FAE September 2014

vnervous

BL ...what a killer !! I'd be sick ! BL is a load of ****e....

maninblack

Very worried now that the board are of the opinion that last year was too easy and they'll hammer us like they did in the AAFRP

Mark1916

m1ck007 wrote: »

I wish i sat the 2013 paper.

So do I.....oh wait I did! Failed on PM unfortunately!! Got 3 greens 2 yellows and a red!

m1ck007

maninblack wrote: »

Very worried now that the board are of the opinion that last year was too easy and they'll hammer us like they did in the AAFRP

Hopefully they take pity on us

maninblack

m1ck007 wrote: »

Hopefully they take pity on us

http://www.wikihow.com/Pray-to-God-for-a-Miracle

womandriver

maninblack wrote: »

Very worried now that the board are of the opinion that last year was too easy and they'll hammer us like they did in the AAFRP

This mentality is not logical. Did the pass rate sky rocket in 2013?

No, it didn't.

If they thought the paper was too "easy" they clearly adjusted the marking scheme accordingly and the pass rate remained in line with previous sittings.

The marking process has already been explained, they mark x amount of scripts. They assess from that how easy/difficult people found the paper and they adjust the marking scheme in line with that.

It's obvious if it's too easy they'll mark harder, if it's too difficult they'll mark easier.

If 2013 was sooo much easier than previous exams, why did the pass rate stay the same?

littlemiss123

I just feel sick at this stage. I know the odds are in your favour (approx 70% core pass rate) but still, the decision as to who passes and who fails seems to be purely random, the person who passes hasn't necessarily worked harder than the person who doesn't.

myshirt

Littlemiss, that's unfortunately it.

Pass rate for repeaters even worse.... why I don't know.

kenner24

Kind of seriously considering a career move but have no idea what i want to do! I just know i dont want to do this anymore! Anyone else really thinking about this too? Iv been spending more time job searching than actually studying this passed week!

PhilipLuke

Philiminator wrote: »

I did and I got 3 greens and went down in BL......so yeah. What a waste of greens! Loads of people passed on 6 yellows

Do you mind me asking what failed u on BL

Philiminator

PhilipLuke wrote: »

Do you mind me asking what failed u on BL

Well I didn't plan properly and I just ploughed into it. I remember merging some of the BL indicators in one of the cases. There was a strategy thing and a finance related area which I merged and I overly concentrated on the finance aspect resulting in a green and I didn't talk enough about the Strategy aspect. The ethics one, I did about 3 lines on because I didn't think it was an indicator and the HR one, I probably didn't do enough for. My priority last year was PM which I went after and got green in, but for one of the cases I did like a cash flow or something that took me forever, it was relevant but not necessary when I looked at the solution. After that, I took the indicators as they came. Now in fairness, I didn't do a lot for the audit indicators and got yellows. I reckon the best way forward would be to go after the PM and BL indicators first as the results of the PM would affect the potential finance and tax indicators down the line. And then just make points on the rest if you are running out of time.

Dellboy2007

I opened the MA and Finance case book for the first time today.

I closed it 17 seconds later.

vnervous

I'm getting ridiculously restless at this stage...I'd do the bloody thing tomorrow if u could. Don't know what to he doing with myself at this stage

littlemiss123

vnervous wrote: »

I'm getting ridiculously restless at this stage...I'd do the bloody thing tomorrow if u could. Don't know what to he doing with myself at this stage

Just given the first two hours watching netflix! You'd swear I didn't have a care in the world!

vnervous

I'm watching the clock counting down the hours until the tipping point such an unreal show :)i am going to miss day time tv when we have to go back to work

littlemiss123

I haven't done any of the steps or mock cases, do you think that is wise? Just from reading what everyone is saying about them being impossibly hard I decided not to waste my time on them.

m1ck007

littlemiss123 wrote: »

I haven't done any of the steps or mock cases, do you think that is wise? Just from reading what everyone is saying about them being impossibly hard I decided not to waste my time on them.

All they do is knock ur confidence

autumnbelle

I haven't gotten most of the cases done roll on next Thursday pass or fail at least it's a few months away from study. Getting used to being off it will be hard to go back to work!

littlemiss123

m1ck007 wrote: »

All they do is knock ur confidence

I was thinking as much, that's why I've decided to avoid them! Nearly have all the FAE integrated case pack done, and I have all the past exam papers done. I think that'll be enough!

autumnbelle wrote: »

I haven't gotten most of the cases done roll on next Thursday pass or fail at least it's a few months away from study. Getting used to being off it will be hard to go back to work!

