How I passed AAA at 3rd attempt 73%

Hi Everyone,

I failed AAA twice in September and December 2020 with 46% and 48% respectively. In both cases I have only attempted 2 questions ( 1st – 25 mark and 2nd – 50 mark). I have not even started 3rd question.

September 2020 was my first computerised exam and I noticed I was slower and more nervous typing. I passed all my prior exams at first attempt (all paper base) and I was afraid that I would get stuck on AAA.

I felt comfortable I had the knowledge but couldn’t pass it to the exam paper. I reached out to Kim in ‘Ask the tutor’ and was advised to try to attempt to do all questions.
I seriously needed to work on my technique as I was only managing to answer 2 questions in 3 hours.

I have changed the strategy:
1. Reviewed all accounting standards to refresh the knowledge.
2. Reviewed structure of auditors report – order of the paragraphs, when used and what they should contain.
3. Read recent technical articles with focus on Group consolidation.
4. Read multiple examiner reports which help me to understand that I write too much details in my answers and therefore waste time. I had to give an answer directly in relation to what is given in the question not writing all that I know.
5. Reviewed answers to some question in AAA practise book in relation to different topics: risk, ethics, auditor reports etc. because I found the answers in Practise book easier for me to understand and also how I would write myself than the answers in past papers.
6. Printed all past paper questions fresh so I didn’t have anything highlighted or side notes and in my last week before the exam was doing 1 to 1,5 exam a day on the ACCA practice platform to get comfortable with it as I found I was slower on computer than when was writing paper based exams.

Through all this process I was making computer notes in Word for things that I thought I would like to have easy access to like brief notes from accounting standards or key things that I saw in answers that I thought could be handy to look into again.
I did it because I don’t remember where I came across some topics and it is difficult to find it later when I want to review it.
It is easy to find a phase or a word in Word e.g. interest free loan to a director… or convertible bonds or anything that I thought I may want to refresh later.

During the exam I have change the strategy:
– 1st I attempted 25 mark question that I felt comfortable with.
– Then I attempted 2nd 25 mark question as I wanted to write anything even if it was a few easy marks. I was very focused on time and spent no longer then 35 minutes on each of 25 mark questions.
– I knew the big question is loaded with data and I would get stuck writing too much on 50 mark question therefore I attempted it as my last question.

Other point:
1. I find highlighting in PDF useless as I cannot do side notes therefore I was reading and typing my answers at the same time taking into consideration that I may come across additional information that I would need to add.
2. I calculated only a few ratios and I made sure to used them all in risk analysis (ratio, % change MoM or YoY and a couple sentences in relation to risk). Previously I calculated lots ratio in excel and wasted time because I barely used any of them.
3. I don’t work in audit and for procedures I only 1 procedure for one mark given. Previously I wrote many more considering that some may be only half a mark – time wasted again. For procedures I recommend to read answers in past paper questions. Gives an idea how to approach the topic and I learn a lot from it.

I finish exam before the time was up. I was worried that I missed some questions. I was surprised I managed to answer all question and still had around 10 minutes left.

Since it is my first failed exam ever I learnt something. It is better to focus and put all the attention and effort to prepare for the exam at the first attempt than do it multiple times. I found my brain wasn’t absorbing information as recognised it as “I know it” matter 🙂 and I was also more bored reading it again therefore skimming through instead of really getting into it.

I hope you will find it helpful to prepare to AAA exam.

Good Luck!