Completely overwhelmed with ICAS

Mollypod88

I'm so confused by ICAS it's unreal! I'm a Kaplan distance learner and my tutors have said to base it on my workplace (accounts payable) as the case study is so difficult. But I just don't have any ideas what is needed? I've got one idea but I don't know if it's relevent. Can I write ideas on the forum? I just need to know if I'm heading in the right direction? :crying:

Spamkebab

Hi Molly

I am doing the case study with Kaplan distance and really struggling myself. I have received feedback off my first draft but none of the assessors comments make any sense to me. I thought Financial Performance and Statements were going to be hard but they were easy peasy compared to this.

i know this doesn't help you, i just wanted to point out that you are not alone.

If you do post your ideas on here remember to make sure you are not posting any information regarding your firm.

Good luck,

Neil.

Whirlwind

I felt like I was drowning with the amount of info this unit required - even had to get stronger glasses because of the eye-strain!! So, as Spamkebab says, you are definitely not alone.

BPP workbook and emails seemed to suggest focusing on payables, receivables or payroll - so it was a choice of three. Then I listed all the weaknesses within these three and then decided which I felt most comfortable I investigate and write about.

Hope this helps - but without the forum I would have been lost!!

Spamkebab

I think this project is where it would be nice to be in college, with other students to discuss with.

I know this forum and the members are a huge help but things get lost in translation via chat. A few examples of real world stuff would come in handy. I have never had to write anything like this in my life, nor have i ever had access to a report written by someone or something that i understand.

I just keep plugging away at it.

Neil.

janwal

Non of you need beat yourselves up about this, I tried to do work based...no success. Now I am doing one of the case studies, my first draft is due 18th Feb and I have not managed a word yet. I do go to college but we are all in the same position where do we start and to be honest our tutor has not been much help and she finishes this week until April, only works part time. Going to try and get my head round it this weekend.

anniebabe

Ive been putting this one off for a while now too, will have to do a scenario as well
Got my FNST exam in April, which is my last exam - so will need to make a start on my project soon.
Is anyone going to the ICAS event at Icount Manchester next month? Ive put my name down.

Whirlwind

Hi Janwal and Anniebabe,

Who are you studying ICAS with?

anniebabe

Hi Whirlwind, I havent paid to do it yet. I have a couple of text books tho.
Registered with my local college to do FNST.

Whirlwind

I would definitely recommend BPP. They provided a good workbook and excellent tutor support.

The workbook had chapters that gave specific guidance on what each section should cover. For example, Section 6 The Accounting System, 6.1 Overview of current system; 6.1.1 General Review; 6.2 Written summary - SWOT in appendices; 6.3 Current controls; 6.4 Adequate manuals; ....

I started by typing up all the guidance under the specific section, then made sure each paragraph covered what was being asked.

Im just so happy its all over for me but keep up the good work as it is totally worth it in the end!!

omega man

Janwal-Maybe when one of us is AAT qualified we could move to North Yorkshire and become an AAT tutor,becuase it sure sounds like you need one.

janwal

Good idea, will never study at the local college again, I have had 3 years of being used as guinea pigs for new ways etc and also tutors walking out and don't feel we have got the support we should have, they can't even agree among themselves. The only alternative I had was travelling about 40 miles to Leeds to BPP or Kaplan (wish I'd gone for it know)............oh well rant over, now I just need to try and get through the rest of the year.

janwal

Whirlwind wrote: »

Hi Janwal and Anniebabe,

Who are you studying ICAS with?

I am using the BPP books and doing the course through my local college.

Whirlwind

Hello again!!

Do you have the workbook, with all the guidance sections? The tutor got us to write up the sections in this order: 4 Intro to Organisation, 5 The Accounts Dept, 6 The Accounting Sys (specific section you covering) .... I found that this was a clever way as this is really the body of the report so should have the most info/words. With sections 1-3 being the intro to the report and 7&8 being the conclusion of findings.

You must keep positive and not panic too much!! You can, and will, do this!!

janwal

I am determined to make a start this weekend so hope some of you will be around if I scream

Whirlwind

Thats what the forum is for!!

Take care!!

Mollypod88

Glad to see I'm not the only one. I've had a think overnight and decided not to do the project on my work place. There's just no way I could answer the questions on the report plan. So my next question is 'Is the case study really that bad?'

I'm currently studying FNPF so once that's done I will start Credit Management and ICAS together

Spamkebab

The good thing about the case study is that you don't have to collect the information, it is all given to you.

Figuring out what you are going to write your report about and the layout and mapping etc. is a different matter.

Neil.

Malcolm Green

ICAS Help

Hi Molly,

The hardest part with the ICAS project is starting it.

