FAE September 2014

TheDoctor

50.2% of people sitting this years FAE got a pass - 820/1633
21.7% of people sitting this years FAE got a credit - 355/1633
28% of people sitting this years FAE got a fail - 458/1633


Shocking stats!

Johnny_Fontane

Congrats to everyone who passed. I know its been a slog for some people coming back for a second/third time. Commiserations to those who didnt get them, but genuinely (and I know this may be hard right now), there is alot of reasons to be very hopeful in this market.

As I have said a number of times, we help candidates every year to find roles who have missed their exams. The market is most definitely in your favour no matter what results you have had today.

In relation to a brief salary survey of what you can expect (Dublin based):
If you missed your FAE's and have worked in small to medium sized practice, you can easily pick up a role around the €30k in another practice. If you wanted to move into industry for nine months (before hunkering down say in July for next September), thats very do-able aswell. Salary again around the €30k mark If you missed and you are in the big 4/top 10, again plenty of options in smaller practice, salaries might even get up to €35k. Little bit more difficult to secure an industry role, but it can be done.

If you passed, congrats. You can expect salaries of 40-45k if you are coming from small to medium sized practice (and 50k in some cases). If you are coming from big 4/top 10, the range is probably more €45-50k.

The market is strong for accountants at all levels at the moment, dont hesitate to get in touch if you want more advice.

Shorty11857

Just realised passing will mean I'm going to have to fill in my CA Diary for the first time ever. God those 15 months I spent on secondment not doing anything related to accountancy at all are going to be fun to try and write!

Accountant81

TheDoctor wrote: »

50.2% of people sitting this years FAE got a pass - 820/1633
21.7% of people sitting this years FAE got a credit - 355/1633
28% of people sitting this years FAE got a fail - 458/1633


Shocking stats!

Have you read the board report? They really thought we were crap! A really high amount seem to have failed on IMP which seems so harsh and unfair in my opinion.

lydia123

I am working in industry at the moment, came in as a finalist.
Just a note to say there are so many jobs available for finalists, because we are that little bit cheaper although unfortunate for us - I have been here a year now - long story, went to Oz after CAP2s, also repeated FR a few times - but I have 5 years experience and two weeks ago negotiated pay rise to qualified level - on the basis that when I woke up today, my ability as an accountant would be no different whether the result said pass or fail.
To summarise, if you failed, like myself, everything will be fine... It is just incredibly frustrating to have to wait so long to go through that week again. (And miss out on numerous music festivals etc. in the meantime!)
For those of you who are getting pushed out, don't worry about it, get in somewhere where you don't do loads of overtime and refocus again.
If you failed today it doesn't define you as an accountant whatsoever and future employers know that - if they have a policy about exams it reflects on them, not you! You're just a number to them in that case.
p.s. my manager and the CFO just told me they didn't get their finals the first time either

paperback24

I passed! I PASSED!!! I can't believe it. I'm not the biggest looser on the planet like I felt last year and the year before.

This is the best day of my life.

Thank you for all your support especially yesterday.

Congratulations to all who passed and for those who didn"t don't give up.

If I can do it anyone can

m1ck007

Congrats to all that passed. I failed both. Devestated. Got HC in my Aafrp, got the disposal and revenue indicators and still got a yellow. I hate the institute.

jkiamasnake

those that failed both...is there anyone considering changing over to ACCA?

An Citeog

PG1234 wrote: »

Need some advice....Core exam got docile 7 & sufficiency 0...

One red indicator for auditing. Am wondering is it worth appealing or am I better off spending the €56 in the pub???

It's not an appeal unless you're looking to apply due to extenuating circumstances. It won't be remarked, so you're paying them €56 for somebody to count all the marks you were awarded and ensure that you did actually fail. The fact that it's possible that this can be wrong for even one person is an absolute disgrace.

lydia123

I considered it on the 8th of Nov because that was the deadline for December exams but thought I'd be wishing myself bad luck! I'll look into it on Monday haha! The only reason I would is because at least if you pass a subject you get to bloody well keep it!!! I'd still repeat FAE next year because I'm a tad stubborn.

