Forum Replies Created
- Posts
Passed with 56%, 2nd attempt. Finally my ACCA journey is finished!!! 🙂 Congrats to all who passed and the ones who didn’t – you’ll get it next time, don’t give up!!!
Passed with 59%, 1st attempt!!!
Here’s my study strategy:
1) Read OT notes, no other books;
2) Made little card with ”formulas” AEIOU, DADA3, FOC, etc.
3) Printed out all past exam papers back to Dec 2013;
4) Did 2 different past exam papers every day for 6 weeks;
5) Marked the questions I was struggling with the most;
6) 3 days before the exam did all the marked questions under exam conditions;
7) Read examiners report to find out, what the students are doing wrong to pass.Hope this helps someone.
@babybupe said:
The exam was ok, but time pressured which made me not to answer all the questions especially that question 1 demands that you go through several timesI agree, exam questions were ok, but if I don’t pass it’s going to be purely because of my time management, which was brutal…like many others, I got carried away with Q1 and Q2 leaving only 40min to answer other 2 questions, which should be approx. 40min for each question. Well, at least if I have to re-sit, I’ll only have to practice on time management 🙂
@raoul7370 said:
regarding the comment about mean markers and scores of 49% earlier…as someone who has previously marked, this is simply not true and spreads a very negative and false message. Anyone getting 49 has been checked multiple times, and if a marker believes a 49 deserved a pass then no doubt an extra mark would be found if at all possible.
A well practised student, with nothing better than mediocre audit and accounting technical knowledge, can score 55-60 on any P7 sitting. As I have said numerous times, for an exam that sets essentially the same questions every sitting, it is all about technique to maximise the return on whatever technical knowledge you have.
I know what you are saying, but I’d rather fail with 30% than 49%, it’s just heartbreaking…
I like your point about ”unlimited” food and drink 🙂 what if some guests eat the hotel out of food? will definitely put a smile on examiners face 🙂 but I suppose it is a valid risk.
Procedures – verb – do something (obtain report, ask management, inspect asset);
Evidence – noun – have something (copy of report, written letter, copy of contract).That’s my understanding, but you can get both using AEIOU + DADA3
My guess would be the usual suspects from BS and PL – Revenue, PPE, Share Based Payments, Impairment, Assets Held for Sale, Financial instruments, Inventory, Provisions…
I wouldn’t recommend, as P7 is about auditing company’s FS – checking whether Revenue, Inventory, PPE, Provisions, etc were recognized correctly, that means you have to know P2 very well, as IAS will come up in P7 questions.
I agree with fbawany – I’m going to leave space after each point, rather than wasting time underlining phrases. I think clear points will stand out more, rather than 1 bulky underlined paragraph… but I suppose either way could be good, if there’s a valid point made.
That’s exactly what came up in today’s exam… i have deducted everything, estimated and actual number of emploees that left, planned to leave. Have no idea which option is correct.
I think it’s just a nature of this paper, supposed to be 1 of the hardest papers to pass. Believe me – I don’t find it easy to understand and I think there are thousands of other students who think likewise. Practice is a key to success.
Of course you can – there are 24 hours in each day 🙂
but on a serious side, it very much depends on a person. I’ve prepared for P3 within 1 month and passed just by using OT lectures and past exam papers, but for F7 it took me months, various sources of lectures and notes and few attempts to pass.
I have to agree with eagledave – OT lectures are way easier to understand, than many other sources. I’ve passed many exams purely using OT lectures and passed exam papers (as many as you can find on internet). That’s my preparation plan for June 17 sitting.
Passed with 51 !!! Self studied from OT notes and did all passed exam papers since 2010 about 3 times.
Me too – sitting in December, so almost finished OT notes for P3 and will start past exam questions next week. There’s sooo much theory, I have no idea how to approach the question.