FAE September 2013

Lol2013

Does anyone know where to get the code of ethics for Business ethics

lexluthor

Lol2013 wrote: »

Does anyone know where to get the code of ethics for Business ethics

chariot..

costacurta

Hi guys,

I'm a repeat student for this year, just got to say a big thank you to everyone that is uploading the case studies and notes. With that all of us repeaters would be lost! I'm just wondering would it be possible for some kind sole to send me on the notes for the core subjects like tax? If some generous soul would be willing to do this, all your good deeds for the year would be done in one swoop! If anyone is willing to help me out, i can PM my email details.

Hopefully thanks in advance:)

searunner

Mark1916 wrote: »

Guys unfortunately I'm sitting the AAFRP Tuesday week, for ye that have sat it do ye have any tips? Thanks in advance!

I also am sitting the AAFRP next week, any advise on topics would be appreciated.

Muzi5434

searunner wrote: »

I also am sitting the AAFRP next week, any advise on topics would be appreciated.

Hi guys,

Only best advice is to know your standards and double entry. Also if you're unsure about something in the sections there are others who are also unsure so state your assumptions.
Take in a summary of standards with you so you know exactly where to look for things if you're lost.

Lol2013

costacurta wrote: »

Hi guys,

I'm a repeat student for this year, just got to say a big thank you to everyone that is uploading the case studies and notes. With that all of us repeaters would be lost! I'm just wondering would it be possible for some kind sole to send me on the notes for the core subjects like tax? If some generous soul would be willing to do this, all your good deeds for the year would be done in one swoop! If anyone is willing to help me out, i can PM my email details.

Hopefully thanks in advance:)

Do you mean like induction notes or notes after that

Lol2013

searunner wrote: »

I also am sitting the AAFRP next week, any advise on topics would be appreciated.

How come you guys are only doing yours now. Anyway, make sure you tab areas you are not sure of e.g when I did it I could not remember the foreign exchange rules but because I had everything well tabbed I was able to reach for it with ease. Also don't panic. I didn't finish one of the questions but I don't care cos I thought the rest of what I did would get me through. hOPEFULLY. In any case, Good luck. God Bless.

Shane732

Does anyone have a disclosure listing? I.e. sample disclosures for all standards?

Shane732

Also does anyone have the AAFRP from April?

Conaldo87

Getting study leave next week. No idea where to start studying. That gives 2 weeks until mocks. Wonder what would be the best way to prepare to get the most out of them.

lexluthor

Shane732 wrote: »

Does anyone have a disclosure listing? I.e. sample disclosures for all standards?

I've used disclosure checklists before but they're not helpful not for me anyway because they tend to be all over the place so I put together word docs for each standard listing the disclosure requirements for that particular standard once u have that u can't really go wrong in relation to stating disclosures when addressing a particular fr indicator..

donkey10

Does anyone know where I can get a list of the auditing standards examinable for the core. On the CA site it seems to have all the standards combined for core and elective. Thanks

lexluthor

donkey10 wrote: »

Does anyone know where I can get a list of the auditing standards examinable for the core. On the CA site it seems to have all the standards combined for core and elective. Thanks

competency statement man

Lol2013

Shane732 wrote: »

Does anyone have a disclosure listing? I.e. sample disclosures for all standards?

I wouldn't advise you to use those disclosure checklists. Unless you use it in work on a regular basis, which means you'll be more familiar with it. I use it on a regular basis at work but when I was practicing for the AAFRP I found myself flipping pages. It's time consuming. Brought it in with me for the exam but didn't use it. The FAE Notes posted here has a brief summary of all the disclosures, but I don't think its that good. It's a starting point though. But I'm sure someone else here will have a detailed version.

