FAE September 2014

thumbelinda

I haven't done a tap since the AAFRP exam-now where do I start? I'm so overwhelmed and just haven't a clue where to begin. I am an elevation student so will only have 5 weeks study leave so need to get my butt on gear. Any one care to give me some direction??? I'm so lost

mark_m360

thumbelinda wrote: »

I haven't done a tap since the AAFRP exam-now where do I start? I'm so overwhelmed and just haven't a clue where to begin. I am an elevation student so will only have 5 weeks study leave so need to get my butt on gear. Any one care to give me some direction??? I'm so lost

Hey Thumbelinda, I'm an elevation student as well so I know what you mean.
I'm going to take my two weeks holidays leave with the 5 weeks to give me that bit extra.

It is difficult to get the study going but even if you start going back through the launch slides, you'll have an idea on what you need to work on (plus you get a refresh from subjects as a whole).

For example, I spent a couple days flicking through the Nagle audit book as a refresh. Now I'm working through the tax launch slides and questions in conjunction with the book.

I'd like to get a broad overview at least done before I start looking at past questions before the mocks. High hopes I know but will give it my best shot.

TheDoctor

One month to AAFRP results, Yay!

thumbelinda

mark_m360 wrote: »

Hey Thumbelinda, I'm an elevation student as well so I know what you mean.
I'm going to take my two weeks holidays leave with the 5 weeks to give me that bit extra.

It is difficult to get the study going but even if you start going back through the launch slides, you'll have an idea on what you need to work on (plus you get a refresh from subjects as a whole).

For example, I spent a couple days flicking through the Nagle audit book as a refresh. Now I'm working through the tax launch slides and questions in conjunction with the book.

I'd like to get a broad overview at least done before I start looking at past questions before the mocks. High hopes I know but will give it my best shot.

Thanks a million Mark. I will start with the launch notes and go from there. Are you going to attempt the mock exams? I am not sure I will have enough time off to do so, so I am trying to make a decision one way or the other!

thumbelinda

Guys - anyone on here doing the Sea Bounty Case - indicator 3? The Institute cannot give me contact details for my group but as I am an elevation student I am not sure how the heck I am supposed to make contact with the rest of my group! The Institute said to post a notice on this forum!! Not exactly an efficient way of carrying out this sort of exercise?!

autumnbelle

thumbelinda wrote: »

I haven't done a tap since the AAFRP exam-now where do I start? I'm so overwhelmed and just haven't a clue where to begin. I am an elevation student so will only have 5 weeks study leave so need to get my butt on gear. Any one care to give me some direction??? I'm so lost

I am the same Thumbelinda with the five weeks, Scary amount to cover but I am starting now to look over notes. AAFRP lost all motivation on me. Dunno where do start. Here watching an IT lecture on my lunch FML hahaha

Debs23

Hi guys. I'm trying to get my studying back on track but I just cant find the motivation. Wondering if anyone could shed so light on were to begin. Is it best to cover material first or should I just dive straight into the cases?? There is so much to do I just don't know where to begin

Dellboy2007

Debs23 wrote: »

Hi guys. I'm trying to get my studying back on track but I just cant find the motivation. Wondering if anyone could shed so light on were to begin. Is it best to cover material first or should I just dive straight into the cases?? There is so much to do I just don't know where to begin

I'm also suffering from a similar problem called procasturbation. I have so much work to do but all I can manage is to pull myself asunder. Oh well, YOLO.

TheDoctor

YOLO!

Schickadee

Hi guys wats the story with all these case day classes, do you have to get up in speak in all them? A real balls? Some people will miss out rather than have to do that!

PeteF

thumbelinda wrote: »

I haven't done a tap since the AAFRP exam-now where do I start? I'm so overwhelmed and just haven't a clue where to begin. I am an elevation student so will only have 5 weeks study leave so need to get my butt on gear. Any one care to give me some direction??? I'm so lost

Debs23 wrote: »

Hi guys. I'm trying to get my studying back on track but I just cant find the motivation. Wondering if anyone could shed so light on were to begin. Is it best to cover material first or should I just dive straight into the cases?? There is so much to do I just don't know where to begin

There's still plenty of time to get back on track, just don't waste any more time about it. Start planning out your time between now and the exam. I found getting up a little bit earlier in the morning meant I could study for an hour, then in the evening I could do another 2 hours and that was a good 3 hours a day study. Some people find they don't need much time at all (I always doubt them!).

