FAE 2018

Mckay66

I was sent an email on the 15th December with a Core Tax ROI Assignment attached (Versatile Imaging Ltd). It's not a mandatory assignment but is there to help you with your studies and obtain feedback. It's due to be submitted on the 11 January.
I'm doing the Galway FAE Distance not sure if this makes any difference?

fishy_fishy

Mckay66 wrote: »

I was sent an email on the 15th December with a Core Tax ROI Assignment attached (Versatile Imaging Ltd). It's not a mandatory assignment but is there to help you with your studies and obtain feedback. It's due to be submitted on the 11 January.
I'm doing the Galway FAE Distance not sure if this makes any difference?

I'm going to guess it's a distance thing. I've been on block release (Dublin) all week and nobody mentioned a thing about a tax assignment, but we were talking about cross marking workshop.

The J Stands for Jay

fishy_fishy wrote: »

I'm going to guess it's a distance thing. I've been on block release (Dublin) all week and nobody mentioned a thing about a tax assignment, but we were talking about cross marking workshop.

What did hey say about the cross marking workshop?

fishy_fishy

McGaggs wrote: »

What did hey say about the cross marking workshop?

Need to have read the case ahead of time but no need to prepare anything

https://www.charteredaccountants.ie/docs/default-source/Students/201718/fae/subject-materials/sanctuary-hotels-question.pdf?sfvrsn=4

The J Stands for Jay

fishy_fishy wrote: »

Need to have read the case ahead of time but no need to prepare anything

https://www.charteredaccountants.ie/docs/default-source/Students/201718/fae/subject-materials/sanctuary-hotels-question.pdf?sfvrsn=4

I'm getting a bit annoyed about the lack of communication in getting this year, and how bad the new website is.

OttoPilot

McGaggs wrote: »

I'm getting a bit annoyed about the lack of communication in getting this year, and how bad the new website is.

It's been like this for years. I used to be involved in the student society side of things years ago and even back then the communication/organization was known to be an issue.

However, I will say that I know Bogdan from UCD that they have hired as FAE head coordinator is quite good, hopefully he can implement change for future students. Also the website is getting better, even if the CA diary is still dog****.

Brownbread88

Hi all, just a general inquiry on how people are approaching studying for the core! I’m hoping to take a slow and steady approach and hopefully chalk down a small amount every week from here until study leave (hopefully!!). Only problem is I have no idea where to start....

Are people taking it subject by subject and going through CAP2/CAP1(where applicable) material? Or is it best to go straight into some case studies? There’s some CAP1 stuff I haven’t seen since college, but feel it possibly might not be the best utilization of time going through this?

Any advice or ideas other people have would be gladly welcomed! Thanks in advance

ACAguy

I would agree with everyone that the communication ahead of lectures and In general is awful. I would not have had a clue about that case study for the cross marking work shop.
I'm assuming everyone in groups B & C do not have this tax assignment and that's just distance. 
I haven't done Tax or audit in the last 2 years so I will be spending my next few weeks going over this.
I Definitely think a facebook group would be a good idea for anyone interested.
For anyone in group B was block release good? What is everyones general plan of action over the next 8 weeks or so. As by time march comes everyone will just focus on elective for a month.

dublinjen

Brownbread88 wrote: »

Hi all, just a general inquiry on how people are approaching studying for the core! I’m hoping to take a slow and steady approach and hopefully chalk down a small amount every week from here until study leave (hopefully!!). Only problem is I have no idea where to start....

Are people taking it subject by subject and going through CAP2/CAP1(where applicable) material? Or is it best to go straight into some case studies? There’s some CAP1 stuff I haven’t seen since college, but feel it possibly might not be the best utilization of time going through this?

Any advice or ideas other people have would be gladly welcomed! Thanks in advance

I'm going to assume you dont work in audit, time to study seems like something very intangible right now...

I would say like all these exams I'll start with exam papers, as i come across topics i dont feel too strong on i'll brush up on the material and then revert back to attempt the paper. Worked for me so far but i would say it's very personal...my biggest tip is these exams seem far more about marking schemes than what you know. If you have the format, tone, and be generally close to the answer you'll probably be fine. If you throw down a heap of material spewed out of a book with minimal reference to the cases presented you'll bomb.

ACAguy

Hi Everyone

I am just catching up on audit lectures at the moment and I am just wondering what text everyone got delivered to them with their book

I dont have the Martin Nolan book revised version or the Addendum so where could I obtain one?

