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Hey, I’ve been attempting f7 since Dec,09 continuously and still I haven’t passed it. I don’t know what goes wrong ? I am stoned, it’s not easy for me to understand why i keep on failing inspite of all the hard work. Please suggest me something, anything that you think could be helpful. This Acca specially F7 has driven me crazy :’-(
Those who started Acca with me qualified way back and till date I have managed to pass only 6 papers. F1-F6 :’-(
Please Help !Crying Fellow
Hi Arasalan ,
Let’s see,
as there are thousands of students around the world, who actually pass this paper, then it already means that it’s not impossible. I personally know students who were extremely poorly prepared for it and still passed, that’s another point.As u attempted this paper 5 times then u must for sure know the theory by now and have some paper related skills.
So , what u need to consider is the following :
1) Your handwriting. Is it ok ? it’s it readable? If u passed other papers, i guess it is.
2) Your way of laying out financial statements and presenting your workings. Is it organised? Do you make references to your workings inside statements?
(W1, W2, W3 etc).
Which book are you following? Is it an ACCA approved publisher?3) Your books must be updated.
Alright maybe 1-2 years old books will steal lead u to pass, but if u use, say 2008 books till now , or just past papers, then u will have real problems.
Say if u use past papers . Terminology changes and so do the IFRS rules.
So to prepare for exam you need an updated kit.4) Your approach to each type of exam questions.
Consolidation is relatively easy , specially SFP.
However there might be a problem with CIS. Different people use different ways to present it. I beleive that the best one is columnar approach. It’s quicker then the way how examiner presents it. So if u heard about this approach, u might try it.
Now Q2 composition of financial statements and / or redrafting.
That’s the hardest one, at least for me.
Practice all the exam format questions that u can possible find if u feel you are weak in this area.
When u practice, don’t just copy answers all the time. Ensure that u attemt a question FULLY yourself first. OR at least, u might work out some complicated question with answer and then return to it say in a week and work it out youself as many times as u need.
Btw, dont’ try to balance ur SFP , it will only take time and make u stressed.Q3 cash flows. Well here also don’t try to make it perfect.
However ensure that u are very fluent with proforma . And compute net cash flow at the start of the question, rather then at the end.
Ratios : here it depends on your luck. This december question on ratios was very hard at least for me.
However, ensure that u can easily operate with all the main ratios. Ensure that u are able to provide meaningful explanations to each of those and that u can relate them to example.
Examiner does not need all the ratios u know. He needs exact number of ratios that relate to scenario and ur previous computations only. Amount of ratios that he wants can be determined by numbe of marks that is awarded for a ratio question.Q4,Q5 ,
honestly,
if u prepare well for previous 3 questions, u will have some idea about what to write here.
Above all that ensure that u are familiar with Conceptual Framework. Read examiner’s article about it.
And again , practice with kit. If u feel you are still unclear about any examinable standard, then study it and see how it is examined by our our examiner.
Bear in mind that since 2012 couple of new IFRSs are examined : IFRS 10 and IFRS 13.I believe that the best way to prepare for F7 is to follow LSBF lectures.
But u hardly can find them for free now. However if u can , then do follow Francis’s way (it’s the tutor).
Also check all Opentuition materials , ensure that u can easily solve any example.Do not waste any time now.
Look at the syllabus? open any mock paper, open index in kit ..see if there is any topic u feel weak. Open relevant questions and try to solve them. IF u see that u can’t do it , then work out with answers and in some days try to solve those again and so forth.
Practice at least 5 questions per day. The more the better. Every single day ..and trust me it will pay of. Just don’t leave anythign unclear and use all time saving techniques that u can.good luck!
Thanks ansi for all the tips and techniques.
I don’t think I have any problem dealing with consolidation , Calculating ratios and the proforma of cash flows. The main reasons of my failure (what i think) are interpretation and theoretical parts e.g commenting on ratios etc and the IAS’s. Because of poor grip on IASs i mess up Q.2 and could hardly attempt Q.4,5 … this time i will try my best to understand all the IASs and practice as hard and as much as I could.
if there’s still any thing that you would like to add then please do so.
Thanksarsalan999 – all credit to you for not giving up.
Do you do lots of practice questions ? This is where I spent a lot of my time studying – but I was always a bit of a cheat. I’d read the question, jot down a couple of notes and get nowhere near actually treating it like it was an exam question and attempting the whole thing in the recommended time. As soon as a part of the question got tricky – I’d give up answering and skip straight to the answer to have a look. Then I’d read the answer thinking – “yeah that makes sense, I understand it”. But in reality – I hadn’t really learned how to answer the question properly which means not being prepared for the exams.
