FAE September 2012

funkymonkey9

funkymonkey9 wrote: »

In Thorpe clinic anyone know where the incremental cash inflow\outflow figures in appendix 1 come from? Thanks

Sorry just got it!surplus plus depreciation!my god that calculation was complicated!would never have used contribution,would have assumed all costs were factored into the initial projections :-( so screwed

BESman

funkymonkey9 wrote: »

funkymonkey9 wrote: »

In Thorpe clinic anyone know where the incremental cash inflow\outflow figures in appendix 1 come from? Thanks

Sorry just got it!surplus plus depreciation!my god that calculation was complicated!would never have used contribution,would have assumed all costs were factored into the initial projections :-( so screwed

I think all reasonable attempts at calculations will go some way towards an RC or C. So wouldn't be too worried about getting the calcs out 100%.

7upfree

So much for doing some study today all I want to do is sleep my brain is fried I think I'll just throw in the towel and see what happens on Tuesday.

Too hard to cram for exams like this as there's no defined questions.

funkymonkey9

Sorry another question on Thorpe clinic on indicator 4,why do they suggest moving the trade of the clinic to a new company in order for bill to give the consultants shares?is it not just the same as them getting shares in the clinic as it is?restructuring is really worrying me :-(

thisguy

Just wondering how everyone is fairing managing their time?

I'm really struggling to get the questions finished in the assigned time, went 20 mins over there on d last case study!

How much time are people spending on their reading/plans I'm worried I could be spending to much, usually is taking me close half an hour per question. Not sure how I could cut it down though without rushing my reading!

watching the football now, worried how much im struggling for motivation today! cant wait til these are over!

funkymonkey9

Dee29 wrote: »

The attached notes have a good example of company valuation - 4 methods page 36

Any chance you would have similar notes for management accounting? Those finance ones are great!

tomfoolery60

funkymonkey9 wrote: »

Any chance you would have similar notes for management accounting? Those finance ones are great!

Yeah would be much appreciated! Looks like the CAI have improved their game since last year in a major way. If they keep this up I'd consider recommending them to a friend considering an accounting qualification

supernova84

Not that I really care but did Bernard Brogan ever get his finals? I know he was doing them last year.

levi

funkymonkey9 wrote: »

Sorry another question on Thorpe clinic on indicator 4,why do they suggest moving the trade of the clinic to a new company in order for bill to give the consultants shares?is it not just the same as them getting shares in the clinic as it is?restructuring is really worrying me :-(

If I remember correctly, he wanted to keep the property separate. If he didn't separate out the trade, the consultants would own some of the property.

levi

So I have put together a few brief things to remember when looking at each of the questions... I've typed them out here and I'm wondering does anyone have anything else to add?

Financial Reporting

- Consider the disclosure requirements as well as the treatment
- Make sure to show journal entries
- Is the company listed - IFRS 8, IAS 33, IAS 34

Mgmt A/C

- Use ALL information given
- Make sure to compare old vs new (costing/new product)
- Calculate all relevant ratios

Strategy/Finance

- Synergies
- SWOT
- When valuing consider goodwill
- Use all info provided, compare old vs new

IMS

- Always comment on old system
- Comment on how this new system will improve the business
- Discuss options available
- Responsibility to the customer? Data Protection?

HR

- Are there proper policies in place?
- Staff Handbook?
- HR presence on the board?

Change Mgmt

- ALWAYS consider when making an acquisition
- Improper CM can ruin a merger
- Need buy in from staff
- Need to integrate staff
- Need adequate resources available

Marketing

- 5/7 Os
- Is marketing needed? In a growing market are the company increasing their market share?
- Value of CSR
- Value of brand/reputation

CG & Ethics

- Does the board structure agree with the Code?
- Any ethical issues? Audit & consultancy? Integrity of client? Size of the fee?

Audit

- Question of going concern?
- Risks? How to address?
- Will this effect the audit report?

Anyone else add anything?

7upfree

levi wrote: »

So I have put together a few brief things to remember when looking at each of the questions... I've typed them out here and I'm wondering does anyone have anything else to add?