Accountant81

jkiamasnake wrote: »

those that failed both...is there anyone considering changing over to ACCA?

I had looked into it on the basis that they were moving to 4 sittings a year. But that isn't due to happen until 2016. Therefore you won't be able to sit any of their exams until June now. At this level you will need to sit 5 exams and you can only do 4 in a sitting. I decided if I failed that I would stick with ACA, it hardly seemed worth it. Plus you have to pay €900 for the exa,s you are exempt from.

Shorty11857

jkiamasnake wrote: »

those that failed both...is there anyone considering changing over to ACCA?

I passed but

Honestly if your firm supports it you should consider it, I know a girl who failed FAE twice and then placed in ACCA. It also just seems a lot less stressful, failing one subject means you only have to repeat that one area and not everything all over again

glencairne

Folks I just wanted to leave a wee message to those who didn't get the results they wished for this morning.

Last year I failed core by a red in BL, although I got decile 7 & suf 0 (one of my friends got the same that year but passed as she had no reds) and I passed my tax elective.

I would have bet A LOT of money on failing again this year as I knew I hadn't gave core my best due to limited study leave & holidays as I also got married in May past, but for some miracle I did pass this morning, even with IT problems & my results not online.

I know the sickening gutted feeling you are experiencing today but honestly dont give up. I have been doing all this exams from 2007 and have had many of fails & repeats but if you feel you have it in you to go again then do & dont give up.

It will be worth it in the end! I appealed last year - waste of money but if I hadnt I would have been thinking what if?? One thing I did do which I would recommend is to pay for the commentary on your paper - it did help me last year when I was studying & I also shared some of the comments on here which helps calm the nerves the week before the exams I think.

Best of luck to everyone for the future!

Mark1916

I'm going to appeal failing in on IMP then I'll go from there! Absolute joke of an organisation! Congrats to everyone who passed!

dunners1984

Hi All. Just a note to those who failed. I failed the core in 2010. Was so upset and actually was one of the worst days I have had. But I travelled up to home that morning and got some good TLC from mammy and you know what, I felt much better by the Saturday. I realised it's not the end of the world and that life goes on. There are much worse things that can happen. I put it to the back of my mind and the following summer I just got down to study again and passed that damn core 2nd time round.

0028673

Accountant81 wrote: »

I had looked into it on the basis that they were moving to 4 sittings a year. But that isn't due to happen until 2016. Therefore you won't be able to sit any of their exams until June now. At this level you will need to sit 5 exams and you can only do 4 in a sitting. I decided if I failed that I would stick with ACA, it hardly seemed worth it. Plus you have to pay €900 for the exa,s you are exempt from.

ACCA have an extra session of exams from September 2015. There will be 3 exam sittings in 2015 and 4 exam sittings for 2016.

danko2012

It's seriously disappointing to those who failed. I did my 1st sitting in 2012 and got red in PM & IMP and Decile 10 and failed Audit elective Decile 9. Resat in 2013 and failed, got 6 Yellows & Decile 8 and failed elective Decile 7. This year i was working and had only 1 week off before the exams and passed with 3 G & 3 Y, Decile 4 and passed elective Decile 2.

The point is that u are due a bit of self pity for the weekend but as my result shows (pretty shocking in 2012) to passing this time it is achievable and to keep going no matter how bad u feel, that it will come right if u stick with it. Best of luck to all those repeating next year I'm off this thread now.

User625733

Hi, like a lot of you today I received my results today! Passed the elective with decile 1 so was pleased with that! However failed the core...got a green on tax and the rest yellow however received sufficiency group 1...I am asking for advice on what exactly this means and is there a point remarking it?? Thanks

Nermal

Looking at the board report, I have to completely disagree with their criticism of students trying to map indicators:

"It cannot emphasise enough that once candidates respond to the issues presented in the case study, it shouldn’t matter what the “mapping” is. It is not about getting inside the precise mindset of the examiner or the FAE Board: it is about providing the best advice you can in the context of the information provided in the case study."

