Get the second attempt - Take the leave come back and fail again!!!....once your training is up you are qualified anyways so it doesn't matter does it!

Its all about the strategic analysis!! ( BL)

Daft idea....you'd get a few weeks max as study leave for your second attempt (some of which would probably be unpaid leave) meaning that in all likelihood you'd fail the exams. At which point you'd be promptly given your P45 with a boot up the arse. Which is all well and good if it was your intention to leave at the end of your contract anyway but what if you discovered towards the end of your contract that you actually liked your job and wouldn't mind staying on for a while after your contract.

Granted most people aren't keen to stay on post-contract but to advise someone who hasn't even started working yet to intentionally fail their exams and hence guarantee they won't be kept on is absolutely ludicrous. That's before even trying to explain to future employers why you didn't pass a single exam while in contract. I can understand the anti-CAI stance from everyone but this kind of talk is laughable.

chursy

It was obviously meant to be laughable ! your sense of humour demonstrate that you certainly are an accountant!

On another note, there is no harm in using the firm to your advantage, when the firms treat the "trainees" to their advantage all the time! The moment you fail an exam there will be zero sympathy or explanation requested that why you failed an exam!you would simply be given the boot if you are in breach of your contract! Also the economic circumstances dictate the situation as well. In 2010 i dont know anyone who was kept on but last year there were people in KPMG for sure who were kept on despite they failed their FAE and offered a year extensions ( not all again). Certainly these people will get the boot this year if they don't make it.

It makes perfect sense for someone who has done a masters to certainly do the ACCA exams in two attempts! you have nothing to loose!

Am I Competent!

ferike1

Chursy, in my eyes you are HC

Szewinska

would pay alot of money to guarantee a pass in these exams. never imagined after 2 months study they would have been that bad

ferike1

Well I would forgo my passing bonus to pass. Since I wouldn't get it if I had to redo them anyway. Just so I never have to deal with this bs again!

Chalk_Farm

How come the exemption thingy on the ACCA website says that I am only exempt from the FIA exam? I did many accounting subjects in my undergrad (did not specialise in the accounting stream) but also did the Masters in ACC so should I not have more ACCA exemptions!?? cheers

Chalk_Farm

Ah think I get it, so I would only do the professional level exams so that would be a total of 5!?

I know it would be so much worth it compared to that hell of repeating the FAE but am I right in saying that for each exam you are exempt for you will pay a fee. So basically you will be paying 14 exam fees (the 9 exemptions plus the 5 professional and then the application fee)...gonna be expensive!! That said it still is appealing, I'd almost pay not to do that FAE exam again.

chursy

Chalk_Farm wrote: »

Ah think I get it, so I would only do the professional level exams so that would be a total of 5!?

I know it would be so much worth it compared to that hell of repeating the FAE but am I right in saying that for each exam you are exempt for you will pay a fee. So basically you will be paying 14 exam fees (the 9 exemptions plus the 5 professional and then the application fee)...gonna be expensive!! That said it still is appealing, I'd almost pay not to do that FAE exam again.

Yes u will be paying for the exemptions plus the three exams

Chalk_Farm

I think I'll aim to do the June exams next year but I went through the registration process to a certain point just to see what it was like...it's funny because when I did a search for the MACC before starting the application through the enquiry section it said that I was exempt from all Fundamental subjects but when I was going through the application it said I was exempt from F1 to F8 but not F9, doesnt make sense...especially given that I did an exam in Finance at masters level but there was no option to tick Finance. Think I might get in touch with them 2m. Anybody know if that's right?

Don't forget everyone to fill in the CAI survey...deadline 2m

PatACA

ferike1 wrote: »

Well I would forgo my passing bonus to pass. Since I wouldn't get it if I had to redo them anyway. Just so I never have to deal with this bs again!

the exam technique would have got you across the line.:)

ferike1

PatACA wrote: »

the exam technique would have got you across the line.:)

Thanks for that!

PatACA

ferike1 wrote: »

Thanks for that!

Pawwed Rig

PatACA wrote: »

the exam technique would have got you across the line.:)

I am confused by your post. Are you a representative of the ICAI or are you arguing against the concerns people here have expressed with the whole FAE exam structure?

shery

While I am sure most of you are up-to-neck with all the FAE talk and post exam stress, I am just wondering how much do you guys think is enough to get an RC in tax indicator of core exam.

I suppose there is some debate as to how many indicators were there. Some believe there were 2 (1 in the second sim and 1 in the thirs sim ref PAYE/PRSI error) while some suggest that indicator in sim 2 was the only main tax indicator. Irrespective, would anyone know or comment on how much is 'enough' to get you through the RC door? I suppose the mere spotting of an indicator gets you to an NC stage but how much detail would 'RC' warrant?

For instance, would an overall analysis of share vs asset sale (pros and cons) without getting too much into calculations, mention of participation exemption (I know there has been debate around whether this would apply), double tax charge for asset sale, possible clawback of CT/CGT if they were historically loss sharing/CGT group, recommendation of getting a specialist advise and giving your recommendation (whatever it may be) be enough to get you to RC?

Elvis2012

In a similiar boat myself Shery. My answer was similiar to yours by the sound of it. I am hopefully I think alot of peolpe missed the Paye Indicator so they might mark the assets v shares a alittle easier. Fingers crossed!!