FAE 2016

Hickey 91

How is everyone fixed for the mocks? Are people currently trying to cover as much material as possible or what approach are people taking?

Can someone please help me with how I should be studying for Business Leadership... Don't know where to start. All help appreciated

ruairi58

I am focusing on Financial Reporting and Management Accounting for the Mocks. I want to be able to make a decent stab at those indicators or at least not totally panic when I see them. Otherwise I am going to have a brief look over Business Leadership before the mocks (paying attention to ethics - you know there will be an ethical indicator in the mocks at least, we might as well make a decent stab at that).

Hope that helps.

economyrefill

Any sign of the updated cheat sheet for 2016? Latest I have is the 2014, which has a bit too much IMP etc...

Any update appreciated!!

ruairi58

I would appreciate a cheat sheet for 2014 if you could share it via Blackboard or something.

FAEs2016

Are the solutions for the Business and Ethics questions (small textbook) on the website, or does anybody have a copy they could share? I've searched the website but haven't been able to find them.

ruairi58

Folks, I am in a bit of a panic here.

I heard PM mention the six industries that we have to be familiar with for the FAE exam. I looked through FAE explained and I was unable to find any mention of them. Does anybody know what he was talking about?

anthonygoodman

Subsidiary of a multinational
Real estate agency/ property
Financial services
Pure start up
Company in difficulty
PLC
Not for profit.

PM mentioned in class these are the 7 topical areas. When he presented these to the board there was no feedback meaning pm is in the right ball park. The board is content with his assumptions, only if he was way out would they interject n say he is going down the wrong line

superb choice of username

anthonygoodman wrote: »

Subsidiary of a multinational
Real estate agency/ property
Financial services
Pure start up
Company in difficulty
PLC
Not for profit.

PM mentioned in class these are the 7 topical areas. When he presented these to the board there was no feedback meaning pm is in the right ball park. The board is content with his assumptions, only if he was way out would they interject n say he is going down the wrong line

PM is on the right hemisphere rather than just being in the right ball park....it is a pretty wide ranging list and doesn't really help that much!!!

Horse Box 20

A word rhyming with ducked describes how I think tomorrow will go for me!!!!!

Best of luck to everyone anyways

Obrieski

Horse Box 20 wrote: »

A word rhyming with ducked describes how I think tomorrow will go for me!!!!!

Best of luck to everyone anyways

Sure, better off finding that out now! My aim to use mocks to practice timings, finding indicators etc. Might be useful as well to see how much more knowledge I need!!

Glas134

Hi Guys- does anybody have access to the updated tax elective ROI exam papers? I cant access them on my drive

Would appreciate if someone could email them onto me? Thanks :-)

futureaccount

Anybody knows where are the solutions for ethics?

Justwanttopass

Does anyone have a mapping of indicators to cases ?

I know there is one available for APM but cant find anything for core. Finding it really difficult to study topics and then search through cases for related material.

Thanks

lou2402

Hi I am repeating the Core got elective last year.

Thought those mocks were a shock to the system!

Pulled my RC in AFFRP up to a C though so happy with that and now with the lack of studying for cases now is the time to get stuck in.....again.

Wondering does anyone have any good notes for NI Tax for Core? Im fearful of tax as it can change a good bit form year to year.

Thanks

moleary20

Re. ROI Tax Interim Assessment

Did anyone else notice that the Examiner has referred to candidates' knowledge of the VAT treatment of the property as poor even though VAT on Property was specifically excluded from the Interim Assessment? Seems a bit out of line?

PunkFreud

Justwanttopass wrote: »

Does anyone have a mapping of indicators to cases ?

I know there is one available for APM but cant find anything for core. Finding it really difficult to study topics and then search through cases for related material.

Thanks

I'm studying cases in the morning, then individual topics in the afternoon. The Materials I'm using are:

FR - Derry Cotter's FR textbook;
Tax - Tax Qs from lectures (There's 15+ decent sized Qs)
BL - Lecture Qs + BL Qs from self-study pack
Finance & MA - SFMA CAP2 Exam Papers
Audit - CAP2 Exam papers

I'm not really answering your question, but hopefully this helps.

