ACCA AA Exam Results – December 2020 – Instant Poll and Comments

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passed in first attempt with 70 marks

Hey,

Failed my First attempt, i am exempt from a lot of papers and haven’t really studied since uni (4 years)
how do i practice the multiple choice questions. it was soo hard?? is there any where i can practice these questions?

please and thanks

CYNTHIA wrote:Congratulations… kindly share your study tips @hhw93 and do I need to write FM and FR before writing AA

Hi Cynthia! My best advice would be – practice, practice, practice! The more questions you do, the more familiar you get with the marking scheme and what kinds of things they are looking for. Especially when it comes to things like audit risks and control deficiencies, I noticed that the more questions I did the same scenarios came up again and again so it became a case of remembering and regurgitating the ‘standard’ risk responses depending on the scenario you are presented with.

I wrote up a table of all the possible risks and responses I could think of and asked my partner to test me. Seems excessive as there are lots of possibilities, but it worked for me and I was able to pull them from memory during the exam with no trouble 🙂 you can do the same with control deficiencies, ethical threats etc.

Remember, you are trying trying to adopt the mindset of an auditor and a common mistake is to focus too much on business risks I.e impact on profits or business performance, rather than audit risks I.e overstated profits. There is a big difference! People often trip up by describing a risk from the perspective of the business rather than the auditor. Remember – the auditor cares whether financial statements show a true and fair view, regardless of how well a business is performing.

I sat FR just before AA which helped a LOT because you need a good understanding of financial statements in order to identify areas of potential misstatement. AA also involves calculation of ratios which is covered already in FR so it was fresh in my memory and I hardly had to revise these at all.

Hope that helps!!

Passed 75% first attempt!

I couldn’t believe it!!! I thought I was going to fail. The MCQs were so tricky and hard. When I read the first question, I felt devastated!

In my mind, I had already prepared for a resit in March 2021 because I didn’t think that I was going to pass. I spent half an hour for the MCQs which is shorter than recommended.

My mind went blank in Section B because I felt like it was impossible for me to pass as I thought I did very badly in Section A and Section B was not easy too!!

But I told myself not to give up and finally got a hold of myself and start to read the questions clearly!

My tips is PRACTICE, PRACTICE and PRACTICE!
There is no way you can pass AA without practicing questions. Write down your answers in a piece of paper and compare your answers with the examiner’s answers. Do not just audit answers or think the answers your head! Write it down!

The more questions you do, the better you get! I always study the whole syllabus and I never spot questions.

Spend more time practicing rather than just read, read and read! If you don’t understand something, then ask!

Seek to understand substantive procedures rather than memorising it. You will find it logical once you understand and thus you will not need to memorise all the substantive procedures. Even if you memorise all the substantive procedures, it won’t guaranteed you a pass because you don’t apply it in the exam.

Read at least one examiner’s report for AA. Look at what the common mistakes that students always did in the exam especially the AUDIT RISK.

When they asked for AUDIT RISK. Do not write BUSINESS RISK!

0.5 marks for the identification of risk and 0.5 marks for the explanation.

Lastly, for those who failed, do not give up! I believe everyone will be able to pass if you put in your hard work and also study smart.

I wish everyone good luck in your future exams 🙂

51%, first attempt. It was God

Hii Can U give me some tips to clear it… Shall be really Thankful