FAE September 2014

iwishihadaname

Accountant81 wrote: »

He's tipping the new ISAs too which tie in with consolidation.

New ISA's?

BigMawn12

I was assuming this meant the new IFRSs such as IFRS 13 re fair value etc. which would tie in with consolidation (goodwill)

FlyingSolo13

What was the perception of the mock comp financial reporting indicators? Im looking at the solution and still seems complicated!

The style is very different to derry cotters cas book. Does any one recommend any other good sources of fr questions for study?

FlyingSolo13

What was the perception of the mock comp financial reporting indicators? Im looking at the solution and still seems complicated!

The style is very different to derry cotters cas book. Does any one recommend any other good sources of fr questions for study?

FlyingSolo13

What was the perception of the mock comp financial reporting indicators? Im looking at the solution and still seems complicated!

The style is very different to derry cotters cas book. Does any one recommend any other good sources of fr questions for study?

PhilipLuke

FlyingSolo13 wrote: »

What was the perception of the mock comp financial reporting indicators? Im looking at the solution and still seems complicated!

The style is very different to derry cotters cas book. Does any one recommend any other good sources of fr questions for study?

To be honest did anyone in the country lay out the two indicators like that solution??

2014fae

Is mock review going to be recorded

Accountant81

iwishihadaname wrote: »

New ISA's?

ISA 600,610 and the one on internal audit too. Can't remember the number.

Dellboy2007

Accountant81 wrote: »

ISA 600,610 and the one on internal audit too. Can't remember the number.

Why do people keep saying these are new ISA's, they were on it last year.

In fact they have not been updated since 2009.

Accountant81

Dellboy2007 wrote: »

Why do people keep saying these are new ISA's, they were on it last year.

In fact they have not been updated since 2009.

It's what Paul M said

littlemiss123

Dellboy2007 wrote: »

Why do people keep saying these are new ISA's, they were on it last year.

In fact they have not been updated since 2009.

ISA 600 and 610 were not on the FAE course last year, according to the 2012/2013 competency statement still on the website anyway.

littlemiss123

Accountant81 wrote: »

ISA 600,610 and the one on internal audit too. Can't remember the number.

Is ISA 610 not the internal audit one? Or is there another one?

Dellboy2007

littlemiss123 wrote: »

ISA 600 and 610 were not on the FAE course last year, according to the 2012/2013 competency statement still on the website anyway.

What competency statement are you looking at? See page 9

http://students.charteredaccountants.ie/Global/syllabus/Addendum%20to%20Competency%20Statements%202012%202013.pdf

That's last years

littlemiss123

Dellboy2007 wrote: »

What competency statement are you looking at? See page 9

http://students.charteredaccountants.ie/Global/syllabus/Addendum%20to%20Competency%20Statements%202012%202013.pdf

That's last years

I believe they have been on the elective the last few years but are new to the core which is what everyone is talking about, because they might come up along with consolidation. See page 26 of the competency statement, they were not on last year's core exam:

http://students.charteredaccountants.ie/Global/syllabus/FAE/FAE%20Competency%20Statement%202012%202013%20FINAL.pdf

Accountant81

Dellboy2007 wrote: »

What competency statement are you looking at? See page 9

http://students.charteredaccountants.ie/Global/syllabus/Addendum%20to%20Competency%20Statements%202012%202013.pdf

That's last years

It doesn't matter really. It's beside the point

Accountant81

littlemiss123 wrote: »

Is ISA 610 not the internal audit one? Or is there another one?

Sorry yes. My bad!

cian twomey

anyone hear from CGS yet in relation to what we need for the tax course this weekend?

Scania88

Hi Michael Farrell had mentioned that if we wanted a quick synopsis of the FR standards that a good place to go was the Deloitte website? Has anyone been able to find these that can direct me to the right place as I can't find them anywhere.

Many thanks.

Reddzer2002

Scania88 wrote: »

Hi Michael Farrell had mentioned that if we wanted a quick synopsis of the FR standards that a good place to go was the Deloitte website? Has anyone been able to find these that can direct me to the right place as I can't find them anywhere.

Many thanks.

I think the website he mentioned was IAS plus. Try googling IAS Plus deloitte. I can't post a link yet but will pm it to you.

vnervous

We need tax reference material and the intergrated self study case book for the cha revision course

swoggle

BigMawn12 wrote: »

What is Paul M tipping this year to defo come up? He was right about management last year..

quote="littlemiss123;91301839"]I think consolidation is his big tip. Hasn't come up yet in the new FAE course...I really hope he's wrong [/quote]

Well he said 50/50 chance and if not, definitely next year as more scope due to FR being worth 20-25% on its own next year.

