FAE September 2012

ferike1

Lol
Basically know everything.

Also the level of detail in those exams appears higher than just a standard level of knowledge. Just my opinion.

Sunnyli

Hi Can someone upload the solutions for following cases?

Bill Williams
Locust Coffee
Primus Pet Food
Talon Talents
Uniforms R Us


THANKS!!

06431755l

Fair play to all you that seemed to create some sort of logical answer to them cases but my God... i talked some amount of waffle!! Picked up majority of indicators but found it hard to relate it to an individual subject.

Had every book and folder around me and nothing could help.... like where on earth would you find differences between "limited by shares" and "limited by guarantee" bar Google?

I feel completely demotivated after them... I know we havent seen the solutions yet, but just feel there was very little technically difficult in them so very confused about how to prepare for Sept.

The original plan was to focus on tax/mgt/audit/fr for next week or two... but if take tax... big enough course and then might only be two lines on it in whole thing.

Convinced its just pure luck on the day now, either know it or you dont.

supernova84

06431755l wrote: »

Fair play to all you that seemed to create some sort of logical answer to them cases but my God... i talked some amount of waffle!! Picked up majority of indicators but found it hard to relate it to an individual subject.

Had every book and folder around me and nothing could help.... like where on earth would you find differences between "limited by shares" and "limited by guarantee" bar Google?

I feel completely demotivated after them... I know we havent seen the solutions yet, but just feel there was very little technically difficult in them so very confused about how to prepare for Sept.

The original plan was to focus on tax/mgt/audit/fr for next week or two... but if take tax... big enough course and then might only be two lines on it in whole thing.

Convinced its just pure luck on the day now, either know it or you dont.

Just from what I remember from last year there's a section in the student resource pack which explains the difference between a company limited by shares and company limited by guarantee.

ferike1

Fantastic, so we have to read all that nonsense in the resource pack too. God damn the institute to hell.

supernova84

Guys it's not a good idea to be getting frustrated by these exams. I've gone down that road before and you'll just end up getting totally demoralised and then not able to get the job done on the day.
Just do our best and hopefully things will work out for us. Remember that the pass rate for the core is around 75% so keep the head up.
Also the guys notes (who was placed last year) that were posted here a few weeks back are very good and I'd recommend as a starting point before attempting the cases. Best of luck with it!

siobhan4460

mock papers up on website

mrduffy

im sorry i took audit elective after mock paper i did not understand any of it

Moorstown

Canny Milking Equipment Limited

Has anyone got the solution to this case?

Also, can anyone give me a brief on what are the FINANCIAL REPORTING implications of CMEL - South Africa?

Thanks in advance.

Chalk_Farm

mrduffy wrote: »

im sorry i took audit elective after mock paper i did not understand any of it

Anyone else feel that standard of English left a lot to be desired in all cases over the mocks!!

Chalk_Farm

Moorstown wrote: »

Canny Milking Equipment Limited

Has anyone got the solution to this case?

Also, can anyone give me a brief on what are the FINANCIAL REPORTING implications of CMEL - South Africa?

Thanks in advance.

What paper is this??

ferike1

Sorry I know I've asked this before but how many indicators of the 18-23 are we expected to find and then subsequently get RC/C in?

Does anyone know?

Accrual Intentions

ferike1 wrote: »

Sorry I know I've asked this before but how many indicators of the 18-23 are we expected to find and then subsequently get RC/C in?

Does anyone know?

The actual accurate answer to that is only known to the examiners once all papers have been marked initially. Sorry but that is how it is!

What we are told however is that, for Business Leadership (Strategy, CGE, Marketing, HR & Change Management) and Performance Measurement you are expected to achieve the standard of Competent in these areas - this is the Depth Test.

For Tax, Audit, Information Management Principles and Finance you are expected to achieve the standard of Reaching Competent in these areas - this is the Breadth Test.

Then overall you are expected to pass the 'Sufficiency Test' this is where you must have gained a certain number of RC's and C's in all the indicators to pass - they don't work out what this is until they have initially marked all of the papers. Essentially this allows them to be very subjective and respond accordingly to how difficult or manageable the paper seems to have been received by the students.

Sorry that that is vague but thats just how it is!

ferike1

Appreciate the answer. The subjectivity behind it is very annoying.

upnorthchick

Pure luck lads !! and a money racket at that too.

Accrual Intentions

ferike1 wrote: »

Appreciate the answer. The subjectivity behind it is very annoying.

Yeah it is.

I'd be reluctant to advise what might achieve a pass in fear of being drastically wrong but if for example there are 20 indicators in total, 10 in Business Leadership and Performance Measurement and 10 in the rest. I think an aim might be getting 10 C's in BL & PM and 10 RC's in the rest, I can't imagine that couldn't get a pass? Afterall people have missed whole indicators (presumably receiving NA) in the exam and still managed a pass. We also know the institute said it is possible to get NC in the Financial Reporting assessment, an area where the required standard is C, and still be able to make that up in the exam to get a pass.

R0N BURGUNDY

Are you allowed to use highlighters in the exam? I used a highlighter in APM to basically insert workings for the 2nd NPV on top of the first layout. Good time saver tbh but don't know if that would be frowned upon.

ferike1

You know I think those mocks were of quite a high standard. I did one of the resource pack cases in the required time and came out with 4/5 indicators as competant.

Jame Gumb

Accrual Intentions wrote: »

ferike1 wrote: »

Appreciate the answer. The subjectivity behind it is very annoying.

Yeah it is.

