FAE September 2014

RichFTW

Nothin but the Truth wrote: »

I dnt think 10 cases would be enough as u need to see many different companies, industries and scenarios to fully understand on how to best approach the case in the exams. I dnt think timing will be much of a problem if u plan well. The exam standard answers are short and sweet, max 2 pages and thats an absolute max. Timing only becomes a problem when u start to panic and delve into notes and forget to use the info in the case to answer indicators.

How on earth is the industry or scenario going to change your answer approach? It will change your perspective, not how you lay the indicators out and how you plan your time.

I've done 3 cases under exam time already and I've a fair idea of how I will plan the answer. 10 will be enough for me anyway.

myshirt

Just when you think you've got a hang of this...

maninblack

It's actually the most demoralising experience I've ever had studying for an exam.

I spent June/July sorting folders, running through the theory and now I'm just drilling through as many cases as fast as possible.

One case goes OK, next ones a bit shaky, then the next ones an unmitigated disaster and you're left thinking "if this was the case that came up, I'd be walking out of the RDS within an hour!"

Ups and downs

womandriver

All this bickering bout who's way of studying is best is pointless, it's def less useful than either doing cases or doing technical material.

We'll just come back in November and see who passed or failed and then we'll know

20 Times 20 Times

womandriver wrote: »

All this bickering bout who's way of studying is best is pointless, it's def less useful than either doing cases or doing technical material.

We'll just come back in November and see who passed or failed and then we'll know

Hopefully we all pass !!! And then next years lot will never know :-P

Mark1916

My folders are as follows:

1 summary folder
Tax folder
Audit folder
Financial folder (Derry cotters notes)

That's it, think the summary notes for BL I have are good along with finance etc, but the majority is applying it to the case study, currently I'm doing cases 9am to 1pm then technical material from 2pm to 5pm and then run through another case from 6-7.30 just noting key points. That's a very good day a very bad day is well very bad!

Accountant81

myshirt wrote: »

Does anyone have the marked up student solutions for 2013? I only have the previous ones.

(the ones where they transcribe student solutions and put in comments on why it failed/passed)

Would you mind posting this up please?

kenner24

Im doing cases every day now and tabbing useful solutions wen i go through them. Im tabbing everything useful as i go to then put them all into the folders for each subject when i get closer to the exams. I find for things like tax and finance its very similar things asked all the time re selling a business and valuing it etc.

My technical knowledge isnt great but tbh they can ask you 17 odd indicators from about 1,000 topics! So i stopped doing just technical stuff.

iv been doing cases right through without looking at solutions, just bullet points and rough calculations really no structure. But i find myself literally falling asleep during case studies! Anyway when i look through solutions im way off.... is anyone else finding they are a million miles from the suggested solution?

also in terms of exam technique, ie doing a full structured answer and in the time limit...is anyone able to do this yet? This is my last week of knowledge accumulation through rough attempts at cases before i start the exam conditions next week (iv been saving past exams and the terrible steps cases till next week)...is anyone else leaving exam technique till that late?

littlemiss123

kenner24 wrote: »

Im doing cases every day now and tabbing useful solutions wen i go through them. Im tabbing everything useful as i go to then put them all into the folders for each subject when i get closer to the exams. I find for things like tax and finance its very similar things asked all the time re selling a business and valuing it etc.

My technical knowledge isnt great but tbh they can ask you 17 odd indicators from about 1,000 topics! So i stopped doing just technical stuff.

iv been doing cases right through without looking at solutions, just bullet points and rough calculations really no structure. But i find myself literally falling asleep during case studies! Anyway when i look through solutions im way off.... is anyone else finding they are a million miles from the suggested solution?

also in terms of exam technique, ie doing a full structured answer and in the time limit...is anyone able to do this yet? This is my last week of knowledge accumulation through rough attempts at cases before i start the exam conditions next week (iv been saving past exams and the terrible steps cases till next week)...is anyone else leaving exam technique till that late?

From talking to those who passed FAE last year, they all said their answers were no where near the suggested solution, but still passed so I wouldn't worry about that! As long as your answer makes business sense and is relevant you will be ok!

With regards exam conditions, I won't be doing any under exam conditions, never have for any previous exams. I work 100 times faster in the actual exam than any 'replicated' conditions so I personally see it pointless!! And yes I'm aware everyone is going to tell me now that it's stupid and I'm gonna get my timing all wrong etc etc.

kenner24

littlemiss123 wrote: »

From talking to those who passed FAE last year, they all said their answers were no where near the suggested solution, but still passed so I wouldn't worry about that! As long as your answer makes business sense and is relevant you will be ok!

With regards exam conditions, I won't be doing any under exam conditions, never have for any previous exams. I work 100 times faster in the actual exam than any 'replicated' conditions so I personally see it pointless!! And yes I'm aware everyone is going to tell me now that it's stupid and I'm gonna get my timing all wrong etc etc.

tbh i agree with you i never did exam conditions before this year. I did for aafrp and sure still got RC and struggled for time! Lol im just in panic mode at this stage dont wanna be scared!

