2 basic areas ACCA F2 students are neglecting!

Don't forget the basics!
 
Rather like an electrician needs to know how to change a light bulb, it is essential for an accountant to know their numbers.
 
ACCA examiners are continuously surprised at the number of basic mistakes made by candidates in two key areas. Firstly, an inability to do calculations correctly. Secondly, a poor understanding of commonly used accounting ratios.

These are fundamental requirements for all ACCA students. As you work hard at learning complex subjects across the ACCA syllabus, remember not to neglect the basics!

Let's look at these in a bit more detail...

6 ways to significantly improve your work life balance

Juggling work, revision and home life is the single biggest challenge for many ACCA students.

I was recently counseling an ACCA student who was struggling with getting this balance right. He was a committed rugby player as well as a father of two small children. Combined with a busy job in the finance team of a large multi-national corporation, his ACCA revision seemed like a step too far in his busy schedule. He found that not only was his revision going badly, he was not managing any of the key parts of his life successfully. He was heading for problems!

This reminded me of many conversations I have had with Accountancy students over the 15 years I've been teaching.

Of course there is no simple answer, but there are some steps that can be followed to help students to get the balance right and be successful in their ACCA exams.

Here are my six key tips:

Must read advice from June 2016 ACCA students!

It's worth remembering that you are not the first person to take your ACCA exams! The good news is that thousands of ACCA students have gone before you, so there is a wealth of experience that you can benefit from. 

Although before my time(!), this reminds me of a guy by the name of Dick Fosbury who revolutionised the high jump at the 1968 Olympics. By using a never seen before backward flop technique he won the gold medal against his rivals. From that day it became the standard way of jumping and 50 years later is still used by virtually all high jumpers. They have used the knowledge and technique they have gained from Dick Fosbury to achieve their own success. 

Similarly, you can also get the benefit of people that have gone before you in your ACCA exams. We asked students who have recently completed their June 2016 ACCA exams, what advice they would give to future students. Their answers are extremely valuable as there is no better source of information than the people that have actually taken the exams. 

We had some interesting answers - why not learn from their experience to take your revision to a higher level?! Here are the key points from the survey:

3 tips to make your revision fun and effective (yes I said fun!)

ACCA revision is of course very important - but are we guilty of making our approach a bit too serious?

It goes without saying that all students really want to pass their ACCA exams - so it's important to make sure your revision is as effective as possible. After all, it's a serious matter!

However, there is often a misconception that revision can't also be enjoyable. 

With that in mind, here are three tips that could not only make your revision more fun, they could also make your revision more effective!

Must know tips from the examiners - the sequel!

It amazes me that so many ACCA students don't pay attention to the Examiners' Reports. After all, they are the people you need to impress on the big day!

These reports highlight the same old issues that come up time and time again. They summarise the mistakes students are making in the exams and give important and helpful advice on areas they should improve.

Make sure you don't ignore these! To help you out we've captured the key points here:

Must know tips from the examiners

What better advice can you receive than from the examiners themselves? After all not only do they write the ACCA exam, they also mark it!

I recently attended a conference in London where examiners fed back on the performance of accountancy students. It's a great shame that you were not all in the audience with me as they gave some great advice on how students can perform better in the exams. Despite the fact you weren't there, the good news is that the ACCA Examiners' Reports are issued after every sitting. They contain nuggets of information that are essential reading for students.

It was interesting in the conference that the examiners were disappointed that many students did not take the time to read their ACCA reports - as the same problems were coming up time and time again!

Here are the key points from ACCA F1. ACCA F2 and F3 will follow over the next few days. 

Are you fit for the exam? Find out!

Fast food, fizzy drinks and burning the midnight oil are sadly not the recipe for ACCA exam success! As well as being mentally prepared for their ACCA exams, students also need to make sure that they are in good physical shape.

In my experience this is easy to neglect when spending hours and hours revising late into the night, often skipping meals and sitting behind a screen without a break.

Poor physical condition will affect your performance and can be the difference between a pass and a fail. Of course you're not preparing for an Olympic marathon but it's still worth making sure you give yourself the best chance to pass the ACCA exam! 

Here are some tips to make sure you are physically as well as mentally prepared for the ACCA exam.