Rocketdog1905 wrote: » Is anyone else finding the tax exam papers very tough? I'd thought it was one of the easier subjects but I'm learning the slides and still haven't a notion when it comes to answering papers!! Are ye attending the revisions days? I feel like they are a waste of time that could be spent studying!
thefox1982 wrote: » There are a lot of people here asking what approach to take, there are many ways to do it. This is what I am doing and it may not be the approach that other people want to take. I think that the best way to approach study is to do up the notes first, and then do the exam papers. This way you can do trial runs on your notes to see if they are up to standard. I will be updating these when I find gaps when doing the exam papers. Best advice is to put a study plan in place for the next few weeks. I have done this for the full seven weeks that I am off. I start study at 7am and finish at 7pm Mon - Fri (two 30 mins breaks and one hour lunch). I study all four subjects each day for 2.5 hours each. I find that this breaks up the day really well and worked great for CAP 1. At the weekends I am doing two subjects on both Saturday and Sunday - 2.5 hours each, starting early so that I have the rest of the day to do something. A&A - I am working on getting my notes in order first, particularly the types of substantive testing for each different area. I planned to have all of these done for the end of the month so that I can start exam questions after the June bank holiday. FR - I am working my way through the different standards, in order of how they were done at the lectures, updating my notes with the different types of journal entries and scenarios. I have been doing the session questions for each of these which include exam questions. I plan to have these done within the next week or two and then concentrate on the first question and consolidation questions and then the full exam paper. SFMA - Working my way through the different lectures and answering the session questions. When finished and notes all in order, I will do past papers. Tax - Working my way through the different taxes - SD, CGT, CAT and CT. I am doing the session questions as I go along. Will start exam papers in the next week or two.
Ponyface wrote: » Hi all, literally a week to go and I'm freaked out. Can someone please tell me if it's healthy to take a day off at this stage? My head is absolutely melted and can't even bare to look at a book today.
Tgt16 wrote: » Hi, what kind of study are you putting in? I've only be doing in Monday to Friday so far, no weekends - with the exception of next weekend of course, considering exams are following week.
Ponyface wrote: » Monday to Friday prob like 11 hours a day and then a few on Saturdays. It's just I don't particularly feel like I am competent for any of them even though I feel like I've worked hard. Was just hoping to hear other people feel the same and need to take breaks as well, lessens the guilt haha
Tgt16 wrote: » Well done, that is a lot of study, so fair play. Some days I have put in a full days study and others not so much. I guess we can only do what we can do. I for one can't seem to be able to do anymore that 6 hours without becoming completely lethargic. I'm hoping to just get over the line and no more.
Ponyface wrote: » I know it's mad that it's just like a week away. We'll have to study loads this week. I'm hoping to get three, really can't see tax going well. I've tried to study it but I just keep making stupid mistakes on CT and then keep getting cgt and cat mixed up!😬
shanmo wrote: » If you've been doing that many hours a day I'd say you Defo need a break. You must be burned out. I commend your stamina . I could not do 11 hours a day. I'm the same as the person above, all I seem to be able to do is about 6 hours and even at that there are days when during them hours I'm very productive. Give yourself a day off. Refresh your mind. Hopefully, we get the pass. I personally don't like my chances at the minute but I'll keep my fingers crossed. I haven't even looked at audit. How are you with the papers?
Ponyface wrote: » Thank you. I certainly have enjoyed lazing around even if the guilt is starting to get at me. So I only looked at audit myself for the first time Friday and it's actually tough, a lot tougher than I had expected. Hopefully we can spoof a pass though. Have done a lot on tax and fr, consolidation is very hard, putting money on a disposal to come up. Sfma is tricky but if variances and fx risk came up then could be passable. How about yourself?
KKathryn wrote: » I would recommend taking a break as the more pressure we put on ourselves the less our minds retain so a days break does ye good to refresh the brain! I also haven't looked at audit I'm hoping 2 days flatout at it gets my across the line! I am finding tax impossible my mind is not retaining the info at all!!
shanmo wrote: » I had a full day like that yesterday and half a day like that today. Just watched loads of tele and ate snacks. Just think in two weeks time we can do that guilt free I'm regretting neglecting audit! I don't even work in it but o well. It's so boring! Funny you say that, I too am thinking a disposal will come up. Do you think it'll be p/l and sofp or cf? I can't decide what Id prefer. They're both tricky. Still can't nail them. I don't feel great with q 1 either. Adjustments cause me trouble. Ya for sfma I'm hoping for variances too and them maybe a simple enough performance evaluation q. After that I don't know. I have good and bad days with tax. It's all about the memory and some of it is similar but different. I think time will be a big issue. Plus as the week goes on I think my brain will just get more and more tired. We can hope for nice papers. Haha
Ponyface wrote: » Tax is so hard, but if we do well on say the addback and the ct part then that should be at least 15 marks, only need to do say half decent questions after that to pass, please god. Defo think revised entrepreneur relief will come up cos it changed in Jan so make sure u go over that for cgt!
shanmo wrote: » Does anyone have hints for audit? Like any steer of what topics most likely to come up? Or is that impossible to judge? Also for FR? Thanks.
thefox1982 wrote: » I think it's impossible to judge. At the audit revision the lecturer said that there is no way to predict what is going to come up and not to use analytical procedures on past paper topics! It is a given that audit report (as in the different outcomes) and ethics will come up. They are on every paper. In terms of FR, obviously consolidation comes up but cashflow consol or fx consol or consol changes in equity don't come up that often and are probably due to come up. In terms of the standards, Changes in FX(IAS 21), PPE(IAS 16), impairment(IAS36), provisions(IAS37) nearly always come up. Deferred tax(IAS12) is one to look out for.
shanmo wrote: » Consol changes in equity? I don't even recall doing anything like that! This is not good. For any subject. Thanks for the reply