4,000 words is nothing to worry about, once you get in to it you will be more concerned about keeping it within these limits.

All down to motivation and how you treat it.

If this is all new to you just treat it as a long essay with set headings to work around and a set number of points you will need to cover. (that the mapping).

Have a look at the following attachment and links to see if these help get you started.

Attachment not found.Attachment not found.

https://services.aat.org.uk/myaat/pa_lsb/
https://services.aat.org.uk/elearn/

https://services.aat.org.uk/myaat/guidance_standards/

https://services.aat.org.uk/myaat/qualification

If you are doing your project in your workplace, start off by looking at who does what and why, what systems/processes are used and why also what are the benefits of this to the business/department and why do they do it or need/are required to do it etc.

Then looking at the systems and processes currently used think about what improvements could be made this will then help you identify any potential weaknesses.

Once you have this in place you can then build your findings and recommendations for the business ie what is needed covering both systems/processes and training and what this will all cost (CBA).

You should also consider areas for potential fraud and be aware of the internal controls that are in place or should be in place to help protect the business.

For this you can explain how an accounting system can support internal controls for managing Fraud.

Examples:
–Claiming for expenses not incurred
–Fictitious invoices/receipts
–Theft of inventory/stock /materials

These points alone should give you a good general foundation for you to build on for your project.

I trust this information will be of assistance.

sampson

Has anyone passed this unit on the first attempt? It seems like most students are having to resubmit their projects, which I'm not looking forward to given the amount of times I've reviewed and made amendments to it.

janwal

I think it is very rare to only submit once, this is the idea you can submit upto 5 times doing amenments to get it right and hopefully pass.

omega man

According to info i have you can only submit 3 times.Thats 3 strikes and you are out and have to start a fresh case study,plus you get an extra 2 months so 6 months total,4 months for 1st submission and 2 more for 2 further submissions.
You only get more chances with a work place study.

Mollypod88

Thanks Malcolm this is great!

anniebabe

Cant decide whether to leave my ICAS till after ive sat FNST or to start it soon - my exam isnt till April.
FNST is my last exam.
Any advice much appreciated.

janwal

My opinion is wait, I downloaded mine before the FNST exam and now I'm struggling as so much to learn for exam, didn't have time to do it and first draft due 17th Feb

Jan

anniebabe

Hi Janwal.
Thats what I was thinking, but then I may not be able to do it with the college I am registered with - my FNST exam isnt till 29th April, I think term ends around 15th July.
Will have to speak to them about it, the only other way would be to use BPP or Kaplan.
Are you going to the Manchester branch ICAS event at Icount?

guinea pig

Hi Anniebabe,
I thought I would find it too confusing and stressful to concetrate on ICAS at the same time as another subject, and managed to do ICAS in the break between levels 3 and 4.
Could you do a little bit of preparation whilst still working on FNST e.g. read the text book (I used Osborne which was good) and make sure that you understand a SWOT report, organisation chart, mapping etc, then time applying for ICAS so its ready to start just as you finish FNST.
And don't panic about it - as Malcolm says "The hardest part with the ICAS project is starting it."
I actually enjoyed this unit (ok -maybe I need to get out more!) and once I got over the first hurdle of worrying about it, and familiarised myself with the scenario (Inkwell) it fell into place quite well.
Good luck,
GP

anniebabe

Hi GP
Yes, I could do that, I already have a text book here.
Cant put off doing the project for much longer. Wanted to have a go at ACCA from September - so need to get my finger out.
I can honestly say I am really not looking forward to the project, like others I have never attempted anything like it before.

janwal

Hi Anniebabe

Unfortunately Manchester is too far for me to travel to, find it really hard to attend branch meetings as not any locally.

Jan

Stashy

I submitted my first ICAS report on the 10th Jan so I'm awaiting the results. I heard nobody passes first time though, it's over 5000 words so not sure how it'll be received. I found the plan the trickiest part but I put as much detail as possible in and the report was basically copying and pasting from the plan.

It'll also be 6 weeks tomorrow since I took my PTX and I still haven't heard so they'll both come back about the same time. Hate the waiting game!

Stashy

Shocked - First upload and passed it! :ohmy: Well, based on internal verification but my assessor reckons it's competent so I'm happy with that.

Might struggle with internal verification due to the fact I had over 5000 words but as it's work based there's not much I can do about it.

I found the secret to it is to have as much detail in the plan as possible.

Good luck to everyone else currently doing this, I felt happier with this result than when I pass exams, it's so much hard work but nice when it pays off.

Spamkebab

Stashy, you are my hero! lol.

Congrats on passing first time, that is quite an achievement.

I'm waiting for my second draft to be assessed, although i am already picking holes in it myself.

Neil.