ACCA Exam Paper Resources

Getting Ready to PASSACCA

Students preparing for exams in December 2008 will no doubt be hard at work studying for success on the day of the exam. A key aspect of being able to pass the paper(s) you are studying for is practising exam standard questions and understanding what the examiner is asking you. A common pitfall by students which results in failing an exam(s) is inadequate preparation. This article looks at additional and affordable revision material which students can gain access to, which is also idea for ‘on the move’ revision. The final part of the article offers students some words of advice on how to maximise their chances of success in the forthcoming diet of examinations.

Where should students be up to now?

At this stage in the revision process, students should be practising examination style questions, past papers and developing their knowledge. Students who find the papers they are studying for particularly difficult should be concentrating on core areas of the syllabus and strengthening their weaknesses. Attending a revision course will boost this knowledge and will help address concerns students have with certain aspects of a paper.

What is available for those students who cannot attend a revision course, or want additional material to boost their chances of success in the exam?

Alternative revision material

AccountancyStudents.co.uk has recently entered into partnership with Passacca.net. Passacca.net have extremely affordable downloads which are written by professional tutors, some of whom mark the real papers.

There are two categories of ‘downloads’ available. The first one are the ‘free downloads’. These contain a detailed explanation of the recently introduced ‘professional marks’ which are available in certain ACCA papers. The download works as a ‘question and answer’ type scenario with actors playing the part of examiner and student. This download looks at why professional marks were introduced, how professional marks are awarded, tips for gaining professional marks (note these marks can actually be the difference between a pass and a fail) and where professional marks are allocated.

An example of professional marks can be seen in past papers of P7 ‘Advanced Audit and Assurance’. By listening to this download it will help you understand how you can develop your answers where professional marks are available and get them in the bag. Don’t forget in the exam room you will only have 15 minutes reading and planning and 3 hours writing so the pressure will be on to get as many marks as possible under your belt.

The second free download is ‘exam technique’. Passing exams is as much about technique as it is technical knowledge. Poor exam technique will undoubtedly result in a fail and it is vital that students work on their exam technique as much as possible in the lead up to the exam in order to increase their chances of success.

The free download offered by Passacca.net offers students all they need to know about developing good exam technique and maximising their chances of success. As a quote from Passacca.net website “students do not plan to fail – they fail to plan”.

The ‘paid for’ downloads relate to the following papers for December 2008:

P1 – Professional Accountant
P2 – Corporate Reporting
P3 – Business Analysis
P5 – Advanced Performance Management
P7 – Advanced Audit and Assurance

These are all audio downloads.

The cost of each download is £9.99 and contains over 1 ½ hours per paper which gives you the essential knowledge and application required in order to pass the paper you are sitting. I think you will agree that £9.99 is worth investing in if it helps you achieve success in the exam.

Other Benefits

Membership of Passacca.net is free. There are further benefits available to members.

Hotel Stay UK offers http://www.passacca.net members superb savings on worldwide hotels and short breaks.

BUPA is also offering http://www.passacca.net members up to 34% discounts if you are currently an ACCA student. If not, discounts range from 10% to 25%.

Final Tips for Success

As well as listening to the free downloads and ordering the ‘paid for’ downloads for the relevant P papers shown above, AccountancyStudents.co.uk and Passacca.net can offer you the following advice to prepare for your exams:

• Now is the time that you should be practising lots of exam style questions to time and making sure you allocate the correct amount of time to the question – remember 1.8 minutes per mark so a 25 mark question should take no longer than 45 minutes. If you have not finished the question after 45 minutes – move on. By over-running on your time allocation, you will not be devoting enough time to the rest of the paper which is a dangerous tactic.
• Have a study plan and stick to it. Make sure your study plan includes time for breaks as ‘cramming’ and significantly long periods of study can be counter-productive.
• Do not just concentrate on those areas you like – concentrate more on those areas you are weak on and develop your knowledge in these areas. Listening to the downloads from Passacca.net whilst ‘on the move’ will also help you achieve this.
• Make sure you comply with examiners requests. If you are asked to write a report, do not write a letter or a memo. Write a report and ensure it is in the correct format.
• Get into the habit of showing all your workings for numerical papers and cross-reference these workings so that the marker can easily see how you arrive at a figure. Even if the answer is wrong, a marker can still give credit if they can see your approach. No credit can be given if these workings are not shown.
• Make sure you writing is legible and is in blue or black ink – not red or green and certainly not pencil.
• Read all articles written by the examiner as well as examiner reports to gauge an understanding of what it is the examiner is looking for in questions.
• Ensure your revision covers all the syllabus.
• Do not ‘question spot’. The practise of ‘question spotting’ is wreckless and will only go to maximise your chances of failure rather than success.
• There are lots of technical articles in the ‘articles’ section on AccountancyStudents.co.uk which will help develop your understanding in areas which you feel weak on.

Conclusion

Studying for professional exams is stressful. However, you can overcome this sense of pressure by developing a good and effective revision plan. In addition, using the resources on Passacca.net will give you a better understanding of what the examiner is looking for on the day of your exam and how to stand yourself in good stead to pass the paper.

On behalf of AccountancyStudents.co.uk and Passacca.net, I would like to wish you all the best of luck in your forthcoming examinations.

Steve Collings FMAAT ACCA DipIFRS is Audit Manager at Leavitt Walmsley Associates (http://www.lwaltd.com) and a partner in AccountancyStudents.co.uk