I'd be reluctant to advise what might achieve a pass in fear of being drastically wrong but if for example there are 20 indicators in total, 10 in Business Leadership and Performance Measurement and 10 in the rest. I think an aim might be getting 10 C's in BL & PM and 10 RC's in the rest, I can't imagine that couldn't get a pass? Afterall people have missed whole indicators (presumably receiving NA) in the exam and still managed a pass. We also know the institute said it is possible to get NC in the Financial Reporting assessment, an area where the required standard is C, and still be able to make that up in the exam to get a pass.

I don't think that's correct...

There's no way that you've to get all competents in BL and PM...it's only if you've no "competents" that you're in trouble...same with Tax etc vis a vis "reaching competents".

My understanding is as follows:

- Say there are 5 PM indicators - 2 Cs, 2 RCs and an NC should be okay.

- Same for BL.

- Say there are 12 other indicators, with 3 for each other Super 6 subject. If you got 2 RCs in each and and an NC, you'd be grand.

Just my take - Could be wrong...

thebiggerlad

Does anyone have a breakout of the different ISA's and a description of each?
Would be very greatful and hoping someone from last year might have one made up.

Moorstown

Chalk_Farm wrote: »

What paper is this??

It was on the FAE Revision course.

Here is the attached paper.

I don't have the solution though???

mrduffy

need help to study audit and assurance in the core any tips on how to study this subject seems to be all reading ! Also need help of audit elective its the same all reading again I would love to know from some one competent with their studies on how to get to grips with it !

i am losing my sleep and i cannot sleep stress is now getting to me so much reading

chursy

mrduffy wrote: »

need help to study audit and assurance in the core any tips on how to study this subject seems to be all reading ! Also need help of audit elective its the same all reading again I would love to know from some one competent with their studies on how to get to grips with it !

i am losing my sleep and i cannot sleep stress is now getting to me so much reading

its a;; reading follow the lectures core and elective - jump to cases! but even then its all judgement pure luck this exam1!1

Eiriu

luco123 wrote: »

we were told by the lecturer ans cgs last year not to bother with the gmt book as it was far too detailed and would never be asked like that...... did they mention it on lectures this year? I dont think its worth iris while doing. plus u never mentioned business leadership in your above list which is very important.

Do you mean not to bother with the management accounting case study book? Yeah I know I should have mentioned business leadership in the above list, but it is more a case of learning of and does not require as much tacit knowledge as lets say management accounting, tax, FR, and finance. Although in saying that I do appreciate that business leadership needs as much work, maybe just not as much practice.

I remember when I studied strategy before in college, having examples of real world problems was extremely important, I wonder does that stand for FAE. I find the standard of business leadership material provided by the institute to be sub-standard to the texts we used at college, but I presume this is what they are looking for to be regurgitated in the exam.

ferike1

I find those little wisecracks and comments in the case studies really annoying for some reason. No relevance to the case just the examiner being a jackass.

:cool:

Accrual Intentions

Jame Gumb wrote: »

I don't think that's correct...

There's no way that you've to get all competents in BL and PM...it's only if you've no "competents" that you're in trouble...same with Tax etc vis a vis "reaching competents".

My understanding is as follows:

- Say there are 5 PM indicators - 2 Cs, 2 RCs and an NC should be okay.

- Same for BL.

- Say there are 12 other indicators, with 3 for each other Super 6 subject. If you got 2 RCs in each and and an NC, you'd be grand.

Just my take - Could be wrong...

It would be fantastic if you were right. I don't know.

But I wasn't suggesting mine was a minimum, just that that's what I'm aiming for and then I'm sure that it should be enough to pass.

Edit: Also, above you only have 4 C's in 22 indicators. There's absolutely no way that could pass the 'Sufficiency' test surely?

ferike1

From my understading you have to hit C a certain number of times in BL and PM. How many? Who knows

For the rest you have to hit RC/C.

Accrual Intentions

ferike1 wrote: »

From my understading you have to hit C a certain number of times in BL and PM. How many? Who knows

For the rest you have to hit RC/C.

And overall you also need to hit a combined total of C's/RC's as well, a figure we don't know.

Accrual Intentions

Having gathered all the cases that I can from the Institute's website and from the good people who have posted some up on here I seem to be missing the following and am hoping that someone might have them and could upload them for me if possible, thanks!

Cases:
- Daviddogood
- Firesec
- Flexum
- Ply4hire
- PrecisionCut

Solutions:
- Bill Williams
- UniformsRUs

God the institute do my head in. There are several cases listed in the contents page of my resource pack but aren't actually in the resource pack!

Jame Gumb

Accrual Intentions wrote: »

Jame Gumb wrote: »

I don't think that's correct...

There's no way that you've to get all competents in BL and PM...it's only if you've no "competents" that you're in trouble...same with Tax etc vis a vis "reaching competents".

My understanding is as follows:

- Say there are 5 PM indicators - 2 Cs, 2 RCs and an NC should be okay.

- Same for BL.

- Say there are 12 other indicators, with 3 for each other Super 6 subject. If you got 2 RCs in each and and an NC, you'd be grand.

Just my take - Could be wrong...

It would be fantastic if you were right. I don't know.

But I wasn't suggesting mine was a minimum, just that that's what I'm aiming for and then I'm sure that it should be enough to pass.

Edit: Also, above you only have 4 C's in 22 indicators. There's absolutely no way that could pass the 'Sufficiency' test surely?

I reckon you're right vis a vis the sufficiency test...