FAE September 2014

Dellboy2007

cian twomey wrote: »

regarding IMP as it is the last year as one of the super 6 do you think it would be enough just to cover past questions for the exam and it would seem unlikely that they would ask something overly difficult in this area?

Regardless of how tough IMP is in the exam, it's hard to see the institute failing people on something that can't be repeated. Of course you'd still have to make a good attempt at it.

The thing about using past exam papers is, they don't seem to repeat the questions, the new fae is still young. I think that's why Paul Monahan tips certain areas, purely on a process of elimination as a certain area might not have been asked before.

Same with the elective, I think it was ISA 402 that Sean Murray said had not been examined yet.

LOccitane

Mark1916 wrote: »

The CAPEX figure is just depreciation (they made that assumption) and I couldn't figure out the opening increase in WC

I don't have the Case to hand right now but I found the NET Change in the Net Working Capital line between both periods to equate to that in the solution.. I just tried the first one/two years and was happy where they were coming from.... Maybe I missed something?

Also, I can't remember for certain but I think it was this question where a DF of 13% was used which I had no idea about as to where it was calculated.

Does anybody else find that the AAE Past Paper marking schemes are a bit 'vague' in terms of a lot of references to 'appropriate number of risks/issues or decent number of risks/issues identified' but this is rarely quantified. I've left the review of Past Papers (Final) until last so maybe this is just me catching on...

LOccitane

womandriver

Could somebody please post the lecture notes for the CORE audit lecture 7/8 and 9/10?

Only doing elective so don't have access to them, only have access to elective material but think those sessions would be useful.

Thanks.

acastudent

womandriver wrote: »

Could somebody please post the lecture notes for the CORE audit lecture 7/8 and 9/10?

Only doing elective so don't have access to them, only have access to elective material but think those sessions would be useful.

Thanks.

HTH

acastudent

tomboy42 wrote: »

Hey would anyone have the 2013 mock papers and solutions for the core and the sims?

I had it on a usb but now can't find the USB and it's no longer in the student centre as it's been replaced by the 2014 mocks.

It's stressing me out!

Any help would be major appreciated.

HTH

womandriver

acastudent wrote: »

HTH

That's great, thank you so much

heathcliff101

Hi folks,

In the DefCon steps case, has anyone been able to see how 47 new staff are required for the Terra contract? I'm calculating it at 15 staff:

€200,000/€8 = 25,000 existing contacts
25,000*85/15 = 141,667 new contacts under contract
141,667 * 12/60 = 28,333 staff hours required for new contract
40*48 = 1,920 existing yearly staff hours
28,333/1,920 = 14.8 new employees for contract

Thanks in advance!

20 Times 20 Times

Three weeks!!

acastudent

Little Pea wrote: »

Three weeks!!

Scary

TheDoctor

3 weeks + 1 day

tomboy42

acastudent wrote: »

HTH

Thank you, very much appreciated.

jny107

Mark1916 wrote: »

The CAPEX figure is just depreciation (they made that assumption) and I couldn't figure out the opening increase in WC

Ta - actually read on in the solution and saw the capex was depn. The wc still doesn't look obvious to me! Only one fig though and past cash flows didn't even matter for the final NPV!

maninblack

littlemiss123 wrote: »

The management accounting notes are only €9, they are well worth the (small) investment in my opinion, seen as we never got decent notes at CAP 2 or FAE level.

I just bought these here, split it with a mate so less than a fiver each

Just downloaded them and they are very very good notes. Far better than the ones I'd done up myself and a million times better than the ****ty CGS ones. Strongly recommended!

Aidodub87

maninblack wrote: »

I just bought these here, split it with a mate so less than a fiver each

Just downloaded them and they are very very good notes. Far better than the ones I'd done up myself and a million times better than the ****ty CGS ones. Strongly recommended!

Do they have audit notes?

Debs23

maninblack wrote: »

I just bought these here, split it with a mate so less than a fiver each

Just downloaded them and they are very very good notes. Far better than the ones I'd done up myself and a million times better than the ****ty CGS ones. Strongly recommended!

Is that from the chartered education site?

Edelly

Debs23 wrote: »

Is that from the chartered education site?

I really dislike this idea of paying for these notes especially as the guy who runs the chartered education site had the cheek to read this thread where students are panicking about notes. This guy realises this, announces he has notes if you pay for them and is earning a quick buck off our insecurities. I just find it rude- the thread is for students to help one another out not for some guy to make a few euros on. I just find it in bad taste but that's my opinion.

maninblack

Debs23 wrote: »

Is that from the chartered education site?

yeah pal they're chartered education notes

maninblack

Edelly wrote: »

I really dislike this idea of paying for these notes especially as the guy who runs the chartered education site had the cheek to read this thread where students are panicking about notes. This guy realises this, announces he has notes if you pay for them and is earning a quick buck off our insecurities. I just find it rude- the thread is for students to help one another out not for some guy to make a few euros on. I just find it in bad taste but that's my opinion.

least the notes are good, I'd agree with you if he was flogging some heap of crap but I think €9 is fair enough considering I paid CGS €150 for the worst notes ever!

littlemiss123

Edelly wrote: »

I really dislike this idea of paying for these notes especially as the guy who runs the chartered education site had the cheek to read this thread where students are panicking about notes. This guy realises this, announces he has notes if you pay for them and is earning a quick buck off our insecurities. I just find it rude- the thread is for students to help one another out not for some guy to make a few euros on. I just find it in bad taste but that's my opinion.

