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@ayush006 – you’re on the right track with studying the material. I’m hoping you also use the OT lectures? Personally that helped me tremendously.
Also, may I suggest getting an up to date practice and revision kit (either BPP or Kaplan) and work through ALL the questions, even more than once.
Personally I looked at the question and answer at the same time, and then typed out the answers simply in my own words. I found that helped me to remember certain points, logically approach calculations and ultimately gauge how the examiner expects questions to be answered. This may help with AA in your case, where you can see how the examiner requires answers to be set out.
I hope this helps. Never give up, you’re on the path to gaining a world class qualification!
If you refer to the survey that Kim Smith has recommended, you will see that F7 and F8 (FR and AA) are the most popular combination. IMO this may be because FR is more a ‘calculation-intense’ exam, while AA is a lot of theoretical application (written elements). This may offer a better balance for you, rather than doing two calculation-based exams (FR and FM).
Of course it’s possible to do any combination; the above is just a recommendation.
To complete it in 3 months – that’s heavily dependent on how much you already know and how quickly you can grasp both subjects. I suggest browsing through the syllabus to get a feel for each subject and then make the choice for yourself. Best to start studying asap.
For materials, I’ll recommend the exact materials that I used for these exams:
– the OT lectures and notes (helps you grasp calculation methods and to understand topics)
– up-to-date BPP practice and revision kit (to apply what you’ve learnt in exam-standard questions)@samono – yes in addition to the proctor watching you, they have an AI software that tracks your movements, so by looking around, the software may flag it as an ‘irregularity’. Keep your eyes at your screen and keyboard (there’s really no other place you should be looking anyway). You wouldn’t want to jeopardize your chances of passing by a mistake like this.
@marlk – sure it’s a recommendation, but as Kim mentioned, it may impact your exam performance, especially strategic professional exams. By now, though, I’m sure you’ve already been practicing on the screen that you intend to use for the exam, so you’ll have a fair idea of what it will look like.
Hey Steven,
You don’t need to work for one of the Big 4 in order to progress in your career and even become CFO someday. It’s certainly possible with the ACCA qualification to move up the ranks, but what’s more important is the quality of your work. Showing that you add value to your company can boost your chances of success. In addition, if you go on to earn an MBA, you will more likely be selected to fulfil management roles.
Again, education is one thing, but demonstrating your skills in the workplace will make a huge difference. Fortunately, you love the accounting field, so this shouldn’t be a problem for you.
Here’s a very good article from ACCA on this topic: https://yourfuture.accaglobal.com/global/en/blog/steps-to-becoming-a-CFO.html
Glad to hear 🙂 looking forward to you receiving a pass mark this time around. Keep practicing as many questions as possible. You’ve got this.
Hey Hinaa,
Your persistence is commendable and is exactly what you need to pass this exam.
There are many videos on the ACCA website regarding CBEs, but I’ll give you what helped me the most.
1) Copy the requirement and paste it on to your response sheet (word processor or spreadsheet). That way you can remind yourself of the requirement in case you start deviating from it while you’re typing your answer.
2) Be careful of formulas on the spreadsheet. It’s not exactly like Excel. Particularly if you’re copying and pasting formulas, please double check to ensure your formulas are still correct and summing up the correct cells.
3) There will be some back and forth between the scenario and response. However, the requirement is split into smaller exhibits. You can set these up on your screen as you are answering that part, and close it when you’re on to the next requirement. Don’t keep everything open if it’s not necessary.
4) Use the correct response areas. For reports and discussion, use the word processor. For calculations and appendices, use the spreadsheet. Any interpretations or conclusions from your calculations must be done on the word processor (not the spreadsheet).
5) Remember to reference your work. For question 1, make sure you reference your comments from the word processor to the appendices that you’ll create on the spreadsheet, so the marker knows what you’re referring to.
6) If you make a mistake or get lost in your calculations, and if you don’t have time to fix it, leave your answer as it is. For example if you calculated cost of capital at 12% but you think you made a mistake, continue to use 12% in your calculations. You may lose a mark for getting 12% but you’ll still gain full marks for the rest of the requirements if you use it consistently.
Personally I think NPV questions are much easier on CBE than on paper, since it’s more flexible and easier to lay it out on the spreadsheet. Remember to include a recommendation and discussion of your figures (if required) on the word processor.
I hope this helps.
