FAE APM Elective 2014

myshirt

Let's keep all APM discussion here.

Accountant81

How did everyone find Thursday? A fair enough paper I thought!

Reddzer2002

I thought it was a fair paper. I think timing is going to be crucial in this and rally felt that I should have planned my answer better. I made one mistake in calculations in Sim 1 and spent too long trying to correct it.

I hadn't really started studying it but know now that I have a lot to do.

How are people going about studying for it?

Accountant81

Reddzer2002 wrote: »

I thought it was a fair paper. I think timing is going to be crucial in this and rally felt that I should have planned my answer better. I made one mistake in calculations in Sim 1 and spent too long trying to correct it.

I hadn't really started studying it but know now that I have a lot to do.

How are people going about studying for it?

I'm just trying to work my way through that massive book and past papers etc. anyone any other ideas?

iwishihadaname

How is the elective marked? Is there a certain amount of RC's, C's etc needed to pass? Thanks

Reddzer2002

Is anyone doing CGS for this? I am curious as to what their notes are like for it?

swoggle

Reddzer2002 wrote: »

Is anyone doing CGS for this? I am curious as to what their notes are like for it?

I'm doing the grinds so will let you know what the notes are like. The grind isn't until the end of July though...

I doubt the notes will be of much benefit as last year people were saying it was your own knowledge/common sense that you needed to get through it.

BigMawn12

Lads - if someone could spare a few mins while they're on a break and upload a zip file of the APM notes, I'd be your best mate. I'm going to CGS for APM; I'll throw you a copy of the notes if you want more material yourself. Cheers in advance.

Accountant81

BigMawn12 wrote: »

Lads - if someone could spare a few mins while they're on a break and upload a zip file of the APM notes, I'd be your best mate. I'm going to CGS for APM; I'll throw you a copy of the notes if you want more material yourself. Cheers in advance.

Which notes do you mean? I'm just working from the book?

BigMawn12

Just from the student centre? I take it there are notes there?

Accountant81

BigMawn12 wrote: »

Just from the student centre? I take it there are notes there?

Ah right ok. I'll see if I can upload them for you either this evening or tmrw. Tmrw is more probable really. If not I will email them to you.

BigMawn12

Top man - cheers a mill

Accountant81

Here are some of the notes. My connection is patchy today so I am working on more of them for you. Mostly cases in this upload

Accountant81

Another case

Accountant81

It wont let me upload the powerpoint slides it's saying it's an invalid file. But here are notes I found on last year's board that you might find useful.

BigMawn12

Legend mate - hope I can return the favour somehow. I'll let you know if I find anything else worth having

Reddzer2002

Thanks for all those guys. Sorry i am not able to upload anything yet because it says I need to have posted 50 times. Very annoying!

myshirt

Has anyone done a PEST analysis of Ireland they can share?

Reddzer2002

myshirt wrote: »

Has anyone done a PEST analysis of Ireland they can share?

Haven't done one yet. It was during the mocks though that I realised in the back of the textbook there is a section on a number of countries with facts and figures.

I don't have to book in front of me and it may have been a very obvious observation!

laser08

Anyone do the plushtherma case study yet? The solution the institute provided has all the numerical workings blanked out. Anyone know what the story with this solution is?

heathcliff101

laser08 wrote: »

Anyone do the plushtherma case study yet? The solution the institute provided has all the numerical workings blanked out. Anyone know what the story with this solution is?

I had this issue only with my printed version. If you look at the word version on a pc you should be able to see the tables.

On the last indicator in the case on sources of finance, was anyone able to figure out how the issued share capital post rights issue is 8.333?

Thanks in advance!

myshirt

How is everyone faring on timing with APM? What's your approach? Getting cases done on time?

swoggle

swoggle wrote: »

I'm doing the grinds so will let you know what the notes are like. The grind isn't until the end of July though...

I doubt the notes will be of much benefit as last year people were saying it was your own knowledge/common sense that you needed to get through it.

CGS notes are pretty good/condensed.. haven't gone through it really though. Thought the lecturer was really good.

Is the APM book any use? Haven't looked at it..

myshirt

Did anyone pass the mock elective?

Nermal

Anyone done the Steps case MINERAL yet and care to weigh in on this: I think the solution is assuming tax charged on sales, rather than profit, which seems odd to me but might be standard in oil & gas.

thumbelinda

Hi all,

I have been mainly focusing on my Core stuff and havent even looked at APM, any one have any guidance in terms of how long it took you to get through the course? My SFMA last year was pretty good, probably a bit rusty now but wont be long brushing up (hopefully). Is it a common sense exam or is there a lot of material to cover?

