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Hi Mike
I sat F7 in March and failed with 35% – I didn’t resit in June but am doing my 2nd attempt in September. Please can you confirm what has changed since my last attempt and give any advice as I couldn’t get my head around all of the adjustments – even the most basic of Goodwill (which is bad I know). I’m guessing more practice for a start.
Thanks
Chloe
Certainly more practice – lots of it
But there are also some new topics in for the first time in September
– accounting for foreign exchange and foreign exchange differences
– accounting for the disposal of a subsidiary
– accounting for revenue under IFRS 15 and NOT mentioning IAS 11 nor IAS 18
There’s also a new format for the examination – I assume that you knew that
Any problems – post on here and I shall get back to you
No I don’t know about the new format – where do I find out about that?
I am now quite concerned as I am only just starting my studying for my second attempt.
How different is this new format? Where can I find an example? I am guessing this is something to do with the paper having to match the CBE although I have entered for the written paper.
Please let me know so I can be as prepared as possible for the 6th September?
Thanks
I’m not liking the extra MCQs – now I know why you have said to do lots of practice of them.
Two hours a day until the exam just on mcqs
The rest of the time when you’re not eating or sleeping – spend tackling mini-exercises and longer form questions
Haha thanks Mike. I think I will run out of MCQs by then. I guess I can always go over the same ones again.
That’s exactly the point – you’ll get quicker and quicker at them
2 hours is only 33 questions and there are a lot more than that in a revision kit
Don’t write your answers in the exam kit / revision kit itself
That way you ARE able to go over the same ones time and again without being distracted by earlier attempts
I don’t have the up to date revision kit, I don’t know if they have all been changed now for the new Sept sitting format. I will be using the one for exams up until June 2016.
It has more than 33 questions on MCQs but still not as many to reflect the new style of paper.
You really should have got for yourself an up-to-date revision kit – look on it as an investment rather than as an expense
Probably too late now so you’ll have to make do with what you’e got
Don’t forget to get heavily stuck into the mini exercises at the back end of the free course notes and then do as many old style exam questions 2 as you can
That’s as well as making sure that you’re totally on top of consolidations, cash flows, interpretations ….
A lot of work ahead of you these next few days
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