I think this was my only exam paper, during my path to obtain an accountancy qualification, which I am very proud of. I have never enjoyed an exam so much in my entire life! As a matter of fact, I even bought myself a new jacket before going for it – perhaps I was well prepared or just overly confident. But that confidence was all because of my teacher, I love him for his help, and through him I started to learn the tactics of tackling ACCA papers (that I will share with you in my later articles I hope). I was fortunate to grasp these methods, before my ACCA qualification was complete, thus relieving me of much pain and struggle, which most students are prone to along their professional course.
I was not a place winner of this paper, nor do I claim that I am the only source of knowledge and guidance for this exam (I’m prone to make mistakes myself) but with a score above 90, with just two months of studying and with 5 papers, it’s a great deal for me, at least. I hope my own lessons can help you now.
Paper T7 mainly focuses on a student’s ability to analyze. The majority of students at this stage fail to understand the terms used in exams. There are many terms, but as far as this paper is concerned, the following should be useful:
- The difference between describe and discuss is often confusing. ACCA students asked “to describe” must give an account of something (in words), a narration; on the other hand “to discuss” is to examine in detail, to debate, to sift (that is to separate in to different parts) and to ‘make known’.
- Students asked to define must fix the meaning of a term, to determine with precision and to describe accurately, whilst illustrate asks students to make clear to the reader or to demonstrate, possibly through the use of examples.
- To state is to set down fully, to assert and express the details of an argument or topic.
- Questions often ask students to be brief. Here, ACCA students are being asked to provide a concise account, to express the answers concisely and succinctly.
- To analyze means a separation into elements or component parts, to take apart and discover the general principles underlying a phenomena. To identify is to ascertain, diagnose or to pinpoint an issue.
- Explain is a common term that appears in ACCA examinations. Here, students are required to make plain (that is to make something easily understood) or interpret the meaning of a particular idea.
In addition to an understanding of the terms used in ACCA exams, please do not forget to attempt suitable ACCA past papers, or ACCA practice materials (http://www.TonySurridge.co.uk is an accountancy publisher who provides low cost, yet extensive ACCA practice papers and ACCA revision aids for various subjects… and are bringing out even more – register with them for updates!). You have to write down the answers during your practice and the best suggestion is to arrange an experienced person to recheck the structure of your language. If you do not have anyone, then please read the suggested answer, as should be provided in your ACCA study text.
Paper T7 is more about theoretical discussion than just simply producing calculations. And believe me, if you have a firm grip on discussion area, ACCA is relatively easy for you. So, the only solution is to write, write and write. When you start this exercise, it might appear hectic for you. You will be prone to make mistakes and at times (or may I say most of times), you will be short of words, or even worst, have no idea how to start an answer at all. But practice makes perfect and you learn from your mistakes. By accumulating mistakes in your practice period, let’s hope you will be less likely to repeat them in your ACCA exams!
Good luck!
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