FAE September 2012

7upfree

Yeah it does. I'm after re adjusting my study plan about 10 times at this stage. I'm thinking by doing all the case studies that I can that even if there is stuff I don't know when I come across them I can look them up and have a better chance of remembering it.

It's so hard to gauge if I'm doing enough hours or not but I guess I can only do as much as my brain will allow.

funkymonkey9

Just wondering when people say they have all of the technical material done, do they mean in all subjects?

This has really worried me as I am no where near covering all of the technical info yet and haven't looked at BL and IMP as I am hoping to learn these through doing cases.

I had hoped to be on cases from this week but I find when I read them I realise I haven't covered so many areas so just end up studying! I'm finding tax and audit particularly time consuming.

Any advice from people who have all technical material done on how they covered these areas would be appreciated!

Freaking out now

7upfree

funkymonkey9 wrote: »

Just wondering when people say they have all of the technical material done, do they mean in all subjects?

This has really worried me as I am no where near covering all of the technical info yet and haven't looked at BL and IMP as I am hoping to learn these through doing cases.

I had hoped to be on cases from this week but I find when I read them I realise I haven't covered so many areas so just end up studying! I'm finding tax and audit particularly time consuming.

Any advice from people who have all technical material done on how they covered these areas would be appreciated!

Freaking out now

I've tried to cover as much as I can but I feel like I've been doing these subjects for ever i.e. college, cap 2 and find it very hard to keep trying to read the stuff. I think by even attempting the case studies and going through the answer you find out what you missed and then you learn it that way.

I failed my auditing cap 2 twice and for my third attempt I literally just did questions and it paid off.

This thread is great but when I see some of the questions people are asking I wouldn't even know to ask some of them so I can safety say you are not the only one freaking out.

hubert_ie

funkymonkey9 wrote: »

Just wondering when people say they have all of the technical material done, do they mean in all subjects?

This has really worried me as I am no where near covering all of the technical info yet and haven't looked at BL and IMP as I am hoping to learn these through doing cases.

I had hoped to be on cases from this week but I find when I read them I realise I haven't covered so many areas so just end up studying! I'm finding tax and audit particularly time consuming.

Any advice from people who have all technical material done on how they covered these areas would be appreciated!

Freaking out now

This is my second crack at the FAE CORE, i only got a RC in my assessment last year and I ultimately failed that indicator. The way I am approaching it at the moment is that I am spending 80% of my day on case studies. This will then form the core of my material that I will need in the exam. There are so many case studies that I am hoping that by the end of them I will have effectively have covered all the technical stuff. From doing this last year I do think that BL, IMP and Finance can pretty much be done through doing the case studies. Tax and PM may take a bit of time to do separately though as these 2 are quite technical. The same can kinda be said for audit.

BL seems to be mostly being able to think on your feet in a given situation so this is hard to prepare for. I think by attempting to answer these BL indicators through the case studies might be the best approach.

Is anybody doing anything different than myself ? Or can anybody point out any flaws ? I am obv concentrating more on PM this year....

Apollo_Creed

Hey guys,
Just started the case case studies this week and need a little advice.
I would say that I have most of the course covered however, the case studies so far have been a disaster.
Finding the indicators alright but basically, finding it very hard to relate the information in the cases to the notes, which means that I usually go off on a tangent which is usually totally different to the solution.
At this stage, starting to lose heart with my 'tangents', and basically just reading the solution after about 20/30 min.
On reading the solutions, I feel I understand them but even still would have trouble pin pointing where in the notes.

Could be a case that concentration is low, so gonna have to work on that.

Definetly the most dis-heartening exams I have ever studied for.

Also, I am studying without a plan at the moment in relation to the case studies (never drew up a study plan in my life).
Are people picking out random cases and doing them or following certain topics.

Thanks.

froggatt2011

Guys, has anyone done Second String Ltd yet?

I wonder if anyone can help me with the wording of the solution to indicator 3. Maybe I'm being completely dense but I don't understand what they mean by "There is no fundamental error in that the work proposed is realistic within two days. If there is a fundamental error the candidate is classed within NC".

Help!

Jame Gumb

froggatt2011 wrote: »

Guys, has anyone done Second String Ltd yet?

I wonder if anyone can help me with the wording of the solution to indicator 3. Maybe I'm being completely dense but I don't understand what they mean by "There is no fundamental error in that the work proposed is realistic within two days. If there is a fundamental error the candidate is classed within NC".

Help!

If your suggestions couldn't be undertaken within the proposed two day timeframe, you've made a fundamental error and will be deemed nominally competent.

ferike1

Hey, our managers give us plenty of work that can't be done in two days but they say it can! Are they NC too?

faer2203

hey,

Just wondering does anyone know what the story is with exceptional items, i know that you cant use them anymore under ias1 but does that mean it has to be included in some other cost line and then give a disclosure on it?

froggatt2011

Jame Gumb wrote: »

If your suggestions couldn't be undertaken within the proposed two day timeframe, you've made a fundamental error and will be deemed nominally competent.

Ahhh I get it. Thanks for that mucker.

ferike1 wrote: »

Hey, our managers give us plenty of work that can't be done in two days but they say it can! Are they NC too?

figrolls

Has anybody done the 2011 core sim - internationa tiles?

It says in the solution that the the inventory should not be adjusted for changes in FX in line with IAS 21

However IAS 2 states that inventory should be the lower of cost and nrv, and for FX items NRV should be valued at spot rate at reporting date - so should the reduction in value as a result of the exchange rate not have been reflected in the FS???

very confused....