There's so much information provided it's actually a crucial skill to get inside the mind of the examiner and find out from what perspective you're being asked to address it.

PhilipLuke

User625733 wrote: »

Hi, like a lot of you today I received my results today! Passed the elective with decile 1 so was pleased with that! However failed the core...got a green on tax and the rest yellow however received sufficiency group 1...I am asking for advice on what exactly this means and is there a point remarking it?? Thanks

Seems fairly shocking that you failed with decile 1 and no reds! I got all yellows and sufficiency 2! Someone told me that would probably have been enough to pass this year! Overall I found core very business/strategy orientated this year! Hard to believe there is so little financial reporting and tax in these exams!

2014DCR

Well done to everyone that made it over the line. A brilliant achievement.

I failed both Core & Elective (APM). Red in Audit which I can't get my head around! Y's & G's in everything else. Don't know what happened in my elective, had no concerns after the exam.

The thought of having to go through it all again is killing me at the moment. Did anyone that pass go to external grinds or anything like that (and would recommend it)? Any pointers would be greatly appreciated.

TonyT837

Nermal wrote: »

Looking at the board report, I have to completely disagree with their criticism of students trying to map indicators:

"It cannot emphasise enough that once candidates respond to the issues presented in the case study, it shouldn’t matter what the “mapping” is. It is not about getting inside the precise mindset of the examiner or the FAE Board: it is about providing the best advice you can in the context of the information provided in the case study."

There's so much information provided it's actually a crucial skill to get inside the mind of the examiner and find out from what perspective you're being asked to address it.

Yeah glad I'm not the only one who finds this an incredible thing to say. I failed because I didn't map enough as I clearly missed the IMP indicators. You really have to wonder about them sometimes!

User625733

PhilipLuke wrote: »

Seems fairly shocking that you failed with decile 1 and no reds! I got all yellows and sufficiency 2! Someone told me that would probably have been enough to pass this year! Overall I found core very business/strategy orientated this year! Hard to believe there is so little financial reporting and tax in these exams!

The decile 1 was in tax elective..in the core I was decile 7 with all greens and yellows but failed on a sufficiency group 1...do you think it is worth remaking/appealing

PMFAE

I have just looked at the board report and I know I picked up on the audit indicators and gave responses similar to what they were after.

Its the only red I got. Does anyone think there is a slight chance my audit answers were missed in the answer book when marked? Are all scripts marked more than once?

Thanks guys

PG1234

PMFAE wrote: »

I have just looked at the board report and I know I picked up on the audit indicators and gave responses similar to what they were after.

Its the only red I got. Does anyone think there is a slight chance my audit answers were missed in the answer book when marked? Are all scripts marked more than once?

Thanks guys

I'm exactly the same, decile 6 & 0 sufficieny, only red was audit......

I know people say appealing won't make a difference, but wouldn't what if be worse for the sake of €56

Edmundomee

User625733 wrote: »

The decile 1 was in tax elective..in the core I was decile 7 with all greens and yellows but failed on a sufficiency group 1...do you think it is worth remaking/appealing

It's so tight it is worth appealing in my eyes... If you got 1 green in tax and yellows in all the rest and I got a green in audit and yellows in the rest and got decile 4 and passed.

It just shows how tight everything is once you drop out of decile 1 and decile 2.

I'd try the appeal if i was you.

IR1SH RANG3R

Assuming it's not worth appealing the elective with a decile of 7 and sufficiency of 2 as its AAA which had the abysmal 54% pass rate??

Aidodub87

2014DCR wrote: »

Well done to everyone that made it over the line. A brilliant achievement.

I failed both Core & Elective (APM). Red in Audit which I can't get my head around! Y's & G's in everything else. Don't know what happened in my elective, had no concerns after the exam.