I also don't have IAASA Ethical & Auditing Standards 2017 (ROI);Can this be printed off the IAASA website or do we have to get one off CAI.

I have emailed them twice to no reply they are no unhelpful

Reply would be appreciated. THanks

tanit

ACAguy wrote: »

Hi Everyone

I am just catching up on audit lectures at the moment and I am just wondering what text everyone got delivered to them with their book

I dont have the Martin Nolan book revised version or the Addendum so where could I obtain one?

I also don't have IAASA Ethical & Auditing Standards 2017 (ROI);Can this be printed off the IAASA website or do we have to get one off CAI.

I have emailed them twice to no reply they are no unhelpful

Reply would be appreciated. THanks

Only people in Dublin got the new book with the updated IAASA standards and maybe a few others outside Dublin. Everyone else I know had to email them about the new books for audit to get them (except for a couple of people). If you have emailed them twice and they haven't answered I recommend you to put your student number on the subject line and forward those emails along with a new request to both:

Ian.Roe@charteredaccountants.ie
and
Kelda.Lewis@charteredaccountants.ie

If that doesn't work copy and paste the emails in here to give it more exposure. This year the organisation of the whole thing has been terrible

There are more contact emails and details in this page Support and Services

ACAguy

Hi Banit,

thanks for the reply.

I was wondering why there was no audit books when i received my book.

I just had assumed i would be using the cap 2 audit book but even this isn't the correct version as it is not the revised version. I am in dublin and didnt receive these with my books.

I have emailed them so thank you for that.

I am a bit confused though is there huge changes in audit from last year.

Thanks for the help

Mckay66

Has anyone attempted the Melton Steps Case yet?

ACAguy

No Not yet I am currently arranging my folders across the 6 headings for the CORE and catching up on lectures missed. How much work are people doing weekly at the moment? Does anyone have any interest in a facebook page. A lot of reports I have read say working as a group is essential and as I work in industry I feel very isolated from everyone else doing the exams.

Mckay66

Yes definitely. I am also doing these exams alone and feel it would be beneficial when attempting these case studies etc that we're able to discuss and hear other students opinions on the topics/ indicators as well. Perhaps picking up things we wouldn't have thought of if doing them alone. Even when it comes to setting up the folders, I am not really to sure what is the best approach.

fishy_fishy

Did 2 of the indicators from Melton as a group. It'll be interesting to see the solution. Working as a group is definitely beneficial for the cases. I think it teases more out of it.

Mckay66

Does anyone know whether the STEPS cases are graded/ compulsory? Struggling coming up with an answer for the first indicator, and not really sure about my answer with the other two so I'm thinking of just not submitting this one as I don't feel it will be very beneficial to me. I'll still attempt it myself before I look at the solution but just not submit it for correction.

ACAguy

No They are not marked. The solution goes up in a couple of days along with a recording. They suggested you do it in a group but i'm in industry so will probably have to do it alone. Have not started it yet as i'm organising folders and going over cap 2 material. Would love to know how everyone else is getting on

Almostthere_17

So I have failed the audit twice and have left practice.... Took a year off exams last year and I am back now signed up for APM....

Didn't get my application in until last Friday and got confirmation yesterday. So I have missed a few lectures.

Have I missed anything important so far?

I need to pass this exam

Mckay66

That's what I was thinking but in the email it said to submit your assignment by the 31st January 2018. Is that just for feedback purposes?
Also, how is everyone going about setting up folders? Are you just setting up the one for the CORE tabbing out each individual subject and one for the elective?

ACAguy

I wouldn't imagine submitting that is too compulsory.

I am making folders for each of the Super 6 for the Core and trying to sub divide them based on topics and just go from there. Each folder will be a different colour to split things up. Have been advised to do so by someone who did the FAE last year.
Still trying to catch up on a couple of lectures missed before christmas.

ACAguy

I wouldn't imagine submitting that is too compulsory.

I am making folders for each of the Super 6 for the Core and trying to sub divide them based on topics and just go from there. Each folder will be a different colour to split things up. Have been advised to do so by someone who did the FAE last year.
Still trying to catch up on a couple of lectures missed before christmas.

thefox1982

Mckay66 wrote: »

That's what I was thinking but in the email it said to submit your assignment by the 31st January 2018. Is that just for feedback purposes?
Also, how is everyone going about setting up folders? Are you just setting up the one for the CORE tabbing out each individual subject and one for the elective?

I think that is just for feedback purposes, although I didn't read the email carefully! Let's hope that that does not happen on the day of the exam.

