FAE September 2014

GR3YFOXXX

Nermal wrote: »

Why?

1 audit and 1 IMP would be harsh. Plus 3 finance and 5 bl...had to be audit

m1ck007

It would be an awful easy audit indicator. Copy out the responsibilities of the director straight from the statement of directors responsibilities u see every day in a directors report.

PhilipLuke

20 Times 20 Times wrote: »

There has to be at least two indicators in the 4 smaller subjects. If people dont know this after sitting the exam , Give up.

I would like that comment a second time but it won't let me!

Nermal

GR3YFOXXX wrote: »

1 audit and 1 IMP would be harsh. Plus 3 finance and 5 bl...had to be audit

I agree... makes sense with all of the 'you can't fail on one indicator' stuff. But interest to know whether that is definitive.

PhilipLuke

Having reviewed the papers I think I picked out all the indicators over the two days, the (GG Valuation being finance) and (Directors responsibilities clearly Audit) and comprehensively disappointed with my level of answer in each and every one as each were written at ninety miles an hour!!

ke14

My imp indicators were awful... Can anyone Tell me if u get a nc and rc is dat enuf to get u thru?? Surely the Institute can fail us on a subject that is even not on d course next year...?? Ethically can dey Do it??

galway321

Straight form the competency statement;
Weighting
1 Audit & Assurance 10% - 15%
2 Business Leadership 20% - 25%
3 Corporate and Individual Tax Planning 10% - 15%
4 Finance 10% - 15%
5 Information Management Principles 10% - 15%
6 Performance Measurement 20% - 25%

So 19 indicators means there has to be at least 2 for each of the RC subjects. Simples!

TheDoctor

ke14 wrote: »

My imp indicators were awful... Can anyone Tell me if u get a nc and rc is dat enuf to get u thru?? Surely the Institute can fail us on a subject that is even not on d course next year...?? Ethically can dey Do it??

I have used the well established Hodgsons Three stage model......

Elvis2012

Everyone should bombard the institute with emails and phonecalls to clarify what the **** were they looking for!

TheDoctor

Drag Monahan out and pelt him with stuff

I always liked him but no time for that now

maninblack

TheDoctor wrote: »

I have used the well established Hodgsons Three stage model......

its not even faking 3 stages, its 6!! that damn hodgson's a fraud

facts
stakeholders
options
for
against
conclusion

House of Wolves

I've got a NC in one finance and one performance measurement indicator for sure, not sure about everything else so feeling pretty low this evening as I've more than likely failed. Damn you Fae!

myshirt

That exam this year will really reward the people who went in there having had c. 4 or 5 full runs at a comp and sims each over study leave.

Case management and thinking on your feet jumped up a notch this year, and technical ability down.

The FR was incredibly accessible in particular. Almost unbelievable given the volume of stuff and variables we would have studied.

m1ck007

In all honesty none of us really know what that sim2 was all about and the fact there is such a variety of responses means that all of the answers will have to be considered...hopefully

TheDoctor

m1ck007 wrote: »

In all honesty none of us really know what that sim2 was all about and the fact there is such a variety of responses means that all of the answers will have to be considered...hopefully

Everyone passes

2014fae

It said tommy was a teenager and there was an age limit to become a director nooo

FAEStudent2014

If I got 2 RC's out of the three finance indicators would that of passed me for finance? I'm really worried about it!

vnervous

What time is tomorrow's exam ?

TheDoctor

vnervous wrote: »

What time is tomorrow's exam ?

1-5.30

TheDoctor

FAEStudent2014 wrote: »

If I got 2 RC's out of the three finance indicators would that of passed me for finance? I'm really worried about it!

I would imagine so

myshirt

My best guess of minimum to pass would be

3 C's PM
3 C's BL
1 RC in Tax, Audit, IMP, Finance
And then 2 C's, 2 RC's out of balance of indicators; or 6 RC's.

2014DCR

I took a total stab in the dark re ethics.. As Tommy is a "teenager" I rambled on about him perhaps needing to take advice in respect of the investment proposal from someone other than us! I can already imagine them laughing as they read it.