Username2011

figrolls wrote: »

Has anybody done the 2011 core sim - internationa tiles?

It says in the solution that the the inventory should not be adjusted for changes in FX in line with IAS 21

However IAS 2 states that inventory should be the lower of cost and nrv, and for FX items NRV should be valued at spot rate at reporting date - so should the reduction in value as a result of the exchange rate not have been reflected in the FS???

very confused....

You don't revalue inventory at the BS date. You would recognise the fx when the inventory is sold

Jame Gumb

Username2011 wrote: »

figrolls wrote: »

Has anybody done the 2011 core sim - internationa tiles?

It says in the solution that the the inventory should not be adjusted for changes in FX in line with IAS 21

However IAS 2 states that inventory should be the lower of cost and nrv, and for FX items NRV should be valued at spot rate at reporting date - so should the reduction in value as a result of the exchange rate not have been reflected in the FS???

very confused....

You don't revalue inventory at the BS date. You would recognise the fx when the inventory is sold.

Has anyone looked at the GLOBALTECH case?
It says that a tax deduction may be obtained on interest paid on money borrowed to finance the purchases of shares.
Is this correct?
I have last years solution and think this might have changed.

Thanks

Is it an individual or a company buying the shares?

If it's an individual, there's no relief for post December 2010 transactions. Relief for interest on pre December 2010 loans is being phased out (think it's 75% of the interest for 2011, 50% for 2012, 25% for 2013 and zero thereafter).

Top of the head answer though - You should double check.

mrduffy

what are yee taking for energy to keep brain alert ? tireness is killing me

froggatt2011

faer2203 wrote: »

hey,

Just wondering does anyone know what the story is with exceptional items, i know that you cant use them anymore under ias1 but does that mean it has to be included in some other cost line and then give a disclosure on it?

This is my understanding of it. An exceptional item can be shown as a standard line item in the I/S but to clarify the nature and amounts which make up the line item a disclosure should be made in the notes. So if you are posting to Profit or Loss on Disposal a number of times in the year, you disclose the make up of that item.
If the item is material then a separate disclosure should be made as an additional line item.

froggatt2011

mrduffy wrote: »

what are yee taking for energy to keep brain alert ? tireness is killing me

Trying to lay off caffeine and stick to drinking lots of water and eating as well as I can. Also taking the herb rosemary as it's supposed to be good for memory. I need all the help I can get...

Work today then two cases done half assed this evening ... I need my pit now.

BESman

I find myself suddenly becoming the biggest Olympics fan ever. I wonder has that something to do with the fact that I will do anything to avoid studying?

upnorthchick

haha of course it is... its like the tennis back at cap2 time lol

chursy

faer2203 wrote: »

hey,

Just wondering does anyone know what the story is with exceptional items, i know that you cant use them anymore under ias1 but does that mean it has to be included in some other cost line and then give a disclosure on it?

I came accross this in one of the cases as far as i remember - in line with IAS 1 if its a material item you disclose it on the face of the financial statements with a description in notes..

I presume you have to choose a suitable caption for it . Hope that helps

haribo12

does anyone know how to get in order all the documents and cases that were posted to this site so that i can print them off thanks

7upfree

froggatt2011 wrote: »

mrduffy wrote: »

what are yee taking for energy to keep brain alert ? tireness is killing me

Trying to lay off caffeine and stick to drinking lots of water and eating as well as I can. Also taking the herb rosemary as it's supposed to be good for memory. I need all the help I can get...

Work today then two cases done half assed this evening ... I need my pit now.

I take a tonic called fosfur the box it's in is blue and yellow. As far as tonics go it actually tastes fine,

Fish oils are meant to be very good aswell for the brain.

supernova84

The Bay Trading Ltd case doesn't really scream out 'attempt me' does it? I think I'll come back to that one.

supernova84

haribo12 wrote: »

does anyone know how to get in order all the documents and cases that were posted to this site so that i can print them off thanks

I think if you click on the attachment icon to this thread they'll only appear alphabetically. You might be better just quickly going through each page yourself so you don't miss anything.

figrolls

Does anybody know where I could get some decent notes or a website or something for lifecycle costing?

Its specifically mentioned on the competency statement however theres only half a page on it in clarkes book...

thanks in advance!

mrduffy

Sample paper 1
comprehensive
Indicator 1

Gearing ratio, equity has included a + €1830. Can some one explain where it comes from ?

I will try to answer peoples questions here also but I have limited knowledge

Jame Gumb

Jesus, the Victoria case is like an episode of Dr Phil...alco's and gambling addicts.

Dear Sir,

I resign.

Yours etc,

A Student

ferike1

Ha, yeah, you are not a psychologist for crying out loud.

Half the cases are so out there and in areas I would never ever even dream of working.

Beckymc85

Does anyone have a copy of the following case studies:
Greenhomes
Jones Fine Furniture
Telco
Runways
NatureFlame Boilers
Ply4Hire

And the case study and solution for:
Overcoatings

Thanks

Butterflyguy

Hey, has anyone done O'Reilly Mortgages?

Is there not a very obvious change management indicator in the final paragraph of Appendix one (on page 2)?

It is not mentioned in the solution.

Also - is there not some reference to a corporate governance indicator in that there is no remuneration committee? Also not mentioned in the solution.

I seem to always find too many indicators in these feckin cases, and am always very pressured for time as a result.

chursy

Guys

I have these black and white foods exercise solutions - Is there is a case for this. Paul mentioned about these in his wrap up lecture - Its on business plans etc.?

Does anyone have questions for this