Congratulations to everyone who passed their exams!
I’m sure you’re all aware that if you want to take advantage of the early exam entry period, the deadline for selecting Options papers for June is March 8th. You’ll need to select two from the following:
• P4 Advanced Financial Management
• P5 Advanced Performance Management
• P6 Advanced Taxation
• P7 Advanced Audit and Assurance
You can find more details on all of them here:
But how should you choose? There are quite a few things to consider – for instance, you might feel that you find financial management easiest, but you’re ultimately aiming your career towards a role focused on tax-related issues.
One way of figuring out what to do is to break it down into four key questions:
• How well did you do in the underpinning papers?
For each of the four Option papers, there are underpinning papers that you should be confident in – so which ones did you pass best? That might give you a good starting point of Options papers to take.
• Which of the papers relates most closely to the work you’ve already done towards your practical experience requirement?
If you’ve already gained some work experience in one or more of the Options papers, this will stand you in good stead for the papers themselves. Likewise, if you’ve been following financial news relating to a particular area, this knowledge development will help make studying for the paper easier.
• Which of the subject areas are you most comfortable with?
It’s an obvious one, but if you find performance management topics easier than studying audits, you’ll give yourself a better chance of passing by picking Paper P5.
• Which paper best suits the type of role you’d like to enter?
If your goal is to become an auditor, it would be worth prioritising P7 over other papers.
The key thing to remember is that this isn’t the last time you can study these subject areas – once you’re qualified you can focus on any of these subjects as part of your yearly CPD requirement. So it might be worth focusing on a subject you’re confident you can do well in now, then coming back to other areas you’re interested in further down the line.
So are you having trouble choosing, or have you already made up your mind?
Iv selected P4 n P5. Everyone raises (stupid) questions in choice of P5, but iv great interest in it, despite of the fact, it is very difficult to pass but easy to study...
I have selected P5 & P6.