Studying ACCA is about understanding and comprehension, but it’s also in large part about memorisation. Particularly with papers such as P2 and P7, ensuring you have processes in place for remembering terminology and technical information such as accounting standards is key.
Unfortunately, when it comes to studying this type of information, there’s sometimes no substitute for studying hard. But we’ve assembled a few techniques below, which should help to ease the process.
1) Get Creative:
As humans, we’re usually better at remembering things that are weird or rude, rather than safe or dull. Try working the information you’re trying to learn into a rhyme or a mnemonic - an acronym that takes the first letter of a series of words. The sillier or odder it is, the better you’ll remember it. Here’s an example for remember the CFO’s role for a P1 exam – BRIBE:
B – Business strategy and management
R – Risk management
I – Investment and financing decisions
B – Board committees
E – Evaluating structure of the organisation’s operation and performance review
2) Get Tested:
Once you feel like you’ve memorised a particular piece of information, it’s always good practice to frequently test yourself – whether it’s a case of closing your eyes on the bus for a few minutes and mentally repeating what you’ve learned back to yourself, or sitting down at the end of a day to write out everything you’ve memorised.
Getting friends and family to help is invaluable, too – give them a printout of something you’d like to be tested on, and get them to give you spot tests around the house. The fact that you won’t necessarily be expecting to be tested will help you to be certain about whether you’ve truly learned something or not.
3) Put Reminders In Places You’ll Look:
Write down the things you’re having trouble remembering on Post-It notes and put them in places you look frequently – around the bathroom mirror, around the screen of your computer or on your desk. Don’t just let them become part of the furniture though – every time you look in that particular space, take 30 seconds or a minute to remind yourself of the information written on them. It’s a good way of helping to commit it to memory.
How do you remember those awkward facts and terms? Rhymes, revision cards, or something else entirely?