FAE September 2012

MPBC123

Szewinska wrote: »

MPBC123 wrote: »

As far as I can remember, these were just assumptions made. Think it says that in the solution. How we are supposed to know this tho, I honestly don't know!!:(

the mangement charge reduction may well be but I think there must be some reason as to the reduction in the staff in two divisions. it states in the solution under 2b that tiny gardens ltd has been operating at efficiency levels above 100%. how do we know this??

Oh yea rem that, just off top of my head was there not sum calc done showing how many staff were needed in each division, allocating costs more efficiently than the way they were. Would need to look at case again to be sure. Tryin to concentrate on elective this wk.

R0N BURGUNDY

Manager has been texting me all day busting my balls over something apparently lost/misplaced. She thinks it was me and I think it was her. Anyway - there has been a bit of text slabbering and I can now tell you that I am 100% going to pass these exams so I can get the hell out of there and go travel the world.

Just thought I'd tell yas!!

ferike1

Always helps to have some extra motivation.
Spill some locust coffee on her desk when you leave.

reo49

Company buys 85% of another Company. A month after the subsidary sells inventory for 100K less than its nbv at date of acquisition. Is there deffered tax at the date of acquisition on this write down of inventory?

ferike1

Yeah, check out Healthfirst group in Derry Cotter's book. Same thing happened there. DTA arises on the reduction in inventory

Szewinska

Szewinska wrote: »

Hi All

For what now seems like my daily post in a request for help on my problem

Mocks 2010

Comp Paper Indicator 6

For the IAS 11 solution, why is revenue of only 5m recognised. I think the costs are 5m as its 50% complete.

Second problem

Mocks 2010 again

Sim II Indiator 2

Probably being a bit too fussy on this but its niggling me. At the end of the second tutorial note it mentions that if 166k was paid for the shares that the CAT liability would be eliminated. How does one work that out.

Thanks in advance. Hopefully if iv figured something out I can repay somebody the favor on here sometime.

Anybody any ideas on this? Cheers.

MPBC123 wrote: »

Oh yea rem that, just off top of my head was there not sum calc done showing how many staff were needed in each division, allocating costs more efficiently than the way they were. Would need to look at case again to be sure. Tryin to concentrate on elective this wk.

Ah lord I should have read on. I stopped when I got stuck. Thanks.

R0N BURGUNDY wrote: »

Manager has been texting me all day busting my balls over something apparently lost/misplaced. She thinks it was me and I think it was her. Anyway - there has been a bit of text slabbering and I can now tell you that I am 100% going to pass these exams so I can get the hell out of there and go travel the world.

Just thought I'd tell yas!!

That work in an accounting firm is a load of balls. One should get out as soon as one can

Szewinska

wheatser wrote: »

Maybe that is it but surely they couldnt have made a mistake like that as the figure is used to compare the divisions.

fro what i can work out should be 85.5m/112. they seemed to have divided by 113 which appears an error. either way the net effect is the same. small difference so the basis for your answer would be the same. If one did not exclude the refueling division which I would not have done I wonder how fatal that would be

Mavic09

Did anyone think it strange that in this case there was an indicator for discussing an IPO when the company has a PAT of about €12k?

I attempted this, and in my solution I suggested the company should be wound up because if the owner took a salary they'd be making no money at all!

reo49

ferike1 wrote: »

Yeah, check out Healthfirst group in Derry Cotter's book. Same thing happened there. DTA arises on the reduction in inventory

I seen that. Don't have the book on me but I am pretty sure the exact same thing happens in the case before that but there is no DTA?

ferike1

No there is, there is a 95k inventory write off and a DTA arises with whatever the tax rate is. It affects the goodwill calculation. If the inventory as in stock at the time of purchase and is subsequently sold for less a DTA arises.