I actually don't think that at all? He is completely independent from the institute and is entitled to create summarised notes and charge students for them, he is operating a business. You probably didn't have a problem paying for all the 'less stress more success books' for leaving cert? It's only the same idea! The website and notes were available all year round (and was there last year for the CAP 2s also), so he is not just targeting students at the 9th hour, he was merely making us aware that the notes were there should we want them.

I also think I am just being defensive because the notes are actually really really good and will probably save my bacon in management accounting so I actually owe the guy one for comes on boards and mentioning the notes if anything

LOccitane

Folks, what approach are people taking in terms of Exec Summaries? Previously I understood that they should only be included where the type of document required is a Report format.

However, on my Mock CORE Comp Paper I was heavily criticised for not including an Exec Summary - despite the format being a Memo?

It doesn't seem right to include one for a Memo as such?

LOccitane

PhilipLuke

littlemiss123 wrote: »

I actually don't think that at all? He is completely independent from the institute and is entitled to create summarised notes and charge students for them, he is operating a business. You probably didn't have a problem paying for all the 'less stress more success books' for leaving cert? It's only the same idea! The website and notes were available all year round (and was there last year for the CAP 2s also), so he is not just targeting students at the 9th hour, he was merely making us aware that the notes were there should we want them.

I also think I am just being defensive because the notes are actually really really good and will probably save my bacon in management accounting so I actually owe the guy one for comes on boards and mentioning the notes if anything

I was just talking to Paul Monohan and he said to buy the consolidation notes as he reckons that it could come up this year, and if not this year sure its bound to come up next year, and if not sure definitely the year after and if not that year he is gonna stick the examiner a headbutt!!

He just wanted to mention it like incase he forgot in any of the case days he wasnt sure whether he had mentioned it before!

PhilipLuke

LOccitane wrote: »

Folks, what approach are people taking in terms of Exec Summaries? Previously I understood that they should only be included where the type of document required is a Report format.

However, on my Mock CORE Comp Paper I was heavily criticised for not including an Exec Summary - despite the format being a Memo?

It doesn't seem right to include one for a Memo as such?

LOccitane

Memo and Report, not for briefing paper

eitodsdraob

Hi All

Just wondering which is the FAE and which is the CAP2 audit book?! They are both External Auditing and Assurance but one is by Martin Nolan and the other is by Martin Nolan and Christine Nangle. I know they are pretty much the same anyways...

littlemiss123

eitodsdraob wrote: »

Hi All

Just wondering which is the FAE and which is the CAP2 audit book?! They are both External Auditing and Assurance but one is by Martin Nolan and the other is by Martin Nolan and Christine Nangle. I know they are pretty much the same anyways...

Martin Nolan and Christine Nangle is the new one we got for FAE.

womandriver

eitodsdraob wrote: »

Hi All

Just wondering which is the FAE and which is the CAP2 audit book?! They are both External Auditing and Assurance but one is by Martin Nolan and the other is by Martin Nolan and Christine Nangle. I know they are pretty much the same anyways...

Sean Murray refers to the Nolan one in his lectures. It seems the Nolan book was updated since last year and now Sean keeps referencing the new book only which is very annoying as I have the old one. Am repeating the elective and did ask the institute if I needed to get updated books and they said no.

womandriver

littlemiss123 wrote: »

Martin Nolan and Christine Nangle is the new one we got for FAE.

Apologies, he never mentions her only Nolan so had no idea it wasn't just Nolan, as I don't have it

NBA1998

At the CGS for AAE Dave said to put the 'Procedures for quality audit' on file. can someone please put these up as I cant find them.

Accountant81

littlemiss123 wrote: »

I actually don't think that at all? He is completely independent from the institute and is entitled to create summarised notes and charge students for them, he is operating a business. You probably didn't have a problem paying for all the 'less stress more success books' for leaving cert? It's only the same idea! The website and notes were available all year round (and was there last year for the CAP 2s also), so he is not just targeting students at the 9th hour, he was merely making us aware that the notes were there should we want them.

I also think I am just being defensive because the notes are actually really really good and will probably save my bacon in management accounting so I actually owe the guy one for comes on boards and mentioning the notes if anything

Could not agree more. The notes are awesome and the man is running a business.

littlemiss123

NBA1998 wrote: »

At the CGS for AAE Dave said to put the 'Procedures for quality audit' on file. can someone please put these up as I cant find them.

