FAE September 2014

Aidodub87

R0N BURGUNDY wrote: »

Alright mates - I'll tell you me story.

2012: [Core] fail: G G Y Y Y R (tax -> incompetent answer) decile 7 suff 0, [APM] fail decile 7 suff 1
2013: [Core] fail: Y Y Y Y Y Y decile 10 suff 2, [APM] fail decile 10 suff 2
2014: [Core] pass: G G G Y Y Y decile 1 suff 0, [APM] pass decile 6 suff 0

I knew after 2013 that I had gone downhill so decided to do ACCA on the side to cover my back and also as a means of studying. Passed P1, P2 & P3 in June this year but didn't pay the fees for exemptions (still outstanding whoops), went on a weeks holiday in Ibiza to clear the head (empty the head more like) and then got back and went to CGS during July (3 weekends and 1 x two day class during the week) and started studying on my own in August; took the whole month off work. Put myself into isolation with no music or distractions and stuck to a full days work for the month; 10-6 mostly and read the online Financial Times every day of August; filtering out irrelevant crap and writing down in a section of my exam file relevant facts, stories etc. that I could use in the exam. It's hard to know which of these factors had most impact or if all of them added something together but anyway I got decile 1 in core this year and I'm absolutely delighted. I had mostly ruled out getting a pass in APM because I always neglected it when studying. I think CGS defo saved me in that this year.

Overall, I think I should have passed first time but messed up tax a little by overthinking a situation. The following year I was somewhat disheartened and didn't reach the same level of focus and sharpness for the exam and did sh1te in both. I totally blanked out the fact that I got decile 10 in both; I denied it to myself if I'm honest which allowed me to have one last stab and so I decided to give it everything. Somehow it all came together.

Congratulations to all who passed. Nightmare for anyone who failed but you can defo pick yourself up hopefully if you've not lost your job. It really is a blow having to wait a whole year for a resit so I'd definitely consider some ACCA exams as a backup plan and at least they are every 6 months at present.

Lovely story you deserved to get it this year

Soap_Soup

Anyone know if there are ACCA exemptions for passing the core?

The idea of having 4 or 5 exams is a little disheartening at the minute after having passed CAP1, CAP2, and the Core.

And what type of subject matter does APM cover? It's hard to ignore the pass rates outside the Audit elective. I've been working in audit a few years so it's been my natural choice. But it feels like I'm signing up to wait another 12 months, run a marathon and at the end of it flip a coin.

Accountant81

Melon head wrote: »

Any advice on passing FAE 2015?

I started the cases in January. Did all the steps cases, searched last years thread for extra cases, you will get a huge bank from that. And chip away at the FR standards, I had covered them each about 4 times by the time it came to the exams. And do the Derry cotter book inside out. The sub question was pretty much identical to one from the book. As was the revenue recognition question. I would say definitely do not leave it til study leave to be opening the books or cases. I worked consistently throughout the year in the evenings and at weekends and that way there wasn't as much pressure when it got to June. Everyone has their own way of doing it but that worked for me.

Dellboy2007

Myshirt is right. The institute have a loan for €27 million euro for that new building and guess where a third of their revenue comes from? Us.

just having a look through their annual report...

Eusebius

People passed this year with 6 yellows??
I failed with 5 yellows and 1 green. Decile 7 sufficiency 1. Appeal sent in..

acastudent

Eusebius wrote: »

People passed this year with 6 yellows??
I failed with 5 yellows and 1 green. Decile 7 sufficiency 1. Appeal sent in..

5 yellows and green ? Fail ? Are you for real ????
Now I heard it all ...

20 Times 20 Times

Eusebius wrote: »

People passed this year with 6 yellows??
I failed with 5 yellows and 1 green. Decile 7 sufficiency 1. Appeal sent in..

I passed with that decile 4

Daisy03

Just reading the board report. I missed The West Wing references in Stockard in the audit elective on the day. Would've given me a right laugh. There is a Josh, Donna, Claudia, Sam and Charlie Bartlett!