Notwithstanding the mistakes I've made, I'm going to fail due to my inability to read or write at a thousand miles an hour. I just can't finish them in time. Took me nearly 3 hours to do Sim 2.

suref

Guys just remember you don't need a green in bl or pm if that's what any of you are worrying about! You can pass on all yellows if you made up the sufficiency in other subjects! If you're really freaking out I'd skim through the adjudication lecture! But I'd focus on that tomorrow - elective time! Regardless if we failed over the last two days, we don't want to fail this thing as well...clear heads!

TheDoctor

Relax

Few pints tonight

Go again tomorrow

TheDoctor

79 days to results day

Nice one

arnie_ni

suref wrote: »

Guys just remember you don't need a green in bl or pm if that's what any of you are worrying about! You can pass on all yellows if you made up the sufficiency in other subjects! If you're really freaking out I'd skim through the adjudication lecture! But I'd focus on that tomorrow - elective time! Regardless if we failed over the last two days, we don't want to fail this thing as well...clear heads!

I thought you had to get green in those two, with yellows in the rest? I reckon I have just scrapped yellow in PM. Really wish I got a c or rc in the assessment, it could cause be to fail now.

maninblack

suref wrote: »

Guys just remember you don't need a green in bl or pm if that's what any of you are worrying about! You can pass on all yellows if you made up the sufficiency in other subjects! If you're really freaking out I'd skim through the adjudication lecture! But I'd focus on that tomorrow - elective time! Regardless if we failed over the last two days, we don't want to fail this thing as well...clear heads!

I thought you need depth in PM/BL, which translates to hitting C's at least a couple times.

Surely you could pass with ALL yellow in PM and BL and the nailing greens across the other 4?

Dellboy2007

People need to stop mixing up colours with C and RC.

A yellow means you reached the minimum standard necessary it DOES NOT MEAN RC.

If there's 5 indicators for PM then the minimum standard to pass would likely be 2 C's.

Stop saying you need yellows/greens in subjects, instead say you need C's or RC's, otherwise you're not making any sense.

Dellboy2007

Likewise, if you got a RC in the aafrp, that does not mean you got a yellow.

The depth test is based on how many times you get C in PM (and BL).

So a RC is technically a red in PM as it doesn't count for the depth test.

arnie_ni

Dellboy2007 wrote: »

People need to stop mixing up colours with C and RC.

A yellow means you reached the minimum standard necessary it DOES NOT MEAN RC.

If there's 5 indicators for PM then the minimum standard to pass would likely be 2 C's.

Stop saying you need yellows/greens in subjects, instead say you need C's or RC's, otherwise you're not making any sense.

Would 4 RCs be equivalent to 2 cs?

Dellboy2007

arnie_ni wrote: »

Would 4 RCs be equivalent to 2 cs?

See my last post

PhilipLuke

Dellboy2007 wrote: »

People need to stop mixing up colours with C and RC.

A yellow means you reached the minimum standard necessary it DOES NOT MEAN RC.

If there's 5 indicators for PM then the minimum standard to pass would likely be 2 C's.

Stop saying you need yellows/greens in subjects, instead say you need C's or RC's, otherwise you're not making any sense.

I see it as irrelevant, I see it as the best 75% pass and thats it

Dellboy2007

PhilipLuke wrote: »

I see it as irrelevant, I see it as the best 75% pass and thats it

Well personally I think it is important that people actually understand how it is marked.

PhilipLuke

Dellboy2007 wrote: »

Well personally I think it is important that people actually understand how it is marked.

Yeah it is, Just at the end of the day I reckon depending on the overall standard the institute end up adjusting those scores

Would you agree?

Mark1916

I'd doubt the board even know what will constitute a pass/fail until they see a sample of the papers!

arnie_ni

Dellboy2007 wrote: »

See my last post

Bugger that, I reckon I've missed out something on every indicator that stops me getting a c. In the core the onerous contract, today I didn't pick up that the stock hadn't been produced yet and added it back in when I reversed the sale, also transfer pricing I ran out of time so reckon I just got enough for rc on all three of them. The management accounts one could be touch and go on c, but rc is more plausible. Reckon I got 4 RCs and one nc in the assessment.

Scania88

As a result of missing the IMP on IP, I think I may have made up my own imp indicator :-/ think it's totally off the wall, when asked on the details required regarding management accounting accounts I said an investment would be required in a BIS and detailed the requirements it needed :-(
They may aswell just scrap my scripts!

