FAE September 2014

autumnbelle

As I said I think he's a good lecturer I think doing cases in a class is a waste I just think he doesn't understand the faes. I want to do the technical stuff but the reliefs are part of what we need. Ah hopefully tomorrow.

LOccitane

autumnbelle wrote: »

As I said I think he's a good lecturer I think doing cases in a class is a waste I just think he doesn't understand the faes. I want to do the technical stuff but the reliefs are part of what we need. Ah hopefully tomorrow.

There's a bit of an unhealthy focus on ACCA Papers/Questions alright! If you consider the Mock exam for example - we were not asked to calculate the Deferred Gain WRT the Transfer of a Business relief... At the same time, I do think he is stressing the critical points well - Close company issues etc.

On both today and the BL days during the week there is a very clear 'Cases will be covered on the Integrated Case Days' type message.

The difficulty with the CGS sessions is that you cannot really tackle much between them! Getting into the cases from now and I believe that's the way to go until at least Mid August.

autumnbelle

LOccitane wrote: »

There's a bit of an unhealthy focus on ACCA Papers/Questions alright! If you consider the Mock exam for example - we were not asked to calculate the Deferred Gain WRT the Transfer of a Business relief... At the same time, I do think he is stressing the critical points well - Close company issues etc.

On both today and the BL days during the week there is a very clear 'Cases will be covered on the Integrated Case Days' type message.

The difficulty with the CGS sessions is that you cannot really tackle much between them! Getting into the cases from now and I believe that's the way to go until at least Mid August.

Yeah I've got nothing done in between. Lecture is already better today!

LOccitane

autumnbelle wrote: »

Yeah I've got nothing done in between. Lecture is already better today!

Yeah, it's a little better alright - definitely more emphasis on the notion of cases!

kenner24

LOccitane wrote: »

Yeah, it's a little better alright - definitely more emphasis on the notion of cases!

Anyone kind of annoyed though that we arent getting a proper chance to work through questions individually though? Were either not getting enough time to do it or he talks all the way through it. One of the benefits of these classes is working through questions then learning from mistakes in the class. Im just not getting that here

autumnbelle

Yeah but 90% of people wouldn't do them:/ on another note has anyone any advise on how to set up folders and key things needed in them finishing off mine hopefully as soon as I can. Cap2 folder for audit and finance or would these be no use

kenner24

Are people watching those online sessions at all? I dont know where ill find the time!!

Accountant81

Anyone able to shed any light on the tax indicator of the De Vere case study?

Philip1988

Accountant81 wrote: »

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.

Any luck finding out about these?

maninblack

Been to every CGS class thus far and to be honest, very disappointed!

The entire programme feels like an ACCA course being only slightly tweaked to fit our ACA requirements. All the questions done in class are past ACCA papers or else the old multi-d FAE papers from 15 years ago! It just comes off as lazy on the lecturers part that they couldn't find an example of something like retirement relief being examined on a recent Chartered case.

Was especially disappointed in the Finance and Taxation classes where we were trawling through heaps of very detailed low-level calculations whereas the FAE is generally more discussion-based on these topics when they have been examined. Waste of money, but more importantly time!!

Dellboy2007

maninblack wrote: »

Been to every CGS class thus far and to be honest, very disappointed!

The entire programme feels like an ACCA course being only slightly tweaked to fit our ACA requirements. All the questions done in class are past ACCA papers or else the old multi-d FAE papers from 15 years ago! It just comes off as lazy on the lecturers part that they couldn't find an example of something like retirement relief being examined on a recent Chartered case.

Was especially disappointed in the Finance and Taxation classes where we were trawling through heaps of very detailed low-level calculations whereas the FAE is generally more discussion-based on these topics when they have been examined. Waste of money, but more importantly time!!

The finance lecturer is a great lecturer. I would agree that they could gear it to the new fae's a bit more. There was moments where I didn't bother taking stuff down because I knew there was no possible way it could come up.

Philip1988

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!

Any luck?

Accountant81

Philip1988 wrote: »

Any luck finding out about these?