Legwinski

moleary20 wrote: »

Re. ROI Tax Interim Assessment

Did anyone else notice that the Examiner has referred to candidates' knowledge of the VAT treatment of the property as poor even though VAT on Property was specifically excluded from the Interim Assessment? Seems a bit out of line?

That's a joke if true! (Not doing tax elective myself)

Dublin Student1992

moleary20 wrote: »

Re. ROI Tax Interim Assessment

Did anyone else notice that the Examiner has referred to candidates' knowledge of the VAT treatment of the property as poor even though VAT on Property was specifically excluded from the Interim Assessment? Seems a bit out of line?

I seen that - very strange!!

ROI tax results were unreal though!

ACA2015

Dublin Student1992 wrote: »

I seen that - very strange!!

ROI tax results were unreal though!

I've very jealous of all the tax students with their tax exams under their belt and practice translating so much better than for the other two elective areas. As it always seems now audit scores the worst!

I'm pleased with my C in audit, an awful lot of work for just one indicator but as with the AAFRP at least it got me doing some work earlier on in the year. If just 8 indicators came up (unlikely) I'd be 25% of the way there for a pass in the elective.

Obrieski

Anyone know how the scoring worked for the interim? For 3 indicators on the exam, if you got C C and BC, would that not be a C overall for example?

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

It would appear from that then, that C was impossible if your planning agenda wasn't right no matter how great your risks and responses were? Seems overly harsh I feel (but then I would say that!)


Separately, how are people feeling after the mocks? I wanted to give them a decent go to see how they went time wise etc. Core comp paper is a beast in itself that will require special attention due to its volume! Looking back I'm glad I tried it all and feel it's a worthwhile experience

Masterxd

Obrieski wrote: »

Anyone know how the scoring worked for the interim? For 3 indicators on the exam, if you got C C and BC, would that not be a C overall for example?

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

It would appear from that then, that C was impossible if your planning agenda wasn't right no matter how great your risks and responses were? Seems overly harsh I feel (but then I would say that!)


Separately, how are people feeling after the mocks? I wanted to give them a decent go to see how they went time wise etc. Core comp paper is a beast in itself that will require special attention due to its volume! Looking back I'm glad I tried it all and feel it's a worthwhile experience

Felt the same as you obrieski got a BC too thought I would of got a C even after looking at examiners report. Found the report pretty useless, the difference between a C and BC being identifies "a good number" to "some".

I gave the mocks a good go too with day 2 being the worst. Overall found them useful but they have made me even more concerned about August and the amount of work needed over the next few weeks!

TAA_ICAI

Hi All,

Would it be possible to get a copy of the ROI tax elective mock paper from Friday?

Thanks :-)

ACA2015

Obrieski wrote: »

Anyone know how the scoring worked for the interim? For 3 indicators on the exam, if you got C C and BC, would that not be a C overall for example?

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

It would appear from that then, that C was impossible if your planning agenda wasn't right no matter how great your risks and responses were? Seems overly harsh I feel (but then I would say that!)


Separately, how are people feeling after the mocks? I wanted to give them a decent go to see how they went time wise etc. Core comp paper is a beast in itself that will require special attention due to its volume! Looking back I'm glad I tried it all and feel it's a worthwhile experience

Not to annoy you but I didn't feel I made a good go at the Planning Agenda. I didn't mention stuff like the Engagement letter. I really just focused on the risks in my Memo/Agenda but put in specific stuff like stuff to ensure is checked at the stock take. I was sure I was getting a BC and the solution makes me wonder. I did do the risks well tbh and maybe I did throw in a few lines which got me over the line with them. I was kicking myself when I was talking to people after.

FrStone

moleary20 wrote: »

Re. ROI Tax Interim Assessment

Did anyone else notice that the Examiner has referred to candidates' knowledge of the VAT treatment of the property as poor even though VAT on Property was specifically excluded from the Interim Assessment? Seems a bit out of line?

Yep, I've gone back and checked. Vat on property is specifically excluded from the interim assessment on the competency statement.

