FAE September 2014

LOccitane

Aidodub87 wrote: »

Yeah thought it was excellent!!

Yeah, agreed - It was excellent. More detailed than the AAFRP weekend also. I expect the Man Acc/Finance will be just as good - same lecturer.

More troubling is that we covered material which was relevant to the Mocks (such as the sublet of property on an operating lease or the revision to Goodwill in a Bus Com) but which I had never heard of in any of the CAI lectures that I have ever attended.

katieanne56

myshirt wrote: »

I'm gonna take a wild guess and say that it was Delboy who posted this.

Hitler halfway into the FAEs:

I haven't laughed that hard in a really, really, really long time. If it was you Dellboy, thank you. And to who ever made it, THANK YOU. Awesome.

Accountant81

LOccitane wrote: »

Yeah, agreed - It was excellent. More detailed than the AAFRP weekend also. I expect the Man Acc/Finance will be just as good - same lecturer.

More troubling is that we covered material which was relevant to the Mocks (such as the sublet of property on an operating lease or the revision to Goodwill in a Bus Com) but which I had never heard of in any of the CAI lectures that I have ever attended.

Is that exaninable at core level?? If so that is scary!!! Would anyone be able to post the notes relevant to that topic please?

Dellboy2007

Accountant81 wrote: »

Is that exaninable at core level?? If so that is scary!!! Would anyone be able to post the notes relevant to that topic please?

Course it is, it's pm

TooLate

First Day of Study Leave...where to begin !!!!!!!!!!!!!!!!!!

Dellboy2007

TooLate wrote: »

First Day of Study Leave...where to begin !!!!!!!!!!!!!!!!!!

1) Have a look at your username
2) Get drunk

Accountant81

Dellboy2007 wrote: »

Course it is, it's pm

I thought the CGS course they were talking about was the audit one

myshirt

TooLate wrote: »

First Day of Study Leave...where to begin !!!!!!!!!!!!!!!!!!

Open up the drawer to your right.
Take out the war paint.
Put it on.

Then watch this.

It is time for the battle to commence.

http://goo.gl/xlZxWu

Tyrone2014

Has anyone got the solution to the Full Metal Jacket case??

addda

There was a spreadsheet put up in the student portal today that has all the indicators per case including the 2014 mocks. I can't upload it but its a good way of checking if you got the right indicators in the mocks.

I also noticed that they are changing the course next year. PM will be separated out into financial reporting and management accounting. They also seemed to be getting rid of IMP. The 2014/2015 competency statement is now on the website.

Dellboy2007

addda wrote: »

There was a spreadsheet put up in the student portal today that has all the indicators per case including the 2014 mocks. I can't upload it but its a good way of checking if you got the right indicators in the mocks.

I also noticed that they are changing the course next year. PM will be separated out into financial reporting and management accounting. They also seemed to be getting rid of IMP. The 2014/2015 competency statement is now on the website.

Holy quagmire batman, he's right.

IMP is gone, thought they might lump it into BL.

Strange that despite MA being taken out of PM, FR weighting has increased to 25-30%. Clearly CAI are trying to stress the importance of FR now.

Edit: BL has changed as well, looks like HR, Marketing and change management are gone also, with more emphasis on strategy.

womandriver

addda wrote: »

There was a spreadsheet put up in the student portal today that has all the indicators per case including the 2014 mocks. I can't upload it but its a good way of checking if you got the right indicators in the mocks.

Where did you see this spreadsheet? Can't see it but I only have access to elective material so maybe that's why.

myshirt

womandriver wrote: »

Where did you see this spreadsheet? Can't see it but I only have access to elective material so maybe that's why.

Are you taking core also? Thought you passed?

On the competency statement changes - I suppose it is relevant in one of two ways:

An insight into how the board are thinking, and where their priorities are, or alternatively, an indication that they will be under pressure to go apsh!t this year to kill off a few areas of unfinished business within the competency statement before they move on to pastures anew.

womandriver

myshirt wrote: »

Are you taking core also? Thought you passed?

On the competency statement changes - I suppose it is relevant in one of two ways:

An insight into how the board are thinking, and where their priorities are, or alternatively, an indication that they will be under pressure to go apsh!t this year to kill off a few areas of unfinished business within the competency statement before they move on to pastures anew.

I passed the CORE, repeating the audit elective unfortunately. That's why I only have access to the elective material, did the Institutes revision course so I could sit the mocks.

clearly more emphasis on PM, by splitting it they will ensure Mgt accounting will have to be examined every year now as wasn't previously and obviously increased weighting of FR.

Seems they've seen the light re. IMP tho.

JoanH

Hey boards.ie pals. Any chance somebody could upload this excel spreadsheet from the student portal with all the indicators on it? Please and thank you.