Hi Ewa! It is entirely possible to prepare for both FA and MA, but this really depends on how much knowledge of financial and management accounting you already have. If you have good background knowledge, you should be able to do it. And it also depends on your passion to learn and dedicate plenty of time to study.
Check out this link to the ACCA site with further assistance on attempting your applied knowledge exams: https://www.accaglobal.com/in/en/student/exam-support-resources/fundamentals-exams-study-resources/f2/technical-articles/how-to-prepare-for-knowledge-module-exams.html
All the best!
Hi Vicky1117, the seven year rule applies from when you pass your first strategic professional exam.
So if you passed a strategic professional (or professional level) exam in Dec 2013, it will expire in Dec 2020, after which you will need to retake the exam if you are not yet an affiliate or member.
Here is the link to the ACCA site regarding this: https://www.accaglobal.com/gb/en/student/getting-started/rules-and-regulations-for-students/time-limits.html
@SimKaur24 – the advantage of CBEs, especially for AFM, is that you gain part marks for your workings. On a CBE (and remote exam), you’re given a ‘scratch pad’ on the software where you can type your rough workings.
However, I would strongly recommend doing all workings on the response area instead (the spreadsheet) because this spreadsheet will be marked. You would save a lot of time, instead of typing it on your scratch pad and then copying it to your response area. I personally don’t see a need for the scratch pad in AFM, unless it’s something you don’t want the marker to see. Of course you’d want them to see all your workings so you maximise the amount of marks you can get.
@vw0845528
You only fail when you give up, and you’re not giving up. So those 2 attempts are stepping stones to your next success. Perhaps you could look at what you could have done a bit differently.I would suggest getting a BPP Revision Kit and attempting ALL the questions (there’s about 58 for AFM, do them all multiple times if necessary). Even if you read the question and the answer at the same time, write out the answer in your own words. That way you will get an idea of how questions are asked and how you’re expected to answer it in the exam. It really helps so much. Relying on theory alone is dangerous. You’ve got this!
@chioma12345678
Click on ACCA and you can select a subject (e.g. AFM) then click on “watch all AFM lectures”. Be sure to download the notes that accompany it as well, it’s on the same page. Hope this helps.@rishitesh I would not recommend an administrative review, as it is not a remarking service. ACCA has said that rigorous processes are followed when marking and special attention given to marks in the late 40s to early 50s. It would be a waste of money.
However, well done for being brave enough to attempt the December exam, and that in itself is an inspiration to fellow students. I recommend watching all OT lectures, attempting all question in a BPP revision kit and watching the OT lectures again. I am confident you will get this.
@shamany I am confident you will pass next time. May I also suggest watching Mr Moffat’s review lectures where he attempts past papers and you will see how he approaches small parts of a question at a time, so it’s not “overwhelming” during the exam. And don’t try to get everything right. If you can’t remember how to calculate something, try your best and move on. You will still get part marks for your approach.
@shamany don’t worry, on my first attempt at AFM in 2018 I scored 23 believe it or not. I would recommend watching the OT lectures and attempting all practice questions in a BPP or Kaplan kit (I use BPP). Then, watch the lectures again and certain things start making more sense. Mr Moffat is an excellent teacher.
Truly grateful that I passed AFM and now finally an affiliate. I think the majority of my marks came from the 50-mark APV question.
My advice is, don’t get stumbled if you’re unsure of how to calculate something. Take it one step at a time and you will get part marks for approach, even if your answer is wrong. As Mr Moffat says, you won’t lose marks twice so even if you make a mistake, you may lose a mark but be consistent and you’ll score full marks the rest of the way.
Hi everyone, particularly those that wrote their last exam in December. PLEASE stop speculating about the e-mails, etc. As @Kim Smith has mentioned countless times, they do not mean anything. I myself am an affiliate-hopeful, and I think the speculation is causing unnecessary anxiety. Let’s be happy that we were brave enough to attempt the December exam, regardless of the result right now. Nothing that we say or do right now can influence the result, so as Kim says, let’s share some advice to our fellow students, and which has been the most interesting strategic paper.
Here’s one of mine. I found SBL in Dec 2019 to be interesting. I followed the advice to spend the first hour preparing my answer on my answer book (still on paper at the time), which felt like I was wasting time, but it really helped a lot. That paper required a lot of practical thinking and common sense, and I am grateful that I passed it on my first attempt. I’m certain this 1 hour planning time was definitely the key. Those 4 hours goes by real quick!
