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in f8, what you learn is
to identify defiency in internal control
to assess risk of material misstatement in financial statement
to plan audit procedures
audit reporting
internal audit.practice exam standard question will help to understand the concept , it will be difficult to understand from study text. read one chapter then attempt corresponding exam question from revision kit.
Hey chomi,
I quite agree with vipin.
Be careful with F8. This subject will either seem dull to you which will ruin your studies.
Or it will seem interesting , easy and logic to you, which might make you fall into the trap of not preparing appropriately.
F8 is a seriously very dangerous paper, where knowledge and hard work is not enough.
You need to practice so many questions, until understanding the requirements become a second nature. And i mean understanding them the way examiner wants you to understand them.As Vipin said, do not dig too much into the book, do active learning, when you practice immediately after you cover some topic or chapter.
There is an awesome questions allocation scheme at OT here :
https://opentuition.com/acca/f8/acca-f8-questions-analysis/ (it is presented in two ways : one contains all the topics examined in alphabetic order and another contains topcis by question types).
Try using the alphabetic one.
So once you cover a topic you can immediately see in which quesitons and subquestions it has ever been examined. Practice them all.
And once you are done with your answer, open marks allocation scheme for this question and see , whether you covered all the points, or whether anything is missing.
Then read examiner’s comment about this question.
It’s available in examiner’s reports here: https://www.accaglobal.com/en/student/qualification-resources/acca-qualification/acca-exams/f8-exams/exams-f82.htmlAnd after it, read the examiner’s answer.
Practice like that as much as you can.
Ensure that there is no topic in the syllabus about which you don’t know anything, or which you don’t understand AND which you hate.
If there is any topic you hate, then it’s time to start loving it. Discuss it at OT chat, discuss it on forum , discuss it with your friends. Question your tutor, or local OT tutors. Study it.
Daily revision of this ..awful horrible topic / topics will make real miracles.
But by daily i mean literally daily.Well , and you might think of making your own small notes and studying mnemonics where available. Those are real helpful for theoretical subjects.
Anyway, best of luck and i hope you will figure out the way of approaching F8 that works best for you.
😉
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