I have attempted the Melton case and have answered all three indicators. It took way more than the 90 minutes. I am not too worried if my answers vary, as long as I picked up the main points of the indicator. They are practise cases after all to help us get use to this style of question.

In terms of the folders, what I am doing is having two folders that cover the super 6 and then one folder for the elective. These will mainly contain lecture notes, material for each lecture (not the slides, question banks) and any other recommended material, i.e. Irish Annex etc. My plan is that these are really only for back up to refer back to if needed.

I will have notes that will cover the super 6 which will contain past paper questions that were tricky and stuff like that, all indexed and typed so I can find the topic easily that I need. For CAP 1 and CAP 2, I compiled typed and indexed notes on the standards (IAS and ISA) that contained the key elements, tricky parts, calculations and templates. So I will be updating that for FAE. I will than have separate notes on the elective as well.

AtticusFinch86

I sat the FAE last year and any of the Steps cases I submitted were graded (e.g. a HC, C, etc. along with some quick feedback). It gave me a sense of where I was at that point in time. I was a "distance" student, so it's possible only ours were graded.

The Steps cases are probably the best indicator (apart from past papers) of the standard of case you're likely to get in the exam. I'd nearly say they're even better than the mock exams.

ACAguy

How is everyone feeling about the results tomorrow? Much prefer getting them at 10.30 instead of 6am. I presume we will just be getting a percentage out of 15?

shanmo

ACAguy wrote: »

How is everyone feeling about the results tomorrow? Much prefer getting them at 10.30 instead of 6am. I presume we will just be getting a percentage out of 15?

Tbh, I had forgotten they were out tomorrow till I saw this. Now I'm feeling anxious, I don't think I did well and I know how important those extra marks can be. At the same time, I know there is nothing I can do to change the grade so will just be happy to know where I stand.

I assume will get a % out of 15.

ACAguy

Sorry for ruining your day so.

How is your study going in general at the moment.

I would love if there was an FAE group set up on facebook. Think it would be a huge benefit

ACASlayer

I'm sure you'll be fine if you studied. If not you probably need to pick up the slack for the finals. 
Think from the sounds of it some of you really need to get the finger out and pray for a miracle.

shanmo

ACAguy wrote: »

Sorry for ruining your day so.

How is your study going in general at the moment.

I would love if there was an FAE group set up on facebook. Think it would be a huge benefit

You didn't ruin my day I'm actually glad I was reminded, probably better than getting reminded tomorrow by am email when they're out.

Tbh I need to pick up the slack with study. I know the fae requires a lot of work but I find myself lacking in motivation at the moment.
Whst about you?

Ya that could be great. Going by how this helped last last Yr I'd imagine fb to be even better cos it's more active.

Hope your study is going well and good luck tomorrow.

shanmo

ACASlayer wrote: »

I'm sure you'll be fine if you studied. If not you probably need to pick up the slack for the finals. 
Think from the sounds of it some of you really need to get the finger out and pray for a miracle.

You might be an 'ACASlayer' but for some it's more difficult for numerous reasons. I'm sure you don't mean to offend though. Even the best student needs some luck on the day.

ACASlayer

shanmo wrote: »

ACASlayer wrote: »

I'm sure you'll be fine if you studied. If not you probably need to pick up the slack for the finals. 
Think from the sounds of it some of you really need to get the finger out and pray for a miracle.

You might be an 'ACASlayer' but for some it's more difficult for numerous reasons. I'm sure you don't mean to offend though. Even the best student needs some luck on the day.

It’s not about offending or not offending. It’s about truth. And that’s the truth.

People don’t need luck if they’ve done the work. That’s the truth of it. If you’ve done the work, you’ll pass. If you haven’t, you won’t.

Survival of the fittest etc. Good luck tomorrow.

fishy_fishy

I presume they'll be the weighted score, like it was for CAP2. So 50% Will show up as either 7.5% or 75 (depending on whether they're saying it's percentage or marks from 1000)

Nervous ish but not a lot I can do about it. Just want to know how hard I'll be working over study leave!

GoldFour4

they are up now I think?

OttoPilot

malistheman wrote: »

they are up now I think?

Yep, very happy 12.75. So I hope they are marked out of 15 haha

fishy_fishy

Delighted with my results. Can breathe a sigh of relief and definitely taking it handy in work today!! (Also, I was also thinking I really hope they're out of 15, otherwise I failed abysmally haha)

ACASlayer

fishy_fishy wrote: »

Delighted with my results. Can breathe a sigh of relief and definitely taking it handy in work today!! (Also, I was also thinking I really hope they're out of 15, otherwise I failed abysmally haha)

You have to tell us how you’ve done, sounds like you beasted it. Congratulations.