Yeah I am still trying to decide. Not sure if it is overkill. I have already gone to a few of the CGS courses so not sure really. Would it be a waste of more money cos I found the CGS classes not great and I agree with what other people have said above. I think Liam doran is amazing but he spent a good hour working through a budget one day that I think was a total waste of time. When we are at FAE level I think it is safe to assume we all know how to work through a budget.

FAE14

maninblack wrote: »

Been to every CGS class thus far and to be honest, very disappointed!

The entire programme feels like an ACCA course being only slightly tweaked to fit our ACA requirements. All the questions done in class are past ACCA papers or else the old multi-d FAE papers from 15 years ago! It just comes off as lazy on the lecturers part that they couldn't find an example of something like retirement relief being examined on a recent Chartered case.

Was especially disappointed in the Finance and Taxation classes where we were trawling through heaps of very detailed low-level calculations whereas the FAE is generally more discussion-based on these topics when they have been examined. Waste of money, but more importantly time!!

I agree with this !!! I couldn't of put it better myself.

FAE14

Accountant81 wrote: »

Yeah I am still trying to decide. Not sure if it is overkill. I have already gone to a few of the CGS courses so not sure really. Would it be a waste of more money cos I found the CGS classes not great and I agree with what other people have said above. I think Liam doran is amazing but he spent a good hour working through a budget one day that I think was a total waste of time. When we are at FAE level I think it is safe to assume we all know how to work through a budget.

YOu will get more out of studying FR yourself for Two days !

Accountant81

FAE14 wrote: »

YOu will get more out of studying FR yourself for Two days !

Yeah that's kind of what I am thinking alright. More money for more notes saying the same thing.

FAE14

Accountant81 wrote: »

Yeah that's kind of what I am thinking alright. More money for more notes saying the same thing.

Sit down and cover 10 standards each day for two days = 20/37(including IFRS )

You will be in better shape honestly.

maninblack

FAE14 wrote: »

Sit down and cover 10 standards each day for two days = 20/37(including IFRS )

You will be in better shape honestly.

Have to agree with that!

I've said it before in this thread but honestly it's the best way.

I printed off Session 1 to 6 from the Launch notes and got them bound in Reads on Nassau St for like 2 euro. Then I just tabbed that book of notes and honestly, it's a better resource for FR than you'll find in ANY grind school or elsewhere. If you work through those notes you WILL pass FR.

FAE14

maninblack wrote: »

Have to agree with that!

I've said it before in this thread but honestly it's the best way.

I printed off Session 1 to 6 from the Launch notes and got them bound in Reads on Nassau St for like 2 euro. Then I just tabbed that book of notes and honestly, it's a better resource for FR than you'll find in ANY grind school or elsewhere. If you work through those notes you WILL pass FR.

Yeah - I think people are of the idea that the CGS will pass and sit the exams for them ....

NO !!

The people going to that grind in FR tomorrow will need to cover all them standards again anyway ! So by not going and covering them for two days your ahead or people takin these grinds , if that makes sense .

jny107

maninblack wrote: »

Have to agree with that!

I've said it before in this thread but honestly it's the best way.

I printed off Session 1 to 6 from the Launch notes and got them bound in Reads on Nassau St for like 2 euro. Then I just tabbed that book of notes and honestly, it's a better resource for FR than you'll find in ANY grind school or elsewhere. If you work through those notes you WILL pass FR.

Are you talking about Derry Cotter's launch notes? Also - what does his book look like that everyone is talking about for practice cases??

NBA1998

Paul Monaghan keeps going on about consolidation journals etc. Can someone please give me tips or attach a document that will aid me in revising this topic. Can you also let me know the cases were this has been asked. Thanks

Philip1988

Has anybody got good mind maps?

PhilipLuke

NBA1998 wrote: »

Paul Monaghan keeps going on about consolidation journals etc. Can someone please give me tips or attach a document that will aid me in revising this topic. Can you also let me know the cases were this has been asked. Thanks

I think people are reading too much into what Paul Monahan says!! He has been saying since the FAE has started that he thinks consolidation will come up!! He is bound to be right eventually but the fact is he probably hasn't seen the paper and should not be putting notions in students heads!!