Even though knowing that shower nothing surprises me...

ACA2015

Oh and here is an excellent link that was posted on page 2 obrieski ( I can't link due to post count).

To pass the Core you need Sufficiency and Depth. Sufficiency is essentially BC's of indicators throughout the paper. That should be achievable to most. BC is worth 2 points and a C/HC is worth 4 so could can compensate for missing indicators with Cs. The depth is the tricky bit.

You need 50% of the available indicators Cs in both FR & BL. You then need 50% of available BCs in the remainder.

In the elective you just need sufficiency, so BCs the whole way will get you home. That's why those with BCs in the elective shouldn't worry too much.

There's some great examples on that link of what a pass is and what a fail is.

Obrieski

ACA2015 wrote: »

Oh and here is an excellent link that was posted on page 2 obrieski ( I can't link due to post count).

To pass the Core you need Sufficiency and Depth. Sufficiency is essentially BC's of indicators throughout the paper. That should be achievable to most. BC is worth 2 points and a C/HC is worth 4 so could can compensate for missing indicators with Cs. The depth is the tricky bit.

You need 50% of the available indicators Cs in both FR & BL. You then need 50% of available BCs in the remainder.

In the elective you just need sufficiency, so BCs the whole way will get you home. That's why those with BCs in the elective shouldn't worry too much.

There's some great examples on that link of what a pass is and what a fail is.

Hi ACA,

thanks. I was aware of that marking scheme alright, my question was around the interim itself.

So for audit for example, there was 3 "issues" we'll call them in that paper. There is no indication of how to get a C based on these issues whether a C in 2 of them and and a BC in the third or how that break down worked.
That's my main issue really. There is really a lack of communication in relation to this kind of thing and you are left guessing which is unfair on students who are under enough pressure as it is. But that's the nature of the beast I suppose

superb choice of username

Obrieski wrote: »

I did audit and got BC overall, which I was a bit disappointed with, especially coming out of the exam I thought I had tackled the 3 points well.

Looked at sample solution last night and felt even more hard done by, especially as I had made a reasonable attempt at the planning agenda also which the examiner said was main difference between C and BC. I definitely got most if not all the risks and responses.

Masterxd wrote:

Felt the same as you obrieski got a BC too thought I would of got a C even after looking at examiners report. Found the report pretty useless, the difference between a C and BC being identifies "a good number" to "some".

I'm in the same boat. Pretty disappointing result. Not too happy that we are not allowed to get feedback/contest the result. Not sure is the best to do now - just forget about it / email cassi / email CAI?

I'd be pretty raging if fail the elective by two points....

Just hope that they will take it into consideration if borderline fail at the time of the final results.

On a side note, anyone heard anything about the CASSI report to the exam? No sign of it yet...

TDky

Hi Everyone, I'm a Core repeater... Could you please post the mock exams? How did they go?

JoanH

Hi all,
Could somebody post up the Tax reference material for the Core paper 2016. I'm a repeater and I don't have access to any of the updated tax info. Sincere thanks in advance.

myshirt

Can someone post the stats of C's, BC's, NC's, etc?

And also the papers and suggested solutions?

TitianGerm

Folks I'm not sure if this is the correct place to post or start a new thread but I assume someone here might know the answer.

I've been following this thread all year and currently repeating Tax and FR at CAP2 level. At the moment I'm considering switching over to ACCA after I pass these two exams because I'm not a fan of the marking scheme for FAE with ACA and I find it to lack transparency (maybe I'm wrong here), something which the Institute is always harping on about.

I'm just wondering does anyone know what exams would a ACA student need to do if they switched over to ACCA after completing CAP2 at ACA?

Uncle Mclovin

Got an email today from the FAE team saying the solutions to the mocks were in the student portal but I can't find them.

Can anyone see them?

The chartered accountants website is rubbish.

Squareball2010

Uncle Mclovin wrote: »

Got an email today from the FAE team saying the solutions to the mocks were in the student portal but I can't find them.

Can anyone see them?

The chartered accountants website is rubbish.

