I will recommend you to use ACCA approved learning materials. And especially you should try to solve complete revision kit of any approved learning material provider. this will help you in increasing your confidence which will hopefully be helpful to clear this paper in your next attempt.
For P1, the technique to answering the questions is application. Knowledge based questions such as briefly explain what is meant by corporate governance score very little marks. However, questions such as list the circumstances which calls for intervention of sharehoders, we may be tempted at once to list what we've read in the learning materials. You have to pick the answers from the scenario itself because it tells the situation of the organisation. When the questions says assess- you must read the scenario and pick asnwers from there, if the question says critically evaluate- you are answering both positive and negative implications, advantages and disadvantages; all answers from the scenario because your answer must be specific to the context of the company or situation described.
If you do this with consistent question practice, reading technical articles, you'll do better. I used this advice i got from ACCA youtube videos and i passed on my third attempt.
Yes Omowunmi is right, its all about application, application and application and this applies to all the P level papers too.
And keep your answers brief and short.
pls consider how the changes to the qualification may affect you... if u have already passed p3 then passing P1 will be objective.
i have never taken P1 but i have been through the syllabus. the important thing is to ensure u have covered the entire syllabus area and then think logically how this knowledge may be tested in the exam.
lots of question practice
My situation also like you. I passed P1 & P2 and failed to pass P3, P4 & P5 with in 7 years. So, from this year again I have to pass all subject of professional level. I can suggest you from experience, (1) finish whole syllabus area, (2) practice as much as possible previous exam question paper and (3) must find out your mistake by your selves with your answer and answer of approved exam kit publishers. I just passed P1 and P2 by this process.