Its about that time when you are midway thru your studies and must decide which strategy are you going to adopt for your final exam. Burst strategy or Drip strategy of studying.
There are some pointers that you should be aware when you are preparing for the current ACCA F8 examination - the examiner has already provided some new articles for you consideration and you should be aware that this arrangement of articles was done deliberately to ensure that certain areas get highlighted.
You should approach studying for audit like doing an audit.
You should gain an understanding of the subject matter and the risk related to the paper by reading the examiner reports
You should then proceed to assess risk and prepare a response plan for the examination .
Your response for the examination could be:
1. Study burst at the last minute (high risk option)
2. Drip studying (moderate risk option)- a bit everyday and cycle back once finished
Doing past year papers for this paper is a good idea but you should be careful in terms of not memorising the answers for a given question - then it has moved to rote learning - which can be spell disaster for this paper.
The following issues are very important for those studying the F8 and P7 papers for the coming sitting
1. Know you IAS before going into the examination, since the audit paper is based on the accounting framework
2. Risk assessment will be a hot topic in both papers
3. Audit reporting should have equal attention since the lapse for the new standard is more then sufficient time for all lecturer to have taught the new "words"
The previous P7 examination has already highlighted the issue with the ISA 706 which was updated with the clarity project - Other matter paragraph and Emphasis of matter paragraph.
Preparing for the audit exams in Malaysia is hard since, historically we have always performed baldy in this area, so additional care is needed.
On that note my F8 revision for KDU is on 26,27 and 28 November 2010, F8 revision for Sunway JB is on 11 and 19 November 2010 and J Pro is on 2,3 and 4 November 2010
The P7 revision for Sunway JB is on 13, 14 and 15 of November 2010 and J Pro is on 29 & 30 November and 1 of December 2010.
J Pro timing is 9.00 to 6.00 pm
KDU timing is 10.00 to 5.00 pm
Sunway College JB timing is 8.30 am to 5.30 pm
OBU students that are interested in doing their OBU next semester, make sure that you have opted in before you sit for F7, F8 and F9 since there is a very slim chance that ACCA will opt you in once you have sat for the exams.
Those that want to book for the OBU May 2011 submission can start by SMSing their names to my number above, make sure you get a reply SMS, else there is no confirmation that you spot is booked. I am limiting to maximum of 18 students this time only.
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