He seems to be focusing on CG and Audit which was answered badly last year and has two new standards.

swoggle

The Little Fella wrote: »

Hard to know, I've been going through the competency statement for the last two weeks going over technical stuff, won't start cases until middle of next week. I have attached the study plan I am on at the moment. I don't think it was worth starting cases without revising over what I did last year. Find it hard to motivate myself to study when its all the same rubbish from last year.

Not that I can talk as I have done f all technical and only a few cases but.. it looks like you're putting a lot of effort into Finance and Tax both of which you only need RC. I feel like these are quite easy to do OK in and will pick up a lot by doing the cases.

I think it's really important to start doing cases asap. Cases might highlight your weak areas as well as help see how much detail is actually needed and you can let this guide your technical study..? That's just my opinion though, everyone's different.

Apparently a vast majority of people that fail are the ones that start cases late.

Accountant81

swoggle wrote: »

Not that I can talk as I have done f all technical and only a few cases but.. it looks like you're putting a lot of effort into Finance and Tax both of which you only need RC. I feel like these are quite easy to do OK in and will pick up a lot by doing the cases.

I think it's really important to start doing cases asap. Cases might highlight your weak areas as well as help see how much detail is actually needed and you can let this guide your technical study..? That's just my opinion though, everyone's different.

Apparently a vast majority of people that fail are the ones that start cases late.

I agree it's important to do the cases but I find it pointless if the technical knowledge isn't there. As Paul himself said, plug the technical gaps and then start the cases. As you say everyone is different but personally I am going to keep plugging away at the standards for a few more days while also doing the Derry cotter cases and will move on to the proper cases in the next week or so. But that's just me. I guess everyone has their own approach!

swoggle

Accountant81 wrote: »

I agree it's important to do the cases but I find it pointless if the technical knowledge isn't there. As Paul himself said, plug the technical gaps and then start the cases. As you say everyone is different but personally I am going to keep plugging away at the standards for a few more days while also doing the Derry cotter cases and will move on to the proper cases in the next week or so. But that's just me. I guess everyone has their own approach!

Yeah I definitely think spending time on FR is a wise decision- it's so technical, need a C and don't think you can pick up much from cases. I would just be wary of focusing too much attention on RC subjects like Finance, Tax and IMP.

Accountant81

swoggle wrote: »

Yeah I definitely think spending time on FR is a wise decision- it's so technical, need a C and don't think you can pick up much from cases. I would just be wary of focusing too much attention on RC subjects like Finance, Tax and IMP.

I agree with you on that definitely. I'm defo focussing on FR as that is where my weak point is and as you rightly say it needs to be of a higher standard to get over the line!

PhilipLuke

Does anyone know where the direct cost of manufacture figures come from in the Primus Pet Foods solution

BigMawn12

Could someone do me a big favour and upload me a copy of the Tax NI lecture notes for the last lecture. Don't think I can listen to any more of the lecture without falling asleep.

Accountant81

Has anyone looked at the new Steps case study yet - DeVere?

Ekels

Finished the cases in the self-study case book. What are people's opinions on the cases to tackle next? All the Steps cases followed by the past papers?

It's really funny how the PM works. I'm quite strong at management accounting and got a C in the AAFRP with quite a bit of work. I wouldn't say I'm very strong technically in terms of FR but if there are 2 indicators in PM over the 2 days and one is management accounting then I'm well set.

As it stands, I haven't much done on FR (since AAFRP study) so must launch into Derry Cotter's book over the next while.

Accountant81

Ekels wrote: »

Finished the cases in the self-study case book. What are people's opinions on the cases to tackle next? All the Steps cases followed by the past papers?

It's really funny how the PM works. I'm quite strong at management accounting and got a C in the AAFRP with quite a bit of work. I wouldn't say I'm very strong technically in terms of FR but if there are 2 indicators in PM over the 2 days and one is management accounting then I'm well set.

As it stands, I haven't much done on FR (since AAFRP study) so must launch into Derry Cotter's book over the next while.

There will be 4 PM indicators over the 2 days.

FAE14

Accountant81 wrote: »

There will be 4 PM indicators over the 2 days.

or three.

FAE14

Ekels wrote: »

Finished the cases in the self-study case book. What are people's opinions on the cases to tackle next? All the Steps cases followed by the past papers?

It's really funny how the PM works. I'm quite strong at management accounting and got a C in the AAFRP with quite a bit of work. I wouldn't say I'm very strong technically in terms of FR but if there are 2 indicators in PM over the 2 days and one is management accounting then I'm well set.

