Changes in p7 in September 16

The notes are already updated and contain the revised chapter on audit reports to fit in with the new audit report standard

OK?

There has not been a new lecture recorded. But the notes are up to date!

I’ve just answered this on a different page! Will you please refrain from multiple-postings

🙁

You’re welcome

Knowledge, and a whole lot of examination technique

You can develop both with endless hours of reading (knowledge) and practice (examination technique)

You can fail this paper dramatically even with a lot of knowledge if you have zero technique

You can still fail with wonderful technique …. but it’s much more difficult. And if you add a minimum amount of knowledge to that wonderful technique …. I’ll be writing congratulatory messages to you in October

Read the notes whilst watching / listening to the lectures

Then read the notes again

And then again

The get yourself a revision kit / exam kit and start reading from page 1 question 1, then answer to question 1, then question 2 and the answer to question 2 and so on until you have read the lot

Twice if you can face it

Then post again around August 20 for the next instalment

Thanks for those kind words – and keep posting when you hit a brick wall!

You need to make sure that you’re up to speed on IFRS 15 and on the new format for audit reports

There’s an informative article about the new audit reports that you must read

Otherwise you should be ok with the 2015 material

And you’ve read through the revision kit – ideally twice?

This was part of my post on 24 July:

“Then get yourself a revision kit / exam kit and start reading from page 1 question 1, then answer to question 1, then question 2 and the answer to question 2 and so on until you have read the lot

Twice if you can face it

Then post again around August 20 for the next instalment”

So here we are on 18 August, ready for part 2

Get hold of a sheet of A4, a pen, a stop-watch and your revision kit.

Turn at random to any question

Divide the number of marks in the question by 2 and that gives you the base number of minutes

Then adjust that for the appropriate proportion of the 15 minutes reading and planning time

If it’s a 35 mark question, add 5 minutes

If it’s a 25 marker, add 4 minutes

If it’s a 20 marker, add 3 minutes

So now you know how long you’re going to spend on this next task

Set your stop-watch to ring at the end of that calculated time (eg ((35/2) + 5) = 22.5 minutes)

Then start to read the question with a view to PLANNING, in bullet point format, a skeleton answer that you would be able to fill out in the exam.

You’re aiming for as many bullets as there are marks available and this must cover ALL parts of the question

When the stop-watch reads 22.5 minutes, STOP, check your plan against the printed solution and see how many you scored out of 35 total

Repeat the process for the next 2 weeks – as often as you can

35 marks = 22.5 minutes reading and planning

25 marks = 16.5 minutes

20 marks = 13 minutes

Slowly, ever so slowly, you should find that the number of planned separate points is getting up towards an acceptable proportion of the marks available

And post as often as you want to ask further questions

OK?