Eusebius

20 Times 20 Times wrote: »

I passed with that decile 4

20 times, just to clarify, did you get 6 yellows?

Lylodemo

Hey
Did anyone pass with a decile ranking 6 and sufficiency grouping 0?????

Lylodemo

myshirt wrote: »

Guys, anyone good with revenue website. Where can I get a form CT1 for acc periods ending in 2014

You're better off using ROS 😊 It is much more convenient

Ha ha ignore the weird writing beside ROS that's supposed to be a smily face

conor1979

Lylodemo wrote: »

Hey
Did anyone pass with a decile ranking 6 and sufficiency grouping 0?????

I did. Got 5 yellows and one green (in IMP).

Think I must have been bordeline!

Lylodemo

conor1979 wrote: »

I did. Got 5 yellows and one green (in IMP).

Think I must have been bordeline!

I got 1 red 2 greens the rest yellows. Life really kicked my ass during the year so I feel a lot better now in applying for an appeal but not hopeful one can only dream

2014fae

Does anyone know if the fee for a tutorial on your paper for core is the total on the letter. It says it is that per paper on the site. Bit steep if it's times 2

Lylodemo

2014fae wrote: »

Does anyone know if the fee for a tutorial on your paper for core is the total on the letter. It says it is that per paper on the site. Bit steep if it's times 2

I'd ring them to double check, I think it's cost for Core as one paper but there's no harm in doubling checking

Soap_Soup

Anyone have a link to the relevant ACCA info? Is there an Irish specific section with details on CAI exemptions etc?

lydia123

portal.accaglobal.com/accrweb/faces/page/public/accreditations/enquiry/awards/EnqAwardsTable.jspx?_afPfm=-crd2ifc26

I can't post the full link but just removed the http bit... https://

lydia123

In addition, the paper(s) listed below will be exempted on the basis of the corresponding accredited modules.

PAPER(S) ACCREDITED MODULES

F2 Management Accounting on the basis of MANAGEMENT ACCOUNTING (CAP1)
F3 Financial Accounting on the basis of FINANCIAL ACCOUNTING (CAP1)
F5 Performance Management on the basis of STRATEGIC FINANCE AND MANAGEMENT ACCOUNTING (CAP2)
F6 Taxation on the basis of TAXATION I (CAP1) PLUS TAXATION II (CAP2)
F7 Financial Reporting on the basis of FINANCIAL REPORTING (CAP2)
F8 Audit and Assurance on the basis of AUDIT AND ASSURANCE (CAP2)
F9 Financial Management on the basis of FINANCE (CAP1)

Basically becuase we have done all of CAP1 and CAP 2 we are exampt as far as the F papers.

If you have passed elective I'd say you are exempt from the P paper associated with that elective... I'd say....!

lydia123

In addition, the paper(s) listed below will be exempted on the basis of the corresponding accredited modules.

PAPER(S) ACCREDITED MODULES

F2 Management Accounting on the basis of MANAGEMENT ACCOUNTING (CAP1)
F3 Financial Accounting on the basis of FINANCIAL ACCOUNTING (CAP1)
F5 Performance Management on the basis of STRATEGIC FINANCE AND MANAGEMENT ACCOUNTING (CAP2)
F6 Taxation on the basis of TAXATION I (CAP1) PLUS TAXATION II (CAP2)
F7 Financial Reporting on the basis of FINANCIAL REPORTING (CAP2)
F8 Audit and Assurance on the basis of AUDIT AND ASSURANCE (CAP2)
F9 Financial Management on the basis of FINANCE (CAP1)

Basically becuase we have done all of CAP1 and CAP 2 we are exampt as far as the F papers.

If you have passed elective I'd say you are exempt from the P paper associated with that elective... I'd say....!

F1 is exempt with your degree (probably has to be business related - search for that separately.

iwishihadaname

lydia123 wrote: »

If you have passed elective I'd say you are exempt from the P paper associated with that elective... I'd say....!

Unfortunately ACCA will not give any exemptions for any of the P papers.