Jamesw2

Dear all, having a look at the competency statement with regards to performance measurement specifically management accounting. Can anyone throw light on the following with some examples? Dont know what it means! Much appreciated

Performance Measurement for Planning and Control
6.7
Consider and advise on the principles underlying multi-dimensional performance measurement models, including financial and non-financial performance measurement

Apply these models within the context of a business scenario, taking into account the external environment, internal environment and the entity’s business mission and strategy


lexluthor

Lol2013 wrote: »

I wouldn't advise you to use those disclosure checklists. Unless you use it in work on a regular basis, which means you'll be more familiar with it. I use it on a regular basis at work but when I was practicing for the AAFRP I found myself flipping pages. It's time consuming. Brought it in with me for the exam but didn't use it. The FAE Notes posted here has a brief summary of all the disclosures, but I don't think its that good. It's a starting point though. But I'm sure someone else here will have a detailed version.

you might as well say it who that "someone else here" most likely is going to be

lexluthor

Jamesw2 wrote: »

Dear all, having a look at the competency statement with regards to performance measurement specifically management accounting. Can anyone throw light on the following with some examples? Dont know what it means! Much appreciated

Performance Measurement for Planning and Control
6.7
Consider and advise on the principles underlying multi-dimensional performance measurement models, including financial and non-financial performance measurement

Apply these models within the context of a business scenario, taking into account the external environment, internal environment and the entity’s business mission and strategy


I myself have always wondered about these bits and I've come to conclusion it most likely relates to KPIs , balanced scorecards etc

Jamesw2

Thanks. What do you make of the following:


Discuss the behavioural aspects of Management Accounting Control Systems (including Executive Remuneration and Performance Appraisal Schemes)

6.10
Assess the implications for the management accountant function in new product design and development

Shane732

lexluthor wrote: »

you might as well say it who that "someone else here" most likely is going to be

Lex, you don't happen to have those documents on the standard that you mentioned in your previous post?

Jamesw2

The CGS produced a small toolkit last year for AAFRP that has a list of disclosures. Book is v good for disclosures. If you contact them they will probably sell you a copy. Best.

Shane732

Jamesw2 wrote: »

The CGS produced a small toolkit last year for AAFRP that has a list of disclosures. Book is v good for disclosures. If you contact them they will probably sell you a copy. Best.

I tried to contact them but they won't sell the book for some reason.

lexluthor

Shane732 wrote: »

I tried to contact them but they won't sell the book for some reason.

they won't..later tonight I will post a reply I received from them..they basically say they're "not in business of selling books and published material"

lexluthor

Shane732 wrote: »

Lex, you don't happen to have those documents on the standard that you mentioned in your previous post?

will do tonight no worries hopefully should help

lexluthor

Jamesw2 wrote: »

Thanks. What do you make of the following:


Discuss the behavioural aspects of Management Accounting Control Systems (including Executive Remuneration and Performance Appraisal Schemes)

6.10
Assess the implications for the management accountant function in new product design and development

as for the first one I've assumed it to be in relation to remuneration schemes based on ebit targets for example, or purely financial targets focussing on short term..couple of questions in cap2 sfma exams around this..also references to this in cap2 sfma toolkit from cap2..

as for no2 not really figured that one out but I reckon something about budgeting for new product development and launch in light of existing financial conditions..something along those lines.....

somebody else think differently?

lexluthor

anybody got a source for more marketing cases similar to ones at end of resource pack text? I completely suck at leadership!!!! need to practice a he'll lot more...

Jamesw2

Just found this and have just started to read it. It looks at management accounting role in NPD in car industry. Lengthy. Have just finished page 1.

Jamesw2

lexluthor wrote: »

anybody got a source for more marketing cases similar to ones at end of resource pack text? I completely suck at leadership!!!! need to practice a he'll lot more...

. Just googled this. Let me know if any good.
http://businesscasestudies.co.uk/case-studies/by-topic/marketing.html#axzz2W605dG84

lexluthor

Jamesw2 wrote: »

. Just googled this. Let me know if any good.
http://businesscasestudies.co.uk/case-studies/by-topic/marketing.html#axzz2W605dG84

looks pretty good thanks a mill!! some of my personal favorites e.g. diesel in there too they're not questions but seemingly excellent examples of marketing concepts applied in real life, thanks....

as for the mgmt acc document saw it last year posted here but was put off a bit by length of it but definitely going to read through to cover that line off competency statement .. thanks homie good stuff

Lol2013

lexluthor wrote: »

you might as well say it who that "someone else here" most likely is going to be

I'm sorry but I don't know what you are on about lol

Lol2013

lexluthor wrote: »

will do tonight no worries hopefully should help

Yes will you go on and post it thanks...