Dellboy2007

PhilipLuke wrote: »

I think people are reading too much into what Paul Monahan says!! He has been saying since the FAE has started that he thinks consolidation will come up!! He is bound to be right eventually but the fact is he probably hasn't seen the paper and should not be putting notions in students heads!!

I agree. If all the things come up which people are predicting: consol, tp, group audit, group relief, etc; I'd be very surprised if 74% of people passed. That would be a very tough paper imo

JoanH

Hi everybody. I'm looking for some solutions for some cases. I don't have anything posted into my student site (I'm a repeater). The solutions I'm looking for are-

Full Metal Jacket
Glenn Pets
Canny Milking Equipment
Ranger Displays

It would be brilliant if somebody upload these solutions.
Cheers

PhilipLuke

Dellboy2007 wrote: »

I agree. If all the things come up which people are predicting: consol, tp, group audit, group relief, etc; I'd be very surprised if 74% of people passed. That would be a very tough paper imo

Yeah, look at the end of the day you need to have a competent knowledge of everything you have done since college! You need to be able to apply that knowledge like a qualified accountant and give relevant and thorough advice!

All this nonsense about what Paul did and didn't say, give me a break!

I think people are getting too hung up on indicators and RC.C & HC aswell but thats down to the way the course has been lectured

(Rant over)

myshirt

Philip1988 wrote: »

Has anybody got good mind maps?

Loads on last years thread. Here is one for example.... on a very important standard... IAS 37... all you need, on one page.

What you do is trial test it against all IAS 37 Questions, and add to it if necessary.
FAE Board made a comment, and I think it's bang on the money... highly personalised notes are essential for FAE.

For me, I have 6 bound booklets of notes I wrote myself / copied and pasted / consolidated into one, from all sources could find, covering the course. That is what will be on my desk. Everything else is for back up.

Edit - just attached another, on obtaining engagement in audits.

Philip1988

myshirt wrote: »

Loads on last years thread. Here is one for example.... on a very important standard... IAS 37... all you need, on one page.

What you do is trial test it against all IAS 37 Questions, and add to it if necessary.
FAE Board made a comment, and I think it's bang on the money... highly personalised notes are essential for FAE.

For me, I have 6 bound booklets of notes I wrote myself / copied and pasted / consolidated into one, from all sources could find, covering the course. That is what will be on my desk. Everything else is for back up.

Edit - just attached another, on obtaining engagement in audits.

Thanks. Did you get these on last years thread?

myshirt

Philip1988 wrote: »

Thanks. Did you get these on last years thread?

Yes - just go to the main accountancy forum which lists all the accountancy threads. To the right of the FAE 2013 thread, you will see a paper clip icon. Click on that and all the attachments to that thread will come up.

littlemiss123

Has anyone done the Healthfirst Group in Derry's cases book?

For the deferred tax part 3(d), I cannot understand why the development costs are a taxable temporary difference, I thought they would have been a deductible temporary difference? Although granted I accept the book is probably right but I just can't figure out how it is taxable!

Does anyone have a fool proof step-by-step method for deferred tax? It's my achilles heel, no matter what approach I take I just get mixed up!!

Dellboy2007

littlemiss123 wrote: »

Has anyone done the Healthfirst Group in Derry's cases book?

For the deferred tax part 3(d), I cannot understand why the development costs are a taxable temporary difference, I thought they would have been a deductible temporary difference? Although granted I accept the book is probably right but I just can't figure out how it is taxable!

Does anyone have a fool proof step-by-step method for deferred tax? It's my achilles heel, no matter what approach I take I just get mixed up!!

1) Identify if it is an asset or liability

2) If it is an asset:

NBV > Tax base = Recognise DTL
Tax Base > NBV = Recognise DTA

If it is a liability:

NBV > Tax base = Recognise DTA
Tax Base > NBV = Recognise DTL


I don't have the question in front of me but I'm presuming the development costs are an asset and greater than the tax base as in bold above.

littlemiss123

Dellboy2007 wrote: »

1) Identify if it is an asset or liability

2) If it is an asset:

NBV > Tax base = Recognise DTL
Tax Base > NBV = Recognise DTA

If it is a liability:

NBV > Tax base = Recognise DTA
Tax Base > NBV = Recognise DTL


I don't have the question in front of me but I'm presuming the development costs are an asset and greater than the tax base as in bold above.

