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Hello sir
I went through your exam technique of how to manage the time for entire 100 marks. First of all, Thank you so much for such a detailed guidance on exam technique. My query is, I understood that as AAA is quite wide and as questions are scenario based and can be asked on any aspects, we have to answer based on scenarios and cannot rot learn all procedures or answers apart from certain standard points.
As for me, I have no audit experience and am confused as how can I deal with questions asked if it’s something beyond the standard scenarios? Also my biggest issue is time management and I could never complete any exam on time or in time. I am really scared of AAA exam. I always used to study a lot and in detail and while coming to exam could never manage my time. Even in my SBR awaiting results, I could not attend almost 20 marks due to poor time management. Please advise..
There’s another article here from ACCA on time management:
https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/SBL/Effective%20Time%20Management%20in%20SP%20exams.pdfYou are quite right – rote-learnt knowledge will not get you anywhere with AAA. Although the scenarios will always differ, what you’re asked for should be recognisable and understandable if you’ve worked through past exam questions. So Q1(a) will usually require evaluation of audit risk/RoMM and/or business risk – (b) asks for design of principal audit procedures … etc.
If you have no audit experience one wonders why you should have chosen it – but if it’s too late to do anything about it – you will just have to be more imaginative. You have to imagine yourself in the role of the auditor – forget that you’re not. Suppose a friend told you they’d bought a porsche – what evidence would you want to see?
You have only to write 50 sentences that each earn a mark – that’s all that is needed to pass. It’s not an exercise in writing “everything I know” about a topic. My most important piece advise is “think more – write less” – see here for example.
You will also find sticky posts at the top of this forum to other essential reading – like the exam technique articles from the examining team.
Thank you so much sir for your prompt response. Will surely follow through your instructions. Actually, I am planning to sit both AAA and ATX for June session and both have to begin from scratch. Is it wise to sit both theory papers in a single sitting especially as only 61 days left for the exam??
See this page https://www.accaglobal.com/gb/en/student/exam-support-resources/professional-exams-study-resources/p6/planning-your-study1.html (there is an equivalent page for AAA) – you can download a study planner – see section 5. I would have thought you will be hard pushed to prepare from scratch for 2 exams in just 2 months – but it depends on your other commitments, if any.
And you must stop thinking of these as “theory” papers – you’ll get on with them much more easily if you think of them as practical – yes there are “rules”, “procedures”, “requirements”, etc – but they should make sense to you so that you can apply them in a practical situation.
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