Joziburg

lexluthor wrote: »

as for the first one I've assumed it to be in relation to remuneration schemes based on ebit targets for example, or purely financial targets focussing on short term..couple of questions in cap2 sfma exams around this..also references to this in cap2 sfma toolkit from cap2..

as for no2 not really figured that one out but I reckon something about budgeting for new product development and launch in light of existing financial conditions..something along those lines.....

somebody else think differently?

For #2 I wonder is it something to do with Target Costing etc?

lexluthor

Joziburg wrote: »

For #2 I wonder is it something to do with Target Costing etc?

good thinking.. could also be broadened into pricing a new product or service overall using different pricing techniques perhaps with a focus on costing techniques employed at present

MoMo1987

Conaldo87 wrote: »

Getting study leave next week. No idea where to start studying. That gives 2 weeks until mocks. Wonder what would be the best way to prepare to get the most out of them.

I am in the same boat, I was planning to spend the next couple of weeks before the mocks just concentrating on business leadership and doing some cases around that area.

Anyone else got any suggestions? I don't want to be trying to pick a bit of every subject and then get nothing from the two weeks.

More than likely going to fail the mocks either way so best to try get something from it

Padkir

Hi all,

Getting study leave in 2 weeks and just trying to do up my plan for it! Between a few things I have on this summer and days off to keep me healthy and sane, it's surprising how the number of study days decreases. Considering I have about 60 cases that I can choose from (I'm leaving out sample cases and the ones they took out of the packs this year), it'll be a struggle to get them all done.

Are there any cases that people have found were no real help or the topics are covered better elsewhere, so I can drop these? I will definitely be doing all of the 2012/2011/2010 real and mock exam paper cases, which accounts for 24 cases. After that, there are a few key ones that keep getting mentioned, e.g. Primus Pet Foods, Gems, etc. that I will also definitely do.

The way OI initially planned it was to do one long case and one short case per day and an hour or so at the end of the day looking at the technical material for any areas in those cases that I struggled with. I do not intend (apart from 2 days at the beginning to look over tax planning) to sit down any day and go through notes. It will be pure cases for me.

Anyone have any thoughts / ideas on this? Thanks!

Lol2013

A bit of help guys...I am compiling a set of accounts here. All sales are on a receipts basis. I have posted the lodgements. Dr Bank cr sales. Now I need to post the cash account, this is where the confusion begins. They have a cash account and its made up of several items. Take January for example (€50000). This is made up of
Cash, cheques and visa receipts which is lodged into the bank say €44000
The rest is like wages 2000,
Expensese.g diesel, repairs etc 3000
Casual worker 1000
How do i post this???

walshing

Lol2013 wrote: »

A bit of help guys...I am compiling a set of accounts here. All sales are on a receipts basis. I have posted the lodgements. Dr Bank cr sales. Now I need to post the cash account, this is where the confusion begins. They have a cash account and its made up of several items. Take January for example (€50000). This is made up of
Cash, cheques and visa receipts which is lodged into the bank say €44000
The rest is like wages 2000,
Expensese.g diesel, repairs etc 3000
Casual worker 1000
How do i post this???

would you have dr your expenses and then cr you cash account €6000. This cash would be additional sales? where esle would they get cash from ? then dr cash account cr sales with additional sales ? sorry if its no help

lexluthor

Lol2013 wrote: »

A bit of help guys...I am compiling a set of accounts here. All sales are on a receipts basis. I have posted the lodgements. Dr Bank cr sales. Now I need to post the cash account, this is where the confusion begins. They have a cash account and its made up of several items. Take January for example (€50000). This is made up of
Cash, cheques and visa receipts which is lodged into the bank say €44000
The rest is like wages 2000,
Expensese.g diesel, repairs etc 3000
Casual worker 1000
How do i post this???

interesting.. is there no head for "cash a/c"? if there is I'd first debit cash and cash equivalents credit sales for the 50k...then debit bank credit cash when cash is lodged and cheques and visa receipts cleared for the 44k..Dr expenses under appropriate heads and credit cash again for the remaining 6..watch out for cash withdrawals, additions from owners..common in small business..the 50k is credited to sales initially assuming it just that..I.e all sales

Jamesw2

Your cash account works the same way your bank account does.
You need to set up a current asset account called "cash".
You will put all cash income into it: dr cash cr sales.
You will extract all cash expenses from it: dr expense cr cash
Is this what you mean? or have i over simplified it?

walshing

thinking about not sitting mocks as haven't have a tap done and not finishing until 28th june! would it be a waste of 3 days doing nothing?! anyone got any thoughts on it?!