Plan your weeks for study leave. Whatever you have, work with it. You can cover plenty in five weeks if that's all you have. Be sure to factor in some days off, I used to take every Sunday off, and every second Saturday. (Three days off every 2 weeks). Working straight through study leave without any study leave is a recipe for burnout which I don't recommend.

Next, plan your days off. Everyone has different studying styles, so figure yours out quickly. Do you work best in the morning or the evening. Most people can concentrate for 1 - 1 1/2 hours, so plan your study sessions around this. Schedule the time you'll study, break it up with a 15 minute break between each study session. I started studying at 7.30 and would study for three 90 minute sessions with an hour for lunch, then I'd study for another three 90 minute sessions. Once you study the allocated amount, relax. It's important to recover and relax after your study sessions. If you follow that plan of 6 90 minute sessions a day you'll cover 9 hours a day, which is a lot if you focus and work hard.

PM me if you want me to send you a sample of my daily and weekly FAE study planner.

Debs23 asked where to begin... just get started Debs! One step at a time. It's easy to panic and worry about what to do, just get and do something productive and you'll get into a swing of it. Pull out an empty folder and start writing summary notes to bring to the exam, try a sample question, even just read the CAI slides! Take one step now.

Be sure to keep on top of the case studies and past papers. Try as many as you can, this will familiarise you with the course material in a different way. You'll learn a lot by doing them. You'll also get to know the standard of answer required and reduce anxiety by familiarising yourself with the material.

katieanne56

Hi folks, good to see some familiar members from CAP2 last year here - we made it! But it's not over yet and I'm feeling overwhelmed about FAE. Thank you to the really encouraging folks on here, it's so nice to read such commentary. Most recently there PeteF, cheers! I'm studying in Belfast and we have our block release next week which is case study days, BL and cross marking workshop. I'm not too worried about the case study days because it's great to work with others to try and bash out a solution together but I am worried about the cross marking workshop.
I have only read over HamCam so far and though I can see that a memo is required to cover at least three specific indicators (concerns about going concern, preventing Board disputes and getting rid of the salesmen) but is it just me or is the whole joint venture to begin with confusing? Perhaps this is the point about Board disputes arising? Do folks think this is a corporate governance issue or is this pointing in the direction of substance over form. Maybe I'm thinking about it too much but is it strange that HamCam used a loan from MetFab & SBC to pay SoftMob for prepayment? It's very messy and I can't figure it out.
Re Going Concern: the thing (besides messy funding arrangements) that stands out for me is the 3 year warranties. This means that 2/3 of revenue can't be booked, right? Also am I thinking too hard again about the fact that MetFab holds the cameras in inventory? That means that HamCam can't book the assets as well, right? And SBC is also holding cams which haven't been sold so those also seem like they cannot be booked as Revenue (although if they are physically holding them then that should make them Debtors to HamCam right? Assuming there is no right of return in place?) Finally, on this subject, I am totally confused by the appendices which are obviously meant to inform this issue. Help?
Re sacking the salesmen - this is the only bit I feel confident enough about in terms of having something to say on the subject - linking with BL, ethics, product complexity, markets etc.
Does anyone else think that the auditor secondee preparing the draft accounts suspect as well?
Anyone else concerned about the use of the cameras with a wireless internet connection? I'm not a techie but it seems like that would be a customer security issue and ripe for potentially serious legal action and PR disasters down the line.

It would be so helpful if anyone else trying to work on this can help me wade through it.

I'm so frightened of the bigger case study I haven't even skimmed it yet!

Dellboy2007

katieanne56 wrote: »

Hi folks, good to see some familiar members from CAP2 last year here - we made it! But it's not over yet and I'm feeling overwhelmed about FAE. Thank you to the really encouraging folks on here, it's so nice to read such commentary. Most recently there PeteF, cheers! I'm studying in Belfast and we have our block release next week which is case study days, BL and cross marking workshop. I'm not too worried about the case study days because it's great to work with others to try and bash out a solution together but I am worried about the cross marking workshop.
I have only read over HamCam so far and though I can see that a memo is required to cover at least three specific indicators (concerns about going concern, preventing Board disputes and getting rid of the salesmen) but is it just me or is the whole joint venture to begin with confusing? Perhaps this is the point about Board disputes arising? Do folks think this is a corporate governance issue or is this pointing in the direction of substance over form. Maybe I'm thinking about it too much but is it strange that HamCam used a loan from MetFab & SBC to pay SoftMob for prepayment? It's very messy and I can't figure it out.
Re Going Concern: the thing (besides messy funding arrangements) that stands out for me is the 3 year warranties. This means that 2/3 of revenue can't be booked, right? Also am I thinking too hard again about the fact that MetFab holds the cameras in inventory? That means that HamCam can't book the assets as well, right? And SBC is also holding cams which haven't been sold so those also seem like they cannot be booked as Revenue (although if they are physically holding them then that should make them Debtors to HamCam right? Assuming there is no right of return in place?) Finally, on this subject, I am totally confused by the appendices which are obviously meant to inform this issue. Help?
Re sacking the salesmen - this is the only bit I feel confident enough about in terms of having something to say on the subject - linking with BL, ethics, product complexity, markets etc.
Does anyone else think that the auditor secondee preparing the draft accounts suspect as well?
Anyone else concerned about the use of the cameras with a wireless internet connection? I'm not a techie but it seems like that would be a customer security issue and ripe for potentially serious legal action and PR disasters down the line.

