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Hi
I am going to do immediate resit for this tax paper as the one in September didnt go to well. To prepare, i plan to go through all your videos from chapter 2 to chapter 11 and then master the past paper questions on income tax, and then focus on your two corporation tax videos and master the past paper questions for that. I will then watch videos on your topics like vat, inheritence tax and cgt and master them past paper questions in the Kaplan book.
Please advise does this sound like a good plan instead of reading through a text book again? As you can see i am going to try and focus a month on Income tax and corporation and once i got that in the bag focus on Iht, cgt and vat as that sounds like the bulk of this exam, correct me if im wrong.
Thanks
Will donate to Open Tuition upon successful completion of this exam if i get through it as im relying on your videos this time 🙂
Firstly – I’m sorry to hear that you are not hopeful for your recent attempt at this exam and trust that should you need to resit in December that you will get the success that your plan will hopefully achieve for you.
You mention about “reading through a text book again”. I would never recommend trying to do that even for a first attempt!
You need to work through the OT study notes in conjunction with the OT lectures – I would indeed here recommend on a subject by subject basis starting with income tax and corporation tax – doing the additional work specified at the end of each relevant chapter before then moving on to attempt questions from an exam / revision kit from your chosen ACCA approved provider – ensure that that this is an up to date version ie FA 2019!
I would also recommend attempting the Section C questions for income and corporation tax before attempting the Section A individual objective testing questions – given the detailed nature of some of these questions it is here that you may use your study manual / text book, but as a reference book NOT a reading book for those questions for which you may be unable to understand the answers!
The OT study notes are a fraction of the size of study manuals and are designed to allow you to comfortably pass the exam – not to be able to answer every possible detailed objective testing question within a revision kit, most of which have been written by the material provider not by the examiners.
It is vital that you do not get lost within the detail of a study manual but that you form a good working understanding of each tax and then practice and improve your knowledge and skills by the use of your exam kit.
The only point I would probably make about your study plan would be that within the Section C corporation tax question you will often see chargeable gains knowledge being required, so you may need to revise the CGT material relevant to corporate tax before you are able to properly attempt those parts of the question.
Good luck with your studies this time around!Thank you that was so helpful, my preparation in the first attempt was so bad due to working hard and not smart. I literally had a week to go through past paper questions after spending 4 months going through 1000 pages in my Kaplan book and then forgetting what i learned 2 months ago and not having the time to go back
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