GR3YFOXXX

What are the Derry Cotter notes everyone keeps going on about?

I've been doing timed cases since early July and I'm still struggling. I've only done a couple of the longer cases though.

myshirt

GR3YFOXXX wrote: »

What are the Derry Cotter notes everyone keeps going on about?

I've been doing timed cases since early July and I'm still struggling. I've only done a couple of the longer cases though.

What's your approach with timing?

ASOT2012

littlemiss123 wrote: »

From talking to those who passed FAE last year, they all said their answers were no where near the suggested solution, but still passed so I wouldn't worry about that! As long as your answer makes business sense and is relevant you will be ok!

With regards exam conditions, I won't be doing any under exam conditions, never have for any previous exams. I work 100 times faster in the actual exam than any 'replicated' conditions so I personally see it pointless!! And yes I'm aware everyone is going to tell me now that it's stupid and I'm gonna get my timing all wrong etc etc.

I was actually going to say i can see you being placed.

What is it 5k or something..what are you going to do with it littlemiss??

littlemiss123

ASOT2012 wrote: »

I was actually going to say i can see you being placed.

What is it 5k or something..what are you going to do with it littlemiss??

Bring all my boards.ie friends on a post-FAE piss-up :D:D

ASOT2012

littlemiss123 wrote: »

Bring all my boards.ie friends on a post-FAE piss-up :D:D

Nice one...hope I didn't jinx it now..you should be alright tho

Piss up sounds good...we bring myshirt just for the comedy!

GR3YFOXXX

myshirt wrote: »

What's your approach with timing?

According to the suggested time. Aim to have the case done with all indicators.

GR3YFOXXX

myshirt wrote: »

What's your approach with timing?

Oj lol. I aim for half an hour prep per shorter question. Still haven't got the timing down for larger q's.

Abbey14

Hello,

Can anyone tell me why in some solutions Stamp Duty can be upto 6% - I can only see 1% & 2% in the book.

Thanks.

Dellboy2007

Abbey14 wrote: »

Hello,

Can anyone tell me why in some solutions Stamp Duty can be upto 6% - I can only see 1% & 2% in the book.

Thanks.

I'd say they are old solutions not updated with new rates

Abbey14

Perfect Thanks

TheDoctor

Old stamp duty rates

Stamp duty is 2% on assets, 1% on shares

Accountant81

Does Paul M have some sort of manufacturing background? Mayflower reminds me a lot of FMJ and is just as horrible. What a rotten mock to get last year.

heathcliff101

Does anyone that's done the Real Jobs 2011 exam Sims case know where the €700,000/€800,000 figures of floating borrowings are coming from in the finance solution?

iwishihadaname

Accountant81 wrote: »

Does Paul M have some sort of manufacturing background? Mayflower reminds me a lot of FMJ and is just as horrible. What a rotten mock to get last year.

Couldn't agree more, been looking at Mayflower all day. Can't see PM being that tricky on the day (hopefully)

Accountant81

iwishihadaname wrote: »

Couldn't agree more, been looking at Mayflower all day. Can't see PM being that tricky on the day (hopefully)

I hope not! But it's even the wording of the cases. Quite technical in detail. Can't say I've found the real exams to get as detailed.

myshirt

How do people feel about this idea of going 1:1 on planning and execution?

mark_m360

myshirt wrote: »

How do people feel about this idea of going 1:1 on planning and execution?

I have been playing with 30% planning and 70% execution. Seems to be working out well enough for me at the moment on up to 120min case studies. The real test will be over the next week or so when I sit down and do a couple of the full papers under exam style.

Debs23

Which do people think would be more beneficial?
- doing mocks and all other study cases
- or doing mocks and other past papers?

I wont have time to do all past papers and other cases

Dellboy2007

Debs23 wrote: »

Which do people think would be more beneficial?
- doing mocks and all other study cases
- or doing mocks and other past papers?

I wont have time to do all past papers and other cases

How about you look at the indicator index and pick cases that cover off as much of the comp statement in the given time you have left.

Nothin but the Truth

Debs23 wrote: »

Which do people think would be more beneficial?
- doing mocks and all other study cases
- or doing mocks and other past papers?

