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I will answer the last question first. I have experienced this. I got 46 in March and have got 36 in the last 2 sittings. My knowledge has improved greatly over the period but if you do not get a good exam paper you will struggle.
The last 2 sitting have been very tough for me because they did not examine the areas of the syllabus I was prepared for or they asked the question differently than I expected.
I personally do not like Audit Risk- I feel it is to open to interpretation and thus hard to identify and justify answers in the time available. It came up 2 sittings in a row. The new sessions are evolving into a different pattern.
This Xmas should be back to Biz Risks and Romms and is normally also a higher pass rate.The work you put in to learning something will not matter if that subject does not come up. Did this happen to you.
The questions you ask yourself will determine your outcome and or reaction.
Ask what did I do that worked this session?
What did I do that didnt?
Did I cover all the necessary areas (including the ones you hate)?
Can I add value anywhere else.- Reading ISA/IAS’s etc.
Am I covering all my bases? ie. too much book time, not enough exam papers or are you struggling with a fundamental principle behind a topic.
As with everything in life, you need to re assess and re evaluate and grow from all your failures instead of over analysising or dwelling on them.
Passed finally on 5th attempt. So many high fails and some not so high. It is all about persistence and positivity. You learn something new from every session. So glad it is IMO
Ps. I know if you failed there is nothing worse than reading the comments of people who passed but the only way you can really fail is to give up!
Thanks Mike, I understand and yeah I feel the ethics question is really a coin toss in the exams, especially P1 scenarios for that exam.
I had hoped to learn off a few model answers from previous years and see if there was a pattern emerging but its a gray area sadly. Will still allocate a bit of time and see what i find.
Failed again with a 45%. The amount of time and effort I put into these exams I could cure cancer. But on a positive note i am not going to let this get me down. It is time for exam paper review. I need to see where my answers are failing.
Congrats to all that past, and chin up to all that failed. Its not meant to be easy.
Kangmo there are two examiner articles regarding Financial Instruments on the ACCA Website you should read. The Question 3 in Dec was mainly FS so not likely to be a big question again but if you know IAS 39 then time to add IFRS 9 aswell.
Attiiyya I have covered everything at this stage, but the parts i worry on for myself are Income Statement and Financial Instruments and Current Issues.
But feel quite confident otherwise.
Ali, I dont know if that will be enough but at the end of the day you may get lucky in the exam so it might be worth a try. You have paid for it and cant pull out at this stage so I would do it.
Almost Impossible. 13 sessions and 3 cashflows, we are due an income statement im afraid. That is where you should revise
Hi Guys Good luck in Exams. I would focus on the theory questions and ethics. its worth 65 marks of the exam. The group is only worth 35. I focused on Consolidation my first time and only got marks for consolidation.
Exam paper and Theory all the way. Plus exam practice, how fast can you do the questions
Salama there is no NCI for 100% owned Subsidiary. That sounds like you are doing a question from the BPP Textbook, it will have the answer you need. But there can be no minority interest if the company holds 100% of the shares.
He has done it before Ashanti 2010. Lots of horrid workings can be put through, and it hasnt come up for a very long time, we are long overdue. I will spend a few hours anyway refreshing for it. But yeah would not like to see that question.
The first line on each paragraph contains the Tip.
But that post is really more about self evaluation and looking back and analysing your performance during revision and exam performance.
More Questions are always better. If you have the time to do them. 09/11 are some good hard questions if you are looking for more and 2010 has the only Income Statement that has been asked.
The original Exam paper came out the year before the examiner gave values for NCI. It was always the proportionate method back then. But all the Exam Kits have modernised their questions now and give NCI figures at ACQ.
If you do it the Proportionate way you will get slightly different answers to the questions. Either way is right. Check to see if you are told which method to use and if figures are provided.
Good past Paper by the way. Good Luck!
I Should probably clarify my figures a little more to do my working i use.
Share Capital
Reserves
OCE (if applicable)
All these figures adjusted for Growth then add the goodwill.But this Question used a total asset figure so for example it added up the other parts of the SOFP, like Current and Non Current Liabilities to get a total Asset figure. Is there a way to know which method should be used
Hell No. Sorry but you need to do this paper by itself or with maybe one easy paper with it. But then again, what kind of student are you, if you generally get A’s and B’s then maybe you can do it.
Exam execution and technique. I am not going to try and learn every little thing because I know a large chunk of the paper will be things I will not know. It is all about saying more while writing less words this session.
Covering exam papers and attempting to do them under exam condtitions.
You are right on question 1b, but there is always going to be something thrown in there and the more I read the text book I realise there is a huge difference between knowing the information, understanding the information and then applyiing the information.
Good luck to everyone in their study method, In truth only you know what you need, so all the best
Everything is basically new from here on in. You have probably seen Consolidated Group accounts before but this is an advanced level.
Just buy exam kit and notes and supplement with P2 Opentuition
Thanks Mike, Okay, Shorter and better outlined questions. Yeah technique and Planning its a slippery slope, because as a student you always think if I know more knowledge then it will translate to more marks, but unfortunately it does not work out that way.
This should be another Sticky topic. Brilliant outline of Pitfalls and tips for exam, not sure if I am going to start P5 this sitting might be P7 but will no doubt follow your advice. I seems to really be they key, technique and execution seems to beat knowledge almost everytime.
Anythingis better than get through guides. Really unimpressed. Opentuitions free resources are significantly better than than Get through guides who charge moderate rates. Kaplan and BPP is an bit like Android and Iphone, both great but different approaches.
Failed with a 41. This was my third attempt. I got 46% last time and I put so much work in. I am unemployed and study alot. Really not sure where to go from here. I still have options to do.
Cashflow was terrible but section b felt strong. Would love to see paper and how it was marked.
I did not do well at all.
Question one looked so easy and short but there was serious detail in there.
Question 2 was tough and then I wrote only a little for a third question. Knew it wasnt my day from the off.That was such a Theory paper. Everything said ”Discuss”
Will be focusing almost completely on theory next time.
I had the same trouble as everybody with the Impairments and such. A real missed opportunity I think though
Yeah. Must have been the 7 mark question. I am trying to forget that paper, not my finest exam. P2 Int paper
@ricesml said:
I saw the technical article on ACCA p2 are talking about lease and FI but no one mentioned them on the tips. can anyone advise on this?thanks
Leases came up in June and were a big part of the exam. So it is highly unlikely that it will come up again, but there is always a chance. Up to yourself really, whether to cover it or not.