It would be so helpful if anyone else trying to work on this can help me wade through it.

I'm so frightened of the bigger case study I haven't even skimmed it yet!

Wow that was a lot of questions. Good luck getting answers with them.

katieanne56

I know DellBoy2007, I think I need to take a breather. Sorry about that

Debs23

katieanne56, I have the block week in Belfast next week aswell. Do we have to do work for the cross marking session?

katieanne56

Debs23 wrote: »

katieanne56, I have the block week in Belfast next week aswell. Do we have to do work for the cross marking session?

Hi Debs23, yes we are supposed to have attempted the cases so that we can mark one another's solutions. I am going to be so embarrassed about my sorry attempts!! At the same time, I really want to give it a good go so that the experience is worthwhile, you know? Really feeling the pressure generally now... hope you're getting on well yourself

blizzard13

katieanne56 wrote: »

Hi Debs23, yes we are supposed to have attempted the cases so that we can mark one another's solutions. I am going to be so embarrassed about my sorry attempts!! At the same time, I really want to give it a good go so that the experience is worthwhile, you know? Really feeling the pressure generally now... hope you're getting on well yourself

who is taking you for the cross marking? We had ours already and no one really had had the chance to attempt it, so he just handed out the solutions and talked through it!

katieanne56

Hi Blizzard13, we have Paul Monaghan for it. He's brilliant and I know I'll get something out of his workshop even if I don't have anything ready but I wanted to do them for the practice to try and get into doing cases. Just had a quick read of the second case, LogicMed and now I'm totally demoralised!! Thanks for your message, think I might just wait for him to talk me through it now!

blizzard13

katieanne56 wrote: »

Hi Blizzard13, we have Paul Monaghan for it. He's brilliant and I know I'll get something out of his workshop even if I don't have anything ready but I wanted to do them for the practice to try and get into doing cases. Just had a quick read of the second case, LogicMed and now I'm totally demoralised!! Thanks for your message, think I might just wait for him to talk me through it now!

yeah, we had Paul Monaghan too..... I was the same when I seen that LogicMed! but yeah, he will more than likely end up handing you all a printed solution and take you through it! Unless Belfast students are a lot more prepared than us Dublin students!

suetinz

Hey guys,

Just wanted to post some pointers from my experience doing the FAEs last year.

I started study leave and just covered material for 2 or 3 weeks, and then dived into the case studies. However, I wouldn't recommend that approach - always best to cover a couple of cases early on, as you'll know what to look out for. I definitely went into too much detail in my first few weeks.

For audit (core and elective), I watched all the lectures online. They’re tedious, but Sean Murray points out all the relevant parts of each standard which is really helpful and cuts the workload down significantly, and watching them online means that you can pause the video when he says to read certain sections – it takes a bit longer, but you get so much more out of it.

For business leadership, I watched the lectures (some are good, some aren’t as good, but I hadn’t a clue about the subjects, so found it helpful), and then I gathered notes together and read through them. You don’t need a massive amount for the BL subjects, and they’re easy to get your head around. Definitely give ethics and corporate governance a good look over, because that can come up as part of BL and audit.

I didn’t properly start into tax, finance, IT and management accounting until study leave. For finance, I watched every lecture, because it has always been my weakest area, and I didn’t have a clue about it. For financial reporting, I did watch the lectures, but mainly I went through the standards myself. For IT, I went through the book and got absolutely nothing from it. Obviously, there’s a chance that something in it could come up (so you kinda have to read it) but I wouldn't get bogged down in the detail. I mainly went through past papers for IT, and got model solutions, and used those. For tax, I went through the small FAE book and the CAP 2 book (because my tax knowledge was a few years out of date, and a lot had changed). The little FAE book for tax is BRILLIANT – read it cover to cover. Twice. The lectures are a total waste of time though.

