FAE September 2012

MPBC123

FAE_UCH wrote: »

What are people going to do for timing on the Sims day?

I'm thinking of picking the longest case (It's ridiculous that we don't know how long the cases will be) and spending the half hour reading time preparing my answer for that sim.

I've heard people are gonna read all 3 of them all for the half hour I just think I'll get confused between the cases and will have to read them all again.

Anyone any thoughts?

Yea I found it impossible to read all 3 in the 30mins during the mocks. Information overkill and very confusing. Spending the reading time on one case tho mite not leave enough time for the other cases.

EveT

MPBC123 wrote: »

FTSE 350 is an index of the weighted average price of the stock exchanges largest 350 companies, I don't think we will be dealing with these in the cases. If an IPO comes up I will be recommending AIM. Can't see it coming up tho as it was on last years paper.

i was just thinking about it from perspective of if they gave us a listed Co, how do we know for CG if its small or not, maybe theyd be clear on if its FTSE 350 or not, like a case with maybe corp gov, EPS, segmental reporting sort of thing, id say maybe theyd make it clear but I dunno.

MPBC123

Maybe by looking at their turnover & profits might give an indication. Not sure tho.

EveT

FAE_UCH wrote: »

What are people going to do for timing on the Sims day?

I'm thinking of picking the longest case (It's ridiculous that we don't know how long the cases will be) and spending the half hour reading time preparing my answer for that sim.

I've heard people are gonna read all 3 of them all for the half hour I just think I'll get confused between the cases and will have to read them all again.

Anyone any thoughts?

I think Ill do the same as this, we have to do them all anyway, just have to be super strict on the timing, and not to run over on the first one and be playing catch up for the rest of the paper

Siobhang4

luco123 wrote: »

anyone have the tax elective updated papers.... im repeating so have no access to them..... third time posting this.... pretty please!!

there is a seperate thread for the tax elective.. doesn't seem to be used much however the updated solutions are all attached there...

luco123

MPBC123 wrote: »

luco123 wrote: »

anyone have the tax elective updated papers.... im repeating so have no access to them..... third time posting this.... pretty please!!

Roi or Ni?[/Quote

roi!

Elle2012

Did anyone figure out how the b/even was calculated in Locust?

Thanks

luco123

Siobhang4 wrote: »

luco123 wrote: »

anyone have the tax elective updated papers.... im repeating so have no access to them..... third time posting this.... pretty please!!

there is a seperate thread for the tax elective.. doesn't seem to be used much however the updated solutions are all attached there...

i posted a thread on that and go no reply... the solutions attached there are all the cases from the books... im looking for the actual past exam papers and solutions which have been updated in 2012.

Siobhang4

luco123 wrote: »

i posted a thread on that and go no reply... the solutions attached there are all the cases from the books... im looking for the actual past exam papers and solutions which have been updated in 2012.

the tax papers are included in the board reports.... see attached link... don't think the other papers are updates.. but the mock for 2011 is on the attachements to this link.


http://students.charteredaccountants.ie/Student-Information/Exams/Papers-Solutions-Reports/Solutions/FAE-New/

notanocelot

EveT wrote: »

FTSE 350 company is through the Code, but what is a FTSE 350 company?! googled it and cant find capitalisation amounts etc.

It's just the biggest 350 listed on the Financial Times Stock Exchange. We'll always be told exactly what category a company is in or at least where it's listed so I don't think you need to worry.

FAE_UCH wrote: »

What are people going to do for timing on the Sims day?

I'm thinking of picking the longest case (It's ridiculous that we don't know how long the cases will be) and spending the half hour reading time preparing my answer for that sim.

I've heard people are gonna read all 3 of them all for the half hour I just think I'll get confused between the cases and will have to read them all again.

Anyone any thoughts?

Reading them all is definitely the way to go. What I did for the mocks (didn't pass or anything, but I got decile 1) was:

1)read Sim 1 carefully, scribble down its requirements/indicators, any thoughts I had and a few bullet points, then do the same for Sim 2 and 3. This took about 45 minutes.