Dellboy2007

JoanH wrote: »

Hey boards.ie pals. Any chance somebody could upload this excel spreadsheet from the student portal with all the indicators on it? Please and thank you.

https://www.dropbox.com/s/047w1b50bx40qen/STUDENT%20COPY%20Integrated%20Cases%20Mapped%20to%20Indicators%20-%20Comp%20Statement.xlsx

2014fae

Hey I did Valentine Nursery case today. Can anyone who has looked at this tell me when doing out the calculations if they do not carry out slopes project where does the other costs at 4% increase of 1,945 come from? Thanks

Tyrone2014

Tyrone2014 wrote: »

Has anyone got the solution to the Full Metal Jacket case??

Has anyone got this answer?

myshirt

Tyrone2014 wrote: »

Has anyone got this answer?

It's on the student portal man.

JoanH

Thanks Dellboy.

FAE14

What kind of hours are people putting in at this stage ?

Myself I am doing 11- 7 with 1hr 30 mins for lunch in that time I'm covering technical material and one case !

Accountant81

FAE14 wrote: »

What kind of hours are people putting in at this stage ?

Myself I am doing 11- 7 with 1hr 30 mins for lunch in that time I'm covering technical material and one case !

I'm doing similar. 8:30/9 - 4 with 1 hr for lunch and plenty of time looking at my phone in between! Trying to finish off the technical stuff in the next week but will keep revising a couple of IASs and ISAs every day til the exams and doing at least one Derry Cotter case a day plus another one from the bank of cases we have if I have time. Just finished tax book now so that'll leave me more time for more cases from next week. Are people taking weekends off?

FAE14

Accountant81 wrote: »

I'm doing similar. 8:30/9 - 4 with 1 hr for lunch and plenty of time looking at my phone in between! Trying to finish off the technical stuff in the next week but will keep revising a couple of IASs and ISAs every day til the exams and doing at least one Derry Cotter case a day plus another one from the bank of cases we have if I have time. Just finished tax book now so that'll leave me more time for more cases from next week. Are people taking weekends off?

I haven't studied one weekend yet - 8 weeks to go I didn't see any reason to study 7 days a week YET !

Accountant81

FAE14 wrote: »

I haven't studied one weekend yet - 8 weeks to go I didn't see any reason to study 7 days a week YET !

Phew! Me neither. I'm sure that time is coming soon though! For me anyway.

Casio88

Guys can anyone tell me where the link is on the icai website for the audit ISA 600 lecture please?

Casio88

Casio88 wrote: »

Guys can anyone tell me where the link is on the icai website for the audit ISA 600 lecture please?[/QUOTE

Wait I found it!

womandriver

Solutions to the mock papers are up on the website

TheDoctor

Mock results out August 1 and can collect scripts on that day

Mock solutions on website

Dellboy2007

TheDoctor wrote: »

Mock results out August 1 and can collect scripts on that day

Mock solutions on website

Audit Elective solution doesn't look too bad. The core seems to have an awful lot of volume in it, I know they are HC solutions but even still.

FAE14

Anyone else feel that PM is going to be a MASSIVE uphill battle after getting an RC in the AAFRP !!

The C answer in the mocks is outrageous !

lowenstein

ya that FR looked very tough. Ive kind of ignored FR, thinking green in AAFRP would get me through but looking at that is a serious wake up call. have to start having a look at that derry cotter book

Debs23

Accountant81 wrote: »

I'm doing similar. 8:30/9 - 4 with 1 hr for lunch and plenty of time looking at my phone in between! Trying to finish off the technical stuff in the next week but will keep revising a couple of IASs and ISAs every day til the exams and doing at least one Derry Cotter case a day plus another one from the bank of cases we have if I have time. Just finished tax book now so that'll leave me more time for more cases from next week. Are people taking weekends off?

How long did it take u to do the tax book?
Will u have the elective material covered by next week aswel? Im ignoring it at this stage!

Accountant81

Debs23 wrote: »

How long did it take u to do the tax book?
Will u have the elective material covered by next week aswel? Im ignoring it at this stage!

Not too long been slowly chipping away ya it for about 3 weeks but it can defo be done faster than that. It's really only 8 chapters as chp 9 is a summary and chp 10 is on revenue audits which a lot of us might know anyway from work. I'm doing APM and that book is monstrous. Not to mention really out of date so taking much longer. Only on chp 4 if 10. Gonna keep going slowly through that.

Accountant81

lowenstein wrote: »

ya that FR looked very tough. Ive kind of ignored FR, thinking green in AAFRP would get me through but looking at that is a serious wake up call. have to start having a look at that derry cotter book

I've been doing a good bit of FR and still missed loads here. Holy Mother of God is this a wake up call!!