They're there alright - way down the bottom of "Notes" tab within Course materials & timetables

bigmc23

emmetkenny wrote:

I'm just wondering does anyone know what exams would a ACA student need to do if they switched over to ACCA after completing CAP2 at ACA?

Well Emmet. Did a the cap2 fr paper today (3rd time) and will prob jump to acca when I pass it. From my research (just been browsing) after the CAP2 you'd start at the professinal papers with acca.

TitianGerm

bigmc23 wrote: »

Well Emmet. Did a the cap2 fr paper today (3rd time) and will prob jump to acca when I pass it. From my research (just been browsing) after the CAP2 you'd start at the professinal papers with acca.

Thanks for that Bigmc, that's what I gathered as well but no harm in getting a second opinion.

Yea repeating for the third time as well (Third year as well because in missed one sitting each time). Failed first time out with 48 and second time with 46

Today's paper was fair enough but as usual I ran out of time and didn't get to do Part C in Q1 or all of Issue 3 in Q3 done so will miss out on 12-15 marks straight away so could be at it again in October.

donnem33

Squareball2010 wrote: »

They're there alright - way down the bottom of "Notes" tab within Course materials & timetables

is the elective solution there too? i can only find a document with guidance on fae 2016 mock exam results

Kylio7

Hi. Attempting to do the Rotait cross marking question. Would anyone be able to explain where the 25,760 figure comes from in relation to Design Staff in the contribution per limiting factor indicator?

Rusty91

Hey,

Could someone clarify if IFRS 15 is applicable?IAS 11 and 18 are on the planning and delivery schedule but IFRS 15 is the new standard. Not sure which one I should be using

Thanks in advance

superb choice of username

Rusty91 wrote: »

Hey,

Could someone clarify if IFRS 15 is applicable?IAS 11 and 18 are on the planning and delivery schedule but IFRS 15 is the new standard. Not sure which one I should be using

Thanks in advance

The planning and delivery schedule prevails.

IFRS15 is only effective from 1st Jan 2018 anyway..

Uncle Mclovin

superb choice of username wrote: »

The planning and delivery schedule prevails.

IFRS15 is only effective from 1st Jan 2018 anyway..

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

FrStone

Uncle Mclovin wrote: »

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

It's that the cases book? If it is I saw that, it caused me a bit of confusion alright.

Uncle Mclovin

FrStone wrote: »

It's that the cases book? If it is I saw that, it caused me a bit of confusion alright.

Ya thats the one. I find the cases are good other than that though.

anthonygoodman

Has a FAE 2016 cheat sheet been produced yet?

TDky

HI Everyone, I'm just wondering how long are the people repeating taking for study leave?

Lyra Fangs

Uncle Mclovin wrote: »

I have the 4th edition of Derry Cotters book and it uses IFRS 15 but we are being examined on IAS 11 and IAS 18. Doesn't make much sense really especially when the standard isn't effective until 2018.

Just FYI, IFRS 15 was examinable for cap 2 this year despite not yet being in operation. Might be something to clarify with your lecturer.

Garrigai

IFRS15 is not in the competency statement

superb choice of username

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

Kevint30

superb choice of username wrote: »

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

You got the results already?

superb choice of username

Kevint30 wrote: »

You got the results already?

Yes, they are in the scripts available for collection yesterday!

PunkFreud

superb choice of username wrote: »

How did you's do in the mocks?

Only real one I analysed was the audit elective - only ended up with 25% overall, no C's...

Haven't really looked into the core, but few BC's and two or so C's. I think probably 40% but didn't look at the other tests.

But overall, the feedback and the way they gave it was good! Was glad I could read their writing...

Edit:

But dunno if I have really improved that much since mocks to do any better

I failed by a long way on sufficiency, but thought they were marked quite hard. I did shocking in BL, so I know I need to focus on that a lot more over the next 5 weeks. There's still a lot of time to push up the grades.

Feedback in each paper is super useful. I liked how a different lecturer marked each script, so we get x3 different points of view for Core.

They should give me the kick up the arse I need, to motivate me in the home stretch of study leave!