@chally – I think the scenario said the price will inflate by the country’s inflation rate of 3% for the first 2 years, then 2% per year thereafter. Also, the number of customers (subscribers) will increase by 2% per year.
I found the paper quite difficult this time around,
From what I remember:
Question 1 – APV calculation, including determining a cost of capital
Question 2 – selling off a division that has been experiencing trouble and focusing on the core business
Question 3 – interest rate collars and swaps.Question 1 was quite straightforward, an NPV and APV calculation. Also a calculation of a suitable cost of capital. The company, who was focusing on radio was deciding to expand into music streaming, which was the project.
Question 2, in my opinion, was a real problem. There was a question about proving that the cost of equity is 11%, wasn’t sure how to approach that. I think I got 12%, but showed all workings regardless. Also asked about the difference between a demerger and divestment, if I remember correctly.
Question 3 was very unlike any of the past papers, which had futures, options, etc. It asked about the %’s in the collars and swaps, and maybe I misread it, but the borrowing was for 3 years? It also had a lot of discussion (about 11 marks I think).
I would certainly recommend the lectures and notes on OpenTuition. The lecturers explain things well and lean towards helping with points to pass the exams (which is of course what we’re trying to do). It’s certainly quicker than reading loads of information in study texts.
I’ve used BPP and Kaplan, and both are good, but very comprehensive. So I would suggest using OpenTuition to get through the syllabus, while using the Kaplan study text to gain more depth into a topic that you might feel you need more understanding.
Also, very importantly, a BPP or Kaplan practice and revision kit is still strongly recommended, even if you’re using OT. It’ll help you grasp the standard of the exam. The lecturers themselves recommend this as well.
All the best on your ACCA journey!
Not everyone can access your results, however ACCA does share such information with learning providers. I’m not sure if they share the actual result or whether it was a ‘pass’ or ‘fail.
Their site, under data protection, says:
“Certain information, such as your name and examination results, will be shared with employers and learning providers who receive this service, subject to obtaining your consent.”“Some learning providers subscribe to an ACCA ‘results service’ under which they may access examination results of the students they have trained in order to monitor their pass rate performance. Your learning provider is required to inform you separately if they use your data in this way. Other learning providers may be provided with your student results, where you have given them your consent to do so.”
@sunshine24 and @alice22:
Firstly, the fact that you’ve attempted these challenging exams highlights your passion for the accounting profession. Remember, ACCA is a world-class qualification, so it will take a lot out of us to pass all the exams, but once we do, the doors of opportunity will open (and remain open) to us.Please don’t make hasty decisions for December, rather let the disappointment ease a bit and you can focus better on what to do. As a full-time student, you may be able to attempt both AAA and AFM, but may I suggest starting with one for now, and when things have calmed down, then decide whether you can manage both.
After watching all lectures on OT, I beg that you please attempt all questions in a practice and revision kit (BPP or Kaplan) – this is so essential for all subjects. Some students fail 7 or 8 times (I myself failed TX about 5 times before passing). But letting it effect us emotionally only sets us back.
So, don’t kick yourself over it. Don’t be tired or disappointed. Be energised and determined to progress through this world-class qualification and look at the eventual reward. Take a fresh approach to studying for your next exam. I’ll be joining you both in the December session (although not physically) and we will all pass this time around! 🙂 You got this!
If you’ve completed the foundation level, you would receive the ACCA Advanced diploma in Accounting and business, provided you’ve completed the Ethics module as well. I believe you can show this achievement of the advanced diploma on your resume.
It seems to be working now, though a bit slow. Once you click log in, you may need to wait about 10 seconds before it logs you in. Hope you are having the same success. Thanks.
Hey, I think remote exams do have their benefits, such as attempting the exam in a comfortable environment, using a computer setup that you are familiar with (keyboard, mouse and screen especially), and no stress of traveling and arriving at the venue on time.
My opinion is, I don’t think the location should be a deciding factor, especially since both are computer based (if you compared paper vs CBE, then that’s a different story, it will definitely impact your approach). It would help to know where you will be attempting the exam, but I don’t think its necessary to put your studies on hold purely because you’re unsure of the venue. Just my opinion.
I’m certain you will pass AAA on your next attempt!
