Saturday, January 25, 2014

The best technique to be used to Pass F7

In F7 (Financial Reporting) paper, there is a limited time with lots of adjustments. You must have to apply the IFRS's(International Financial Reporting Standards) to the scenario question, and must have strong grip on underlying concepts and theories of IFRS's. This is all that you have to do to pass F7 easily. But how could you do this? The Answer is very simple that you have to employ a good technique to achieve all above, which I am going to tell you to pass this exam.

F7 consists of five questions based on 90% scenario and approximately 10% theory. The key area are IFRS's which you should have to know what they are telling to do. So you must have to read every IAS or IFRS which are examinable in F7. You can find these in ACCA study guide and study texts. After you know which standards are going to be tested, you must understand their objectives, scope and definitions of specific concepts. This will create ground understanding of the standards.

However, understanding IAS's and IFRS's alone is not getting you to pass because F7 requires you to apply these standards to scenario questions. You must have to know what you have learn from the standards and how it is going to be applied in the situation stated in the exam question. This would be the hardest part to learn. So it requires knowledge as well as strong analysis of the given situation.

The technique would be very simple if you manage to employe it effectively. After learning the standards, you must practice the exam topical questions. For example, If you have learned IAS 16 Property, plant and Equipment then must have to practice questions specific to IAS 16. Once you learned all the standards and practice their question, now you will be able to tackle the full fledge question which will be asked in the exam. Note that practice is the key to complete this paper in limited time constraint and to apply standards in scenario questions.

How you will pass F4 by following 3 Steps

I might be wrong, but F4 (Corporate and Business Law) paper has been claimed as difficult by many students. But if you follow 3 easy steps that I will be telling you, you will pass this exam without any extensive work. However, many students has passed F4 at their first attempt and got attractive mark. So what did they do actually with this paper? The secret will be revealed now.

First of all, Read the study text thoroughly and be comfortable with Law vocabulary used in the text. This will build your basic concept for the paper. I would not say that you read this text again and again, but once is good. Now, you will be able to understand the law.

The second step would be hard. You will need to remember case names and relate them with topics. This needs some time and little bit of hard work. But once you are done with this, Now you can easily write them in your own words. Remember that rote learning is not the key to pass the exam. However, to some extent it works like learning definitions and cases facts.

The last and final step is practicing exam kit. As more the questions you practice more will be the quality of your text. Remember that ACCA will not mark your paper against quantity, but they mark paper with quality of text. After following these steps I assure you that you will pass this exam with great margin.

How can you get Admission in MBA in NUST after F9

It would be a plus if you have a Masters degree as with ACCA. As you all know, ACCA is partnered with OBU(Oxford Brookes University) to gain Bsc (Hons) in Applied accounting degree. This will be a great opportunity for who joined ACCA before graduation or from different entry routes like CAT, FIA or AFD. Pakistan recognizes this degree and you can apply for any university for Masters program. Despite of this you will have to pass some of their requirements like interviews to get admission

After passing F1 - F9, you can get Bsc Hons degree awarded by OBU by completing the research analysis project (RAP) given by OBU. After, You can Apply to any well recognized university for your higher level qualification. But remember that NUST(National University of Science and Technology) is very highly profiled university. They will require many other formalities before giving admission to MBA like interviews. However, if you pass all 14 papers of ACCA and complete professional experience requirement, you will be awarded M.COM degree(University of Punjab) from HEC. As HEC (Higher Education Commission) of Pakistan recognized ACCA as equivalent to Masters of Commerce.

It is however very difficult to study MBA and ACCA together as both are professional studies and needs time and commitment. But I must say this will be a great opportunity to sound your C.V as higher will be the certificates or degrees higher the achievements and ultimately success.

Wednesday, September 4, 2013

A week before ACCA exam a Nightmare

"I've studied in the last week of the exam and got reasonable marks" This is often heard by many students whom I know. Is this really works?

I've been studying ACCA for last 1.5 years approximately, and learn every day. Generally, I couldn't say that studying ACCA exam just before one week is a good strategy, but I can assure you that last days of exam has big influence in exam.

So, As far as passing the exam is concerned, practicing exam question are in the first priority. However, understanding critical underlying knowledge has also its own importance, because in ACCA exam you are required to assess the cases and analyse the data. Though only number crunching couldn't do well alone.

So far, what I've learned is time, commitment and a sound exam technique has very much important to pass the exam, and these all require time.

On the other hand, In the last days of exam, Where all of us are struggling hard to pass the exam, Learning appropriate exam technique would be very beneficial. Therefore, knowing the exam tits and tats in the last days would yield more.

ACCA Paper fee for 2013 & 2014 (Revised)

ACCA has introduced its paper fee as effective in December 2013 and June 2014 exam sittings. These should be paid to ACCA as per ACCA deadlines for early, standard and late payment. You may pay by logging in to your myACCA account along with the selection of papers.


The deadline for early payment for December 2013 attempt is 8th September 2013, for standard payment is 9th September 2013 to 8 October 2013 and for late payment is 9th October 2013 to 8th November 2013, Though the deadline for early payment for June 2014 attempt is 8th March 2014, for standard payment is 9th March 2014 to 8th April 2014 and for late payment is 9th April 2014 to 8th May 2014.

Knowledge Level F1 - F3

Exam entry period     December 2013 exam         June 2014 exam

Early                                        £64                                      £69
       Standard                                 £73                                      £74
       Late                                         £224                                    £225

Skills Level F4 - F9

       Early                                         £81                                    £87
       Standard                                  £92                                    £93
       Late                                          £242                                  £245

Professional Level P1 - P3 and any two from P4, P5, P6 and P7)

      Early                                         £94                                    £100
      Standard                                  £106                                  £108
      Late                                          £259                                  £259