ACCA - To go back or not to go back

sgross75

I sat P2 for the 5th time in December and failed yet again.:mad: I do not fail the exam by far (45% worst and 49% best) which makes it even worse. This is my last exam but I am so demoralised and depressed at the moment that I really just can't face going back in to the exam hall in June.

Yes I am so close but I can't face an other lecture or revision course again as I have been doing the same exam for over 2 years now......surely I am in the wrong field if I can't get this final exam and maybe I should just pack it in all together. I am not looking for the 'it will be worth it in the end and don't give up as you are so close'...I just want to know if there is anyone else in the same situation as me and what you are planning on doing...sorry for the Friday slit my wrists post...

Pisco Sour

sgross75 wrote: »

I sat P2 for the 5th time in December and failed yet again.:mad: I do not fail the exam by far (45% worst and 49% best) which makes it even worse. This is my last exam but I am so demoralised and depressed at the moment that I really just can't face going back in to the exam hall in June.

Yes I am so close but I can't face an other lecture or revision course again as I have been doing the same exam for over 2 years now......surely I am in the wrong field if I can't get this final exam and maybe I should just pack it in all together. I am not looking for the 'it will be worth it in the end and don't give up as you are so close'...I just want to know if there is anyone else in the same situation as me and what you are planning on doing...sorry for the Friday slit my wrists post...

Hey

Look Prof 2 is basic accounting and if its taken you 5 times and still havent passed it then surely you are in the wrong profession. Its no big deal, you will find something else that you are more suited to. Its just that Prof 2 is basic and honestly if it takes more than 2 attempts to pass them then you shouldnt be doing accountancy. The exams will only get harder. I admire you for sticking at it so long. I'd be gone after 2 fails. But surely you are in the wrong career no?

Very best of luck

marizpan

P2 can be a tricky paper and i feel for you having sat it already 5 times. I had to sit one paper 3 times and i thought that was bad. i think you should contact your lecturer and get feedback from him. maybe do a mock exam and give it to him to correct so he can idenify the problem.
It might be something simple like exam approach.
If you decide to give up, i understand. But dont give up without knowing why you keep failing. that would just kill me! you are clearly smart enough to have achieved all other exams to date.
\let me know what you decide

jahalpin

04072511 wrote: »

Hey

Look Prof 2 is basic accounting and if its taken you 5 times and still havent passed it then surely you are in the wrong profession. Its no big deal, you will find something else that you are more suited to. Its just that Prof 2 is basic and honestly if it takes more than 2 attempts to pass them then you shouldnt be doing accountancy. The exams will only get harder. I admire you for sticking at it so long. I'd be gone after 2 fails. But surely you are in the wrong career no?

Very best of luck

The OP is talking about ACCA Exam P2, it is the second last exam in the qualification. It is, by far, the toughest exam in the syllabus (GCD advertises it as the most difficult exam of all the accountancy bodies). It is far from basic accounting.

Propellerhead

I must be the longest lasting ACCA student member in the Republic. My membership card is dated November 1985 and it is fair to say that my hair has disappeared at a faster rate of knots than my attempts at finishing the ACCA exams have.

Why am I still paying the sub? Because when my job goes tits up, as it will in the next few months, even though it currently allows me no time whatsover to go away and study, at least I have a chance of being able to finish the last three exams. I haven't been in any job with study leave for over fifteen years and I've been in a FC position all that time.

BTW the last time I passed an ACCA exam John Bruton was Taoiseach. If you feel you haven't a chance, look at the likes of me and perhaps get some hope. Some.

aassddff

When you are that close you should stick with it. Plenty of people have been in the same position as yourself, you only have to pass it once and then you are sorted. Pull yourself up and get stuck in again

Pisco Sour

jahalpin wrote: »

The OP is talking about ACCA Exam P2, it is the second last exam in the qualification. It is, by far, the toughest exam in the syllabus (GCD advertises it as the most difficult exam of all the accountancy bodies). It is far from basic accounting.

Oh apologies! I missread it for Prof 2. Think I was a little drunk at the time:)

Ignore my advice in that case!

Kinetic^

How many times have you attended a semester in a college? If you're in Dublin there are several colleges available.

Would you go back go classes again? Perhaps even 2 at the same time. It may cost you but it's your last exam and will be worth it.

pugwall

Don't give up. It is your last paper. I passed it on my third attempt. It's a tough paper. On my third attempt I switched from UK & Ireland Standards (FRS) to International (IFRS). I also altered my approach to studying the subject.
I bought the IFRS text book co-authored by Graham Holt, the P2 examiner.
Learn the standards! Don't focus on Group Accounting. You won't pass this exam without knowing the standards. The max marks available for groups is 30. Out of that 30. the vast majority of students gain max 10-15 marks ie the easy marks for setup and workings.
The transition from FRS to IFRS was easy - only minor differences - and I found that ACCA publish more resources for IFRS.
Also, there are a lot of marks in each sitting of P2 for the basic definitions of Asset, Liability, Revenue - ie recognising when they appear in a particular question and putting down the definitions with an explanation.
Ethics is also a big area - 1020 easy marks along with current issues.

Attempt the non-groups part of question 1 first - ie the theory. Then the final question (another theory question). Then the easier of the remaining questions in section B and finally, the groups part of question 1. This is the most difficult question on the paper and students tend to spend the most time on it.
Good luck!

Climber

Attempt the non-groups part of question 1 first - ie the theory. Then the final question (another theory question). Then the easier of the remaining questions in section B and finally, the groups part of question 1. This is the most difficult question on the paper and students tend to spend the most time on it.

Good strategy Pugwall.

I don't want this post to come accross all cocky and arrogant, but, I passed
P2 first time round, and I didn't even go to classes. This paper all about exam technique, you really don't have to know all those standards. To add to Pugwalls strategy I propose the following:

1 - Start doing past Question 1's now. These are good because they cover a wide area of the sylabus. When the question is broken up into 4-5 parts DO NOT skip any parts of the question.

2 - As mentioned by Pugwall, theory covers 30+% of the paper (more than the entire Question 1 mark allocation) So concentrate more on all the theory parts of the questions, check your answers to the model answers and adjust accordingly.

You may be failing because you have neglected the theory parts and only getting the workigns parts half right. The examiner may get the impression that you don't really undertand the course sylabus...prove him wrong by giving good/relavent theory answers and still try and get the workigns parts half right.

Good luck

sgross75

Just wanted to say thanks for all your advice and to let you know that I am giving it one more shot! I have paid the exam fee and enroled for lectures - so hopefully I will have positive news in a few months time.....:)

LouOB

Im just about to take P2 a second time
Dont give up its your last one (mine also) but I am NOT going back to college EVER for ACCA. They are not getting anymore of my cash - hell no.
The notes I have should suffice along with above guidance - I think you are mad to pay out 350+ for revision or 800+ for classes.
But hey its your money - im keeping mine as dont have much