That caught me out on all the calculation type papers (F7, F9, P2, P4 etc).
I really hope you pass in the summer, best of luck to you.
arsalan dear,
i can personally feel your fraustration, the truth is , if you could pass any of the acca papers, you can pass just any other ones. i personally wrote f7 6th times before i got it. i didnt pass until i was ready to pass, pls mark my statement (i didnt pass until i was ready to pas) . i once got 49 ( leaving 25 marks question behind unattended) even a lower figure thereafter. I got 60 in the June 2011 sitting.
*pls walk (study ) alone. leave the crowd.
*study with the “right” materials contact me if you need some.
*change the old materials & source something new
*start preparation on time.
*pls pay attention to examiner’s comment & articles, the do wonders.
*pls put your heart. acca is a matter of heart.In the exam:
*stick to the alotted time per mark ( e.g 1.5mins per mark) a 30 marks question = 45mins
*do not wait to finish up once your time is up on that section.
*you can always come back to it when you must touch it round.
*move to the next question
*do the best you can &
*principally, pray to God for direction.you will make it!
Arsalan, I can agree with substantially all that ANSI has recommended ( a bit upset that she recommend LSBF and Francis – and then as an afterthought she recommends OT! )
You should find in the very near future that Admin has loaded up answers to questions 1 and 2 for every exam since the pilot paper in 2007 – a total of 10 answers to question 1 and 10 for question 2.
You claim that you are capable at consolidations and that the cause of your failings is your knowledge of IAS / IFRS and ratios / interpretation. If you are as competent at consolidations as you claim, say scoring 20 out of the available 25, that means that you are failing to score 30 out of the remaining 75.
I suggest that you are probably not as competent in question 1 as you like to believe 🙁
Ansi suggests that questions 4 and 5 will come naturally, and I’m inclined to agree. Gabriel also gives some good advice, particularly in the area of exam technique.
Essentially, you need to be practicing past exam questions, UNDER EXAM CONDITIONS, and NOT CHEATING! Get a member of the family to set you questions. Photocopy questions and go into a room where the answer is not easily available. Aim to work honestly through at least 25 marks worth every evening.
And, when you have tried a 25 mark question 1 or 2, and made a total mess of it in 45 minutes, then do it again the evening after.
If you can do 5 x 25 marks on Monday through Friday and then persuade yourself to do three more questions over the weekend, that amounts to two exams each week. Starting today, you have 14 weeks before the week of the exams. If you do 200 marks’ worth each week, that’s the equivalent of 112 twenty-five mark questions.
Start now, today. Enlist the help of your family! And don’t cheat
I passed F7 on third(3) attempt.What i suggest you to do is to get all passed papers and go through thoroughly if you know all the notes like IAS,IFRS and if you can interprete.You will know what makes you fail and improve on that.Answer paper by paper without going through the answer but mark yourself after.This helped me very much.Third attempt i did not go through the text book but revision kit.
I use to refer to the manual book if i needed an easy explanation on something.
You will even be able to tell what will come by comparing previous exams.Sometimes some topics like Consolidation(either group or single) are repeated.
Understand each step when answering any question.Understand each topic.Start with the topics you are having problem with.Go through examiners comments also.
Good luckyStop getting stoned lol.
Seriously, the best advice: Never give up. Maybe go in the exam with a different viewpoint, don’t put so much pressure on yourself and just think of it as another day in class. Don’t look around at what other people are doing. DO NOT spend more than 45 mins on qs 1, 2, 3! This is very important!
Lastly, one thing that helped with me is doing either q 1, 2 or 3 each day before work. This will improve muscle memory and when you get in the exam you won’t need to think, it will be automatic.
Good luck and I hope ypu pass this December. I am certain you will.
that ANSI has recommended ( a bit upset that she recommend LSBF and Francis – and then as an afterthought she recommends OT! )
You should find in the very near future that Admin has loaded up answers to questions 1 and 2 for every exam since the pilot paper in 2007 – a total of 10 answers to question 1 and 10 for question 2.
You claim that you are capable at consolidations and that the cause of your failings is your knowledge of IAS / IFRS and ratios / interpretation. If you are as competent at consolidations as you claim, say scoring 20 out of the available 25, that means that you are failing to score 30 out of the remaining 75.