Here you go.

Debs23

Accountant81 wrote: »

Could not agree more. The notes are awesome and the man is running a business.

Did you buy any of his other notes? If so are they any good?

Accountant81

Debs23 wrote: »

Did you buy any of his other notes? If so are they any good?

Yeah I bought the management accounting ones, they are great. Some change management in there and finance and a little bit of strategy too. Well worth 9euro I think.

faedub24

I will go halters with someone in Management Acc notes and Audit - let me know?

Accountant81

Debs23 wrote: »

Did you buy any of his other notes? If so are they any good?

Sorry Debs, just realised I misread your post. No I only bought the mgt ones I didn't buy any others. I would have bought audit ones if they were available but I didn't see any.

Philip1988

What cases have people found useful?

I won't have time to get through them all. Is there any point doing the exam papers since these area are unlikely to be asked again

FAEStudent2014

Accountant81 wrote: »

Could not agree more. The notes are awesome and the man is running a business.

Accountant81: How many pages of notes is there for the mgmt accounting notes that u brought?
I am afraid to buy these incase there is loads to read etc. thanks for ur help

Accountant81

Philip1988 wrote: »

What cases have people found useful?

I won't have time to get through them all. Is there any point doing the exam papers since these area are unlikely to be asked again

I did sham rock this am and thought it was a good one for FR. IAS 17,18&19 in it.

Accountant81

FAEStudent2014 wrote: »

Accountant81: How many pages of notes is there for the mgmt accounting notes that u brought?
I am afraid to buy these incase there is loads to read etc. thanks for ur help

There's about 30 pages in total. With each topic bar one being covered off in one page of summarised notes. I honestly would recommend buying them if you are in any way rusty on your mgt accing.

FAEStudent2014

Accountant81 wrote: »

There's about 30 pages in total. With each topic bar one being covered off in one page of summarised notes. I honestly would recommend buying them if you are in any way rusty on your mgt accing.

Thanks for ur advice. Mgmt accounting is not my strong point so any bit of extra help would be good. Have people covered most cases? I haven't gone near FMJ as it just scared me so read the solution

Accountant81

Did anyone buy the chartered education IFRS summaries? They are a bit more at €35. Not sure I want to buy them if they are as good as Derry Cotter's. Would it just be doubling up do you think?

Reddzer2002

What are people preparing for Core tax? I have last years mind maps with a few notes, and have done up notes on retirement reliefs. I had a look through the books and have it marked but not sure if I know things in enough detail at all!

Tax was not my strongest subject in either Cap 1 or Cap 2 and I am beginning to panic about it!

20 Times 20 Times

Already sorted :-)

Accountant81

Little Pea wrote: »

Id be happy to swap someone 11 pages of audit notes that I typed up for the core for these MGMT accounting notes.

Done!

littlemiss123

Accountant81 wrote: »

Did anyone buy the chartered education IFRS summaries? They are a bit more at €35. Not sure I want to buy them if they are as good as Derry Cotter's. Would it just be doubling up do you think?

I have these also! They are very good, clear and consise! Better than Derry's for the theory, but worth keeping Derry's notes on hand as they have some handy practical examples!

Accountant81

littlemiss123 wrote: »

I have these also! They are very good, clear and consise! Better than Derry's for the theory, but worth keeping Derry's notes on hand as they have some handy practical examples!

Great stuff, thanks for that. I might buy them so!

20 Times 20 Times

Guys ,

I have been through the MGMT ACC notes and honestly stop panicking - its all information that I believe you have in some shape or another.

No need to buy.

maninblack

Little Pea wrote: »

Guys ,

I have been through the MGMT ACC notes and honestly stop panicking - its all information that I believe you have in some shape or another.

No need to buy.

Obviously there's nothing new in there, it's just nice the way its

1 topic = 1 page

That's what you need for open book exam purposes. 9 quid ain't too bad, anything more wouldn't be worth it IMO

littlemiss123

maninblack wrote: »

Obviously there's nothing new in there, it's just nice the way its

1 topic = 1 page

That's what you need for open book exam purposes. 9 quid ain't too bad, anything more wouldn't be worth it IMO

I agree! I have a 800-odd page management book and a few sets of slides! All the same information is in there but I'm quite happy to pay €9 for someone to summarise and clearly present that for me :p

littlemiss123

Going back to what I previously said on the thread, we need to have faith in our own notes and study system, no scare-mongering!! If was a personal decision to purchase the notes, I felt I needed them and I find them good. If you feel you don't need them that's fine too, you don't, don't do it just because everyone else is!

TooLate

littlemiss123 wrote: »

I agree! I have a 800-odd page management book and a few sets of slides! All the same information is in there but I'm quite happy to pay €9 for someone to summarise and clearly present that for me :p

Have you contact details?

littlemiss123

TooLate wrote: »

Have you contact details?

Contact details for what?