On the 5th November the ACCA marketing team set me the challenge of taking over the global ACCA Facebook page for one day by conducting a live Q&A to assist my fellow students.
It was a great privilege and even if we helped one person out of the 101 ACCA Facebook fan who asked a question then it was a job well done.
Here are some key highlights from the Q&A session and I’ve also combined the answers to common questions here too.
1. It’s a month till the exams and I haven’t started studying yet, what do I do?
- Skim over notes
- Start practising questions under examination exam conditions
2. What’s the best way to study?
- Study 25 min / Break 5 min (do this in cycles)
- During your 5 minutes break do something you really enjoy (speak to a friend/family member)
- Find or build a dedicated study area
- Use the SQ3R method to study = Survey, Question, Read, Recite, Review
- Use Mnemonics (Acronyms, Coin Sayings, Interactive Images)
- Study in Groups
- Make sure you get your sleep
3. How do you balance full time employment, being a father, husband, attending college and studying?
- I wake up each day at 5:00 am
- Between 5:00 – 5:30 I work out (I don’t need to go into the benefits of a brief intense workout)
- 5:30 – 6:00 I invest in my personal development (reviewing my goals, reading uplifting books)
- 6:00 – 8:00: Study
- 8.00: Get ready for work
4. How do you prepare for P1?
Obviously you need to know your material, but from then on, place yourself in the scenario and think PRACTICALLY as a future qualified accountant, what you would have done, how would YOU have responded.Try to link the scenarios to practical examples, real life examples. It may seem daunting, that the scenario is long, but start off by reading the requirement, then go straight to the first paragraphs where it will give you a good grasp of the overview. Then tackle it bit by bit. How you will use your reading time (15 min) will greatly benefit you for you 50 mark question.
5. Do you have any advice for P3 revision?
As a future qualified accountant you need to think broadly and deeply on all aspects on the business fundamentals. Start off your P3 revision by learning the various models that exist and understand how you would apply them PRACTICALLY in the real world. Go home after class, make sure you invest 5-10 mins to re-read your notes, that’s when everything is nice and fresh, maybe elaborate on a few points and also jot down any questions you may have for next lecture and come study time i like “active recitation”, i.e. read a chunk of material and then attempt to recite it, or talk out loud on that topic to see if you can recollect the area. Hope this helps. Best of luck with your studies.
6. How do you earn Professional Marks in the most efficient way?
Clear handwriting, bullet points where needed. Answering the question and to the point. Think of it this way, you are the marker and you have a limited amount of time to mark the script. What would YOU like to have in front of you to mark? Hope this helps. Best of luck with your studies.
Blog editors comment: We would like to say a big thank you to Pan for conducting such a successful Q&A and for all his wise words to fellow students. We hope to have him back to do another Facebook Q&A session or something similar.