Countdown to a confident performance

Article Abstract:

Accounting students preparing for the forthcoming ACCA examinations should do more than just read their notes or study texts. They should use the limited time available mastering standard examination questions and honing their examination technique. To do this, students should carefully review paper syllabuses and go through past papers to identify recurrent exam topics and also to identify their own strengths and weaknesses. In addition, they should plan their study time carefully, set a reasonable goal every day and strive to stick to this plan. To perfect their examination technique, students are advised to focus on question practice because familiarity with the exam's format can mean the difference between a passing and a failing mark. Other useful measures include practicing 'active reading,' doing additional background reading, planning answers, setting out pro formas, and improving written communication skills.

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A case to study

Article Abstract:

Accounting students who are taking their professional examinations should be prepared to answer scenario-type questions as these kind of queries are likely to become regular features of the accountancy examinations. These scenario-type questions are used to provide examinees with the opportunity to demonstrate their ability to use theoretical concepts within a reasonably realistic environment. These questions pose a number of special problems. Notable among them are the need to assimilate the data provided in a fairly short time-frame and the lengthy narrative which is used to cover hidden problems. Students can prepare to tackle scenario-type questions by reading about the real-life applications of theoretical concepts. This can be done by scanning business magazines and newspapers for details of how real-life problems frequently encountered by accountants have been solved.

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Budgets, budgets everywhere

Article Abstract:

Accounting students should be familiar with the business budget preparation process because it is usually included in accounting examinations. The preparation of a budget, in practice or during an examination, starts with the development of the required pro formas. This is followed by the entry of opening balances from the balance sheet as of Jan. 1, 19x6, particularly share capital and other balances that are not expected to change. The third step is entering targets for the period covered. These figures may include expected sales, purchases, production and costs. The fourth and final step is the completion of each of the segments of the functional and master budgets. Data based on an actual examination question are presented to illustrate the budget preparation process.

Business budgets

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