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Thank you so much Claudia. I honestly always do well when I read your approach.. Am sure you did really well as usual.. Best wishes!
Hi Claudia, any tips for studying and revising for SBL.. it is my last exam and sitting it in March. Would be really appreciated!
I already know you passed ATX as you pretty much passed all the rest I have seen on OT with good scores! Will need your advice for SBL in December because I am taking mine in March 2021 as I have a project report to submit under the accountancy and taxation apprenticeship! Then am done!!
Good luck!Hi Claudia, just to say thank you for the advice on AAA which you posted. Had an audit risk question for 26 marks and all I remembered was your comment on open tuition.. To leave it at about 55 mins and move on. I did just that and I managed to complete the rest of the paper to time..!!! My next one is SBL… Did you manage to sit SBL as well on top of tax..?
Yes I got it as Q3 and done it last. Done it in 38 mins I had left as I did Q1 second and Q2 first.. Put Q1 in the middle as I knew a would over run a bit.
Completed the paper at least.. Which should increase chances of passing.Mine is 1.30 pm as well and I am in London. I had the option to choose morning but didn’t.
Claudia Well done.
I am doing Audit in September. Can you please share how you prepared please.
It would really be appreciated as I need that type of score in auditTake one paper at a time, if you are not doing so already. Do not rote learn.
Give yourself time to prepare well, dont rush.I did questions under time conditions 1 month prior to the exam and still struggled… I think with the way this paper it’s going you really need to understand the concepts by reading the technical articles and other journals e.g. Pwc has alot of articles on IFRS standard on their website which can help greatly to widen up knowledge on a topic and to think outside the text book and revision kits model answers.
I passed first time. Be advised that the past question papers e.g. Those in the exam kit are different from the actual exam. Make sure you really understand the standards not rote learn them to then be able to distinguish them in any real real world scenarios.
You need to be able explain your thought process in calculations when asked and what is happening and where you are not clear about what is required state your assumption and give an answer.
Its alot about evaluating and pretty much unravelling scenarios with applicable standards which you need to be able to identify on to our own most of the time.
I personally agree and provided feedback to that survey. I prepared very well but unfortunately I don’t fell it was good enough. Did alot of timed questions, summarised articles.. Went through the whole kaplan revision kit properly.. I somehow see where I may have gone wrong e.g not using the SBR syllabus and study guide to cross check that you actually covered it all in the depth in which the guide states. However, in my feedback, I stated that tutors from the big learning providers are failing to teach application skills properly for real world scenarios and perhaps it should really be the key focus now. This should be the case especially now, looking at the direction in which this paper is now going..
But at apparently it’s wrong. It should have been valued at Fair value at acquisition.. Never mind!
All net assets are valued at Fair value at acquisition. Was debating that in the exam but left it at NRVI said the same about the inventory part that should be kept at NRV.. So not sure. Will see
Thanks BG.. I just remembered I put a contract liability istead of asset. Lol. Its obviously I contrant asset as the fee was paid..
Thanks and good luck to you too… And alot of explaining too am sure they will require.. Its somewhat a very interesting paper.. SBR