As it stands, I haven't much done on FR (since AAFRP study) so must launch into Derry Cotter's book over the next while.

Sure arent you just great. Might as well pass you now.

FlyingSolo13

Hi All,

can anybody tell me if the online FAE performance measurement course on chartered education is worthwhile?
It's €100 for the course and materials. Need all the help I can get in PM, just wondering if it's too late and whether it would be time & money better spent elsewhere?

Starting to freak out about PM!

Accountant81

FlyingSolo13 wrote: »

Hi All,

can anybody tell me if the online FAE performance measurement course on chartered education is worthwhile?
It's €100 for the course and materials. Need all the help I can get in PM, just wondering if it's too late and whether it would be time & money better spent elsewhere?

Starting to freak out about PM!

That's gas I was going to ask the same thing! Freaking out a bit too! Would love to know if anyone else has used it.

Accountant81

FAE14 wrote: »

or three.

I thought it was defo 4 PM AND BL indicators and then max 2 for the others?

R0N BURGUNDY

Lads - seen those mindmaps about the place. If it's a weak area, I'd say it would be worthwhile. Why don't you two go halfers on it and share the expense? ;@)

Has anyone got a zip file of NI tax they could upload? Looks like a lot of crap has been updated from last year :S Wish there was an NI tax course somewhere.

FAE14

R0N BURGUNDY wrote: »

Lads - seen those mindmaps about the place. If it's a weak area, I'd say it would be worthwhile. Why don't you two go halfers on it and share the expense? ;@)

Has anyone got a zip file of NI tax they could upload? Looks like a lot of crap has been updated from last year :S Wish there was an NI tax course somewhere.

What mind maps ?? Can you link me please to the post with the mind maps

GraGra90

Accountant81 wrote: »

I thought it was defo 4 PM AND BL indicators and then max 2 for the others?

Think about it this way:

Comprehensive case study has 7-9 indicators total
Sims case studies have 2-5 indicators each

That means there will be a maximum of 19 indicators over the 2 days. Add in the AAFRP indicator and you've got 20.

Look at the weightings attached to each of the super six in the competency statement e.g. PM is 20-25%. Assuming the maximum of 20 indicators total, 20-25% is 4-5 indicators. AAFRP counts as one so there will be a max of 3-4 indicators over the 2 days. BL is 20-25% so a max of 4-5 indicators. Audit, Tax, Finance and IMP are all 10-15% so again, assuming the max of 20 indicators, the most you can get for each is 2-3 indicators over the 2 days.

Technically speaking the lowest total indicators there could be is 12 (7 in the comp, 2 in each sim, 1 AAFRP). I believe the total number of indicators has been in or around 17 or 18 over the past couple of years but that's just vague memory from the mock exam review last week so don't quote me on that!

Hope that helps!

Accountant81

Thanks Grainne!

autumnbelle

Has the cgs tax lecturer looked at faes think it's way to detailed for core

Aidodub87

autumnbelle wrote: »

Has the cgs tax lecturer looked at faes think it's way to detailed for core

The GCS course? It's way too detailed?

20 Times 20 Times

autumnbelle wrote: »

Has the cgs tax lecturer looked at faes think it's way to detailed for core

So bad, notes are terrible and lecture is so hungover from last night!!!

I've a good mind to complain

Aidodub87

Little Pea wrote: »

So bad, notes are terrible and lecture is so hungover from last night!!!

I've a good mind to complain

Really? I was panicking on Thursday that I wasn't going to it...

autumnbelle

Were covering things that there isn't a hope of coming up. Not even a summary of the reliefs in the book. He would be ok if he knew how fae worked.

20 Times 20 Times

autumnbelle wrote: »

Were covering things that there isn't a hope of coming up. Not even a summary of the reliefs in the book. He would be ok if he knew how fae worked.

Someone needs to ask him to apply this to cases!!

autumnbelle

Pity cos cap2 tax book with cgs was great:( and I'm doing elective. I think he's an ok lecturer though just no body who knows fae would do it this way. Yeah deffo need to say about cases

autumnbelle

And there's no marks in the exam ��

vnervous

What a waste of €150...that man hasn't a clue of the fae's !

sineadio

Guys, I think you're being a little harsh. He is going through the technical stuff that is listed in our tax planning guide so we have something to use in the exam. Fair enough, there should be some cross over with the case study but he is giving a solid grounding in the tax required for the exam.

R0N BURGUNDY

That's what CGS is all about = technical material. Sure you learn how to apply technial material yourself when doing all the cases. It's hard to teach that side of things. Fu<k I hate FAEs. Total minefield. I need to get doing cases again. Just been doing all technical stuff so far..