Financial Reporting

- Consider the disclosure requirements as well as the treatment
- Make sure to show journal entries
- Is the company listed - IFRS 8, IAS 33, IAS 34

Mgmt A/C

- Use ALL information given
- Make sure to compare old vs new (costing/new product)
- Calculate all relevant ratios

Strategy/Finance

- Synergies
- SWOT
- When valuing consider goodwill
- Use all info provided, compare old vs new

IMS

- Always comment on old system
- Comment on how this new system will improve the business
- Discuss options available
- Responsibility to the customer? Data Protection?

HR

- Are there proper policies in place?
- Staff Handbook?
- HR presence on the board?

Change Mgmt

- ALWAYS consider when making an acquisition
- Improper CM can ruin a merger
- Need buy in from staff
- Need to integrate staff
- Need adequate resources available

Marketing

- 5/7 Os
- Is marketing needed? In a growing market are the company increasing their market share?
- Value of CSR
- Value of brand/reputation

CG & Ethics

- Does the board structure agree with the Code?
- Any ethical issues? Audit & consultancy? Integrity of client? Size of the fee?

Audit

- Question of going concern?
- Risks? How to address?
- Will this effect the audit report?

Anyone else add anything?

Looks good to me. Can't think of anything else but I'm sure others might.

FAE4EVA

supernova84 wrote: »

Not that I really care but did Bernard Brogan ever get his finals? I know he was doing them last year.

He got a credit..

Remember seeing him fall asleep at grind school lecture..

At least it showed, doesn't matter who you are, institute will still fail ya!

Elle2012

7upfree wrote: »

levi wrote: »

So I have put together a few brief things to remember when looking at each of the questions... I've typed them out here and I'm wondering does anyone have anything else to add?

Financial Reporting

- Consider the disclosure requirements as well as the treatment
- Make sure to show journal entries
- Is the company listed - IFRS 8, IAS 33, IAS 34

Mgmt A/C

- Use ALL information given
- Make sure to compare old vs new (costing/new product)
- Calculate all relevant ratios

Strategy/Finance

- Synergies
- SWOT
- When valuing consider goodwill
- Use all info provided, compare old vs new

IMS

- Always comment on old system
- Comment on how this new system will improve the business
- Discuss options available
- Responsibility to the customer? Data Protection?

HR

- Are there proper policies in place?
- Staff Handbook?
- HR presence on the board?

Change Mgmt

- ALWAYS consider when making an acquisition
- Improper CM can ruin a merger
- Need buy in from staff
- Need to integrate staff
- Need adequate resources available

Marketing

- 5/7 Os
- Is marketing needed? In a growing market are the company increasing their market share?
- Value of CSR
- Value of brand/reputation

CG & Ethics

- Does the board structure agree with the Code?
- Any ethical issues? Audit & consultancy? Integrity of client? Size of the fee?

Audit

- Question of going concern?
- Risks? How to address?
- Will this effect the audit report?

Anyone else add anything?

Looks good to me. Can't think of anything else but I'm sure others might.

Audit - internal controls - weakness, risk, recomm

Tax- residency - branch or sub/reliefs/close co rules/ share sale v asset sale etc

Would be much easier if these exams were a group effort!!

upnorthchick

honestly think coursework is the way to go for FAE lol feel sick!
suitcase is down ready to pack - not for holidays mind lol

supernova84

Best of luck everyone. I hope we all pass, 100% pass rate. Sure can't they make an old retrospective adjustment under IAS 8 next year when they realise the material error they've made.

levi

Elle2012 wrote: »

Audit - internal controls - weakness, risk, recomm

Tax- residency - branch or sub/reliefs/close co rules/ share sale v asset sale etc

Would be much easier if these exams were a group effort!!

Forgot my tax list - oops!

funkymonkey9

levi wrote: »

If I remember correctly, he wanted to keep the property separate. If he didn't separate out the trade, the consultants would own some of the property.

They suggested setting up trade co for the trade and propco for the property, could you just have said set up propco and put the property in there and then give them shares in thorpe clinic??

Was there any need to set up 2 subsidiaries? Thanks

upnorthchick

you keep the trade separate because of tax reliefs was it not? and he wanted to be entitled to it separately as part of his retirement?
I could be wrong...

funkymonkey9

upnorthchick wrote: »

you keep the trade separate because of tax reliefs was it not? and he wanted to be entitled to it separately as part of his retirement?
I could be wrong...

What tax reliefs??

He wanted the property for his retirement so I understand putting that into a separate company but why move the trade to another company? Could you not just transfer the property to a 100% subsidiary and then give the employees shares in the trade left in the original company?