The thought of having to go through it all again is killing me at the moment. Did anyone that pass go to external grinds or anything like that (and would recommend it)? Any pointers would be greatly appreciated.

I failed last year and decided that I needed to take a different approach this year and went to the CGS courses thought they were excellent and really listened to how they said to approach the exam especially the planning. In the exam I did spend 2 hours planning the core paper before I started to write the answer !! Liam Doran is unreal in the CGS. Delighted to say that I passed it this year.

Dellboy2007

The pass rates dropped as I expected. I'm sure this is because they are bringing in a repeat and want to justify it with enough people to pay for it! #notbitter

jkiamasnake

Dellboy2007 wrote: »

The pass rates dropped as I expected. I'm sure this is because they are bringing in a repeat and want to justify it with enough people to pay for it! #notbitter

im curious, how did you know the rates were going to drop so much and not stay around the circa 74% mark?

I am still so distraught knowing I have to do the whole thing again - only this time without any study leave - just annual leave!

I was so happy with my approach and how much study I had done. Now I havent a clue even where to begin!

PhilipLuke

Did everyone who failed get an enrollment form for the revision course, they seem to have forgotten to put mine in?

Dellboy2007

jkiamasnake wrote: »

im curious, how did you know the rates were going to drop so much and not stay around the circa 74% mark?

I am still so distraught knowing I have to do the whole thing again - only this time without any study leave - just annual leave!

I was so happy with my approach and how much study I had done. Now I havent a clue even where to begin!

Due to the Tough aafrp and toughest core in a few years imho, but also when they mentioned that they were going to do repeats I knew for definite. The pass rate will probably be the same next year.

I'm still coming to terms with failing an accounting exam on IT.

I saw on the board report some mention of feedback on the IMP indicator from Cassi survey AND OTHER SOURCES. I presume this is boards.

If you are reading this, I want you to know you made a spelling mistake in the report, right after you mentioned about poor spelling this year.

Soap_Soup

Dellboy2007 wrote: »

The pass rates dropped as I expected. I'm sure this is because they are bringing in a repeat and want to justify it with enough people to pay for it! #notbitter

There isn't a resit for the elective this year is there?

I'd love to get to speak to the exam board in person and ask them some serious questions.

The fluctuation in the AAA pass rate- Any reasonable person would say students are going to be of a similar standard to the prior year in such a large sample from a similar educational and career background. So what is it lads, was your paper this year a failure as it didn't allow enough students to show competence, or did you pass people in previous years that you wouldn't now consider 'competent'?

It's a very obvious but very serious question, and it should be answered.

ASOT2012

Dellboy2007 wrote: »

Due to the Tough aafrp and toughest core in a few years imho, but also when they mentioned that they were going to do repeats I knew for definite. The pass rate will probably be the same next year.

I'm still coming to terms with failing an accounting exam on IT.

I saw on the board report some mention of feedback on the IMP indicator from Cassi survey AND OTHER SOURCES. I presume this is boards.

If you are reading this, I want you to know you made a spelling mistake in the report, right after you mentioned about poor spelling this year.

Good spot Dellboy.

"The overall standard of presentation was reasonable but it is worth noting again that in a number of cases the standard of layout, presentation (including basics such as spelling and legibility) and the ability to communicate in a clear and coherent manner fell well short of the standard to be expected of a Chartered Accountant(after allowing for the context of a pressured examination). Candidates who fail to make their points clearly oftern score less well than those who lay out solutions in a well organised, clear and concise manner."

Also, there is a fundamental flaw in an exam where you can fail on an area that isn't even going to be in the repeats/next sitting.

Or where you can fail on audit in the core but pass the elective etc..

Suppose I should also say I passed the core in case this sounds like I'm embittered. Its a fact. Also this years Elective was a lot tougher than previous years as evidenced by the pass rates. This shows a clear lack of consistency!