2) Do the Sims in order of which seemed more straightforward, reducing the time I allowed myself because rough work was already started.

I did need to read them again, but this time I knew exactly what I was looking for because I'd written down the indicators. So rereading took 2 minutes max.

Siobhang4

notanocelot wrote: »

It's just the biggest 350 listed on the Financial Times Stock Exchange. We'll always be told exactly what category a company is in or at least where it's listed so I don't think you need to worry.



Reading them all is definitely the way to go. What I did for the mocks (didn't pass or anything, but I got decile 1) was:

1)read Sim 1 carefully, scribble down its requirements/indicators, any thoughts I had and a few bullet points, then do the same for Sim 2 and 3. This took about 45 minutes.

2) Do the Sims in order of which seemed more straightforward, reducing the time I allowed myself because rough work was already started.

I did need to read them again, but this time I knew exactly what I was looking for because I'd written down the indicators. So rereading took 2 minutes max.

Did you make the notes on rough work (separte sheets with indicator listed) or on exam book

notanocelot

Siobhang4 wrote: »

Did you make the notes on rough work (separte sheets with indicator listed) or on exam book

I made the initial notes on the exam paper. There's lots of room on the tops and margins for little lists and bullet points. Also, circling words on the question ("client also wants you to look at XYZ", that sort of thing) and drawing arrows to the little bullet points. Started at the start of reading time and finished about 45 minutes later.

There's no point starting to write out an answer until you're pretty sure what you're going to write.

ferike1

Did the sims paper today 2011. Definitely more straightforward than the mocks and the resource pack cases.

MPBC123

2011 mock sim 2 - devaney car parts - how are the latent gains calculated?

costacurta

Dear god that Derry cotter financial reporting book is driving me to depression! Is it just me or is every single case well above the standard we might be asked?

Having similar problems with the management accounting cases too!

notanocelot

costacurta wrote: »

Dear god that Derry cotter financial reporting book is driving me to depression! Is it just me or is every single case well above the standard we might be asked?

Having similar problems with the management accounting cases too!

Bad news is they're not above the standard (check out government grants in New Line plc case study for some truly knotty FR).

Good news is that it's more manageable when you only have one chunk of FR to deal with at a time, like in the exam. A Derry Cotter q is 4 or 5 indicators all wrapped up in one.

BESman

Anyone notice in the 2012 Core Mock, the Prima Bank letter is sent from Xavier T Ortion, i.e. extortion. Are the Institute actually trying to send us cryptic clues in the cases???

supernova84

BESman wrote: »

Anyone notice in the 2012 Core Mock, the Prima Bank letter is sent from Xavier T Ortion, i.e. extortion. Are the Institute actually trying to send us cryptic clues in the cases???

That's a good one. Maybe our friend from Locust Bill Williams will appear on the scene with another of his not so bright ideas.

BESman

supernova84 wrote: »

That's a good one. Maybe our friend from Locust Bill Williams will appear on the scene with another of his not so bright ideas.

I've never seen so many references to one case, I'm actually looking forward to doing Locust Coffee.

aSmile

EveT wrote: »

i was just thinking about it from perspective of if they gave us a listed Co, how do we know for CG if its small or not, maybe theyd be clear on if its FTSE 350 or not, like a case with maybe corp gov, EPS, segmental reporting sort of thing, id say maybe theyd make it clear but I dunno.

I think you're over thinking this as I'm not sure we need to know the fundamentals of what a FTSE 350 company is. I believe it's safe to assume the case will only encompass an Irish company....and if it is public it is automatically considered a 'large' company (regardless of FTSE status) for the provisions of the UK Code per the Irish Annex ie the key point of the annex is that any company listed on the ISEQ no longer qualifies as a small company under the code. Therefore we can probably safely assume....private = small company provision; public = large company provisions due to Irish Annex. Let me know if I'm wrong though!!!