I know, really depressed at the thought of going back!

autumnbelle

littlemiss123 wrote: »

I was thinking as much, that's why I've decided to avoid them! Nearly have all the FAE integrated case pack done, and I have all the past exam papers done. I think that'll be enough!



I know, really depressed at the thought of going back!

Are you off for anytime after the exams?

littlemiss123

autumnbelle wrote: »

Are you off for anytime after the exams?

I still have holiday leave to take, the plan was to go away immediately after but will have to delay it until later in september I'd say! Definitely in need of a post-FAE holiday!!!! I'm off the friday at least but will go back on the Monday.

GR3YFOXXX

vnervous wrote: »

I'm watching the clock counting down the hours until the tipping point such an unreal show :)i am going to miss day time tv when we have to go back to work

Absolutely loving tipping point. Belter!

Reddzer2002

GR3YFOXXX wrote: »

Absolutely loving tipping point. Belter!

The chase is my show! I feel like I know the chasers personally by now.

jaybeeveedub

m1ck007 wrote: »

All they do is knock ur confidence

I think if I had done them back in April, they would have spurred me on...

to do the hardest possible questions first, then to review exam questions I think is a good plan.... but only months ago....

I just read them, tried to spot the indicators and jot down possible solutions...

Then went to the solution..... :eek:

autumnbelle

What time are all these shows on at?(the chase and tipping point)

maninblack

As someone who's done 90+ cases now, albeit a lot of them were merely skipping straight to the solution, I still feel so unprepared. Got up early this morning and cracked into the 2013 Comp under exam conditions. Had to throw the towel in after 3 hours

Made such an unholy mess of the tax and HR I just gave up. Crazy at it sounds, I feel less prepared now than I did 2/3 weeks ago. Feel like I'm forgetting basic stuff that was second nature before

littlemiss123

maninblack wrote: »

As someone who's done 90+ cases now, albeit a lot of them were merely skipping straight to the solution, I still feel so unprepared. Got up early this morning and cracked into the 2013 Comp under exam conditions. Had to throw the towel in after 3 hours

Made such an unholy mess of the tax and HR I just gave up. Crazy at it sounds, I feel less prepared now than I did 2/3 weeks ago. Feel like I'm forgetting basic stuff that was second nature before

Holy crap, I've only done about 25 cases :eek::eek:

I know the feeling though, sick of it at this stage.

GR3YFOXXX

Reddzer2002 wrote: »

The chase is my show! I feel like I know the chasers personally by now.

Both classics. The chase is class because it has a good question to nonsense ratio. Always a plus in a game show. Think the chase is my fave too.

PhilipLuke

The fear I have is that one indicator that I may struggle really badly with failing me having done enough on everything else to pass!!

laser08

maninblack wrote: »

As someone who's done 90+ cases now, albeit a lot of them were merely skipping straight to the solution, I still feel so unprepared. Got up early this morning and cracked into the 2013 Comp under exam conditions. Had to throw the towel in after 3 hours

Made such an unholy mess of the tax and HR I just gave up. Crazy at it sounds, I feel less prepared now than I did 2/3 weeks ago. Feel like I'm forgetting basic stuff that was second nature before

You're not alone. I feel exactly the same. Felt so much more confident and better prepared a few weeks ago

PhilipLuke

laser08 wrote: »

You're not alone. I feel exactly the same. Felt so much more confident and better prepared a few weeks ago

I am the same, I wish we sat them two weeks ago

LOccitane

Just to show how we can never be prepared for cases even if we cover everything technically prescribed:

I have kept a log of critical points when doing all of the cases (mainly technical learning points) for both CORE and AAE. It's the last thing I'm revising now and it runs to 80 written A4 pages....

It's really going to be about thinking on our feet, especially for BL.

20 Times 20 Times

LOccitane wrote: »

Just to show how we can never be prepared for cases even if we cover everything technically prescribed:

I have kept a log of critical points when doing all of the cases (mainly technical learning points) for both CORE and AAE. It's the last thing I'm revising now and it runs to 80 written A4 pages....

It's really going to be about thinking on our feet, especially for BL.

I have been saying to everyone this summer, indicators will be think on your feet or lose your seat!

maninblack

Yeah I'd agree with that. Specifically for BL, 9 times out of 10, the answer is in the case.

That's why the reading and planning time is ultimately what will cause a lot of people to fail. Miss critical points in your planning stage and it's game over.

My idea for planning has always been
Read: 30 min
Detailed Read + Plan: Next 60 min

Having said that, it's very important not to panic. When I did 2013 this morning, it seemed veryyyy long, took me a good 40 min just to do the initial read. And it was close to 2 hours before I'd re-read it and finished my plan and was ready to start. 2 hours is really pushing it to the limit IMO but it takes as long as it takes. DONT RUSH THE PLANNING!