Blarney92

Any one else think it was strange they were planning to dispose of the company for 8m in 6 years which would only have been a 3.3x multiples of yr 6 profits.

This seems ridiculously low, especially for an IT company and meant for them to make break even on the 2million they invested they needed they'd need a 65%+ plus stake?

Dellboy2007

Don't know why I logged back in. The post mortem is absolutely pointless now. Fair enough yesterday you need to know where you're falling down so you can hit them indicators in the sims but today it is utterly pointless.

Good luck tomorrow in your electives. Forget about the core, what's done is done and I don't know anyone who is 100% happy with everything. The exam was tougher than last year, let's hope the results aren't tougher!

arnie_ni

Blarney92 wrote: »

Any one else think it was strange they were planning to dispose of the company for 8m in 6 years which would only have been a 3.3x multiples of yr 6 profits.

This seems ridiculously low, especially for an IT company and meant for them to make break even on the 2million they invested they needed they'd need a 65%+ plus stake?

I mentioned in my swot analysis that the could effectively have a bidding war at the end because so many different parties were interested. Also mentioned sensitivity analysis should be carried out changing some figures to see how that would change your valuation.

bikeman1

Guys have a think of this if you are feeling disillusioned with the Core Exam.

There will be a sample of scripts corrected to the original marking scheme. They will then review the results. At this point it becomes obvious that there was a problem with indicators as 99% of people failed (like in the Mock).

They will then adjust the marking scheme and lower the barriers for RC / C / HC etc. to bring people into the net. When they get a level that they are happy with, then they will correct the remainder of the scripts.

If you set a paper, you want to have it so it is not too easy or impossible. However it is only when you get the scripts back in, can you really see how the students faired and if it really was a hard exam. When you set an exam you are the person building the story and it seems easy to you to see everything.

The pass rates for first timers in the past have been:

2010 - 75%
2011 - 74%
2012 - 74%
2013 - 74%

Now us lot are supposed to be able to spot trends, if you can't here, well you may need to reconsider!! The details of what constitutes a RC / C / HC will only be worked out when the first batch of sample papers are corrected. Just hope you are in the top 70%!

arnie_ni

Did anyone get a decile ranking of 2 to 10 in the mocks? Wondering did they give everyone a 1, because I got one with 3 yellows and 3 reds.

Nonamerequired

Two of my friends passed last yr with orange in both BL and PM - I seen the result so u dont need green in both....the institutes marking is so unfair and so screwed up!

arnie_ni wrote: »

I thought you had to get green in those two, with yellows in the rest? I reckon I have just scrapped yellow in PM. Really wish I got a c or rc in the assessment, it could cause be to fail now.

myshirt

They get a student who passed in the last 3 years to sit the papers, and Paul takes it aswell in 70% of the time.

They do go through a whole rigmarole in setting the papers to ensure they are fair and doable, so I don't think there will be much movement... dunno... just my sense of it...

bikeman1

myshirt wrote: »

They get a student who passed in the last 3 years to sit the papers, and Paul takes it aswell in 70% of the time.

They do go through a whole rigmarole in setting the papers to ensure they are fair and doable, so I don't think there will be much movement... dunno... just my sense of it...

You would have to pay me a LOT of money to re-sit the FAE if I had passed already!

myshirt

bikeman1 wrote: »

You would have to pay me a LOT of money to re-sit the FAE if I had passed already!

Me also... they might second guess having passed you... not to mind the horror of doing it again... this thing is tortuous

Mark1916

Good luck with the electives tomorrow folks the end is near!

Dreaming of sunshine

arnie_ni wrote: »

Did anyone get a decile ranking of 2 to 10 in the mocks? Wondering did they give everyone a 1, because I got one with 3 yellows and 3 reds.

I got decile 4 in the mocks think very few got 1 fair play to ya

m1ck007

Dreaming of sunshine wrote: »

I got decile 4 in the mocks think very few got 1 fair play to ya

I got decile 7 and didnt even open the answer booklet for one of the sims and did four indicators in the core however that worked i do not know.

arnie_ni

Dreaming of sunshine wrote: »

I got decile 4 in the mocks think very few got 1 fair play to ya

Still failed lol