Philip1988

thumbelinda wrote: »

Hi all,

I have been mainly focusing on my Core stuff and havent even looked at APM, any one have any guidance in terms of how long it took you to get through the course? My SFMA last year was pretty good, probably a bit rusty now but wont be long brushing up (hopefully). Is it a common sense exam or is there a lot of material to cover?

I am in the same boat. Has anybody any summary notes they could attach up?

passwo

myshirt wrote: »

Did anyone pass the mock elective?

Nope :-(
I got a comment on my script, which I am having difficulty reading. As far as I can make out, it says that I should 'put timing/timings against each indicator'
It's written on my rough plan sheet.

Anyone have any thoughts?

blizzard13

passwo wrote: »

Nope :-(
I got a comment on my script, which I am having difficulty reading. As far as I can make out, it says that I should 'put timing/timings against each indicator'
It's written on my rough plan sheet.

Anyone have any thoughts?

yeah i got that comment aswel - basically advising us to allocate a certain amount of time to each indicator, and when that time is up - move on to the next indicator!(otherwise time will be up and we wont have had sufficient time to look at each indicator):mad::cool:

passwo

i never ever put times against indicators before... weird

myshirt

passwo wrote: »

i never ever put times against indicators before... weird

Not weird to do it, but totally unwarranted that they ask for them. What purpose can it serve for them?

passwo

exactly. i found it a strange request.

Also thought a lot of what he/she wrote was very difficult to read.. bit ironic

Accountant81

myshirt wrote: »

Not weird to do it, but totally unwarranted that they ask for them. What purpose can it serve for them?

They want us to actually write beside each indicator the amount of time we have allocated to it? That is mental. And I don't understand how it will help them. Very strange. What does it matter to them?

myshirt

Accountant81 wrote: »

They want us to actually write beside each indicator the amount of time we have allocated to it? That is mental. And I don't understand how it will help them. Very strange. What does it matter to them?

Exactly.

I paused for a moment and thought is he just making a sensible suggestion. No. He's not. He wants the timings wrote down.

I'll let everyone to their own view, but I have a very strong view on why they're doing it.

In any event, what I will say is they definitely read and engaged with my solution in giving feedback and I appreciate it. Compares quite favourably to the level of feedback in Core.

Accountant81

myshirt wrote: »

Exactly.

I paused for a moment and thought is he just making a sensible suggestion. No. He's not. He wants the timings wrote down.

I'll let everyone to their own view, but I have a very strong view on why they're doing it.

In any event, what I will say is they definitely read and engaged with my solution in giving feedback and I appreciate it. Compares quite favourably to the level of feedback in Core.

I must be totally naive as I can't think why they would want us to do that.

Yes, I found the level of feedback to be very very detailed. I read the elective script first so thought that would be standard. When I saw the core I thought a page must've fallen out or something, there was that little feedback! It must be Joe Healy that corrected them.

laser08

I couldn't read any of the comments. The handwriting of the corrector was awful.

laser08

Nermal wrote: »

Anyone done the Steps case MINERAL yet and care to weigh in on this: I think the solution is assuming tax charged on sales, rather than profit, which seems odd to me but might be standard in oil & gas.

Yeah I was thinking the same. It says tax will be charged on profits but they include it In the break even calculation. Surely there is no tax when you are just breaking even and not making a profit

Nermal

laser08 wrote: »

Yeah I was thinking the same. It says tax will be charged on profits but they include it In the break even calculation. Surely there is no tax when you are just breaking even and not making a profit

It's not uncommon in oil & gas as far as I know for gov to charge % on revenue but it would definitely be called a royalty, not tax. And as you say, refers to profit elsewhere...

Philip1988

Hi all,

Still have not started studying apm and can't see where I will find time as I am caught up with the Core.

Anybody any advice on what's best to do?

zathan

Best plan at this stage is to just do cases, cases and more cases & some questions in the book maybe.

I have a work in progress (FOR BACK UP & LAST RESORT!!) index to the cases and questions that I will post when I've got it substantially done - plan is to have it in alphabetical order A-Z so if an indicator in "Market Entry" comes up, just go to "M" and all the relevant past cases will be there etc. I had something very similar for CAP 2 and worked a treat - but case technique and timing needs to be practiced in advance - still LOADS of time and I guarantee the afternoon after the Sims paper and the morning before the Elective exam will probably be when you will learn loads by just skimming past solutions etc.

You learn a lot just by doing the cases and if you're conscious that you need to focus on core instead, bear in mind that APM covers performance measurement - which you need "Competent" in the core so it's a win win to study the elective!