Username2011

Has anyone done sim 1 of the 2010 paper, platinum software and know where they pulled that information on the strategy plan from

faer2203

WDF is going on in the sample papers!!!!

ferike1

Username2011 wrote: »

Has anyone done sim 1 of the 2019 paper, platinum software and know where they pulled that information on the strategy plan from

Its in our strategy textbook apparently, if you read the markers comments, its mentioned there.

Username2011

ferike1 wrote: »

Username2011 wrote: »

Has anyone done sim 1 of the 2019 paper, platinum software and know where they pulled that information on the strategy plan from

Its in our strategy textbook apparently, if you read the markers comments, its mentioned there.

Yeah I looked for it but couldn't find it

ferike1

Well your institute mind reading skills obviously aren't up to scratch

I used the acca strategy book and also a book called contemporary strategy analysis. Better than the toilet paper excuse of a book we got.

MPBC123

ferike1 wrote: »

Well your institute mind reading skills obviously aren't up to scratch

I used the acca strategy book and also a book called contemporary strategy analysis. Better than the toilet paper excuse of a book we got.

Where did u get Acca book from?

ferike1

Downloaded all of them!

MPBC123

Where from? U have the link?

Daizy0

Amazing excel sheet, cheers. I was just wondering, is there a similar one done for the Audit Elective?

Flange/Flanders

Ha ha, biggest laugh I got was when I was looking at the Flexum case study when Bill Sharpe said something like "you accountants seem to work 24/7". Bit of self congratulations there by the institute. Then I remembered that Bill Sharpe was a doctor....doctors dont work hard at all!!!

louise1985

What templates are people bringing into the exams ? executive report, memo, letter,email,
what other formats could be asked

Jame Gumb

Daizy0 wrote: »

Amazing excel sheet, cheers. I was just wondering, is there a similar one done for the Audit Elective?

Which sheet?

ferike1

Flange/Flanders wrote: »

Ha ha, biggest laugh I got was when I was looking at the Flexum case study when Bill Sharpe said something like "you accountants seem to work 24/7". Bit of self congratulations there by the institute. Then I remembered that Bill Sharpe was a doctor....doctors dont work hard at all!!!

Another gem thrown into a case making me hate my life all the more. :pac:
Whoever writes the cases deserves a scalding via Locust Coffee.

I thought the most depressing one was the guy in the Runways who wanted to be a pilot and ended up as an accountant (my life dream ruined so as punishment/because I hate myself I will become an auditor!), deluding himself that he was happy. The only accountant I have ever seen that was happy are the ones that aren't in accounting anymore. They truly know what happiness is because they have stared into the depths of misery for a minimum of 3.5 years.

supernova84

In Park4Square there was a hint of a HR sexual harassment indicator as I felt Jack Brown was stalking Meg Ryan that time in the car park. She thought that she locked her keys into her car and he just happened to come along and help her but I wasn't so sure.

ferike1

Has anyone done Neptune. Loan of 70m is written off and there is hardly any mention of the effect that it has on the audit report. Was sure that was something. I know in terms of the overall loan book its small but still

Ex 88

Cant sleep too stressed out. How is everyone approaching study over the next two weeks? I'd love to just do cases but feel so unprepared with all the technical material, particularly auditing (there's just so much in it) !! I don't feel like I learn anything from doing the cases, anyone else feel like that?

Username2011

ferike1 wrote: »

Downloaded all of them!

Just wondering where you downloaded them? Really struggling with strategy and any help appreciated!

Flange/Flanders

louise1985 wrote: »

What templates are people bringing into the exams ? executive report, memo, letter,email,
what other formats could be asked

Outline briefing paper, You Look Fantastic is one of them

silverwatch

is anyone using the Derry Cotter books? Starting to panic a bit about financial:(

reo49

ferike1 wrote: »

No there is, there is a 95k inventory write off and a DTA arises with whatever the tax rate is. It affects the goodwill calculation. If the inventory as in stock at the time of purchase and is subsequently sold for less a DTA arises.

In Hardcourt Group (the case before Healthfirst), the exact same situation arises but there is no DTA?