Lylodemo

I would advice against moving to ACCA, the cost is huge for exemptions and you need to sit 5 exams yet you're only allowed 4 in one sitting so it will take another year anyway. Also the stress alone will be bad to deal with. Dust yourself off relax and focus on sept 2015

jny107

Lylodemo wrote: »

Hey
Did anyone pass with a decile ranking 6 and sufficiency grouping 0?????

I got decile 6, sufficiency 0 last year with 3 greens 2 yellows and 1 red in tax. appealed but made no difference! passed this year with 3green 3 yellow decile2 suff 0

Lylodemo

jny107 wrote: »

I got decile 6, sufficiency 0 last year with 3 greens 2 yellows and 1 red in tax. appealed but made no difference! passed this year with 3green 3 yellow decile2 suff 0

I'm delighted for you, well done on your pass

donnem33

For people repeating...are you considering paying for the revision course?

For those who repeated this year and did the revision course...is it worth the high cost?

mackers87

Lylodemo wrote: »

I would advice against moving to ACCA, the cost is huge for exemptions and you need to sit 5 exams yet you're only allowed 4 in one sitting so it will take another year anyway. Also the stress alone will be bad to deal with. Dust yourself off relax and focus on sept 2015

Are you allowed to sit exams (and pay for the exams you sit) before paying for exemptions? E.g. could I possibly sit two or three in June and only pay for the exemptions if I was to end up going forward with the ACCA route?

I understand where you're coming from. But I feel like I need an insurance policy. I just don't trust the exam next year to be fair (or even to make sense to be honest). I was resitting the Audit elective and it was a jokeshop. Not comparable to prior year/mocks, and even audit directors and partners in our firm have had a look at the paper couldn't believe how parts of it didn't make sense in an audit setting.

I know that will all sound bitter to those that passed. But I'm just trying to be realistic. I've seen some of the smartest/ hardest working colleagues I know really struggle with several repeats of the CAP2's (back when the pass rates for that were 40-50%), while I luckily got through first time. I knew how much luck came into that. And luck is luck, you can't depend on it.

I was OK with finishing my contract still having to get the elective. But a year later the thought of waiting another 12 months for an "on the day" exam with a 50% pass rate feels a bit reckless. So I'm really thinking about ACCA at the minute.

Basically, I just don't want to put all my eggs in that ****ty institute basket, which is constantly pointed out as being full of holes.

Lylodemo

mackers87 wrote: »

Are you allowed to sit exams (and pay for the exams you sit) before paying for exemptions? E.g. could I possibly sit two or three in June and only pay for the exemptions if I was to end up going forward with the ACCA route?

I understand where you're coming from. But I feel like I need an insurance policy. I just don't trust the exam next year to be fair (or even to make sense to be honest). I was resitting the Audit elective and it was a jokeshop. Not comparable to prior year/mocks, and even audit directors and partners in our firm have had a look at the paper couldn't believe how parts of it didn't make sense in an audit setting.

I know that will all sound bitter to those that passed. But I'm just trying to be realistic. I've seen some of the smartest/ hardest working colleagues I know really struggle with several repeats of the CAP2's (back when the pass rates for that were 40-50%), while I luckily got through first time. I knew how much luck came into that. And luck is luck, you can't depend on it.

I was OK with finishing my contract still having to get the elective. But a year later the thought of waiting another 12 months for an "on the day" exam with a 50% pass rate feels a bit reckless. So I'm really thinking about ACCA at the minute.

Basically, I just don't want to put all my eggs in that ****ty institute basket, which is constantly pointed out as being full of holes.

I am not entirely sure about that but I do remember someone in a previous post stating they sat some and still owe the ACCA for the exemptions. If you are only repeating the elective have you thought of a move to tax or APM? I really liked APM and found it easy enough to pass

I know how you feel, failing an exam is soul destroying to say the least and all your hard work is assessed on how you feel and interpret the case on the day ;( I am the type of person that blooms in real life situations and crumbles during an exam but unfortunately the preferred choice these days is exams

mintymac

Is anyone thinking off appealing the exams they failed. I got the core but not my elective and thought it was worth the appeal.

