FAE September 2012

ferike1

The ACCA is better if only for the fact that the final papers are split into 5 papers, not 6 subjects in one. If you pass 2 and fail 1, you can redo that in 6 months, without having to repeat everything. Whereas here, you could fall down on one damn indicator and the following year fall down on another with no regard to the fact that you have already shown competancy in that indicator the previous year.

These exams are very very punishing.

BESman

rums08 wrote: »

Yes you can buy the revision materials separately.
I rang them yesterday in order to buy the Auditing and FR book.

Can anyone purchase these or do you have to be registered for the revision courses? I presume these are spiral bound revision packs, like Derry Cotter's for CAP 2 Financial Reporting? I think these would be useful for each of the Core subjects.

ferike1

Has anyone done EcoCartridges?

I would have thought there was an indicator with the implications of the owner of an audit firm wanting to invest in another firm.

figrolls

Does anybody have an up to date complete list case studies for core??

I know there was one a while back but im a bit lost with all the cases being posted....

thanks very much!

funkymonkey9

Has anyone done bay trading?in indicator one I don't understand why you have to communicate with the auditor before taking on the advisory engagement or why the partner would have to document why he feels he's independent?can anyone tell me where I might find guidance on this?we are not the auditor so es5 doesn't apply. On indicator 2,can anyone tell me what manufacturing margin is?why is it calculated as a cash inflow in the projections,also don't understand the formula revenues-margin * 20%? Thanks in advance

BESman

figrolls wrote: »

Does anybody have an up to date complete list case studies for core??

I know there was one a while back but im a bit lost with all the cases being posted....

thanks very much!

+1 for this. I don't know where people are pulling half the cases from being mentioned on here and if anything it's causing confusion. Obviously everyone is trying to help and the more the merrier but there can be dangers to this also.

The cases I'm using are those in the Resource Pack, the cases from the lecture days (Claddagh, Boyne etc.) and those from past papers/mocks/sample papers. I'll be doing well to get through 60% of these. Anything I'm using is available from the Student Portal.

It looks like from glancing through this thread that people are referring to the 2010 and 2011 Resource Pack which I think is a bit overkill but to each their own. It might be helpful if people could distinguish between 2012 cases and 2010/2011 cases. Also, throwing in elective cases without specifying that they're elective cases can be confusing.

There's enough confusion and material overload from the Institute, let's not make it worse ourselves!

froggatt2011

BESman wrote: »

The cases I'm using are those in the Resource Pack, the cases from the lecture days (Claddagh, Boyne etc.) and those from past papers/mocks/sample papers. I'll be doing well to get through 60% of these. Anything I'm using is available from the Student Portal.

It looks like from glancing through this thread that people are referring to the 2010 and 2011 Resource Pack which I think is a bit overkill but to each their own. It might be helpful if people could distinguish between 2012 cases and 2010/2011 cases. Also, throwing in elective cases without specifying that they're elective cases can be confusing.

Totally with you on all of the above. Perhaps we can keep the elective talk to the elective threads? I nearly had heart failure when I saw all the audit cases until I realised they were elective cases.

froggatt2011

funkymonkey9 wrote: »

Has anyone done bay trading?in indicator one I don't understand why you have to communicate with the auditor before taking on the advisory engagement or why the partner would have to document why he feels he's independent?can anyone tell me where I might find guidance on this?we are not the auditor so es5 doesn't apply. On indicator 2,can anyone tell me what manufacturing margin is?why is it calculated as a cash inflow in the projections,also don't understand the formula revenues-margin * 20%? Thanks in advance

Can't help you on the first two bits even though I was at the case day. Just shows you where my head has been at!
The 20% comes from him saying that he now generates between 15 - 25% margin from what I remember. It's an average.

chursy

figrolls wrote: »

Does anybody have an up to date complete list case studies for core??

I know there was one a while back but im a bit lost with all the cases being posted....

thanks very much!

There are 36 CAses from 2010/2011 - and about 21 odd cases in total for 2012 including everything. This is excluding any of your pastpapers/mocks etc .

funkymonkey9

froggatt2011 wrote: »

funkymonkey9 wrote: »

Has anyone done bay trading?in indicator one I don't understand why you have to communicate with the auditor before taking on the advisory engagement or why the partner would have to document why he feels he's independent?can anyone tell me where I might find guidance on this?we are not the auditor so es5 doesn't apply. On indicator 2,can anyone tell me what manufacturing margin is?why is it calculated as a cash inflow in the projections,also don't understand the formula revenues-margin * 20%? Thanks in advance

Can't help you on the first two bits even though I was at the case day. Just shows you where my head has been at!
The 20% comes from him saying that he now generates between 15 - 25% margin from what I remember. It's an average.

I understand where the average margin comes from for the product,but there's another manufacturing margin referred to of 20% in the case which is treated as an inflow in the calculations? Thanks for the reply :-)

Chalk_Farm

Has anyone attempted Primus Pet Foods yet? Im getting really annoyed because I can't understand where the figures have come from for "Direct cost of manufacture of product using average direct cost in division" in solution. Its essentially the Management Accounting indicator and whether they should accept offer from Supermarket chain (PI 1 in the solution).

Anybody any idea please!? Thanks

supernova84

ferike1 wrote: »

Has anyone done EcoCartridges?

I would have thought there was an indicator with the implications of the owner of an audit firm wanting to invest in another firm.

