Question

failed AAA repeatedly please need help!

hi,

i gave AAA at sep but failed and now i feel just a bit discouraged please suggest any tip or techniques so i'll incorporate those in my study plan for next sitting.

thanks

Answer 1

Questions are repeated, in that, the format of the questions are formed in such a way that some lecturers have developed exam technniques to answer the questions.

For example, when you are required to suggest audit procedures, you must suggest, and explain why. For example, for an audit of PPE, "Read minutes of meeting to ascertain whether the company has permission to acquire the vehicle" Look, "Read minutes of meetings", this is what you as an auditor should do. "To ascertain whether the company has permission to acquire the vehicle", this is the reason why we "Read minutes of meeting". This is one mark.

For other parts however, there are techniques, such as business and F/S risks. In this case, you need to identify the risks (that are relevant to the company in the question). Do not put generic risks, but what was faced by the company, and explain.

There is the accounting issues questions. Firstly, you want to discuss the issue. Then, you discuss the relevant IFRS/IAS rules, there is no need to mention IFRS/IAS number, as if you get it right, you get no extra marks, if you get it wrong, you get cut 1/2.. Explain then, what happens to the account. For example, provision. In the question, there will be an issue regarding this. Maybe, the company might have recognised it wrongly, so you discuss. "According to the IFRS, provision is to be recognised if...."
Discuss the impact on the financial statements since this is wrong so, expenses will be overstated, and current liabilities overstated. This is technically the answer.

You will also have analysis of the report/suggestions of what report to issue. This is simple, tbh, You just need to tell the examiner, what issues/impact of the f/s, and the right report.

 

These are the basic questions, but there are others

Answer 2

We'll be providing some useful tips for overcoming an exam setback in next week's ACCA webinar, 'Back on Track to Exam Success': link here.

Expert tutor Steve Willis will share practical guidance on exam preparation and maximising marks. 

Hope it helps - Isobel, ACCA Community Manager

Answer 3

I am doing in December 3rd attempt. Can study together if you want. Shaz.wase@gmail.com