9qwas1

Hi just wondering -could someone let me know , how far away I am from passing the core exam . I got all yellows and one red in audit . Sufficiency grouping 2 and decile 8 . If I got all yellows would I have passed the core exam ? Sorry for sounding so stupid regarding this ! I know I need an sufficiency group 0. But would all yellows get me this ?? Thanks

Aidodub87

9qwas1 wrote: »

Hi just wondering -could someone let me know , how far away I am from passing the core exam . I got all yellows and one red in audit . Sufficiency grouping 2 and decile 8 . If I got all yellows would I have passed the core exam ? Sorry for sounding so stupid regarding this ! I know I need an sufficiency group 0. But would all yellows get me this ?? Thanks

I think sufficiency means that you were two C's away from passing.

PG1234

Doesn't matter what colours you get unless you get 0 in sufficiency I'm afraid. However doesn't sound like you were a million miles away so take encouragement from that for next year.

cson

Anyone reading here thinking of starting the 2015 thread; don't do it, there's a curse!

Most expensive morning of my life considering I didn't go anywhere, didn't buy anything and didn't leave the bed until 11am

lydia123

cson wrote: »

Anyone reading here thinking of starting the 2015 thread; don't do it, there's a curse!

Most expensive morning of my life considering I didn't go anywhere, didn't buy anything and didn't leave the bed until 11am

It's already started!

PhilipLuke

9qwas1 wrote: »

Hi just wondering -could someone let me know , how far away I am from passing the core exam . I got all yellows and one red in audit . Sufficiency grouping 2 and decile 8 . If I got all yellows would I have passed the core exam ? Sorry for sounding so stupid regarding this ! I know I need an sufficiency group 0. But would all yellows get me this ?? Thanks

I got the same sufficiency and decile as you, all yellows and failed

20 Times 20 Times

Anyone got an email address for Sean Murray ?

Soap_Soup

Anyone have a different link to the board report? - the one on the institute site is crashing for me.

20 Times 20 Times

What absolute W*nkers saying there disappointed with the scripts - They made the exam they knew it was substantially tougher than previous years !!! 52% pass rate is not acceptable. Are they basically saying sorry lads were disappointed with you this year but we let a few last year to slip through the net !!!

Soap_Soup

20 Times 20 Times wrote: »

What absolute W*nkers saying there disappointed with the scripts - They made the exam they knew it was substantially tougher than previous years !!! 52% pass rate is not acceptable. Are they basically saying sorry lads were disappointed with you this year but we let a few last year to slip through the net !!!

I 100% agree.

The institute really need to clarify just what is going on with the Audit elective.

Any reason like "the standard of scripts wasn't up to standard" isn't enough. Why were they not up to standard? If they aren't trying to genuinely find that out (or explain why it is) they really aren't fit for purpose.

autumnbelle

Anyone got another link to the board report, it won't open for me either

pugw

autumnbelle wrote: »

Anyone got another link to the board report, it won't open for me either

Lads I got sufficiency 0 decile 6 but a red in B/L wud it be worth appealing do ye think?? Or do they ever actually change them

TonyStark

PG1234 wrote: »

I'm exactly the same, decile 6 & 0 sufficieny, only red was audit......

I know people say appealing won't make a difference, but wouldn't what if be worse for the sake of €56

AFAIK, All exam papers are double marked. So your paper has been looked over by two examiners already.

NoChance14

Anyone know if the report on our scripts is worth paying for? Need to see where I went wrong but payed for a report at cap 2 & it wasn't worth the paper it was printed on!

womandriver

Can anybody attach the board report? Can't get in to it at all. Thanks.

Edit: finally managed to open it so ignore above

aquinn101

lydia123 wrote: »

I considered it on the 8th of Nov because that was the deadline for December exams but thought I'd be wishing myself bad luck! I'll look into it on Monday haha! The only reason I would is because at least if you pass a subject you get to bloody well keep it!!! I'd still repeat FAE next year because I'm a tad stubborn.

Can you do both boards at once? I've considered doing 2 acca next June and then faes in september just so that in the event I fail again next year I havent totally wasted a year?!?