Timing wise, I would say take the first 30 mins to try and read the cases quickly. Then take 10 mins per case to read again and 10 mins per case to plan well (you will find you won't even use that amount of time), but something I have been finding is if you take the time recommended for each case, subtract 10 mins for reading, 10 for planning and divide by 20 mins (i.e. 20 mins per indicator) you get a fairly accurate answer for how many indicators there are! So if the case is 80mins, take off 10 for reading, 10 for planning, leaves 70, divide by 20 and you get 3 - generally means 3 indicators! Has work 95% of the time for me!

Gunners100

Nermal wrote: »

Anyone done the Steps case MINERAL yet and care to weigh in on this: I think the solution is assuming tax charged on sales, rather than profit, which seems odd to me but might be standard in oil & gas.

The solution is working out how much profit has to be earned after tax to break even on the set up costs of $262m - not break even on sales.
Set up costs at $262m and a tax rate of 50% mean that $524m profit needs to be earned over 5 years or $105 p.a.
Variable costs of $450m p.a and profit of $105m p.a mean $555m revenue has to be earned each year.
$555m/6.375m units give a selling price of $87 per barrel.

Excessively difficult question in my opinion.

FAE_APM

Hi guys - repeat offender back for another bashing with this exam.

As if I was not already aggrieved enough, with only 3 weeks to go, I decided to check the "Rules of Engagement". Seems to be some significant changes in the 13/14 Competency Statement compared to my 12/13 one...not good.

Can any kind soul put up the 13/14 Planning & Delivery Schedule for me? I think here will be some over lap on some class notes but if anyone is able to post the notes from the student centre that would be great. Alternatively if anyone can post wee Joes email (assuming he took the class the year).

Any assistance is much appreciated. I will try reward the helper

iwishihadaname

FAE_APM wrote: »

Hi guys - repeat offender back for another bashing with this exam.

As if I was not already aggrieved enough, with only 3 weeks to go, I decided to check the "Rules of Engagement". Seems to be some significant changes in the 13/14 Competency Statement compared to my 12/13 one...not good.

Can any kind soul put up the 13/14 Planning & Delivery Schedule for me? I think here will be some over lap on some class notes but if anyone is able to post the notes from the student centre that would be great. Alternatively if anyone can post wee Joes email (assuming he took the class the year).

Any assistance is much appreciated. I will try reward the helper

I remember the lecturer saying there's not much change in what is examinable, only now there's more emphasis on Ireland as a business location?

FAE_APM

iwishihadaname wrote: »

I remember the lecturer saying there's not much change in what is examinable, only now there's more emphasis on Ireland as a business location?

I hope so. I did see there was basically a whole new topic on Ireland as a biz location. There is few other additions also. Can't believe they did not dish out new books this year for the new syllabus. Institute is a joke sometimes. The green book is basically written specifically for the old syllabus.

swoggle

Are people finding the APM book useful? I've only done a few past papers and haven't looked at the book..

passwo

Hi All,

Can someone let me know how you attach a document to this thread?

Also, not sure if people have tried this question, but if you have - the Mock 2013 Sim 2 paper Dungaree PLC. I may be overthinking it, but cannot seem to figure out how the following figures in the solution were calculated

- Appendix 1
Projected asset per Share ii) The ordinary shares of 50p £5,700,00?

- Indicator 1
(i) Using internal cash resources option - the quick ratio of 0.90?
(ii) London bank loan - how could it result in a decrease in EPS of 00.13p?

DaUmpire

Guys looking a bit of help with the Douglas Glass limited case.

In the NPV calculation they have net cash inflows of 800BRL in years 1-5 but per the text I thought the pre tax net cash inflows were 108BRL?? also when calculating the tax for years 2-6 they have deducted the depreciation from the net cash flows as per the case depreciation is an allowable tax deduction however if it wasn't an allowable tax deduction is it just a cash of taxing the net cash flows? i.e the is no need to add the depreciation back on top of the net cash flows.

thanks

myshirt

How did people get on with Global?

Struggled to get it done in 80 minutes... please tell me someone else also did.. good case though..

Reddzer2002

myshirt wrote: »

How did people get on with Global?

Struggled to get it done in 80 minutes... please tell me someone else also did.. good case though..

Where is this case?

myshirt

On my phone now, but I got it from the student portal.

passwo

DaUmpire wrote: »

Guys looking a bit of help with the Douglas Glass limited case.

In the NPV calculation they have net cash inflows of 800BRL in years 1-5 but per the text I thought the pre tax net cash inflows were 108BRL?? also when calculating the tax for years 2-6 they have deducted the depreciation from the net cash flows as per the case depreciation is an allowable tax deduction however if it wasn't an allowable tax deduction is it just a cash of taxing the net cash flows? i.e the is no need to add the depreciation back on top of the net cash flows.

thanks

Just doing this question now, presume the 108 in the question should read 800BRL.
And ya, I think if depreciation wasn't an allowable deduction, u would just tax the 800