Rose26

you cant appeal unless you have a doctors note for the day of the exam, you can only get a check that your marks were toted correctly, but they will not re mark or even read through your script again

mintymac

Thanks yeah that's what I though I just applied for the re check of marks just in case because it was only €28. Do they only re check the paper you request?

BigMawn12

I didn't receive anything about membership. Just seen the deadline is Friday - pity I've hardly checked the board here since September. Is it €877? How much is it in £ anyone?

Aidodub87

BigMawn12 wrote: »

I didn't receive anything about membership. Just seen the deadline is Friday - pity I've hardly checked the board here since September. Is it €877? How much is it in £ anyone?

You don't receive anything, it's up to you to have everything submitted by Friday. And yeah it's €877.

BigMawn12

How much is it in £?

Aidodub87

BigMawn12 wrote: »

How much is it in £?

It's on the website under membership fees

BigMawn12

Those figures aren't right though because they are for a full year. We only need to pay the once off joining fee and a quarter of the year for membership.

Therefore total £ price is not £614 and is actually £317 (£218 + £99 for quarter)

Euro prices would be reduced accordingly as well therefore only €453.25 needs paid (€312 + €141.25 for quarter)

Pretty sure that's it.

womandriver

BigMawn12 wrote: »

Those figures aren't right though because they are for a full year. We only need to pay the once off joining fee and a quarter of the year for membership.

Therefore total £ price is not £614 and is actually £317 (£218 + £99 for quarter)

Euro prices would be reduced accordingly as well therefore only €453.25 needs paid (€312 + €141.25 for quarter)

Pretty sure that's it.

That's correct for €, I emailed them and they sent an invoice for €453.

BigMawn12

Aidodub - you paid already lad?

Nermal

If you can't get the diary together by Friday, what's the next closing date?

WhatYaSay

Anyone here make the switch from Audit to APM? And if so, what did ye think? Have to repeat the elective and I think I'd be better off going into something new than trying to get my head around audit again, it was bad enough the first time! From the brief description on the 'which elective to choose' sheet I think I'd have more of an interest in APM anyway.

Also does anyone know when the elective revision lectures are on? Have some travels booked from end of March so hoping I'd get to them before that and I could cover the course in the meantime. Thanks.

ChrisROI

Lylodemo wrote: »

I got 1 red 2 greens the rest yellows. Life really kicked my ass during the year so I feel a lot better now in applying for an appeal but not hopeful one can only dream

In the same situation as you, decile 6 sufficiency 0. Got 2 green, 3 yellow and red in tax. Put my appeal in today on ex.circumstances. Not holding much hope but it would be a lovely Christmas surprise if I got it, at least to have something to show at the end of all the hard work. I think it's harder to take when it was a passable exam and now we have a year to wait, then you add in the uncertainty of a new core stucture

Lylodemo

ChrisROI wrote: »

In the same situation as you, decile 6 sufficiency 0. Got 2 green, 3 yellow and red in tax. Put my appeal in today on ex.circumstances. Not holding much hope but it would be a lovely Christmas surprise if I got it, at least to have something to show at the end of all the hard work. I think it's harder to take when it was a passable exam and now we have a year to wait, then you add in the uncertainty of a new core stucture

I feel your pain

I'm send my appeal in tomorrow, one can only dream

What's all this about changing the core? Eeeeeeeeeekkkkkkk

ChrisROI

Lylodemo wrote: »

I feel your pain

I'm send my appeal in tomorrow, one can only dream

What's all this about changing the core? Eeeeeeeeeekkkkkkk

I have heard no imp this year as it is to be replaced by management accounts. The weighting for pm is also increasing. Not sure of Anything else but with it being the first year of a 'new' approach I think there may be some issues to come from it. I doubt it will run smoothly for everyone

Lylodemo

ChrisROI wrote: »

I have heard no imp this year as it is to be replaced by management accounts. The weighting for pm is also increasing. Not sure of Anything else but with it being the first year of a 'new' approach I think there may be some issues to come from it. I doubt it will run smoothly for everyone

Great I got a green in IMP this year

mackers87

Is anyone with sufficiency 2 going for a clerical recheck in the elective?

