Switching to P7

You most certainly need a revision kit / exam kit from a reputable publisher

watch the videos, read the course notes (2 hours from start to finish – just read like you would a novel) and then start reading the revision kit

Whilst you’re waiting for the revision kit to arrive, download 2 or 3 exams’ worth of q’s and a’s from the ACCA past papers and read those

The key here (at least until 20th February or thereabouts) is just endless reading, reading, reading

Over and over again

You should get through a revision kit at least 3 times from start to finish, through the lecture videos at least once per week and the course notes at least 5 times per fortnight

Around 20th February, post again for the next (and final) bit of advice

And, whenever you hit a problem, post here and I shall get back to you

OK?

Why are you now talking about P6? May I presume that you mean P7?

Put your study text for P7 in a dark corner of the garden shed and lock it away

Accept that there is no way on this Earth that you are ever going to read 1,200 pages of rivetting theoretical auditing. It’s not happened, it is not happening and it is most certainly not going to happen … so forget it

Now re-read my last post and get started on P7

Just a word of warning – make sure that you enter for P7 UK if you harbour any ambitions at all of practicing as an accountant / auditor in the UK (for as long as Scotland remains within the UK the current ACCA rules will apply North of the border)

Can you do it in time for the March exam?

I don’t know – it depends on your receptiveness to learning new stuff but, to be honest, much of the secret to passing P7 is an ability to apply common sense and to have an open and imaginative mind

Get into a revision kit and let your imagination take you wherever it wants you to follow

No problem – if you should decide on P7, you know where I am if you need me

Yes, read course notes as often as you can face it!

As a way of breaking up that monotony (and the monotony of the video lectures) you could also sensibly make a start into past exam q’s and a’s by downloading from the internet

The difference between international and UK versions is because of the UK’s reluctance to embrace fully the International Financial Reporting Standards

You could download a recent exam for both variants and compare the questions and answers

I understand that the UK variant does not show the sub-division of the marks that is shown within the International variant – I cannot imagine why!

I continue to maintain that P7 is a common sense exam that requires immense self-discipline (sticking rigidly to appropriate time allocation) and examination technique

Can you do that? Are you an imaginative person? Are you able to bring life’s experiences into examination answers? Are you a logical person? Would you say that you routinely apply common sense to everyday situations that you face? Do you structure / plan answers to written questions (as distinct from computational questions)?

If you can tick all those boxes, there’s no reason to suggest that P7 would lie beyond your capabilities

How far back? As far as you feel inclined to! There’s no optimal number and I only suggested past papers were appropriate until you got hold of a revision kit

Do you have enough time to prepare for a March exam? You mention 2 hours per day. Does that include reading past q’s and a’s when you’ve gone to bed until your eyes fall down and the revision kit slips off the duvet?

This time question is unanswerable – sorry. It depends upon your individual receptiveness in combination with all sorts of other variables but if you read comments after the results are posted, it’s not unusual to read some that typically say “55% first time Whoooo-hooo! And I only spent 4 days preparing for it”

Equally, it’s also the case that there will be others that say “I can’t clear this exam. Failed again with 36%. I don’t know what to do – that’s my 6th time”

Reading is the key rather than trying to ‘learn’ or memorise – just read.

You can get through the course notes in around 2 hours and you can listen to the video lectures (there’s not much to actually see on the screen) whilst looking after your family – I get the impression that your family is young and demanding of your time, but I could be so wrong.

If I am wrong and you have said in an earlier post that “I work full time and have a family” then you need to be persuading your partner to take over some (or all) of the household duties whilst you prepare for P7. Even if that only saves you 1 hour each day, that’s a 50% improvement on your current situation

Go for it!