Siobhang4

In the Active Health Case SP1 in the financial ratio performance where are they getting the 1830 in the solution.

Jame Gumb

If a company's bigger than Locust Coffee, it's FTSE 100...if it's smaller than Locust Coffee, it's FTSE 350.

EveT

aSmile wrote: »

I think you're over thinking this as I'm not sure we need to know the fundamentals of what a FTSE 350 company is. I believe it's safe to assume the case will only encompass an Irish company....and if it is public it is automatically considered a 'large' company (regardless of FTSE status) for the provisions of the UK Code per the Irish Annex ie the key point of the annex is that any company listed on the ISEQ no longer qualifies as a small company under the code. Therefore we can probably safely assume....private = small company provision; public = large company provisions due to Irish Annex. Let me know if I'm wrong though!!!

great thank you!

MPBC123

Just after reading brilliant bee - has anyone attempted this case yet? What's your thoughts? I'm hoping the real exam is not as difficult otherwise I'll never pass!!

figrolls

Is anybody else feeling completely disheartened and demotivated??

I feel like no matter how much I do it still wont be enough and that theres no point even trying any more

I read a case study pick out some indiators and write some bullet points on them, then read the solution and realie I never would have passed, and I dont seen to be getting any better either after all this time and now time is running out with just over 3 weeks....

I feel like just giving up

Sorry, rant over

MPBC123

figrolls wrote: »

Is anybody else feeling completely disheartened and demotivated??

I feel like no matter how much I do it still wont be enough and that theres no point even trying any more

I read a case study pick out some indiators and write some bullet points on them, then read the solution and realie I never would have passed, and I dont seen to be getting any better either after all this time and now time is running out with just over 3 weeks....

I feel like just giving up

Sorry, rant over

Know exactly how your feeling!! I'm not getting enough detail in my answers & can't see how I will either on the day!

7upfree

figrolls wrote: »

Is anybody else feeling completely disheartened and demotivated??

I feel like no matter how much I do it still wont be enough and that theres no point even trying any more

I read a case study pick out some indiators and write some bullet points on them, then read the solution and realie I never would have passed, and I dont seen to be getting any better either after all this time and now time is running out with just over 3 weeks....

I feel like just giving up

Sorry, rant over

I'm in exactly the same boat. I seem to be getting worse at the case studies rather than better :(:( I think i'll just go back to work now and take the fail it would be far more productive use of my time

chursy

7upfree wrote: »

figrolls wrote: »

Is anybody else feeling completely disheartened and demotivated??

I feel like no matter how much I do it still wont be enough and that theres no point even trying any more

I read a case study pick out some indiators and write some bullet points on them, then read the solution and realie I never would have passed, and I dont seen to be getting any better either after all this time and now time is running out with just over 3 weeks....

I feel like just giving up

Sorry, rant over

I'm in exactly the same boat. I seem to be getting worse at the case studies rather than better :(:( I think i'll just go back to work now and take the fail it would be far more productive use of my time

Hang in there ppl - All of us are in the same boat these case studies are extremely tough but we don't have a choice at this stage. Let's keep trying for the last three weeks and hope for the best !

hubert_ie

Hi all,

The Code of Ethics is mentioned in the dreaded Locust Coffee case study, does anybody have a soft copy of this ? Or know where I would get it. I am a repeat student so I am not quite sure where to locate.

Just in reference to the above. We all seem to be in the same boat. I am reading a case study, spending 30 mins drafting a response. When I look at the solution I seem to be a long distance off. But you must remember, those solutions are to an extremely high standard. Also on the day of the exam you will be surprised by the amount of crap you can muster up and put in an an answer.... Only in actual real exam will that kinda stuff come to the fore...

figrolls

thanks peoples, its oddly comforting to know that im not the only one feeling this way abou them!

Just some cases from the 2010 mock audit elective - I'd like that exam paper please!

made me feel a little better!