10-31-2004, 03:37 PM
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote> HI AZEEM AND AAMIR
yaar I wanna ask u abt paper 2.5 & 2.6 i am going to give that paper in dec. session so u both guys please could u tell me the secret of success of this paper i would be very thankfull to both of u if u will give me some relevent tips abt that paperz .
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>
The Success Formula is to understand your basics and practice lots of EXAM questions. Paper 2.5 is all about knowing accounting standards (IASs or FRSs) and their application at an elementary level. Try to structure your workings while solving exam questions, for eg for Consolidated Balance Sheet you can start with the GROUP STRUCTURE followed by "BIG 3" computations ie 1.Goodwill 2.Minority Interest 3.Reserves. Structured workings not only help you gain some easy marks but also give you a sound base to elaborate your answer further.
Paper 2.6, frankly speaking i found this paper the easiest in Part2, perhaps it was because i appeared in 2.6 and 3.1 together. For both these papers i always recommend students to read Examiner's Comments and Answers. Most of the students read books and understand the philosphy of the subject but they fail to acknowledge what examiners want from them for eg in a case study question students fail to identify the DATE (whether it is an interim audit or final audit), they fail to acknowledge their role (Audit Manager, Audit Senior, Audit Junior) they fail to point out the Industry (client business) and so on. These are basics, after every exam examiner publishes his comments and suggested answers which show WHAT HE WANTS FROM STUDENTS and sadly students never follow what he says and eventually fail this easy paper. I would say go to the ACCA website and download as many previous exam papers and their answers. One more thing, try to attempt questions by TOPIC which means if you have recently studied Audit Reports from your text book then do as many exam questions about this topic and then move to the other topic, this will give you an excellent idea about the depth of that topic and you will be in a better postion to see which areas are examiner's favourite and which are yet to be asked.
let me know should you need more input from my side
regards
azeem
yaar I wanna ask u abt paper 2.5 & 2.6 i am going to give that paper in dec. session so u both guys please could u tell me the secret of success of this paper i would be very thankfull to both of u if u will give me some relevent tips abt that paperz .
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>
The Success Formula is to understand your basics and practice lots of EXAM questions. Paper 2.5 is all about knowing accounting standards (IASs or FRSs) and their application at an elementary level. Try to structure your workings while solving exam questions, for eg for Consolidated Balance Sheet you can start with the GROUP STRUCTURE followed by "BIG 3" computations ie 1.Goodwill 2.Minority Interest 3.Reserves. Structured workings not only help you gain some easy marks but also give you a sound base to elaborate your answer further.
Paper 2.6, frankly speaking i found this paper the easiest in Part2, perhaps it was because i appeared in 2.6 and 3.1 together. For both these papers i always recommend students to read Examiner's Comments and Answers. Most of the students read books and understand the philosphy of the subject but they fail to acknowledge what examiners want from them for eg in a case study question students fail to identify the DATE (whether it is an interim audit or final audit), they fail to acknowledge their role (Audit Manager, Audit Senior, Audit Junior) they fail to point out the Industry (client business) and so on. These are basics, after every exam examiner publishes his comments and suggested answers which show WHAT HE WANTS FROM STUDENTS and sadly students never follow what he says and eventually fail this easy paper. I would say go to the ACCA website and download as many previous exam papers and their answers. One more thing, try to attempt questions by TOPIC which means if you have recently studied Audit Reports from your text book then do as many exam questions about this topic and then move to the other topic, this will give you an excellent idea about the depth of that topic and you will be in a better postion to see which areas are examiner's favourite and which are yet to be asked.
let me know should you need more input from my side
regards
azeem