My approach to case studies, for core and elective, was to read through them, pick out the indicators, and write a few bullet points on how I would approach the point. Then I read through the indicator, marking my "attempt" - for anything that I missed or got totally wrong, I revised that area. Then I pulled the answer apart, and stuck the different parts into their relevant folders (found this helpful, as a lot of similar points come up over and over).

If anyone has any specific questions, fire away and I'll help if I can. The most important thing is trying not to panic and worry - it feels like an uphill battle, but it all comes together over the summer.

Best of luck to everyone!

Debs23

Could anyone tell me where to get the solutions to the cases in the resource pack?

katieanne56

Debs23 wrote: »

Could anyone tell me where to get the solutions to the cases in the resource pack?

Hi Debs23, if it's the HR solutions you're looking for, I think that those are circulated in session 2 and otherwise the solutions are at the back of the sections. I think this is right but I can't be sure as can't check my notes at the mo

ASOT2012

Has anyone that has looked at logic Med explain what is going on with pension charge being credited back to the P&L in 2013 and why the current tax charge of 5,400 is being debited to the P&L. Confused!!

smiley00

Hi All,

I am unfortunately a serial repeater when it comes to these exams and will be sitting for the second time this year. Finding it really difficult to pick myself up to go through all the study again. Studied hard for the AAFRP and found it a disaster on the day so I have lost all motivation lately and avoiding the books. Anyone else out there feeling the same way or is it just me??!! Or anyone have any advice apart from just get on with it?!

PeteF

smiley00 wrote: »

Or anyone have any advice apart from just get on with it?!

I don't think there is any advice other than to keep your chin up and keep on fighting Smiley00. I had a bad day on the AAFRP exam when I sat my FAEs, try to use it to motivate you to study harder than anyone else for the exams. That might be easier said than done, but avoiding the books is resigning yourself to being under prepared on the day.

Take small steps if you need to, get your exam folder in order. Flick through some notes, write out some summaries of standards or formulae. Just start and do something productive this week so you don't waste any more time.

This too, shall pass. In a few months, it'll all be over. Don't deny yourself the best chance at passing this year because you're feeling upset about AAFRP. Get back on track as soon as you can.

Chris Partlow

Hi,

Re audit elective:

Does anyone know where the Director Remuneration notes come from?

I know it says Section 191 of 1963 Co. Act but are we supposed to know the Co. Act or were there notes given out on this?

Thanks

Chris Partlow

smiley00 wrote: »

Hi All,

I am unfortunately a serial repeater when it comes to these exams and will be sitting for the second time this year. Finding it really difficult to pick myself up to go through all the study again. Studied hard for the AAFRP and found it a disaster on the day so I have lost all motivation lately and avoiding the books. Anyone else out there feeling the same way or is it just me??!! Or anyone have any advice apart from just get on with it?!

Hey Smiley,

There are plenty more serial repeaters out there, myself included. If it makes you feel any better my student number begins with 08!

We'll get there eventually.

cian twomey

anyone know if the caasi report on the aafrp exam is out yet, got the notification of the results on the 27th june today so getting a bit nervous

TheDoctor

Wooo AAFRP results!!

Aidodub87

TheDoctor wrote: »

Wooo AAFRP results!!

???

GraGra90

cian twomey wrote: »

anyone know if the caasi report on the aafrp exam is out yet, got the notification of the results on the 27th june today so getting a bit nervous

Hi, Grainne here from CASSI, we will publish the AAFRP Report that we prepared on the CASSI website in the next few days. Please note that this report is merely a balanced feedback report reflecting the feedback received.

The examiner's report will be published by CAI following the results (27th June) and this report should address the comments made by CASSI in our report.

In future if anyone has any queries like this please feel free to e-mail us or message us on facebook and we'll let you know what the story is!

maninblack

Hey is it just me or is there a load of solutions missing from the CAI website?

Mocks:
2012 SIM 1 - Metro Clinic
2012 SIM 2 - Stakabin
2012 SIM 3 - Redemptoria

Sample Papers:
S1 COMP - Active Health
S2 COMP - Black & White

Workshops:
Campus Polymers
Enver Plastics
GPO Limited
Lowland Bank
Moto Assemblers
Sea Bounty

Steps:
Full Metal Jacket

Finance Cases:
Finance Case 1 - Maxparts
Finance Case 2 - Redbrick
Finance Case 3 - Superprint

If anyone has solutions to these I'd really appreciate it!

donnem33

Hi guys, just joined today but have been following this thread for a while. How are people getting on study wise? I am seriously struggling with motivation...has anyone any suggestions on where to even begin. Feeling seriously overwhelmed at the moment!