Thanks Dellboy, I think the problem I see to have each time is calculating the tax base. Anyway, I'll just keep practicing and hope something clicks!

Yeah the development costs are an asset and are fully paid therefore allowable as a tax deduction in the current year.

Dellboy2007

JoanH wrote: »

Hi everybody. I'm looking for some solutions for some cases. I don't have anything posted into my student site (I'm a repeater). The solutions I'm looking for are-

Full Metal Jacket

It would be brilliant if somebody upload these solutions.
Cheers

Here's the above mentioned solution from the student services website

JoanH

Thanks Dellboy. There's nothing being posted to my student site so that's why I'm relying on the kindness of boards.ie people. I'm still looking for these solutions tho'.....if anybody has them please post.

Glenn Pets
Canny Milking Equipment
Ranger Displays

Not a tall

Hi everyone, does anyone know if Internal Audits were covered in any of the Audit lectures or online sessions?

Paul Monohan mentioned them last week as something that could come up but I don't remember seeing it in the notes and it doesn't seem to be mentioned in the Planning and Delivery Schedule.

20 Times 20 Times

Liam doran is a hero!!!

acastudent

Little Pea wrote: »

Liam doran is a hero!!!

?

NBA1998

Has anyone got any decent notes on consolidation, the journals required and plenty of examples or can anyone direct me to where I can find them? I have been using the grind school notes and I feel they aren't suited as much for FAE.

Accountant81

What are people's thoughts on working from the standards versus just using Derry Cotter's notes to study FR? Are his notes detailed enough do you think? I've tried studying from the standards themselves and find it so time consuming. Do people think it is worth it?

littlemiss123

Accountant81 wrote: »

What are people's thoughts on working from the standards versus just using Derry Cotter's notes to study FR? Are his notes detailed enough do you think? I've tried studying from the standards themselves and find it so time consuming. Do people think it is worth it?

Personally I do find his notes sufficient for gaining a good foundation. Then, when I'm doing the questions, if something specific comes up that I'm am not sure how to treat I go to the standards book for further clarification. For the AARFP I started studying by the standards book and it just became way too time consuming.

Abbey14

I am looking at FR too, his notes are supposed to be good and I am going to do the case study book for the evening but with regards a book i was going to bring the IFRS red book but which should I be working off the Part A or Part B? I want to start looking through one book to have as a point of reference in the exam incase something specific comes up.

littlemiss123

Abbey14 wrote: »

I am looking at FR too, his notes are supposed to be good and I am going to do the case study book for the evening but with regards a book i was going to bring the IFRS red book but which should I be working off the Part A or Part B? I want to start looking through one book to have as a point of reference in the exam incase something specific comes up.

Part A contains the 'standards' as such. Part B contains 'illustrations, further examples, and accompanying documents', i.e. is further expansion on part A.

autumnbelle

Has anyone any good notes on imp?

padraigpower

Could someone tell me if the CGS classes run all the way up to 5 o'clock or do they finish early like standard lectures?

autumnbelle

No they go to 5 o clock

Accountant81

autumnbelle wrote: »

Has anyone any good notes on imp?

I'm just using the ones I found on last year's thread for IMP and hoping that will be enough. I don't have them with me so can't upload but if you go through the attachments on that thread you will find them. Hope that helps.

padraigpower

autumnbelle wrote: »

No they go to 5 o clock

Thanks

myshirt

Why is the pass rate for repeaters so low?

womandriver

myshirt wrote: »

Why is the pass rate for repeaters so low?

I got a sick feeling in my stomach when I read that. Repeating the elective and really need to get it

myshirt

womandriver wrote: »

I got a sick feeling in my stomach when I read that. Repeating the elective and really need to get it

I'm repeating the whole f'kn thing - I'm very worried.