FAE Battlepass 2018/19

Nov 01, 2018
You might have the qualities that helped you in the CAP 2, and the correct approach to succeeding in the FAE exams but it’s time for a new skillset.

WORDS BY JOHN MUNNELLY

The online gaming phenomenon Fortnite requires players to match their defensive abilities with their attacking qualities. To be successful, players are required to be creative builders as well as showing the right attacking qualities when faced with opposition. The creativity needed to play this game is what differentiates this hugely successful multi-player shoot ‘em up from its competition.

Welcome to the Final Admitting Examinations! (Not Fortnite, sorry.) You have successfully navigated CAP 2 and you are now in your new season – Battle Pass for FAE. 

Like Fortnite, FAE does require a new skillset. In CAP 2, learning is on a subject-by-subject basis. In FAE, candidates need to demonstrate competence across a mix of subject areas. You are no longer presented with a linear set of requirements at the end of a question; in FAE, questions are replaced by case studies that illustrate a back-story, so the requirements are woven into the narrative. There is no quick way to build up your skill in answering this style of examining other than through practice. 

Where to start

As written previously in the September issue of Accountancy Ireland Extra, a great place to start is with the FAE Committee report. This report provides fresh insights into the most recent sitting of the FAE examinations. This year, the Committee has chosen to explore some of the areas where candidates performed well in the August 2018 FAE exam, as well as commenting on areas that still need improving. This report is essential reading for any candidate who is serious about building a solid skill set for FAE success. 

What to do 

Candidates should begin by forming a study plan, especially in light of the fact that the FAE Interim Assessment (AAFRP) is less than six weeks away. The AAFRP carries a considerable weighting of 15% towards a candidate’s final mark in the Core-suite next August 2019. Candidates should review back issues of Accountancy Ireland Extra to see the previous commentary by the examiner on AAFRP sittings. 

Candidates should expect to be examined on a wide-range of accounting standards over the 11 questions on the AAFRP paper. Attention should be paid to previous examiner reports in which areas of particular exam weakness have been highlighted. These areas of weakness are always of interest to the examiner.

Candidates are reminded not to get fixated on making the correct journal – credit is awarded for partially correct answers and, as such, it is important to provide clear, labelled workings. There will be ample opportunities to achieve good marks within each of the exam questions, and so it’s vital that the 130 available minutes are managed properly to ensure all parts of the exam are attempted.

After AAFRP

After the AAFRP, candidates should focus their attention on the Elective Interim Assessment in April 2019. The competency statement 2018/2019 will provide specific guidance on what topic areas are examinable for each elective. Candidates are advised to start as early as possible to become familiar with the material. This will give a solid base from which candidates can hone their exam technique.

As it has been said in previous articles: it is no coincidence that the candidates who placed in this years’ FAE top 10 all began their FAE studies early and attended all lectures where possible. Many of these candidates focused on covering material before lectures so they could use the lecture to deepen their understanding of any problem areas.  All candidates in the top 10 spent time on perfecting exam techniques, giving themselves the best possible chance of success. If it worked for them, it can work for you. 

I wish you the best of luck in your studies.