November 2, 2020
ACCA stands for Association of Chartered Certified Accountants. The ACCA certification is one that open doors globally for its members. It has two levels Fundamental and Professional.
The Fundamental level is subdivided into two: Knowledge and Skills. The knowledge level deals with the management and financial aspects, whereas the Skills module showcases the experience in technical subjects that are expected from an accountant.
The professional level has two modules, essential and options.
While preparing for the exam, make sure you have a solid study plan catering to your learning preferences. Make sure that the study plan is centered around the exam structure and the exam topics. Students should make full utilisation of the resources available to them while preparing for the ACCA exam.
Some of the resources you should definitely use are
• Practice test for On-demand CBE exams.
• Examiners reports and guidance
• Practice previous year papers
• Try and see videos that give a proper break down of the exam techniques
• Read on articles by students accountants
The examiner’s reports are an excellent tool, it is made after every exam. It analyses the paper in depth and then highlights the areas that a student could have done better. This will guide to make sure you don’t make the same mistakes. They will highlight the areas you should focus on and where you need not waste time.
Courtesy: ACCA Global
Try and practice as many mock papers as you can, as this will give a simulation of the real test. This will help you to develop time management and stress resistance skills.
Trying out previous test papers is also an excellent way to identify the pattern of the paper. It also provides insights on the marking scheme eg: one mark for definitions, lists etc or two or more marks for comparisons, analysis etc. They will also give an idea of the most frequently asked questions.
What to focus on a few days before the exam?
• A simple revision of topics is ideal. Try not to learn new topics as chances of retention are lower as you hurry.
• Ensure that while answering questions be precise and do not write about topics unrelated to the question as this will be just a waste of time and it would fetch you any marks.
• Destress. Most students tend to have panic attacks as the exam dates approach. Don’t overwork yourself, instead spread out topics evenly when you study.
• Don’t be hasty while you attempt the exam, this will always lead to you making careless mistakes.
Understand that in the end, it all boils down to what you do during the hours you are in the exam hall. Make the most of it, manage time efficiently.