Thanks

Szewinska

ferike1 wrote: »

No worries guys

Hopefully they help.

Hi Ferikie1

Sorry I am likely being slow but where are these posted up.

Thanks

7upfree

Elle2012 wrote: »

7upfree wrote: »

levi wrote: »

So I have put together a few brief things to remember when looking at each of the questions... I've typed them out here and I'm wondering does anyone have anything else to add?

Financial Reporting

- Consider the disclosure requirements as well as the treatment
- Make sure to show journal entries
- Is the company listed - IFRS 8, IAS 33, IAS 34

Mgmt A/C

- Use ALL information given
- Make sure to compare old vs new (costing/new product)
- Calculate all relevant ratios

Strategy/Finance

- Synergies
- SWOT
- When valuing consider goodwill
- Use all info provided, compare old vs new

IMS

- Always comment on old system
- Comment on how this new system will improve the business
- Discuss options available
- Responsibility to the customer? Data Protection?

HR

- Are there proper policies in place?
- Staff Handbook?
- HR presence on the board?

Change Mgmt

- ALWAYS consider when making an acquisition
- Improper CM can ruin a merger
- Need buy in from staff
- Need to integrate staff
- Need adequate resources available

Marketing

- 5/7 Os
- Is marketing needed? In a growing market are the company increasing their market share?
- Value of CSR
- Value of brand/reputation

CG & Ethics

- Does the board structure agree with the Code?
- Any ethical issues? Audit & consultancy? Integrity of client? Size of the fee?

Audit

- Question of going concern?
- Risks? How to address?
- Will this effect the audit report?

Anyone else add anything?

Looks good to me. Can't think of anything else but I'm sure others might.

Audit - internal controls - weakness, risk, recomm

Tax- residency - branch or sub/reliefs/close co rules/ share sale v asset sale etc

Would be much easier if these exams were a group effort!!

Cheers my brain is fried didn't think of that. Hopefully brain will work on the day.

Yeah we'd pass with flying colours if it was a group effort and in real life we'd be able to work in groups. But hey then they wouldn't be able to fail people and make more money.

Szewinska

Szewinska wrote: »

Hi Ferikie1

Sorry I am likely being slow but where are these posted up.

Thanks

I just have gone back through the thread. If anybody could pm me these notes if you have a spare minute i would greatly appreciate it.

upnorthchick

funkymonkey9 wrote: »

What tax reliefs??

He wanted the property for his retirement so I understand putting that into a separate company but why move the trade to another company? Could you not just transfer the property to a 100% subsidiary and then give the employees shares in the trade left in the original company?

Thanks

Ignore me i was thinking of something else... no tax reliefs - was thinking of the trade test but diff case.

Dee29

funkymonkey9 wrote: »

Any chance you would have similar notes for management accounting? Those finance ones are great!

Unfortunately not. Sorry I didn't post the finance note before now. I didn't have them in soft copy until yesterday.

Siobhang4

Szewinska wrote: »

I just have gone back through the thread. If anybody could pm me these notes if you have a spare minute i would greatly appreciate it.

those notes are really long about 7 sets and about 500 pages per set. say its alot of new notes to be getting day before... you prop have everything covered...


just hope we can all keep our heads on the day... and write fast enough... takes me forever to read the case aswell...

Dee29

Just downloaded the attached summary of the FR standards from the student portal - might be of some help for a quick reference

BESman

Dee29 wrote: »

The attached notes have a good example of company valuation - 4 methods page 36

Dee29 wrote: »

Just downloaded the attached summary of the FR standards from the student portal - might be of some help for a quick reference

Is it just me or did the CAP 2 students this year have waaaaay better notes than we did when we were doing CAP 2? These sets of SFMA and FR notes look very comprehensive, concise and easy to follow. Bit too late for me to add them to my notes now unfortunately but at least it's starting to look like the Institute are getting better at this....

ferike1

They are so...maybe the institute read the forums and realized that the acca notes are infinitely better than what they were producing?

WeeDeee

Dee29 wrote: »

Just downloaded the attached summary of the FR standards from the student portal - might be of some help for a quick reference

These notes would have been a great help three weeks ago!!

Siobhang4

how are ye all planning the answers... really worried about getting C in PM...