TheDoctor

Yeah PM will be hardest to pass by a good margin

ESP after a RC in the AAFRP

Hopefully will get a nice management accounting indicator in the real thing and a handy standard

Accountant81

PM has to be what gets most people that fail I reckon.

Dellboy2007

TheDoctor wrote: »

Yeah PM will be hardest to pass by a good margin

ESP after a RC in the AAFRP

Hopefully will get a nice management accounting indicator in the real thing and a handy standard

When is the exam set? Is it not March, before the aafrp? Isn't it also completely different people who write the papers?

Even if they do give hard pm, they will still pass 74% of people. Them solutions in the mock are *suggested*, if that came up in be real thing i'd be very surprised if the marking scheme wasn't adjusted. IMO

PhilipLuke

If anyone picked all that up on Financial Reporting well fair play to them!!

Nermal

I don't mind getting something wrong. I do mind it when I just completely miss something, like being expected to disagree with the DCF factor... I don't have time to question literally everything I'm presented with, I'm too busy writing.

Accountant81

Nermal wrote: »

I don't mind getting something wrong. I do mind it when I just completely miss something, like being expected to disagree with the DCF factor... I don't have time to question literally everything I'm presented with, I'm too busy writing.

Absolutely. Couldn't believe that one! I suppose though this is where the idea of practicing shed loads of cases comes in. The more cases we do the more likely we are to spot things like that. Little tricks like that. Time to start eating the case studies clearly!

LOccitane

Nermal wrote: »

I don't mind getting something wrong. I do mind it when I just completely miss something, like being expected to disagree with the DCF factor... I don't have time to question literally everything I'm presented with, I'm too busy writing.

If I was worried before these Mock Paper Solutions....

I mentioned that it (DF) was unconventionally low (relative to the Bank Overdraft rate) but I certainly didn't have time to recompute the entire DCF analysis. I'd love to know how long it would take somebody in person to re-produce these suggested solutions in handwriting.

Worse still, I reckon I have a decent chance of doing alright in the Audit Elective (based on the solutions) but will likely fail Audit in the CORE Mock!

As for the ''Ethics of Financial Reporting'' indicator in the CORE Mock Simulations Solution.... There's one that I definitely didn't expand on....

Overall - these Suggested Solutions are worrying TBH in terms of the requirement for achieving C across a lot of the indicators (the volume of relevant information which is being sought). Also - I understood the CORE Comprehensive Paper to require the issues addressed in a briefing Memo. To require individual addressed letters within these Memos is excessive...

A huge amount of work to be done in the next 7 or so weeks.

No more ''downtime'' between the CGS days!

LOccitane

Mavic09

Trying to improve technical piece on audit & assurance- has anyone a soft copy of the Old FAE papers and solutions- pre 2010. They've been taken down from the ICAI site- chances are another repeater on here might have then handy?!

Cheers!

Mavic09

Trying to improve technical piece on audit & assurance- has anyone a soft copy of the Old FAE papers and solutions- pre 2010. They've been taken down from the ICAI site- chances are another repeater on here might have them handy?!

Cheers!

DTOWN

Hi,

In relation to the Chartered Grinds school for Financial Accounting, did they issue the same book as the AAFRP or was there another book for the course (More of a quick summary).

I know the Financial management book for FAE was just OK in the past. Has this changed much.

Thanks for the help guys. (Trying to see whether panic buying the books is worthwhile!)

acastudent

DTOWN wrote: »

Hi,

In relation to the Chartered Grinds school for Financial Accounting, did they issue the same book as the AAFRP or was there another book for the course (More of a quick summary).

I know the Financial management book for FAE was just OK in the past. Has this changed much.

Thanks for the help guys. (Trying to see whether panic buying the books is worthwhile!)

It's not the same book as for AAFRP . 3 sections in it . Quick overview of IASs/IFRS then questions and answers .

DTOWN

Thanks acastudent.

would it be worthwhile paying €40 for?

acastudent

DTOWN wrote: »

Thanks acastudent.

would it be worthwhile paying €40 for?

Nah I don't think so to be honest . I think it's more about being in the class and doing questions . Notes it's just a notes iykwim

20 Times 20 Times

acastudent wrote: »

It's not the same book as for AAFRP . 3 sections in it . Quick overview of IASs/IFRS then questions and answers .

Do you wanna swap the fr notes for Bl/imp notes?

acastudent

Little Pea wrote: »

Do you wanna swap the fr notes for Bl/imp notes?

I am doing all grinds so I guess no point of swapping really but if you want to have a look at FR book I don't mind . Just have to find the way how ??? I can't scan it

20 Times 20 Times

acastudent wrote: »

I am doing all grinds so I guess no point of swapping really but if you want to have a look at FR book I don't mind . Just have to find the way how ??? I can't scan it

To be honest I just wanted it for the extra questions! Cheers though much appreciated