I wasn't going to but having second thoughts today.

Dellboy2007

Just to note, the PM weighting was technically 30% for us this year as 5 indicators out of 17 = 29%, not 20-25% as the comp statement suggested, but sure when has the fae board ever done things by the book.

Good luck to everyone appealing. Let us know how you get on as I find it hard to believe their stats on successful appeals.

jny107

BigMawn12 wrote: »

I didn't receive anything about membership. Just seen the deadline is Friday - pity I've hardly checked the board here since September. Is it €877? How much is it in £ anyone?

It's £317. I confirmed this with Sandy Grant. You pay your admission fee (£218) and £99 being for the remainder of 2014 up to 31.12.14. Yes I know there are only 5/6 weeks left of 2014 but you pay for a full quarter if you join between 30.09.14 and 31.12.12 (typical eh??)

Annual membership is £396 for 2015 on (payable in April but invoiced around Feb)

jny107

Dellboy2007 wrote: »

Just to note, the PM weighting was technically 30% for us this year as 5 indicators out of 17 = 29%, not 20-25% as the comp statement suggested, but sure when has the fae board ever done things by the book.

Good luck to everyone appealing. Let us know how you get on as I find it hard to believe their stats on successful appeals.

Dellboy good luck with your exam next year. By far the toughest thing I found about repeating this year was the emotional stress of having to go through it again and mentally dealing with it. The sooner you can accept it and move on the better

mackers87

Dellboy2007 wrote: »

Just to note, the PM weighting was technically 30% for us this year as 5 indicators out of 17 = 29%, not 20-25% as the comp statement suggested, but sure when has the fae board ever done things by the book.

Good luck to everyone appealing. Let us know how you get on as I find it hard to believe their stats on successful appeals.

It's not all that hard to believe when you think about the fact that there really isn't a re-mark option.

There's clerical re-check - they count the amount of C's etc you were awarded. This has already been done twice. If two Chartered Accountants can't count to 9/18 (or however many indicators the Core has) between them, we're more ****ed than I thought.

Then there's an appeal on extenuating circumstances - only for people who were sick etc. and have backup documentation - and even at that they'll still assess whether they think they should give it to you based on these circumstances.

There is no option where they actually re-look at your answers and critique whether you should have been designated as competent/ gained more C's etc.

The words 're-mark' and 'appeal' are a bit misused in this context IMO.

Dellboy2007

mackers87 wrote: »

It's not all that hard to believe when you think about the fact that there really isn't a re-mark option.

There's clerical re-check - they count the amount of C's etc you were awarded. This has already been done twice. If two Chartered Accountants can't count to 9/18 (or however many indicators the Core has) between them, we're more ****ed than I thought.

Then there's an appeal on extenuating circumstances - only for people who were sick etc. and have backup documentation - and even at that they'll still assess whether they think they should give it to you based on these circumstances.

There is no option where they actually re-look at your answers and critique whether you should have been designated as competent/ gained more C's etc.

The words 're-mark' and 'appeal' are a bit misused in this context IMO.

I hear you bro, my gripe with the institute is that there is absolutely no transparency there. Ask yourself this:

1) why don't they let you see your paper?
2) why don't they release the amount of C's and RC's needed to pass depth/ breadth?

For an organisation that promotes such high levels of transparency and governance, they are showing themselves to be very dishonest

TheDoctor

4000!!!

DOOOOOOOOOOOOMMMEEEDDD!

WhatYaSay

Just looking at the switch of elective form and I see that it says that students must pay for the main FAE course lectures (€275) when switching. I had planned on doing the revision course and covering the curriculum myself. Has it always been the case that you have to do the main course lectures when switching?