I didn't see that at first but now that you mention it I can see where your coming from. Could be a business relationship but maybe it's ok because it's an arm's length transaction. It's no harm to write something on it anyway just in case.
Thought that was a tricky case, not very clear what was required. The EBITDA calculation I would never had figured out. I also would have talked about directors responsibilities, ensure his directors loan not more than 10% of net assets, prepare a mission statement.
Nothing worse than a vague case, that's what really annoys me about these exams.

ferike1

supernova84 wrote: »

I didn't see that at first but now that you mention it I can see where your coming from. Could be a business relationship but maybe it's ok because it's an arm's length transaction. It's no harm to write something on it anyway just in case.
Thought that was a tricky case, not very clear what was required. The EBITDA calculation I would never had figured out. I also would have talked about directors responsibilities, ensure his directors loan not more than 10% of net assets, prepare a mission statement.
Nothing worse than a vague case, that's what really annoys me about these exams.

Yeah, I know what you mean. I was just looking at ES2 and it states that a partner can't have a financial interest in a firm he has influence in the audit over. Dude wants to be made director in both firms so that is a management threat right there and even if his partner conducts the audits he is still in a position to influence the audit. It just doesn't make sense. I took that route, I didn't even consider EBITDA as I said on these grounds the investment can't be accepted or have different auditors. Also the guy said he wanted this
"to how I describe the business and the risks in the report of the directors. I am not very good at that…could you include something in the letter for me to have a look at?"


And yet there was nothing in the solution about that, just the audit stuff.

supernova84

Twas a strange case was Eco. Ah well on to the next one. I think I'm getting better with the time management side of things anyway which is important. Last year exam had only 30 minutes left and a whole sim to start, schoolboy error.

EveT

how are people studying? just cases or 'technical material' too? I feel like im getting nowhere!

Am doing some cases, and then some days where I do technical so like FR cases from cotter book etc.

Dont feel know much more than I did 2 months ago though!

froggatt2011

EveT wrote: »

how are people studying? just cases or 'technical material' too? I feel like im getting nowhere!

Am doing some cases, and then some days where I do technical so like FR cases from cotter book etc.

Dont feel know much more than I did 2 months ago though!

Doing the same as yourself and in exactly the same boat. I only have study leave the week before the exams and am totally shattered by the time I get home in the evenings, so finding it really tough

Flange/Flanders

EveT wrote: »

how are people studying? just cases or 'technical material' too? I feel like im getting nowhere!

Am doing some cases, and then some days where I do technical so like FR cases from cotter book etc.

Dont feel know much more than I did 2 months ago though!

Im just pretty much doing case studies now from the resource pack and noting bits I've to look over. Gets frustrating tho at times because I get indicators the wrong way round. Like say Victoria, I thought the bit about the son was asking about how to deal with that in HR, turns out it was an auditing indicator.

Also, is it purely from boards that people are taking cases like ecocartridges? Its not in the resource pack or in the student centre or am I missing something?!

ferike1

There were additional cases posted. They should be uploaded here. Click the attachment on the thread. All attachments will come up.

Ha, Victoria. That was some case. Gambling and alcolism. Whoever writes the cases for the institute is a nutter.

chursy

Can someone upload the solution for

- Marlborough House
- People In Business

chursy

ferike1 wrote: »

There were additional cases posted. They should be uploaded here. Click the attachment on the thread. All attachments will come up.

Ha, Victoria. That was some case. Gambling and alcolism. Whoever writes the cases for the institute is a nutter.

Victoria what a case ! Though I didn't get half the points they mentioned in the solution lol- too detailed man!

costacurta

ferike1 wrote: »

There were additional cases posted. They should be uploaded here. Click the attachment on the thread. All attachments will come up.

Ha, Victoria. That was some case. Gambling and alcolism. Whoever writes the cases for the institute is a nutter.

How do i do that? Never knew i could do this

ferike1

costacurta wrote: »

How do i do that? Never knew i could do this

So before you click into this thread. In the accountancy forum look at the FAE 2012 thread. There should be a paper clip. Click that.
ALl attachments will come up.

I hate the little comments in the cases.

Like, oh I hate fish and this should be a long night.

Chalk_Farm

ferike1 wrote: »

So before you click into this thread. In the accountancy forum look at the FAE 2012 thread. There should be a paper clip. Click that.
ALl attachments will come up.

I hate the little comments in the cases.

Like, oh I hate fish and this should be a long night.

Yeah have to say I hate that b*&lsh*t too!

haribo12

what are people doing for imp? slide,the book or what

getting a bit worried bout amount of material in whole thing, would people that youd pick out most a the stuff with all the cases?

costacurta

ferike1 wrote: »

costacurta wrote: »

How do i do that? Never knew i could do this

So before you click into this thread. In the accountancy forum look at the FAE 2012 thread. There should be a paper clip. Click that.
ALl attachments will come up.

I hate the little comments in the cases.

Like, oh I hate fish and this should be a long night.

Thanks for your help! That's very handy.

haribo12

could someone put a list of all the cases they have in the core if at all possible?

rums08

costacurta wrote: »

How much were they, if you dont mind me asking?

The lady said they were €40 each. A bit steep, but hopefully worth it in the end!

rums08

Hey guys,

What are the topics to concentrate wrt to Audit CORE?

Anybody?

upnorthchick

Has anyone got the marketing n strategy infor re the online lecture for repeat students? Im not off to the 8th Aug - completely exhausted in the evenings after work.... flat out work load - so do not know how im gonna fair in sept!!!

R0N BURGUNDY

Chalk_Farm wrote: »

Yeah have to say I hate that b*&lsh*t too!

+1 Dave tells you, "Like man, it's so cool meeting you like this!"

Makes me want to stab my own leg with a pen