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ACCA Financial Reportng Exam F7

  • 27-01-2020 12:42AM
    #1
    stevob77777
    Registered Users, Registered Users 2 Posts: 27 ✭


    Hi, I recently decided to commence the ACCA exams. I have my first exam in March and I have done little to no accountancy since graduating 8 years ago. So, I'm very rusty and leaving myself a lot to do. I was going to give myself more time and go for the June exam however I'd probably end up doing the bulk of studying in the last 5/6 weeks anyway so stuck with March.
    I have 5 exemptions from my degree which I've used and I'm now studying for the Financial Reporting exam. I've been studying the last week online and I do find it overwhelming to say the least - the info is so broad and there are so many IAS/IFRS to look at.
    I haven't got to the stage yet in my study of applying all of this to what will be the big marked questions which will consist of doing up the relevant statements. I'm using learnsignal online and will be getting the F7 study book (Kaplan) this week and will probably get the revision kit (Kaplan) too.
    Basically, do you have any study tips for this exam? - is it a case of just practicing questions as much as possible? Am I leaving myself too much to do especially with the big gap since last doing accounting. Also, thoughts on the exam itself - how tough is it??


Comments

  • #2
    MartyMcFly84
    Registered Users, Registered Users 2 Posts: 1,326 ✭✭✭MartyMcFly84


    I did F1 -F3 then did F7 as my first of the skill levels exams. I found it difficult and probably the hardest of the skills level exams. It was a big jump up from the Foundation level.

    I failed first time in a June sitting and got it the second time in Sept. I havent failed an exam since, it kind of set me up to realise how much work is needed to pass the skill and professional level ACCA exams. From F5 onwards They all take a considerable about of work.

    I have heard many people with exemptions also struggle with the ACCA exams when they first transition over to ACCA, the format, level and answer style is different from university exams.

    My advice would be go to lectures ran by Gerry Fahey. He is an expert in the F7 and P2 papers. He really went above and beyond to get me over the line second time around.


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