I wont have time to do all past papers and other cases

No point in doin mock papers as there way too hard, they will just eat away at ur confidence. I wud say just look over this years and last years papers just for the topics asked and how Paul approached askin them as examiner could take something from last year or use an issue Paul has dealt with this year as he usually gets 1 or 2 areas right. The past papers are a must except for the 2010 paper which was a different examiner and the steps cases must be looked at as Paul has put up a number of new topics, which are made up of topical areas and areas that havent been asked before. Answers for those are bit much in places though. Good luck

Dellboy2007

Nothin but the Truth wrote: »

No point in doin mock papers as there way too hard, they will just eat away at ur confidence. I wud say just look over this years and last years papers just for the topics asked and how Paul approached askin them as examiner could take something from last year or use an issue Paul has dealt with this year as he usually gets 1 or 2 areas right. The past papers are a must except for the 2010 paper which was a different examiner and the steps cases must be looked at as Paul has put up a number of new topics, which are made up of topical areas and areas that havent been asked before. Answers for those are bit much in places though. Good luck

Hi Paul,

Any other tips? Is consolidation definitely coming up ya?

Nothin but the Truth

Dellboy2007 wrote: »

Hi Paul,

Any other tips? Is consolidation definitely coming up ya?

I'm goin to make a bold prediction and say its not coming up this year, more scope for it to come up next year with 3-4 FR indicators allowed to be ask in the exam (not including the AAFRP). I think chartered do not not want to deal with the car crash that wud be students answerin a consol question. They know where all shockin at the normal FR standards so why stick up a consol indicator which can fail a lot of us. I'd say they know how much Mr.Monaghan is pluggin for it to come up as well and are havin a good laugh when they dnt put it up.

ASOT2012

Nothin but the Truth wrote: »

I'm goin to make a bold prediction and say its not coming up this year, more scope for it to come up next year with 3-4 FR indicators allowed to be ask in the exam (not including the AAFRP). I think chartered do not not want to deal with the car crash that wud be students answerin a consol question. They know where all shockin at the normal FR standards so why stick up a consol indicator which can fail a lot of us. I'd say they know how much Mr.Monaghan is pluggin for it to come up as well and are havin a good laugh when they dnt put it up.

Cheers Paul

myshirt

Consolidation is going to be there. I think everything points to it. But look, none of us have seen the paper, and it's very hard to game these b@stards. You have to cover everything. Even at a high level.

But here's a tip... list the top 5 standards you wouldn't like to see. And then study them.

This is high stakes poker. €50k salary for newly qualified. There is no time for messing.

IFRS 9
IAS 11
IAS 19 & IFRS 2
IFRS 1
IAS 37 in the Context of IAS 10

They'd be mine.

jny107

May be a long shot but...does anyone have good core tax NI summary notes?

acastudent

Tried to answer a full indicator (2pages only writing /no calculation) it took me 20 min. I don't think I will have so much time in the exam .
Let's say exam 4.5 hours . Reading 30 min ,60min planing and 180 writing . So if there are 9 indicators then 20min each . No time to think or look through the notes.

Philip1988

What is the point doing past papers if anything in the past wont be asked again? Would it not be better doing mocks. At least they have things not yet asked

Nothin but the Truth

Philip1988 wrote: »

What is the point doing past papers if anything in the past wont be asked again? Would it not be better doing mocks. At least they have things not yet asked

Yeah go do that and get back to us next week and tell us how it went for yah.

PhilipLuke

Nothin but the Truth wrote: »

Yeah go do that and get back to us next week and tell us how it went for yah.

Like!!

autumnbelle

Each day gets more unproductive I'd say steps cases and last years mocks are vital to do

TheDoctor

Tomorrow is Full Metal Jacket day!

Accountant81

TheDoctor wrote: »

Tomorrow is Full Metal Jacket day!

Jaysus, good luck!

acastudent

TheDoctor wrote: »

Tomorrow is Full Metal Jacket day!

still not brave enough . Might do next week

IR1SH RANG3R

Tomorrow/Today is my birthday This is not how a birthday should be spent :P

womandriver

IR1SH RANG3R wrote: »

Tomorrow/Today is my birthday This is not how a birthday should be spent :P

Happy birthday ðŸ˜႒

mccabe1987

GR3YFOXXX wrote: »

What are the Derry Cotter notes everyone keeps going on about?

I've been doing timed cases since early July and I'm still struggling. I've only done a couple of the longer cases though.

Can someone please clarify what notes are the Derry Cotter ones?

Also does anyone have the Tax Mind Maps from the CGS?

Thanks

myshirt

Derry Cotter notes are the ones from induction. Print them off, and bind them into one booklet. They will get you 90% of the way there once you've went through them.

CGS may have some tax booklets left over that they will sell you, contact them after 9.

myshirt

Guys - one critical thing we haven't discussed comprehensively enough here is the FT.

The board said to read the FT.
This is the first year they've done so. In past years it has just been a generic 'keep yourself apprised of business news'.

What have been the biggest issues in the FT? I'm thinking this 'magic roundabout' thing they have a bone of contention with... anyone any ideas?

vnervous

Which Derry cotter notes are these? Can't see them on the site ??

Edelly

vnervous wrote: »

Which Derry cotter notes are these? Can't see them on the site ??

These are under the induction notes- sessions 1-6!