Thinking to move to p7 and quit with p5 (failed 6times )

First things first – I trust that the ‘drowning situation’ comment was merely a bit of hyperbole and that you are not seriously thinking of suicide

Assuming that your comment was simply an indication of your frustration following a series of adverse results, let’s see how we can move you forward and reduce the probability of a resit of three more P level papers

We have just 7 weeks before the March exam session starts so you will need to start, at the very latest, tomorrow

You give no indication as to whether you are a full time student, a mother, a full time employee, a semi-professional footballer, a home carer for your ancient grand-mother … so I have no idea of your personal circumstances

You may therefore need to tailor the advice to fit your particular situation

Get hold of a P7 revision kit from a reputable publisher (BPP or Kaplan are the normal 2 to think about)

That will presumably take some time to arrive at your home so, in the meantime, download a couple of past exams from the internet, questions and answers

Whatever the source of the material, start reading question, then answer, question, then answer, and so on …

… and on …

… and on …

Don’t try to learn or memorise the answers. Just read, repeatedly

When a revision kit arrives at your home, read from start to finish, every question, every answer

You should be able to read it (as though it were a novel) in no longer than 1 week and hopefully in just 3, 4 or 5 days

Do this 4 or 5 times in the next 5 weeks up to, say, 20 February and then post again for part 2 of the advice

Whilst the material is being printed from the internet, look up my examination technique article (P7 page, scroll down to near the bottom, click on the examination technique article) and read it

In addition, there are 2 other articles by members of the P4 marking team that say effectively the same as I do but if three of us say it you may believe it!

Furthermore, read the examiner’s own comments from the last three years as well as technical articles for P7 also for the last three years

Preparation for P7 is essentially read, read, and then read again

And when you have read the revision kit 3 times, read it again for another three times

You will be so incredibly bored by this but it really is a very effective way of digesting the sort of answer that will score marks (ignore the fact that the printed solutions are always way too long and way too detailed)

Pay particular attention to the requirement verbs used and the style of the answers.

Watch out to see how the printed solutions quote expressions from the question scenaria and the importance of dates and of materiality

Printed solutions often are written using the first person singular (I, me and my) and the question will not unusually say that “You are the auditor …” and “You are required to …” seemingly inviting the use of that first person singular

Personally, I find that the resultant style is immature and lacking professionalism, but I’ll leave you to make your own decision about that – it won’t be a deal breaker either way

So, get to it, and I’ll expect to hear from you after February 20

OK?

‘so one chap a day and at least one question’ – you could read start to finish in those course notes in just over 2 hours!

Try this:

course notes this evening
tomorrow during the day, spend 3 hours reading past exam questions and answers
course notes on Friday
Saturday and Sunday spend time with family
Monday course notes
Tuesday reading questions and answers
Wednesday course notes
Thursday questions and answers
Friday course notes (for the last time)

Saturday and Sunday spend time with family
Monday through Friday reading questions and answers

Saturday and Sunday spend time with family
Monday through Friday reading questions and answers

Saturday and Sunday spend time with family
Monday through Friday reading questions and answers

Saturday and Sunday spend time with family
Monday through Friday reading questions and answers

and repeat up to February 20 and then post again

You should be able to get through a revision kit / exam kit once every 4 days or past papers, one each evening but don’t get uptight if you find that’s too much … just do what you can (no one can ask more of you than that)

OK?

Then try P5 again – go for 7-up!

As the saying goes ‘It it still works, why change it’ or ‘Why change a winning formula?’

Oh, wait a minute – it isn’t working is it!

If you wish to follow the advice of loads of your friends, then do so

But know this!

There are thousands of students that have no auditing experience – literally thousands – that pass these exams. In fact, it’s probably the ones that DO have auditing experience that have a greater chance of failing!

My (hateful) audit manager at work, many many years ago, decided that it would be a good idea if he qualified as a chartered accountant. He went on a Kaplan course to prepare for those exams – in those days you had to take 5 exams in 2.5 days and you had to pass them all in that one sitting – there was no concept of one-at-a-time, no referrals. If you failed one, you had to resit all 5

My detestful audit manager (I still hate the memory of him after all these years!) passed 4 and failed 1

And what was it he failed? Auditing!

I have said consistently over many years, the key to passing the audit exam is a solid application of common sense and an ability to be imaginative in your answers

This exam needs no university degree nor any audit experience with a big 4 firm. You are an under-graduate of the university of life! Apply your knowledge of the world around you when you are looking at audit questions

When you have planned an answer to an audit question, check your plan against the printed solution and recognise just how many simple points are raised in the answer that you knew … but you hadn’t thought of in your plan (this planning exercise is part of the advice for the period after 20 February so don’t try it just yet)

Of all these loads of friends that have advised you to stick with P56, how many of them have failed P5 six times?

Go ahead, listen to them if you wish … but don’t let a fear of the unknown put you off P7. That would be the same as a child, when offered food that the child has never before experienced, claiming that they don’t like (say) oranges and, when asked why, they say that they’ve never had oranges before

The choice is yours – let me know what you decide!

No worries! Let’s do it!!!!!