Aidodub87

maninblack wrote: »

Yeah I'd agree with that. Specifically for BL, 9 times out of 10, the answer is in the case.

That's why the reading and planning time is ultimately what will cause a lot of people to fail. Miss critical points in your planning stage and it's game over.

My idea for planning has always been
Read: 30 min
Detailed Read + Plan: Next 60 min

Having said that, it's very important not to panic. When I did 2013 this morning, it seemed veryyyy long, took me a good 40 min just to do the initial read. And it was close to 2 hours before I'd re-read it and finished my plan and was ready to start. 2 hours is really pushing it to the limit IMO but it takes as long as it takes. DONT RUSH THE PLANNING!

Would def agree!!!

myshirt

Please god there will be no one crying this year and leaving after an hour....

littlemiss123

myshirt wrote: »

Please god there will be no one crying this year and leaving after an hour....

Did that happen?!

Maninblack, completely agree with you on the planning! It's definitely the most important part! I'll be doing roughly the same as you 30/40 mins reading, 1hr approx planning !

Debs23

What do people put in their plan? I re-read the case and allocate relevant points to each indicator and move on.

Should i be stating what i am going to write in my actual answer?

mark_m360

I would advise anyone to spend time reading through last year's board report, and previous years if you have the time. They are worth the read to ensure you try avoid the common pitfalls which they will be looking at again this year, and helps reinforce your plan and strategy for approaching indicators.

maninblack

Debs23 wrote: »

What do people put in their plan? I re-read the case and allocate relevant points to each indicator and move on.

Should i be stating what i am going to write in my actual answer?

OK so this is what way I'm going about it...

On my initial 30 minute read, I have 2 main objectives:
1) Identify the indicators
2) Establish the key themes (What does this company do, who are the key players, what's the overriding theme here be it expansion, incorporation, new product launch, whatever)

Then, I crack open the answer book, pen in hand, and begin re-reading it forensically, making notes as I go. Pay particular attention to things like figures, dates etc. Every single piece of information provided in the main body is relevant. Even seemingly insignificant things must warrant at least a second look... "Why have they told me that this person is conservative?, why have they told me that there's significant customer demand?, why have they told me that they spent X on R&D in 2003? etc. etc." I'm asking myself these questions the whole way down on the second read and categorising everything into the relevant indicator. As I said before, for many of the indicators, the answer is in the damn case so make sure nothing is overlooked; it's like throwing marks away!

I view it like every statement in the main body is a piece of the jigsaw. The 1 hour of planning is just seeing where everything fits before putting it all together.

FlyingSolo13

Re Tax : can anyone tell me whether or not you must transfer a property at the time of the rest of your business assets in order to qualify for incorporation relief?

Torres999

Just tried Argon Visio there and my head nearly exploded, gonna put that case away and never look at it again

Dellboy2007

I find that sometimes when reading the case if you actually just take a step back from it and try to think of it as a real life scenario rather than what you think is the right answer/what the corrector wants to see, you will more often than not form a logical and reasonable solution.

Apart from the steps cases, them things are for people who have no social life and watch the antique roadshow to resolve.

littlemiss123

FlyingSolo13 wrote: »

Re Tax : can anyone tell me whether or not you must transfer a property at the time of the rest of your business assets in order to qualify for incorporation relief?

Yes, all the business assets must be transferred excluding cash.

PhilipLuke

FlyingSolo13 wrote: »

Re Tax : can anyone tell me whether or not you must transfer a property at the time of the rest of your business assets in order to qualify for incorporation relief?

Yes but you could sell it before transferring the business if it was no longer needed and still avail of relief on incorporation

LOccitane

PhilipLuke wrote: »

Yes but you could sell it before transferring the business if it was no longer needed and still avail of relief on incorporation

Exactly or not transfer at the time of incorporation if the chargeable gain arising on the other chargeable assets was limited; and say for example the Stamp Duty payable on the Property transferred would exceed the chargeable gain arising on the transfer of the other assets..

By not transferring it they could then avoid a double taxation charge if future capital appreciation at the time of ultimate disposal is expected.

Mark1916

Anyone looking to remain confident, stay away from looking at the mock papers! Christ!

myshirt

What do we do now for the remaining time?

I'm not joking, it's like someone hit reset on my brain.

vnervous

Lads I'm loosing the will to live right now ....serious claw hand going on right now !

Torres999

Hit a serious wall today, just went to bed and will try again tomorrow, thought of doing another case makes me start shaking