Lol2013

I think walshing, lexluthor, and james you are al saying the same thing. Now I am even more confused.
Are you all saying set up a new account called cash. I also just found out that I cant post all the bank lodgements to sales. I think I have to set up a debtors ledger cos if I dont how will i post vat. So as of now i have dr bank cr trade debtors. Then ill post the following - dr trade drs gross, cr vat, cr sales. There is a massive balance of 90000 grand in trade debtors which i know is wrong. So i think i am supposed to cr trade debtors and dr the relevant expenses.

OMG I AM SO CONFUSED HAHAHAHAHAHAHAHHAHAHAHAH

Lol2013

walshing wrote: »

thinking about not sitting mocks as haven't have a tap done and not finishing until 28th june! would it be a waste of 3 days doing nothing?! anyone got any thoughts on it?!

eHH IM NOT FINISHED TILL 15TH JULY. IM STILL DOING IT
soz bout caps

Lol2013

lexluthor wrote: »

interesting.. is there no head for "cash a/c"? if there is I'd first debit cash and cash equivalents credit sales for the 50k...then debit bank credit cash when cash is lodged and cheques and visa receipts cleared for the 44k..Dr expenses under appropriate heads and credit cash again for the remaining 6..watch out for cash withdrawals, additions from owners..common in small business..the 50k is credited to sales initially assuming it just that..I.e all sales

This is what my manager told me in his overtly verbose way of speaking so I got confused. But I dont think i can do this now as i have now posted the lodgements in the following way:
dr bank cr debtors rather than sales.

lexluthor

walshing wrote: »

thinking about not sitting mocks as haven't have a tap done and not finishing until 28th june! would it be a waste of 3 days doing nothing?! anyone got any thoughts on it?!

no brainer there mate, in my honest opinion..save ur 3 days and wait until mock questions and solutions come out

lexluthor

Lol2013 wrote: »

This is what my manager told me in his overtly verbose way of speaking so I got confused. But I dont think i can do this now as i have now posted the lodgements in the following way:
dr bank cr debtors rather than sales.

how can u credit the debtors when presumably there was no debtor recorded in first place? u didn't initially record a debtor for a cash sale did u?? vat is simple Dr cash cr sale cr vat at appropriate rate ... hmm I forgot about vat totally! anyway good luck with it , God bless

costacurta

Lol2013 wrote: »

Do you mean like induction notes or notes after that

The notes after that. I couldn't afford to sign up for the course again due to being let go after my results last year:(

lexluthor

costacurta wrote: »

The notes after that. I couldn't afford to sign up for the course again due to being let go after my results last year:(

good bit of them were kindly posted by womandriver earlier in this thread in response to my request..see the first couple of pages or search posts from womandriver

Conaldo87

MoMo1987 wrote: »

I am in the same boat, I was planning to spend the next couple of weeks before the mocks just concentrating on business leadership and doing some cases around that area.

Anyone else got any suggestions? I don't want to be trying to pick a bit of every subject and then get nothing from the two weeks.

More than likely going to fail the mocks either way so best to try get something from it

Ya I was thinking that too. Seeing as we must get comptetent in BL and have no real experience of them types of q's before I reckon it's a good idea to focus on it. Already accepted that I will fail but would be good to get something out of them anyway

donkey10

Attached is a summary document useful for Business Leadership. It goes through some of the main topics such as ethics, stategy and preparing a business plan.

sodabread

Really stupid question here everybody. Attendance at lectures- is there a requirement to attend X% of lectures in order to pass the FAE's????

Spoke to a guy who did them in 2011 and said that you need to attend and sign in for at least 50% of all lectures as part of the passing requirement!!!

I suspect its nonsense but I'm looking for someone to assure me its not true because I'm well below that at the moment!! :eek:

walshing

sodabread wrote: »

Really stupid question here everybody. Attendance at lectures- is there a requirement to attend X% of lectures in order to pass the FAE's????

Spoke to a guy who did them in 2011 and said that you need to attend and sign in for at least 50% of all lectures as part of the passing requirement!!!

I suspect its nonsense but I'm looking for someone to assure me its not true because I'm well below that at the moment!! :eek:

jesus i hope so too! dont have smart phone so NEVER logged in!