Tuk Tuk Darjeeling

OttoPilot wrote: »

Yep, very happy 12.75. So I hope they are marked out of 15 haha

Congratulations, great result, 12.75% is 85 marks out of 100, serious chops at AAFRP

fishy_fishy

ACASlayer wrote: »

You have to tell us how you’ve done, sounds like you beasted it. Congratulations.

13.8

ACASlayer

fishy_fishy wrote: »

ACASlayer wrote: »

You have to tell us how you’ve done, sounds like you beasted it. Congratulations.

13.8

Congrats. 14.2 myself

Brownbread88

Congrats everyone, some seriously good results here :O

I got a more modest 9.10. Motivation was seriously lacking to study last year so was not expecting much more, but not too disheartened just yet.

Hope everyone else is happy this morning.

fishy_fishy

ACASlayer wrote: »

Congrats. 14.2 myself

Nice one! Wonder what I missed!

The J Stands for Jay

shanmo wrote: »

You might be an 'ACASlayer' but for some it's more difficult for numerous reasons. I'm sure you don't mean to offend though. Even the best student needs some luck on the day.

The most important question on any exam day is: "Do you feel lucky?"

The J Stands for Jay

ACASlayer wrote: »

Congrats. 14.2 myself

Username checks out.

The J Stands for Jay

Brownbread88 wrote: »

Congrats everyone, some seriously good results here :O

I got a more modest 9.10. Motivation was seriously lacking to study last year so was not expecting much more, but not too disheartened just yet.

Hope everyone else is happy this morning.

You beat 7.5 and that's all that matters.

ACAguy

got 7.5 myself. This is the kick up the backside I needed as im not happy with 7.5. It probably didnt help that I didnt start studying until after the Cap2 repeat results in November due to assuming I had failed SFMA.

Has everyone been doing to every lecture or how has your general week to week study been doing? is everyone doing something each night?

fishy_fishy

ACAguy wrote: »

got 7.5 myself. This is the kick up the backside I needed as im not happy with 7.5. It probably didnt help that I didnt start studying until after the Cap2 repeat results in November due to assuming I had failed SFMA.

Has everyone been doing to every lecture or how has your general week to week study been doing? is everyone doing something each night?

I didn't go to lectures much before Christmas so I could focus on the SAFE but I've been going to lectures since. So few lectures compared to last year so not too much of a hassle to just go.

Wouldn't be studying every day though! It's busy season. I'm lucky if I've time to study at the weekends

shanmo

fishy_fishy wrote: »

I didn't go to lectures much before Christmas so I could focus on the SAFE but I've been going to lectures since. So few lectures compared to last year so not too much of a hassle to just go.

Wouldn't be studying every day though! It's busy season. I'm lucky if I've time to study at the weekends

Tbh, after working all day the idea of study is too much! Hence, no I haven't been studying.
I might be nieve but I'm relying on study leave to be enough!
I'm not a robot, none of us are!

fishy_fishy

shanmo wrote: »

Tbh, after working all day the idea of study is too much! Hence, no I haven't been studying.
I might be nieve but I'm relying on study leave to be enough!
I'm not a robot, none of us are!

The only people I know who did study regularly during cap 2 were the same people who burned out and failed. Everyone else waited til study leave and passed...

ACAguy

fishy_fishy wrote: »

The only people I know who did study regularly during cap 2 were the same people who burned out and failed. Everyone else waited til study leave and passed...

Funny you mention burnout as last year that happened to me with cap 2. 4 weeks study leave doing 12 hours a day taking concentration medication and doing nothing else but study and ended up failing both. Day leave for each of the repeats no medication and passed.

Just feel this year that I need to keep tapping away especially with audit and tax as I didn’t do them last year.

fishy_fishy

ACAguy wrote: »

Funny you mention burnout as last year that happened to me with cap 2. 4 weeks study leave doing 12 hours a day taking concentration medication and doing nothing else but study and ended up failing both. Day leave for each of the repeats no medication and passed.

Just feel this year that I need to keep tapping away especially with audit and tax as I didn’t do them last year.

Ah I know what you mean about staying with it, but tbh I've bigger fish to fry at the moment with the elective interim coming up. Need to find the time to study for that properly