Reddzer2002

Hi Guys,

Would anyone have a copy of the solution Paul Monaghan handed out in the cross marking workshop please?

TheDoctor

donnem33 wrote: »

Hi guys, just joined today but have been following this thread for a while. How are people getting on study wise? I am seriously struggling with motivation...has anyone any suggestions on where to even begin. Feeling seriously overwhelmed at the moment!

Two phrases/words that are popping up alot these days.

Get all your notes printed and then CASES CASES CASES and then more CASES

Debs23

Hi guys, can anyone who went to the Belfast block week this week give me overview on how to was....useful/not so useful?

I decided to take the days as study leave instead of going to the block week although i'm starting to think maybe I should have went.....

TheDoctor

Yeah I have my block release in Dublin in two weeks. Will only go to 3 of the days. Eating into my study time the week before the mocks.

Debs23

Also... I have booked to do the chartered grind school finance and management accounting course. Their notes are supposed to be very good so if someone is doing a different subject and wants to swap notes let me know!!

conor1979

Debs23 wrote: »

Also... I have booked to do the chartered grind school finance and management accounting course. Their notes are supposed to be very good so if someone is doing a different subject and wants to swap notes let me know!!

Their notes will come as a book. If you want to swap notes you will have to physically hand over the book to someone else!

acastudent

conor1979 wrote: »

Their notes will come as a book. If you want to swap notes you will have to physically hand over the book to someone else!

Ah that's a shame ;( I find book distributed in CGS for AFFRP absolutely useless . Thought last years notes was much better but maybe it's just me .

20 Times 20 Times

acastudent wrote: »

Ah that's a shame ;( I find book distributed in CGS for AFFRP absolutely useless . Thought last years notes was much better but maybe it's just me .

I totally agree with this point - that book CGS gave out for the AAFRP session was useless.

I am hoping for much better notes for their summer classes.

Kat1981

Hi FAE Group I've decided to join ye and hopefully we can motivate eachother until the torture is over in September :-) Has anyone looked at the Steps case Full Metal Jacket yet? Started today but gave up in the end :-( Will start again in a few days. I was hoping we could discuss the case here in our little study group before the solution is published :-) Let me know what you think and how you get on :-)

Kat1981

thumbelinda wrote: »

Guys - anyone on here doing the Sea Bounty Case - indicator 3? The Institute cannot give me contact details for my group but as I am an elevation student I am not sure how the heck I am supposed to make contact with the rest of my group! The Institute said to post a notice on this forum!! Not exactly an efficient way of carrying out this sort of exercise?!

I'm doing the Sea Bounty Case Indicator 4. I also work in business and have no contact to my group. I was thinking to do all 3 Blackwater cases before the workshop but with greater focus on Indicator 4 in the Sea Bounty Case. Don't even know what the 4th indicator is yet, what is if my sequence is different, does it mean I will present the wrong indicator? Really weird :-(

Accountant81

GraGra90 wrote: »

Hi, Grainne here from CASSI, we will publish the AAFRP Report that we prepared on the CASSI website in the next few days. Please note that this report is merely a balanced feedback report reflecting the feedback received.

The examiner's report will be published by CAI following the results (27th June) and this report should address the comments made by CASSI in our report.

In future if anyone has any queries like this please feel free to e-mail us or message us on facebook and we'll let you know what the story is!

Hi Grainne,

Has this report been posted yet? I can't seem to find it on the website. Thanks a million

TheDoctor

Last day of work before study leave

GraGra90

Accountant81 wrote: »

Hi Grainne,

Has this report been posted yet? I can't seem to find it on the website. Thanks a million

Hey, apologies there's been a delay getting it onto the website, I'll follow up. In the meantime if you'd like a copy just e-mail me at (info @ cassi.ie - had to put in the spaces as it wouldn't let me post it otherwise!) and I'll mail you a copy of it if you like.

cian twomey

Hi guys

just wondering if anyone has been keeping up to date with the financial times/business news during the year and if anyone has any notes they could share for business leadership

20 Times 20 Times

GraGra90 wrote: »

Hey, apologies there's been a delay getting it onto the website, I'll follow up. In the meantime if you'd like a copy just e-mail me at (info @ cassi.ie - had to put in the spaces as it wouldn't let me post it otherwise!) and I'll mail you a copy of it if you like.

Emailed sent :

When I receive the report - I will post it up here for all to see.

20 Times 20 Times

here is the report guys .

TheDoctor

A fair report, I would like to thank CASSI for the time and effort they put into these and their effort for the student body