I suggest that you are probably not as competent in question 1 as you like to believe 🙁
Ansi suggests that questions 4 and 5 will come naturally, and I’m inclined to agree. Gabriel also gives some good advice, particularly in the area of exam technique.
Essentially, you need to be practicing past exam questions, UNDER EXAM CONDITIONS, and NOT CHEATING! Get a member of the family to set you questions. Photocopy questions and go into a room where the answer is not easily available. Aim to work honestly through at least 25 marks worth every evening.
And, when you have tried a 25 mark question 1 or 2, and made a total mess of it in 45 minutes, then do it again the evening after.
If you can do 5 x 25 marks on Monday through Friday and then persuade yourself to do three more questions over the weekend, that amounts to two exams each week. Starting today, you have 14 weeks before the week of the exams. If you do 200 marks’ worth each week, that’s the equivalent of 112 twenty-five mark questions.
Start now, today. Enlist the help of your family! And don’t cheat
@mikelittle said:
Arsalan, I can agree with substantially all that ANSI has recommended ( a bit upset that she recommend LSBF and Francis – and then as an afterthought she recommends OT! )You should find in the very near future that Admin has loaded up answers to questions 1 and 2 for every exam since the pilot paper in 2007 – a total of 10 answers to question 1 and 10 for question 2.
You claim that you are capable at consolidations and that the cause of your failings is your knowledge of IAS / IFRS and ratios / interpretation. If you are as competent at consolidations as you claim, say scoring 20 out of the available 25, that means that you are failing to score 30 out of the remaining 75.
I suggest that you are probably not as competent in question 1 as you like to believe 🙁
Ansi suggests that questions 4 and 5 will come naturally, and I’m inclined to agree. Gabriel also gives some good advice, particularly in the area of exam technique.
Essentially, you need to be practicing past exam questions, UNDER EXAM CONDITIONS, and NOT CHEATING! Get a member of the family to set you questions. Photocopy questions and go into a room where the answer is not easily available. Aim to work honestly through at least 25 marks worth every evening.
And, when you have tried a 25 mark question 1 or 2, and made a total mess of it in 45 minutes, then do it again the evening after.
If you can do 5 x 25 marks on Monday through Friday and then persuade yourself to do three more questions over the weekend, that amounts to two exams each week. Starting today, you have 14 weeks before the week of the exams. If you do 200 marks’ worth each week, that’s the equivalent of 112 twenty-five mark questions.
Start now, today. Enlist the help of your family! And don’t cheat
@mikelittle said:
Arsalan, I can agree with substantially all that ANSI has recommended ( a bit upset that she recommend LSBF and Francis – and then as an afterthought she recommends OT! )You should find in the very near future that Admin has loaded up answers to questions 1 and 2 for every exam since the pilot paper in 2007 – a total of 10 answers to question 1 and 10 for question 2.
You claim that you are capable at consolidations and that the cause of your failings is your knowledge of IAS / IFRS and ratios / interpretation. If you are as competent at consolidations as you claim, say scoring 20 out of the available 25, that means that you are failing to score 30 out of the remaining 75.
I suggest that you are probably not as competent in question 1 as you like to believe 🙁
Ansi suggests that questions 4 and 5 will come naturally, and I’m inclined to agree. Gabriel also gives some good advice, particularly in the area of exam technique.
Essentially, you need to be practicing past exam questions, UNDER EXAM CONDITIONS, and NOT CHEATING! Get a member of the family to set you questions. Photocopy questions and go into a room where the answer is not easily available. Aim to work honestly through at least 25 marks worth every evening.
And, when you have tried a 25 mark question 1 or 2, and made a total mess of it in 45 minutes, then do it again the evening after.
If you can do 5 x 25 marks on Monday through Friday and then persuade yourself to do three more questions over the weekend, that amounts to two exams each week. Starting today, you have 14 weeks before the week of the exams. If you do 200 marks’ worth each week, that’s the equivalent of 112 twenty-five mark questions.
Start now, today. Enlist the help of your family! And don’t cheat
Hi Mike
I agree with you. However,I have questions for you.First how much time to allocate to study text readying as full time employee, since do past exam need to have knoweledge. Second,if SOFP can’t balance, is it big problem for pass the paper?Hey, I would love to discuss about preparations with you. I’m facing some similar kind of situation with failure and pressure. Is there any way I can contact you ? I’d be glad.
I failed my FR paper again. Should i change and do another subject or start studying it again and attempt it in 2021?
@nyamudata – you would do better to look to posts in the FR forum and ask there rather than this general forum for non-exam specific questions.
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